Good morning, CFOs. AstraZeneca is betting on a new-drug pipeline to achieve its revenue target by 2030; companies' pension funding increased in April; plus, a look at how high U.S. gas prices are rising.

AstraZeneca is inching closer to its goal of reporting $80 billion in revenue by 2030 as the U.K. drugmaker pushes further into the U.S. and develops new oncology, rare disease and weight-loss drugs, Mark Maurer reports.

How it’s been going: Revenue has been on the upswing since the company set its $80 billion target in 2024, with 2025 coming in at $58.74 billion. That was up from $45.81 billion in 2023, the year before it set the 2030 target.

When AstraZeneca set the revenue goal in 2024, it said it planned to develop 20 new medicines over the six-year period. The drugmaker said it achieved positive results in 16 out of 20 Phase 3 studies last year.

What’s to come: AstraZeneca’s coming slate of drugs includes oncology and rare disease treatments, as well as weight-management therapies. Some next-generation oncology medicines face hurdles, in part because they are in newer, unproven drug categories where existing clinical and competitive data is limited, said Michael Leuchten, a senior pharmaceuticals analyst at Jefferies. “The next-generation oncology assets are where the risk profile is a little bit higher than elsewhere, compared to the past,” Leuchten said.

AstraZeneca, meanwhile, is trying to gain ground in the highly competitive market for GLP-1 weight loss drugs. The company is hoping to be the second to market with an oral GLP-1 small molecule, behind Eli Lilly, Chief Financial Officer Aradhana Sarin said.

Quote: “We wanted to set our sights on the next big audacious goal,” Sarin told Mark. “I think we have created enough confidence in the market that we are very much on track.”

Monday

Earnings: Hims & Hers Health and Simon Property Group

The National Association of Realtors reports existing-home sales for April.

Tuesday

Earnings: On Holding

The National Federation of Independent Business releases its Small Business Optimism Index for April.

The BLS releases the CPI for April.

Wednesday

Earnings: Alibaba Group and Cisco

The BLS releases the producer price index for April.

Thursday

Earnings: Klarna and Viking Holdings

Trump plans to travel to Beijing to meet with his counterpart President Xi.

The Census Bureau reports retail and food services sales for April.

Companies' Pension Funding Increased in April

The estimated funding level of pension plans sponsored by S&P 1500 companies increased by 4 percentage points in April to 108% as a result of an increase in equity markets and a slight increase in discount rates, according to consulting firm Mercer LLC. As of the end of April, the plans' estimated aggregate surplus increased by $59 billion, to $124 billion, compared with a $65 billion surplus at the end of March, Mercer said.

"After economic uncertainty and increasing market volatility in March, equities rebounded in April and the S&P 500 rocketed to an all-time high at month-end on strong earnings reports and growing optimism for deescalation in the Middle East," says Mercer partner Matt McDaniel.

Oil markets have been rocked by the outbreak of war in the Persian Gulf, where roughly one-fifth of the world’s oil supply originates.

The shock waves have been felt from the Middle East, where big exporters like Kuwait have cut production, to American highways, where drivers are facing higher prices at the pump. The average price for a gallon of regular unleaded in California, where drivers pay the most in the U.S., is more than $6.

• Higher Gas Prices Are Seeping Into the Produce Aisle

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The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy.

Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.

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