AstraZeneca raises expectation for next year profits after Q3 performance

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AstraZeneca raises expectation for next year profits after Q3 performance - Business Standard

Quick Summary:

AstraZeneca now expects 2024 revenue and core earnings per share to grow by a high-teens percentage, from a previous forecast of a mid-teens percentage at constant currency rates for both revenue and EPS.

The London-listed company doubled down on the United States, announcing $2 billion in new spending on research and development and manufacturing plants, bringing the total it will invest to expand its footprint in the country to $3.5 billion by the end of 2026.

US revenue in the quarter was $6 billion, representing growth of 23 per cent at constant exchange rates.