London (AFP) – British pharmaceutical giant AstraZeneca said Tuesday that its net profit jumped 45 percent last year on strong sales of cancer drugs, as it expands its reach in the United States and China. Profit after tax rose to $10.2 billion in 2025 from $7.0 billion a year earlier, AstraZeneca said in a statement. Revenue increased nine percent to $58.7 billion, boosted by a rise in cancer drug sales.
“In 2025, we saw strong commercial performance across our therapy areas and excellent pipeline delivery,” chief executive Pascal Soriot said in an earnings statement. “The momentum across our company is continuing in 2026,” he added. Soriot later told reporters he was “very confident” the company would achieve its target of $80 billion in annual revenue by the end of the decade. Shares in AstraZeneca rose one percent in midday London trading, bucking a decline on the top-tier FTSE 100 index. “If AstraZeneca knocks it out of the park with its current pipeline of final-stage trials, it could stand head and shoulders above the peer group,” said Dan Coatsworth, head of markets at AJ Bell.
AstraZeneca has recently expanded its footprint into its two largest markets, the United States and China. The group said last month that it would invest $15 billion in China through 2030 to expand its medicines manufacturing and research, as UK Prime Minister Keir Starmer made a trip to Beijing. During the visit, it also announced a deal with Chinese group CSPC Pharmaceutical to help develop and market weight-loss injections, which have exploded in popularity in recent years.
Britain’s largest drugmaker has also been making a recent shift towards the United States, which it hopes will account for half its global revenue by 2030. Last year, the US accounted for 43 percent of its total revenue. Highlighting the increasing importance of the US market, AstraZeneca began listing its shares directly on the New York Stock Exchange in February to attract more investors. It will remain headquartered in the UK and keep its primary share listing in London.
Faced with US President Donald Trump’s threats of pharmaceutical tariffs, AstraZeneca in July revealed plans to invest $50 billion by 2030 on boosting its US manufacturing and research operations. Trump also forged a deal with AstraZeneca for significantly lower drug prices in the United States. In exchange, the Trump administration agreed to a three-year delay on new tariffs. The pharmaceutical industry remains a key target of Trump, with drugs tariffs imposed on other countries as he demands companies switch operations to the US.
© 2024 AFP
