STORY: AstraZeneca aims to grow revenue to $80 billion by 2030.

That's a rise of about 75%.

The drugmaker believes it will boosted by the expected launch of 20 new medicines.

It also sees growth in its existing oncology, biopharmaceuticals and rare disease portfolio.

It earlier expected to launch at least 15 new medicines between 2023 and 2030.

The Anglo-Swedish company reported total revenue of $45.81 billion last year.

CEO Pascal Soriot has rebuilt the company's pipeline of new drugs since taking over more than a decade ago.

He said Tuesday that many of the new medicines AstraZeneca plans to launch have big potential.

And he thinks they could generate more than $5 billion in peak year revenues.

Shares in the firm rose 1% in early trade, ending a six-day losing streak.

AstraZeneca stock has gained about 15% so far this year, underperforming rivals like Novo Nordisk and GSK.