New Delhi, July 27 -- AstraZeneca Plc. shares rose on Monday after the British pharmaceutical giant reported stronger-than-expected quarterly earnings, fueled by robust demand for its blockbuster cancer treatments and growing optimism around its next generation of oncology medicines.

The stock gained as much as 2% in London trading, helping pare its losses for the year. By 4:56 p.m. GMT, AstraZeneca shares were up 1.72%, or 218 pounds, at 12,888 pounds. Despite the day's gains, the stock remains down 5.18% so far this year.

Adjusted earnings per share, excluding certain items, climbed 21% to $2.63 in the latest quarter, comfortably surpassing analysts' expectations.

The earnings growth was driven by continued strong demand for key onco...