AstraZeneca PLC (LSE:AZN) saw £3.3 billion added to its market value after delivering a strong set of half-year results and confirming its guidance for 2025.
The group reported second-quarter revenue of $14.46 billion, up 12%, driven by double-digit gains in oncology and biopharmaceuticals. Core earnings per share for the quarter rose 10% to $2.17, with reported earnings per share climbing 27% to $1.58.
For the first half, revenue rose 11% to $28.05 billion, and core operating profit increased 13%.
AZ declared an interim dividend of $1.03, up 3%. Chief executive Pascal Soriot pointed to "excellent" progress in the company’s research pipeline, with 12 positive phase III trial results and 19 regulatory approvals across major markets in the first half.
The company maintained its full-year outlook, expecting high single-digit revenue growth and a low double-digit rise in core earnings per share.
New deals included the acquisition of EsoBiotec and a research partnership in China with CSPC Pharmaceuticals.
The Anglo-Swedish drugs giant aims to reach $80 billion in annual revenue by 2030, fuelled by continued investment in new products and innovation.
"AstraZeneca looks in rude health at this year’s halfway mark, after narrowly beating market expectations," said Derren Nathan, head of research at Hargreaves Lansdown.
"Growth was broad-based across therapeutic areas and geographies, showcasing the group’s global footprint and diverse range of cutting-edge medicines.
"Astra’s keeping up a frenetic pace of innovation and commercialisation with 12 positive late stage readouts from clinical trials and 19 approvals in major territories."
The shares rose 1.8% to 10,982p.