AstraZeneca Hits $2.45bn Q2 Profit as U.S. Sales Soar Amid Planned $50bn Investment
British pharmaceutical giant, AstraZeneca has reported a 27% rise in second-quarter net profit, reaching $2.45 billion, bolstered by record revenue growth in its key U.S. market.
According to the company’s earnings statement released Tuesday, revenue surged 12% year-on-year to a quarterly record of $14.5 billion, driven largely by strong sales in its oncology portfolio.
The pharmaceutical titan recently announced a major $50 billion investment in the United States by 2030 a strategic move that follows threats from former U.S. President Donald Trump to impose heavy tariffs on pharmaceutical imports.
AstraZeneca CEO Pascal Soriot described the investment as a reflection of the company’s confidence in its innovative product pipeline and the strategic importance of the American market. “This landmark investment reflects not only America’s importance but also our confidence in our innovative medicines,” Soriot stated.
The United States accounted for 44% of AstraZeneca’s total revenue in the second quarter, with American sales rising by a record 13%. The firm now projects that U.S. operations will contribute up to half of its global revenue by 2030.
Trump has launched an investigation into imposing tariffs of up to 200% on pharmaceutical imports.
The sector had previously enjoyed exemptions under his broader trade policies.
In a related development, Washington and Brussels have struck a deal to impose 15% tariffs on pharmaceutical imports from the European Union, further pressuring European-based drugmakers.
In response, several global pharmaceutical leaders including Switzerland’s Roche and Novartis, and France’s Sanofi have begun reallocating production and investments to the U.S. to hedge against policy uncertainties and trade disruptions.
