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Why do big companies make ambitious promises? Shareholder confidence and media hype certainly play a role, but failure is also a risk. For Tesla CEO Elon Musk, such promises are a dime a dozen. 1 in 2017 It guaranteed fully self-driving cars by the end of the year. innovation hasn’t happened yet.
Communicating goal-oriented efforts is especially important in the long-game world of pharmaceutical and biotechnology, where drug development and commercialization can take years, even decades. From sales figures to R&D milestones to environmental protections, companies looking to assure investors that the runway is clear for the foreseeable future are taking matters into their own hands by setting specific timelines.
This week, AstraZeneca $80 billion in sales by 2030Achieving this goal will require the integration of a lot of moving parts along the way, most importantly a series of cancer drugs that the company expects to individually deliver blockbuster hits over the next few years.
Of course, the UK-based pharmaceutical giant is no stranger to deep pockets. Amid threats of a potential takeover by Pfizer in 2014, AZ CEO Pascal Soriot said sales would continue. Reach $45 billion by 2023, reassured shareholders with assurances that its cancer pipeline will pay off in the long run. Soriot scaled back the goal to his $40 billion just a few years later, but lo and behold, Arizona still Over $45 billion Total revenue in 2023.
Will the company nearly double that figure by 2030? Time will tell, but the Solio Opponent This time, he may not appear so actively. That is the power of a promise fulfilled.
Goals meet reality
Johnson & Johnson is another big pharmaceutical company with bold ambitions: It is fast approaching a self-imposed deadline to reach $57 billion in pharmaceutical sales by 2025, and one that nearly slipped through its fingers.
J&J’s 2025 sales target, originally set at $60 billion but then cut due to currency issues, was threatened by biosimilar competition encroaching on its blockbuster immunology drug Stelara. But legal settlement Biosimilar maker Amgen says it will keep counterfeit products off shelves until January 2025, increasing the company’s chances of meeting its goals.
During an investor call in April, Jennifer Taubert, worldwide chairman of J&J’s innovative medicines division, said the company remains on track.
Pfizer CEO Albert Bourla (right) and other company executives.
Drew Angerer (via Getty Images)
Pfizer has faced struggles since the pandemic saw sluggish sales of its COVID-19 vaccine and several patent cliffs cut into revenue, costing Chief Executive Albert Bourla money in 2022. told reporters It could reach $18 billion between 2025 and 2030.
But at the same time, Bourla said the company plans to bring in $25 billion in additional revenue by 2030 through a series of acquisitions and pipeline advances. With cash on hand thanks to the pandemic windfall, M&A has already proven successful as a path to advance that goal. Acquisition of cancer drug maker Siegen Already recorded.
Companies like Moderna, which has only one product on the market, have distanced themselves from the commercial goals set by some of the big pharma companies, opting instead for a long-term research and development plan.
Moderna CEO Stephane Bancel in 2023 Revealed the plan Using its proprietary mRNA technology, which brought one of the first COVID-19 vaccines to market, the company has been able to launch 15 new products and advance 50 drug candidates into clinical trials in just five years. The company is working on a number of programs over the next few years, including an RSV vaccine that is expected to be approved in the U.S. in the first half of this year.
Environmental promises abound
and Increase in ESG investmentMany pharmaceutical companies have set sustainability and environmental protection goals. However, Many other fieldsFulfilling these ambitious promises is easier said than done.
He said companies are struggling to keep up with the reporting needed to meet sustainability goals. 2023 Survey Conducted by the University of Oxford. The researchers concluded that the drive to reduce emissions was primarily driven by external factors such as corporate image and mandated reporting.
As of 2023, just over half of biotech and pharmaceutical companies have committed to the United Nations’ Race to Zero initiative to achieve net-zero carbon emissions by 2050. report From My Green Lab.
Individual companies like Eli Lilly have made their own commitments to: Carbon neutral by 2030Pfizer plans to achieve: Net zero by 2040and most of the big pharmaceutical companies Setting sustainability goals.
