REG - AstraZeneca PLC - AstraZeneca PLC - H1 2017 Results <Origin Href="QuoteRef">AZN.L</Origin> - Part 3
27/07/2017 07:09
- Part 3: For the preceding part double click ID:nRSa2225Mb
II Q2 2012
AZD0156 ATM inhibitor solid tumours I Q4 2015
AZD2811# Aurora B inhibitor solid tumours I Q4 2015
AZD4635 A2aR inhibitor solid tumours I Q2 2016
AZD4785 KRAS inhibitor solid tumours I Q2 2017
AZD6738 ATR inhibitor solid tumours I Q4 2013
AZD8186 PI3k inhibitor solid tumours I Q2 2013
AZD9150# STAT3 inhibitor haematological malignancies I Q1 2012
AZD9496 selective oestrogen receptor downregulator (SERD) ER+ breast cancer I Q4 2014
MEDI-565# CEA BiTE mAb solid tumours I Q1 2011
MEDI0562# humanised OX40 agonist solid tumours I Q1 2015
MEDI0680 PD-1 mAb solid tumours I Q4 2013
MEDI1873 GITR agonist fusion protein solid tumours I Q4 2015
MEDI3726# PSMA antibody drug conjugate prostate cancer I Q1 2017
MEDI4276 HER2 bi-specific antibody drug conjugate solid tumours I Q4 2015
MEDI5083 immune activator solid tumours I Q1 2017
MEDI7247 antibody drug conjugate haematological malignancies I Q2 2017
MEDI9197# TLR 7/8 agonist solid tumours I Q4 2015
MEDI9447 CD73 mAb solid tumours I Q3 2015
Cardiovascular & Metabolic Diseases
verinurad URAT1 inhibitor chronic kidney disease II Q2 2017
MEDI0382 GLP-1/glucagon dual agonist type-2 diabetes / obesity II Q3 2016
MEDI6012 LCAT cardiovascular II Q4 2015
AZD4831 myeloperoxidase HF with a preserved ejection fraction I Q3 2016
AZD5718 FLAP coronary artery disease I Q1 2016
AZD8601# VEGF-A cardiovascular I Q1 2017
MEDI5884# cholesterol modulation cardiovascular I Q1 2017
MEDI8111 Rh-factor II trauma / bleeding I Q1 2014
Respiratory
abediterol# LABA asthma/chronic obstructive pulmonary disorder II Q4 2007
tezepelumab# TSLP mAb asthma / atopic dermatitis II Q2 2014
AZD1419# inhaled TLR9 agonist asthma II Q4 2016
AZD7594 inhaled SGRM asthma/ chronic obstructive pulmonary disorder II Q3 2015
AZD8871# MABA chronic obstructive pulmonary disease II Q1 2017
PT010 LABA/LAMA/ICS asthma II Q2 2014
AZD0284 RORg psoriasis/respiratory I Q4 2016
AZD5634 inhaled ENaC cystic fibrosis I Q1 2016
AZD7594+abediterol# inhaled SGRM+LABA asthma/chronic obstructive pulmonary disease I Q4 2016
AZD7986# DPP1 chronic obstructive pulmonary disease I Q4 2014
AZD9567 oral SGRM rheumatoid arthritis/respiratory I Q4 2015
AZD9898 LTC4S asthma I Q2 2017
MEDI3506 IL-33 mAb chronic obstructive pulmonary disease I Q2 2017
Other
anifrolumab# IFN-alphaR mAb lupus nephritis II Q4 2015
anifrolumab# IFN-alphaR mAb systemic lupus erythematosus (subcutaneous) II Q1 2017
inebilizumab# CD19 mAb neuromyelitis optica II(Orphan drug US, EU) Q1 2015
mavrilimumab# GM-CSFR mAb rheumatoid arthritis II Q1 2010
MEDI3902 Psl/PcrV bispecific mAb prevention of nosocomial Pseudomonas aeruginosa pneumonia II(Fast Track, US) Q2 2016
MEDI4893 mAb binding to S. aureus toxin prevention of nosocomial Staphylococcus aureuspneumonia II(Fast Track, US) Q4 2014
MEDI5872# B7RP1 mAb primary Sjögren's syndrome II Q3 2015
MEDI8852 influenza A mAb influenza A treatment II(Fast Track, US) Q4 2015
MEDI8897# RSV mAb-YTE passive RSV prophylaxis II(Fast Track, US) Q1 2015
MEDI0700# BAFF/B7RP1 bispecific mAb systemic lupus erythematosus I Q1 2016
MEDI1814# amyloid beta mAb alzheimer's disease I Q2 2014
MEDI4920 anti-CD40L-Tn3 fusion protein primary Sjögren's syndrome I Q2 2014
MEDI7352 NGF/TNF bispecific mAb osteoarthritis pain I Q1 2016
MEDI7734 ILT7 mAb myositis I Q3 2016
MEDI9314 IL-4R mAb atopic dermatitis I Q1 2016
Q3 2016
MEDI9314
IL-4R mAb
atopic dermatitis
I
Q1 2016
# Collaboration
Significant Lifecycle Management
Oncology
FaslodexFALCON oestrogen receptor antagonist 1st-line hormone receptor +ve advanced breast cancer Accepted Approved1 Approved H2 2017
Imfinzi# (durvalumab#)PACIFIC PD-L1 mAb stage III non-small cell lung cancer Q2 2014 H2 2017 H2 2017 H2 2017
Imfinzi# (durvalumab#)PEARL (China) PD-L1 mAb 1st-linenon-small cell lung cancer Q1 2017 2019
Lynparza OlympiAD PARP inhibitor gBRCA metastatic breast cancer Q2 2014 H2 2017 2018 H2 2017 2018
Lynparza PARP inhibitor 2nd-line or greater BRCAm PSR ovarian cancer, maintenance monotherapy Q3 2013 Accepted(Priority Review) Accepted Accepted(Orphan Drug Designation) 2018
SOLO-2
Lynparza PARP inhibitor 1st-line BRCAm ovarian cancer Q3 2013 2018 2018 2018
SOLO-1
Lynparza PARP inhibitor gBRCA PSR ovarian cancer Q1 2015 2018
SOLO-3
Lynparza PARP inhibitor pancreatic cancer Q1 2015 2019 2019
POLO
LynparzaPROfound PARP inhibitor prostate cancer Q1 2017 2020(Breakthrough Therapy) 2020 2020 2020
LynparzaOlympiA PARP inhibitor gBRCA adjuvant breast cancer Q2 2014 2020 2020 2020
Tagrisso FLAURA EGFR inhibitor 1st-line advanced EGFRm non-small cell lung cancer Q1 2015 H2 2017 H2 2017 H2 2017 2018
Tagrisso ADAURA EGFR inhibitor adjuvant EGFRm non-small cell lung cancer Q4 2015 2022 2022 2022 2022
Cardiovascular & Metabolic Diseases
Brilinta2THEMIS P2Y12 receptor antagonist cardiovascular outcomes trial in patients with type-2 diabetes and coronary artery disease without a previous history ofmyocardial infarction or stroke Q1 2014 2019 2019 2019 2020
Brilinta2HESTIA P2Y12 receptor antagonist prevention of vaso-occlusive crises in paediatric patients with sickle cell disease Q1 2014 2020 2020
Kombiglyze XR/Komboglyze3 DPP-4 inhibitor/ metformin FDC type-2 diabetes Launched Launched Approved
Farxiga4 SGLT2 inhibitor cardiovascular outcomes trial in patients with type-2 diabetes Q2 2013 2020 2020
DECLARE-
TIMI 58
Farxiga4 SGLT2 inhibitor type-1 diabetes Q4 2014 2018 2018 2018
Farxiga4 SGLT2 inhibitor worsening heart failure or cardiovascular death in patients with chronic heart failure Q1 2017 2020 2020 2020 2020
Farxiga4 SGLT2 inhibitor renal outcomes and cardiovascularmortality in patients with chronic kidney disease Q1 2017 2021 2021 N/A 2021
Xigduo XR/Xigduo5 SGLT2 inhibitor/ metformin FDC type-2 diabetes Launched Launched 2020
Qtern DPP-4 inhibitor/ SGLT2 inhibitor FDC type-2 diabetes Approved Launched
Bydureon weekly GLP-1 receptor agonist type-2 diabetes Q1 2013 Accepted H2 2017
autoinjector
Bydureon EXSCEL GLP-1 receptor agonist type-2 diabetes outcomes trial Q2 2010 H2 2017 H2 2017 2018
saxagliptin/dapagliflozin metformin DPP-4 inhibitor/ SGLT2 inhibitor type-2 diabetes Q2 2017 2018 2018
EpanovaSTRENGTH omega-3 carboxylic acids cardiovascular outcomes trial in statin-treated patients at high cardiovascular risk, with persistent hypertriglyceridemia plus low HDL-cholesterol Q4 2014 2020 2020 2020 2020
Respiratory
SymbicortSYGMA ICS/LABA as-needed use in mild asthma Q4 2014 2018 2019
Duaklir Genuair# LAMA/LABA chronic obstructive pulmonary disease 2018 Launched 2019
Other
Nexium proton pump inhibitor stress ulcer prophylaxis Accepted
Nexium proton pump inhibitor paediatrics Launched Launched Accepted
linaclotide# GC-C receptor peptide agonist irritable bowel syndrome with constipation Accepted
(IBS-C)
Launched
Launched
Accepted
linaclotide#
GC-C receptor peptide agonist
irritable bowel syndrome with constipation
(IBS-C)
Accepted
# Collaboration
1 Approval received on 26 July 2017
2 Brilinta in the US and Japan; Brilique in ROW
3 Kombiglyze XR in the US; Komboglyze in the EU
4 Farxiga in the US; Forxiga in ROW
5 Xigduo XR in the US; Xigduo in the EU
Terminations (discontinued projects: 1 April 2017 to 30 June 2017)
NME / Line Extension Compound Reason for Discontinuation Area Under Investigation
AZD4076 anti-miR103/107 oligonucleotide Safety/Efficacy non-alcoholic fatty liver disease/non-alcoholic steatohepatitis (NASH)
MEDI4166 PCSK9/GLP-1 mAb + peptide fusion Safety/Efficacy diabetes/cardiovascular
verinurad selective uric acid reabsorption inhibitor (URAT-1) Strategic chronic treatment of hyperuricemia in patients with gout
Completed Projects/Divestitures (1 April 2017 to 30 June 2017)
Compound Mechanism Area Under Investigation Completed/Divested Estimated Regulatory Submission Acceptance
US EU Japan China
Farxiga* SGLT2 inhibitor type-2 diabetes Completed Launched Launched Launched Launched
Imfinzi (durvalumab#) PD-L1 mAb ≥2nd-line advanced bladder cancer Completed Approved, Launched(Breakthrough Therapy & Priority Review) N/A N/A N/A
* Farxiga in the US; Forxiga in ROW
# Collaboration
Condensed Consolidated Statement of Comprehensive Income
Product sales 9,783 11,034
Externalisation revenue 673 684
Total revenue 10,456 11,718
Cost of sales (1,844) (2,066)
Gross profit 8,612 9,652
Distribution costs (149) (167)
Research and development expense (2,802) (2,945)
Selling, general and administrative costs (4,658) (5,624)
Other operating income and expense 839 425
Operating profit 1,842 1,341
Finance income 39 31
Finance expense (781) (667)
Share of after tax losses in associates and joint ventures (26) (12)
Profit before tax 1,074 693
Taxation (116) (99)
Profit for the period 958 594
Other comprehensive income
Items that will not be reclassified to profit or loss
Remeasurement of the defined benefit pension liability (271) (842)
Tax on items that will not be reclassified to profit or loss 71 235
(200) (607)
Items that may be reclassified subsequently to profit or loss
Foreign exchange arising on consolidation 377 (523)
Foreign exchange arising on designating borrowings in net investment hedges 383 (67)
Fair value movements on cash flow hedges 127 (103)
Fair value movements on cash flow hedges transferred to profit or loss (200) 60
Fair value movements on derivatives designated in net investment hedges (35) (79)
Amortisation of loss on cash flow hedge 1 1
Net available for sale losses taken to equity (94) (36)
Tax on items that may be reclassified subsequently to profit or loss (70) 75
489 (672)
Other comprehensive income/(loss) for the period, net of tax 289 (1,279)
Total comprehensive income/(loss) for the period 1,247 (685)
Profit attributable to:
Owners of the Parent 1,014 643
Non-controlling interests (56) (49)
958 594
Total comprehensive income/(loss) attributable to:
Owners of the Parent 1,303 (636)
Non-controlling interests (56) (49)
1,247 (685)
Basic earnings per $0.25 Ordinary Share $0.80 $0.51
Diluted earnings per $0.25 Ordinary Share $0.80 $0.51
Weighted average number of Ordinary Shares in issue (millions) 1,266 1,264
Diluted weighted average number of Ordinary Shares in issue (millions) 1,266 1,265
Diluted weighted average number of Ordinary Shares in issue (millions)
1,266
1,265
Condensed Consolidated Statement of Comprehensive Income
Product sales 4,940 5,469
Externalisation revenue 111 134
Total revenue 5,051 5,603
Cost of sales (950) (1,062)
Gross profit 4,101 4,541
Distribution costs (72) (91)
Research and development expense (1,349) (1,465)
Selling, general and administrative costs (2,358) (3,052)
Other operating income and expense 603 370
Operating profit 925 303
Finance income 28 17
Finance expense (448) (342)
Share of after tax losses in associates and joint ventures (13) (8)
Profit/(loss) before tax 492 (30)
Taxation (46) (1)
Profit/(loss) for the period 446 (31)
Other comprehensive income
Items that will not be reclassified to profit or loss
Remeasurement of the defined benefit pension liability (272) (651)
Tax on items that will not be reclassified to profit or loss 72 194
(200) (457)
Items that may be reclassified subsequently to profit or loss
Foreign exchange arising on consolidation 223 (356)
Foreign exchange arising on designating borrowings in net investment hedges 283 (274)
Fair value movements on cash flow hedges 120 (103)
Fair value movements on cash flow hedges transferred to profit or loss (161) 60
Fair value movements on derivatives designated in net investment hedges (5) (47)
Amortisation of loss on cash flow hedge 1 1
Net available for sale gains/(losses) taken to equity 56 (7)
Tax on items that may be reclassified subsequently to profit or loss (94) 65
423 (661)
Other comprehensive income/(loss) for the period, net of tax 223 (1,118)
Total comprehensive income/(loss) for the period 669 (1,149)
Profit/(loss) attributable to:
Owners of the Parent 477 (3)
Non-controlling interests (31) (28)
446 (31)
Total comprehensive income/(loss) attributable to:
Owners of the Parent 700 (1,121)
Non-controlling interests (31) (28)
669 (1,149)
Basic earnings per $0.25 Ordinary Share $0.38 $0.00
Diluted earnings per $0.25 Ordinary Share $0.38 $0.00
Weighted average number of Ordinary Shares in issue (millions) 1,266 1,265
Diluted weighted average number of Ordinary Shares in issue (millions) 1,267 1,265
Diluted weighted average number of Ordinary Shares in issue (millions)
1,267
1,265
*The Q2 2017 information in respect of the three months ended 30 June 2017 included in the interim financial statements has
not been reviewed by PricewaterhouseCoopers.
Condensed Consolidated Statement of Financial Position
ASSETSNon-current assets
Property, plant and equipment 7,079 6,848 6,613
Goodwill 11,774 11,658 11,783
Intangible assets 27,465 27,586 29,438
Derivative financial instruments 336 343 337
Investments in associates and joint ventures 86 99 105
Other investments 989 727 470
Other receivables 967 901 764
Deferred tax assets 2,125 1,102 1,524
50,821 49,264 51,034
Current assets
Inventories 2,901 2,334 2,422
Trade and other receivables 4,348 4,573 5,634
Other investments 998 884 731
Derivative financial instruments 26 27 5
Income tax receivable 786 426 628
Cash and cash equivalents 5,239 5,018 3,915
14,298 13,262 13,335
Total assets 65,119 62,526 64,369
LIABILITIESCurrent liabilities
Interest-bearing loans and borrowings (2,933) (2,307) (1,060)
Trade and other payables (10,072) (10,486) (10,259)
Derivative financial instruments (6) (18) (57)
Provisions (1,070) (1,065) (999)
Income tax payable (1,576) (1,380) (1,960)
(15,657) (15,256) (14,335)
Non-current liabilities
Interest-bearing loans and borrowings (16,792) (14,501) (16,519)
Derivative financial instruments (3) (117) (103)
Deferred tax liabilities (4,944) (3,956) (4,026)
Retirement benefit obligations (2,534) (2,186) (2,628)
Provisions (406) (353) (426)
Other payables (9,371) (9,488) (10,942)
(34,050) (30,601) (34,644)
Total liabilities (49,707) (45,857) (48,979)
Net assets 15,412 16,669 15,390
EQUITY
Capital and reserves attributable to equity holders of the Company
Share capital 316 316 316
Share premium account 4,374 4,351 4,326
Other reserves 2,033 2,047 2,030
Retained earnings 6,930 8,140 6,858
13,653 14,854 13,530
Non-controlling interests 1,759 1,815 1,860
Total equity 15,412 16,669 15,390
Total equity
15,412
16,669
15,390
*30 June comparatives have been restated to reflect an adjustment to the acquisition-accounting for Acerta Pharma (as
detailed in Note 4 of the Full Year and Fourth Quarter 2016 Results Announcement).
Condensed Consolidated Statement of Cash Flows
Cash flows from operating activities
Profit before tax 1,074 693
Finance income and expense 742 636
Share of after tax losses in associates and joint ventures 26 12
Depreciation, amortisation and impairment 1,274 1,156
Increase in working capital and short-term provisions (1,044) (183)
Non-cash and other movements (1,064) (380)
Cash generated from operations 1,008 1,934
Interest paid (334) (298)
Tax paid (336) (262)
Net cash inflow from operating activities 338 1,374
Cash flows from investing activities
Movement in short-term investments and fixed deposits (112) (15)
Purchase of property, plant and equipment (549) (584)
Disposal of property, plant and equipment 57 8
Purchase of intangible assets (167) (723)
Disposal of intangible assets 728 102
Purchase of non-current asset investments (131) (66)
Disposal of non-current asset investments 14 -
Payments to joint ventures (6) (15)
Upfront payments on business acquisitions - (2,564)
Payment of contingent consideration from business combinations (260) (141)
Interest received 75 63
Payments made by subsidiaries to non-controlling interests - (13)
Net cash outflow from investing activities (351) (3,948)
Net cash outflow before financing activities (13) (2,574)
Cash flows from financing activities
Proceeds from issue of share capital 23 22
Issue of loans 1,992 2,483
Dividends paid (2,368) (2,409)
Hedge contracts relating to dividend payments (32) 5
Repayment of obligations under finance leases (10) (8)
Movement in short-term borrowings 541 (99)
Net cash inflow/(outflow) from financing activities 146 (6)
Net increase/(decrease) in cash and cash equivalents in the period 133 (2,580)
Cash and cash equivalents at the beginning of the period 4,924 6,051
Exchange rate effects (79) 34
Cash and cash equivalents at the end of the period 4,978 3,505
Cash and cash equivalents consists of:
Cash and cash equivalents 5,239 3,915
Overdrafts (261) (410)
4,978 3,505
3,505
Condensed Consolidated Statement of Changes in Equity
Share Share Other Retained Total Non- Total
capital premium reserves* earnings $m controlling equity
$m account $m $m interests $m
$m $m
At 1 Jan 2016 316 4,304 2,036 11,834 18,490 19 18,509
Profit for the period - - - 643 643 (49) 594
Other comprehensive income - - - (1,279) (1,279) - (1,279)
Transfer to other reserves - - (6) 6 - - -
Transactions with owners:
Dividends - - - (2,402) (2,402) - (2,402)
Dividends paid by subsidiary to non-controlling interest - - - - - (13) (13)
Acerta put option - - - (1,825) (1,825) - (1,825)
Changes in non-controlling interest - - - - - 1,903 1,903
Issue of Ordinary Shares - 22 - - 22 - 22
Share-based payments - - - (119) (119) - (119)
Net movement - 22 (6) (4,976) (4,960) 1,841 (3,119)
At 30 Jun 2016 316 4,326 2,030 6,858 13,530 1,860 15,390
Share Share Other Retained Total Non- Total
capital premium reserves* earnings $m controlling equity
$m account $m $m interests $m
$m $m
At 1 Jan 2017 316 4,351 2,047 8,140 14,854 1,815 16,669
Profit for the period - - - 1,014 1,014 (56) 958
Other comprehensive income - - - 289 289 - 289
Transfer to other reserves - - (14) 14 - - -
Transactions with owners:
Dividends - - - (2,404) (2,404) - (2,404)
Issue of Ordinary Shares - 23 - - 23 - 23
Share-based payments - - - (123) (123) - (123)
Net movement - 23 (14) (1,210) (1,201) (56) (1,257)
At 30 Jun 2017 316 4,374 2,033 6,930 13,653 1,759 15,412
* Other reserves include the capital redemption reserve and the merger reserve.
Responsibility Statement of the Directors in Respect of the Half-Yearly Financial Report
We confirm that to the best of our knowledge:
· the condensed set of financial statements has been prepared in accordance with IAS 34 Interim Financial Reporting as
adopted by the European Union and as issued by the International Accounting Standards Board;
· the half-yearly management report includes a fair review of the information required by:
(a) DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication of important events that have occurred during the first six months of the financial year and their impact on the condensed set of financial statements; and a description of the principal risks and uncertainties for the remaining six months of the year; and
(b) DTR 4.2.8R of the Disclosure and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the enterprise during that period; and any changes in the related party transactions described in the last annual report that could do so.
The Board
The Board of Directors that served during all or part of the six-month period to 30 June 2017 and their respective
responsibilities can be found on the Leadership team section of astrazeneca.com.
Approved by the Board and signed on its behalf by
Pascal Soriot
Chief Executive Officer
27 July 2017
Independent Review Report to AstraZeneca PLC
Report on the condensed consolidated interim financial statements
Our conclusion
We have reviewed AstraZeneca PLC's condensed consolidated interim financial statements (the "interim financial statements")
in the half-yearly financial report of AstraZeneca PLC for the 6 month period ended 30 June 2017. Based on our review,
nothing has come to our attention that causes us to believe that the interim financial statements are not prepared, in all
material respects, in accordance with International Accounting Standard 34, 'Interim Financial Reporting', as adopted by
the European Union and the Disclosure Guidance and Transparency Rules sourcebook of the United Kingdom's Financial Conduct
Authority.
What we have reviewed
The interim financial statements comprise:
· the Condensed Consolidated Statement of Financial Position as at 30 June 2017;
· the Condensed Consolidated Statement of Comprehensive Income for the period then ended;
· the Condensed Consolidated Statement of Cash Flows for the period then ended;
· the Condensed Consolidated Statement of Changes in Equity for the period then ended; and
· the explanatory notes to the interim financial statements.
The interim financial statements included in the half-yearly financial report have been prepared in accordance with
International Accounting Standard 34, 'Interim Financial Reporting', as adopted by the European Union and the Disclosure
Guidance and Transparency Rules sourcebook of the United Kingdom's Financial Conduct Authority.
As disclosed in note 1 to the interim financial statements, the financial reporting framework that has been applied in the
preparation of the full annual financial statements of the Group is applicable law and International Financial Reporting
Standards (IFRSs) as adopted by the European Union.
Responsibilities for the interim financial statements and the review
Our responsibilities and those of the directors
The half-yearly financial report, including the interim financial statements, is the responsibility of, and has been
approved by, the directors. The directors are responsible for preparing the half-yearly financial report in accordance with
the Disclosure Guidance and Transparency Rules sourcebook of the United Kingdom's Financial Conduct Authority.
Our responsibility is to express a conclusion on the interim financial statements in the half-yearly financial report based
on our review. This report, including the conclusion, has been prepared for and only for the company for the purpose of
complying with the Disclosure Guidance and Transparency Rules sourcebook of the United Kingdom's Financial Conduct
Authority and for no other purpose. We do not, in giving this conclusion, accept or assume responsibility for any other
purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by
our prior consent in writing.
What a review of interim financial statements involves
We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410, 'Review of
Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Auditing Practices Board
for use in the United Kingdom. A review of interim financial information consists of making enquiries, primarily of persons
responsible for financial and accounting matters, and applying analytical and other review procedures.
A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK
and Ireland) and, consequently, does not enable us to obtain assurance that we would become aware of all significant
matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We have read the other information contained in the half-yearly financial report and considered whether it contains any
apparent misstatements or material inconsistencies with the information in the interim financial statements.
PricewaterhouseCoopers LLP
Chartered Accountants
London
27 July 2017
a) The maintenance and integrity of the AstraZeneca PLC website is the responsibility of the directors; the work carried
out by the auditors does not involve consideration of these matters and, accordingly, the auditors accept no responsibility
for any changes that may have occurred to the interim financial statements since they were initially presented on the
website.
b) Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from
legislation in other jurisdictions.
Notes to the Interim Financial Statements
1 BASIS OF PREPARATION AND ACCOUNTING POLICIES
These unaudited condensed consolidated interim financial statements (interim financial statements) for the six months ended
30 June 2017 have been prepared in accordance with IAS 34 Interim Financial Reporting as adopted by the European Union (EU)
and as issued by the International Accounting Standards Board (IASB).
The annual financial statements of the Group are prepared
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