Investors shrug off AstraZeneca’s ambitious $80 billion revenue claim

While AstraZeneca’s (LSE: AZN) chief executive Pascal Soriot has been proven right about many of his prior boasts on the company’s future success during his 12-year reign, his latest claim could be questioned even by his strongest supporters.

The company has revealed a bold ambition to deliver $80 billion in annual revenue by 2030, up by a whopping 74% from $45.8 billion in 2023.

"The breadth of our portfolio together with continued investment in innovation supports sustained growth"According to AstraZeneca, this will be achieved through significant growth in its existing oncology, biopharmaceuticals and rare disease portfolio, and by launching an expected 20 new medicines before the end of the decade.