AstraZeneca Targets $80 Billion Revenue by 2030

AstraZeneca has set an ambitious goal to achieve $80 bn in revenue by 2030, following on from their successful strategy that managed to generate $45 bn in revenue in 2023. The company aims to drive growth through a robust pipeline of innovative drugs, particularly in oncology, cardiovascular, renal, and respiratory therapies by investing heavily in R&D initiatives that will help to ensure sustainable growth beyond 2030.

Today AstraZeneca revealed its bold ambition to deliver $80 billion in Total Revenue by 2030, up from $45.8 billion in 2023. This will be achieved through significant growth in its existing oncology, biopharmaceuticals and rare disease portfolio, and by launching an expected 20 new medicines before the end of the decade. To drive sustained growth beyond 2030, the Company will continue investing in transformative new technologies and platforms that will shape the future of medicine.

AstraZeneca will maintain its strategic commitment to R&D while focusing on productivity throughout the Company, driving operating leverage and enabling the delivery of its ambition for a mid-30s percentage Core operating margin by 2026. Beyond 2026, Core operating margin will be influenced by portfolio evolution and the company will target at least the mid-30s percentage range.

Pascal Soriot, Chief Executive Officer, AstraZeneca said: “Today AstraZeneca announces a new era of growth. In 2023 we delivered the ambitious $45 billion revenue goal set a decade ago. With the exciting growth of our innovative pipeline, which has the potential to transform millions of lives, we are now aiming for $80 billion by 2030.

We are planning to launch 20 new medicines by 2030, many with the potential to generate more than $5 billion in peak year revenues. The breadth of our portfolio together with continued investment in innovation supports sustained growth well past the end of the decade.”

As AstraZeneca continues to grow across all therapy areas, it will continue to decouple its carbon emissions from its increase in revenue. The Company has already reduced its greenhouse gas emissions (Scopes 1 and 2) by 68% from its 2015 baseline while growing Total Revenue by 85% over the same period. By 2026 the Company will be carbon zero for Scope 1 and 2 emissions and by 2030 halve its Scope 3 emissions, on the way to science-based net zero by 2045 at the latest.

For more, please find the original story source here.