FORM 6-K
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Report
of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For the
month of April 2025
Commission
File Number: 001-11960
AstraZeneca PLC
1
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AstraZeneca PLC
INDEX
TO EXHIBITS
1.
1st Quarter Results
Click on, or paste, the following link into your web browser, to
view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/5152G_1-2025-4-28.pdf
29 April 2025
AstraZeneca results: Q1 2025
Growth momentum and pipeline delivery set AstraZeneca on a strong
trajectory towards 2030 ambition
Revenue and EPS summary
|
|
Q1 2025
|
% Change
|
|
|
|
$m
|
Actual
|
CER1
|
|
- Product Sales
|
12,875
|
6
|
9
|
|
- Alliance Revenue
|
639
|
40
|
42
|
|
Product Revenue2
|
13,514
|
7
|
10
|
|
Collaboration Revenue
|
74
|
64
|
64
|
|
Total Revenue
|
13,588
|
7
|
10
|
|
Reported EPS ($)
|
1.88
|
34
|
32
|
|
Core3 EPS
($)
|
2.49
|
21
|
21
|
Key performance elements for Q1 2025
(Growth numbers at constant exchange rates)
∗ Total Revenue up 10% to $13,588m, driven by
double-digit growth in Oncology and
BioPharmaceuticals
∗ Growth in Total Revenue across all major
geographic regions
∗ Core Operating profit increased
12%
∗ Core Tax rate of 16% in the quarter due to
timing of settlements. Expectations for the full year Core tax rate
are unchanged at 18-22%
∗ Core EPS increased 21% to
$2.49
∗ Five positive Phase III readouts and 13
approvals in major regions since the prior
results
Pascal Soriot, Chief Executive Officer, AstraZeneca,
said:
"Our strong growth momentum has continued into 2025 and we have now
entered an unprecedented catalyst-rich period for our
company.
Already this year we have announced five positive Phase III study
readouts, including most recently the highly anticipated
DESTINY-Breast09 for Enhertu, as well as SERENA-6 for camizestrant
and MATTERHORN for Imfinzi; the latter two of these will feature in
the ASCO 2025 plenary sessions, reflecting the significance of
these data to the oncology community.
Our company is firmly committed to investing and growing in the US
and we continue to benefit from our broad-based source of revenue
and global manufacturing footprint, including eleven production
sites in the US covering small molecules, biologics as well as cell
therapy. Additionally, we have even greater US investment in
manufacturing and R&D planned, leveraging our two large R&D
sites in Gaithersburg MD and Cambridge MA.
Overall, we are making excellent progress toward our ambition of
eighty billion dollars in Total Revenue by 2030."
See Table 1 for details of clinical trial results since the prior
earnings announcement, including DESTINY-Breast09, MATTERHORN,
and SERENA-6.
See Note 4 for the locations of the eleven US manufacturing
sites.
Guidance
AstraZeneca reiterates its Total Revenue and Core EPS
guidance5 for
FY 2025 at CER, based on the average foreign exchange rates through
2024.
Total Revenue is expected
to increase by a high
single-digit percentage
Core EPS is expected to
increase by a low
double-digit percentage
- The
Core Tax rate is expected to be between 18-22%
- If
foreign exchange rates for April 2025 to December 2025 were to
remain at the average rates seen in March 2025, it is anticipated
that compared to the performance at CER, FY 2025 Total Revenue
would incur a low single-digit percentage adverse impact (unchanged
from prior guidance), and Core EPS would incur a low single-digit
percentage adverse impact (previously mid
single-digit).
Results
highlights
Table 1. Milestones achieved since the prior results
announcement
Phase III and other registrational data readouts
|
Medicine
|
Trial
|
Indication
|
Event
|
|
Enhertu
|
DESTINY-Gastric04
|
HER2-positive gastric/GEJ cancer (2nd-line)
|
Primary endpoint met
|
|
Enhertu
|
DESTINY-Breast09
|
HER2-positive metastatic breast cancer (1st line)
|
Primary endpoint met for combination arm
|
|
Imfinzi
|
MATTERHORN
|
Resectable gastric/GEJ cancer
|
Primary endpoint met
|
|
camizestrant
|
SERENA-6
|
HR+ HER2- metastatic breast cancer (1st line switch on emergence
of ESR1m)
|
Primary endpoint met
|
|
eneboparatide
|
CALYPSO
|
Chronic hypoparathyroidism
|
Primary endpoint met, trial continues to 52 weeks
|
Regulatory approvals
|
Medicine
|
Trial
|
Indication
|
Region
|
|
Calquence
|
ACE-LY-004
|
Relapsed/refractory MCL
|
EU
|
|
Calquence
|
ChangE
|
CLL/SLL
|
CN
|
|
Datroway
|
TROPION-Breast01
|
HR+ HER2- breast cancer (2nd-line)
|
EU
|
|
Enhertu
|
DESTINY-Breast06
|
HER2-low and -ultralow HR+ breast cancer (2nd-line+)
|
EU
|
|
Imfinzi
|
AEGEAN
|
Resectable early-stage (IIA-IIIB) NSCLC
|
EU, CN
|
|
Imfinzi
|
NIAGARA
|
MIBC
|
US
|
|
Imfinzi ± Imjudo
|
ADRIATIC
|
SCLC (limited-stage)
|
EU, JP
|
|
Truqap
|
CAPItello-291
|
Biomarker-altered HR+ HER2- metastatic breast cancer
|
CN
|
|
Wainzua
|
NEURO-TTRansform
|
ATTRv-PN
|
EU
|
|
Beyonttra (acoramidis)
|
NCT04622046
|
ATTR-CM
|
JP
|
|
Ultomiris
|
CHAMPION-MG
|
gMG
|
CN
|
Regulatory submissions or acceptances* in major
regions
|
Medicine
|
Trial
|
Indication
|
Region
|
|
Enhertu
|
DESTINY-Breast06
|
HER2-low and -ultralow HR+ breast cancer (2nd-line+)
|
CN
|
|
Imfinzi
|
PACIFIC-5
|
Locally advanced NSCLC
|
CN
|
|
Imfinzi + Imjudo
|
HIMALAYA
|
Unresectable HCC
|
CN
|
|
Imfinzi
|
HIMALAYA
|
Unresectable HCC
|
CN
|
|
Imfinzi
|
DUO-E
|
Primary advanced or recurrent endometrial cancer with mismatch
repair deficiency
|
CN
|
|
Fasenra
|
MANDARA
|
EGPA
|
CN
|
|
Tezspire
|
WAYPOINT
|
CRSwNP
|
US, EU, JP, CN
|
|
Koselugo
|
KOMET
|
NF1-PN (adults)
|
US, CN
|
* US, EU and China regulatory submissions denotes filing
acceptance
Other pipeline updates
For recent trial starts and anticipated timings of key trial
readouts, please refer to the Clinical Trials Appendix, available
on www.astrazeneca.com/investor-relations.html.
Table 2: Key elements of financial performance in Q1
2025
|
Item
|
Reported
|
Change
|
Core
|
Change
|
|
||
|
|
$m
|
Act
|
CER
|
$m
|
Act
|
CER
|
|
|
Product Revenue
|
13,514
|
7
|
10
|
13,514
|
7
|
10
|
∗ See Tables 3 and 24 for medicine details of
Product Revenue, Alliance Revenue and Product
Sales
|
|
Collaboration Revenue
|
74
|
64
|
64
|
74
|
64
|
64
|
∗ See Table 4 for details of Collaboration
Revenue
|
|
Total Revenue
|
13,588
|
7
|
10
|
13,588
|
7
|
10
|
∗ See Tables 5 and 6 for Total Revenue by
Therapy Area and by region
|
|
Gross Margin (%)
|
84
|
+1pp
|
-
|
84
|
+1pp
|
-
|
+ Fluctuations
in foreign exchange rates
− Pricing
adjustments, for example to sales reimbursed by the Medicare Part D
programme in the US
∗ See 'Reporting changes' below for the
definition of Gross Margin6
∗ Variations in Gross Margin can be expected
between periods, due to fluctuations in foreign exchange rates,
product seasonality, Colllaboration Revenue, and other
effects
|
|
R&D expense
|
3,159
|
13
|
15
|
3,088
|
14
|
16
|
∗ Core R&D: 23% of Total
Revenue
+ Positive
data read-outs for high value pipeline opportunities that have
ungated late-stage trials
+ Investment
in platforms, new technology and capabilities to enhance R&D
capabilities
|
|
SG&A expense
|
4,492
|
-
|
3
|
3,457
|
1
|
4
|
∗ Core SG&A: 25% of Total
Revenue
|
|
Other operating income and expense7
|
113
|
71
|
71
|
115
|
79
|
78
|
+ Upfront
receipt on a divestment
|
|
Operating Margin (%)
|
27
|
+2pp
|
+2pp
|
35
|
+1pp
|
-
|
|
|
Net finance expense
|
265
|
(12)
|
(11)
|
215
|
(12)
|
(11)
|
+ Debt
issued in 2024 at higher interest rates
− Adjustment
relating to tax settlements (see below)
|
|
Tax rate (%)
|
14
|
-8pp
|
-8pp
|
16
|
-6pp
|
-6pp
|
− Updates
to estimates of prior period tax liabilities following settlements
with tax authorities
|
|
EPS ($)
|
1.88
|
34
|
32
|
2.49
|
21
|
21
|
|
For monetary values the unit of change is percent; for Gross
Margin, Operating Margin and Tax rate the unit of change is
percentage points.
In the expense commentary above, the plus and minus bullets denote
the directional impact of the item being discussed, e.g. a '+'
symbol beside an R&D expense comment indicates that the item
resulted in an increase in the R&D spend relative to the prior
year.
China
In April 2025, there are following developments in relation to the
China investigations:
First, in relation to the illegal drug importation allegations,
AstraZeneca received an Appraisal Opinion from the Shenzhen City
Customs Office regarding suspected unpaid importation taxes
amounting to $1.6 million. To the best of AstraZeneca's knowledge,
the importation taxes referred to in the Appraisal Opinion relate
to Enhertu. A fine of between one and five times the amount
of unpaid importation taxes may also be levied if AstraZeneca is
found liable.
Second, in relation to the personal information infringement
allegation, AstraZeneca received a Notice of Transfer to the
Prosecutor from the Shenzhen Bao'an District Public Security Bureau
(the 'PSB') regarding suspected unlawful collection of personal
information. The Company has been informed that there was no
illegal gain to the Company resulting from personal information
infringement.
AstraZeneca continues to fully cooperate with the Chinese
authorities.
Corporate and business development
Fibrogen
In February 2025, FibroGen announced the sale of FibroGen China to
AstraZeneca.
Under the terms of the agreement, FibroGen will receive an
enterprise value of $85m plus FibroGen net cash held in China at
closing, estimated at the date of signing to be approximately $75m,
totalling approximately $160m. The transaction is expected to close
by mid-2025, pending customary closing conditions, including
regulatory review in China.
Upon closing, AstraZeneca will obtain all rights to roxadustat in
China, including manufacturing in China.
EsoBiotec
In March 2025, AstraZeneca entered into a definitive agreement to
acquire EsoBiotec, a biotechnology company pioneering in vivo cell
therapies that has demonstrated promising early clinical activity.
The EsoBiotec Engineered NanoBody Lentiviral (ENaBL) platform could
offer many more patients access to transformative cell therapy
treatments delivered in minutes rather than the current process
which takes weeks.
AstraZeneca will acquire all outstanding equity of EsoBiotec for a
total consideration of up to $1bn, on a cash and debt-free basis.
This will include an initial payment of $425m on deal closing, and
up to $575m in contingent consideration based on development and
regulatory milestones. The transaction is expected to close in the
second quarter of 2025, subject to customary closing conditions and
regulatory clearances.
Alteogen Inc
In March 2025, AstraZeneca and Alteogen Inc. entered into an
exclusive license agreement for ALT-B4, a novel hyaluronidase
utilising Hybrozyme™ platform technology. Under the terms of
the agreement, AstraZeneca has acquired worldwide rights to use
ALT-B4 to develop and commercialise subcutaneous formulations of
several oncology assets. Alteogen will be responsible for clinical
and commercial supply of ALT-B4 to AstraZeneca. AstraZeneca has
made an upfront payment to Alteogen and may make additional
payments, conditional on achievement of specific development,
regulatory and sales-related milestones. Additionally, Alteogen
will receive royalties on the sales of the commercialised
products.
Beijing R&D centre
In March 2025, AstraZeneca announced it will establish its sixth
global strategic R&D centre, to be located in Beijing, China.
It will be AstraZeneca's second R&D centre in China, following
the opening of the Shanghai R&D centre, and will advance
early-stage research and clinical development, enabled by a
state-of-the-art artificial intelligence and data science
laboratory. The new R&D centre will be located near leading
biotech companies, research hospitals, and the National Medical
Products Administration in the Beijing International Pharmaceutical
Innovation Park (BioPark).
Harbour BioMed
In March 2025, AstraZeneca executed a global strategic
collaboration with Harbour BioMed to discover and develop
next-generation multi-specific antibodies for immunology, oncology
and beyond. The strategic collaboration includes an option to
license multiple programs utilizing Harbour BioMed's proprietary
fully human antibody technology platform in multiple therapeutic
areas, together with an equity investment in Harbour BioMed, which
closed in April 2025. Upfront payments for the collaboration and
equity investment total $175m. AstraZeneca may incur
additional fees and contingent milestones for each program it
elects to license, along with tiered royalties on future net
sales.
BioKangtai
In March 2025, BioKangtai and AstraZeneca entered into a strategic
partnership to establish a joint venture that focus on researching,
developing, and producing innovative vaccines.
The joint venture will serve as AstraZeneca's first and only
vaccine production hub in China, with a registered capital of RMB
345m (approx. $50m) and a total investment of approx. $400m (RMB
2.76bn). BioKangtai and AstraZeneca will each hold 50% equity in
the venture.
Syneron Bio
In March 2025, AstraZeneca executed a strategic collaboration with
Syneron Bio to develop potential first-in-class macrocyclic
peptides for the treatment of chronic diseases. Under this
collaboration, AstraZeneca will gain access to Syneron Bio's
innovative macrocyclic peptide drug research and development
platform to support research programmes exploring possible future
treatments of chronic diseases, including rare, autoimmune, and
metabolic disease. AstraZeneca will pay an upfront payment of $55m,
with option exercise fees and contingent milestones of over $3bn if
all programs are optioned, along with tiered royalties on future
net sales. AstraZeneca will also make an equity investment in
Syneron Bio.
Tempus AI and Pathos AI
In April 2025, AstraZeneca, Tempus AI, Inc. (Tempus) and Pathos AI,
Inc. (Pathos) entered into a series of agreements regarding the
development of a foundational large multimodal model in the field
of oncology. The model will be used to gather biological and
clinical insights, discover novel drug targets, and develop
therapeutics. AstraZeneca will pay Tempus a fee, and a syndicate of
investors, including AstraZeneca, will contemporaneously execute a
stock purchase agreement with Pathos.
Sustainability highlights
In preparation for new reporting regulations, AstraZeneca combined
its 2024 sustainability and annual reporting into one
integrated publication. Details of performance against targets can
be found in the 2024 Sustainability Data
Annex.
AstraZeneca published its first Taskforce on
Nature-related Financial Disclosures report, and its Sustainable
use and sourcing of raw materials report.
Reporting calendar
The Company intends to publish its H1 and Q2 2025
results on 29 July 2025.
Conference call
A conference call and webcast for investors and analysts will begin
today, 29 April 2025, at 11:45 UK time. Details can be
accessed via astrazeneca.com.
Reporting changes
Product Revenue
Effective 1 January 2025, the Group has updated the presentation of
Total Revenue on the face of the Statement of Comprehensive Income
to include a new subtotal 'Product Revenue' representing the
summation of Product Sales and Alliance Revenue.
Product Revenue and Collaboration Revenue form Total
Revenue.
Product Sales and Alliance Revenue will continue to be presented
separately, with the new subtotal providing additional aggregation
of revenue types with similar characteristics, reflecting the
growing importance of Alliance Revenue.
Full descriptions of Product Sales, Alliance Revenue and
Collaboration Revenue are included from page 152 of the
Group's Annual Report and Form
20-F Information 2024. R&D progress and Other sharehold
Gross Margin
Effective 1 January 2025, the Group has replaced the measure of
'Product Sales Gross Margin' with the measure of 'Gross
Margin'. Previously, the measure excluded margin related to
Alliance Revenue and Collaboration Revenue. The new measure is
calculated using Gross profit as a percentage of Total Revenue,
thereby encompassing all revenue categories, and is intended to
provide a more comprehensive measure of total
performance.
Notes
1.
Constant exchange rates. The differences between Actual Change and
CER Change are due to foreign exchange movements between periods in
2025 vs. 2024. CER financial measures are not accounted for
according to generally accepted accounting principles (GAAP)
because they remove the effects of currency movements from Reported
results.
2.
Effective Jan 1 2025, the Group has updated its presentation of
Total Revenue, adding a new subtotal of Product Revenue, the sum of
Product Sales and Alliance revenue. For further details, see Note
1: 'Basis of preparation and accounting policy' in the Notes to the
Interim Financial Statements.
3.
Core financial measures are adjusted to exclude certain items. The
differences between Reported and Core measures are primarily due to
costs relating to the amortisation of intangibles, impairments,
legal settlements and restructuring charges. A full reconciliation
between Reported EPS and Core EPS is provided in Table 9 in the
Financial Performance section of this document.
4.
The eleven manufacturing sites in the US (or territories of the US)
are:
- Bogart, GA
- Coppell, TX
- Frederick, MD
- Mt Vernon, IN
- Newark, DE
- Philadelphia, PA
- Puerto Rico
- Redwood City, CA
- Rockville, MD
- Santa Monica, CA
- Tarzana, CA
*
Opens in May 2025
5.
The Company is unable to provide guidance on a Reported basis
because it cannot reliably forecast material elements of the
Reported results, including any fair value adjustments arising on
acquisition-related liabilities, intangible asset impairment
charges and legal settlement provisions. Please refer to the
cautionary statements section regarding forward-looking statements
at the end of this announcement.
6.
Effective Jan 1 2025, the Group has updated its presentation of
Gross Margin. For further details, see Note 1: 'Basis of
preparation and accounting policy' in the Notes to the Interim
Financial Statements
7.
Income from disposals of assets and businesses, where the Group
does not retain a significant ongoing economic interest, is
recorded in Other operating income and expense in the Group's
financial statements.
Revenue
drivers
Table 3:
Product Revenue by medicine
|
|
Q1 2025
|
|
% Change
|
|
|
|
||
|
|
$m
|
% Total
|
Actual
|
CER
|
|
|
|
|
|
- Tagrisso
|
1,679
|
12
|
5
|
8
|
|
|
|
|
|
- Imfinzi
|
1,261
|
9
|
13
|
16
|
|
|
|
|
|
- Calquence
|
762
|
6
|
6
|
8
|
|
|
|
|
|
- Lynparza
|
726
|
5
|
3
|
5
|
|
|
|
|
|
- Enhertu
|
596
|
4
|
29
|
34
|
|
|
|
|
|
- Zoladex
|
293
|
2
|
3
|
8
|
|
|
|
|
|
- Truqap
|
132
|
1
|
>2x
|
>2x
|
|
|
|
|
|
- Imjudo
|
80
|
1
|
30
|
33
|
|
|
|
|
|
- Datroway
|
4
|
-
|
n/m
|
n/m
|
|
|
|
|
|
- Other
Oncology
|
110
|
1
|
(8)
|
(4)
|
|
|
|
|
|
Oncology
|
5,643
|
42
|
10
|
13
|
|
|
|
|
|
- Farxiga
|
2,058
|
15
|
11
|
16
|
|
|
|
|
|
- Crestor
|
317
|
2
|
7
|
10
|
|
|
|
|
|
- Brilinta
|
305
|
2
|
(6)
|
(4)
|
|
|
|
|
|
- Seloken
|
161
|
1
|
(2)
|
3
|
|
|
|
|
|
- Lokelma
|
153
|
1
|
35
|
38
|
|
|
|
|
|
- roxadustat
|
79
|
1
|
2
|
4
|
|
|
|
|
|
- Wainua
|
39
|
-
|
>8x
|
>8x
|
|
|
|
|
|
- Other
CVRM
|
136
|
1
|
(28)
|
(25)
|
|
|
|
|
|
CVRM
|
3,248
|
24
|
8
|
12
|
|
|
|
|
|
- Symbicort
|
723
|
5
|
(6)
|
(3)
|
|
|
|
|
|
- Fasenra
|
418
|
3
|
17
|
19
|
|
|
|
|
|
- Breztri
|
300
|
2
|
37
|
39
|
|
|
|
|
|
- Tezspire
|
217
|
2
|
81
|
85
|
|
|
|
|
|
- Pulmicort
|
158
|
1
|
(30)
|
(26)
|
|
|
|
|
|
- Saphnelo
|
136
|
1
|
49
|
51
|
|
|
|
|
|
- Airsupra
|
28
|
-
|
>4x
|
>4x
|
|
|
|
|
|
- Other
R&I
|
104
|
1
|
6
|
8
|
|
|
|
|
|
R&I
|
2,084
|
15
|
11
|
13
|
|
|
|
|
|
- Beyfortus
|
112
|
1
|
>2x
|
>2x
|
|
|
|
|
|
- Synagis
|
112
|
1
|
(34)
|
(32)
|
|
|
|
|
|
- FluMist
|
-
|
-
|
(96)
|
(96)
|
|
|
|
|
|
- Other
V&I
|
1
|
-
|
(93)
|
(93)
|
|
|
|
|
|
V&I
|
225
|
2
|
(3)
|
(1)
|
|
|
|
|
|
- Ultomiris
|
1,050
|
8
|
22
|
25
|
|
|
|
|
|
- Soliris
|
444
|
3
|
(40)
|
(38)
|
|
|
|
|
|
- Strensiq
|
352
|
3
|
12
|
14
|
|
|
|
|
|
- Koselugo
|
138
|
1
|
4
|
8
|
|
|
|
|
|
- Other Rare
Disease
|
58
|
-
|
9
|
15
|
|
|
|
|
|
Rare Disease
|
2,042
|
15
|
(3)
|
-
|
|
|
|
|
|
- Nexium
|
233
|
2
|
(4)
|
-
|
|
|
|
|
|
- Others
|
39
|
-
|
(28)
|
(26)
|
|
|
|
|
|
Other Medicines
|
272
|
2
|
(8)
|
(5)
|
|
|
|
|
|
Total Medicines
|
13,514
|
100
|
7
|
10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Alliance Revenue included above:
|
|
|
|
|
|
|
|
|
|
- Enhertu
|
398
|
3
|
17
|
21
|
|
|
|
|
|
- Tezspire
|
130
|
1
|
70
|
70
|
|
|
|
|
|
- Beyfortus
|
82
|
1
|
>4x
|
>4x
|
|
|
|
|
|
- Datroway
|
4
|
-
|
n/m
|
n/m
|
|
|
|
|
|
- Other Alliance
Revenue
|
25
|
-
|
18
|
18
|
|
|
|
|
|
|
639
|
5
|
40
|
42
|
|
|
|
|
Table 4: Collaboration Revenue
|
|
Q1 2025
|
|
%
Change
|
|
|
|
||
|
|
$m
|
|
Actual
|
CER
|
|
|
|
|
|
Farxiga: sales
milestones
|
74
|
|
64
|
64
|
|
|
|
|
|
Total
|
74
|
|
64
|
64
|
|
|
|
|
Table 5: Total Revenue by Therapy Area
|
|
Q1 2025
|
|
%
Change
|
|
|
|
||
|
|
$m
|
% Total
|
Actual
|
CER
|
|
|
|
|
|
Oncology
|
5,643
|
42
|
10
|
13
|
|
|
|
|
|
- CVRM
|
3,322
|
24
|
9
|
13
|
|
|
|
|
|
- R&I
|
2,084
|
15
|
11
|
13
|
|
|
|
|
|
- V&I
|
225
|
2
|
(3)
|
(1)
|
|
|
|
|
|
Biopharmaceuticals
|
5,631
|
41
|
9
|
12
|
|
|
|
|
|
Rare Disease
|
2,042
|
15
|
(3)
|
-
|
|
|
|
|
|
Other Medicines
|
272
|
2
|
(8)
|
(5)
|
|
|
|
|
|
Total
|
13,588
|
100
|
7
|
10
|
|
|
|
|
Table 6: Total Revenue by region
|
|
Q1 2025
|
|
%
Change
|
|
|
|
||
|
|
$m
|
% Total
|
Actual
|
CER
|
|
|
|
|
|
US
|
5,646
|
42
|
10
|
10
|
|
|
|
|
|
- Emerging Markets ex. China
|
2,138
|
16
|
8
|
17
|
|
|
|
|
|
- China
|
1,805
|
13
|
3
|
5
|
|
|
|
|
|
Emerging Markets
|
3,943
|
29
|
6
|
12
|
|
|
|
|
|
Europe
|
2,759
|
20
|
5
|
9
|
|
|
|
|
|
Established ROW
|
1,239
|
9
|
4
|
9
|
|
|
|
|
|
Total
|
13,588
|
100
|
7
|
10
|
|
|
|
|
Total Revenue by Medicine
Oncology
Oncology Total revenue grew 10% (13% at CER) in the quarter,
supported by strong demand and new indication expansion. US sales
for oral oncology medicines were affected by the implementation of
new manufacturer discounts under Medicare Part D redesign which
came into effect January 2025. This was partly offset by patient
transitions from free goods programmes to paid supply due to
improved patient affordability. This has led to an increase in the
proportion of US sales in Q1 2025 coming from Medicare Part D
versus the prior period.
Tagrisso
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Strong demand growth across all indications
and key regions with encouraging uptake in Stage III unresectable
(LAURA) in EGFRm NSCLC
|
||
|
US
|
678
|
9
|
9
|
|
∗ Underlying demand growth offset by Medicare
Part D redesign
|
|
|
Emerging Markets
|
519
|
7
|
12
|
|
∗ Continued demand growth across key
markets
|
|
|
Europe
|
307
|
2
|
6
|
|
∗ Demand growth impacted by government
clawbacks
|
|
|
Established RoW
|
175
|
(4)
|
1
|
|
∗ Seasonal variablility in Japan ahead of
fiscal year-end
|
|
|
Total
|
1,679
|
5
|
8
|
|
|
|
|
|
|
|
|
|
|
|
Imfinzi
|
Q1 2025
$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Strong demand driven by HCC (HIMALAYA), BTC
(TOPAZ-1), increased share and new launch growth in lung cancer
(POSEIDON, CASPIAN, AEGEAN, ADRIATIC)
|
||
|
US
|
728
|
25
|
25
|
|
∗ Further uptake of early NSCLC (AEGEAN) and
limited-stage SCLC (ADRIATIC)
|
|
|
Emerging Markets
|
142
|
10
|
20
|
|
∗ Increased demand in GI, despite local
competition in China
|
|
|
Europe
|
252
|
8
|
13
|
|
∗ Growth from GI indications and early
momentum from lung cancer launches
|
|
|
Established RoW
|
139
|
(18)
|
(14)
|
|
∗ Mandatory price reductions in Japan in Feb
2024 (25%), and Aug 2024 (11%)
|
|
|
Total
|
1,261
|
13
|
16
|
|
|
|
|
|
|
|
|
|
|
|
Calquence
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Sustained BTKi leadership in front-line CLL
(ELEVATE-TN)
|
||
|
US
|
507
|
3
|
3
|
|
∗ Market leader despite competition,
accelerating 1L MCL (ECHO) launch momentum offset by Part D
redesign
|
|
|
Emerging Markets
|
54
|
37
|
54
|
|
|
|
|
Europe
|
170
|
11
|
15
|
|
∗ Strong growth in front-line CLL, despite
competitive environment
|
|
|
Established RoW
|
31
|
(3)
|
2
|
|
|
|
|
Total
|
762
|
6
|
8
|
|
|
|
|
|
|
|
|
|
|
|
Lynparza
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Sustained global PARP inhibitor market
leadership across four tumour types (ovarian, breast, prostate,
pancreatic)
|
||
|
US
|
312
|
8
|
8
|
|
∗ Continued leadership within competitive
PARPi class impacted by Part D redesign
|
|
|
Emerging Markets
|
161
|
(4)
|
-
|
|
|
|
|
Europe
|
196
|
3
|
6
|
|
∗ Launches in breast and prostate cancers
(OlympiA and PROpel)
|
|
|
Established RoW
|
57
|
(3)
|
2
|
|
|
|
|
Total
|
726
|
3
|
5
|
|
|
|
|
|
|
|
|
|
|
|
Enhertu
Combined sales of Enhertu, recorded by Daiichi Sankyo and AstraZeneca,
amounted to $1,086m in Q1 2025 (Q1 2024: $879m). US in-market
sales, recorded by Daiichi Sankyo, amounted to $540m in Q1 2025 (Q1
2024: $423m). AstraZeneca's European revenue includes a mid
single-digit percentage royalty on Daiichi Sankyo's sales in Japan,
recorded as Alliance Revenue.
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Standard of care in HER2-positive
(DESTINY-Breast03) and HER2-low (DESTINY-Breast04) metastatic
breast cancer, early uptake in other cancers
∗
|
||
|
US
|
258
|
28
|
28
|
|
∗ Encouraging launch uptake in chemotherapy
naïve HER2-low and -ultralow breast cancer
(DESTINY-Breast06)
|
|
|
Emerging Markets
|
172
|
54
|
66
|
|
∗ Rapid adoption post-NRDL enlistment of
HER2-positive and HER2-low breast cancer from January
1
|
|
|
Europe
|
146
|
9
|
13
|
|
|
|
|
Established RoW
|
19
|
51
|
61
|
|
|
|
|
Total
|
596
|
29
|
34
|
|
|
|
|
|
|
|
|
|
|
|
Other Oncology medicines
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
|
||
|
Zoladex
|
293
|
3
|
8
|
|
∗ Strong growth in China
|
|
|
Truqap
|
132
|
>2x
|
>2x
|
|
∗ Demand growth in second-line
biomarker-altered, impact from Part D redesign and destocking in
the US following inventory build of new blister pack in Q4
2024
|
|
|
Imjudo
|
80
|
30
|
33
|
|
∗ Continued growth across
markets
|
|
|
Datroway
|
4
|
n/m
|
n/m
|
|
∗ Encouraging early launch signals in
US
|
|
|
Other Oncology
|
110
|
(8)
|
(4)
|
|
∗ Faslodex VBP implementation in March 2024 and generic
erosion in Europe
|
|
|
|
|
|
|
|
|
|
BioPharmaceuticals - CVRM
Farxiga
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Growth driven by HF and CKD indications,
SGLT2 class growth supported by cardiorenal
guidelines
|
||
|
US
|
383
|
(19)
|
(19)
|
|
∗ Authorised generic stocking in Q1
2024
|
|
|
Emerging Markets
|
871
|
22
|
31
|
|
∗ Continued strong growth despite entry of
generic competitors in some markets
|
|
|
Europe
|
683
|
24
|
28
|
|
∗ Continued strong class growth and market
share gains
|
|
|
Established RoW
|
195
|
28
|
31
|
|
∗ Sales milestone of $74m from partner in
Japan
|
|
|
Total
|
2,132
|
13
|
17
|
|
|
|
|
|
|
|
|
|
|
|
6ii
Other CVRM medicines
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
|
||
|
Crestor
|
317
|
7
|
10
|
|
∗ Continued sales growth driven by Emerging
Markets
|
|
|
Brilinta
|
305
|
(6)
|
(4)
|
|
∗ Decline driven by generic competition in
some Emerging Markets
|
|
|
Seloken
|
161
|
(2)
|
3
|
|
∗ Growth driven by Emerging
Markets
|
|
|
Lokelma
|
153
|
35
|
38
|
|
∗ Strong growth in all major
regions
|
|
|
roxadustat
|
79
|
2
|
4
|
|
∗ Slower growth due to increased generic
competition
|
|
|
Wainua
|
39
|
>8x
|
>8x
|
|
∗ Continued strong launch momentum partly
offset by Part D redesign
|
|
|
Other CVRM
|
136
|
(28)
|
(25)
|
|
|
|
|
|
|
|
|
|
|
|
BioPharmaceuticals - R&I
Symbicort
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Global market leader in a stable ICS/LABA
class, treating COPD and asthma
|
||
|
US
|
279
|
(7)
|
(7)
|
|
∗ Strong demand for authorised generic offset
by channel mix
|
|
|
Emerging Markets
|
232
|
(8)
|
(4)
|
|
∗ Growth in EM Ex-China; China growth affected
by ICS/LABA class erosion in COPD in favour of triple
therapy
|
|
|
Europe
|
135
|
(5)
|
(2)
|
|
∗ Continued generic
erosion
|
|
|
Established RoW
|
77
|
3
|
10
|
|
|
|
|
Total
|
723
|
(6)
|
(3)
|
|
|
|
|
|
|
|
|
|
|
|
Fasenra
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Expanded severe eosinophilic asthma market
share leadership in IL-5 class, further fuelled by first wave
market launches for EGPA indication
|
||
|
US
|
249
|
19
|
19
|
|
∗ Sustained double-digit volume growth with
expanded class leadership
|
|
|
Emerging Markets
|
27
|
20
|
29
|
|
∗ Launch momentum across key
markets
|
|
|
Europe
|
103
|
11
|
16
|
|
∗ Sustained leadership in severe eosinophilic
asthma
|
|
|
Established RoW
|
39
|
17
|
23
|
|
∗ Strong growth supported by recent EGPA
launch in Japan
|
|
|
Total
|
418
|
17
|
19
|
|
|
|
|
|
|
|
|
|
|
|
Breztri
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Fastest growing medicine within the
expanding FDC triple class (ICS/LABA/LAMA), treating
COPD
|
||
|
US
|
148
|
41
|
41
|
|
∗ Consistent share growth within expanding FDC
triple class
|
|
|
Emerging Markets
|
90
|
29
|
32
|
|
∗ Market share leadership in China with strong
FDC triple class penetration
|
|
|
Europe
|
42
|
38
|
43
|
|
∗ Sustained growth from market share gain and
new launches
|
|
|
Established RoW
|
20
|
39
|
47
|
|
∗ Increasing market share in
Japan
|
|
|
Total
|
300
|
37
|
39
|
|
|
|
|
|
|
|
|
|
|
|
Tezspire
Combined sales of Tezspire, recorded by Amgen and AstraZeneca, amounted to
$371m in Q1 2025 (Q1 2024: $216m).
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Sustained demand growth in severe asthma
with launch momentum across multiple markets
|
||
|
US
|
130
|
70
|
70
|
|
∗ Continued strong demand growth with majority
of patients new to biologics
|
|
|
Emerging Markets
|
7
|
>3x
|
>3x
|
|
∗ Strong continued launch
uptake
|
|
|
Europe
|
57
|
>2x
|
>2x
|
|
∗ Maintained new-to-brand leadership across
multiple markets and new launches
|
|
|
Established RoW
|
23
|
62
|
73
|
|
∗ Strong growth driven by
Japan
|
|
|
Total
|
217
|
81
|
85
|
|
|
|
|
|
|
|
|
|
|
|
Other R&I medicines
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
|
||
|
Pulmicort
|
158
|
(30)
|
(26)
|
|
∗ EM >80% of revenue. Continued weak China
flu season and generic restock
|
|
|
Saphnelo
|
136
|
49
|
51
|
|
∗ Strong US demand growth, ongoing launches in
Europe and Established RoW
|
|
|
Airsupra
|
28
|
>4x
|
>4x
|
|
∗ Strong US launch momentum and volume
uptake
|
|
|
Other R&I
|
104
|
6
|
8
|
|
∗ Favourable phasing of third party supply in
the quarter
|
|
|
|
|
|
|
|
|
|
Biopharmaceuticals - V&I
Beyfortus Total Revenue
reflects the sum of Product Sales from AstraZeneca's sales of
manufactured Beyfortus product to Sanofi and Alliance Revenue from
AstraZeneca's share of gross profits on sales
of Beyfortus in major markets outside the
US.
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
|
||
|
Beyfortus
|
112
|
>2x
|
>2x
|
|
∗ Increased capacity and strong
demand
|
|
|
Synagis
|
112
|
(34)
|
(32)
|
|
∗ Competition from Beyfortus
|
|
|
FluMist
|
-
|
n/m
|
n/m
|
|
∗ Normal seasonality
|
|
|
Other V&I
|
1
|
n/m
|
n/m
|
|
|
|
|
|
|
|
|
|
|
|
Rare Disease
Ultomiris
Ultomiris Total Revenue
includes sales of Voydeya, which is approved as an add on treatment
to Ultomiris and Soliris for the ~20-30% of PNH patients who
experience clinically significant EVH.
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Growth due to patient demand and conversion
from Soliris in all indications(gMG , NMOSD, aHUS and
PNH)
|
||
|
US
|
604
|
25
|
25
|
|
∗ Demand growth, offset by gMG and PNH
competition and a smaller impact from Medicare Part D reform in
neurology indications
|
|
|
Emerging Markets
|
52
|
65
|
77
|
|
∗ Expansion into new markets and growth in
patient demand
|
|
|
Europe
|
228
|
13
|
17
|
|
∗ Strong demand growth following recent
launches; competition in gMG
|
|
|
Established RoW
|
166
|
16
|
22
|
|
∗ Continued conversion and strong demand
following new launches
|
|
|
Total
|
1,050
|
22
|
25
|
|
|
|
|
|
|
|
|
|
|
|
Soliris
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Decline driven by conversion of patients
to Ultomiris in all indications (gMG, NMOSD, aHUS, PNH)
and regions, competition, and biosimilar pressure in
Europe
|
||
|
US
|
288
|
(30)
|
(30)
|
|
∗ Competition in gMG and
PNH
|
|
|
Emerging Markets
|
65
|
(48)
|
(42)
|
|
∗ Unfavourable order timing in tender
markets
|
|
|
Europe
|
56
|
(60)
|
(59)
|
|
∗ Biosimilar competition in PNH and
aHUS
|
|
|
Established RoW
|
35
|
(43)
|
(39)
|
|
|
|
|
Total
|
444
|
(40)
|
(38)
|
|
|
|
|
|
|
|
|
|
|
|
Strensiq
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Growth driven by continued HPP patient
demand and geographic expansion
|
||
|
US
|
266
|
8
|
8
|
|
∗ Demand growth partially offset by Medicare
Part D redesign
|
|
|
Emerging Markets
|
34
|
59
|
71
|
|
|
|
|
Europe
|
26
|
9
|
13
|
|
|
|
|
Established RoW
|
26
|
21
|
26
|
|
|
|
|
Total
|
352
|
12
|
14
|
|
|
|
|
|
|
|
|
|
|
|
Other Rare Disease medicines
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
∗ Growth driven by continued patient demand
and geographic expansion
|
||
|
Koselugo
|
138
|
4
|
8
|
|
∗ Demand growth, unfavourable order timing in
Emerging Markets
|
|
|
Other Rare Disease
|
58
|
9
|
15
|
|
|
|
|
|
|
|
|
|
|
|
Other Medicines
|
Q1 2025$m
|
Total
Revenue
|
% Change
Actual CER
|
|
|
||
|
Nexium
|
233
|
(4)
|
-
|
|
∗ Growth in Emerging Markets, generic erosion
elsewhere
|
|
|
Others
|
39
|
(28)
|
(26)
|
|
∗ Generic erosion
|
|
|
|
|
|
|
|
|
|
R&D
progress
This section covers R&D events and milestones that have
occurred since the prior results announcement on 6 February 2025,
up to and including events on 28 April 2025. A comprehensive view
of AstraZeneca's pipeline of medicines in human trials can be found
in the latest Clinical Trials Appendix, available on
www.astrazeneca.com/investor-relations. The Clinical Trials
Appendix includes tables with details of the ongoing clinical
trials for AstraZeneca medicines and new molecular entities in the
pipeline.
Oncology
AstraZeneca presented new data across its diverse portfolio of
cancer medicines at two major medical congresses since the prior
results announcement: the European Lung Cancer Congress 2025 and
the American Association for Cancer Research Annual Meeting 2025.
Across the two meetings, more than 100 abstracts were presented
featuring 10 approved and potential new medicines including 14 oral
presentations.
Calquence
|
CHMP opinion
Europe
|
ACE-LY-004
February 2025
New disclosure
|
∗ As monotherapy for relapsed or refractory
mantle cell lymphoma.
|
|
Approval
China
|
ChangE
March 2025
New disclosure
|
∗ As monotherapy for the treatment of chronic
lymphocytic leukaemia/small lymphocytic
lymphoma.
|
|
CHMP opinion
Europe
|
AMPLIFY
April 2025
New disclosure
|
∗ In combination with venetoclax with or
without obinutuzumab is indicated for the treatment of adult
patients with previously untreated chronic lymphocytic
leukaemia.
|
Enhertu
|
Phase III readout
|
DESTINY-Gastric04
March 2025
New disclosure
|
∗ Positive high-level results demonstrated
that Enhertu resulted in a statistically significant and
clinically meaningful improvement in the primary endpoint of OS
compared to ramucirumab and paclitaxel in patients with 2nd-line
HER2 positive (IHC 3+ or IHC 2+/ISH+) unresectable and/or
metastatic gastric or gastroesophageal junction
adenocarcinoma.
|
|
Approval
Europe
|
DESTINY-Breast06
April 2025
|
∗ As monotherapy for unresectable or
metastatic HR-positive, HER2-low or HER2-ultralow breast cancer in
patients who have received at least one endocrine therapy in the
metastatic setting and who are not considered suitable for
endocrine therapy as the next line of
treatment.
|
|
Phase III readout
|
DESTINY-Breast09
April 2025
|
∗ Positive high-level results from a planned
interim analysis of the DESTINY-Breast09 Phase III trial
showed Enhertu in combination with pertuzumab demonstrated
a highly statistically significant and clinically meaningful
improvement in PFS compared to taxane, trastuzumab and pertuzumab
as a 1st-line treatment for patients with HER2-positive metastatic
breast cancer. The second arm, which
compares Enhertu monotherapy versus THP, remains blinded to
patients and investigators and will continue to the final PFS
analysis.
|
Imfinzi
|
Phase III readout
|
MATTERHORN
March 2025
|
∗ Perioperative Imfinzi in combination with standard-of-care FLOT
chemotherapy demonstrated a statistically significant and
clinically meaningful improvement in the primary endpoint of
event-free survival EFS. A strong trend was observed in favour of
the Imfinzi-based regimen at this interim analysis. The trial
will continue to follow OS, which will be formally assessed at the
final analysis.
|
|
Approval
China
|
AEGEAN
March 2025
New disclosure
|
∗ Imfinzi in combination with platinum-containing
chemotherapy as neoadjuvant treatment, followed
by Imfinzi continued as a single agent as adjuvant
treatment after surgery for the treatment of resectable (tumours
≥4 cm and/or node positive) NSCLC and no
known EGFR mutations or ALK
rearrangements.
|
|
Approval
Europe
|
ADRIATIC
March 2025
|
∗ As monotherapy for the treatment of adults
with limited-stage SCLC whose disease has not progressed following
platinum-based chemoradiation therapy.
|
|
Approval
US
|
NIAGARA
March 2025
|
∗ Imfinzi in combination with gemcitabine and
cisplatin as neoadjuvant treatment, followed
by Imfinzi as
adjuvant monotherapy after radical cystectomy for muscle-invasive
bladder cancer.
|
|
Approval
Europe
|
AEGEAN
April 2025
|
∗ Imfinzi in combination with chemotherapy for the
treatment of resectable NSCLC at high risk of recurrence and no
EGFR mutations or ALK rearrangements. In this regimen, patients are
treated with Imfinzi in combination with neoadjuvant chemotherapy
before surgery and as adjuvant monotherapy after
surgery.
|
Truqap
|
Approval
China
|
CAPItello-291
April 2025
New disclosure
|
∗ In combination with fulvestrant for the
treatment of HR-positive, HER2-negative, locally advanced or
metastatic breast cancer with one or more PIK3CA/AKT1/PTEN-alteration
following progression on at least one endocrine-based regimen in
the metastatic setting or recurrence on or within 12 months of
completing adjuvant therapy.
|
|
Phase III trial update
|
CAPItello-280
April 2025
New disclosure
|
∗ AstraZeneca is discontinuing the
CAPItello-280 Phase III trial evaluating the efficacy and safety
of Truqap in combination with docetaxel and
androgen-deprivation therapy compared to docetaxel and ADT with
placebo in patients with metastatic castration-resistant prostate
cancer. This decision is based on the recommendation of the
Independent Data Monitoring Committee following their review of
data from a pre-specified interim analysis, which concluded that
the Truqap combination was unlikely to meet the dual
primary endpoints of radiographic PFS and OS versus the comparator
arm upon trial completion. The safety profile
for Truqap was consistent with previous trials. The
Company will work with investigators to ensure the necessary follow
up with patients. Data from the trial will inform ongoing
research.
|
camizestrant
|
Phase III readout
|
SERENA-6
February 2025
|
∗ Positive high-level results from a planned
interim analysis of the SERENA-6 Phase III trial showed that
camizestrant in combination with a CDK4/6 inhibitor demonstrated a
highly statistically significant and clinically meaningful
improvement in the primary endpoint of PFS. The trial evaluated
switching to the camizestrant combination versus continuing
standard-of-care treatment with akin aromatase inhibitor in
combination with a CDK4/6 inhibitor in the 1st-line treatment of
patients with HR-positive, HER2-negative advanced breast cancer
whose tumours have an emergent ESR1 mutation.
|
BioPharmaceuticals - CVRM
AZD0780
|
Phase II presentation
ACC
|
PURSUIT
March 2025
|
∗ At 12 weeks, AZD0780 30mg taken once-daily
(when added to the standard-of-care statin therapy and administered
without any fasting or food restrictions) led to a 50.7% reduction
in LDL-C. Similar efficacy was observed regardless of whether trial
participants received moderate- or high-intensity statin doses at
baseline.
|
Wainzua
|
Approval
EU
|
NEURO-TTRansform
March 2025
|
∗ For the treatment of hereditary
transthyretin-mediated amyloidosis in adult patients with stage 1
or stage 2 polyneuropathy, commonly referred to as hATTR-PN or
ATTRv-PN.
|
BioPharmaceuticals - R&I
Tezspire
|
Phase III presentation
AAAAI
|
WAYPOINT
March 2025
|
∗ Treatment with Tezspire significantly reduced nasal polyp severity
measured by the co-primary endpoints; Nasal Polyp Score by -2.065
(95% CI: -2.389, -1.742; p<0.0001) and nasal congestion
(measured by participant-reported Nasal Congestion Score)by -1.028
(95% CI: -1.201, -0.855; p<0.0001) at week 52 compared to
placebo. Tezspire significantly
reduced the need for subsequent nasal polyp surgery by 98%
(p<0.0001) and the need for systemic corticosteroid treatment by
88% (p<0.0001) compared to placebo.
|
Rare Disease
Ultomiris
|
Phase III readout
|
ALXN1210-TMA-314
April 2025
New disclosure
|
∗ High-level results from the ALXN1210-TM-314
Phase III, single-arm, open label trial
evaluating Ultomiris in paediatric patients with severe HSCT-TMA
demonstrated clinically meaningful improvements in the individual
components of TMA response (platelets, LDH and urinary
protein/creatinine ratio) at 26 weeks. Additionally, results showed
a clinically meaningful improvement in the secondary endpoint of
overall survival at six months. Further analyses anticipated in H2
2025 to assess the statistical significance of the single-arm
trial, and separately, the high-level results from the randomised,
double-blind, placebo-controlled, Phase III trial in adults and
adolescents. Safety profile was consistent with that observed in
other approved indications.
|
|
Approval
CN
|
CHAMPION-MG
April 2025
New disclosure
|
∗ For adult patients with anti-acetylcholine
receptor antibody-positive gMG
|
Koselugo
|
Priority Review
US
|
SPRINKLE
February 2025
New disclosure
|
∗ For paediatric patients aged between one and
seven years with NF1 who have symptomatic, inoperable
PN.
|
Soliris
|
Approval
US
|
NCT03759366
March 2025
New disclosure
|
∗ For paediatric patients six years of age and
older with anti-acetylcholine receptor antibody-positive
gMG.
|
Beyonttra (acoramidis)
|
Approval
JP
|
NCT04622046
March 2025
New disclosure
|
∗ For adults with ATTR-CM.
|
eneboparatide
|
Phase III readout
|
CALYPSO
March 2025
|
∗ eneboparatide (AZP-3601), an investigational
parathyroid hormone receptor 1 agonist, met its primary composite
endpoint in adults with chronic hypoparathyroidism at 24 weeks.
eneboparatide demonstrated a statistically significant benefit by
normalising albumin-adjuskted serum calcium levels and achieving
independence from active vitamin D and oral calcium therapy
compared to placebo. The trial will continue to 52 weeks to fully
characterise the risk-benefit profile.
|
Sustainability
In preparation for new new reporting regulations, AstraZeneca
combined its 2024 sustainability and annual reporting into one
integrated publication. The 2024 Annual Report detailed progress
across the Company's sustainability priorities and key topics,
including those identified in its double materiality assessment.
Details of performance against targets can be found in
the 2024 Sustainability Data Annex.
In 2024, the Company achieved a 77.5% reduction in its Scope 1 and
2 greenhouse gas emissions (sites and fleet), a 23% reduction in
its water use and a 13% reduction in waste vs. the 2015 baseline.
63% of its fleet now comprises battery electric vehicles. As at
year end, we had also reached more than 90 million people through
our flagship access programmes and trained a cumulative total of
over 156,000 people since 2015.
Access to Healthcare
On health equity:
- AstraZeneca
engaged on health equity at the World Economic Forum (WEF) Annual
Meeting, including at a roundtable chaired by AstraZeneca Chair
Michel Demaré which convened leaders from governments, NGOs
and the private sector to discuss embedding health equity in
healthcare design and delivery.
- AstraZeneca
held an in-person Global Health Equity Advisory Board meeting,
convening 14 experts from 11 countries across all income groups to
provide insights and input on the Company's health equity
strategy.
- The
Company collaborated with 10 markets (Brazil, Canada, China, Japan,
Italy, Kenya, UAE, Egypt, US and Vietnam) to localise its health
equity priorities on science, healthcare delivery and community
engagement.
- AstraZeneca
marked the 10-year anniversary of its flagship health equity
programme Healthy Heart Africa (HHA) at the
4th Global NCD Alliance
Forum in Kigali,
Rwanda.
- The
Young Health Programme (YHP), the Company's partnership which
empowers young people to call for the prevention of climate-related
health challenges, was recognised in a UNICEF
publication and was
featured in The Times.
On health systems resilience:
- The
Partnership for Health System Sustainability & Resilience
(PHSSR) was featured during the 'Health beyond
Healthcare' panel
discussion at the WEF Annual Meeting, with Michel Demaré
speaking on the need for policy action to improve prevention and
early detection of non-communicable diseases
(NCDs).
- PHSSR
has launched a new collaboration with IQVIA to conduct research
with academic centers across eight countries. This initiative aims
to identify policies needed to enhance healthcare systems for more
effective prevention, early detection, and treatment of chronic
diseases.
Environmental protection
- In
the UK, AstraZeneca and Future Biogas announced the launch of UK's
first unsubsidised biomethane plant dedicated to fuelling the life
sciences sector. Located in Lincolnshire, the plant will provide
clean heat for AstraZeneca UK sites.
- AstraZeneca
published its first Taskforce on
Nature-related Financial Disclosures report (TNFD) following its 2024 commitment
to become an early adopter of the TNFD,
its Sustainable use and
sourcing of raw materials report.
- The
Company contributed to the World Business Council for Sustainable
Development (WBCSD)'s recently published Roadmap to Nature
Positive: Foundations for the pharmaceutical sector, which aims to
support the industry's efforts to understand nature-related impacts
and dependencies and identify key actions for nature-positive
outcomes.
- The
Sustainable Markets Initiative (SMI) Health Systems Task Force
announced an expansion of the China renewable power purchase
agreement (PPA) launched in 2024 to collectively procure renewable
power. AstraZeneca, Takeda and GSK expanded the initiative to
enable suppliers in China to unlock access to renewables and
decarbonise the value chain.
- Through
the SMI, CEO Pascal Soriot signed an open letter calling on the
clinical research community to help tackle the climate crisis by
measuring carbon emissions for all Phase II and III clinical
trials.
- CEO
Pascal Soriot engaged with HM King Charles III,
other private sector CEOs and global leaders at Hampton Court
Palace on the economic case for the transition to a sustainable
future and gave a keynote address on transitioning
to sustainable health systems.
- The
Company achieved top 50 ranking in the FT Europe's Climate Leader
listing of 600 companies and is the top pharma company ranking for
the fourth consecutive year, with an overall score of
77.7/100.
Ethics and transparency
- For
the ninth year, AstraZeneca was included on the CDP Corporate A
List for Climate, a gold standard in corporate environmental
transparency, and achieved an A- for Water, in recognition of the
Company's ongoing work to tackle the climate crisis and protect the
environment.
- The
Company achieved fifth place overall, and second in the Health Care
sector, in the FTSE Women Leaders Review 2024, as one of the top
performers in both the FTSE 100 and FTSE 350 for representation of
women across the organisation.
Operating
and financial review
Reporting currency
All narrative on growth and results in this section is based on
actual exchange rates, and financial figures are in US$ millions
($m), unless stated otherwise.
Reporting period
The performance shown in this announcement covers the three-month
period to 31 March 2025 ('the quarter' or 'Q1 2025') compared to
the three-month period to 31 March 2024 ('Q1 2024'), unless stated
otherwise.
Core financial measures
Core financial measures, EBITDA, Net debt, Gross Margin, Operating
Margin and CER are non-GAAP financial measures because they cannot
be derived directly from the Group's Condensed consolidated
financial statements.
Management believes that these non-GAAP financial measures, when
provided in combination with Reported results, provide investors
and analysts with helpful supplementary information to understand
better the financial performance and position of the Group on a
comparable basis from period to period.
These non-GAAP financial measures are not a substitute for, or
superior to, financial measures prepared in accordance with
GAAP.
Core financial measures (cont.)
Core financial measures are adjusted to exclude certain significant
items:
- Charges
and provisions related to our global restructuring programmes,
which includes charges that relate to the impact of restructuring
programmes on our capitalised manufacturing assets and IT
assets
- Amortisation
and impairment of intangible assets, including impairment reversals
but excluding any charges relating to IT assets
- Other
specified items, principally comprising acquisition-related costs
and credits, which include the imputed finance charges and fair
value movements relating to contingent consideration on business
combinations, imputed finance charges and remeasurement adjustments
on certain Other payables arising from intangible asset
acquisitions, remeasurement adjustments relating to certain Other
payables and debt items assumed from the Alexion acquisition and
legal settlements
- The
tax effects of the adjustments above are excluded from the Core Tax
charge
Details on the nature of Core financial measures are provided on
page 70 of the Annual Report and Form
20-F Information 2024.
Reference should be made to the Reconciliation of Reported to Core
financial measures table included in the Financial Performance
section in this announcement.
Definitions
Gross Margin is defined as Gross Profit as a percentage of Total
Revenue.
EBITDA is defined as Reported Profit before tax after adding back
Net finance expense, results from Joint ventures and associates and
charges for Depreciation, amortisation and impairment. Reference
should be made to the Reconciliation of Reported Profit before tax
to EBITDA included in the Financial Performance section in this
announcement.
Operating margin is defined as Operating profit as a percentage of
Total Revenue.
Net debt is defined as Interest-bearing loans and borrowings and
Lease liabilities, net of Cash and cash equivalents, Other
investments, and Net derivative financial instruments. Reference
should be made to Note 2 'Net debt', included in the Notes to the
interim financial statements in this announcement.
The Company strongly encourages investors and analysts not to rely
on any single financial measure, but to review AstraZeneca's
financial statements, including the Notes thereto, and other
available Company reports, carefully and in their
entirety.
Due to rounding, the sum of a number of dollar values and
percentages in this announcement may not agree to
totals.
Financial
performance
Table 7: Reported Profit and Loss
|
|
Q1 2025
|
Q1 2024
|
%
Change
|
|
|
|
||
|
|
$m
|
$m
|
Actual
|
CER
|
|
|
|
|
|
- Product Sales
|
12,875
|
12,177
|
6
|
9
|
|
|
|
|
|
- Alliance Revenue
|
639
|
457
|
40
|
42
|
|
|
|
|
|
- Product Revenue
|
13,514
|
12,634
|
7
|
10
|
|
|
|
|
|
- Collaboration Revenue
|
74
|
45
|
64
|
64
|
|
|
|
|
|
Total Revenue
|
13,588
|
12,679
|
7
|
10
|
|
|
|
|
|
Cost of sales
|
(2,241)
|
(2,218)
|
1
|
12
|
|
|
|
|
|
Gross profit
|
11,347
|
10,461
|
8
|
10
|
|
|
|
|
|
Distribution expense
|
(135)
|
(135)
|
-
|
4
|
|
|
|
|
|
R&D expense
|
(3,159)
|
(2,783)
|
13
|
15
|
|
|
|
|
|
SG&A expense
|
(4,492)
|
(4,495)
|
-
|
3
|
|
|
|
|
|
Other operating income & expense
|
113
|
67
|
71
|
71
|
|
|
|
|
|
Operating profit
|
3,674
|
3,115
|
18
|
17
|
|
|
|
|
|
Net finance expense
|
(265)
|
(302)
|
(12)
|
(11)
|
|
|
|
|
|
Joint ventures and associates
|
(7)
|
(13)
|
(50)
|
(48)
|
|
|
|
|
|
Profit before tax
|
3,402
|
2,800
|
21
|
20
|
|
|
|
|
|
Taxation
|
(481)
|
(620)
|
(23)
|
(23)
|
|
|
|
|
|
Tax rate
|
14%
|
22%
|
|
|
|
|
|
|
|
Profit after tax
|
2,921
|
2,180
|
34
|
33
|
|
|
|
|
|
Earnings per share
|
$1.88
|
$1.41
|
34
|
32
|
|
|
|
|
Table 8: Reconciliation of Reported Profit before tax to
EBITDA
|
|
Q1 2025
|
Q1 2024
|
%
Change
|
|
|
|
||
|
|
$m
|
$m
|
Actual
|
CER
|
|
|
|
|
|
Reported Profit before tax
|
3,402
|
2,800
|
21
|
20
|
|
|
|
|
|
Net finance expense
|
265
|
302
|
(12)
|
(11)
|
|
|
|
|
|
Joint ventures and associates
|
7
|
13
|
(50)
|
(48)
|
|
|
|
|
|
Depreciation, amortisation and impairment
|
1,284
|
1,255
|
2
|
3
|
|
|
|
|
|
EBITDA
|
4,958
|
4,370
|
13
|
13
|
|
|
|
|
Table 9: Reconciliation of Reported to Core financial
measures: Q1 2025
|
|
Reported
|
Restructuring
|
Intangible Asset Amortisation & Impairments
|
Other
|
Core
|
% Change
|
|
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Actual
|
CER
|
|
Gross profit
|
11,347
|
8
|
8
|
2
|
11,365
|
8
|
10
|
|
- Gross Margin
|
84%
|
|
|
|
84%
|
+1pp
|
-
|
|
Distribution expense
|
(135)
|
3
|
-
|
-
|
(132)
|
(2)
|
2
|
|
R&D expense
|
(3,159)
|
60
|
10
|
1
|
(3,088)
|
14
|
16
|
|
- R&D % of Total Revenue
|
23%
|
|
|
|
23%
|
-1pp
|
-1pp
|
|
SG&A expense
|
(4,492)
|
50
|
957
|
28
|
(3,457)
|
1
|
4
|
|
- SG&A % of Total Revenue
|
33%
|
|
|
|
25%
|
+1pp
|
+2pp
|
|
Total operating expense
|
(7,786)
|
113
|
967
|
29
|
(6,677)
|
7
|
9
|
|
Other operating income & expense
|
113
|
1
|
-
|
1
|
115
|
79
|
78
|
|
Operating profit
|
3,674
|
122
|
975
|
32
|
4,803
|
11
|
12
|
|
- Operating
Margin
|
27%
|
|
|
|
35%
|
+1pp
|
-
|
|
Net finance expense
|
(265)
|
-
|
-
|
50
|
(215)
|
(12)
|
(11)
|
|
Taxation
|
(481)
|
(28)
|
(187)
|
(18)
|
(714)
|
(18)
|
(18)
|
|
EPS
|
$1.88
|
$0.06
|
$0.51
|
$0.04
|
$2.49
|
21
|
21
|
Profit and Loss drivers
Gross profit
The change in Gross Margin (Reported and Core) in Q1 2025 was
impacted by:
- Positive
effects from fluctuations in foreign exchange rates. Currency
impacts may have a positive or negative impact in future
quarters
- Positive
effects from changing product mix. The rising contribution of
Product Sales with profit sharing arrangements (Lynparza, Enhertu, Tezspire, Koselugo) has a negative impact on Gross Margin because
AstraZeneca records Product Sales in certain markets and pays away
a share of the gross profits to its collaboration partners. The
profit share paid to partners is recorded in AstraZeneca's Cost of
sales line
- Pricing
adjustments, for example to sales reimbursed by the Medicare Part D
programme in the US, diluted the gross margin in the first quarter.
Some of these adjustments resulted in higher volumes, partially
offsetting the overall impact on profits
Variations in Gross Margin performance between periods can continue
to be expected due to product seasonality, foreign exchange
fluctuations, and other effects.
R&D expense
The change in R&D expense (Reported and Core) in the period was
impacted by:
- Positive
data read-outs for high value pipeline opportunities that have
ungated late-stage trials
- Investment
in platforms, new technology and capabilities to enhance R&D
capabilities
- Addition
of R&D projects following completion of previously announced
business development activity
SG&A expense
- The
change in SG&A expense (Reported and Core) in the period was
driven primarily by market development activities for launches and
to support continued growth in existing brands
Other operating income and expense
Other operating income in Q1 2025 consisted primarily of royalties
and an upfront fee on a divestment.
Net finance expense
Core Net finance expense decreased 12% (11% at CER) mainly driven
by an adjustment of interest on tax, due to a reduction of tax
liabilities relating to prior periods (see below).
Taxation
The effective Reported tax rate for the three months to 31 March
2025 was 14% (Q1 2024: 22%) and the effective Core Tax rate was 16%
(Q1 2024: 21%).
The Q1 2025 tax rate benefited from a reduction of tax liabilities
arising from updates to estimates of prior period tax liabilities
following settlements with tax authorities.
The cash tax paid for the quarter ended 31 March 2025 was $363m (Q1
2024: $430m), representing 11% of Reported Profit before tax (Q1
2024: 15%).
Cash Flow
Table 10: Cash Flow summary
|
|
Q1 2025
$m
|
Q1 2024
$m
|
Change$m
|
|
Reported Operating profit
|
3,674
|
3,115
|
559
|
|
Depreciation, amortisation and impairment
|
1,284
|
1,255
|
29
|
|
Movement in working capital and short-term provisions
|
(426)
|
(455)
|
29
|
|
Gains on disposal of intangible assets
|
(66)
|
-
|
(66)
|
|
Fair value movements on contingent consideration arising from
business combinations
|
1
|
16
|
(15)
|
|
Non-cash and other movements
|
31
|
(674)
|
705
|
|
Interest paid
|
(422)
|
(341)
|
(81)
|
|
Taxation paid
|
(363)
|
(430)
|
67
|
|
Net cash inflow from operating activities
|
3,713
|
2,486
|
1,227
|
|
Net cash inflow before financing activities
|
2,460
|
73
|
2,387
|
|
Net cash (outflow)/inflow from financing activities
|
(2,707)
|
2,028
|
(4,735)
|
Net cash flow
The change in Net cash inflow before financing activities of
$2,387m is primarily driven by the reduction in cash outflow
relating to the Acquisitions of subsidiaries, net of cash acquired
of $726m, which in 2024 related to the acquisition of Gracell
Biotechnologies Inc., and the reduction in cash outflow relating to
Purchase of intangible assets which included an outflow of $639m
relating to the acquisition of Icosavax in 2024.
The change in Net cash (outflow)/inflow from financing activities
of $4,735m is primarily driven by the issue of new long-term loans
of $4,976m in 2024, with no issuance in 2025.
Capital expenditure
Capital expenditure on tangible assets and Software-related
intangible assets amounted to $493m in Q1 2025 (Q1 2024: $474m).
The increase of capital expenditure in 2025 was driven by
investment in several major manufacturing projects and continued
investment in technology upgrades.
Net debt
Net debt increased by $1,497m in the three months to 31 March 2025
to $26,067m. Details of the committed undrawn bank facilities are
disclosed within the going concern section of Note 1. Details of
the Company's solicited credit ratings and further details on Net
debt are disclosed in Note 2.
Net debt
Table 11: Net debt summary
|
|
At 31 Mar 2025
$m
|
At 31 Dec 2024
$m
|
At 31 Mar 2024
$m
|
|
Cash and cash equivalents
|
5,230
|
5,488
|
7,841
|
|
Other investments
|
165
|
166
|
180
|
|
Cash and investments
|
5,395
|
5,654
|
8,021
|
|
Overdrafts and short-term borrowings
|
(445)
|
(330)
|
(477)
|
|
Commercial paper
|
(948)
|
-
|
(980)
|
|
Lease liabilities
|
(1,551)
|
(1,452)
|
(1,242)
|
|
Current instalments of loans
|
(2,010)
|
(2,007)
|
(4,593)
|
|
Non-current instalments of loans
|
(26,692)
|
(26,506)
|
(27,259)
|
|
Interest-bearing loans and borrowings (Gross debt)
|
(31,646)
|
(30,295)
|
(34,551)
|
|
Net derivatives
|
184
|
71
|
81
|
|
Net Debt
|
(26,067)
|
(24,570)
|
(26,449)
|
Summarised financial information for guarantee of securities of
subsidiaries
AstraZeneca Finance LLC ("AstraZeneca Finance") is the issuer of
1.2% Notes due 2026, 4.8% Notes due 2027, 4.875% Notes due 2028,
1.75% Notes due 2028, 4.85% Notes due 2029, 4.9% Notes due 2030,
4.9% Notes due 2031, 2.25% Notes due 2031, 4.875% Notes due 2033
and 5% Notes due 2034 (the "AstraZeneca Finance USD Notes"). Each
series of AstraZeneca Finance USD Notes has been fully and
unconditionally guaranteed by AstraZeneca PLC. AstraZeneca Finance
is 100% owned by AstraZeneca PLC and each of the guarantees issued
by AstraZeneca PLC is full and unconditional and joint and
several.
The AstraZeneca Finance USD Notes are senior unsecured obligations
of AstraZeneca Finance and rank equally with all of AstraZeneca
Finance's existing and future senior unsecured and unsubordinated
indebtedness. The guarantee by AstraZeneca PLC of the AstraZeneca
Finance USD Notes is the senior unsecured obligation of AstraZeneca
PLC and ranks equally with all of AstraZeneca PLC's existing and
future senior unsecured and unsubordinated indebtedness. Each
guarantee by AstraZeneca PLC is effectively subordinated to any
secured
indebtedness of AstraZeneca PLC to the extent of the value of the
assets securing such indebtedness. The AstraZeneca Finance USD
Notes are structurally subordinated to indebtedness and other
liabilities of the subsidiaries of AstraZeneca PLC, none of which
guarantee the AstraZeneca Finance USD Notes.
AstraZeneca PLC manages substantially all of its operations through
divisions, branches and/or investments in subsidiaries and
affiliates. Accordingly, the ability of AstraZeneca PLC to service
its debt and guarantee obligations is also dependent upon the
earnings of its subsidiaries, affiliates, branches and divisions,
whether by dividends, distributions, loans or otherwise. Please
refer to the Consolidated financial statements of AstraZeneca PLC
in our Annual Report on Form 20-F as filed with the SEC and
information contained herein for further financial information
regarding AstraZeneca PLC and its consolidated subsidiaries. For
further details, terms and conditions of the AstraZeneca Finance
USD Notes please refer to AstraZeneca PLC's reports on Form 6-K
furnished to the SEC on 22 February 2024, 3 March 2023 and 28 May
2021.
Pursuant to Rule 13-01 and Rule 3-10 of Regulation S-X under the
Securities Act of 1933, as amended (the "Securities Act"), we
present below the summary financial information for AstraZeneca
PLC, as Guarantor, excluding its consolidated subsidiaries, and
AstraZeneca Finance, as the issuer, excluding its consolidated
subsidiaries. The following summary financial information of
AstraZeneca PLC and AstraZeneca Finance is presented on a combined
basis and transactions between the combining entities have been
eliminated. Financial information for non-guarantor entities has
been excluded. Intercompany balances and transactions between the
obligor group and the non-obligor subsidiaries are presented on
separate lines.
Obligor group summarised statements
Table 12: Obligor group summarised Statement of comprehensive
income
|
|
Q1 2025
$m
|
Q1 2024
$m
|
|
Total Revenue
|
-
|
-
|
|
Gross
profit
|
-
|
-
|
|
Operating loss
|
-
|
-
|
|
Loss for the period
|
(302)
|
(234)
|
|
Transactions with subsidiaries that are not issuers or
guarantors
|
5,807
|
588
|
Table 13: Obligor group summarised Statement of financial
position
|
|
At 31 Mar 2025
$m
|
At 31 Mar 2024
$m
|
|
Current assets
|
68
|
12
|
|
Non-current assets
|
-
|
-
|
|
Current liabilities
|
(3,201)
|
(5,778)
|
|
Non-current liabilities
|
(26,748)
|
(27,161)
|
|
Amounts due from subsidiaries that are not issuers or
guarantors
|
20,922
|
21,242
|
|
Amounts due to subsidiaries that are not issuers or
guarantors
|
-
|
-
|
Capital allocation
The Group's capital allocation priorities include: investing in the
business and pipeline; maintaining a strong, investment-grade
credit rating; potential value-enhancing business development
opportunities; and supporting the progressive dividend
policy.
In approving the declaration of dividends, the Board considers both
the liquidity of the company and the level of reserves legally
available for distribution.
In FY 2025, the Company intends to increase the annual dividend per
share declared to $3.20 per share. Dividends are paid to
shareholders from AstraZeneca PLC, a Group holding company with no
direct operations. The ability of AstraZeneca PLC to make
shareholder distributions is dependent on the creation of profits
for distribution and the receipt of funds from subsidiary
companies.
The consolidated Group reserves set out in the Condensed
consolidated statement of financial position do not reflect the
profit available for distribution to the shareholders of
AstraZeneca PLC.
In FY 2024, capital expenditure on tangible assets and
Software-related intangible assets amounted to $2,218m. In FY 2025
the Group expects to increase expenditure on tangible assets and
Software-related intangible assets by approximately 50%, driven by
manufacturing expansion projects and investments in systems and
technology.
Foreign exchange
The Company's transactional currency exposures on working capital
balances, which typically extend for up to three months, are hedged
where practicable using forward foreign exchange contracts against
the individual companies' reporting currency.
In addition, the Company's external dividend payments, paid
principally in pound sterling and Swedish krona, are fully hedged
from the time of their announcement to the payment date.Foreign
exchange gains and losses on forward contracts transacted for
transactional hedging are taken to profit or to Other comprehensive
income if the contract is in a designated cashflow
hedge.
Table 14: Currency sensitivities
|
Currency
|
Primary Relevance
|
Exchange rate vs USD (average rate in period)
|
Annual impact of 5% weakening vs
USD1 ($m)
|
|||||
|
|
|
FY 20242
|
YTD 20253
|
Change
(%)
|
Mar 20254
|
Change
(%)
|
TotalRevenue
|
Core Operating Profit
|
|
EUR
|
Total Revenue
|
0.92
|
0.95
|
(3)
|
0.93
|
(0)
|
(461)
|
(232)
|
|
CNY
|
Total Revenue
|
7.21
|
7.29
|
(1)
|
7.26
|
(1)
|
(313)
|
(171)
|
|
JPY
|
Total Revenue
|
151.46
|
152.59
|
(1)
|
149.11
|
2
|
(179)
|
(121)
|
|
GBP
|
Operating expense
|
0.78
|
0.79
|
(2)
|
0.78
|
1
|
(68)
|
124
|
|
SEK
|
Operating expense
|
10.57
|
10.69
|
(1)
|
10.16
|
4
|
(9)
|
69
|
|
Other
|
|
|
|
|
|
|
(557)
|
(289)
|
1. Assumes the average exchange rate vs USD in FY 2025
is 5% lower than the average rate in FY 2024. The impact data are
estimates, based on best prevailing assumptions around currency
profiles.
2. Based on average daily spot rates 1 Jan 2024 to 31
Dec 2024.
3. Based on average daily spot rates 1 Jan 2025 to 31
Mar 2025.
4. Based on average daily spot rates 1 Mar 2025 to 31
Mar 2025.
|
Interim
financial statements
|
Table 15: Condensed consolidated statement of comprehensive
income
|
|
Q1 2025
$m
|
Q1 2024
$m
|
|
- Product Sales
|
12,875
|
12,177
|
|
- Alliance Revenue
|
639
|
457
|
|
Product Revenue
|
13,514
|
12,634
|
|
Collaboration Revenue
|
74
|
45
|
|
Total Revenue
|
13,588
|
12,679
|
|
Cost of sales
|
(2,241)
|
(2,218)
|
|
Gross profit
|
11,347
|
10,461
|
|
Distribution expense
|
(135)
|
(135)
|
|
Research and development expense
|
(3,159)
|
(2,783)
|
|
Selling, general and administrative expense
|
(4,492)
|
(4,495)
|
|
Other operating income and expense
|
113
|
67
|
|
Operating profit
|
3,674
|
3,115
|
|
Finance income
|
84
|
111
|
|
Finance expense
|
(349)
|
(413)
|
|
Share of after tax losses in associates and joint
ventures
|
(7)
|
(13)
|
|
Profit before tax
|
3,402
|
2,800
|
|
Taxation
|
(481)
|
(620)
|
|
Profit for the period
|
2,921
|
2,180
|
|
|
|
|
|
Other comprehensive income
|
|
|
|
Items that will not be reclassified to profit or loss:
|
|
|
|
Remeasurement of the defined benefit pension liability
|
51
|
144
|
|
Net (losses)/gains on equity investments measured at fair value
through other comprehensive income
|
(58)
|
35
|
|
Tax on items that will not be reclassified to profit or
loss
|
(17)
|
(39)
|
|
|
(24)
|
140
|
|
Items that may be reclassified subsequently to profit or
loss:
|
|
|
|
Foreign exchange arising on consolidation
|
1,152
|
(515)
|
|
Foreign exchange arising on designated liabilities in net
investment hedges
|
53
|
(98)
|
|
Fair value movements on cash flow hedges
|
72
|
(86)
|
|
Fair value movements on cash flow hedges transferred to profit and
loss
|
(102)
|
70
|
|
Fair value movements on derivatives designated in net investment
hedges
|
(10)
|
22
|
|
Costs of hedging
|
(8)
|
15
|
|
Tax on items that may be reclassified subsequently to profit or
loss
|
(30)
|
35
|
|
|
1,127
|
(557)
|
|
Other comprehensive income/(expense), net of tax
|
1,103
|
(417)
|
|
|
|
|
|
Total comprehensive income for the period
|
4,024
|
1,763
|
|
|
|
|
|
Profit attributable to:
|
|
|
|
Owners of the Parent
|
2,916
|
2,179
|
|
Non-controlling interests
|
5
|
1
|
|
|
2,921
|
2,180
|
|
|
|
|
|
Total comprehensive income attributable to:
|
|
|
|
Owners of the Parent
|
4,017
|
1,762
|
|
Non-controlling interests
|
7
|
1
|
|
|
4,024
|
1,763
|
|
|
|
|
|
Earnings per share
|
|
|
|
Basic earnings per $0.25 Ordinary Share
|
$1.88
|
$1.41
|
|
Diluted earnings per $0.25 Ordinary Share
|
$1.87
|
$1.40
|
|
Weighted average number of Ordinary Shares in issue
(millions)
|
1,550
|
1,549
|
|
Diluted weighted average number of Ordinary Shares in issue
(millions)
|
1,561
|
1,560
|
Table 16: Condensed consolidated statement of financial
position
|
|
At 31 Mar 2025
$m
|
At 31 Dec 2024
$m
|
At 31 Mar 2024
$m
|
|
Assets
|
|
|
|
|
Non-current assets
|
|
|
|
|
Property, plant and equipment
|
10,819
|
10,252
|
9,411
|
|
Right-of-use assets
|
1,484
|
1,395
|
1,205
|
|
Goodwill
|
21,130
|
21,025
|
19,978
|
|
Intangible assets
|
37,550
|
37,177
|
38,834
|
|
Investments in associates and joint ventures
|
270
|
268
|
130
|
|
Other investments
|
1,630
|
1,632
|
1,565
|
|
Derivative financial instruments
|
210
|
182
|
213
|
|
Other receivables
|
926
|
930
|
745
|
|
Deferred tax assets
|
6,095
|
5,347
|
4,618
|
|
|
80,114
|
78,208
|
76,699
|
|
Current assets
|
|
|
|
|
Inventories
|
5,884
|
5,288
|
5,337
|
|
Trade and other receivables
|
13,250
|
12,972
|
11,072
|
|
Other investments
|
165
|
166
|
180
|
|
Derivative financial instruments
|
45
|
54
|
11
|
|
Income tax receivable
|
1,565
|
1,859
|
1,153
|
|
Cash and cash equivalents
|
5,230
|
5,488
|
7,841
|
|
|
26,139
|
25,827
|
25,594
|
|
|
|
|
|
|
Total assets
|
106,253
|
104,035
|
102,293
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
Current liabilities
|
|
|
|
|
Interest-bearing loans and borrowings
|
(3,403)
|
(2,337)
|
(6,050)
|
|
Lease liabilities
|
(355)
|
(339)
|
(281)
|
|
Trade and other payables
|
(22,544)
|
(22,465)
|
(19,699)
|
|
Derivative financial instruments
|
(22)
|
(50)
|
(92)
|
|
Provisions
|
(1,149)
|
(1,269)
|
(1,148)
|
|
Income tax payable
|
(1,656)
|
(1,406)
|
(1,631)
|
|
|
(29,129)
|
(27,866)
|
(28,901)
|
|
Non-current liabilities
|
|
|
|
|
Interest-bearing loans and borrowings
|
(26,692)
|
(26,506)
|
(27,259)
|
|
Lease liabilities
|
(1,196)
|
(1,113)
|
(961)
|
|
Derivative financial instruments
|
(49)
|
(115)
|
(51)
|
|
Deferred tax liabilities
|
(3,553)
|
(3,305)
|
(2,621)
|
|
Retirement benefit obligations
|
(1,279)
|
(1,330)
|
(1,280)
|
|
Provisions
|
(922)
|
(921)
|
(1,123)
|
|
Income tax payable
|
(264)
|
(238)
|
-
|
|
Other payables
|
(2,038)
|
(1,770)
|
(2,596)
|
|
|
(35,993)
|
(35,298)
|
(35,891)
|
|
|
|
|
|
|
Total liabilities
|
(65,122)
|
(63,164)
|
(64,792)
|
|
|
|
|
|
|
Net assets
|
41,131
|
40,871
|
37,501
|
|
|
|
|
|
|
Equity
|
|
|
|
|
Share capital
|
388
|
388
|
388
|
|
Share premium account
|
35,233
|
35,226
|
35,194
|
|
Other reserves
|
2,054
|
2,012
|
2,075
|
|
Retained earnings
|
3,364
|
3,160
|
(212)
|
|
Capital and reserves attributable to equity holders of the
Parent
|
41,039
|
40,786
|
37,445
|
|
Non-controlling interests
|
92
|
85
|
56
|
|
Total equity
|
41,131
|
40,871
|
37,501
|
Table 17: Condensed consolidated statement of changes in
equity
|
|
Share capital
|
Share premium account
|
Other reserves
|
Retained earnings
|
Total attributable to owners of the parent
|
Non-controlling interests
|
Total equity
|
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
|
At 1 Jan 2024
|
388
|
35,188
|
2,065
|
1,502
|
39,143
|
23
|
39,166
|
|
Profit for the period
|
-
|
-
|
-
|
2,179
|
2,179
|
1
|
2,180
|
|
Other comprehensive expense
|
-
|
-
|
-
|
(417)
|
(417)
|
-
|
(417)
|
|
Transfer to other reserves
|
-
|
-
|
10
|
(10)
|
-
|
-
|
-
|
|
Transactions with owners
|
|
|
|
|
|
|
|
|
Dividends
|
-
|
-
|
-
|
(3,052)
|
(3,052)
|
-
|
(3,052)
|
|
Issue of Ordinary Shares
|
-
|
6
|
-
|
-
|
6
|
-
|
6
|
|
Changes in non-controlling interests
|
-
|
-
|
-
|
-
|
-
|
32
|
32
|
|
Share-based payments charge for the period
|
-
|
-
|
-
|
159
|
159
|
-
|
159
|
|
Settlement of share plan awards
|
-
|
-
|
-
|
(573)
|
(573)
|
-
|
(573)
|
|
Net movement
|
-
|
6
|
10
|
(1,714)
|
(1,698)
|
33
|
(1,665)
|
|
At 31 Mar 2024
|
388
|
35,194
|
2,075
|
(212)
|
37,445
|
56
|
37,501
|
|
|
|
|
|
|
|
|
|
|
At 1 Jan 2025
|
388
|
35,226
|
2,012
|
3,160
|
40,786
|
85
|
40,871
|
|
Profit for the period
|
-
|
-
|
-
|
2,916
|
2,916
|
5
|
2,921
|
|
Other comprehensive income
|
-
|
-
|
(42)
|
1,143
|
1,101
|
2
|
1,103
|
|
Transfer to other reserves
|
-
|
-
|
58
|
(58)
|
-
|
-
|
-
|
|
Transactions with owners
|
|
|
|
|
|
|
|
|
Dividends
|
-
|
-
|
-
|
(3,249)
|
(3,249)
|
-
|
(3,249)
|
|
Issue of Ordinary Shares
|
-
|
7
|
-
|
-
|
7
|
-
|
7
|
|
Movement in shares held by Employee Benefit Trusts
|
-
|
-
|
26
|
-
|
26
|
-
|
26
|
|
Share-based payments charge for the period
|
-
|
-
|
-
|
174
|
174
|
-
|
174
|
|
Settlement of share plan awards
|
-
|
-
|
-
|
(722)
|
(722)
|
-
|
(722)
|
|
Net movement
|
-
|
7
|
42
|
204
|
253
|
7
|
260
|
|
At 31 Mar 2025
|
388
|
35,233
|
2,054
|
3,364
|
41,039
|
92
|
41,131
|
Transfer to other reserves includes $70m in respect of the opening
balance on the Cash flow hedge reserve. The cash flow hedge reserve
was previously disclosed within Retained earnings but from 2025 is
disclosed within Other reserves.
Table 18: Condensed consolidated statement of cash
flows
|
|
Q1 2025
$m
|
Q1 2024
$m
|
|
Cash flows from operating activities
|
|
|
|
Profit before tax
|
3,402
|
2,800
|
|
Finance income and expense
|
265
|
302
|
|
Share of after tax losses of associates and joint
ventures
|
7
|
13
|
|
Depreciation, amortisation and impairment
|
1,284
|
1,255
|
|
Movement in working capital and short-term provisions
|
(426)
|
(455)
|
|
Gains on disposal of intangible assets
|
(66)
|
-
|
|
Fair value movements on contingent consideration arising from
business combinations
|
1
|
16
|
|
Non-cash and other movements
|
31
|
(674)
|
|
Cash generated from operations
|
4,498
|
3,257
|
|
Interest paid
|
(422)
|
(341)
|
|
Tax paid
|
(363)
|
(430)
|
|
Net cash inflow from operating activities
|
3,713
|
2,486
|
|
|
|
|
|
Cash flows from investing activities
|
|
|
|
Acquisition of subsidiaries, net of cash acquired
|
-
|
(726)
|
|
Payment of contingent consideration from business
combinations
|
(362)
|
(222)
|
|
Purchase of property, plant and equipment
|
(429)
|
(417)
|
|
Disposal of property, plant and equipment
|
1
|
53
|
|
Purchase of intangible assets
|
(540)
|
(1,188)
|
|
Disposal of intangible assets
|
9
|
75
|
|
Purchase of non-current asset investments
|
-
|
(41)
|
|
Disposal of non-current asset investments
|
-
|
9
|
|
Movement in short-term investments, fixed deposits and other
investing instruments
|
1
|
(57)
|
|
Disposal of investments in associates and joint
ventures
|
-
|
8
|
|
Interest received
|
67
|
93
|
|
Net cash outflow from investing activities
|
(1,253)
|
(2,413)
|
|
Net cash inflow before financing activities
|
2,460
|
73
|
|
|
|
|
|
Cash flows from financing activities
|
|
|
|
Proceeds from issue of share capital
|
8
|
6
|
|
Own shares purchased by Employee Benefit Trust
|
(486)
|
-
|
|
Issue of loans and borrowings
|
-
|
4,976
|
|
Repayment of loans and borrowings
|
(4)
|
(7)
|
|
Dividends paid
|
(3,347)
|
(3,033)
|
|
Hedge contracts relating to dividend payments
|
104
|
(8)
|
|
Repayment of obligations under leases
|
(81)
|
(74)
|
|
Movement in short-term borrowings
|
1,099
|
1,001
|
|
Payment of Acerta Pharma share purchase liability
|
-
|
(833)
|
|
Net cash (outflow)/inflow from financing activities
|
(2,707)
|
2,028
|
|
|
|
|
|
Net (decrease)/increase in Cash and cash equivalents in the
period
|
(247)
|
2,101
|
|
Cash and cash equivalents at the beginning of the
period
|
5,429
|
5,637
|
|
Exchange rate effects
|
25
|
(46)
|
|
Cash and cash equivalents at the end of the period
|
5,207
|
7,692
|
|
|
|
|
|
Cash and cash equivalents consist of:
|
|
|
|
Cash and cash equivalents
|
5,230
|
7,841
|
|
Overdrafts
|
(23)
|
(149)
|
|
|
5,207
|
7,692
|
Notes
to the Interim financial statements
Note 1: Basis of preparation and accounting policies
These unaudited Interim financial statements for the three months
ended 31 March 2025 have been prepared in accordance with
International Accounting Standard 34, 'Interim Financial Reporting'
(IAS 34), as issued by the International Accounting Standards Board
(IASB), IAS 34 as adopted by the European Union, UK-adopted IAS 34
and the Disclosure Guidance and Transparency Rules sourcebook of
the United Kingdom's Financial Conduct Authority and with the
requirements of the Companies Act 2006 as applicable to companies
reporting under those standards.
The unaudited Interim financial statements for the three months
ended 31 March 2025 were approved by the Board of Directors
for publication on 29 April 2025.
This results announcement does not constitute statutory accounts of
the Group within the meaning of sections 434(3) and 435(3) of the
Companies Act 2006. The annual financial statements of the Group
for the year ended 31 December 2024 were prepared in accordance
with UK-adopted international accounting standards and with the
requirements of the Companies Act 2006. The annual financial
statements also comply fully with IFRS Accounting Standards as
issued by the IASB and International Accounting Standards as
adopted by the European Union. Except for the estimation of the
interim income tax charge, the Interim financial statements have
been prepared applying the accounting policies that were applied in
the preparation of the Group's published consolidated financial
statements for the year ended 31 December 2024.
The comparative figures for the financial year ended 31 December
2024 are not the Group's statutory accounts for that financial
year. Those accounts have been reported on by the Group's auditors
and will be delivered to the Registrar of Companies; their report
was (i) unqualified, (ii) did not include a reference to any
matters to which the auditors drew attention by way of emphasis
without qualifying their report, and (iii) did not contain a
statement under section 498(2) or (3) of the Companies Act
2006.
Product Revenue
Effective 1 January 2025, the Group has updated the presentation of
Total Revenue on the face of the Statement of Comprehensive Income
to include a new subtotal 'Product Revenue' representing the
summation of Product Sales and Alliance Revenue .
Product Revenue and Collaboration Revenue form Total
Revenue.
Product Sales and Alliance Revenue will continue to be presented
separately, with the new subtotal providing additional aggregation
of revenue types with similar characteristics, reflecting the
growing importance of Alliance Revenue.
Full descriptions of Product Sales, Alliance Revenue and
Collaboration Revenue are included from page 152 of the
Group's Annual Report and Form
20-F Information 2024.
There are no changes to the Revenue accounting policy regarding the
types of transactions recorded in each revenue category. The
comparative period has been retrospectively adjusted to reflect the
additional subtotal, resulting in total Product Revenue being
reported for the quarter ending 31 March 2024 of
$12,634m.
Going concern
The Group has considerable financial resources available. As at 31
March 2025, the Group has $10.1bn in financial resources (cash and
cash equivalent balances of $5.2bn and undrawn committed bank
facilities of $4.9bn that are available until April 2030), with
$3.8bn of borrowings due within one year. These facilities contain
no financial covenants.
The Group has assessed the prospects of the Group over a period
longer than the required 12 months from the date of Board approval
of these consolidated financial statements, with no deterioration
noted requiring a further extension of this review. The Group's
revenues are largely derived from sales of medicines covered by
patents, which provide a relatively high level of resilience and
predictability to cash inflows, although government price
interventions in response to budgetary constraints are expected to
continue to adversely affect revenues in some of our significant
markets. The Group, however, anticipates new revenue streams from
both recently launched medicines and those in development, and the
Group has a wide diversity of customers and suppliers across
different geographic areas.
Consequently, the Directors believe that, overall, the Group is
well placed to manage its business risks successfully. Accordingly,
they continue to adopt the going concern basis in preparing the
Interim financial statements.
Legal proceedings
The information contained in Note 4 updates the disclosures
concerning legal proceedings and contingent liabilities in the
Group's Annual Report and Form
20-F Information 2024.
Note 2: Net debt
Table 19: Net debt
|
|
At 1 Jan 2025
|
Cash flow
|
Non-cash
and other
|
Exchange
movements
|
At 31 Mar 2025
|
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
|
Non-current instalments of loans
|
(26,506)
|
-
|
19
|
(205)
|
(26,692)
|
|
Non-current instalments of leases
|
(1,113)
|
-
|
(64)
|
(19)
|
(1,196)
|
|
Total long-term debt
|
(27,619)
|
-
|
(45)
|
(224)
|
(27,888)
|
|
Current instalments of loans
|
(2,007)
|
4
|
(7)
|
-
|
(2,010)
|
|
Current instalments of leases
|
(339)
|
97
|
(104)
|
(9)
|
(355)
|
|
Commercial paper
|
-
|
(948)
|
-
|
-
|
(948)
|
|
Collateral received from derivative counterparties
|
(181)
|
(171)
|
-
|
-
|
(352)
|
|
Other short-term borrowings excluding overdrafts
|
(90)
|
20
|
-
|
-
|
(70)
|
|
Overdrafts
|
(59)
|
36
|
-
|
-
|
(23)
|
|
Total current debt
|
(2,676)
|
(962)
|
(111)
|
(9)
|
(3,758)
|
|
Gross borrowings
|
(30,295)
|
(962)
|
(156)
|
(233)
|
(31,646)
|
|
Net derivative financial instruments
|
71
|
(104)
|
217
|
-
|
184
|
|
Net borrowings
|
(30,224)
|
(1,066)
|
61
|
(233)
|
(31,462)
|
|
Cash and cash equivalents
|
5,488
|
(283)
|
-
|
25
|
5,230
|
|
Other investments - current
|
166
|
(1)
|
-
|
-
|
165
|
|
Cash and investments
|
5,654
|
(284)
|
-
|
25
|
5,395
|
|
Net debt
|
(24,570)
|
(1,350)
|
61
|
(208)
|
(26,067)
|
The table above provides an analysis of Net debt and a
reconciliation of Net cash flow to the movement in Net debt. The
Group monitors Net debt as part of its capital management policy as
described in Note 28 of the Annual Report and Form
20-F Information 2024. Net debt
is a non-GAAP financial measure.
Net debt increased by $1,497m in the three months to 31 March 2025
to $26,067m.
Details of the committed undrawn bank facilities are disclosed
within the going concern section of Note 1. Non-cash movements
in the period include fair value adjustments under IFRS 9
'Financial Instruments'.
The Group has agreements with some bank counterparties whereby the
parties agree to post cash collateral on financial derivatives, for
the benefit of the other, equivalent to the market valuation of the
derivative positions above a predetermined threshold. The carrying
value of such cash collateral held by the Group at 31 March 2025
was $352m (31 December 2024: $181m) and the carrying value of such
cash collateral posted by the Group at 31 March 2025 was $102m (31
December 2024: $129m).
The equivalent GAAP measure to Net debt is 'liabilities arising
from financing activities', which excludes the amounts for cash and
overdrafts, other investments and non-financing derivatives
shown.
During the quarter ended 31 March 2025, Moody's upgraded the
Group's solicited long term credit rating to A1 from A2. The short
term rating remained at P-1. There were no changes to Standard and
Poor's credit ratings (long term: A+; short term:
A-1).
Note 3: Financial Instruments
As detailed in the Group's most recent annual financial statements,
the principal financial instruments consist of derivative financial
instruments, other investments, trade and other receivables, cash
and cash equivalents, trade and other payables, lease liabilities
and interest-bearing loans and borrowings.
The Group has certain equity investments that are categorised as
Level 3 in the fair value hierarchy that are held at $361m (31
December 2024: $353m) and for which a fair value gain/loss of $nil
has been recognised in the three months ended 31 March 2025 (Q1
2024: fair value loss of $1m). In the absence of specific market
data, these unlisted investments are held at fair value based on
the cost of investment and adjusted as necessary for impairments
and revaluations on new funding rounds, which are seen to
approximate the fair value. All other fair value gains and/or
losses that are presented in Net gains on equity investments
measured at fair value through other comprehensive income, in the
Condensed consolidated statement of comprehensive income for the
three months ended 31 March 2025, are Level 1 fair value
measurements, valued based on quoted prices in active
markets.
Financial instruments measured at fair value include $1,693m of
other investments, $3,969m held in money-market funds and $184m of
derivatives as at 31 March 2025. With the exception of derivatives
being Level 2 fair valued, and certain equity instruments of $361m
categorised as Level 3, the aforementioned balances are Level 1
fair valued. Financial instruments measured at amortised cost
include $102m of cash collateral pledged to counterparties. The
total fair value of Interest-bearing loans and borrowings as at 31
March 2025, which have a carrying value of $31,646m in the
Condensed consolidated statement of financial position, was
$30,853m.
Contingent consideration arising from business combinations is fair
valued using decision-tree analysis, with key inputs including the
probability of success, consideration of potential delays and the
expected levels of future revenues.
The contingent consideration balance relating to BMS's share of the
global diabetes alliance of $1,058m (31 December 2024:
$1,309m) would increase/decrease by $106m with an increase/decrease
in sales of 10%, as compared with the current
estimates.
Table 20: Contingent consideration
|
|
2025
|
2024
|
||
|
|
Diabetes alliance
$m
|
Other
$m
|
Total
$m
|
Total
$m
|
|
At 1 January
|
1,309
|
442
|
1,751
|
2,137
|
|
Additions through business combinations
|
-
|
-
|
-
|
54
|
|
Settlements
|
(261)
|
(101)
|
(362)
|
(222)
|
|
Revaluations
|
-
|
1
|
1
|
16
|
|
Discount unwind
|
10
|
9
|
19
|
28
|
|
At 31 March
|
1,058
|
351
|
1,409
|
2,013
|
Note 4: Legal proceedings and contingent liabilities
AstraZeneca is involved in various legal proceedings considered
typical to its business, including litigation and investigations,
including Government investigations, relating to product liability,
commercial disputes, infringement of intellectual property (IP)
rights, the validity of certain patents, anti-trust law and sales
and marketing practices. The matters discussed below constitute the
more significant developments since publication of the disclosures
concerning legal proceedings in AstraZeneca's Annual Report and
Form 20-F Information 2024 (the Disclosures). Information about the
nature and facts of the cases is disclosed in accordance with IAS
37.
As discussed in the Disclosures, the majority of claims involve
highly complex issues. Often these issues are subject to
substantial uncertainties and, therefore, the probability of a
loss, if any, being sustained and/or an estimate of the amount of
any loss is difficult to ascertain.
In cases that have been settled or adjudicated, or where
quantifiable fines and penalties have been assessed and which are
not subject to appeal, or where a loss is probable and we are able
to make a reasonable estimate of the loss, AstraZeneca records the
loss absorbed or makes a provision for its best estimate of the
expected loss. The position could change over time and the
estimates that the Group made, and upon which the Group have relied
in calculating these provisions are inherently imprecise. There
can, therefore, be no assurance that any losses that result from
the outcome of any legal proceedings will not exceed the amount of
the provisions that have been booked in the accounts. The major
factors causing this uncertainty are described more fully in the
Disclosures and herein.
AstraZeneca has full confidence in, and will vigorously defend and
enforce, its IP.
Matters disclosed in respect of the first quarter of 2025 and to 29
April 2025
Table 21: Patent litigation
Legal proceedings brought against AstraZeneca
|
Forxiga Patent Proceedings, UK
Considered to be a contingent liability
|
∗ In the UK, one of AstraZeneca's patents
relating to Forxiga is being challenged by Generics (UK)
Limited, Teva Pharmaceutical Industries Limited, and Glenmark
Pharmaceuticals Europe Limited.
∗
In March 2025, AstraZeneca applied for an interim injunction
against Glenmark's proposed at-risk sale of its dapaglifozin
product in the UK. AstraZeneca's request for injunction was denied
at first instance. AstraZeneca prevailed in its appeal, and the
interim injunction was granted.
∗ In April 2025, after trial in March 2025,
the first instance court held AstraZeneca's patent invalid for lack
of plausibility. AstraZeneca intends to seek permission to appeal
to the UK Court of Appeal.
|
Legal proceedings brought by AstraZeneca
|
Lokelma Patent Proceedings, US
Considered to be a contingent asset
|
∗ In August 2022, in response to Paragraph IV
notices, AstraZeneca initiated ANDA litigation against five generic
filers in the US District Court for the District of Delaware
(District Court). AstraZeneca alleged that a generic version
of Lokelma would infringe patents that are owned or
licensed by AstraZeneca.
∗ As previously disclosed, AstraZeneca has entered
into separate settlement agreements with four generic manufacturers
which resulted in dismissal of the corresponding
litigations.
∗ AstraZeneca has reached a settlement in
principle with the last generic manufacturer.
|
|
Soliris Patent Proceedings,
Canada
Considered to be a contingent asset
|
∗ In May 2023, AstraZeneca initiated patent
litigation in Canada alleging that Amgen Pharmaceuticals, Inc.'s
(Amgen) biosimilar eculizumab product will infringe AstraZeneca's
patents.
∗ In September 2023, AstraZeneca initiated
patent litigations in Canada alleging that Samsung Bioepis Co.
Ltd.'s (Samsung) biosimilar eculizumab product will infringe
AstraZeneca's patents. The filing of the litigation triggered
an automatic 24-month stay of the approval of each defendant's
biosimilar eculizumab product.
∗ Trial against Amgen occurred in January
2025. No decision has been issued.
∗ Trial against Samsung is scheduled to begin
in June 2025.
∗ In July and August 2023, in Canada, both
Amgen and Samsung brought actions challenging the validity of
AstraZeneca's patent relating to the use of eculizumab in treating
aHUS. Trial is scheduled for November
2025.
|
|
Soliris Patent Proceedings, UK
Considered to be a contingent asset
|
∗ In May 2024, Alexion initiated patent
infringement proceedings against Amgen Ltd and Samsung Bioepis UK
Ltd (Samsung UK) in the UK High Court of Justice alleging that
their respective biosimilar eculizumab products infringe an Alexion
patent; on the same day, Samsung UK initiated a revocation action
for the same patent.
∗ Trial was held in March 2025. The parties
are awaiting a decision.
|
Table 22: Commercial litigation
Legal proceedings brought against AstraZeneca
|
Definiens, Germany
Considered to be a contingent liability
|
∗ In Germany, in July 2020, AstraZeneca
received a notice of arbitration filed with the German Institution
of Arbitration from the sellers of Definiens AG (the Sellers)
regarding the 2014 Share Purchase Agreement (SPA) between
AstraZeneca and the Sellers. The Sellers claim that they are owed
approximately $140m in earn-outs under the SPA. In December 2023,
after an arbitration hearing, the arbitration panel made a final
award of $46.43m in favour of the Sellers.
∗ In March 2024, AstraZeneca filed an
application with the Bavarian Supreme Court to set aside the
arbitration award.
∗ In April 2025, the Bavarian Supreme Court
ruled in favour of AstraZeneca and annulled the arbitration
award.
∗ The Bavarian Supreme Court referred the
dispute back to the same arbitration panel for a second
determination.
|
|
Seroquel
XR Antitrust Litigation,
US
Considered to be a contingent liability
|
∗ In 2019, AstraZeneca was named in several
related complaints now proceeding in US District Court in Delaware
(District Court), including several putative class action lawsuits
that were purportedly brought on behalf of classes of direct
purchasers or end payors of Seroquel XR, that allege AstraZeneca and generic drug
manufacturers violated US antitrust laws when settling patent
litigation related to Seroquel XR.
∗ In July 2022, the District Court dismissed
claims relating to one of the generic manufacturers while allowing
claims relating to the second generic manufacturer to
proceed.
∗ In September 2024, AstraZeneca reached a
settlement agreement with one of the plaintiff classes which the
court has approved.
∗ The Court denied summary judgment and set
trial with the remaining plaintiffs to begin in May
2025.
|
|
Soliris Antitrust Class Action,
US
Considered to be a contingent liability
|
∗ In April 2025, AstraZeneca was named in a
lawsuit filed in the US District Court for the District of
Massachusetts alleging antitrust claims on behalf of a potential
class of end payors for Soliris from March 2022.
∗ The plaintiff alleges that AstraZeneca
violated federal and state antitrust and business practices laws by
obtaining improper patents for Soliris, delaying biosimilar entry and improperly
extending Soliris' market exclusivity.
|
|
Viela Bio, Inc. Shareholder Litigation, US
Matter concluded
|
∗ In February 2023, AstraZeneca was served
with a lawsuit filed in the Delaware state court against
AstraZeneca and certain officers (collectively, Defendants), on
behalf of a putative class of Viela Bio, Inc. (Viela) shareholders.
The complaint alleged that the Defendants breached their fiduciary
duty to Viela shareholders in the course of Viela's 2021 merger
with Horizon Therapeutics, plc.
∗ In July 2024, the Court granted with
prejudice AstraZeneca's motion to dismiss.
∗ In August 2024, plaintiffs appealed the
dismissal.
∗ In March 2025, the Delaware Supreme Court affirmed
the dismissal.
∗ This matter is now
concluded.
|
Table 23: Government investigations and
proceedings
Legal proceedings brought against AstraZeneca
|
Beyfortus Civil Investigative Demand,
US
Considered to be a contingent liability
|
∗ In March 2025, AstraZeneca received a
subpoena from the US Attorney's Office seeking certain records
relating to Beyfortus. The subpoena requests that the Company produce
various documents from January 2020 to present, including
communications related to specific batches
of Beyfortus, customer complaints, and FDA inspection
reports.
|
|
Shenzhen City Customs Office
Considered to be a contingent liability
|
∗ In relation to the illegal drug importation
allegations, in April 2025, AstraZeneca received a second Appraisal
Opinion from the Shenzhen City Customs Office regarding suspected
unpaid importation taxes amounting to $1.6m.
∗ To the best of AstraZeneca's knowledge, the
importation taxes referred to in the Appraisal Opinion relate to
Enhertu.
∗ A fine of between one and five times the
amount of unpaid importation taxes may also be levied if
AstraZeneca is found liable.
|
|
China Personal Information Infringement
Considered to be a contingent liability
|
∗ In relation to the personal information
infringement allegation, in April 2025, AstraZeneca received a
Notice of Transfer to the Prosecutor from the Shenzhen Bao'an
District Public Security Bureau (the PSB) regarding suspected
unlawful collection of personal information.
∗ The Company has been informed that there was
no illegal gain to the Company resulting from personal information
infringement.
|
Legal proceedings brought by AstraZeneca
|
340B State Litigation, US
Considered to be a contingent asset
|
∗ AstraZeneca has filed lawsuits against
Arkansas, Kansas, Louisiana, Maryland, Minnesota, Mississippi,
Missouri, and West Virginia challenging the constitutionality of
each state's 340B statute.
∗ In the Arkansas matter, trial is scheduled
for September 2025 and the state has moved to dismiss AstraZeneca's
complaint. In the Arkansas administrative proceeding, the
commissioner issued a cease-and-desist order in April 2025
requiring AstraZeneca to pause its 340B policy in
Arkansas.
∗ In Kansas, after obtaining a stipulation
from the state that AstraZeneca's policy does not violate the
Kansas 340B statute, AstraZeneca agreed to dismiss its
complaint.
∗ In Louisiana, the court granted the state's
motion for summary judgment. AstraZeneca has filed an
appeal.
∗ In Maryland, the state has moved to dismiss
AstraZeneca's complaint and the court has denied AstraZeneca's
preliminary injunction motion.
∗ In Minnesota, the court found that the
defendant government officials do not have authority to enforce the
law and accordingly dismissed AstraZeneca's complaint for lack of
standing.
∗ In Missouri, the court granted in part and
denied in part the state's motion to dismiss.
∗ In Mississippi, the court denied
AstraZeneca's preliminary injunction motion.
∗ In West Virginia, the matter is stayed
pending an appeal of a related West Virginia
litigation.
|
Other
Additional government inquiries
As is true for most, if not all, major prescription pharmaceutical
companies, AstraZeneca is currently involved in multiple inquiries
into drug marketing and pricing practices. In addition to the
investigations described above, various law enforcement offices
have, from time to time, requested information from the Group.
There have been no material developments in those
matters.
Note 5: Analysis of Revenue and Other operating income and
expense
Table 24: Q1 2025: Product Sales year-on-year
analysis
|
|
World
|
US
|
Emerging Markets
|
Europe
|
Established RoW
|
|||||||||
|
|
|
Change
|
|
Change
|
|
Change
|
|
Change
|
|
Change
|
||||
|
|
$m
|
Act %
|
CER %
|
$m
|
Act %
|
$m
|
Act %
|
CER %
|
$m
|
Act %
|
CER %
|
$m
|
Act %
|
CER %
|
|
- Tagrisso
|
1,679
|
5
|
8
|
678
|
9
|
519
|
7
|
12
|
307
|
2
|
6
|
175
|
(4)
|
1
|
|
- Imfinzi
|
1,261
|
13
|
16
|
728
|
25
|
142
|
10
|
20
|
252
|
8
|
13
|
139
|
(18)
|
(14)
|
|
- Calquence
|
762
|
6
|
8
|
507
|
3
|
54
|
37
|
54
|
170
|
11
|
15
|
31
|
(3)
|
2
|
|
- Lynparza
|
726
|
3
|
5
|
312
|
8
|
161
|
(4)
|
-
|
196
|
3
|
6
|
57
|
(3)
|
2
|
|
- Enhertu
|
198
|
63
|
71
|
-
|
n/m
|
136
|
64
|
72
|
43
|
67
|
72
|
19
|
51
|
61
|
|
- Zoladex
|
283
|
3
|
7
|
5
|
53
|
223
|
5
|
10
|
34
|
(5)
|
(2)
|
21
|
(12)
|
(7)
|
|
- Truqap
|
132
|
n/m
|
n/m
|
111
|
n/m
|
2
|
n/m
|
n/m
|
14
|
n/m
|
n/m
|
5
|
n/m
|
n/m
|
|
- Imjudo
|
80
|
30
|
33
|
53
|
37
|
5
|
24
|
52
|
11
|
46
|
53
|
11
|
(3)
|
1
|
|
- Other Oncology
|
110
|
(8)
|
(4)
|
3
|
(48)
|
76
|
(4)
|
-
|
5
|
(4)
|
-
|
26
|
(12)
|
(8)
|
|
Oncology
|
5,231
|
10
|
13
|
2,397
|
15
|
1,318
|
10
|
16
|
1,032
|
8
|
12
|
484
|
(7)
|
(2)
|
|
- Farxiga
|
2,057
|
11
|
16
|
383
|
(19)
|
871
|
22
|
31
|
683
|
24
|
28
|
120
|
11
|
15
|
|
- Crestor
|
316
|
7
|
10
|
12
|
20
|
272
|
13
|
17
|
-
|
n/m
|
n/m
|
32
|
(7)
|
(3)
|
|
- Brilinta
|
305
|
(6)
|
(4)
|
173
|
6
|
74
|
(16)
|
(13)
|
55
|
(17)
|
(14)
|
3
|
(34)
|
(30)
|
|
- Seloken
|
161
|
(2)
|
3
|
-
|
n/m
|
155
|
(4)
|
2
|
5
|
70
|
70
|
1
|
(12)
|
(7)
|
|
- Lokelma
|
153
|
35
|
38
|
69
|
33
|
30
|
47
|
54
|
26
|
40
|
44
|
28
|
22
|
28
|
|
- roxadustat
|
78
|
3
|
4
|
-
|
-
|
78
|
3
|
4
|
-
|
-
|
-
|
-
|
-
|
-
|
|
- Wainua
|
39
|
n/m
|
n/m
|
39
|
n/m
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Other CVRM
|
136
|
(28)
|
(25)
|
11
|
(76)
|
72
|
6
|
9
|
38
|
(39)
|
(37)
|
15
|
31
|
37
|
|
CVRM
|
3,245
|
8
|
12
|
687
|
(8)
|
1,552
|
14
|
20
|
807
|
13
|
17
|
199
|
9
|
13
|
|
- Symbicort
|
723
|
(6)
|
(3)
|
279
|
(7)
|
232
|
(8)
|
(4)
|
135
|
(5)
|
(2)
|
77
|
3
|
10
|
|
- Fasenra
|
418
|
17
|
19
|
249
|
19
|
27
|
20
|
29
|
103
|
11
|
16
|
39
|
17
|
23
|
|
- Breztri
|
300
|
37
|
39
|
148
|
41
|
90
|
29
|
32
|
42
|
38
|
43
|
20
|
39
|
47
|
|
- Tezspire
|
87
|
n/m
|
n/m
|
-
|
-
|
7
|
n/m
|
n/m
|
57
|
n/m
|
n/m
|
23
|
62
|
73
|
|
- Pulmicort
|
158
|
(30)
|
(26)
|
2
|
(56)
|
127
|
(34)
|
(30)
|
19
|
(2)
|
2
|
10
|
14
|
21
|
|
- Saphnelo
|
136
|
49
|
51
|
120
|
45
|
3
|
n/m
|
n/m
|
9
|
n/m
|
n/m
|
4
|
51
|
67
|
|
- Airsupra
|
28
|
n/m
|
n/m
|
28
|
n/m
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
- Other R&I
|
97
|
4
|
6
|
39
|
37
|
43
|
(12)
|
(10)
|
13
|
(7)
|
(3)
|
2
|
1
|
8
|
|
R&I
|
1,947
|
8
|
11
|
865
|
17
|
529
|
(10)
|
(6)
|
378
|
14
|
19
|
175
|
17
|
24
|
|
- Beyfortus
|
30
|
15
|
16
|
28
|
9
|
-
|
-
|
-
|
-
|
n/m
|
n/m
|
2
|
n/m
|
n/m
|
|
- Synagis
|
112
|
(34)
|
(32)
|
(1)
|
3
|
83
|
(8)
|
(3)
|
25
|
(59)
|
(58)
|
5
|
(74)
|
(74)
|
|
- FluMist
|
-
|
n/m
|
n/m
|
-
|
n/m
|
-
|
-
|
-
|
-
|
n/m
|
n/m
|
-
|
-
|
-
|
|
- Other V&I
|
1
|
(93)
|
(93)
|
-
|
-
|
-
|
-
|
-
|
1
|
(93)
|
(93)
|
-
|
-
|
-
|
|
V&I
|
143
|
(32)
|
(30)
|
27
|
2
|
83
|
(8)
|
(3)
|
26
|
(65)
|
(64)
|
7
|
(67)
|
(67)
|
|
- Ultomiris
|
1,050
|
22
|
25
|
604
|
25
|
52
|
65
|
77
|
228
|
13
|
17
|
166
|
16
|
22
|
|
- Soliris
|
444
|
(40)
|
(38)
|
288
|
(30)
|
65
|
(48)
|
(42)
|
56
|
(60)
|
(59)
|
35
|
(43)
|
(39)
|
|
- Strensiq
|
352
|
12
|
14
|
266
|
8
|
34
|
59
|
71
|
26
|
9
|
13
|
26
|
21
|
26
|
|
- Koselugo
|
138
|
4
|
8
|
53
|
16
|
40
|
(32)
|
(27)
|
34
|
82
|
90
|
11
|
23
|
29
|
|
- Other Rare Disease
|
58
|
9
|
15
|
26
|
19
|
14
|
3
|
21
|
16
|
4
|
8
|
2
|
(15)
|
(10)
|
|
Rare Disease
|
2,042
|
(3)
|
-
|
1,237
|
3
|
205
|
(18)
|
(10)
|
360
|
(10)
|
(7)
|
240
|
1
|
6
|
|
- Nexium
|
228
|
(5)
|
(1)
|
19
|
(10)
|
176
|
3
|
7
|
11
|
(22)
|
(15)
|
22
|
(34)
|
(30)
|
|
- Other
|
39
|
(26)
|
(24)
|
-
|
n/m
|
30
|
(12)
|
(11)
|
8
|
(46)
|
(43)
|
1
|
12
|
20
|
|
Other Medicines
|
267
|
(9)
|
(5)
|
19
|
(20)
|
206
|
-
|
4
|
19
|
(35)
|
(30)
|
23
|
(32)
|
(29)
|
|
Total Medicines
|
12,875
|
6
|
9
|
5,232
|
8
|
3,893
|
5
|
11
|
2,622
|
5
|
9
|
1,128
|
(1)
|
3
|
The table provides an analysis of year-on-year Product Sales, with
Actual and CER growth rates reflecting year-on-year
growth.
Table 25: Alliance Revenue
|
|
Q1 2025
$m
|
Q1 2024
$m
|
|
Enhertu
|
398
|
339
|
|
Tezspire
|
130
|
77
|
|
Beyfortus
|
82
|
20
|
|
Datroway
|
4
|
-
|
|
Other Alliance Revenue
|
25
|
21
|
|
Total
|
639
|
457
|
Table 26: Collaboration Revenue
|
|
Q1 2025
$m
|
Q1 2024
$m
|
|
Farxiga: sales
milestones
|
74
|
45
|
|
Total
|
74
|
45
|
Table 27: Other operating income and expense
|
|
Q1 2025
$m
|
Q1 2024
$m
|
|
Total
|
113
|
67
|
Other
shareholder information
Financial calendar
Announcement of H1 and Q2 2025
results:
29 July 2025
Announcement of 9M and Q3 2025 results:
6 November 2025
Dividend payment dates
Dividends are normally paid as follows:
- First
interim: Announced with the half year
results and paid in September
- Second
interim: Announced
with the full year results and paid in March
The ex-dividend dates shown below are for ordinary shares listed on
the London Stock Exchange (LSE).
Proposed dividend dates
|
|
Announced
|
Ex-dividend date(LSE)
|
Record date
|
Payment date
|
|
FY 2025 First interim*
|
29 Jul 2025
|
7 Aug 2025
|
8 Aug 2025
|
8 Sep 2025
|
*Provisional dates, subject to Board approval.
For the ex-dividend dates of ordinary shares listed on the
Stockholm Stock Exchange, and for American Depositary Receipts
listed on NASDAQ, please check with the relevant
exchange.
Contact details
For Investor Relations contacts, click
here. For Media
contacts, click
here.
Addresses for correspondence
|
Registered office
|
Registrar andtransfer office
|
Swedish Central Securities Depository
|
US depositary
|
|
1 Francis Crick Avenue
Cambridge Biomedical Campus
Cambridge
CB2 0AA
|
Equiniti Limited
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA
|
Euroclear Sweden AB
PO Box 191
SE-101 23 Stockholm
|
J.P. Morgan Chase Bank N.A.EQ Shareowner Services
P.O. Box 64504
St. Paul
MN 55164-0504
|
|
UK
|
UK
|
Sweden
|
US
|
|
+44 (0) 20 3749 5000
|
0800 389 1580
|
+46 (0) 8 402 9000
|
+1 (888) 697 8018 (US only)
|
|
|
+44 (0) 121 415 7033
|
|
+1 (651) 453 2128
|
Trademarks
Trademarks of the AstraZeneca group of companies appear throughout
this document in italics. Medical publications also appear
throughout the document in italics. AstraZeneca, the AstraZeneca
logotype and the AstraZeneca symbol are all trademarks of the
AstraZeneca group of companies. Trademarks of companies other than
AstraZeneca that appear in this document
include: Beyfortus, a trademark of Sanofi Pasteur
Inc.; Enhertu and Datroway, trademarks of Daiichi
Sankyo; Seloken, owned by AstraZeneca or Taiyo Pharma Co., Ltd
(depending on geography); Synagis, owned by AstraZeneca or Sobi aka Swedish Orphan
Biovitrum AB (publ). (depending on geography);
and Tezspire, a trademark of Amgen, Inc.
Information on or accessible through AstraZeneca's websites,
including astrazeneca.com,
does not form part of and is not incorporated into this
announcement.
AstraZeneca
AstraZeneca (LSE/STO/Nasdaq: AZN) is a global, science-led
biopharmaceutical company that focuses on the discovery,
development, and commercialisation of prescription medicines in
Oncology, Rare Disease, and BioPharmaceuticals, including
Cardiovascular, Renal & Metabolism, and Respiratory &
Immunology. Based in Cambridge, UK, AstraZeneca operates in over
100 countries and its innovative medicines are used by millions of
patients worldwide. Please visit astrazeneca.com and
follow the Company on Social Media @AstraZeneca.
Cautionary statements regarding forward-looking
statements
In order, among other things, to utilise the 'safe harbour' provisions of the US Private Securities Litigation Reform
Act of 1995, AstraZeneca (hereafter 'the Group') provides the
following cautionary statement:
This document contains certain forward-looking statements with
respect to the operations, performance and
financial condition of the Group, including,
among other things, statements about
expected revenues, margins,
earnings per share or other financial or other measures. Although the Group believes its expectations are based
on reasonable assumptions, any forward-looking statements, by their
very nature, involve risks and uncertainties and may be influenced
by factors that could cause actual outcomes and results to be
materially different from those predicted. The forward-looking
statements reflect knowledge and information available at
the date of preparation of this document and the Group undertakes no obligation to update these forward-looking
statements. The Group identifies the forward-looking statements by
using the words 'anticipates', 'believes', 'expects',
'intends' and similar expressions in such statements. Important factors that could cause actual results
to differ materially from those contained in forward-looking statements,
certain of which are beyond the Group's
control, include, among other things:
- the
risk of failure or delay in delivery of pipeline or launch of new
medicines;
- the
risk of failure to meet regulatory or ethical requirements for
medicine development or approval;
- the
risk of failures or delays in the quality or execution of the
Group's commercial strategies;
- the
risk of pricing, affordability, access and competitive
pressures;
- the
risk of failure to maintain supply of compliant, quality
medicines;
- the
risk of illegal trade in the Group's medicines;
- the
impact of reliance on third-party goods and
services;
- the
risk of failure in information technology or
cybersecurity;
- the
risk of failure of critical processes;
- the
risk of failure to collect and manage data and artificial
intelligence in line with legal and regulatory requirements and
strategic objectives;
- the
risk of failure to attract, develop, engage and retain a diverse,
talented and capable workforce;
- the
risk of failure to meet our sustainability targets, regulatory
requirements and stakeholder expectations with respect to the
environment;
- the
risk of the safety and efficacy of marketed medicines being
questioned;
- the
risk of adverse outcome of litigation and/or governmental
investigations;
- intellectual
property risks related to the Group's products;
- the
risk of failure to achieve strategic plans or meet targets or
expectations;
- the
risk of geopolitical and/or macroeconomic volatility disrupting the
operation of our global business;
- the
risk of failure in internal control, financial reporting or the
occurrence of fraud;
- the
risk of unexpected deterioration in the Group's financial
position;
- the
risk of foreign exchange rate movements impacting our
financial condition or results of operations;
and
- the
impact that global and/or geopolitical events may have or continue
to have on these risks, on the Group's ability to continue to
mitigate these risks, and on the Group's operations, financial
results or financial condition.
Glossary
1L,
2L,
etc
First line, second line, etc
AAAAI
American Academy of Allergy, Asthma, and Immunology
ACC
American College of Cardiology
aHUS
Atypical haemolytic uraemic syndrome
AKT
Serine/threonine protein kinase
ALK
Anaplastic lymphoma kinase gene
ASCO
American Society of Clinical Oncology
ATTR
/ -CM /
-PN
Transthyretin-mediated amyloid / cardiomyopathy /
polyneuropathy
ATTRv
/ -CM / -PN
Hereditary transthyretin-mediated amyloid / cardiomyopathy /
polyneuropathy
BTC
Biliary tract cancer
BTKi
Bruton tyrosine kinase inhibitor
CDK4
Cyclin-dependent kinase 4
CER
Constant exchange rates
CHMP
Committee for Medicinal Products for Human Use (EU)
CI
Confidence interval
CLL
Chronic lymphocytic leukaemia
CN
China
CRSwNP
Chronic rhinosinusitis with nasal polyps
CVRM
Cardiovascular, Renal and Metabolism
EBITDA
Earnings before interest, tax, depreciation and
amortisation
EFS
Event free survival
EGFR /
m
Epidermal growth factor receptor gene /
mutation
EGPA
Eosinophilic granulomatosis with polyangiitis
EM
Emerging Markets
EPS
Earnings per share
ESR1 /
m
Oestrogen Receptor 1 gene / mutation
EVH
Extravascular haemolysis
FDC
Fixed dose combination
FLOT
A treatment regimen: fluorouracil, oxaliplatin and
docetaxel
GAAP
Generally Accepted Accounting Principles
GEJ
Gastro oesophageal junction
GI
Gastrointestinal
gMG
Generalised myasthenia gravis
GU
Genito-urinary
HCC
Hepatocellular carcinoma
HER2
/ +/- /low /m
Human epidermal growth factor receptor 2 / positive / negative /
low expression / gene mutation
HR
/ + /
-
Hormone receptor / positive / negative
HSCT-TMA
Hematopoietic stem cell transplantation-associated thrombotic
microangiopathy
ICS
Inhaled corticosteroid
IHC
Immunohistochemistry
IL-5
Interleukin-5
ISH
In situ hybridisation
JP
Japan
LABA
Long-acting beta-agonist
LDH
Lactic dehydrogenase
LDL-C
Low-density lipoprotein cholesterol
MCL
Mantle cell lymphoma
MIBC
Muscle-invasive bladder cancer
n/m
Growth rate not meaningful
NF1-PN
Neurofibromatosis type 1 with plexiform neurofibromas
NRDL
National reimbursement drug list
NSCLC
Non-small cell lung cancer
OS
Overall survival
PARP
Poly ADP ribose polymerase
pCR
Pathologic complete response
PFS
Progression free survival
PIK3CA
Phosphatidylinositol-4,5-bisphosphate 3-kinase, catalytic subunit
alpha gene
PNH
Paroxysmal nocturnal haemoglobinuria
PTEN
Phosphatase and tensin homologue gene
R&D
Research and development
ROW
Rest of world
SCLC
Small cell lung cancer
SG&A
Sales, general and administration
SGLT2
Sodium-glucose cotransporter 2
SLL
Small lymphocytic lymphoma
THP
A treatment regimen: docetaxel, trastuzumab and
pertuzumab
VBP
Value based procurement
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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AstraZeneca
PLC
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Date:
29 April
2025
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By: /s/
Adrian Kemp
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Name:
Adrian Kemp
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Title:
Company Secretary
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