AstraZeneca strikes oil with its mega-rich pipeline

The company reported 10 per cent growth in total revenue at constant currency to $15.19 billion for the three months under review and an attributable profit of $2.53bn, up from $1.43bn previously. The company's core EPS was also 12 per cent higher at $2.38.

Revenue growth was consistent across all major regions, the company reported. Emerging markets and Europe grew five per cent and 10 per cent at constant exchange rates, generating $3.96bn and $3.33bn, respectively. There was a nine per cent rise in the US to $6.55bn.

CEO Pascal Soriot said: “The strong underlying momentum across our business through the first nine months of the year sets us up well to sustain growth through 2026 and has us on track to deliver our 2030 ambition.

“Across our pipeline we have announced an unprecedented 16 positive Phase III trials this year, with four since our previous results including high-impact readouts for baxdrostat in hypertension and Enhertu and Datroway in breast cancer.

“We are also delivering on our strategy to strengthen our operations in the United States to power our growth. This includes a historic agreement with the US government to lower the cost of medicines for American patients and broadening our US manufacturing footprint having broken ground at our new $4.5bn Virginia manufacturing facility in October."

Shareholders have embraced the Board's plans to deliver global listing across the UK, New York and Stockholm. Massive investment in research and manufacturing continues in the US following a recently reported ongoing deal with the White House.