AstraZeneca has outlined plans to grow annual sales to more than USD 45 billion by 2023 as an independent company, days after the drugmaker rejected a takeover bid by rival Pfizer.
In an update to shareholders, AstraZeneca said investors would share the benefits of a "strong and consistent revenue growth" projected for 2017-2023.
The UK-based company on Friday spurned Pfizer's third acquisition proposal, this time for about USD 106 billion. AstraZeneca PLC, the No 8 drugmaker, called that inadequate and said the potentially lucrative "pipeline" of new drugs it is developing would be disrupted by a takeover.
AstraZeneca's revenues last year were USD 25.7 billion, down 6 percent on the previous year, but the company today said that under its new management and strategy it is now "repositioned for a return to growth.
