AstraZeneca profit rises 23 per cent as it sets annual savings target
The drugmaker plans US$1.5 billion in yearly savings, with most of the money intended for medicines under development.
AstraZeneca reported an after-tax profit of US$3.12 billion for July to September on 30 October 2026, a 23 per cent increase driven mainly by cancer medicines. The British pharmaceutical company also announced a restructuring programme intended to generate US$1.5 billion in annual savings.
The programme, named Reshaping for Sustainable Growth, is expected to incur one-off restructuring charges of up to US$2 billion. AstraZeneca expects most of the work to be finished by the end of 2029. It said the savings would go back into the business, primarily to support its pipeline, which includes more than 180 projects.
Quarterly revenue reached US$16.2 billion, an increase of 7 per cent. Cancer treatments contributed 48 per cent of revenue, with oncology sales rising 17 per cent to US$7.8 billion. Tagrisso, used for lung cancer, and the immunotherapy Imfinzi led that growth. Core earnings per share increased 17 per cent to US$2.79.
Older products faced pressure. Farxiga sales dropped 25 per cent to US$1.6 billion following the arrival of cheaper generic alternatives in the US. Brilinta, a blood thinner, also lost patent protection. In China, AstraZeneca faces a government bulk-purchasing system that requires price reductions in return for large orders.
AstraZeneca kept its 2026 outlook unchanged, forecasting revenue growth in the mid-to-high single digits and a low double-digit increase in core earnings per share, excluding currency movements. The company said it remained on course to reach its US$80 billion annual revenue target for 2030.
