At flashy new research hub, AstraZeneca lays out ambitious growth goals
CAMBRIDGE, England — On a bit of a roll, AstraZeneca on Tuesday laid out ambitious growth goals for the rest of the decade, seeking to build on its momentum in fields like oncology as it said it would nearly double its revenue to $80 billion by 2030.
Hitting such a target would depend on the launch of 20 new medicines and continued growth of its cancer and rare disease therapies, as well as other drugs. It would also require outpacing the targets laid out by AstraZeneca’s large pharma peers.
But at an investor day here at the company’s shiny new Discovery Centre, CEO Pascal Soriot opened his presentation by bringing up the goal set by the company a decade ago — $45 billion in revenue by 2023. The company faced some declines early in that period, but after surging in the past few years, it hit that target, bringing in $45.8 billion last year. Its recent growth has also propelled the company’s share price.
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