Proactive Investors – AstraZeneca PLC (LON:AZN) has set out its ambition to deliver $80 billion in annual revenue by the end of the decade, boosted by the launch of 20 new drugs from its pipeline.
This would almost double the level of sales, having generated $45.8 billion in 2023.
It believes this growth can come from its existing oncology, biopharmaceuticals and rare disease portfolio and the flow from its pipeline.
As for profits, it is targeting a mid-30s percentage core operating margin by 2026, then “at least” that same range after that.
JPMorgan boss’s announcement hits Dow Jones
The reason the Dow Jones fell yesterday was that JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon, 68, signalled that his retirement is closer than ever.
It was the big surprise at the Wall Street bank’s investor day, with Dimon having held the reins for nearly two decades and driven the lender to become the largest in America by assets and market cap.
“The timetable isn’t five years anymore,” Dimon said adding that new board assignments were being made to prepare. “We’re on the way, we’re moving people around,” he added.
JPM shares fell 4.5%.
FTSE 100 called lower on Tuesday
The FTSE 100 has been called sharply lower on Tuesday after a mixed finish on Wall Street overnight and a fall in oil prices.
Ahead of the opening bell, the London benchmark was trading down 22 points on spread-betting platforms, after closing almost four points higher at the start of the week at just over 8424.
As for oil prices, Brent crude futures are down 0.6% at $83.19, down 3.8% over a month.
Overnight, the Nasdaq Composite rose 0.65% to a new all-time high, but still off its elusive 17,000, while the Dow Jones retreated from its own ATH, falling 0.49%. The S&P 500 was slightly above flat.
This morning in the UK we have results from B&Q owner Kingfisher (LON:KGF), water company Pennon (LON:PNN), hot on the heels of an apology over Brixham’s water-related diarrhoea outbreak.
Later on there will be grocery sector data from Kantar and the CBI industrial trends numbers.
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