British drugmaker AstraZeneca () increased its full-year sales outlook on booming demand for its cancer and rare-disease drugs, and said it plans to invest $3.5 billion in its U.S. business by the end of 2026.

The company now projects fiscal 2024 revenue and core earnings per share (EPS) to grow by a hig🥀h-teens percentage, up from a mid-teens percentage.

"Our company has continued on its strong growth trajectory in the first nine months of 2024," 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Pascal Soriot said, noting that the lifted guidance ref🍨lected growing demand for "medicines across oncology, biopharmaceuticals and rare disease."

AstraZeneca's $3.5 billion U.S. expansion plan includes $2 billion to create "more than a thousand new, high-skilled jobs contributing to the growth of the U.S. economy," it said. The funds will go toward a 澳洲幸运5官方开奖结果体彩网:research and development (R&D) center in Cambridge, Mass.; a next-generation bi🍎ologics manufacturing facility in Maryland; "specialty manufacturing" in Texas; and "cell therapy manufacturing capacity on the West and East Coasts," although it didn't specify where.

AstraZeneca Posts Higher-Than-Estimate🍷d Q3 Results

The British firm also reported higher-than-estimated third-quarter results. The company posted revenue of $13.57 billion, up from $11.49 billion last year and above the $13.07 billion consensus projection of analysts compiled by Visible A꧙lpha. Core EPS of $2.08 also beat estimates of $2.06.

AstraZeneca said it hasn't "received any notification that it is itself under investigation" in China after dozens of its senior executives in the country were 澳洲幸运5官方开奖结果体彩网:implicated last week in an insurance fraud case. "We take th♒e matters in China very seriously. If requested we will fully cooperate with the authorities," Soriot said.

The pharma giant's U.S.-traded shares, which were about 4% lower on the year through Monday's close, are up about 1.6% midday Tuesday.

Update: Nov. 12, 2024: This article has been updated to reflect fresh market numbers.