Astrazeneca has announced a surge in revenue from cancer drugs amidst speculation that its boss is considering a listing in the US.
The company reported an 11 per cent rise in total revenue to $28bn (£12.98bn) in the first half of the year, fuelled by double-digit growth in Oncology and BioPharmaceuticals, as reported by City AM.
Astrazeneca, which has sites in Macclesfield, Liverpool, Luton and Cambridge, revealed that revenue from oncology products accounted for 43 per cent of its total revenue in the first half of 2025, marking a 15 per cent increase year on year.
Revenue from oncology reached $11.9bn (£8.92bn), while Cardiovascular, Renal, and Metabolism (CVRM) products generated $6.5bn and Respiratory and Immunology (R&I) revenue amounted to $4.2bn.
Astrazeneca’s core operating profit rose by 13 per cent, with earnings per share increasing by 17 per cent to $4.66 (£3.49).
During the first half of the year, the company achieved 12 positive Phase III trial results and secured 19 product approvals.
Pascal Soriot, CEO of Astrazeneca, stated: “Our strong momentum in revenue growth continued through the first half of the year and the delivery from our broad and diverse pipeline has been excellent, with 12 positive key Phase III trial readouts including for baxdrostat, gefurulimab, and Tagrisso in just the past few weeks.”
Last week the company pledged $50bn (£37bn) to continue to grow in the US, including the largest manufacturing investment in its history, set for Virginia.
Soriot remarked: “This landmark investment reflects not only America’s importance but also our confidence in our innovative medicines to transform global health and power Astrazeneca’s ambition to deliver $80bn revenue by 2030.”
Astrazeneca’s decision to invest in a new manufacturing facility in Virginia follows shortly after the company scrapped plans for a £450m manufacturing plant in Merseyside, citing insufficient government backing.
Currently the second-most valuable company on the FTSE, just behind financial heavyweight HSBC, Astrazeneca boasts a market capitalisation of £167bn and a share price of £107.
However, Soriot has expressed a preference for relocating the company’s stock market listing to the United States.
The FTSE 100 leader has been outspoken about Europe lagging behind the US and China in terms of innovation in new medicines.
Should Soriot’s desires materialise, it would deal a significant blow to the London Stock Exchange, which is already facing a departure of companies.
