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AstraZeneca launches a £1.1bn-a-year cost-cutting overhaul to fund new drugs but declines to say whether jobs will go

AstraZeneca's oncology, rare disease and respiratory divisions secured 47 project approvals in the first nine months of 2026, as third-quarter revenue rose seven per cent to $16.2bn.
AstraZeneca's oncology, rare disease and respiratory divisions secured 47 project approvals in the first nine months of 2026, as third-quarter revenue rose seven per cent to $16.2bn.

AstraZeneca's three-year 'Reshaping for Sustainable Growth' programme will carry an upfront cost of up to $2 billion (£1.5 billion) before delivering the annual savings, with CEO Pascal Soriot insisting the company will not shrink. The overhaul was unveiled alongside third-quarter results that beat analyst expectations, with revenue up 7% to $16.2 billion driven by double-digit growth in oncology and rare disease.

AstraZeneca employs around 10,000 people in the UK, at sites in Cambridge, Macclesfield, London and Speke, Liverpool.

CFO Aradhana Sarin said the programme would involve 'upskilling, reskilling, hiring new people' but also 'reducing slightly or reorganising slightly' in some areas.

Soriot separately revealed AstraZeneca is considering developing cancer vaccines using mRNA technology, though warned rivals may currently be better placed to advance personalised treatments.

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