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AstraZeneca (AZN - Free Report) reported third-quarter 2026 core earnings of $2.79 per share, which beat the Zacks Consensus Estimate of $2.60. Earnings rose 17% year over year on a reported basis and 19% at constant exchange rates (CER).
Total revenues of $16.21 billion rose 7% on both a reported basis and at CER, beating the Zacks Consensus Estimate of $16.10 billion. Strong growth in Oncology, Respiratory & Immunology (R&I) and Rare Disease offset generic competition affecting Farxiga and other mature medicines.
All growth rates mentioned below are on a year-over-year basis and at CER.
AZN's Product Sales and Alliance Revenues
Product sales increased 5% to $15.07 billion, driven by continued demand for key medicines across multiple therapeutic areas.
Alliance revenues rose 36% to $1.11 billion, reflecting continued growth from partnered medicines. Alliance revenues include royalties and profit-sharing arrangements from medicines such as Enhertu and Tezspire, where partners record product sales in certain markets.
Here, we have discussed AstraZeneca’s total drug revenues by including Alliance and Collaboration revenues in each revenue figure.
AstraZeneca's Key Oncology Drugs Drive Growth
In Oncology, Tagrisso recorded revenues of $2.09 billion, up 12%, driven by strong demand across indications and key regions. Growth was partly offset by increasing competition in China amid a slowing EGFRm TKI market. Tagrisso sales beat the Zacks Consensus Estimate of $1.98 billion.
Lynparza revenues declined 3% to $811 million, hurt by generic competition in China and volume-based procurement (VBP) implementation and pricing impact in some markets. Sales missed the Zacks Consensus Estimate of $826 million. AstraZeneca markets Lynparza in partnership with Merck (MRK - Free Report) .
Imfinzi generated revenues of $1.99 billion, up 26%, driven by strong demand growth across all regions from established indications and new launches. However, sales missed the Zacks Consensus Estimate of $2.07 billion.
Calquence sales rose 16% to $1.07 billion, driven by strong demand and expanding adoption in chronic lymphocytic leukemia. Sales beat the Zacks Consensus Estimate of $1.05 billion.
Breast cancer drug Truqap generated $210 million, up 9%, while Enhertu revenues rose 35% to $969 million. Newer drug Datroway, for which it has a partnership with Daiichi Sankyo, recorded revenues of $78 million, more than tripling year over year.
Overall Oncology product revenues increased 17% to $7.77 billion. Oncology revenues beat the Zacks Consensus Estimate of $6.94 billion.
AZN's CVRM Segment Faces Generic Pressure
In Cardiovascular, Renal & Metabolism, product revenues declined 20% to $2.60 billion, primarily due to generic competition and loss of exclusivity.
Farxiga recorded product sales of $1.61 billion, down 25%, due to loss of exclusivity in the United States, generic competition in multiple international markets, including China, the United Kingdom and Japan, and the impact of China's VBP program. Sales slightly missed the Zacks Consensus Estimate of $1.62 billion.
Brilinta sales declined 50% to $75 million due to generic competition in the United States and Europe.
Lokelma sales increased 17% to $219 million.
Wainua generated $68 million, up 17%, driven by demand growth in transthyretin amyloid polyneuropathy and geographic expansion.
AstraZeneca's R&I Segment Records Growth
In R&I, product revenues rose 11% to $2.52 billion, supported by demand for newer medicines.
Symbicort sales declined 11% to $666 million due to increasing generic competition and pricing pressure. Sales missed the Zacks Consensus Estimate of $681 million.
Fasenra recorded sales of $602 million, up 14%, driven by strong demand and expanding uptake across indications. Sales beat the Zacks Consensus Estimate of $591 million.
Breztri sales increased 14% to $374 million, supported by market-share gains. Tezspire revenues rose 51% to $429 million, reflecting strong demand and continued launch momentum. AstraZeneca has a partnership with Amgen (AMGN - Free Report) for Tezspire. Amgen records product sales in the United States, and AstraZeneca records its share of U.S. gross profits as Alliance revenues. AstraZeneca books product sales in markets outside the United States.
Saphnelo generated $235 million, up 32%, benefiting from demand growth.
Pulmicort sales grew 16% to $109 million in the reported quarter.
AZN’s Rare Disease & Other Segments
In Rare Disease, product revenues rose 10% to $2.63 billion, driven by sustained demand for Ultomiris and Strensiq.
Ultomiris revenues increased 19% to $1.43 billion, supported by demand growth across indications and continued patient conversion from Soliris.
Conversely, Soliris sales declined 35% to $298 million due to patient conversion to Ultomiris and biosimilar competition.
Strensiq sales rose 34% to $588 million, reflecting continued patient demand.
In Infectious Disease, Beyfortus generated $233 million, down 2%, reflecting partner inventory adjustments.
AstraZeneca Reiterates 2026 Guidance
AstraZeneca reconfirmed its financial guidance for 2026.
The company continues to expect total revenues to increase by a mid-to-high single-digit percentage at CER.
Core EPS is expected to grow by a low double-digit percentage at CER.
Our Take on AZN’s Results
AstraZeneca delivered another solid quarter, with earnings and revenues exceeding consensus estimates. Strong Oncology growth, supported by Tagrisso, Imfinzi and Calquence, alongside increasing contributions from Tezspire, Fasenra and Ultomiris, helped offset weakness in mature brands. Newer drugs like Wainua, Saphnelo, Datroway and Truqap also contributed to top-line growth. However, continued generic pressure on Farxiga, Brilinta, Symbicort and Soliris hurt sales growth. In response to the strong quarterly results, AstraZeneca’s stock rose more than 3% in pre-market trading on Friday.
Year to date, AstraZeneca stock has lost 6.3% against the industry’s 7.2% growth.
Image Source: Zacks Investment Research
AstraZeneca’s stock has declined this year due to back-to-back pipeline setbacks. In addition, several of the company’s established medicines like Brilinta, Farxiga, Symbicort and Soliris have lost exclusivity and are facing generic erosion, creating uncertainty about whether revenues from these mature products can be replaced quickly enough by newer launches and pipeline candidates. However, despite the headwinds, AZN expects continued revenue and earnings growth. AstraZeneca has set itself some visible targets for the next few years. It expects to generate $80 billion in total revenues by 2030. By the said time frame, AstraZeneca plans to launch 20 new medicines, with several already launched/approved. Etcamah for breast cancer and Baxfendy for hypertension received approval in the United States, while Klygefa and Amlypave were approved in Japan this year.
AstraZeneca believes that several of its newer medicines, including Datroway, Etcamah and Baxfendy, have the potential to generate more than $5 billion each in peak-year revenues. Beyond these launches, AstraZeneca also boasts a broad portfolio of late-stage assets that are expected to deliver pivotal data before 2030, including multiple programs with multi-blockbuster potential.
In October, AstraZeneca completed a $2 billion equity investment in Summit Therapeutics (SMMT - Free Report) to accelerate the development of latter’s lead pipeline drug, ivonescimab. The companies have entered into a collaboration to evaluate AZN’s sonesitatug vedotin (Sone-Ve) in combination with ivonescimab, a dual PD-1 and VEGF inhibitor. AstraZeneca and its Japanese partner Daiichi also announced a collaboration with Summit to study Datroway in combination with ivonescimab across multiple cancer types, including lung and breast cancers. AstraZeneca and Summit also plan to establish an additional agreement to launch a global development program evaluating ivonescimab alongside other AstraZeneca cancer medicines, including additional ADCs.
Image: Bigstock
AZN Q3 Earnings Beat Estimates, Oncology Drugs Drive Sales Growth
Key Takeaways
AstraZeneca (AZN - Free Report) reported third-quarter 2026 core earnings of $2.79 per share, which beat the Zacks Consensus Estimate of $2.60. Earnings rose 17% year over year on a reported basis and 19% at constant exchange rates (CER).
Total revenues of $16.21 billion rose 7% on both a reported basis and at CER, beating the Zacks Consensus Estimate of $16.10 billion. Strong growth in Oncology, Respiratory & Immunology (R&I) and Rare Disease offset generic competition affecting Farxiga and other mature medicines.
All growth rates mentioned below are on a year-over-year basis and at CER.
AZN's Product Sales and Alliance Revenues
Product sales increased 5% to $15.07 billion, driven by continued demand for key medicines across multiple therapeutic areas.
Alliance revenues rose 36% to $1.11 billion, reflecting continued growth from partnered medicines. Alliance revenues include royalties and profit-sharing arrangements from medicines such as Enhertu and Tezspire, where partners record product sales in certain markets.
Here, we have discussed AstraZeneca’s total drug revenues by including Alliance and Collaboration revenues in each revenue figure.
AstraZeneca's Key Oncology Drugs Drive Growth
In Oncology, Tagrisso recorded revenues of $2.09 billion, up 12%, driven by strong demand across indications and key regions. Growth was partly offset by increasing competition in China amid a slowing EGFRm TKI market. Tagrisso sales beat the Zacks Consensus Estimate of $1.98 billion.
Lynparza revenues declined 3% to $811 million, hurt by generic competition in China and volume-based procurement (VBP) implementation and pricing impact in some markets. Sales missed the Zacks Consensus Estimate of $826 million. AstraZeneca markets Lynparza in partnership with Merck (MRK - Free Report) .
Imfinzi generated revenues of $1.99 billion, up 26%, driven by strong demand growth across all regions from established indications and new launches. However, sales missed the Zacks Consensus Estimate of $2.07 billion.
Calquence sales rose 16% to $1.07 billion, driven by strong demand and expanding adoption in chronic lymphocytic leukemia. Sales beat the Zacks Consensus Estimate of $1.05 billion.
Breast cancer drug Truqap generated $210 million, up 9%, while Enhertu revenues rose 35% to $969 million. Newer drug Datroway, for which it has a partnership with Daiichi Sankyo, recorded revenues of $78 million, more than tripling year over year.
Overall Oncology product revenues increased 17% to $7.77 billion. Oncology revenues beat the Zacks Consensus Estimate of $6.94 billion.
AZN's CVRM Segment Faces Generic Pressure
In Cardiovascular, Renal & Metabolism, product revenues declined 20% to $2.60 billion, primarily due to generic competition and loss of exclusivity.
Farxiga recorded product sales of $1.61 billion, down 25%, due to loss of exclusivity in the United States, generic competition in multiple international markets, including China, the United Kingdom and Japan, and the impact of China's VBP program. Sales slightly missed the Zacks Consensus Estimate of $1.62 billion.
Brilinta sales declined 50% to $75 million due to generic competition in the United States and Europe.
Lokelma sales increased 17% to $219 million.
Wainua generated $68 million, up 17%, driven by demand growth in transthyretin amyloid polyneuropathy and geographic expansion.
AstraZeneca's R&I Segment Records Growth
In R&I, product revenues rose 11% to $2.52 billion, supported by demand for newer medicines.
Symbicort sales declined 11% to $666 million due to increasing generic competition and pricing pressure. Sales missed the Zacks Consensus Estimate of $681 million.
Fasenra recorded sales of $602 million, up 14%, driven by strong demand and expanding uptake across indications. Sales beat the Zacks Consensus Estimate of $591 million.
Breztri sales increased 14% to $374 million, supported by market-share gains. Tezspire revenues rose 51% to $429 million, reflecting strong demand and continued launch momentum. AstraZeneca has a partnership with Amgen (AMGN - Free Report) for Tezspire. Amgen records product sales in the United States, and AstraZeneca records its share of U.S. gross profits as Alliance revenues. AstraZeneca books product sales in markets outside the United States.
Saphnelo generated $235 million, up 32%, benefiting from demand growth.
Pulmicort sales grew 16% to $109 million in the reported quarter.
AZN’s Rare Disease & Other Segments
In Rare Disease, product revenues rose 10% to $2.63 billion, driven by sustained demand for Ultomiris and Strensiq.
Ultomiris revenues increased 19% to $1.43 billion, supported by demand growth across indications and continued patient conversion from Soliris.
Conversely, Soliris sales declined 35% to $298 million due to patient conversion to Ultomiris and biosimilar competition.
Strensiq sales rose 34% to $588 million, reflecting continued patient demand.
In Infectious Disease, Beyfortus generated $233 million, down 2%, reflecting partner inventory adjustments.
AstraZeneca Reiterates 2026 Guidance
AstraZeneca reconfirmed its financial guidance for 2026.
The company continues to expect total revenues to increase by a mid-to-high single-digit percentage at CER.
Core EPS is expected to grow by a low double-digit percentage at CER.
Our Take on AZN’s Results
AstraZeneca delivered another solid quarter, with earnings and revenues exceeding consensus estimates. Strong Oncology growth, supported by Tagrisso, Imfinzi and Calquence, alongside increasing contributions from Tezspire, Fasenra and Ultomiris, helped offset weakness in mature brands. Newer drugs like Wainua, Saphnelo, Datroway and Truqap also contributed to top-line growth. However, continued generic pressure on Farxiga, Brilinta, Symbicort and Soliris hurt sales growth. In response to the strong quarterly results, AstraZeneca’s stock rose more than 3% in pre-market trading on Friday.
Year to date, AstraZeneca stock has lost 6.3% against the industry’s 7.2% growth.
AstraZeneca’s stock has declined this year due to back-to-back pipeline setbacks. In addition, several of the company’s established medicines like Brilinta, Farxiga, Symbicort and Soliris have lost exclusivity and are facing generic erosion, creating uncertainty about whether revenues from these mature products can be replaced quickly enough by newer launches and pipeline candidates. However, despite the headwinds, AZN expects continued revenue and earnings growth. AstraZeneca has set itself some visible targets for the next few years. It expects to generate $80 billion in total revenues by 2030. By the said time frame, AstraZeneca plans to launch 20 new medicines, with several already launched/approved. Etcamah for breast cancer and Baxfendy for hypertension received approval in the United States, while Klygefa and Amlypave were approved in Japan this year.
AstraZeneca believes that several of its newer medicines, including Datroway, Etcamah and Baxfendy, have the potential to generate more than $5 billion each in peak-year revenues. Beyond these launches, AstraZeneca also boasts a broad portfolio of late-stage assets that are expected to deliver pivotal data before 2030, including multiple programs with multi-blockbuster potential.
In October, AstraZeneca completed a $2 billion equity investment in Summit Therapeutics (SMMT - Free Report) to accelerate the development of latter’s lead pipeline drug, ivonescimab. The companies have entered into a collaboration to evaluate AZN’s sonesitatug vedotin (Sone-Ve) in combination with ivonescimab, a dual PD-1 and VEGF inhibitor. AstraZeneca and its Japanese partner Daiichi also announced a collaboration with Summit to study Datroway in combination with ivonescimab across multiple cancer types, including lung and breast cancers. AstraZeneca and Summit also plan to establish an additional agreement to launch a global development program evaluating ivonescimab alongside other AstraZeneca cancer medicines, including additional ADCs.
AZN’s Zacks Rank
Currently, AstraZeneca has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AstraZeneca PLC Price and Consensus
AstraZeneca PLC price-consensus-chart | AstraZeneca PLC Quote