AstraZeneca reports 23 percent profit jump and announces major savings plan

AstraZeneca announced on Friday that its net profit jumped 23 percent in the third quarter, according to Euronews and TradingView. Profit after tax reached 3.12 billion dollars, or 2.79 billion euros, for the July to September period. [1][2]

Euronews reported that the profit increase was driven largely by booming sales of cancer drugs. This performance represents a sharp acceleration compared to the rise of just over 2 percent reported in the previous quarter. [1]

The British pharmaceutical manufacturer also launched a programme to generate 1.5 billion dollars, or 1.34 billion euros, in annual savings, Euronews and TradingView reported. Euronews noted that the company plans to reinvest these funds into developing new medicines. [1][2]

AstraZeneca focuses on three primary therapy areas, including oncology, rare diseases, and biopharmaceuticals. Its key products include cancer treatments such as Tagrisso and Imfinzi, which have driven revenue growth. [3]