Astrazeneca: Demand for cancer drugs boosts pharmaceutical giant
Astrazeneca has revealed a jump in revenue from cancer drugs amid rumours its boos is eyeing a listing across the pond.
Total revenue rose 11 per cent to $28bn (£12.98bn) in the first half of the year, driven by double-digit growth in Oncology and BioPharmaceuticals, the company told markets this morning.
Revenue from oncology products made up 43 per cent of Astrazeneca’s revenue in the first half of 2025, up 15 per cent year on year.
Oncology revenue reached $11.9bn (£8.92bn), while Cardiovascular, Renal, and Metabolism (CVRM) products brought in $6.5bn and Respiratory and Immunology (R&I) revenue was $4.2bn.
Core operating profit at Astrazeneca rose 13 per cent, while earnings per share increased 17 per cent to $4.66 (£3.49).
The company had 12 positive Phase III trial results and 19 product approvals during the first half of the year.
Pascal Soriot, chief executive officer of Astrazeneca, said: “Our strong momentum in revenue growth continued through the first half of the year and the delivery from our broad and diverse pipeline has been excellent, with 12 positive key Phase III trial readouts including for baxdrostat, gefurulimab, and Tagrisso in just the past few weeks.
Last week the company pledged $50bn (£37bn) to continue to grow in the US, including the largest manufacturing investment in its history, set for Virginia.
Soriot said: “This landmark investment reflects not only America’s importance but also our confidence in our innovative medicines to transform global health and power Astrazeneca’s ambition to deliver $80bn revenue by 2030.”
The decision in invest in a new manufacturing facility in Virginia comes just months after the firm abandoned its plans to build a £450m manufacturing plant in Merseyside, blaming a lack of government support.
Astrazeneca is the second-most valuable firm on the FTSE – having just been overtaken by financial giant HSBC – with a market cap of £167bn and a share price of £107.
But Soriot has recently voiced his preference to move the firm’s stock market listing to the United States.
The FTSE 100 chief has been vocal about Europe falling behind peers US and China on new medicine innovation.
Soriot’s wishes would be a crushing blow to the London Stock Exchange, which has already been struggling under an exodus of companies.