Pipeline Speed Bump Doesn't Shake AstraZeneca's $80 Billion Revenue Ambition

AstraZeneca Plc (NASDAQ: AZN ) on Monday posted mixed second-quarter 2026 results, beating Wall Street’s earnings estimates while falling short on revenue.

The drugmaker also reported disappointing late-stage trial results for two experimental therapies, including a Phase 3 study of Ultomiris.

AstraZeneca Beats Earnings Estimates, Misses Revenue Expectations The company posted revenue of $15.384 billion, up 6% year over year, or 5% at constant currency (CC), missing the consensus estimate of $15.459 billion.

Adjusted earnings came in at $2.63 per share, ahead of expectations of $2.48.

AstraZeneca’s oncology portfolio accounted for 48% of product revenue, rising 16% year over year, or 15% CC, to $7.33 billion.

Tagrisso sales increased 7% (6% CC) to $1.94 billion.

Imfinzi revenue rose 27% to $1.85 billion, Calquence sales climbed 17% (16% CC) to $1.02 billion, and Enhertu revenue jumped 33% (31% CC) to $888 million.

Cardiovascular, renal, and metabolism product revenue totaled $2.77 billion, representing 18% of product sales, but declined 18% at constant currency.

Farxiga product revenue, the segment’s top-selling drug, fell 16% year over year (-19%) to $1.804 billion.

Respiratory and Immunology revenue increased 13% (11% CC), to $2.43 billion.

Symbicort sales fell 6% (-8%) to $671 million, while Fasenra revenue grew 14% (13% CC) to $570 million.

Rare disease revenue climbed 9% (8% CC) to $2.49 billion, led by Ultomiris, which increased 12% to $1.31 billion.

Pascal Soriot, CEO, AstraZeneca, said, “We are on track to deliver our $80bn Total Revenue ambition, which assumes successes and setbacks.

We remain confident in the strength of our pipeline and have more than twenty high-value readouts due over the next 18 months.” For 2026, AstraZeneca reiterated its guidance, expecting total revenue to grow by a mid- to high-single-digit percentage and core earnings per share to increase by a low double-digit percentage.

Read Also: Ionis, AstraZeneca Stumble in ATTR-CM Trial as Rivals Stand to Gain Ultomiris Misses Primary Endpoint In Phase 3 HSCT-TMA Study AstraZeneca also shared high-level results from the ALXN1210-TMA-313 Phase 3 trial of Ultomiris in patients aged 12 years or older who have thrombotic microangiopathy (TMA) after hematopoietic stem cell transplant (HSCT).

TMA is a serious condition where microscopic blood clots form in tiny blood vessels.

The study showed that Ultomiris (ravulizumab) did not achieve statistical significance for the primary endpoint of event-free survival through 26 weeks compared to placebo.

In pediatric patients, the open-label Phase 3 trial of Ultomiris demonstrated clinically meaningful overall survival of 87.2% at 26 weeks and 73.4% at 52 weeks, as previously disclosed.

The company is advancing regulatory filings for Ultomiris in pediatric patients with HSCT-TMA, based on these results and data from ALX-TMA-502, an external control study, which further supports clinically meaningful benefit on overall survival.

The company said that Ultomiris showed a trend toward treatment benefit in adults and adolescents with HSCT-TMA at 26 weeks compared to placebo.

Discussions with health authorities are ongoing regarding the interpretation of these data.

Sone-Ve Improves Overall Survival But Falls Short On PFS The European drug giant on Monday also released high-level results from the CLARITY-Gastric01 global Phase 3 trial of sonesitatug vedotin (Sone-Ve) as later-line treatment for advanced gastric cancers.

The trial included patients with locally advanced or metastatic gastric cancer, gastroesophageal junction cancer, or oesophageal adenocarcinoma with Claudin 18.2 (CLDN18.2) expression on at least 25% of tumor cells at any staining intensity.

Sone-Ve demonstrated a statistically significant and highly clinically meaningful improvement in overall survival (OS) versus investigator’s choice of therapy.

For the other dual primary endpoint of progression-free survival, results showed a trend toward improved PFS in patients treated in the 2nd- and later-line setting but did not reach statistical significance.

Sone-Ve was well tolerated, and its profile was consistent with the known safety profile of Sone-Ve, with no new safety signals identified.

AstraZeneca Price Action AZN Price Action: AstraZeneca shares were up 0.91% at $170.80 during premarket trading on Monday, according to Pro data.

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