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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
Business Wire
2 hours ago
- Business Wire
Saltgrass Advisory Launches to Power the Next Wave of Healthcare AI Innovation
CHARLESTON, S.C.--(BUSINESS WIRE)--Saltgrass Advisory, a strategic management consulting firm focused on artificial intelligence and emerging healthcare technologies, today announced its official launch. The firm partners with healthcare institutions, startups, and investors to accelerate high-impact innovation by turning cutting-edge capabilities into scalable, real-world solutions. 'Saltgrass Advisory brought the strategic insight and healthcare expertise we needed to define and commercialize our oncology AI innovation,' said Brett Berman, director of operations - health solutions, Medical University of South Carolina. Saltgrass Advisory is led by seasoned executives who bring a rare blend of healthcare, data, and AI expertise. Robert Goodman leverages his track record as a data & AI leader at Deloitte and as an executive within Blackstone-and Vista-backed technology companies. Brian Litten draws on decades as a healthcare operator, including a successful NASDAQ IPO with Tabula Rasa in 2016, his roles as CEO of PathForward Oncology and Swift Medical, and deep leadership experience across the Blue Cross network. Together they're positioning Saltgrass as a trusted partner to drive healthcare innovation at scale. With AI evolving rapidly—and healthcare organizations under growing pressure to deliver better outcomes at lower cost—Saltgrass Advisory enters the market at a pivotal time. The firm guides leaders through this transformation with a focus on intelligent infrastructure, clinical relevance, and operational execution. Impact in Action Saltgrass Advisory is already delivering measurable impact, recently guiding the Medical University of South Carolina (MUSC) on the commercialization of its oncology AI platform, LAMPER, which has driven: an 80% reduction in support staff burden per patient, a 10–20% increase in clinical trial accrual, and 3–4 hours saved per patient across roles. Time-to-appointment readiness has dropped from 1–2 days to under a day. In just one department at MUSC, LAMPER is projected to deliver $2.1M–$10.2M in cost savings over five years, while unlocking new revenue through increased patient throughput and clinical trial enrollment. 'Saltgrass Advisory brought the strategic insight and healthcare expertise we needed to define and commercialize our oncology AI innovation,' said Brett Berman, director of operations, MUSC Health. 'Their team translated academic discovery into real-world impact.' Focused Expertise at the Intersection of Strategy, Technology, and Delivery Saltgrass Advisory—powered by a leadership team of seasoned operators who've built, scaled, and exited companies across the healthcare ecosystem—helps clients accelerate outcomes and unlock healthcare value: Commercialization and go-to-market execution AI strategy, data platforms, intelligent models, seamless integrations, and scalable operations Fractional leadership across product, operations, technology, and growth 1:1 advisory for institutional leaders and startup founders Regulatory, compliance, and policy navigation The Saltgrass Team Brian Litten, Managing Partner – Former digital health founder & CEO Robert Goodman, Managing Partner – Former data & AI executive at Deloitte Lisa Davis, Principal– Past CIO of top U.S. health plan; Former SVP, Intel Health Solutions Munish Khaneja, MD, Principal – Former health plan CMO, EmblemHealth and HealthEdge Drew Narayan, Principal – Former strategy leader at Blue Cross Blue Shield of North Carolina Archana Puthran, Principal – Former AI & digital health leader at UnitedHealth, OptumRx Jacob Jesson, Principal – Former EVP & chief revenue and experience officer, Medecision Paige Bagby – Principal - Former Ogilvy communications and public relations leader Speaker Series Saltgrass Advisory is live, and so is its new speaker series highlighting concrete steps to scale health AI. The series debuts August 19 at 11 a.m. ET. Register here. About Saltgrass Advisory
Hypebeast
2 hours ago
- Hypebeast
Tour The East London Office of an Architecture Communications Studio
In one of a few quiet spaces in East London's Shoreditch, architecture communications studioSALThas opened the doors to its new office space, which has been designed byTHISS Studio. With a brief to use 'as much reused material as possible', the design studio set about creating an open plan office that could transition into an event space or photography studio, with waste-saving solutions at its core. Expert-level scavenging was employed, with anything no longer needed being rehomed. The giant tables around which the space is centered are made from old steel catering tables, with the legs cut down to size and placed on casters. A worktop was crafted from leftover cork and white American oak trim – both saved from landfill. Rather than having a fixed meeting room, spaces are created with a huge linen curtain by London-based textile designerGeorgia Bosson, who sourced the end-of-roll fabric from an Irish mill. If not made from scratch from scrap material, furniture is second-hand, such as the bookcase shelving, which came via Gumtree and was once used in a butcher's. Colour is introduced across the columns and beams, which were coated in a rust-toned hue by sustainable paint brand Bleo. In a nod to the building's history, the floors have simply been sanded back and sealed with a matte varnish. 'We shared a commitment to minimising the use of virgin materials, and turning that ideal into reality required a collaborative, flexible design approach,' said Tamsin Hanke, Director at THISS Studio. 'The constraints actually became opportunities—introducing productive friction that sparked creativity and innovation, rather than assuming all materials were readily available.' 'Our new space is as much for our community as it is for SALT,' said Celeste Bolte, Founding Director at SALT. Head to the gallery above to take a look around.
