Consolidating its position as the "largest weighted stock" in the UK market, pharmaceutical giant AstraZeneca’s share price hits a record high.

During intraday trading on November 11, pharmaceutical giant AstraZeneca's UK stock price once rose by 2.5% to £134.6, setting a new all-time high. Its market value approached £210 billion ($282 billion), further consolidating its position as the largest weighted stock on the UK market.

As the largest weighted stock on the UK FTSE 100 Index, AstraZeneca's strong performance gave a significant boost to the market. Driven jointly by UK employment data enhancing central bank rate cut expectations, the FTSE 100 Index also rose by 1.1% during the session, simultaneously reaching a record high.

This round of gains was mainly supported by AstraZeneca's better-than-expected results released last week. According to the financial report, driven by sustained demand for innovative drugs, the company's total revenue in the first three quarters increased by 11% year-on-year, with core earnings per share rising by 15%. All business divisions and major regional markets achieved steady growth.

In addition, the US drug pricing agreement reached in October also provided an extra boost to the stock price. The agreement alleviated market concerns regarding uncertainty in US pharmaceutical policy. As AstraZeneca's largest source of income, the US market contributes over 40% of the company's total sales, and its policy environment has a significant impact on the stock price.

Risk warning and disclaimerThe market involves risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account individual user’s specific investment objectives, financial situation, or needs. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular situation. Investing accordingly is at your own risk.