AstraZeneca PLC Cancer News Boosts Soriot's $45 Billion Case

Newly reported data for AstraZeneca Plc (AZN)’s experimental cancer treatments “gives credibility” to the drugmaker’s forecast of $45 billion in annual revenue by 2023, according to Chief Executive Officer Pascal Soriot. The release of information on AstraZeneca’s new medicines this weekend at the American Society of Clinical Oncology meeting should lessen skepticism about the prediction, Soriot said in an interview yesterday at the Chicago conference. The estimate is 75 percent higher than 2013 sales.

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