AstraZeneca Confident of Reaching $45bn Sales by 2023
AstraZeneca have confirmed that they remain confident of generating annual sales of over $45 billion by 2023.
The increase is expected as a result of accelerating growth momentum from both AstraZeneca’s existing products and those currently awaiting market approval.
Five current growth platforms (diabetes, Brilinta, respiratory, Emerging Markets and Japan) currently account for over half of AstraZeneca’s global revenues. The Oncology market is set to become the sixth growth platform, expecting to contribute the largest proportion of pipeline-driven revenue growth in future.
AstraZeneca noted that they have doubled the number of potential medicines in the late-stage pipeline since 2012, with 14 new molecular entities (NMEs) in Phase III or registration.
The company’s early-stage pipeline has also grown through “a sharp focus on novel biology and technologies, providing a sustainable discovery engine behind all core therapeutic areas.”
Pascal Soriot, AstraZeneca’s Chief Executive, commented that increase in sales, highlights that the organisation is “creating significant value for patients and shareholders.”