Feb 8 (Reuters) - AstraZeneca on Thursday forecast higher revenue and profit for 2024, betting on strong uptake of its infant RSV shot and resilient demand for its cancer and rare blood disorder drugs.
Almost a decade after AstraZeneca fended off a takeover by U.S. rival Pfizer, CEO Pascal Soriot, who took the helm in 2012, has rebuilt the Anglo-Swedish drugmaker's pipeline, including blockbusters such as lung cancer drug Tagrisso, leukaemia drug Calquence and Farxiga for diabetes.
Strong sales of AstraZeneca's cancer treatments and rare disease drugs, coupled with resilient demand in emerging markets, have since fuelled its growth.
The London-listed company said it expects total revenue and core earnings per share (EPS) to increase by a low double-digit to low teens percentage this year.
For 2023, AstraZeneca reported revenue of $45.81 billion and core EPS of $7.26.
For the fourth quarter, it reported core EPS of $1.45 on total revenue of $12.02 billion. Analysts were expecting profit of $1.50 per share on revenue of $12.01 billion, according to a company-compiled consensus.
Reporting by Eva Mathews in Bengaluru; Editing by Varun H K
Source: Reuters