The AstraZeneca (LSE: AZN) share price stands out as one of the FTSE 100’s top blue-chip shares based on its recent performance. The equity has been one of the best-performing stocks in the index this year.
It’s easy to see why investors have rushed to buy shares in the company.
Astra is leading the world in developing a coronavirus vaccine along with Oxford University. While the treatment is still in its initial stages of development, if the group strikes gold, it could be a tremendous positive for the AstraZeneca share price.Â
But this is not the only reason why the share price looks like a great stock to buy today. The company has several other game-changing treatments in its repertoire as well.Â
AstraZeneca share price growthÂ
Over the past five years, Astra’s CEO, Pascal Soriot, has overhauled the way the company does business. He and his team have raised funds with licensing deals while investing billions in research and development.Â
This focus on research is paying off handsomely. Astra has focused its efforts on the field of oncology, or treating cancer. Its most successful treatments in this field are Tagrisso, the group’s flagship lung cancer treatment, and Lynparza, initially approved as an ovarian cancer drug. Sales of the former are expected to hit $6.9bn in 2026 while sales of the latter could hit $4.7bn in the same time frame.Â
This growth has supported the AstraZeneca share price. With a whole range of new treatments in the pipeline for the years ahead, it looks as if the growth can continue.Â
Long-term growthÂ
All of the above is great news for shareholders. Rising treatment sales mean Astra has more cash to reinvest, which should help underpin earnings growth for years to come.
As earnings expand, the AstraZeneca share price should follow suit.Â
And with the demand for healthcare only set to grow over the long term, Astra may have extremely bright prospects as a long-term investment. It already has a reputation as a FTSE 100 dividend champion.
The stock currently supports a dividend yield of 2.6%. That’s below the FTSE 100 average, but there’s plenty of scope for dividend growth in the years ahead. Especially with earnings per share projected to grow at a high single-digit percentage every year until the middle of the next decade.Â
The bottom lineÂ
All in all, if you’re looking for a stock to help you get rich and retire early, it could be worth considering buying the AstraZeneca share price today as part of a diversified portfolio.
The stock offers the perfect blend of capital growth and income. It could yield high total returns for investors for many years to come as it capitalises on the growing demand for healthcare around the world. A healthy balance sheet should also help support the company’s expansion in the years ahead.Â