Key Points
Strong 2025 financials: AstraZeneca reported total revenue up 8%, product revenue up 10% and core EPS up 11%, ending the year with 16 blockbuster medicines and a goal of reaching 25 blockbusters by 2030.
2026 guidance and headwinds: The company guided to mid‑ to high‑single‑digit total revenue growth and low double‑digit core EPS growth while flagging known pressures from the U.S. Farxiga loss of exclusivity in April, China volume‑based procurement on Farxiga/Lynparza/Roxadustat, and the MFN deal (all factored into guidance).
Pipeline and commercial momentum: Management delivered 16 positive phase III readouts in 2025 (≈$10B combined peak sales potential), saw oncology revenue of $25.6B (+14%), and highlighted multiple near‑term catalysts and launches including datopotamab deruxtecan, camizestrant, CMG901, Wainua, tozorakimab and oral GLP‑1 candidate Eccoglipron moving to phase III.
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AstraZeneca (NASDAQ:AZN) reported full-year and fourth-quarter 2025 results, highlighting revenue growth, expanding “blockbuster” product breadth, and a busy late-stage pipeline as it issued 2026 guidance that incorporates several known headwinds, including pricing pressure in China and a U.S. loss of exclusivity for Farxiga.
2025 results: revenue up, EPS growth, and expanding blockbuster base
Chief Executive Officer Pascal Soriot said 2025 was “a great year,” pointing to 8% total revenue growth and 10% product revenue growth, driven by global demand for the company’s innovative medicines. Core EPS increased 11%. Soriot said AstraZeneca ended 2025 with 16 blockbuster medicines and said the company sees potential to reach 25 blockbusters by 2030, up from 12 when it set its $80 billion 2030 ambition in May 2024.
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On pipeline execution, management said AstraZeneca delivered 16 positive phase III readouts in 2025 with a combined peak-year sales potential of $10 billion, and secured 43 approvals across major regions in the past 12 months to support continued growth into 2026.
Regional and segment performance: oncology strength, CVRM headwinds, emerging markets growth
Soriot emphasized the company’s diversification by therapy area and geography, describing it as reducing concentration risk. He said oncology and respiratory & immunology (R&I) grew 17% and 12%, respectively. CVRM grew 2% despite being impacted by the patent expiry of Brilinta and Farxiga in the U.K., with additional pressure expected in 2026. Rare Disease grew 5% despite biosimilar impact on Soliris, with management saying the transition to Ultomiris is close to complete.