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AstraZeneca Q1 revenues grow, reiterates FY26 constant currency guidance
By Iain Gilbert
Date: Wednesday 29 Apr 2026
(Sharecast News) - Drugmaker AstraZeneca said on Wednesday that it had delivered solid revenue growth and a series of positive late‑stage trial readouts in the first quarter, reinforcing confidence in its 2030 ambitions.
AstraZeneca said total revenue roses 8% at constant exchange rates in the first quarter to $15.29bn, driven by double‑digit growth across its oncology and rare‑disease portfolios. Product sales increased 7% to $14.39bn, while alliance revenue climbed 26% to $825m.
Reported earnings per share came in 6% higher at $1.99, with core EPS up 5% to $2.58, a performance the group said reflected a favourable tax rate in the prior‑year period, while core operating profits rose 12%, and its core tax rate stood at 21%.
AstraZeneca highlighted positive readouts from four high‑value Phase III programmes since its fourth‑quarter update, including two new molecular entities, alongside 14 regulatory approvals across major regions.
The FTSE 100-listed firm reiterated its FY26 constant currency guidance, continuing to expect total revenues to rise by a mid‑to‑high single‑digit percentage and core EPS to rise by a low double‑digit percentage. If exchange rates remain at March levels for the rest of the year, AstraZeneca said revenues would receive a low single‑digit tailwind, with core EPS growth broadly unchanged.
Chief executive Pascal Soriot said: "We delivered strong growth in Q1 2026, with total revenue above $15bn, demonstrating our consistent commercial execution. We are advancing through our catalyst‑rich period, with positive readouts for four high-value Phase III programmes since our last quarterly results, including first pivotal data for two key NMEs - tozorakimab in COPD and efzimfotase alfa in hypophosphatasia.
"We continue to invest in our commercial capabilities as we prepare for multiple launches, look forward to further readouts anticipated this year, and remain on track to achieve our ambition for 2030 and beyond."
Also on Wednesday, British prime minister Keir Starmer revealed that AstraZeneca would invest £300m in the UK after it paused major projects last year. Starmer told MPs that the investment had been made possible by the recently agreed pharmaceutical framework between the UK and the United States - a deal which has been welcomed by several drugmakers, including AstraZeneca, and was aimed at lifting UK medicine prices in line with new US pricing policies under the Trump administration. The government said the investment would support Britain's life‑sciences sector, one of the country's key industrial priorities.
Reporting by Iain Gilbert at Sharecast.com
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