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Drugs group AstraZeneca sees annual profit almost double

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British drugs group AstraZeneca said on Thursday net profit almost doubled to $6.0 billion last year, with a strong cancer division helping offset a huge decline in sales of COVID treatments.

“As AstraZeneca celebrates its 25th anniversary, we are pleased to report another year of strong financial performance and scientific progress, with double-digit earnings growth,” chief executive Pascal Soriot said in the results statement.

“We expect another year of strong growth in 2024, driven by continued adoption of our medicines across geographies,” he added.

Group revenue climbed three percent to nearly $46 billion last year compared to 2022, even though sales of COVID treatments slumped by more than $3.7 billion.

Its oncology unit saw sales jump 23 percent.

“Our differentiated and growing portfolio of approved medicines, global reach and rich research and development pipeline give us confidence that we will continue to deliver industry-leading growth,” Soriot added.

© 2024 AFP

Drugs group AstraZeneca sees annual profit almost double (2024, February 8)
retrieved 8 February 2024

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