AstraZeneca's Soriot answers pay doubters with first quarter home run
Shares in Britain’s largest drugmaker, AstraZeneca (LSE: AZN), have surged to a multi-month high following better-than-expected financial results for the first quarter of 2024.
The result will lend support to shareholders who recently approved a bumper new £18.7 million ($24 million) pay package for boss Sir Pascal Soriot, despite objections from some investors.
Total revenue was up 19% to $12.7 billion, driven by an 18% increase in sales and continued growth in alliance revenues from partnered medicines.
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