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Business Insider
a day ago
- Business
- Business Insider
AZN Earnings: Drugs Giant AstraZeneca (AZN) Zooms Higher on Cancer-Fighting Demand
Shares in pharmaceutical giant AstraZeneca (AZN) climbed over 3% today after it said cancer-fighting drugs had led to record quarterly sales. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Forecast Beaters The company reported that Q2 earnings per share beat forecasts, coming in at $2.17, up from $1.98 in the same period last year. Revenues for the period also beat forecasts, soaring to a record $14.46 billion from $12.94 billion last time. AstraZeneca said its 'broad and diverse pipeline' of drugs had helped with oncology sales doing particularly well, rising 18% to $6.3 billion. It was boosted by sales of its lung cancer drug Tagrisso and chemotherapy drug Enhertu, and continues to lead overall performance. European sales were up 12% to $3 billion, with Chinese demand up 5% to nearly $2 billion. U.S. revenue was up 13% to a record $6.32 billion. The pharmaceutical company is targeting 50% of its total revenue coming from the country by 2030, up from 44% in the second quarter. To help that aim, the group has already committed to investing $50 billion in the U.S. by 2030 including a new manufacturing center in Virginia. Tariff Uncertainty That move was partly in response to uncertainty about the impact of President Trump's tariffs on the pharmaceutical sector. AstraZeneca said that global trade uncertainty and pricing pressures still existed but it reiterated its full-year forecast. This should see total revenue increasing by a 'high single-digit percentage' and core earnings per share by a 'low double-digit' percentage. Chief executive Sir Pascal Soriot said: 'Our strong momentum in revenue growth continued through the first half of the year and the delivery from our broad and diverse pipeline has been excellent, with 12 positive key phase III trial readouts including for baxdrostat, gefurulimab, and Tagrisso in just the past few weeks.' The group is known as a strong income investing stock. It further cheered investors by hiking its Interim dividend by 3% to $1.03. Is AZN a Good Stock to Buy Now? On TipRanks, AZN has a Strong Buy consensus based on 4 Buy ratings. Its highest price target is $97. AZN stock's consensus price target is $97, implying a 36.04% upside.
Business Times
14-07-2025
- Automotive
- Business Times
Europe: Shares end lower as Trump's tariff threats keep markets on edge
EUROPEAN shares ended slightly lower on Monday, with tariff-sensitive auto stocks down after US President Donald Trump's latest threat to impose steep tariffs on the European Union, though gains in financials and healthcare kept losses in check. The pan-European Stoxx 600 index closed 0.1 per cent lower at 546.99. Most regional indexes also declined, except for the UK's FTSE 100, which rose 0.6 per cent to an all-time high. A big boost for the FTSE was AstraZeneca, which gained 2 per cent after the drugmaker said its experimental drug baxdrostat significantly lowered blood pressure in a late-stage trial of patients with treatment-resistant hypertension. Stand-out decliners in Europe were autos, with Germany's BMW, Volkswagen and Mercedes-Benz all down around 2% each on the growing tariff worries. The European Union accused Washington of resisting efforts to agree a trade deal and warned of countermeasures if no deal was struck to avoid the 'absolutely unacceptable' tariffs President Donald Trump has threatened to impose from Aug 1. Trump stepped up his trade war on Saturday, saying he would impose a 30 per cent tariff on most imports from the EU next month. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'Even if 30 per cent tariffs did take effect, we doubt it would be the last word on the subject, so the market and economic reaction will likely depend on how long a full 30% tariff would be expected to last,' said Simon Wells, chief European economist at HSBC. Shares of US-exposed spirits makers Pernod Ricard and Remy Cointreau fell 1.2 per cent and 3.4 per cent, respectively. Helping limit broader losses, euro zone banks climbed 0.5 per cent, with Italian lenders Banco BPM, BPER Banca and Banca Popolare di Sondrio (BPSO) jumping in the range of 5 per cent to 6 per cent. Germany's Renk gained 4.3 per cent after brokerage Kepler Cheuvreux raised its rating on the defence contractor to 'buy' from 'hold'. At the bottom of the Stoxx stood Sweden's Lifco, slumping 9.3 per cent after the consumer goods conglomerate missed second-quarter pre-tax profit estimates. Looking ahead, European earnings season will kick off this week, with world's biggest supplier of computer chip-making equipment ASML set to report on Wednesday. In the US, top banks including JPMorgan Chase & Co, Goldman Sachs and Morgan Stanley are scheduled to report quarterly earnings throughout the week. Monthly consumer prices data out of the US, UK and the broader euro zone are also due later in the week. European bond markets saw losses on Monday with the yield on the German 30-year note hitting its highest since October 2023. REUTERS
