Quick overview

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AstraZeneca’s growth in the world’s largest economy, its portfolio of cancer drugs, helped the company report better-than-expected sales and increased profits in the second quarter.

The UK pharmaceutical firm reported higher-than-expected revenue on Tuesday, rising 12 percent to $14.5 billion. As expected, earnings per share, excluding certain items, increased by 10% to $2.17. In early London trading, the shares rose 1%, boosting their annual gain to nearly 4%.

AstraZeneca has emerged as a significant contender in the field of oncology under the leadership of CEO Pascal Soriot, with a strong emphasis on the United States market.

The company plans to invest $50 billion by 2030 in production, as well as research and development initiatives. Additionally, President Trump intends to impose tariffs on pharmaceutical companies to promote drug production within the United States.

Astra’s cancer drug portfolio, including medications like Tagrisso and Imfinzi, generated $6.33 billion in revenue, surpassing analyst expectations. However, the more established heart medication Brilinta, which faces generic competition, fell short of projections.

Price changes, such as those affecting sales covered by the US Medicare Part D program, lowered Astra’s gross margin in the first half of the year. On Tuesday, Astra reaffirmed its revenue and core earnings forecast for the full year. The company is also developing pipeline drugs for weight loss, cardiovascular disorders, and cancer.