AstraZeneca has announced a net profit of $1.43bn, or $0.91 per share, for the third quarter ended 30 September 2024, a 4% rise compared to $1.37bn, or $0.88 per share, for the same quarter in 2023.
The British drugmaker’s net profit for the third quarter of 2024 (Q3 2024) declined by 26% compared to $1.92bn for the second quarter of 2024 (Q2 2024).
AstraZeneca reported total revenue of $13.56bn for Q3 2024, an 18% increase compared to $11.49bn for the same quarter in 2023, and a 5% rise compared to $12.93bn for Q2 2024.
The pharmaceutical company reported an operating profit of $2.10bn for Q3 2024, an 8% increase compared to $1.95bn for the same period in the previous year.
The company reported a profit before tax of $1.82bn for Q3 2024, an 11% rise compared to $1.65bn for the respective quarter in 2023.
AstraZeneca CEO Pascal Soriot said: “Total Revenue and Core EPS were up 21% and 27% respectively in the third quarter, reflecting the increasing demand for our medicines across Oncology, BioPharmaceuticals and Rare Disease and supporting an upgrade to our full-year 2024 guidance.
“In the year to date, we have announced the results for multiple positive high-value trials and are working to bring these new options to patients as quickly as possible.
“Additionally, the quality and impact of our scientific research was well recognised this quarter with data for AstraZeneca medicines featuring in an unprecedented five Presidential Plenary sessions at the two major oncology conferences in September.”
AstraZeneca has announced a net profit of $5.5bn, or $3.57 per share, for the first nine months (9M) ended 30 September 2024, an increase of 11% compared to $5bn, or $3.22 per share, for the respective period in 2023.
The pharmaceutical company reported a total revenue of $39.18bn for 9M 2024, a 16% increase compared to $33.78bn for the same period in the previous year.
The British drugmaker reported a profit before tax of $7.02bn for 9M 2024, a 17% rise compared to $6bn for the same period in 2023.
In a separate development, AstraZeneca has announced its plans to invest $3.5bn in expanding its research and manufacturing footprint in the US, by the end of 2026.
The investment includes $2bn in new investment creating more than a thousand new, high-skilled jobs, which contribute to the growth of the US economy.
Earlier this year, AstraZeneca announced a $300m investment to build a new cell therapy manufacturing facility in Rockville, Maryland, expanding its manufacturing footprint in the US.
AstraZeneca CEO Pascal Soriot said: “Our multibillion-dollar investment reflects the attractiveness of the business environment together with the quality of talent and innovation capabilities here in the US.
“By expanding our R&D and manufacturing footprint, we aim to enhance the development of cutting-edge therapies and support the United States leadership in healthcare innovation.”
