Overview
- AstraZeneca reported on Monday that Q2 core EPS rose 18% to $2.63 and revenue grew 5% to $15.38 billion, delivering a profit beat against analyst expectations.
- Oncology and rare-disease franchises were the main drivers with oncology revenue up 15% to about $14.12 billion and rare-disease sales rising 11%, with most oncology sales concentrated in the United States.
- The company increased underlying R&D spending by about 5% to $3.7 billion, which now represents roughly 24% of revenue and signals continued investment in future drug development.
- AstraZeneca reiterated its 2026 targets for low double-digit core EPS growth and mid-to-high-single-digit revenue growth and maintained its longer-term $80 billion 2030 revenue ambition.
- Investor attention intensified after two recent late-stage setbacks, including a failed Ultomiris study in a rare-disease transplant complication and a missed primary endpoint for Wainua, raising questions about the durability of future growth.