Wrap up the first trading week of June.
It is safe to say the giant AstraZeneca has been the biggest addition to the New York Stock Exchange this year.
The company has an over $280 billion market cap, and it's looking to leverage artificial intelligence, a slew of FDA oncology approvals, as well as billions in investment commitments to hit an $80 billion revenue target by the end of this decade.
But keep in mind pharmer giants face a looming 100% US tariff rate on.
Imported branded products and this is slated to go into effect at the end of next month.
Well joining me fresh off ringing the opening bell is Dave Frederickson, Executive Vice-President, Oncology Business Unit at AstraZeneca.
Great to have you here.
Congratulations on the opening bell.
Thank you, Rey.
It's very exciting to be here and ringing the bell really represents a new chapter here in the United States for AstraZeneca.
We are leading in science and new innovations and what's that's translating into. is leading the pace that we're bringing new medicines to patients, leading in growth and leading in what's next.
Yes, and always being on the floor of the New York Stock Exchange, ringing the bell on the podium.
That is something that is celebrated here within the walls of this exchange.
But I do want to ask you about the harmonizing.
Listing structure.
What are the implications here?
Well, so in February of 2026 this year we listed here in New York and we have now a harmonized structure across New York, London, and Sweden.
And really the idea here is to make ourselves more attractive to the US investor.
That's so important because the US represents such an important part of our growth story.
We're a diversified company, but our US opportunity is tremendous.
The US investor also now has an opportunity to be a part of an industry with durable double-digit growth and a company in AstraZeneca that's leading that growth, and we think that we've got a great opportunity for US investors to participate in that.
Yes, and opportunity is the key word here.
Especially as we're here at the New York Stock Exchange, but you're just returning from the ASCO Cancer conference.
So tell us about the key takeaways from that and for investors as well as consumers alike.
What can they expect this year and beyond?
We are living in a new era of cancer care.
It is incredibly exciting and AstraZeneca is leading from discovery to delivery.
We're seeing new therapies emerge that Even 2 years ago weren't available for patients across the globe.
Smart chemotherapies that really can seek out cancer cells as opposed to the healthy cells.
Approaches to immunotherapy which harness the immune system of the body to combat cancer, and it's just incredibly exciting to see this progress and also more and more we are intervening and detecting cancer early, and when we're able to go early, it drives the opportunity for cure.
Yes, and as you mentioned, I do want to hear about how all of this is compressing the timeline for drug discovery.
So what is the impact here and how will this help you meet your targets?
Well, so we've set out an 80 billion revenue target by 2030 and to get there, part of the roadmap is 20 new medicines.
Now I'm pleased to say that we've achieved 10 of those 20 so far.
But in order to be able to get new medicines to patients, we have to move as quickly as possible to advance innovative science and artificial intelligence and the efforts that we're making are compressing so much along the way.
We're speeding up the time that we can get to discovery in labs.
We're shortening time to approvals.
We're working on so many aspects to allow us to be able to get from.
Years to single digit years that we can bring these assets and medicines to patients and that's something that we're incredibly focused on.
And finally, Dave, before I let you go, we have about 60 seconds here.
So when it comes to oncology within AstraZeneca, what is the long term goal as well as the vision?
The long term goal and vision is cure.
Cancer is many diseases, we know that, but as we begin to learn more and more about what drive individual cancers for specific patients, we can better tailor treatments in order to be able to help them live long lives, and that's what we're working on.
And there is more hope today for people that are diagnosed with cancer than ever before.
And AstraZeneca is leading this next new era of cancer care.
And of course all of that is very encouraging and at a time like this we can always use hope.
So thank you so much for joining us today and congratulations on the opening bell.
Thank you so very much.
Thank you so much.
