In the fourth quarter, AstraZeneca saw 2% core revenue growth, 5% core operating profit decline, and 2% core earnings per share decline. 2026 guidance includes mid- to high-single-digit revenue growth and low-double-digit core EPS decline. This aligns with expectations, with growth in oncology and respiratory and immunology franchises, but a slowdown in cardiorenal and metabolic franchises due to generics competition.

AstraZeneca has raised its fair value estimate to GBX 13,500/USD 184 per share from GBX 12,400/USD 162 due to pipeline progression. Revenue forecast for 2030 is USD 71 billion, closer to the management’s goal of USD 80 billion. Second-half US regulatory decisions expected for baxdrostat, camizestrant, and gefurulimab.

A busy year of clinical trial readouts and advances in oncology and obesity assets prompt a revisit of the model to include more assets in pipeline assumptions. Shares have rallied about 8% since the earnings release, with expectations for continued growth in key areas. Management highlights pipeline progress towards revenue goals for 2030.

Read more at Morningstar: AstraZeneca Earnings: Strong Finish to Year, and Busy Schedule of Data Readouts Ahead