AstraZeneca Plc (AZN) delivered a solid fourth quarter on Tuesday, posting sales of $15.50 billion—up 4% year-over-year (or 2% in constant currency terms)—essentially matching the Street's $15.49 billion forecast. More impressive? Adjusted earnings came in at $2.12 per share, topping consensus estimates of $2.09.
The real story here is what's driving those numbers. AstraZeneca's cancer portfolio has become the undisputed star of the show, now representing 45% of the company's entire sales base. The oncology business jumped 11% (9% at constant currency) to $7.03 billion, powered by a lineup of blockbuster drugs that continue to gain traction.
Let's break down the cancer winners: Tagrisso, the company's lung cancer treatment, pulled in $1.90 billion with 12% growth (10% constant currency). Imfinzi, used for various cancer types, surged 39% (37% constant currency) to $1.75 billion. Calquence, a blood cancer drug, climbed 20% (17% constant currency) to $967 million. Even Lynparza, the oldest of the bunch, managed 4% growth (1% constant currency) to $878 million.
Not everything sparkled quite as brightly. The cardiovascular, renal, and metabolism segment—representing 20% of total sales—slipped 3% (down 6% at constant currency) to $3.05 billion. Still, Farxiga, the division's heavyweight, managed to grow 7% (2% constant currency) to $2.06 billion, which isn't bad for a mature drug.
The respiratory and immunology business showed resilience, rising 12% (10% constant currency) to $2.37 billion. Symbicort revenues increased 3% (2% constant currency) to $704 million, while Fasenra sales jumped 12% (10% constant currency) to $530 million.
Rare disease drugs stayed essentially flat at $2.37 billion (down 1% constant currency). Ultomiris continued its strong run with 16% growth (15% constant currency) to $1.27 billion, but that was partially offset by Soliris declining 26% to $401 million as patients transition to newer treatments.
Geographically, U.S. sales climbed 6% to $6.93 billion for the quarter, while China revenues edged up just 1% to $1.38 billion—a market that's clearly facing some headwinds.
CEO Pascal Soriot struck an optimistic tone, noting that "the momentum across our company is continuing in 2026, and we are looking forward to the results of more than 20 Phase 3 trial readouts this year." He emphasized the company's pipeline depth, highlighting more than 100 Phase 3 studies currently underway, including trials of what he called "transformative technologies" that could drive growth beyond 2030.
