rampagearcade| AstraZeneca has set a new goal: doubling revenue in 2030, with a target of US$80 billion!

AstraZeneca (AZNrampagearcade.US) CEO Pascal Soriot sets new goals for the companyrampagearcade, nearly double sales by 2030rampagearcade, reaching US$80 billion. Soriot is working to consolidate the wealth he left at the company, which he saved with a bet on cancer treatment.

AstraZeneca said on Tuesday that its revenue last year was US$45.8 billion and will launch 20 new drugs by the end of the decade to achieve its new total revenue target. Jefferies had predicted that by 2031, the company's revenue would exceed US$70 billion.

Because Soriot expects the company to stand out in the competitive cancer drug market, AstraZeneca recently set this goal for the first time in 10 years. Drug makers are scrambling to replace traditional chemotherapy with products that target cancer cells more accurately.

The last Investor Day was held in 2014 at Pfizer (PFErampagearcade.US) tried to acquire AstraZeneca, after Soriot took office for two years and had not yet proved himself. At the time, he promised to increase annual revenue to more than $45 billion by 2023, and a strategy focusing on cancer drugs such as Tagrisso and Imfinzi helped AstraZeneca achieve that goal.

Since then, the company has expanded its business to include Enhertu's antibody drug conjugates, a new class of drugs that can deliver high doses of drugs directly to tumors while minimizing damage to surrounding tissue.