LONDON — Pharmaceutical company AstraZeneca on Tuesday said it planned to increase its total revenue to $80 billion by 2030 — up 75% from $45.8 billion in 2023. "We have a lot of confidence in this 80 billion ambition because of the portfolio and the breadth and scale of the portfolio that we see today," AstraZeneca's Chief Financial Officer Aradhana Sarin told CNBC's Arabile Gumede on Tuesday. AstraZeneca will focus on its oncology, biopharmaceuticals and rare diseases businesses and expects to release an additional 20 medicines in the next six years. "Many of them have the potential to be $5 billion drugs," Sarin noted. A company statement detailed that this revenue figure could be hit annually for many of the new medicines in peak years. Europe-traded shares in AstraZeneca were last 0.66% higher at 9:35 a.m. London time, following the announcement.