Drugmaker AstraZeneca lifted its annual sales and profit forecast for the second time this year on Tuesday, helped by strong demand for its cancer and rare diseases medicines, after third-quarter results beat estimates.

AstraZeneca has become the latest big pharma company to devote new cash to its US manufacturing muscle this year as it unveils a $3.5 billion infusion into US sites.

The pharmaceutical giant raised its full-year guidance after third-quarter revenue and core earnings per share topped analysts’ expectations.

Drugmaker AstraZeneca lifted its annual sales and profit forecast for the second time in less than four months on Tuesday, helped by resilient demand for its cancer and rare diseases medicines, after third-quarter results beat estimates.

AstraZeneca’s AZN third-quarter 2024 core earnings of $1.04 per American depositary share (ADS) beat the Zacks Consensus Estimate of $1.01 per share. Core earnings of $2.08 per share fell 20% year over year on a reported basis and 27% at constant exchange rates (CER).