AstraZeneca Reports Strong 2024 Results While Facing China Tax Probe

The pharmaceutical giant saw significant revenue growth and profit gains despite legal and financial challenges in its second-largest market.

AstraZeneca posted a 21% rise in revenue to $54.1 billion in 2024, driven by strong sales of cancer and immunology treatments.
Pre-tax profits increased by 38% to $8.7 billion as the company exceeded market expectations for earnings and revenue growth.
Chinese authorities are investigating AstraZeneca over $900,000 in alleged unpaid import taxes, which could result in fines of up to $4.5 million.
The company replaced its China president after the executive's arrest in 2024, and several former employees were sentenced in a separate medical insurance fraud case.
AstraZeneca recently canceled a $450 million vaccine plant investment in the UK, citing reduced government support under the current administration.