AstraZeneca expects profits to increase in 2026, as it counts on strong demand for its oncology portfolio continuing despite geopolitical pressures and patent expiry headwinds.
AstraZeneca reported full year 2025 revenue of $58.7bn, up 8% at constant exchange rate (CER) compared to 2024. Oncology drug sales were a big driver for the drugmaker’s growth, with revenue in the business increasing 14% to $25.6bn in 2025 compared to the year before.
Lung cancer drug Tagrisso (osimertinib) was the top-selling product in the oncology segment, generating $7.25bn in sales for the year. Immunotherapy Imfinzi netted $6.06bn in 2025, boosted by US approvals in bladder cancer and gastric and gastroesophageal junction (GEJ) cancers. Sales for HER2-directed antibody-drug conjugate Enhertu (trastuzumab deruxtecan) saw a significant sales increase, surging 40% to reach $2.78bn in 2025.
In an earnings call, Imfinzi and Enhertu were earmarked by AstraZeneca’s senior leadership team as key revenue drivers for 2026, boosted by recent and upcoming cancer indication expansions.
Enhertu, co-marketed with Daiichi Sankyo, is forecast to generate global sales of $14.3bn in 2031, according to analysis by GlobalData.
GlobalData is the parent company of Pharmaceutical Technology.
With confidence in the continued strength of oncology sales, along with a diverse pipeline that includes an oral obesity pill set to enter Phase III trials, AstraZeneca issued a steady growth forecast for 2026.
Total revenue is expected to increase by a mid-to-high single-digit percentage, while core earnings per share (EPS) is expected to increase by a low double-digit percentage.
In the earnings call, chief financial officer Aradhana Sarin said that impacts from President Trump’s Most Favored Nation (MFN) policy had already been modelled in the forecast. AstraZeneca, the UK’s most valuable company, became the first non-US drugmaker to sign a pricing deal with the White House in October 2025. In exchange, the company is exempt from tariffs for three years.
Citi analysts said the 2025 results and 2026 guidance were both broadly in-line with consensus. They commented that it was “overall a solid set of results and reassuring guidance… [with a] wealth of pipeline news flow”.
Shares in London-listed AstraZeneca rose 0.4% to £13,952 at market open on 10 February compared to £13,888 at market close on 9 February. The company’s stock value has continued throughout 10 February. The drugmaker has a market cap of £216.1bn.
CEO Pasal Soriot is targeting annual sales of $80bn by 2030, driven by anticipated launches and broader company development.
The latter includes major investments into the US and China over the past year. AstraZeneca pledged $50bn to bolster manufacturing in the US in July 2025; a separate commitment of $15bn to fund an R&D expansion in China was announced in January 2026. China accounted for 11% of AstraZeneca’s product revenue in 2025.
In the earnings call, Soriot said: “We are now taking significant steps to continue strengthening our manufacturing and R&D footprints in both the US and China. Together, our global reach and our diverse revenue streams support our low concentration risk and ensure resilience to regional disruptions.”
