Company Reports

After the market close on Sept. 11, AstraZeneca reported that Etcamah failed to show progression-free survival benefit in SERENA-4, a Phase 3 trial in the upfront first-line setting for hormone receptor-positive, HER2-negative metastatic breast cancer patients.

AstraZeneca has built its leading presence in the pharma and biotech industry on patent-protected drugs and a developing pipeline that support a wide moat. The strong replenishment of new drugs sets up solid long-term growth.

The Financial Times reported on Aug. 2 that Bristol-Myers Squibb and AstraZeneca are in discussions with regard to a possible merger. Astra shares fell 8% and Bristol shares were down about 1% in early trading on Aug. 3.

Revenue in the quarter grew 4% year on year at constant currency, and core EPS rose 18%. Management reiterated its full-year guidance of mid- to high-single-digit revenue growth and low-double-digit core EPS growth. Shares were largely unchanged from the previous day's close.

Ionis and AstraZeneca's phase 3 study of Wainua (eplontersen) in ATTR-CM missed its primary endpoint, showing no statistically significant benefit when added to standard of care. This drove significant stock movement with Ionis and AstraZeneca falling nearly 24% and 6%, respectively on July 9.

AstraZeneca's first-quarter revenue grew 8% year on year at constant currency and core earnings per share rose 5%, affected by a lower tax rate in the previous year. Management confirmed guidance for mid- to high-single-digit revenue growth and low-double-digit core EPS growth.

In the fourth quarter, AstraZeneca generated 2% year-on-year core revenue growth, a 5% core operating profit decline, and a 2% core earnings per share decline at constant currency. 2026 guidance is for mid- to high-single-digit revenue growth and a low-double-digit core EPS decline.

AstraZeneca has built its leading presence in the pharma and biotech industry on patent-protected drugs and a developing pipeline that support a wide moat. The strong replenishment of new drugs sets up solid long-term growth.