REG - AstraZeneca PLC - AstraZeneca PLC - H1 2017 Results <Origin Href="QuoteRef">AZN.L</Origin> - Part 4
27/07/2017 07:09
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in accordance with International Financial Reporting Standards
(IFRSs) as adopted by the EU and as issued by the IASB. The interim financial statements have been prepared applying the
accounting policies and presentation that were applied in the preparation of the Group's published consolidated financial
statements for the year ended 31 December 2016. There have been no significant new or revised accounting standards applied
in the six months ended 30 June 2017.
We have revised the balance sheet presentation of deferred tax with effect from 1 January 2017 with no impact upon net
deferred tax, balance sheet net assets, the cashflow statement or the income statement. This presentation change, which is
not considered material under IAS 8, has resulted in us showing gross, rather than net, deferred tax assets and deferred
tax liabilities of a group entity. This change has been made as that entity has transactions that are subject to tax by two
different taxation authorities and has the effect of separately disclosing the deferred tax effects for each country. The
comparative balance sheet has not been revised for this presentational change. If the 31 December 2016 and 30 June 2016
balances were presented in a comparable way the deferred tax assets would have been $2,093m and $2,249m, respectively. The
deferred tax liabilities would have been $4,947m and $4,751m, respectively.
As disclosed in our 2016 Annual Report on Page 181, the Group has entered into a number of financial derivative
transactions with commercial banks. The Group has agreement with some bank counterparties whereby the parties agree to post
cash collateral, for the benefit of the other, equivalent to the market valuation of the derivative positions above a
predetermined threshold. We have revised the balance sheet presentation of these collateral balances with effect from the 1
January 2017, so that the cash collateral is included in Cash and cash equivalents, with an offsetting liability presented
in Current Interest-bearing loans and borrowings. This revision has no impact on our balance sheet net assets, or the
income statement. If the 31 December 2016 and 30 June 2016 balances were presented in a comparable way the Cash and cash
equivalents balance would have been $5,260m and $4,083m, respectively. Current Interest-bearing loans and borrowings would
have been $2,549m and $1,228m, respectively.
Legal proceedings
The information contained in Note 5 updates the disclosures concerning legal proceedings and contingent liabilities in the
Group's Annual Report and Form 20-F Information 2016.
Going concern
The Group has considerable financial resources available. As at 30 June 2017 the Group has $5.3bn in financial resources
(cash balances of $5.2bn and undrawn committed bank facilities of $3bn which are available until April 2022, with only
$2.9bn of debt due within one year). The Group's revenues are largely derived from sales of products which are covered by
patents which provide a relatively high level of resilience and predictability to cash inflows, although our revenue is
expected to continue to be significantly impacted by the expiry of patents over the medium term. In addition, government
price interventions in response to budgetary constraints are expected to continue to adversely affect revenues in many of
our mature markets. However, we anticipate new revenue streams from both recently launched medicines and products 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.
On the basis of the above paragraph and after making enquiries, the going concern basis has been adopted in these interim
financial statements.
Financial information
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 full group accounts for 2016 were published in the Annual Report 2016, which has been
delivered to the registrar of companies. The report of the auditors, KPMG LLP, 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.
2 RESTRUCTURING COSTS
Profit before tax for the half year ended 30 June 2017 is stated after charging restructuring costs of $496m ($463m for the
half year ended 30 June 2016). These have been charged to profit as follows:
H1 2017 H1 2016 Unreviewed*Q2 2017 Q2 2016
$m $m $m $m
Cost of sales 81 28 43 19
Research and development expense 142 107 38 69
Selling, general and administrative costs 197 328 103 220
Other operating income and expense 76 - - -
Total 496 463 184 308
*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.
3 NET DEBT
The table below 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 26 of the Annual Report and Form
20-F Information 2016.
At 1 Jan 2017 $m Cash Flow$m Non-cash& Other$m Exchange Movements$m At 30 Jun 2017 $m
Loans due after one year (14,495) (1,992) (11) (294) (16,792)
Finance leases due after one year (6) - 6 - -
Total long-term debt (14,501) (1,992) (5) (294) (16,792)
Current instalments of loans (1,769) - 13 - (1,756)
Current instalments of finance leases (87) 10 60 (1) (18)
Total current debt (1,856) 10 73 (1) (1,774)
Other investments - current 884 112 - 2 998
Other investments - non-current 14 109 - - 123
Net derivative financial instruments 235 32 86 - 353
Cash and cash equivalents 5,018 298 - (77) 5,239
Overdrafts (94) (165) - (2) (261)
Short-term borrowings (357) (541) - - (898)
5,700 (155) 86 (77) 5,554
Net debt (10,657) (2,137) 154 (372) (13,012)
Non-cash movements in the period include fair value adjustments under IAS 39.
4 FINANCIAL INSTRUMENTS
As detailed in the Group's most recent annual financial statements, our principal financial instruments consist of
derivative financial instruments, other investments, trade and other receivables, cash and cash equivalents, trade and
other payables, and interest-bearing loans and borrowings. As indicated in Note 1, there have been no changes to the
accounting policies for financial instruments, including fair value measurement, from those disclosed on pages 144 and 145
of the Company's Annual Report and Form 20-F Information 2016. In addition, there have been no changes of significance to
the categorisation or fair value hierarchy of our financial instruments. Financial instruments measured at fair value
include $731m of other investments, $2,012m of loans, and $353m of derivatives as at 30 June 2017. The total fair value of
interest-bearing loans and borrowings at 30 June 2017, which have a carrying value of $19,725m in the Condensed
Consolidated Statement of Financial Position, was $19,536m. Contingent consideration liabilities arising on business
combinations have been classified under Level 3 in the fair value hierarchy and movements in fair value are shown below:
DiabetesAlliance2017 Other 2017 Total 2017 Total 2016
$m $m $m $m
At 1 January 4,240 1,217 5,457 6,411
Settlements (185) (75) (260) (141)
Revaluations (71) - (71) 160
Discount unwind 164 41 205 248
At 30 June 4,148 1,183 5,331 6,678
5 LEGAL PROCEEDINGS AND CONTINGENT LIABILITIES
AstraZeneca is involved in various legal proceedings considered typical to its business, including litigation and
investigations relating to product liability, commercial disputes, infringement of intellectual property 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 the Company's Annual
Report and Form 20-F Information 2016 and the interim financial statements for the three months ended 31 March 2017 (the
Disclosures). Unless noted otherwise below or in the Disclosures, no provisions have been established in respect of the
claims discussed below.
As discussed in the Disclosures, for the majority of claims in which AstraZeneca is involved it is not possible to make a
reasonable estimate of the expected financial effect, if any, that will result from ultimate resolution of the proceedings.
In these cases, AstraZeneca discloses information with respect only to the nature and facts of the cases but no provision
is made.
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, we record the
loss absorbed or make a provision for our best estimate of the expected loss.
The position could change over time and the estimates that we have made and upon which we 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 intellectual property.
Matters disclosed in respect of the second quarter of 2017 and to 27 July 2017.
Patent litigation
Tagrisso(osimertinib)
Patent proceedings outside the US
As previously disclosed, in Europe, in October 2016, Stada Arzneimittel AG filed an opposition to the grant of European
Patent No. 2,736,895. The European Patent Office Opposition Hearing is scheduled for January 2018.
Faslodex(fulvestrant)
US patent proceedings
As previously disclosed, AstraZeneca has filed patent infringement lawsuits in the US District Court in New Jersey relating
to patents listed in the FDA Orange Book with reference to Faslodex after AstraZeneca received notice of ANDAs seeking FDA
approval to market generic versions of Faslodex prior to the expiration of AstraZeneca's patents. As previously disclosed,
AstraZeneca has resolved the lawsuits with five of the ANDA filers. In July 2017, AstraZeneca resolved the lawsuit with a
sixth ANDA filer.
Patent proceedings outside the US
As previously disclosed, in Germany, in January 2017, the Federal Patent Court declared European Patent No. EP 1,250,138
invalid at an oral hearing. AstraZeneca formally appealed the decision in June 2017.
In May 2017, at an oral hearing, the Opposition Division of the European Patent Office revoked a Faslodex divisional
application for European Patent No. EP 2,266,573 for lack of inventive step. Oppositions against the grant of the patent
had been filed by five opponents. AstraZeneca appealed in July 2017.
As previously disclosed, in Brazil, in February 2013, Eurofarma Laboratorios S.A. (Eurofarma) filed a nullity action
against a formulation patent for Faslodex. In October 2015, the 31st Specialized Intellectual Property (IP) Federal Court
of Rio de Janeiro invalidated AstraZeneca's patent. In July 2017, the 1st Specialized IP Panel of the Rio Federal Court of
Appeals rejected AstraZeneca's appeal against this decision. AstraZeneca is considering further options for appeal.
Crestor(rosuvastatin calcium)
Patent proceedings outside the US
In Spain, in March 2017, AstraZeneca received an interim injunction from the Commercial Courts of Barcelona against the
launch of ratiopharm España, S.A.'s rosuvastatin zinc product. In March 2017, AstraZeneca also initiated main infringement
proceedings before the same court. On 14 July 2017, the Barcelona court lifted the interim injunction. AstraZeneca will
appeal. The main infringement proceedings are ongoing.
Pulmicort Respules (budesonide inhalation suspension)
US patent proceedings
As previously disclosed, in the US, in February 2015, the US District Court for the District of New Jersey (the District
Court) determined that the asserted claims of US Patent No. 7,524,834 were invalid and denied AstraZeneca's motion for an
injunction against Apotex, Inc. and Apotex Corp., Breath Limited, Sandoz, Inc. and Watson Laboratories, Inc. (together, the
Generic Challengers) pending an appeal of the District Court's decision. AstraZeneca appealed that decision to the US Court
of Appeals for the Federal Circuit (the Court of Appeals) and filed an Emergency Motion for an Injunction Pending Appeal.
The Court of Appeals granted AstraZeneca's motion and issued an injunction against the Generic Challengers pending appeal.
In May 2015, the Court of Appeals affirmed the District Court's decision and lifted the injunction that was issued. Since
2009, various injunctions were issued in this matter. Damages claims based on those injunctions have been filed and a
provision has been taken.
Nexium(esomeprazole magnesium)
Patent proceedings outside the US
As previously disclosed, in Canada, in July 2014, the Federal Court found the Nexium substance patent (Canadian Patent No.
2,139,653 (the '653 Patent)) invalid and not infringed by Apotex Inc. In July 2015, AstraZeneca's appeal was dismissed.
AstraZeneca was granted leave to appeal to the Supreme Court of Canada (the Supreme Court) and a hearing was held in
November 2016. In June 2017, the Supreme Court granted AstraZeneca's appeal and found the '653 Patent valid. AstraZeneca is
considering its next steps.
Synagis(palivizumab)
US patent proceedings
As previously disclosed, in March 2017, MedImmune LLC was served with a complaint filed by UCB BioPharma SPRL in the US
District Court for the District of Delaware (the District Court) alleging that Synagis infringed US Patent No. 7,566,771.
In May 2017, the District Court granted the parties' joint stipulation to voluntarily terminate the litigation.
Product liability litigation
Bydureon/Byetta(exenatide)
As previously disclosed, Amylin Pharmaceuticals, LLC, a wholly owned subsidiary of AstraZeneca, and/or AstraZeneca are
among multiple defendants in various lawsuits filed in federal and state courts in the US involving claims of physical
injury from treatment with Byetta and/or Bydureon. The lawsuits allege several types of injuries including pancreatitis,
pancreatic cancer, thyroid cancer, and kidney cancer. A multi-district litigation has been established in the US District
Court for the Southern District of California (the District Court) in regard to the alleged pancreatic cancer cases in
federal courts. Further, a coordinated proceeding has been established in Los Angeles, California in regard to the various
lawsuits in California state courts.
In November 2015, the District Court granted the defendants' motion for summary judgment and dismissed all claims alleging
pancreatic cancer that accrued prior to 11 September 2015. A similar motion was granted in favour of the defendants in the
California state coordinated proceeding, and judgment was entered in May 2016. The plaintiffs have appealed both rulings,
and oral argument before the US Court of Appeals for the Ninth Circuit is scheduled for October 2017.
Nexium (esomeprazole) and Prilosec (omeprazole)
As previously disclosed, in the US, AstraZeneca is defending various lawsuits involving multiple plaintiffs claiming that
they have been diagnosed with kidney injuries following treatment with proton pump inhibitors, including Nexium and
Prilosec. In February 2017, the Judicial Panel on Multidistrict Litigation (JPML) denied a motion brought by counsel for
some of these plaintiffs seeking to transfer any currently pending federal court cases as well as any similar, subsequently
filed cases to a coordinated and consolidated pre-trial multidistrict litigation (MDL) proceeding. In May 2017, counsel for
a different group of plaintiffs filed a new motion with the JPML seeking the transfer of any currently pending federal
court cases as well as any similar, subsequently filed cases to a coordinated and consolidated pre-trial MDL proceeding.
Commercial litigation
Amplimmune
In the US, in June 2017, AstraZeneca was served with a lawsuit filed by the stockholders' agents for Amplimmune, Inc.
(Amplimmune) in Delaware State Court that alleges, among other things, breaches of contractual obligations relating to a
2013 merger agreement between AstraZeneca and Amplimmune.
Government investigations/proceedings
Synagis(palivizumab)
Qui tam litigation in New York
In June 2017, AstraZeneca was served with a lawsuit in US Federal Court in New York by a Relator under the qui tam
(whistleblower) provisions of the federal and certain state False Claims Acts. The lawsuit was originally filed under seal
in April 2009 and alleges that MedImmune made false claims about Synagis. As previously disclosed, in March 2017, the
Office of the Attorney General for the State of New York had filed a Complaint in Intervention in this matter.
SeroquelIR (quetiapine fumarate) and SeroquelXR (quetiapine fumarate)
Texas Attorney General litigation
As previously disclosed, in the US, in October 2014, following a previously disclosed investigation by the State of Texas
(the State) into AstraZeneca's sales and marketing activities involving Seroquel, the Texas Attorney General's Office
intervened in a State whistleblower action pending in Travis County Court, Texas (the County Court). The lawsuit alleges
that AstraZeneca engaged in inappropriate promotion of Seroquel and made improper payments intended to influence the
formulary status of Seroquel. The relief that the State seeks to recover from AstraZeneca includes trebled civil remedies,
penalties, interest, and attorneys' fees pursuant to the Texas Medicaid Fraud Prevention Act and damages pursuant to Texas
common law. In June 2017, the Court entered an order denying all of the State's motions for summary judgment except for the
State's motion on the defence of waiver, and denying AstraZeneca's motion for summary judgment. Trial is scheduled for
October 2017.
6 SUBSEQUENT EVENTS
On 27 July 2017, the Company disclosed subsequent events separately. These disclosures should be read in conjunction with
the Interim Financial Statements.
7 product analysis - H1 2017
The table below provides an analysis of year-on-year Product Sales, with Actual and CER growth rates reflecting
year-on-year growth.
World Emerging Markets US Europe Established ROW
H1 2017$m Actual% CER% H1 2017$m Actual% CER H1 2017$m Actual% H1 2017$m Actual% CER% H1 2017$m Actual% CER%
%
Oncology
Tagrisso 403 n/m n/m 40 n/m n/m 180 75 76 n/m n/m 107 n/m n/m
Iressa 261 (3) (3) 129 (4) (1) 17 70 54 (11) (11) 61 (6) (8)
Lynparza 116 18 20 5 25 75 50 (19) 58 81 81 3 n/m n/m
Imfinzi 1 n/m n/m - - - 1 n/m - - - - - -
Legacy:
Faslodex 462 15 16 54 15 9 241 14 133 18 22 34 13 13
Zoladex 363 (5) (4) 168 10 11 14 (26) 67 (16) (11) 114 (12) (14)
Casodex 110 (12) (10) 56 4 9 - n/m 11 (15) (15) 43 (23) (23)
Arimidex 106 (11) (8) 57 2 7 3 (70) 17 (6) (6) 29 (17) (17)
Others 56 17 17 13 - - - - 3 - - 40 25 25
Total Oncology 1,878 18 20 522 13 15 506 21 419 21 25 431 19 18
CVMD
Brilinta 496 26 28 121 33 36 215 35 135 8 13 25 25 25
Farxiga 457 22 22 100 89 83 206 (1) 105 18 24 46 84 84
Onglyza 304 (24) (24) 63 (21) (21) 159 (25) 52 (29) (27) 30 (19) (19)
Bydureon 299 3 3 5 n/m n/m 243 4 42 (16) (14) 9 80 80
Byetta 89 (36) (35) 5 (64) (64) 58 (35) 18 (28) (24) 8 (20) (20)
Symlin 25 56 56 - - - 25 56 - - - - - -
Legacy:
Crestor 1,191 (43) (42) 389 10 14 153 (85) 362 (17) (15) 287 - (1)
Seloken/Toprol-XL 367 (2) 1 289 6 10 30 (43) 42 (5) (2) 6 20 20
Atacand 147 (9) (7) 85 5 7 12 (43) 42 (14) (12) 8 (20) (20)
Others 179 (20) (17) 110 (19) (13) - - 49 (23) (23) 20 (20) (20)
Total CVMD 3,554 (20) (19) 1,167 8 11 1,101 (45) 847 (11) (9) 439 4 3
Respiratory
Symbicort 1,383 (11) (10) 213 2 4 554 (19) 399 (14) (10) 217 11 9
Pulmicort 563 3 7 396 13 19 78 (26) 48 (11) (9) 41 3 3
Daliresp/Daxas 92 30 30 3 n/m n/m 79 20 9 n/m n/m 1 n/m n/m
Tudorza/Eklira 71 (18) (16) - n/m n/m 29 (29) 38 (7) (5) 4 - -
Duaklir 35 17 23 - n/m n/m - - 34 21 29 1 - -
Bevespi 4 n/m n/m - - - 4 n/m - - - - - -
Others 132 (8) (6) 47 (34) (30) 2 (71) 61 22 24 22 38 38
Total Respiratory 2,280 (6) (4) 659 4 9 746 (17) 589 (8) (5) 286 11 10
Other
Nexium 1,056 3 4 344 (6) (2) 339 15 120 (6) (3) 253 7 5
Synagis 300 11 11 - - - 167 2 133 23 23 - - -
Losec/Prilosec 136 (6) (3) 70 (3) 1 8 60 38 (7) (5) 20 (26) (26)
Seroquel XR 162 (62) (62) 32 (9) (6) 77 (75) 43 (43) (43) 10 - -
Movantik/Moventig 62 55 55 - - - 62 55 - - - - - -
FluMist/Fluenz - n/m n/m - - - - n/m - - - - - -
Others 355 (44) (44) 210 (20) (24) 7 (91) 83 (52) (44) 55 (57) (60)
Total Other 2,071 (19) (18) 656 (11) (10) 660 (26) 417 (20) (17) 338 (16) (18)
TOTAL PRODUCT SALES 9,783 (11) (10) 3,004 3 6 3,013 (28) 2,272 (8) (5) 1,494 3 2
8 product analysis - Q2 2017 (Unreviewed*)
The table below provides an analysis of year-on-year Product Sales, with Actual and CER growth rates reflecting
year-on-year growth.
World Emerging Markets US Europe Established ROW
Q2 2017$m Actual% CER% Q2 2017$m Actual% CER Q2 2017$m Actual% Q2 2017$m Actual% CER% Q2 2017$m Actual% CER%
%
Oncology
Tagrisso 232 n/m n/m 34 n/m n/m 90 55 41 n/m n/m 67 n/m n/m
Iressa 137 1 2 68 1 4 9 50 28 4 4 32 (9) (11)
Lynparza 59 9 11 1 (50) - 23 (32) 33 83 83 2 n/m n/m
Imfinzi 1 n/m n/m - - - 1 n/m - - - - - -
Legacy:
Faslodex 248 18 18 27 4 (4) 123 10 79 39 46 19 19 19
Zoladex 178 (13) (12) 81 (6) (5) 6 (33) 35 (15) (10) 56 (18) (19)
Casodex 54 (14) (11) 26 4 12 - n/m 5 (17) (17) 23 (23) (23)
Arimidex 54 (13) (10) 28 4 11 2 (67) 9 (10) (10) 15 (21) (21)
Others 30 11 11 6 - - - - 2 - - 22 16 16
Total Oncology 993 17 19 271 13 15 254 12 232 30 35 236 17 16
CVMD
Brilinta 272 27 29 61 22 22 128 44 70 8 14 13 30 30
Farxiga 250 18 20 58 81 78 110 (4) 55 15 23 27 69 69
Onglyza 150 (21) (21) 33 (25) (25) 78 (11) 25 (38) (35) 14 (26) (26)
Bydureon 146 (6) (6) 4 n/m n/m 116 (8) 20 (26) (22) 6 n/m n/m
Byetta 43 (43) (43) - n/m n/m 28 (40) 10 (33) (27) 5 - -
Symlin 11 - - - - - 11 - - - - - - -
Legacy:
Crestor 560 (40) (38) 187 9 13 41 (89) 167 (26) (24) 165 2 2
Seloken/Toprol-XL 181 (4) (1) 137 4 8 19 (41) 21 (5) - 4 33 33
Atacand 72 (19) (18) 41 (11) (11) 6 (50) 21 (16) (12) 4 (33) (33)
Others 90 (13) (9) 52 (4) 6 - - 26 (24) (24) 12 (25) (25)
Total CVMD 1,775 (18) (17) 573 7 9 537 (40) 415 (17) (14) 250 5 4
Respiratory
Symbicort 706 (12) (11) 101 (3) (2) 299 (17) 199 (15) (11) 107 2 3
Pulmicort 226 (5) (3) 146 3 8 37 (26) 22 (12) (12) 21 (5) (5)
Daliresp/Daxas 48 20 20 2 n/m n/m 41 17 4 - - 1 n/m n/m
Tudorza/Eklira 34 (29) (27) - n/m n/m 14 (42) 18 (10) (10) 2 (33) (33)
Duaklir 16 (6) - - n/m n/m - - 15 (6) 6 1 - -
Bevespi 3 n/m n/m - - - 3 n/m - - - - - -
Others 66 (18) (15) 20 (42) (39) - n/m 33 10 13 13 - -
Total Respiratory 1,099 (10) (9) 269 (5) (1) 394 (16) 291 (12) (8) 145 1 1
Other
Nexium 595 6 7 169 (11) (8) 203 25 59 (12) (9) 164 15 15
Synagis 70 n/m n/m - - - 10 n/m 60 n/m n/m - - -
Losec/Prilosec 68 (3) - 35 6 9 3 - 20 - 5 10 (29) (29)
Seroquel XR 95 (58) (58) 17 - - 53 (67) 21 (49) (49) 4 (20) (20)
Movantik/Moventig 32 39 39 - - - 32 39 - - - - - -
FluMist/Fluenz - n/m n/m - - - - n/m - - - - - -
Others 213 (32) (31) 108 (27) (24) 42 n/m 45 (48) (56) 18 (71) (65)
Total Other 1,073 (13) (12) 329 (15) (12) 343 (9) 205 (14) (16) 196 (13) (11)
TOTAL PRODUCT SALES 4,940 (10) (8) 1,442 - 2 1,528 (22) 1,143 (8) (6) 827 2 2
*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.
9 QUARTERLY PRODUCT SALES - 2017 (Unreviewed*)
The table below provides an analysis of sequential quarterly Product Sales with Actual and CER growth rates reflecting
quarter-on-quarter growth.
Q1 2017$m Actual% CER% Q2 2017$m Actual% CER
%
Oncology
Tagrisso 171 16 19 232 36 34
Iressa 124 5 8 137 10 9
Lynparza 57 (8) (6) 59 4 2
Imfinzi - - - 1 n/m n/m
Legacy:
Faslodex 214 (4) (3) 248 16 15
Zoladex 185 (21) (12) 178 (4) (5)
Casodex 56 (7) (2) 54 (4) (3)
Arimidex 52 (9) (7) 54 4 4
Others 26 (10) (3) 30 15 7
Total Oncology 885 (5) - 993 12 11
CVMD
Brilinta 224 (5) (4) 272 21 20
Farxiga 207 (13) (13) 250 21 20
Onglyza 154 3 3 150 (3) (3)
Bydureon 153 8 8 146 (5) (5)
Byetta 46 (16) (16) 43 (7) (7)
Symlin 14 - - 11 (21) (21)
Legacy:
Crestor 631 - 3 560 (11) (12)
Seloken/Toprol-XL 186 4 6 181 (3) (4)
Atacand 75 (7) (6) 72 (4) (5)
Others 89 3 12 90 1 (3)
Total CVMD 1,779 (2) - 1,775 - (1)
Respiratory
Symbicort 677 (9) (7) 706 4 3
Pulmicort 337 17 19 226 (33) (33)
Daliresp/Daxas 44 7 10 48 9 9
Tudorza/Eklira 37 3 6 34 (8) (8)
Duaklir 19 - - 16 (16) (15)
Bevespi 1 (67) (50) 3 n/m n/m
Others 66 (20) (19) 66 - (4)
Total Respiratory 1,181 (2) (1) 1,099 (7) (8)
Other
Nexium 461 (6) (4) 595 29 28
Synagis 230 (24) (24) 70 (70) (70)
Losec/Prilosec 68 15 18 68 - (3)
Seroquel XR 67 (43) (42) 95 42 38
Movantik/Moventig 30 15 15 32 7 7
FluMist/Fluenz - n/m n/m - - -
Others 142 (42) (41) 213 50 51
Total Other 998 (24) (22) 1,073 8 7
TOTAL PRODUCT SALES 4,843 (8) (6) 4,940 2 1
The Q2 2017 information in respect of the three months ended 30 June 2017 included in the interim financial statements has
not been reviewed by PricewaterhouseCoopers.
10 QUARTERLY PRODUCT SALES - 2016
The table below provides an analysis of sequential quarterly Product Sales, with Actual and CER growth rates reflecting
quarter-on-quarter growth.
Q1 2016$m Actual% CER% Q2 2016$m Actual% CER Q3 2016$m Actual% CER% Q4 2016$m Actual% CER%
%
Oncology
Tagrisso 51 183 200 92 80 82 133 45 44 147 11 11
Iressa 135 5 5 135 - (2) 125 (7) (8) 118 (6) (4)
Lynparza 44 22 22 54 23 23 58 7 7 62 7 9
Imfinzi - - - - - - - - - - - -
Legacy:
Faslodex 190 3 3 211 11 9 207 (2) (2) 222 7 9
Zoladex 178 (10) (8) 204 15 8 199 (2) (2) 235 18 11
Casodex 62 (2) (6) 63 2 - 62 (2) (5) 60 (3) (2)
Arimidex 57 (5) (5) 62 9 7 56 (10) (13) 57 2 5
Others 21 (22) (22) 27 29 12 27 - 4 29 7 -
Total Oncology 738 3 3 848 15 12 867 2 2 930 7 7
CVMD
Brilinta 181 4 5 214 18 16 208 (3) (2) 236 13 15
Farxiga 165 9 10 211 28 26 220 4 4 239 9 9
Onglyza 211 10 12 191 (9) (11) 169 (12) (11) 149 (12) (11)
Bydureon 135 (13) (16) 156 16 14 145 (7) (6) 142 (2) (1)
Byetta 62 (14) (14) 76 23 21 61 (20) (19) 55 (10) (10)
Symlin 5 (64) (64) 10 n/m n/m 11 10 10 14 27 27
Legacy:
Crestor 1,156 (13) (13) 926 (20) (21) 688 (26) (26) 631 (8) (7)
Seloken/Toprol-XL 185 16 11 189 2 - 185 (2) (2) 178 (4) (2)
Atacand 71 (17) (15) 89 25 22 74 (17) (19) 81 9 14
Others 121 (9) (16) 106 (12) (11) 84 (21) (19) 86 2 -
Total CVMD 2,292 (7) (7) 2,168 (5) (7) 1,845 (15) (15) 1,811 (2) (1)
Respiratory
Symbicort 749 (13) (12) 803 7 6 697 (13) (13) 740 6 8
Pulmicort 310 13 14 239 (23) (23) 224 (6) (6) 288 29 31
Daliresp/Daxas 31 (3) (3) 40 29 29 42 5 5 41 (2) (2)
Tudorza/Eklira 39 (17) (17) 48 23 21 47 (2) - 36 (23) (23)
Duaklir 13 8 8 17 31 31 14 (18) (18) 19 36 43
Bevespi - - - - - - - - - 3 n/m n/m
Others 65 - (3) 79 22 18 86 9 12 83 (3) 1
Total Respiratory 1,207 (6) (6) 1,226 2 1 1,110 (9) (9) 1,210 9 10
Other
Nexium 463 (18) (18) 562 21 20 516 (8) (9) 491 (5) (4)
Synagis 244 (11) (11) 27 (89) (89) 104 n/m n/m 302 n/m n/m
Losec/Prilosec 75 (3) (4) 70 (7) (9) 72 3 4 59 (18) (17)
Seroquel XR 202 (16) (16) 225 11 11 190 (16) (16) 118 (38) (37)
Movantik/Moventig 17 13 13 23 35 35 25 9 9 26 4 4
FluMist/Fluenz 5 (97) (97) 6 20 20 26 n/m n/m 67 n/m n/m
Others 322 (15) (7) 314 (2) (4) 270 (14) (16) 246 (9) (8)
Total Other 1,328 (24) (22) 1,227 (8) (9) 1,203 (2) (3) 1,309 9 10
TOTAL PRODUCT SALES 5,565 (10) (10) 5,469 (2) (3) 5,025 (8) (8) 5,260 5 6
11 QUARTERLY PRODUCT SALES - 2015
The table below provides an analysis of sequential quarterly Product Sales, with Actual and CER growth rates reflecting
quarter-on-quarter growth.
Q1 2015$m Actual% CER% Q2 2015$m Actual% CER Q3 2015$m Actual% CER% Q4 2015$m Actual% CER%
%
Oncology
Tagrisso - - - - - - - - - 18 n/m n/m
Iressa 144 (4) - 129 (10) (8) 141 9 10 129 (9) (7)
Lynparza 9 n/m n/m 21 133 133 28 33 33 36 29 29
Imfinzi - - - - - - - - - - - -
Legacy:
Faslodex 161 (12) (6) 172 7 8 186 8 8 185 (1) 1
Zoladex 194 (15) (9) 215 11 11 209 (3) - 198 (5) (2)
Casodex 70 (5) 1 69 (1) - 65 (6) (4) 63 (3) (1)
Arimidex 62 (9) (5) 64 3 7 64 - - 60 (6) (5)
Others 34 (13) (10) 37 9 9 35 (5) - 27 (23) (16)
Total Oncology 674 (9) (4) 707 5 6 728 3 5 716 (2) -
CVMD
Brilinta 131 (2) 3 144 10 13 170 18 19 174 2 4
Farxiga 76 (19) (18) 129 70 75 135 5 5 152 13 14
Onglyza 183 (9) (5) 208 14 15 203 (2) (2) 192 (5) (5)
Bydureon 123 - 8 140 14 11 162 16 13 155 (4) (1)
Byetta 90 30 35 82 (9) (9) 72 (12) (12) 72 - 1
Symlin 16 60 60 13 (19) (19) 5 (62) (62) 14 n/m n/m
Legacy:
Crestor 1,167 (16) (13) 1,310 12 14 1,218 (7) (7) 1,322 9 9
Seloken/Toprol-XL 194 11 22 184 (5) (4) 172 (7) (3) 160 (7) -
Atacand 95 (19) (11) 99 4 9 78 (21) (19) 86 10 13
Others 155 (7) 7 143 (8) (7) 132 (8) (7) 133 1 4
Total CVMD 2,230 (10) (6) 2,452 10 12 2,347 (4) (4) 2,460 5 7
Respiratory
Symbicort 845 (14) (9) 842 - 2 848 1 1 859 1 3
Pulmicort 286 6 11 232 (19) (17) 222 (4) (6) 274 23 26
Daliresp/Daxas 7 n/m n/m 32 n/m n/m 33 3 3 32 (3) (3)
Tudorza/Eklira 30 n/m n/m 55 83 90 58 5 5 47 (19) (19)
Duaklir 2 n/m n/m 5 n/m n/m 8 60 60 12 50 50
Bevespi - - - - - - - - - - - -
Others 73 (4) 12 59 (19) (20) 61 3 3 65 7 11
Total Respiratory 1,243 (7) (2) 1,225 (1) 1 1,230 - - 1,289 5 6
Other
Nexium 644 (23) (20) 647 - 3 641 (1) (2) 564 (12) (10)
Synagis 204 (50) (50) 66 (68) (68) 117 77 77 275 135 135
Losec/Prilosec 96 (13) (8) 85 (11) (9) 82 (4) (5) 77 (6) (2)
Seroquel XR 262 (15) (13) 264 1 4 258 (2) (2) 241 (7) (6)
Movantik/Moventig 3 n/m n/m 1 (67) (67) 10 n/m
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