AstraZeneca looks much better heading into 2024, Barron’s says

AstraZeneca’s ADS is down 0.7% in a “tough 2023” as the company has seen sales of its Covid-19 vaccine slow, and in October, it released disappointing trial data for its lung cancer treatment datopotamab deruxtecan, but the stock could “get a shot in the arm” next year, Teresa Rivas writes in this week’s edition of Barron’s. The Street estimates that AstraZeneca will deliver double-digit earnings growth in 2024 and 2025, respectively thanks to a diverse portfolio of blockbusters, such as diabetes medication Farxiga and ovarian cancer treatment Lynparza, which should generate sales of more than $3 billion each, the report states. New products such as immunotherapy drug Imfinzi – already one of AstraZeneca’s best sellers – could also “add real pop” to AstraZeneca’s stock, the author writes.