Business·4/29/2026AI summary AstraZeneca and GSK Beat Q1 Profit Expectations as Pharma CEOs Warn of Europe Drug Launch Decline
AstraZeneca and GSK, the UK's second and ninth most valuable companies, both beat first-quarter profit expectations. AstraZeneca reported EPS of $2.58 versus $2.53 expected, while GSK posted EPS of £0.47 versus £0.43 expected. However, pharma CEOs including Novartis's Vas Narasimhan warned that Trump's MFN drug pricing policy could lead to fewer new drugs being launched in Europe unless continental competitiveness issues are addressed. AstraZeneca raised its 2026 guidance and is on track for its $80 billion revenue target by 2030.