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Drugs giant AstraZeneca launches a £1.1bn-a-year cost-cutting overhaul but declines to say whether its 10,000 UK staff are safe

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 chief financial officer Aradhana Sarin confirmed the three-year 'reshaping for sustainable growth' programme will involve both hiring and reducing headcount in different areas, but insisted the overall workforce will not shrink. The Anglo-Swedish pharma giant employs around 10,000 people across UK sites including Cambridge, Macclesfield, London and Speke, Liverpool. Shares jumped 3.1 per cent to £134.50 on Friday as third-quarter revenue climbed seven per cent to $16.2bn, beating analyst forecasts.

The restructuring, costing up to $2bn in one-off charges, is designed to fund roughly 20 new drug launches needed to hit AstraZeneca's $80bn annual revenue target by 2030.

CEO Pascal Soriot said the company has more than 180 projects in its pipeline and called the 2030 ambition on track despite earlier trial setbacks on heart disease drug Wainua and cancer drug camizestrant.

Soriot also confirmed AstraZeneca is weighing cancer-vaccine development using mRNA technology, though executives cautioned rivals may currently be better placed to advance personalised treatments.

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