AstraZeneca AZN-Q forecast steady 2026 profit growth on Tuesday, betting on demand for its cancer drugs while it boosts its pipeline and invests in the U.S. and China to counter geopolitical pressures and patent expiries on its sales.
The outlook comes as longtime CEO Pascal Soriot steers the company towards its ambitious goal of reaching US$80-billion in annual sales by 2030, driven by new medicines and investments, even as U.S. tariff and healthcare policies remain volatile.
“The momentum across our company is continuing in 2026 and we are looking forward to the results of more than 20 Phase 3 trial readouts this year,” Soriot said in a statement.
Shares were up 1 per cent in morning trading after earlier rising as much as 2.2 per cent after what Barclays analysts said was a “reassuring” update overall.
Boosts dividend on stable outlook
The U.K.’s most valuable listed company forecast 2026 core profit growth of a low double-digit percentage at constant currency rates, but total revenue is expected to grow slower by a mid-to-high single-digit percentage.
In 2025, sales and profit rose 8 per cent and 11 per cent, respectively, in line with AstraZeneca’s own forecasts.
AstraZeneca said it would raise its annual dividend by about 3 per cent to US$3.30, signaling confidence in its long-term plans.
It has made major moves to grow in the United States and China, its top two markets, with a US$50-billion U.S. manufacturing deal last year, an NYSE listing and a US$15-billion China investment this year following setbacks in the region.
Soriot has navigated the political environment in the U.S. well, helping make AstraZeneca the first non-U.S. drugmaker to sign a drug pricing deal with the White House last October in exchange for tariff relief.
Quarterly results meet expectations
Core earnings for the three months ended Dec. 31 stood at US$2.12 per share on total revenue that grew 2 per cent to US$15.50-billion, in line with market view in a company-compiled consensus.
Cancer drug sales leapt 20 per cent to US$7.03-billion, but revenue from cardiovascular drugs fell 6 per cent to US$3.05-billion, partly due to generic competition, including for diabetes and heart failure drug Farxiga.
Revenue from its biggest market, the United States, rose 6 per cent to US$6.93-billion, and China sales grew just 1 per cent to US$1.38-billion.
AstraZeneca this year pledged to invest US$15-billion in China, its biggest there yet, and struck a licensing deal for weight loss drugs from China’s CSPC.