Astra says 20 new drugs will power era of growth’

THE biggest company on London's stock market, AstraZeneca, set out bold plans today for what its boss called "a new era of growth", powered by 20 new drugs.

- Daniel O’Boyle

The Cambridge-based pharma giant has set a target of $80 billion revenue by 2030, and operating profits of around $30 billion.

The rise, from $45.8 billion in revenue last year and operating profits of $8.2 billion, will be fuelled by 20 new drugs set to launch this decade. That 2023 revenue figure meant Astra hit the target it set 10 years ago, as its board aimed to fend off a bid from Pfizer.

CEO Pascal Soriot said: "Today AstraZeneca announces a new era of growth. In 2023 we delivered the ambitious $45 billion revenue goal set a decade ago. With the exciting growth of our innovative pipeline, which has the potential to transform millions of lives, we are now aiming for $80 billion by 2030." The business said it was targeting operating margins in a mid-30s percentage, suggesting operating profits of about $30 billion.