Earnings
Home›Earnings›Results›AstraZeneca CEO urges drugmakers to move at Chinese sp…
AstraZeneca CEO urges drugmakers to move at Chinese speed
AstraZeneca expects $80bn in annual sales by 2030 and reported £30.7bn in first-half 2026 revenues, up 6% at constant exchange rates, while warning of fast-moving Chinese rivals.
AstraZeneca chief executive Pascal Soriot said US and European pharmaceutical companies need to accelerate innovation to avoid being outpaced by faster-moving Chinese competitors, drawing a parallel to the auto industry’s shift toward electric vehicles.
In remarks reported by the Guardian Business, Soriot urged AstraZeneca and its peers to operate with what he called “Chinese speed,” emphasizing that the company has to move much faster to avoid falling behind.
AstraZeneca said it is confident of hitting its growth targets for 2030, when it expects annual sales of $80bn, up from $59bn last year. The company also reported £30.7bn in revenues for the first half of 2026, a 6% increase versus the same period a year earlier at constant exchange rates.
Soriot said AstraZeneca’s drug pipeline remains “unmatched” even after a surprise clinical trial failure earlier this month for Wainua, a major heart disease prospect. He also pointed to heavy Chinese investment in novel technologies such as antibody drug conjugates, warning European and US leaders to stay alert to the competitive challenge.