AstraZeneca Reports Strong 2023 Growth and Approvals for Three New Medicines
AstraZeneca announced strong full-year 2023 results, with total revenue increasing 6% and core earnings per share (EPS) up 15%. The company also secured approvals for three new medicines in the final quarter.
Pharmaceutical giant AstraZeneca reported robust financial performance for 2023, with total revenue climbing 6% to $45.8 billion. This growth was achieved despite a decline in sales from COVID-19 medicines. Core EPS saw a significant increase of 15%, reaching $7.26.
The company also achieved key regulatory milestones, receiving approvals for three new medicines – Truqap, Wainua, and Voydeya – within the last quarter. These approvals bolster AstraZeneca's product pipeline, particularly in oncology, cardiovascular, renal, and metabolism, and rare diseases therapeutic areas, which all demonstrated double-digit growth.
Looking ahead, AstraZeneca anticipates another year of strong performance in 2024, projecting low-to-mid double-digit percentage growth in both total revenue and core EPS at constant exchange rates. The company plans to continue investing in science, including antibody drug conjugates and cell therapies, to ensure long-term success.
Full-year 2023 total revenue reached $45.8 billion, up from $43.5 billion in the previous year. Core EPS increased by 15% to $7.26. The company declared a second interim dividend of $1.97 per share, bringing the total declared dividend for FY 2023 to $2.90 per share. The 2024 guidance indicates continued strong momentum, with expectations for double-digit growth in both revenue and core EPS.