AstraZeneca reported Total Revenue of $15.3 B for the first quarter of 2026, an increase of 13% at actual exchange rates and 8% at constant exchange rates (CER), driven by double‑digit growth in Oncology and Rare Disease. Product Sales were $14.4B, up 12% reported and 7% at CER, while Alliance Revenue rose 29% reported and 26% at CER to $0.8B, bringing Product Revenue to $15.2B, up 13% reported and 8% at CER. Collaboration Revenue was $0.8B, broadly stable year over year.
Reported earnings per share (EPS) for Q1 2026 were 1.99 dollars, an increase of 6% at actual rates and 8% at CER. Core EPS were 2.58 dollars, up 4% reported and 5% at CER, with management noting that the growth rate reflects a favorable tax rate in the prior‑year period. Core Operating profit increased 12% at CER, and the Core tax rate for the quarter was 21%; AstraZeneca maintained its full‑year Core tax rate expectation at 18–22%.
The company highlighted that four high‑value Phase III programs delivered positive readouts since the Q4 2025 results, including first pivotal data for two new molecular entities: tozorakimab in chronic obstructive pulmonary disease and efzimfotase alfa in hypophosphatasia. AstraZeneca also reported 14 regulatory approvals in major regions since the previous quarterly announcement.
For full‑year 2026, AstraZeneca reaffirmed its guidance at constant exchange rates, based on average 2025 foreign exchange levels. Total Revenue is expected to increase by a mid‑to‑high single‑digit percentage, and Core EPS is expected to grow by a low double‑digit percentage. The company continues to anticipate a Core tax rate between 18% and 22%. If foreign exchange rates from April to December 2026 match the average rates seen in March 2026, AstraZeneca estimates a low single‑digit positive impact on Total Revenue versus CER and Core EPS growth broadly similar to CER growth.
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