AstraZeneca doubles down on USA, posts strong first quarter

AstraZeneca (LSE: AZN) posted a 10% rise in first-quarter revenue to $13.6 billion, supported by strong sales of cancer drugs and biopharmaceuticals. Core earnings per share climbed 21% to $2.49, while reported EPS advanced 34% to $1.88. Pre-tax profits increased 21% year-on-year to $3.4 billion.

The Anglo-Swedish pharma major said it remains firmly committed to investing in the USA, with plans to expand beyond its existing 11 production sites. AstraZeneca, which already draws 40% of its revenue from the USA, has pledged $3.5 billion in US investments by 2026 as part of its ambition to almost double group revenue to $80 billion by 2030.

Growth was driven by the oncology and biopharmaceuticals businesses, with total revenue increasing across all major geographic regions. However, rare disease sales slipped slightly, and emerging markets growth was more muted in China - a region that the firm has historically committed to heavily - amid ongoing regulatory investigations.