AstraZeneca reinforcing supply chain amid global tensions: CEO
AstraZeneca shares (AZN) revealed a first-quarter earnings beat on Thursday, posting revenue of $12.68 billion, a 19% year-over-year gain. In addition, the pharmaceutical giant has reiterated its full-year guidance by claiming its "core EPS is expected to increase by a low double-digit to low teens percentage." To keep that guidance, the company bolstered its drug production, particularly in China, as uncertainty caused by geopolitical conflicts gave cause for concern. Shares of the pharmaceutical giant are rising on this news. AstraZeneca CEO Pascal Soriot joins Yahoo Finance Health Reporter Anjalee Khemlani to discuss AstraZeneca's performance, its production abilities, and future cancer treatments. "We are very much engaged in China, and we have been for many, many years. Having said that, of course, we have considered all this geopolitical tensions, and we have established a very resilient supply chain. We have manufacturing sites in China for China and some other countries in the emerging markets, in particular," Soriot speaks on the company's international ties. "Aand of course, we have a supply chain that is dedicated to what you might call the Western world — the US and Europe, for instance. We are right now in the process of building a cell therapy manufacturing site in Maryland. So, we really have a very resilient supply chain that has shown that it can sustain a crisis, and the COVID was a good example of this. " For more expert insight and the latest market action, click here to watch this full episode. This post was written by Nicholas Jacobino
