AstraZeneca achieved record quarterly revenue, with total revenue rising 12% to $14.46 billion from $12.94 billion in the prior year's corresponding period. At constant exchange rates, the growth stood at 11%. Core operating profit also advanced significantly, increasing 14% to $4.98 billion, surpassing consensus estimates. Earnings per share on a core basis reached $1.98, reflecting strong operational efficiency despite investments in research and development.
The oncology segment, a cornerstone of AstraZeneca's portfolio, contributed substantially with a 15% revenue increase to $5.77 billion, driven by flagship products such as Tagrisso for lung cancer and Imfinzi for immunotherapy. Biopharmaceuticals revenue grew 10% to $5.12 billion, bolstered by treatments for heart, kidney, and respiratory conditions, including Farxiga for diabetes and chronic kidney disease. Rare disease therapies added $2.68 billion, up 8%, while the cardiovascular, renal, and metabolism unit saw a 12% uplift.
The outperformance was primarily attributed to vigorous U.S. demand, where sales climbed 18% to $6.08 billion, accounting for a significant portion of overall growth. This surge reflects expanded access to innovative therapies amid rising prevalence of chronic diseases. In oncology, enhanced adoption of precision medicines and combination therapies fueled gains, while the biopharmaceuticals division benefited from successful clinical expansions and regulatory approvals.
Globally, emerging markets contributed a 14% revenue increase, though Europe experienced a modest 4% rise due to pricing pressures. The company's diversified pipeline, including recent advancements in antibody-drug conjugates and partnerships, has positioned it to capitalize on unmet medical needs.
AstraZeneca has reaffirmed its full-year 2025 guidance, projecting total revenue growth in the low double-digits at constant exchange rates, with core earnings per share expected to follow a similar trajectory. CEO Pascal Soriot emphasized confidence in the pipeline, noting over 20 late-stage trials poised for readouts in the coming quarters. The firm continues to prioritize oncology, aiming for $80 billion in annual revenue by 2030 through organic growth and strategic acquisitions.
Investments in research and development totaled $3.15 billion in the quarter, representing 22% of revenue, as AstraZeneca advances programs in immunology, vaccines, and rare diseases. Recent regulatory milestones, such as expanded indications for key drugs, are expected to sustain momentum.
Shares of AstraZeneca rose approximately 2% in early London trading following the announcement, reflecting investor approval of the results amid a competitive pharmaceutical landscape. Analysts have largely maintained positive ratings, citing the company's ability to navigate patent cliffs and geopolitical uncertainties affecting supply chains.
These results highlight the pharmaceutical industry's recovery post-pandemic, with demand for chronic disease treatments driving sector-wide gains. However, challenges such as drug pricing reforms in the U.S. and potential tariff impacts on global operations warrant monitoring.
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