London: British pharmaceutical giant AstraZeneca announced surging quarterly profit Thursday on strong sales of cancer drugs and as the group zones in on the United States, pressured by President Donald Trump. Net profit jumped 77 percent to $2.53 billion in the third quarter compared with the July-September period one year earlier, AstraZeneca said in a statement.
According to Bangladesh Sangbad Sangstha, AstraZeneca is focusing on strengthening its operations in the United States to drive growth. Chief Executive Pascal Soriot emphasized the company’s strategy, including a historic agreement with the US government aimed at reducing the cost of medicines for American patients and expanding the company’s US manufacturing footprint.
The Trump administration recently announced a deal with AstraZeneca to significantly lower drug prices in the United States. In return, there will be a three-year delay on the implementation of new tariffs. This arrangement is part of AstraZeneca’s broader plan to invest $50 billion by 2030 in enhancing its US manufacturing and research facilities.
AstraZeneca also revealed plans to list its shares directly on the New York Stock Exchange by the end of September to attract more investors. Despite this move, the company will maintain its headquarters in the UK and keep its primary listing on London’s FTSE 100 index. This highlights the growing significance of the US market to AstraZeneca, which reported a 12 percent increase in group revenue to $15.2 billion in the third quarter, primarily driven by sales of oncology drugs.