Published by Global Banking & Finance Review®
Posted on November 6, 2025
3 min readLast updated: January 21, 2026
Add as preferred source on GoogleAstraZeneca's Q3 earnings surpassed expectations due to strong cancer and heart drug sales, maintaining its full-year forecast despite investor hopes for an upgrade.
By Pushkala Aripaka and Maggie Fick
(Reuters) -AstraZeneca beat expectations for third quarter earnings on Thursday with strong sales of its blockbuster cancer and cardiovascular drugs, but disappointed some investors by not raising its full-year forecasts.
The Anglo-Swedish drugmaker is looking to new launches, including a blood pressure drug, to offset patent expiries for medicines such as diabetes and heart treatment Farxiga as it pursues its goal of annual revenue of $80 billion by 2030.
"The strong underlying momentum across our business through the first nine months of the year sets us up well to sustain growth through 2026 and has us on track to deliver our 2030 ambition," Chief Executive Pascal Soriot said in a statement.
Shares in London's most valuable listed company were down 0.6% at 1031 GMT in volatile trade, having risen as much as 1.4% earlier in the day.
US DRUG PRICING DEAL IMPACT CAN BE ABSORBED
AstraZeneca is also betting on expansion and a drug pricing deal in the U.S., which accounts for more than 40% of total sales, for some relief from the effects of import tariffs.
The drugmaker signed a deal last month to reduce prices for some of its prescription medicines in the U.S. after unveiling a $50 billion investment plan in July. It will also list on NYSE to gain access to a deeper capital pool.
It did not detail the potential financial impact on its business from the pricing agreement in Thursday's results, but its finance chief Aradhana Sarin told reporters that AstraZeneca was confident it could absorb the hit.
Global drugmakers have pledged billions of dollars to boost manufacturing in the U.S. in response to trade tensions.
OUTLOOK UNCHANGED AFTER RESULTS BEAT
Some analysts, including Barclays, had expected AstraZeneca to increase its full-year outlook, but the drugmaker maintained its forecast for high single-digit percentage revenue growth and a low double-digit percentage rise in core earnings.
AstraZeneca said it did not raise its guidance for several reasons, including pressure from generic competition and rising costs. Core operating expenses rose 9% to $21.6 billion in the nine months to September, the company said.
Core earnings rose 12% to $2.38 per share for the three months ended September 30, and revenue grew by 10% to $15.19 billion at constant currency rates.
That was well ahead of expectations of $2.29 per share in earnings and sales of $14.79 billion in a company-provided poll.
Sales in the U.S. were $6.55 billion for the third quarter, up 9%, whereas revenues from China, AstraZeneca's second-largest market, they rose 5% to $1.76 billion.
Investors have been scrutinising AstraZeneca's performance in China after authorities launched a probe into its business there and arrested a top executive last year.
(Reporting by Pushkala Aripaka and Unnamalai L in Bengaluru, and Maggie Fick in London; Editing by Rashmi Aich, Josephine Mason and Alexander Smith)
A blockbuster drug is a medication that generates annual sales of at least $1 billion for its manufacturer, often due to its effectiveness and widespread use.
Revenue growth refers to the increase in a company's sales over a specific period, indicating its ability to expand its business and market share.
Core earnings refer to a company's profits derived from its regular business operations, excluding any one-time or unusual items.
Patent expiry occurs when a patent's protection period ends, allowing other companies to produce generic versions of the drug, often leading to reduced sales for the original manufacturer.
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