This growth was driven by strong sales in its oncology, respiratory and immunology, and cardiovascular, renal and metabolism segments.

The oncology branch saw a significant 26% increase in revenue, while respiratory and immunology revenue rose by 17%.

The growth was attributed to increasing demand for the company's best-selling medicines and continuing partner drug sales.

AstraZeneca reported a 16% increase in revenue from rare diseases for the first quarter of the year.

The company's core operating margin was 34%, with core earnings per share (EPS) rising 13% to $2.06.

Core Product Sales gross margin was 82%.

AstraZeneca announced an increase in dividend payments by $0.20 per share, bringing the total to $3.10 per share.

The company reiterated its previous core EPS guidance for financial year 2024, estimating it to grow between the low double digits and low teens percentage.

This is also the expected guidance for total revenue for the year.

CEO Pascal Soriot made these announcements in the earnings release.

The text reports that the company's pipeline is showing strong momentum, with positive trial results for Imfinzi and Tagrisso in lung cancer announced this year, which will be presented at ASCO in June.

The company is also anticipating the results of several other important trials throughout the year.

At the Annual General meeting, there was a 7% increase in the annual dividend announced.

The company will outline its growth plans at an Investor Day on May 21, 2024.