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China crisis, or overreaction by pharma giant's shareholders?
The Guardian
|November 13, 2024
In the world of two weeks ago, AstraZeneca's share price would have probably enjoyed a strong day on the release of yesterday's third-quarter numbers.
The profit figure beat forecasts and the UK pharmaceutical giant raised its guidance for growth in full-year revenues and earnings from mid-teens to high teens.
Meanwhile, Pascal Soriot, the chief executive, unveiled a $3.5bn (£2.7bn) investment programme in the US and talked bullishly about prospects in its biggest market. The optimistic tunes were lost in the breeze, however, because investors have a simpler question: what the hell is going on in China?
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