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AstraZeneca has announced a jump in sales in recent months after a surge in demand for cancer drugs, as the pharmaceutical giant prepares to plug 50 billion dollars (£37 billion) into its US expansion.

The drug-maker reported total revenues of 28 billion US dollars (£21 billion) for the first half of 2025.

This is 11% higher, at constant exchange rates, than the same period a year ago.

AstraZeneca said the uplift was largely driven by its oncology medicines, with product sales surging by 16% year on year, thanks to growth in demand for drugs including Tagrisso and Imfinzi.

Revenues from oncology products, which refer to the diagnosis and treatment of cancer, made up 43% of the company’s total sales.

The group’s pre-tax profit soared by 27% to 6.5 billion US dollars (£4.9 billion) for the first half, compared with last year.

AstraZeneca, which is based in the UK, last week pledged a mammoth investment into the US over the next five years, where it generates the highest proportion of sales.

The money will fund a new multibillion dollar manufacturing facility in Virginia, to be the firm’s largest single manufacturing investment in the world.

The new factory will produce drug substances for its growing weight management and metabolic portfolio, including oral GLP-1 products.

GLP-1 is the scientific term for weight-loss medication, which works by reducing food cravings.

Oral medicines can be taken in tablet form, while other drugs are taken as injections.

“Our strong momentum in revenue growth continued through the first half of the year and the delivery from our broad and diverse pipeline has been excellent,” Pascal Soriot, AstraZeneca’s chief executive, said.

“This landmark investment reflects not only America’s importance but also our confidence in our innovative medicines to transform global health and power AstraZeneca’s ambition to deliver 80 billion dollars revenue by 2030.”

Shares in AstraZeneca jumped by about 3.5% on Tuesday.