AstraZeneca profit beat, bullish tone ease worries over drug pipeline

July 27 (Reuters) - AstraZeneca stood by its annual and long-term forecasts on Monday, expressing confidence that recent trial setbacks had not undermined its long-term prospects as second-quarter profit beat market expectations.

Strong demand for cancer and rare disease drugs continues to drive growth, but investors are keen for signs that the pharmaceutical giant's 2030 revenue target is not under threat after an unexpected trial failure this month.

AstraZeneca aims to reach $80 billion in annual revenue by 2030, a target JPMorgan analysts said remains achievable after second-quarter profit topped analysts' predictions and sales were as expected.

"We're building a company that will not just deliver on our 2030 ambition, but continue to grow well into the next decade. We have the science, we have the pipeline, and we have the team to make this happen," CEO Pascal Soriot told journalists.