REG - AstraZeneca PLC - AZN: FY16 and Q4 2016 Results <Origin Href="QuoteRef">AZN.L</Origin> - Part 3
02/02/2017 07:06
- Part 3: For the preceding part double click ID:nRSB8083Vb
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
MEDI4276 HER2 bispecific ADC mAb solid tumours I Q4 2015
MEDI9197# TLR 7/8 agonist solid tumours I Q4 2015
MEDI9447 CD73 mAb solid tumours I Q3 2015
Cardiovascular & Metabolic Diseases
MEDI0382 GLP-1/glucagon dual agonist diabetes / obesity II Q3 2016
MEDI4166 PCSK9/GLP-1 mAb + peptide fusion diabetes / cardiovascular II Q1 2016
MEDI6012 LCAT ACS II Q4 2015
AZD4076 anti-miR103/107 oligonucleotide non-alcoholic fatty liver disease/non-alcoholic steatohepatitis (NASH) II Q4 2016
AZD4831 Myeloperoxidase Heart failure with a preserved ejection fraction I Q3 2016
AZD5718 FLAP CAD I Q1 2016
AZD8601# VEGF-A cardiovascular I Q1 2017
MEDI8111 Rh-factor II trauma / bleeding I Q1 2014
Respiratory
tezepelumab# TSLP mAb asthma / atopic dermatitis II Q2 2014
abediterol# LABA asthma/COPD II Q4 2007
AZD7594 inhaled SGRM asthma/COPD II Q3 2015
AZD9412# inhaled interferon beta asthma/COPD II Q3 2015
PT010 LABA/LAMA/ICS asthma II Q2 2014
AZD1419# TLR9 agonist asthma II Q4 2016
AZD8871# MABA COPD II Q1 2017
AZD0284 Inhaled RORg psoriasis I Q4 2016
AZD5634 inhaled ENaC cystic fibrosis I Q1 2016
AZD7594+abediterol# Inhaled SGRM+LABA asthma/COPD I Q4 2016
AZD7986# DPP1 COPD I Q4 2014
AZD9567 oral SGRM rheumatoid arthritis I Q4 2015
Other
anifrolumab# IFN-alphaR mAb lupus nephritis II Q4 2015
anifrolumab# IFN-alphaR mAb systemic lupus erythematosus (subcutaneous) I Q4 2015
inebilizumab# CD19 mAb neuromyelitis optica II Q1 2015(Orphan drug)
mavrilimumab# GM-CSFR mAb rheumatoid arthritis II Q1 2010
verinurad1 selective uric acid reabsorption inhibitor (URAT-1) chronic treatment of hyperuricemia in patients with gout II Q3 2013
MEDI5872# B7RP1 mAb primary Sjögren's syndrome II Q3 2016
AZD3241 myeloperoxidase inhibitor multiple system atrophy II Q2 2015(Orphan drug)
MEDI3902 Psl/PcrV bispecific mAb prevention of nosocomial pseudomonas pneumonia II Q2 2016(Fast Track, US)
MEDI4893 mAb binding to S. aureus toxin hospital-acquired pneumonia / serious S. aureus infection II Q4 2014 (Fast Track, US)
MEDI8852 influenza A mAb influenza A treatment II Q4 2015(Fast Track, US)
MEDI8897# RSV mAb-YTE passive RSV prophylaxis II Q1 2015(Fast Track, US)
MEDI0700# BAFF/B7RP1 bispecific mAb systemic lupus erythematosus I Q1 2016
MEDI1814#2 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
1 Planning to initiate a programme for CKD
2 Co-development collaboration with Eli Lilly for MEDI1814
Significant Lifecycle Management
Oncology
FaslodexFALCON oestrogen receptor antagonist 1st-line hormone receptor +ve advanced breast cancer Accepted Accepted Accepted H2 2017
Lynparza OlympiAD PARP inhibitor gBRCA metastatic breast cancer Q2 2014 H2 2017 H2 2017 H2 2017
Lynparza PARP inhibitor 2nd-line or greater BRCAm PSR ovarian cancer, maintenance monotherapy Q3 2013 H1 2017(Fast Track) H1 2017 H2 2017
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 2018 2018
POLO
Lynparza PARP inhibitor prostate cancer Q3 2014 (Breakthrough Therapy)
LynparzaOlympiA PARP inhibitor gBRCA adjuvant breast cancer Q2 2014 2020 2020 2020
Tagrisso FLAURA EGFR inhibitor 1st-line advanced EGFRm NSCLC Q1 2015 H2 2017 H2 2017 H2 2017 H2 2017
Tagrisso ADAURA EGFR inhibitor adjuvant EGFRm NSCLC Q4 2015 2022 2022 2022 2022
Cardiovascular & Metabolic Diseases
Brilinta1 P2Y12 receptor antagonist outcomes trial in patients with prior myocardial infarction Launched(Priority Review) Launched Approved Accepted
PEGASUS-
TIMI 54
Brilinta1THEMIS P2Y12 receptor antagonist outcomes trial in patients with type-2 diabetes and CAD, but without a previous history ofmyocardial infarction or stroke Q1 2014 2018 2018 2018 2019
Brilinta1HESTIA P2Y12 receptor antagonist prevention of vaso-occlusive crises in paediatric patients with sickle cell disease Q1 2014 2020 2020
OnglyzaSAVOR-TIMI 53 DPP-4 inhibitor type-2 diabetes outcomes trial Launched Launched Accepted
Kombiglyze XR/Komboglyze2 DPP-4 inhibitor/ metformin FDC type-2 diabetes Launched Launched Accepted
Farxiga3 SGLT2 inhibitor type-2 diabetes outcomes trial Q2 2013 2020 2020
DECLARE-
TIMI 58
Farxiga3 SGLT2 inhibitor type-1 diabetes Q4 2014 2018 2018 2018
Xigduo XR/Xigduo4 SGLT2 inhibitor/ metformin FDC type-2 diabetes Launched Launched
Qtern (saxagliptin/dapagliflozin FDC) DPP-4 inhibitor/ SGLT2 inhibitor FDC type-2 diabetes Accepted Approved
Bydureon weekly GLP-1 receptor agonist type-2 diabetes Q1 2013 H1 2017 H2 2017
suspension
Bydureon EXSCEL GLP-1 receptor agonist type-2 diabetes outcomes trial Q2 2010 2018 2018 2018
EpanovaSTRENGTH omega-3 carboxylic acids outcomes trial in statin-treated patients at high CV 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
Symbicort ICS/LABA breath actuated Inhaler asthma/COPD 2018
Duaklir Genuair# LAMA/LABA COPD 2018 Launched 2019
Other
Nexium proton pump inhibitor stress ulcer prophylaxis Submitted
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 Brilinta in the US and Japan; Brilique in ROW
2 Kombiglyze XR in the US; Komboglyze in the EU
3 Farxiga in the US; Forxiga in ROW
4 Xigduo XR in the US; Xigduo in the EU
Terminations (discontinued projects between 1 October 2016 and 31 December 2016)
NME / Line Extension Compound Reason for Discontinuation Area Under Investigation
NME durvalumab# + tremelimumab ALPS¶ Safety/Efficacy metastatic pancreatic ductal carcinoma
NME MEDI7510 Safety/Efficacy Prevention of respiratory syncytial virus disease in older patients
Completed Projects / Divestitures
Compound Mechanism Area Under Investigation Completed/Divested Estimated Regulatory Submission Acceptance†
US EU Japan China
MEDI2070#1 IL-23 mAb Crohn's disease Divested
Zinforo#2 extended spectrum cephalosporin with affinity to penicillin-binding proteins pneumonia/skin infections Divested Launched Submitted
Zavicefta#2(CAZ AVI) cephalosporin/ beta lactamase inhibitor hospital-acquired pneumonia/ ventilator-associated pneumonia Divested Approved
Zavicefta#2(CAZ AVI) cephalosporin/ beta lactamase inhibitor serious infections, complicated intra-abdominal infection, complicated urinary tract infection Divested Approved
ATM AVI#2 monobactam/ beta lactamase inhibitor targeted serious bacterial infections Divested
CXL#2 beta lactamase inhibitor / cephalosporin methicillin-resistant S. aureus Divested
AZD8108 NMDA antagonist suicidal ideation Divested
durvalumab# PD-L1 mAb 2nd-line HNSCC (PD-L1 positive) Completed
HAWK¶3
durvalumab# + tremelimumab PD-L1 mAb + CTLA-4 mAb 2nd-line HNSCC (PD-L1 negative) Completed
CONDOR¶3
1 AstraZeneca licensing agreement with Allergan
2 AstraZeneca completed the transaction with Pfizer to sell the commercialisation and development rights to its
late-stage, small-molecule antibiotics business in most markets globally outside the US
3 Registrational trials now complete (data will contribute towards subsequent HNSCC regulatory submissions)
Condensed Consolidated Statement of Comprehensive Income
Product sales 21,319 23,641
Externalisation revenue 1,683 1,067
Total revenue 23,002 24,708
Cost of sales (4,126) (4,646)
Gross profit 18,876 20,062
Distribution costs (326) (339)
Research and development expense (5,890) (5,997)
Selling, general and administrative costs (9,413) (11,112)
Other operating income and expense 1,655 1,500
Operating profit 4,902 4,114
Finance income 67 46
Finance expense (1,384) (1,075)
Share of after tax losses in associates and joint ventures (33) (16)
Profit before tax 3,552 3,069
Taxation (146) (243)
Profit for the period 3,406 2,826
Other comprehensive income
Items that will not be reclassified to profit or loss
Remeasurement of the defined benefit pension liability (575) 652
Tax on items that will not be reclassified to profit or loss 136 (199)
(439) 453
Items that may be reclassified subsequently to profit or loss
Foreign exchange arising on consolidation (1,050) (528)
Foreign exchange arising on designating borrowings in net investment hedges (591) (333)
Fair value movements on cash flow hedges (115) -
Fair value movements on cash flow hedges transferred to profit or loss 195 -
Fair value movements on derivatives designated in net investment hedges (4) 14
Amortisation of loss on cash flow hedge 1 1
Net available for sale gains/(losses) taken to equity 139 (32)
Tax on items that may be reclassified subsequently to profit or loss 86 87
(1,339) (791)
Other comprehensive income for the period, net of tax (1,778) (338)
Total comprehensive income for the period 1,628 2,488
Profit attributable to:
Owners of the Parent 3,499 2,825
Non-controlling interests (93) 1
3,406 2,826
Total comprehensive income attributable to:
Owners of the Parent 1,722 2,488
Non-controlling interests (94) -
1,628 2,488
Basic earnings per $0.25 Ordinary Share $2.77 $2.23
Diluted earnings per $0.25 Ordinary Share $2.76 $2.23
Weighted average number of Ordinary Shares in issue (millions) 1,265 1,264
Diluted weighted average number of Ordinary Shares in issue (millions) 1,266 1,265
2,488
Basic earnings per $0.25 Ordinary Share
$2.77
$2.23
Diluted earnings per $0.25 Ordinary Share
$2.76
$2.23
Weighted average number of Ordinary Shares in issue (millions)
1,265
1,264
Diluted weighted average number of Ordinary Shares in issue (millions)
1,266
1,265
Condensed Consolidated Statement of Comprehensive Income
Product sales 5,260 6,207
Externalisation revenue 325 192
Total revenue 5,585 6,399
Cost of sales (1,160) (1,269)
Gross profit 4,425 5,130
Distribution costs (83) (99)
Research and development expense (1,543) (1,746)
Selling, general and administrative costs (1,386) (2,668)
Other operating income and expense 1,120 471
Operating profit 2,533 1,088
Finance income 23 13
Finance expense (362) (292)
Share of after tax losses in associates and joint ventures (11) (7)
Profit before tax 2,183 802
Taxation (366) 6
Profit for the period 1,817 808
Other comprehensive income
Items that will not be reclassified to profit or loss
Remeasurement of the defined benefit pension liability 552 618
Tax on items that will not be reclassified to profit or loss (120) (187)
432 431
Items that may be reclassified subsequently to profit or loss
Foreign exchange arising on consolidation (360) (169)
Foreign exchange arising on designating borrowings in net investment hedges (397) (11)
Fair value movements on cash flow hedges (89) -
Fair value movements on cash flow hedges transferred to profit or loss 154 -
Fair value movements on derivatives designated in net investment hedges 92 (10)
Net available for sale gains taken to equity 13 31
Tax on items that may be reclassified subsequently to profit or loss 23 3
(564) (156)
Other comprehensive income for the period, net of tax (132) 275
Total comprehensive income for the period 1,685 1,083
Profit attributable to:
Owners of the Parent 1,842 808
Non-controlling interests (25) -
1,817 808
Total comprehensive income attributable to:
Owners of the Parent 1,710 1,083
Non-controlling interests (25) -
1,685 1,083
Basic earnings per $0.25 Ordinary Share $1.46 $0.63
Diluted earnings per $0.25 Ordinary Share $1.45 $0.63
Weighted average number of Ordinary Shares in issue (millions) 1,265 1,264
Diluted weighted average number of Ordinary Shares in issue (millions) 1,266 1,265
1,083
Basic earnings per $0.25 Ordinary Share
$1.46
$0.63
Diluted earnings per $0.25 Ordinary Share
$1.45
$0.63
Weighted average number of Ordinary Shares in issue (millions)
1,265
1,264
Diluted weighted average number of Ordinary Shares in issue (millions)
1,266
1,265
Condensed Consolidated Statement of Financial Position
ASSETS Non-current assets
Property, plant and equipment 6,848 6,413
Goodwill 11,658 11,800
Intangible assets 27,586 22,646
Derivative financial instruments 343 446
Investments in associates and joint ventures 99 85
Other investments 727 458
Other receivables 901 907
Deferred tax assets 1,102 1,294
49,264 44,049
Current assets
Inventories 2,334 2,143
Trade and other receivables 4,573 6,622
Other investments 884 613
Derivative financial instruments 27 2
Income tax receivable 426 387
Cash and cash equivalents 5,018 6,240
13,262 16,007
Total assets 62,526 60,056
LIABILITIES Current liabilities
Interest-bearing loans and borrowings (2,307) (916)
Trade and other payables (10,486) (11,663)
Derivative financial instruments (18) (9)
Provisions (1,065) (798)
Income tax payable (1,380) (1,483)
(15,256) (14,869)
Non-current liabilities
Interest-bearing loans and borrowings (14,501) (14,137)
Derivative financial instruments (117) (1)
Deferred tax liabilities (3,956) (2,665)
Retirement benefit obligations (2,186) (1,974)
Provisions (353) (444)
Other payables (9,488) (7,457)
(30,601) (26,678)
Total liabilities (45,857) (41,547)
Net assets 16,669 18,509
EQUITY
Capital and reserves attributable to equity holders of the Company
Share capital 316 316
Share premium account 4,351 4,304
Other reserves 2,047 2,036
Retained earnings 8,140 11,834
14,854 18,490
Non-controlling interests 1,815 19
Total equity 16,669 18,509
Non-controlling interests
1,815
19
Total equity
16,669
18,509
*2015 comparatives have been restated to reflect an adjustment to the acquisition accounting for ZS Pharma (see Note 5).
Condensed Consolidated Statement of Cash Flows
Cash flows from operating activities
Profit before tax 3,552 3,069
Finance income and expense 1,317 1,029
Share of after tax losses in associates and joint ventures 33 16
Depreciation, amortisation and impairment 2,357 2,852
Decrease/(increase) in working capital and short-term provisions 926 (49)
Gain on disposal of intangible assets (1,301) (961)
Fair value movements on contingent consideration arising from business combinations (1,158) (432)
Non-cash and other movements (492) (350)
Cash generated from operations 5,234 5,174
Interest paid (677) (496)
Tax paid (412) (1,354)
Net cash inflow from operating activities 4,145 3,324
Cash flows from investing activities
Movement in short-term investments and fixed deposits (166) 283
Purchase of property, plant and equipment (1,446) (1,328)
Disposal of property, plant and equipment 82 47
Purchase of intangible assets (868) (1,460)
Disposal of intangible assets 1,427 1,130
Purchase of non-current asset investments (230) (57)
Disposal of non-current asset investments 3 93
Payments to joint ventures (41) (45)
Upfront payments on business combinations (2,564) (2,446)
Payment of contingent consideration from business combinations (293) (579)
Interest received 140 123
Payments made by subsidiaries to non-controlling interests (13) -
Net cash outflow from investing activities (3,969) (4,239)
Net cash inflow/(outflow) before financing activities 176 (915)
Cash flows from financing activities
Proceeds from issue of share capital 47 43
New long-term loans 2,491 5,928
Repayment of loans - (884)
Dividends paid (3,561) (3,486)
Hedge contracts relating to dividend payments 18 (51)
Repayment of obligations under finance leases (16) (42)
Movement in short-term borrowings (303) (630)
Net cash (outflow)/inflow from financing activities (1,324) 878
Net decrease in cash and cash equivalents in the period (1,148) (37)
Cash and cash equivalents at the beginning of the period 6,051 6,164
Exchange rate effects 21 (76)
Cash and cash equivalents at the end of the period 4,924 6,051
Cash and cash equivalents consists of:
Cash and cash equivalents 5,018 6,240
Overdrafts (94) (189)
4,924 6,051
(94)
(189)
4,924
6,051
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 2015 316 4,261 2,021 13,029 19,627 19 19,646
Profit for the period - - - 2,825 2,825 1 2,826
Other comprehensive income - - - (337) (337) (1) (338)
Transfer to other reserves - - 15 (15) - - -
Transactions with owners:
Dividends - - - (3,537) (3,537) - (3,537)
Issue of Ordinary Shares - 43 - - 43 - 43
Share-based payments - - - (131) (131) - (131)
Net movement - 43 15 (1,195) (1,137) - (1,137)
At 31 Dec 2015 316 4,304 2,036 11,834 18,490 19 18,509
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 - - - 3,499 3,499 (93) 3,406
Other comprehensive income - - - (1,777) (1,777) (1) (1,778)
Transfer to other reserves - - 11 (11) - - -
Transactions with owners:
Dividends - - - (3,540) (3,540) - (3,540)
Dividend 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 - 47 - - 47 - 47
Share-based payments - - - (40) (40) - (40)
Net movement - 47 11 (3,694) (3,636) 1,796 (1,840)
At 31 Dec 2016 316 4,351 2,047 8,140 14,854 1,815 16,669
* Other reserves include the capital redemption reserve and the merger reserve.
Notes to the Interim Financial Statements
1 BASIS OF PREPARATION AND ACCOUNTING POLICIES
The preliminary announcement for the year ended 31 December 2016 has been prepared in accordance with International
Financial Reporting Standards (IFRSs) 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 in accordance with IFRSs as adopted by the EU and as issued by
the IASB. The preliminary announcement has 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 2015.
There have been no significant new or revised accounting standards applied in the 12 months ended 31 December 2016.
Legal proceedings
The information contained in Note 7 updates the disclosures concerning legal proceedings and contingent liabilities in the
Group's Annual Report and Form 20-F Information 2015 and Interim Financial Statements for the six months ended 30 June 2016
and the Third Quarter and Nine Months Results 2016.
Going concern
The Group has considerable financial resources available. As at 31 December 2016 the Group has $5.7bn in financial
resources (cash balances of $5bn and undrawn committed bank facilities of $3bn which are available until April 2021, with
only $2.3bn 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 Directors have a reasonable expectation that the
Company and the Group have adequate resources to continue in operational existence for the foreseeable future. Accordingly,
the preliminary announcement has been prepared on a going concern basis.
Financial information
The financial information contained in the preliminary announcement does not constitute statutory accounts of the Group for
the years ended 31 December 2016 and 2015 but is derived from those accounts. Statutory accounts for 2015 have been
delivered to the registrar of companies and those for 2016 will be delivered in due course. Those accounts have been
reported on by the Group's auditors; 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. The quarterly information for the three month period to 31 December
2016 and to 31 December 2015 has not been subject to audit.
2 RESTRUCTURING COSTS
Profit before tax for the year ended 31 December 2016 is stated after charging restructuring costs of $1,107m ($394m for
the fourth quarter of 2016). These have been charged to profit as follows:
FY 2016 FY 2015 Q4 2016 Q4 2015
$m $m $m $m
Cost of sales 130 158 43 34
Research and development expense 178 258 32 78
Selling, general and administrative costs 823 618 319 260
Other operating income and expense (24) - - -
Total 1,107 1,034 394 372
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.
At 1 Jan 2016 $m Cash Flow$m Acquisitions $m Non-cash& Other$m Exchange Movements$m At 31 Dec 2016 $m
Loans due after one year (14,109) (2,491) - 1,793 312 (14,495)
Finance leases due after one year (28) - - 22 - (6)
Total long-term debt (14,137) (2,491) - 1,815 312 (14,501)
Current instalments of loans - - - (1,769) - (1,769)
Current instalments of finance leases (67) 16 - (37) 1 (87)
Total current debt (67) 16 - (1,806) 1 (1,856)
Other Investments 613 164 140 54 (73) 898
Net derivative financial instruments 438 (2) - (201) - 235
Cash and cash equivalents 6,240 (1,231) - - 9 5,018
Overdrafts (189) 83 - - 12 (94)
Short-term borrowings (660) 303 - 1 (1) (357)
6,442 (683) 140 (146) (53) 5,700
Net debt (7,762) (3,158) 140 (137) 260 (10,657)
Non-cash movements in the period include fair value adjustments under IAS 39.
4 MAJORITY EQUITY INVESTMENT IN ACERTA PHARMA
On 2 February 2016, AstraZeneca completed an agreement to invest in a majority equity stake in Acerta Pharma, a
privately-owned biopharmaceutical company based in the Netherlands and US. The transaction provides AstraZeneca with a
potential best-in-class irreversible oral Bruton's tyrosine kinase (BTK) inhibitor, acalabrutinib (ACP-196), currently in
Phase III development for B-cell blood cancers and in Phase I/II clinical trials in multiple solid tumours.
Under the terms
- More to follow, for following part double click ID:nRSB8083VdRecent news on AstraZeneca
See all newsRCS - LHH - LHH, EZRA's AI Leadership Transformation Program
AnnouncementREG - AstraZeneca PLC - Baxdrostat met primary endpoint in Bax24 Ph3 trial
AnnouncementREG - AstraZeneca PLC - Datroway improved OS and PFS in TROPION-Breast02
AnnouncementREG - AstraZeneca PLC - Total Voting Rights
AnnouncementREG - AstraZeneca PLC - Enhertu improved IDFS in early BC in DB-05
Announcement