AZN changes
Pick any two versions below to diff them.
- Price
- $168.18 → $168.45(+0.2%)
- Risks
- The 2030 revenue goal depends on many trials that are still running. Wainua, volrustomig, and Etcamah had Phase III failures in 2026, and in October 2026 the HICKORY trial of efzimfotase alfa did not meet its main goal. More failures can lower the value that the market gives to the pipeline. Older drugs lose sales. Farxiga lost US patent protection, and China volume-based procurement cuts the prices of several older drugs. New drugs must grow fast enough to replace these sales. The US gave about 42% of revenue in the first half of 2026. US drug price rules, Medicare price talks, and tariffs on imported medicines can reduce prices and profits. China is a large market for AstraZeneca. Political tension, price cuts, and government investigations in China can reduce sales there. Net debt rose by $3.5 billion in the first half of 2026 to $26.9 billion, and the $2 billion Summit investment adds to the cash outflow. More large deals can slow the fall of debt.
- Recent events
- 2026-10-11: The HICKORY Phase III trial of efzimfotase alfa in adolescents and adults with hypophosphatasia did not meet its main goal. The gain in the six-minute walk test was 17.05 metres against placebo, which was not statistically significant. AstraZeneca said that patients on placebo did better than expected, and it will continue to develop the drug. The FDA gave the drug Priority Review in September 2026. 2026-10-05: AstraZeneca completed a $2 billion equity investment in Summit Therapeutics. The two companies will test Summit's PD-1/VEGF antibody ivonescimab together with AstraZeneca's antibody drug conjugates, first in stomach and gut cancers. On October 2, AstraZeneca and Daiichi Sankyo also agreed to test Datroway with ivonescimab. 2026-09-14: The SERENA-4 Phase III trial of Etcamah (camizestrant) with palbociclib in first-line advanced ER-positive breast cancer did not meet its main goal of longer progression-free survival. Etcamah stays approved for patients with an ESR1 mutation, based on the SERENA-6 trial. 2026-09-08: AstraZeneca reported that Imfinzi with Imdelltra gave a statistically significant improvement in overall survival in small cell lung cancer. On September 7, the US approved Etcamah with a CDK4/6 inhibitor for first-line advanced breast cancer with an ESR1 mutation. 2026-08-25: AstraZeneca priced €2.55 billion of bonds in four parts, due from 2030 to 2038, with coupons from 3.402% to 4.169%. The bonds were issued on September 1, 2026. 2026-08-17: AstraZeneca stopped the eVOLVE-Lung02 Phase III trial of volrustomig with chemotherapy in first-line lung cancer, because the data monitoring committee said that it was unlikely to meet its main goals. On the same day, it reported positive Phase III results for Enhertu and for Tagrisso with Orpathys in lung cancer. 2026-07-27: AstraZeneca reported H1 2026 results. Total revenue was $30.7 billion, up 6% at constant exchange rates, and Core EPS was $5.21, up 11%. It kept its 2026 guidance and said that it is on track for its $80 billion revenue goal for 2030. It raised the interim dividend to $1.06 per share. 2026-07-09: The CARDIO-TTRansform Phase III trial of Wainua in transthyretin amyloid cardiomyopathy did not meet its main goal. The shares fell about 9% in early trading in London. On July 13, HSBC cut its rating to Hold.