{"id":2146,"date":"2025-07-30T09:45:48","date_gmt":"2025-07-30T09:45:48","guid":{"rendered":"https:\/\/www.iforbes.cz\/?p=2146"},"modified":"2025-07-30T09:45:48","modified_gmt":"2025-07-30T09:45:48","slug":"astrazeneca-se-chce-pojistit-proti-clum-investicemi-ktere-evropa-nikdy-predtim-nevidela","status":"publish","type":"post","link":"https:\/\/www.iforbes.cz\/index.php\/2025\/07\/30\/astrazeneca-se-chce-pojistit-proti-clum-investicemi-ktere-evropa-nikdy-predtim-nevidela\/","title":{"rendered":"AstraZeneca se chce pojistit proti cl\u016fm investicemi, kter\u00e9 Evropa nikdy p\u0159edt\u00edm nevid\u011bla"},"content":{"rendered":"\n

AstraZeneca je jednou z nejinovativn\u011bj\u0161\u00edch farmaceutick\u00fdch spole\u010dnost\u00ed sou\u010dasnosti, no tentokr\u00e1t neupoutala pozornost nov\u00fdm l\u00e9kem, ale ozn\u00e1men\u00edm investi\u010dn\u00edho pl\u00e1nu, kter\u00fd nem\u00e1 v Evrop\u011b obdoby. Firma hodl\u00e1 do roku 2030 investovat ve Spojen\u00fdch st\u00e1tech a\u017e 50 miliard USD. Jedn\u00e1 se o jeden z nejv\u011bt\u0161\u00edch z\u00e1vazk\u016f, jak\u00fd kdy evropsk\u00e1 farmaceutick\u00e1 spole\u010dnost na americk\u00e9m trhu u\u010dinila. C\u00edlem je pos\u00edlen\u00ed pozice v kl\u00ed\u010dov\u00e9m teritoriu a z\u00e1rove\u0148 ochrana p\u0159ed mo\u017en\u00fdmi obchodn\u00edmi p\u0159ek\u00e1\u017ekami, jako jsou nov\u011b zav\u00e1d\u011bn\u00e1 cla. Tento krok potvrzuje dlouhodobou snahu firmy budovat stabiln\u00ed z\u00e1klady r\u016fstu v oblastech v\u00fdzkumu p\u0159es v\u00fdrobu a\u017e po expanzi na nov\u00e9 trhy.<\/strong><\/p>\n\n\n\n

O spole\u010dnosti<\/strong><\/p>\n\n\n\n

AstraZeneca, glob\u00e1ln\u00ed farmaceutick\u00e1 spole\u010dnost se s\u00eddlem ve Velk\u00e9 Brit\u00e1nii, v uplynul\u00e9m desetilet\u00ed v\u00fdrazn\u011b transformovala sv\u00e9 podnik\u00e1n\u00ed. Dlouhodob\u011b se zam\u011b\u0159uje na inovace, strategick\u00e9 akvizice a zvy\u0161ov\u00e1n\u00ed efektivity, co\u017e j\u00ed pom\u00e1h\u00e1 udr\u017eovat konzistentn\u00ed r\u016fst a diverzifikovat zdroje p\u0159\u00edjm\u016f. Mezi nejd\u016fle\u017eit\u011bj\u0161\u00ed miln\u00edky pat\u0159\u00ed roz\u0161\u00ed\u0159en\u00ed portfolia onkologick\u00fdch l\u00e9k\u016f. Ty jsou dnes kl\u00ed\u010dov\u00fdmi pil\u00ed\u0159i r\u016fstu tr\u017eeb a posiluj\u00ed pozici firmy v oblasti onkologie a imunologie. V posledn\u00edch letech AstraZeneca prosazuje strategii agresivn\u00edch akvizic za \u00fa\u010delem pos\u00edlen\u00ed v\u00fdvoje nov\u00fdch l\u00e9k\u016f a z\u00e1rove\u0148 adaptace na pr\u00e1vn\u00ed a tr\u017en\u00ed v\u00fdzvy. Mezi v\u00fdznamn\u00e9 n\u00e1kupy pat\u0159\u00ed kanadsk\u00e1 spole\u010dnost Fusion Pharmaceuticals, kter\u00e1 se v\u011bnuje radiofarmak\u016fm, za 2,4 miliardy USD, \u010di EsoBiotec, zam\u011b\u0159en\u00e1 na bun\u011b\u010dnou terapii, s potenci\u00e1ln\u00ed hodnotou a\u017e do 1 miliardy USD.<\/p>\n\n\n\n

Americk\u00fd investi\u010dn\u00ed pl\u00e1n<\/strong><\/p>\n\n\n\n

Dne 21. \u010dervence 2025 spole\u010dnost ozn\u00e1mila sv\u016fj ambici\u00f3zn\u00ed pl\u00e1n investovat do roku 2030 ve Spojen\u00fdch st\u00e1tech a\u017e 50 miliard USD, co\u017e p\u0159edstavuje jeden z nejv\u011bt\u0161\u00edch z\u00e1vazk\u016f evropsk\u00e9 farmaceutick\u00e9 firmy na americk\u00e9m trhu. Investice budou sm\u011b\u0159ovat do v\u00fdroby a v\u00fdzkumu a v\u00fdvoje. Z toho 4 miliardy dolar\u016f jsou vy\u010dlen\u011bny na v\u00fdstavbu nov\u00e9ho z\u00e1vodu ve Virginii, zam\u011b\u0159en\u00e9ho na l\u00e9\u010dbu chronick\u00fdch onemocn\u011bn\u00ed. AstraZeneca pl\u00e1nuje vyu\u017e\u00edt i sv\u00e9 st\u00e1vaj\u00edc\u00ed americk\u00e9 kapacity, v\u010detn\u011b dvou velk\u00fdch v\u00fdzkumn\u00fdch center v Gaithersburgu v Marylandu a v Cambridge v Massachusetts. Na\u010dasov\u00e1n\u00ed tohoto kroku nen\u00ed n\u00e1hodn\u00e9. Spole\u010dnost t\u00edm reaguje na mo\u017en\u00e9 uvalen\u00ed cel na dovoz l\u00e9k\u016f z Evropy v d\u016fsledku zm\u011bn americk\u00e9 obchodn\u00ed politiky. Pos\u00edlen\u00edm v\u00fdroby a v\u00fdvoje p\u0159\u00edmo na \u00fazem\u00ed USA se chce AstraZeneca chr\u00e1nit p\u0159ed naru\u0161en\u00edm dodavatelsk\u00e9ho \u0159et\u011bzce a zv\u00fd\u0161en\u00fdmi n\u00e1klady spojen\u00fdmi s cly. Z\u00e1rove\u0148 t\u00edm upev\u0148uje svou pozici na nejv\u011bt\u0161\u00edm farmaceutick\u00e9m trhu sv\u011bta.<\/p>\n\n\n\n

\u0160ir\u0161\u00ed dopad potenci\u00e1ln\u00edch cel na farmaceutick\u00e9 spole\u010dnosti<\/strong><\/p>\n\n\n\n

Investice spole\u010dnosti AstraZeneca v USA je sou\u010d\u00e1st\u00ed \u0161ir\u0161\u00edho trendu mezi evropsk\u00fdmi farmaceutick\u00fdmi firmami, kter\u00e9 se sna\u017e\u00ed p\u0159esouvat v\u00fdrobu a v\u00fdzkum do Spojen\u00fdch st\u00e1t\u016f v o\u010dek\u00e1v\u00e1n\u00ed mo\u017en\u00e9ho uvalen\u00ed cel. Cla na dov\u00e1\u017een\u00e9 l\u00e9ky by mohla zv\u00fd\u0161it n\u00e1klady spole\u010dnost\u00ed, kter\u00e9 spol\u00e9haj\u00ed na v\u00fdrobu v Evrop\u011b, co\u017e by vedlo bu\u010f k vy\u0161\u0161\u00edm cen\u00e1m pro pacienty, nebo ke sn\u00ed\u017een\u00ed ziskov\u00fdch mar\u017e\u00ed. Lokaliza\u010dn\u00ed strategie, jako je ta AstraZenecy, mohou z\u00e1sadn\u011b prom\u011bnit cel\u00e9 odv\u011btv\u00ed \u2013 urychl\u00ed investice do americk\u00fdch v\u00fdrobn\u00edch kapacit, vytvo\u0159\u00ed nov\u00e1 pracovn\u00ed m\u00edsta a podpo\u0159\u00ed inovace. Na druhou stranu firmy, kter\u00e9 nemaj\u00ed dostatek zdroj\u016f nebo flexibility k podniknut\u00ed podobn\u00fdch krok\u016f, budou v\u016f\u010di zm\u011bn\u00e1m v obchodn\u00ed politice zraniteln\u011bj\u0161\u00ed. Tento v\u00fdvoj by mohl d\u00e1le pos\u00edlit tr\u017en\u00ed postaven\u00ed nejv\u011bt\u0161\u00edch glob\u00e1ln\u011b integrovan\u00fdch farmaceutick\u00fdch gigant\u016f.<\/p>\n\n\n\n

Slibn\u00e9 pokroky v l\u00e9\u010db\u011b rakoviny<\/strong><\/p>\n\n\n\n

AstraZeneca potvrzuje svou pozici l\u00eddra v oblasti onkologie. Nejnov\u011bj\u0161\u00ed v\u00fdsledky t\u0159et\u00ed f\u00e1ze klinick\u00e9 studie FLAURA2 uk\u00e1zaly, \u017ee kombinace jej\u00edho kl\u00ed\u010dov\u00e9ho l\u00e9ku TAGRISSO s chemoterapi\u00ed v\u00fdrazn\u011b zvy\u0161uje \u0161ance na p\u0159e\u017eit\u00ed u pacient\u016f s pokro\u010dilou formou rakoviny plic s mutac\u00ed EGFR. Tento pr\u016flomov\u00fd v\u00fdsledek p\u0159ich\u00e1z\u00ed v dob\u011b, kdy m\u00e1 AstraZeneca tr\u017en\u00ed kapitalizaci p\u0159ibli\u017en\u011b 213 miliard dolar\u016f a mimo\u0159\u00e1dn\u011b vysokou hrubou mar\u017ei 82 %, co\u017e z n\u00ed \u010din\u00ed jednu z nejziskov\u011bj\u0161\u00edch firem v oboru. O\u010dek\u00e1v\u00e1 se tak\u00e9, \u017ee prodeje v kl\u00ed\u010dov\u00fdch segmentech podpo\u0159\u00ed nov\u00e9 indikace l\u00e9ku TAGRISSO a \u010derstv\u00e1 schv\u00e1len\u00ed pro p\u0159\u00edpravky Imfinzi a Datroway.<\/p>\n\n\n\n

Hospod\u00e1\u0159sk\u00e9 v\u00fdsledky<\/strong><\/p>\n\n\n\n

V prvn\u00edm \u010dtvrtlet\u00ed roku 2025 se celkov\u00e9 tr\u017eby spole\u010dnosti AstraZeneca meziro\u010dn\u011b zv\u00fd\u0161ily o 7,17 % na 13,6 miliardy USD, co\u017e je v souladu s p\u0159edchoz\u00edm v\u00fdhledem. \u010cist\u00fd zisk vzrostl o 33 % na 2,9 miliardy USD a upraven\u00fd zisk na akcii (EPS) vzrostl o 21 % na 2,49 USD, a to d\u00edky zaveden\u00fdm i nov\u00fdm produkt\u016fm. Nejsiln\u011bj\u0161\u00edm segmentem z\u016fstala onkologie. Pozitivn\u00ed v\u00fdsledky klinick\u00fdch studi\u00ed l\u00e9\u010div by m\u011bly pomoci udr\u017eet vedouc\u00ed postaven\u00ed spole\u010dnosti v l\u00e9\u010db\u011b rakoviny a v\u00fdznamn\u011b p\u0159isp\u011bt k jej\u00edm budouc\u00edm v\u00fdnos\u016fm. \u0160ir\u0161\u00ed portfolio spole\u010dnosti tak\u00e9 zaznamenalo silnou v\u00fdkonnost, v\u010detn\u011b l\u00e9\u010dby imunitn\u00edch, respira\u010dn\u00edch a vz\u00e1cn\u00fdch onemocn\u011bn\u00ed, co\u017e pomohlo diverzifikovat rizika a podpo\u0159it celkov\u00fd r\u016fst.<\/p>\n\n\n\n

O\u010dek\u00e1v\u00e1 se, \u017ee v\u00fdsledky za druh\u00e9 \u010dtvrtlet\u00ed 2025 vygeneruj\u00ed tr\u017eby ve v\u00fd\u0161i p\u0159ibli\u017en\u011b 14,08 miliardy USD. Oproti prvn\u00edmu \u010dtvrtlet\u00ed by se jednalo pouze o m\u00edrn\u00fd n\u00e1r\u016fst. V m\u00edstn\u00edch m\u011bn\u00e1ch se v\u0161ak o\u010dek\u00e1v\u00e1 r\u016fst tr\u017eeb a zisku kolem 11 %. Investo\u0159i budou sledovat p\u0159edev\u0161\u00edm v\u00fdvoj v onkologii a dal\u0161\u00edch v\u00fdznamn\u00fdch segmentech a tak\u00e9 to, zda spole\u010dnost tato o\u010dek\u00e1v\u00e1n\u00ed napln\u00ed. Pozornost bude zam\u011b\u0159ena tak\u00e9 na mo\u017en\u00e9 dopady obchodn\u00ed politiky.<\/p>\n\n\n\n

\"Obr\u00e1zek<\/figure><\/div>\n\n\n\n

V\u00fdkonnost akci\u00ed spole\u010dnosti AstraZeneca za posledn\u00edch 5 let. (Zdroj: tradingview.com)*<\/em><\/em><\/p>\n\n\n\n

Z\u00e1v\u011br<\/strong><\/p>\n\n\n\n

Navzdory solidn\u00edm fundament\u016fm se akcie spole\u010dnosti k 22. \u010dervenci 2025 obchodovaly na nejni\u017e\u0161\u00ed \u00farovni od kv\u011btna, p\u0159i\u010dem\u017e byly tak\u00e9 o 21 % ni\u017e\u0161\u00ed ne\u017e jejich historick\u00e9 maximum ze srpna lo\u0148sk\u00e9ho roku. To p\u0159edstavuje mo\u017enou p\u0159\u00edle\u017eitost pro investory. Pro farmaceutickou spole\u010dnost, kter\u00e1 pravideln\u011b \u010del\u00ed vysok\u00fdm n\u00e1klad\u016fm na v\u00fdzkum a v\u00fdvoj, regula\u010dn\u00edm rizik\u016fm a dlouh\u00e9mu \u010dasov\u00e9mu horizontu pro schv\u00e1len\u00ed l\u00e9k\u016f, je takov\u00fd konzistentn\u00ed r\u016fst tr\u017eeb a zisk\u016f v\u00fdjime\u010dn\u00fd a sv\u011bd\u010d\u00ed o siln\u00e9 inova\u010dn\u00ed kapacit\u011b a efektivn\u00edm obchodn\u00edm modelu.<\/p>\n\n\n\n

Adam Austera, analytik <\/strong>Ozios<\/strong><\/a><\/p>\n\n\n\n

Foto: AdobeStock<\/em><\/p>\n\n\n\n

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AstraZeneca je jednou z nejinovativn\u011bj\u0161\u00edch farmaceutick\u00fdch spole\u010dnost\u00ed sou\u010dasnosti, no tentokr\u00e1t neupoutala pozornost nov\u00fdm l\u00e9kem, ale ozn\u00e1men\u00edm investi\u010dn\u00edho pl\u00e1nu, kter\u00fd nem\u00e1<\/p>\n","protected":false},"author":1,"featured_media":2148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout"},"categories":[58],"tags":[362,361,190,267],"_links":{"self":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2146"}],"collection":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/comments?post=2146"}],"version-history":[{"count":1,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2146\/revisions"}],"predecessor-version":[{"id":2149,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2146\/revisions\/2149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/media\/2148"}],"wp:attachment":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/media?parent=2146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/categories?post=2146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/tags?post=2146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}