AstraZeneca profit rises 23% as drugmaker launches savings program

AstraZeneca said October 30 that after-tax profit reached $3.12 billion in the July-September quarter, rising 23%, largely because of its cancer treatments. The company also unveiled a restructuring program aimed at saving $1.5 billion a year.

Revenue totaled $16.2 billion, an increase of 7%. Oncology sales climbed 17% to $7.8 billion and accounted for 48% of revenue. Tagrisso, a lung cancer treatment, and the immunotherapy Imfinzi led that business.

Core earnings per share rose 17%, reaching $2.79. The measure leaves out certain expenses, including restructuring and amortization costs associated with acquired drugs.

The company expects its Reshaping for Sustainable Growth program to be substantially completed by the end of 2029. It anticipates up to $2 billion in one-off restructuring charges and plans to redirect resources to support more than 180 drug-development projects. No job cuts have been announced.

Among older medicines, Farxiga sales dropped 25% to $1.6 billion after lower-cost generic versions entered the United States. Brilinta also lost patent protection. In China, AstraZeneca faces a government bulk-purchasing system that requires lower prices in return for large orders.

AstraZeneca left its 2026 outlook unchanged: revenue growth in the mid-to-high single digits and core earnings per share growth in the low double digits, excluding currency effects. It said its $80 billion annual revenue goal for 2030 remained on track, with half expected from the United States.

The drugmaker said 12 late-stage trial results had been positive in 2026. Its shares rose more than 4.5% during early trading on October 30.