Bloomberg Businessweek Daily 7/28/2025
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Yahoo
2 hours ago
- Yahoo
AstraZeneca CFO talks tariffs & shifting focus to US market
AstraZeneca's (AZN) revenue hit a record high in the second quarter, driven by cancer drug sales and growth in the US market. AstraZeneca CFO Aradhana Sarin sits down with Market Catalysts host Julie Hyman and Yahoo Finance Senior Healthcare Reporter Anjalee Khemlani to discuss the company's strategy to focus on the US and the impact of tariffs. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here. I wonder on the Obviously, the company is celebrating the fact that you hit the largest revenues reported for the quarter. That's really good news, especially as the stated goal is to grow by 2030, and half of that to be part of the US. Talk to me about that and the shift to being a quote-unquote American company now, rather than a sort of UK-based one that we've thought of all these years. Uh, so we, you know, last May, we set this ambition of achieving 80 billion in revenues by 2030, which was almost, you know, doubling our revenues from a 2023 base. Um, and, uh, the US is our our fastest growing market. Uh, when we stack, we don't stack very highly right now, uh, in the US when when you compare pharma revenues because a lot of the pharma companies in the US have much bigger sort of revenue base, but we're growing very fast and our hope is that we'll come, you know, in in in the top five and have half of our revenue. We also set an ambition to have 20 new medicines by 2030. And, um, we already have nine of them and, uh, we announced results for another five of them. So hopefully, uh, that shows that we're on track to to achieve that goal. Well, talk to me about why the US is growing that much far faster. Is it because the dynamics of the healthcare system help boost revenues with more prescribing the the way the PBM system is set up? What are the factors that are helping you grow and are helping you stay confident about achieving that goal? So, there are a bunch of different factors. Um, I think the US is still probably the the best market in the world that rewards innovation. Uh, and we are an innovation-driven company. And so, when new therapies come, you know, we we had a product for breast cancer in her two. Uh, we announced data for another breast cancer product. But as soon as new therapy comes, um, the US market is almost the first to provide access to patients for that new therapy. Uh, secondly, physicians are really, um, you know, we go to Congresses like ASCO where there's, you know, tens of thousands of oncology physicians. They're really into, um, looking at the data and making data-driven decisions. So, again, the, you know, the physicians want the best for their patients and patients are able to get access to medicines very quickly once, you know, drug is approved and so forth in the in the innovative space. In many other markets in the world, that whole process to get approval and then get access and reimbursement just takes a very long time. So that's one reason. Um, the second reason, uh, I think particularly beneficial for oncology medicines, uh, is the part D reform. Uh, so on one hand, the part D reform that was enacted hurts us because we are responsible for paying 20% in the catastrophic phase. But from a patient standpoint, if you're a patient, um, you know, in Medicare, your out of pocket is capped at $2,000. So you can get the best therapy and have no more to pay out of pocket, right? So being in that patient population and getting the best access to medicines and the best care and have your out of pocket limited, uh, is is also great for patients. Um, so I think it's it's where physicians and patients and innovation is rewarded. And that's why it's growing faster given our portfolio is all innovative medicines. So, so let's turn then to the manufacturing base rate and the investment that you're making in the US. And I have to ask about tariffs because we even as we discussed it this morning, this new EU sort of framework agreement, it's still sort of unclear. Are pharmaceuticals coming from the EU exempt? Are they not exempt? It seems a little unclear. So how under what assumption are you operating and how do you operate in that kind of environment? Um, yeah, so you know, I would say this is not a tariff is obviously new, but how we've been thinking about our strategic manufacturing, um, is probably goes back three, four years. So post COVID, we made a strategic decision because we're such a global company that we needed to have segregated supply chains. Um, so for example, uh, in in China and in the emerging markets, we supply a lot of that product from China. Um, in the US, majority of the product is supplied from the US and and so forth in Europe. There is, uh, you know, small minority of product, handful of products actually that we still import from Europe into the US. But we do have excess capacity in the US to manufacture those products. Uh, so what we're, you know, we have 11 manufacturing sites in in the US. So our intention once the tariffs, etc. were were announced and there was talks of tariffs, uh, in the short term was just manage through inventory, so build more inventory in in the US. Um, but we've also started tech transfers for those products which we do import and that those tech transfers would be completed, you know, within a within a year or so, so that we can be fully, you know, not just have the majority, but 100% of it being manufactured in in the US. Um, this new facility that we announced, uh, was part of the plan anyway, but that's a separate has nothing to do with tariffs. It's actually based on the demand that we see potentially for our cardiovascular for new cardiovascular medicine. So, um, but you know, you're right, I think there is a little bit of confusion on when the tariffs are going to be implemented. Um, there is from what I've heard, it is a 15%, but there's also talk that that's the cap. Uh, and, uh, the administration is sort of going to wait for the 232 investigation to actually put them into effect or decide. So, uh, in either case, I think we're very well prepared and and we probably have less exposure than than many companies. Related Videos Market's 'fuel' for further P/E expansion is 'nearing empty' Nvidia's TSMC order, Eli Lilly & Novo Nordisk sink, JPMorgan & Apple card Royal Caribbean, Merck, FuboTV: Trending Tickers Why Spotify stock is sinking double digits on Q2 earnings Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
US-Based geniant Expands International Footprint With Acquisition of London-Based Brand Experience Studio NewTerritory
Dallas, Texas & London, United Kingdom--(Newsfile Corp. - July 29, 2025) - Today, leading US-based experience consultancy, geniant, has announced its acquisition of NewTerritory, an award-winning UK-based design and brand experience studio founded by former Head of Design for Virgin Atlantic and LG Europe. The London-based team has gained international recognition through multi-sector, visionary projects for clients that include Delta Air Lines, Mercedes-Benz AG, Airbus and Coca-Cola. This move accelerates geniant's global growth strategy while directly addressing a fundamental need in business transformation - the ability to look across all interconnected customer and employee touchpoints, identify the moments that matter most, and then design and deliver next-generation experiences. "As more companies accept that the quality of their customer and employee experiences are key to marketplace success, the real challenge becomes identifying which moments to optimize first - and understanding why they matter," said David Lancashire, geniant's Chairman & Co-CEO. "NewTerritory's expertise in uncovering and shaping those Signature Moments that leave a lasting impression is a powerful addition to geniant's capabilities, strengthening our ability to guide companies toward what truly drives loyalty and impact." Commenting on the deal announcement, Luke Miles, Founder of NewTerritory, said: "Organizations face growing pressure to create distinctive, memorable experiences but often turn to partners unable to deliver at the intersection of creative vision, strategic insights and AI. What drew us to geniant was not just their mastery of these critical capabilities, but a shared belief that the current approach is broken, and that together we can help reimagine better workflows and experiences and actually bring them to life." geniant helps organizations see the big picture, bringing deep insight into customer needs together with a detailed understanding of internal workflows, through its integrated 'Insights, Experiences and AI-First' approach, delivering next-generation experiences. Insights: Proprietary research and analytics pinpoint critical moments that genuinely matter to customers and employees. Experiences: Elevating these moments into unified journeys across digital products, physical environments, and human interactions. AI-First: Guiding enterprises through IT modernization by embedding AI at the heart of products, workflows, and decision-making. Prove value quickly with targeted "lighthouse" projects that build momentum. Prioritize AI investments in alignment with clear business goals to achieve measurable results. Build an adaptive technology foundation that empowers leaders across the enterprise to launch new offerings, streamline operations, and scale with confidence. This cohesive approach enables brands to break free from the "experience echo chamber" and foster authentic, lasting customer and employee loyalty. -ENDS- For media information and editorial images, please contact: hello@ For high resolution copies of these images, please get in touch with the PR contact above: geniant, Chicago Studio To view an enhanced version of this graphic, please visit: New Territory, London Studio To view an enhanced version of this graphic, please visit: Luke Miles, Founder of NewTerritory To view an enhanced version of this graphic, please visit: About NewTerritory NewTerritory is a brand experience studio with capabilities spanning visioning, experience design, and communication. Based in London, the team, guided by data-driven insight, crafts seamless end-to-end experiences that build advocacy and deliver long-term value for brands. Founded by former head of design at Virgin Atlantic, Luke Miles, the studio is recognized for delivering game-changing brands and products within the travel, hospitality, and infrastructure industries. Visit to find out more. About geniant geniant is an experience consultancy helping organizations transform by uniting insights, customer and employee experiences, and AI-first technology. With a proven track record across diverse industries, geniant partners with enterprises to reimagine every touchpoint to deliver measurable business impact. Visit to learn more. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
3 hours ago
- Yahoo
Vietnam Block B gas project advances with FSO contract
PTSC South East Asia (PTSC SEA), a joint venture (JV) between PetroVietnam Technical Services Corporation (PTSC) and Yinson Production, has signed a lease and operate contract for a new floating storage and offloading (FSO) unit, set to bolster the Vietnam Block B gas project offshore. The contract, awarded by the Phu Quoc Petroleum Operating Company (PQPOC), is seen as a critical step for Vietnam's energy sector, enhancing the country's infrastructure. PQPOC, established by Vietnam National Industry – Energy Group (Petrovietnam), is responsible for the operation of the Vietnam Block B gas project, which includes Blocks B&48/95 and 52/97 in the south-west offshore region of Vietnam. The project, with an annual supply of 5.07 billion standard cubic metres of gas, aims to meet the growing energy needs of the south-west part of the country and provide economic benefits to the government, Petrovietnam and investors. Integral to the project's infrastructure, the new FSO will have a storage capacity of up to 350,000 barrels of condensate and is designed to be stationed for 25 years without the need for dry-docking. The turret-moored, double-hull FSO will be installed at a water depth of 80m. The firm period of the contract spans 14 years, with a potential extension of nine more years, bringing the total value to approximately $600m (VND15.72trn). The Vietnam Block B gas project's FSO is expected to achieve first condensate by the third quarter of 2027. Yinson CEO Flemming Guiducci Grønnegaard said: 'This contract reflects our strong partnership with PTSC and our long-standing commitment to Vietnam's offshore energy sector. 'The Block B FSO builds on our successful track record in the region and highlights our ability to deliver high-quality offshore assets that meet the specific needs of our clients. We are proud to support Vietnam's efforts to enhance energy security and are confident that this project will deliver long-term value for all stakeholders.' This new deal follows a previous award in November last year to PTSC AP, another JV between Yinson Production and PTSC, for the provision, charter, operation and maintenance of an FSO for Murphy Oil's Lac Da Vang project. Earlier this year, Yinson Production Offshore Holdings, a newly formed UK-based holding company of Yinson Production, signed a definitive agreement with a group of international investment firms. This agreement involves the issuance of $1bn ($749.89bn) in redeemable convertible preferred shares, along with 10% warrants, based on a post-money valuation of $3.7bn. "Vietnam Block B gas project advances with FSO contract" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
