Key Summary:
- AstraZeneca quarter-two 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.
Revenue rose 6% year-on-year to $15.4bn in the second quarter, bringing first-half revenue to $30.7bn, up 9% on the same period last year. Profit also improved, with core earnings per share increasing 21%, while the company raised its interim dividend by three cents to $1.06 per share.
Supported by its first-half performance, AstraZeneca reaffirmed its guidance for mid-to-high single-digit revenue growth and low double-digit growth in core earnings per share for 2026. The company also said it remains on track to achieve its target of generating $80bn in annual revenue by 2030.
Oncology fuels uptick
The strongest contribution came from the company’s oncology business, where revenue increased 16% in the second quarter, supported 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. Even so, continued uptake of AstraZeneca’s newer medicines helped sustain overall revenue growth.
Mixed pipeline results
Beyond its commercial performance, AstraZeneca continued to expand its pipeline, securing 30 approvals across major markets since its previous results announcement, including eight first approvals. Among them was the US approval of baxdrostat, its first-in-class treatment for hypertension.
The company also highlighted six positive phase 3 programmes, reflecting continued progress across its late-stage portfolio. However, the quarter also included a notable setback, with the phase 3 CARDIO-TTRansform trial of eplontersen in transthyretin amyloid cardiomyopathy failing to meet its primary endpoint.
Despite this, AstraZeneca said it remains confident in its late-stage pipeline and expects more than 20 high-value clinical readouts over the next 18 months. Confirming this, 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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