Key Summary:
- AstraZeneca Q2 revenue grows 6%, guidance maintained.
- Oncology portfolio drives growth despite dapagliflozin pressures.
- Pipeline advances continue despite eplontersen phase 3 setback.
AstraZeneca maintained revenue growth in the second quarter of 2026 as demand for its oncology medicines continued to offset pressure across other parts of the business.
Q2 revenue growth
From April to June, total revenue rose 6% year-on-year to $15.4bn, while H1 revenue reached $30.7bn, up 9%. Core earnings per share increased 21% during the quarter, while reported EPS rose 2%. AstraZeneca also increased its interim dividend by three cents to $1.06 per share.
The company maintained its outlook for mid-to-high single-digit revenue growth and low double-digit Core EPS growth in 2026. It also said it remains on track to achieve its ambition of $80bn in annual revenue by 2030.
Oncology fuels uptick
The strongest performance came from the company’s oncology business. Revenue increased 16% in Q2, driven by continued growth from durvalumab, trastuzumab deruxtecan and acalabrutinib. Rare disease also delivered another quarter of growth.
Elsewhere, the picture was more challenging. Cardiovascular, renal and metabolism revenue declined 15%, reflecting generic competition for dapagliflozin following its US loss of exclusivity and the ongoing impact of China’s volume-based procurement programme. Despite those pressures, the strength of AstraZeneca’s newer medicines supported overall revenue growth.
Mixed pipeline results
Beyond the commercial performance, AstraZeneca continued to expand its pipeline.
Since its previous results announcement, the company recorded 30 approvals across major markets, including eight first approvals. These included the US approval of baxdrostat, its first-in-class treatment for hypertension. AstraZeneca also highlighted six positive phase 3 programmes, reflecting continued progress across its late-stage portfolio.
The quarter also included a notable setback. The phase 3 CARDIO-TTRansform trial of eplontersen in transthyretin amyloid cardiomyopathy failed to meet its primary endpoint. Even so, AstraZeneca said it remains confident in its late-stage pipeline and expects more than 20 high-value clinical readouts over the next 18 months.
Pascal Soriot, Chief Executive Officer, AstraZeneca, said: “We remain confident in the strength of our pipeline.”
The results follow other major readouts from competitors such as Novartis, which saw 3% sales growth over the same period.
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