Drugmaker AstraZeneca launches a $1.5bn-a-year savings drive to fund its drug pipeline as shares jump 3.1 per cent

AstraZeneca has announced a three-year restructuring plan aimed at generating $1.5bn in annual savings, with the proceeds directed toward its drug pipeline as the Cambridge-based pharma giant pursues its $80bn revenue target for 2030. Chief executive Pascal Soriot said the company's development portfolio spans more than 180 projects and that progress remains on course despite some recent trial setbacks. The overhaul is expected to carry one-off charges of up to $2bn and to be substantially complete by 2029.

AstraZeneca has not confirmed whether the restructuring will involve job losses.

Third-quarter revenue rose seven per cent to $16.2bn, ahead of City expectations, even as Farxiga lost its US patent protection.

Growth was led by the oncology, rare disease and respiratory divisions, which together saw 47 projects win approval in the first nine months of 2026.