Baxdrostat

iStock, Robert Way AstraZeneca is relying on several upcoming products to help hit its target of $80 billion in revenue by 2030, including drugs for hypertension, breast cancer and generalized myasthenia gravis, all of which are currently under FDA review. In May 2024, AstraZeneca set a lofty goal for itself : hit $80 billion in total revenue by 2030, a bar that exceeded analysts’ forecasts at the time. At the 44th J.P. Morgan Healthcare Conference on Tuesday, not only did the pharma double down on this target, but it outlined its strategy to get there, emphasizing upcoming drug launches and its stacked oncology pipeline. Speaking to analysts and investors during a company presentation , CFO Aradhana Sarin admitted that at the time it was announced, $80 billion “was obviously a stretch target” for AstraZeneca even as the pharma “felt it was within reach.” A year and a half later, she said, “We do feel it is very much within reach.” Consensus estimates increasingly seem to agree with this assessment, Sarin added, noting that forecasts rose from $67 billion in 2024 to around $76 billion by mid-2025. Now that figure is nearing $80 billion. “I think people are getting more confident,” she said. AstraZeneca expects to bring a clutch of high-value products to the market in the near-term, Sarin said, “including baxdrostat, camizestrant and gefurulimab, all of which are under regulatory review.” Baxdrostat is an investigational aldosterone synthase inhibitor being proposed to lower blood pressure in patients with hard-to-control hypertension. The FDA accepted its new drug application last month. Camizestrant is an oral SERD being tested for breast cancer, while gefurulimab is an antibody that inhibits the complement C5 protein to treat generalized myasthenia gravis. Aside from its commercial potential, Sarin on Tuesday also touted AstraZeneca’s cancer pipeline, particularly its antibody-drug conjugates (ADCs), as a key contributor to its 2030 revenue goal. In the first half of this year, for instance, the company expects to reveal data for sonesitatug vedotin, which targets Claudin18.2, in second-line gastric cancer, she said. The pharma is also advancing puxitatug samrotecan for endometrial cancer and torvutatug samrotecan in ovarian cancer. All told, AstraZeneca has eight wholly owned clinical-stage ADCs, “giving us the potential to address around 80% of the potential patient population in our focused solid tumor areas,” she added. Sarin also touted the company’s cell therapy portfolio, including AZD-0120 for multiple myeloma and the bispecific T cell engager surovatamig, which is being developed for blood cancers. Both assets factor into AstraZeneca’s $80 billion target and “have $5 billion-plus non-risk-adjusted peak revenue potential,” she added.

iStock, f11photo Biopharma companies—including AstraZeneca, BioNTech and Agios—peered farther into the future on the second day of JPM, setting both revenue and R&D targets through the end of the decade. The J.P. Morgan Healthcare Conference is widely known as an annual starting gun for the biopharma industry, giving companies a platform to lay out their strategies for the coming year. On day two, however, companies looked farther afield, giving near-term roadmaps for their businesses and setting sales and clinical targets through the end of the decade. Some takeaways: AstraZeneca Doubles Down on 2030 $80B Goal At JPM, AstraZeneca’s Chief Financial Officer Aradhana Sarin said the company’s goal of hitting $80 billion in total revenue by 2030 is “very much within reach.” To get there, the pharma expects to launch a clutch of high-value products in the near term, including its hypertension drug baxdrostat, for which a new drug application was accepted last month. AstraZeneca’s breast cancer candidate camizestrant and myasthenia gravis drug gefurulimab are also approaching the market. Meanwhile, the pharma also draws confidence from its pipeline, particularly in cancer, for which it is testing eight wholly-owned clinical-stage antibody-drug conjugates (ADCs), as well as two cell therapies with potentially $5 billion in peak revenues. Read more about AstraZeneca at JPM 2026 here . BioNTech Continues Pivot From COVID to Cancer, With PD-1/VEGF at the Core BioNTech continues to move away from COVID-19 and return to its cancer roots. At a company event on Tuesday, the pharma laid out its strategic goals for this year: accelerate its late-stage pipeline, focus on combination therapies and move from a platform-centered to a tumor-driven approach. In a note to investors Tuesday evening, analysts at BMO Capital Markets said that pumitamig, BioNTech’s PD-1/VEGF bispecific antibody, “is at the heart” of the company’s 2026 strategy. Indeed, pumitamig is being studied both as a monotherapy—for breast cancer, hepatocellular carcinoma, colorectal cancer and different types of lung cancers—and as part of a combination regimen with ADCs. BioNTech is expecting a host of early- and late-stage readouts across its pumitamig program this year, as per a Monday release . Among the potential pumitamig indications, “focus remains on the near-term Ph 3 1L [triple-negative breast cancer] China readout,” BMO said. Data from this trial, the analysts added, will help determine if pumitamig could become “a next-generation IO backbone.” For BioNTech, a lot is riding on pumitamig’s success. The drug is under a June 2025 partnership with Bristol Myers Squibb, which has promised up to $7.6 billion in milestones. The PD-1/VEGF space is quickly filling up with rivals, including AbbVie, which put nearly $5 billion on the line this week for ex-China rights to a candidate from RemeGen. As for BioNTech, “With 8 pivotal studies across oncology indications, we could see the company shift into a commercial oncology company within the decade,” BMO said. Cancer AbbVie Bets Nearly $5B on RemeGen To Vie for Position in Hot Bispecific Market The deal, which sees AbbVie paying RemeGen $650 million upfront, gives the pharma ex-China rights to the biotech’s PD-1/VEGF bispecific antibody—a modality being targeted by companies including BMS, Merck and Pfizer. January 12, 2026 · 2 min read · Nick Paul Taylor Agios Eyes $10B Market Potential By 2030 Like AstraZeneca, Agios Pharmaceuticals announced a market target for itself: Unlock a market opportunity of more than $10 billion by 2030. Unlike the big pharma, however, Agios will build toward that opportunity by “evolving from an ultra-rare focus into a broader rare disease portfolio,” analysts at Truist Securities said in a Tuesday note. Indeed, during its company presentation , Agios named its early-stage assets AG-181 for phenylketonuria and AG-236 polycythemia vera as key to hitting its 2030 goal, with each contributing upwards of $1 billion in estimated sales. “Future growth will be driven by assets like AG-236, which extend the core concept of iron dysregulation and hepcidin feedback loops into larger disease populations,” Truist said. The biotech is also working on sickle cell disease, a $3 billion opportunity for which it is developing its pyruvate kinase activators mitapivat and tebapivat. Additionally, Agios is trialing tebapivat for lower-risk myelodyplastic syndromes, which it anticipates will open a $4.5 billion opportunity. This year, Agios will focus its efforts on setting itself up to hit its 2030 target. Key priorities for 2026 include launching its thalassemia drug Aqvesme, approved last month , as well as advancing its early-stage portfolio. Acadia Looks Beyond Analyst Expectations, Stands Against MFN Also looking ahead to the future is Acadia Pharmaceuticals, which announced that by 2028, it expects to report around $1 billion in sales for its antipsychotic Nuplazid and $700 million for the Rett syndrome drug Daybue. Such guidance far outstrips what analysts have forecast for these drugs, according to BMO Capital Markets, which highlighted the “disconnect between Street and internal expectations” in a note on Tuesday. Analysts were expecting $834 million in Nuplazid revenue and $621 million for Daybue. Helping the biotech reach its projected goal is the planned launch of the newly approved STIX formulation of Daybue, an oral solution that is free of dyes and preservatives. The company expects to make Daybue STIX available “on a limited basis” in the first quarter, followed by a broader market debut in the second quarter. Acadia is also planning to expand its Daybue franchise globally—a move that BMO said “may take time,” but will also be “one of the greatest drivers of long-term revenue growth.” Also at JPM, Acadia CEO Catherine Owen Adams said she has formed a group with other small biotechs to lobby for exemptions from the Trump administration’s Most Favored Nation pricing scheme and similar policies that could arise down the line. “I don’t think the administration is out to target small pharma or small biotech particularly. And what we’re trying to do is make sure that they understand that a peanut butter blanket approach to MFN probably would not be the best for U.S. innovation,” Owen Adams told BioSpace . Policy Acadia CEO Bands With Peers To Lobby Against MFN Drug Pricing for Small Biotech Acadia Pharma’s Catherine Owen Adams has formed a group of small- to mid-cap biotechs to advocate against a ‘peanut butter blanket’ approach to drug pricing for small companies. January 13, 2026 · 3 min read · Annalee Armstrong