
AstraZeneca chief Pascal Soriot heralds the start of a 'period of sustained growth for years to come'
AstraZeneca CEO Pascal Soriot declared victory today in the long-running fight to turn around the struggling pharma giant, gaining a significant spurt in Q3 sales for the company and pointing to a period of “sustained growth” driven by new product development, a strong commercial organization and success in the growing China drug market.
Yes, revenue slid 14%, largely as a result of a lull in the kind of aggressive “externalization” from its drug portfolio that has buoyed the company for years. But with its big 3 cancer drugs — Lynparza, Tagrisso and now Imfinzi — leading the way, the company has a workable strategy to keep expanding sales. That starts with a 9% increase in Q3 while year-to-date there’s been a 2% growth in this column.
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