AstraZeneca reported a 21% increase in revenues, totaling $54.1 billion in 2024, primarily driven by robust sales in its cancer and immunology treatments. This comes after the firm opted out of a planned $450 million investment in a new vaccine hub due to disagreements over state support, drawing criticism from government officials. While the company remains committed to its $80 billion revenue target by 2031, it acknowledges a slowing growth rate this year. Additionally, AstraZeneca is contending with challenges in China, where some executives were detained, affecting their market value significantly.
AstraZeneca’s revenues surged by 21% to $54.1 billion in 2024, driven by strong performances in cancer and immunology treatments, despite a withdrawal from a major investment.
The firm expressed disappointment over the failure to secure sufficient state support for their planned vaccine hub, which contributed to its decision to abandon the expansion.
Despite strong results, projections suggest a slowing of sales growth to a high single-digit percentage this year as the company aims for $80 billion revenue by 2031.
AstraZeneca faced significant setbacks with the detention of Chinese executives over illegal activities, impacting its share price and diminishing its market value by $30 billion.
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