SPY - AstraZeneca's Oncology Success: Fueling Future Growth

2024-06-25 12:54:41 ET

Summary

• AstraZeneca is becoming a leader in the cancer therapeutics market, which is reflected in the growth of its share price.
• On June 25, 2024, Tagrisso, in combination with chemotherapy, was approved in Japan as the first-line treatment for people with NSCLC whose tumors have certain mutations.
• Tagrisso sales were about $1.6 billion in the first three months of 2024, up 12% year-over-year.
• On June 4, AstraZeneca announced that it had completed its acquisition of Fusion Pharmaceuticals, thereby strengthening its oncology portfolio with next-generation radioconjugates.
• Consequently, I continue to cover AstraZeneca with a 'buy' rating.

Since my last article was published in early February 2024, AstraZeneca's share price ( AZN ) has risen more than 23%, outperforming the S&P 500 ( SPY ) and many of its peers, some of which will be mentioned in the article....

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