AstraZeneca Reports Strong 2024 Full-Year Financial Results
Pharmaceutical company AstraZeneca announced robust financial performance for 2024, with total revenue increasing by 21% and core earnings per share (EPS) up by 19%. The company anticipates continued growth momentum into 2025.
AstraZeneca reported a strong financial performance for the full year 2024, with total revenue rising 21% to $54.1 billion and core EPS increasing 19% to $8.21. The growth was primarily driven by strong sales across its oncology, cardiovascular, renal & metabolism (CVRM), respiratory & immunology (R&I), and rare disease portfolios.
The company also declared a second interim dividend of $2.10 per share, bringing the total for FY2024 to $3.10 per share, a 7% increase. For fiscal year 2025, AstraZeneca projects total revenue to increase by a high single-digit percentage and core EPS by a low double-digit percentage, both at constant exchange rates (CER).
"2025 marks the start of an unprecedented, catalyst-rich period for our company," said CEO Pascal Soriot. He anticipates Phase III data for seven new medicines and new indications for existing drugs in 2025, supporting the company's long-term revenue goals.
AstraZeneca is also advancing transformative technologies expected to drive growth beyond 2030, with many now in pivotal trial stages. The company plans to increase capital expenditure by approximately 50% in 2025 to expand manufacturing and invest in IT systems.
Regarding ongoing matters in China, AstraZeneca is cooperating with authorities concerning a notice from Shenzhen Customs regarding alleged unpaid import taxes of $0.9 million related to Imfinzi and Imjudo. The company is investigating the matter and potential fines.