AstraZeneca Shares Surge 7% on Strong Q3 Earnings and Cost‑Cutting Plan

AstraZeneca’s stock jumped nearly 7% after the company reported Q3 revenue of $16.21 billion, up 7% year‑over‑year, and core earnings of $2.79 per share, beating expectations of $2.59. Oncology revenue grew 17%, driven by a 35% increase in Enhertu sales and a 26% rise in Imfinzi. The company also announced a restructuring plan that will generate $1.5 billion in annual savings, with up to $2 billion in upfront costs over the next three years, and will reinvest those savings into its pipeline of more than 180 projects. Despite setbacks in some generic‑challenged drugs and halted trials, investors are optimistic that the company’s cancer portfolio can offset revenue losses from older products.