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Goldman Sachs has raised its price target for AstraZeneca shares to £151.30, maintaining a Conviction Buy rating, citing an 18% revenue growth and potential in the oral PCSK9 inhibitor market with AZD0780. The anticipated Phase 2 PURSUIT trial data, due on March 31, 2025, is expected to significantly impact the competitive landscape. AstraZeneca is also investing $2.5 billion in a new R&D center in Beijing, enhancing its presence in China and focusing on early-stage research and clinical development.
Roche has entered a $1 billion deal with Innovent Biologics for the DLL3-targeted ADC IBI3009, following promising data from Zai Lab's DLL3 ADC in small cell lung cancer. AstraZeneca faces scrutiny in China, potentially impacting operations, while Viatris received an FDA warning letter for its Indian plant, affecting 11 products. In other developments, Ideaya Biosciences is paying $75 million for rights to SHR-4849, and Hutchmed is divesting its interest in a traditional medicine unit to focus on ADCs.
AstraZeneca Plc is shifting its focus to the US for growth as challenges in its previously booming China market intensify, impacted by an ongoing investigation that has affected its stock price. CEO Pascal Soriot outlined the company's ambitions in the US, highlighting significant investments in research and development while announcing an increase in its annual earnings forecast.
Pascal Soriot
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Goldman Sachs raises AstraZeneca target amid promising drug development and expansion
08:50 28.03.2025
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14:37 03.01.2025
AstraZeneca shifts focus to US growth amid challenges in China
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