AstraZeneca remains confident in $80 billion 2030 revenue target despite phase 3 setback

AstraZeneca said its goal of reaching 120 trillion won in revenue by 2030 remains unchanged despite the failure of a phase 3 trial of a key drug.

According to biotech news outlet Fierce Pharma on July 27 (local time), AstraZeneca made the statement during its second-quarter 2026 earnings announcement. The company reported second-quarter revenue of $15.4 billion, up 5% from the same period a year earlier on a constant-exchange-rate (CER) basis.

Revenue for the first half of the year totaled $30.7 billion, a 6% increase. The oncology and respiratory and immunology segments drove growth.

However, the company announced that a phase 3 trial of its rare disease treatment Ultomiris had failed. The trial enrolled adolescent and adult patients who developed thrombotic microangiopathy (TMA) after hematopoietic stem cell transplantation.

In the trial, Ultomiris failed to achieve statistical significance versus placebo on the primary endpoint, which assessed event-free survival through week 26. Ultomiris generated second-quarter revenue of $1.31 billion, up 12% from a year earlier, but fell short of market expectations.

The company also said it would discontinue development of two antibody-drug conjugate (ADC) candidates. The pipeline setbacks follow phase 3 failures for the immuno-oncology drug Imfinzi and rare disease treatment Voydeya.

Despite the successive setbacks, company executives expressed confidence. Pascal Soriot, AstraZeneca’s chief executive officer (CEO), stated, “Additional business development (BD) or mergers and acquisitions (M&A) will not be necessary to achieve our revenue target.”

Soriot said, “Our confidence comes from looking at the entire phase 3 pipeline, not any single asset,” adding, “We will focus internally on strengthening products that are worth investing in.”

Some products, in fact, outperformed market expectations. Strensiq, a treatment for hypophosphatasia, Calquence, a lymphoma treatment, and Tezspire, an asthma treatment, posted quarterly revenue growth of 36%, 16% and 45%, respectively, offsetting weakness in some products.

AstraZeneca maintained its previous full-year 2026 guidance for mid-to-high single-digit revenue growth. It also reaffirmed its goal of reaching $80 billion in revenue by 2030.