AstraZeneca updates its value-building strategy to shareholders

|By:, SA News Editor

In a clear signal to Pfizer (PFE -1.5%) that it needs to dig quite a bit deeper into its pockets, AstraZeneca (AZN -0.7%) publishes an update to its growth strategy. It states that the company's transformation to growth is underway citing its new management team plus its growing and accelerating late-stage pipeline.

It provides long-term revenue targets for its five key growth platforms: Brilinta: $3.5B by 2023; Diabetes: $8B by 2023; Respiratory: $8B by 2023; Emerging markets: mid-to-high single digit growth; Japan: low single-digit growth.

New revenue targets: 2017 revenues in line with 2013's and $45B by 2023.