
Macclesfield based global pharmaceuticals group, AstraZeneca, has seen its total revenue increase 60% to $11.39 billion in its first quarter results for 2022.
The strong performance for the group has been boosted by the completion of its acquisition of US-based Alexion Pharmaceuticals, first announced in 2020.
After a strong first quarter of the year, the company is expecting to see its total revenue increase by a high teens percentage.
In addition to the completed acquisition of immune disorder drug development specialist, Alexion, strong Q1 performance at AstraZeneca has also been buoyed by 25% growth in revenue from Oncology: this is despite the global impact on cancer diagnosis and treatment as a result of the pressure on healthcare services around the world due to Covid-19. The pharmaceuticals giant has seen strong results for trial drugs and new treatment approvals already in 2022.
Pascal Soriot, Chief Executive Officer, commenting on the results said:
“2022 has started strongly for AstraZeneca. Farxiga achieved $1bn revenue in the quarter and our Oncology medicines delivered Product Sales growth of 18%, despite COVID-19 continuing to impact cancer diagnosis and treatment. High-level results from the DESTINY-Breast04 trial pointed to Enhertu’s potential to redefine treatment of HER2-low metastatic breast cancer, and Ultomiris became the first and only long-acting C5 inhibitor approved for generalised myasthenia gravis in the US.”
Also announced by AstraZeneca alongside its Q1 results was the plan to develop a new strategic R&D centre in Cambridge, Massachusetts, which will also serve as headquarters for Alexion, with designs underpinning the group’s commitment to sustainability practices, with plans for the Macclesfield manufacturing facility to be powered using biogas.
AstraZeneca has ambitions to be carbon neutral by 2025, with a carbon negative supply chain by 2030.