By Alex MacDonald
LONDON--U.K.-listed pharmaceutical company AstraZeneca PLC on
Tuesday said its pipeline of drugs is expected to drive strong and
consistent revenue growth, delivering annual revenues in excess of
$45 billion by 2023.
AstraZeneca, which earlier this year rejected a takeover
approach from U.S.-based Pfizer Inc., said its business strategy is
evolving to become more sustainable and profitable.
"We have more than doubled the number of potential medicines in
our late-stage pipeline since 2012 and we are on track to return to
growth by 2017," Chief Executive Pascal Soriot said in a news
release ahead of an invest day presentation later Tuesday.
"Fueled by a very exciting portfolio of new products, oncology
is set to become AstraZeneca's sixth growth platform and play a
large part in supporting our efforts to bring life-changing
medicines to patients as well as delivering long-term growth," he
added.
Write to Alex MacDonald at alex.macdonald@wsj.com
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