July 29 (Reuters) - AstraZeneca ( AZN ) beat
second-quarter earnings expectations on Tuesday, helped by
strong sales of key cancer, heart and kidney disease drugs, but
maintained its full-year forecast as pricing pressures and
global trade risks remain challenges.
The company hopes to move on from scandals in China, after
indicating that any impact from probes in its second-biggest
market would be minor, and focus on growing its U.S. footprint
and drug pipeline to reach $80 billion in annual revenue by
2030.
AstraZeneca ( AZN ) said last week it plans to spend $50 billion to
expand manufacturing and research capabilities in the United
States by 2030, the latest drugmaker to ramp up investments in
the country in response to President Donald Trump's tariff
threat.
The Anglo-Swedish drugmaker is counting on a wave of
expected launches of 20 new medicines and its U.S. expansion to
reach its $80 billion annual revenue target by the end of this
decade.
AstraZeneca ( AZN ), the UK's largest listed company by market
value, reported revenue growth of 11% to $14.46 billion for the
three-month period ended June at constant currency rates, with
core earnings of $2.17 per share.
"Our strong momentum in revenue growth continued through the
first half of the year and the delivery from our broad and
diverse pipeline has been excellent," CEO Pascal Soriot said in
a statement.
Analysts were expecting $14.15 billion in revenue and $2.16
in earnings per share for the second quarter, according to a
company-provided consensus.
(Reporting by Pushkala Aripaka and Unnamalai L in Bengaluru,
and Maggie Fick in London; Editing by Subhranshu Sahu)