In the third quarter, AstraZeneca saw 10% year-on-year core revenue growth, 13% core operating profit growth, and 12% core EPS growth. Strong performance in oncology and rare disease was noted, with a 18% growth in oncology, driven by drugs like Imfinzi and Enhertu. Management reiterated full-year guidance of high-single-digit revenue growth and low-double-digit core EPS growth.

AstraZeneca’s earnings were in line with expectations, showing strength in oncology but weakness in cardiovascular and vaccines. Impressive growth was seen in drugs like Imfinzi and Enhertu. Management also reiterated its peak revenue target for baxdrostat and upcoming data presentations. Share value is viewed as fairly valued with potential upside from positive pipeline developments.

Fourth-quarter results for AstraZeneca may be lower due to comparisons and seasonal factors. Key upcoming events include data readouts for lung cancer treatments. The company’s fair value estimates remain steady. This analysis has been provided by Morningstar Equity Research and the authors do not own shares in any mentioned securities.

Read more at Morningstar: AstraZeneca Earnings: Momentum Continues Across Growth Franchises