REG - AstraZeneca PLC - Final Results
06/02/2025 07:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250206:nRSF0908Wa&default-theme=true
RNS Number : 0908W AstraZeneca PLC 06 February 2025
AstraZeneca
6 February 2025
Full Year and Q4 2024 results
Strong momentum in FY 2024 with Total Revenue and Core EPS up 21% and 19%
respectively
Revenue and EPS summary
FY 2024 % Change Q4 2024 % Change
$m Actual CER 1 (#_ftn1) $m Actual CER
- Product Sales 50,938 16 19 13,362 18 19
- Alliance Revenue 2,212 55 55 714 68 69
- Collaboration Revenue 923 56 54 815 >2x >2x
Total Revenue 54,073 18 21 14,891 24 25
Reported EPS $4.54 18 29 $0.97 56 71
Core 2 (#_ftn2) EPS $8.21 13 19 $2.09 44 49
Financial performance for FY 2024 (Growth numbers at constant exchange rates)
‒ Total Revenue up 21% to $54,073m, driven by a 19% increase in
Product Sales, continued growth of partnered medicines (Alliance Revenue) and
the achievement of sales-based milestones (Collaboration Revenue)
‒ Total Revenue growth from Oncology was 24%, CVRM 20%, R&I 25%,
V&I 8% and Rare Disease 16%
‒ Core EPS increased 19% to $8.21
‒ Second interim dividend declared of $2.10 per share, making a total
annual dividend declared for FY 2024 of $3.10 per share, an increase of 7%.
Dividend to be further increased in FY 2025
‒ Guidance for FY 2025: Total Revenue is expected to increase by a
high single-digit percentage and Core EPS is expected to increase by a low
double-digit percentage, both at CER
Pascal Soriot, Chief Executive Officer, AstraZeneca, said:
"Our company delivered a very strong performance in 2024 with Total Revenue
and Core EPS up 21% and 19% respectively. We also delivered nine positive high
value Phase III studies in the year, which coupled with increasing demand for
our medicines in all key regions, will help sustain our growth momentum into
2025.
This year marks the beginning of an unprecedented, catalyst-rich period for
our company, an important step on our Ambition 2030 journey to deliver $80
billion Total Revenue by the end of the decade. In 2025 alone, we anticipate
the first Phase III data for seven new medicines, along with several important
new indication opportunities for our existing medicines.
We are also investing in and making significant progress with transformative
technologies that have the potential to drive our growth well beyond 2030,
many of which have now entered pivotal trials."
Key milestones achieved since the prior results announcement
‒ Positive read-outs for Truqap in combination with abiraterone and
androgen deprivation therapy in PTEN-deficient de novo metastatic
hormone-sensitive prostate cancer (CAPItello-281) and Tagrisso with or without
chemotherapy in resectable early-stage EGFRm NSCLC (NeoADAURA)
‒ US approvals for Imfinzi in limited-stage small cell lung cancer
(ADRIATIC), Calquence in combination with bendamustine and rituximab in mantle
cell lymphoma (ECHO), Datroway (datopotamab deruxtecan) in HR+ HER2-
metastatic breast cancer (TROPION-Breast01) and Enhertu in
chemotherapy-na•ve HER2-low and -ultralow metastatic breast cancer
(DESTINY-Breast06). EU approvals for Tagrisso in unresectable EGFRm NSCLC
(LAURA) and Kavigale for prevention of COVID-19 (SUPERNOVA). Japan approvals
for Imfinzi in endometrial cancer (DUO-E), Lynparza plus Imfinzi in pMMR
endometrial cancer (DUO-E), Calquence tablet formulation in chronic / small
lymphocytic leukaemia, Datroway in HR+ HER2- metastatic breast cancer, Fasenra
in EGPA (MANDARA) and Kavigale for prevention of COVID-19. China approvals for
Lynparza in gBRCAm HER2- early breast cancer (OlympiA), Orpathys in locally
advanced or metastatic MET Exon 14 NSCLC (NCT04923945)
Guidance
The Company issues its Total Revenue and Core EPS guidance 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%
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.
Currency impact
If foreign exchange rates for February 2025 to December 2025 were to remain at
the average rates seen in January 2025, it is anticipated that Total Revenue
in FY 2025 would incur a low single-digit percentage adverse impact compared
to the performance at CER, and Core EPS would incur a mid-single-digit
percentage adverse impact. The Company's foreign exchange rate sensitivity
analysis is provided in Table 17.
Capital allocation
In FY 2025, the Company intends to increase the annual dividend declared to
$3.20 per share. The Company also expects to increase capital expenditure 3
(#_ftn3) by approximately 50%, driven by manufacturing expansion projects and
investment in IT systems, to support portfolio growth and build capacity for
transformative technologies.
China
In relation to the illegal drug importation allegations, in January 2025,
AstraZeneca received a Notice of Transfer to the Prosecutor and an Appraisal
Opinion from the Shenzhen City Customs Office regarding suspected unpaid
importation taxes amounting to $0.9 million. To the best of AstraZeneca's
knowledge, the importation taxes referred to in the Appraisal Opinion relate
to Imfinzi and Imjudo. A fine of between one and five times the amount of
unpaid importation taxes may also be levied if AstraZeneca is found liable.
AstraZeneca continues to fully cooperate with the Chinese authorities.
In December 2024 AstraZeneca announced the appointment of Iskra Reic as
Executive Vice President, International, which encompasses China, Asian and
Eurasian markets, Middle East & Africa, Latin America, Australia & New
Zealand. Iskra succeeds Leon Wang who is on extended leave from the Company
while under investigation in China.
Table 1: Key elements of Total Revenue performance in Q4 2024
% Change
Revenue type $m Actual % CER %
Product Sales 13,362 18 19
Alliance Revenue 714 68 69 * $392m Enhertu (Q4 2023: $281m)
* $133m Tezspire (Q4 2023: $80m)
* $161m Beyfortus (Q4 2023: $41m)
Collaboration Revenue 815 >2x >2x * $600m Lynparza (Q4 2023: $245m)
* $111m Beyfortus (Q4 2023: $27m)
* $100m Koselugo (Q4 2023: nil)
Total Revenue 14,891 24 25
Therapy areas $m Actual % CER %
Oncology 6,344 27 29 * Tagrisso up 20% (21% at CER), Calquence up 20%, Enhertu up 48% (54% at
CER)
CVRM( ) 3,138 16 17 * Farxiga up 21% (22% at CER), Lokelma up 35%
R&I 2,127 27 28 * Breztri up 29%. Saphnelo up 65%, Tezspire up 86% (85% at CER), Symbicort
up 31% (33% CER)
V&I 651 58 55 * Beyfortus Total Revenue up >3x
Rare Disease( ) 2,377 21 22 * Ultomiris up 32% (33% at CER), partially offset by decline in Soliris of
24% (22% at CER), Strensiq up 38% (37% at CER) and Koselugo up >3x
Other Medicines 254 (7) (6)
Total Revenue 14,891 24 25
Regions $m Actual % CER %
US 6,532 28 28 * Product Sales up 25%
Emerging Markets 3,134 13 19
- China 1,364 (1) (3) * Decline primarily due to low rates of seasonal respiratory viral
infections, and impact from year-end hospital budget dynamics
- Ex-China Emerging Markets 1,770 26 42
Europe 3,948 37 35 * Product Sales up 20% (18% at CER)
Established RoW 1,277 1 2
Total Revenue 14,891 24 25
Key alliance medicines
‒ Combined sales of Enhertu, recorded by Daiichi Sankyo Company
Limited (Daiichi Sankyo) and AstraZeneca, amounted to $3,754m in FY 2024 (FY
2023: $2,566m)
‒ Combined sales of Tezspire, recorded by Amgen and AstraZeneca,
amounted to $1,219m in FY 2024 (FY 2023: $653m)
Table 2: Key elements of financial performance in Q4 2024
Metric Reported Reported change Core Core Comments 4 (#_ftn4)
change
Total Revenue $14,891m 24% Actual 25% CER $14,891m 24% Actual 25% CER * See Table 1 and the Total Revenue section of this document for further
details
Product Sales Gross Margin 80% Stable Actual +1pp CER 79% -1pp Actual Stable CER * Variations in Product Sales Gross Margin can be expected between
periods, due to product seasonality, foreign exchange fluctuations and other
effects
R&D $4,677m 52% Actual 52% CER $3,573m 23% Actual 22% CER + Increased investment in the pipeline
expense * Core R&D-to-Total Revenue ratio of 24%
(Q4 2023: 24%)
* Reported R&D includes $753m impairment recorded against the
vemircopan (ALXN2050) intangible asset
SG&A expense $5,410m 1% Actual 1% CER $4,275m 6% Actual 7% CER + Market development for recent launches and pre-launch activities
* Core SG&A-to-Total Revenue ratio of 29%
(Q4 2023: 34%)
Other operating income and expense 5 (#_ftn5) $100m -7% Actual -6% CER $101m -7% Actual -6% CER
Operating Margin 14% +3pp Actual +4pp CER 28% +5pp Actual +6pp CER * See commentary above on Gross Margin, R&D, SG&A and Other
operating income and expense
Net finance expense $365m 9% Actual 8% CER $310m 20% Actual 20% CER + Recent debt issued at higher interest rates
+ Decrease in interest income
+ Higher level of Net debt
Tax rate 10% +17pp Actual +15pp CER 16% +7pp Actual +7pp CER * Variations in the tax rate can be expected between periods
EPS $0.97 56% Actual 71% CER $2.09 44% Actual 49% CER * Further details of differences between Reported and Core are shown in
Table 12
Table 3: Pipeline highlights since prior results announcement
Event Medicine Indication / Trial Event
Regulatory approvals and other regulatory actions Tagrisso EGFRm NSCLC (Stage III Regulatory approval (EU, CN)
unresectable) (LAURA)
Imfinzi Limited-stage SCLC (ADRIATIC) Regulatory approval (EU)
Imfinzi Advanced endometrial cancer Regulatory approval (JP)
Calquence Tablets for chronic lymphocytic leukaemia Regulatory approval (JP)
Calquence Mantle cell lymphoma (1st-line) (ECHO) Regulatory approval (US)
Lynparza + Imfinzi Advanced endometrial cancer with mismatch repair proficiency Regulatory approval (JP)
(DUO-E)
Lynparza gBRCAm HER2- eBC (OlympiA) Regulatory approval (CN)
Enhertu HR+ HER2-low and -ultralow mBC Regulatory approval (US)
(DESTINY-Breast06)
Datroway HR+ HER2- mBC (TROPION-Breast01) Regulatory approval (JP, US)
Orpathys MET exon 14 skipping altered NSCLC (NCT04923945) Regulatory approval (CN)
Fasenra EGPA (MANDARA) Regulatory approval (JP)
Kavigale Prevention of COVID-19 (SUPERNOVA) Regulatory approval (EU, JP)
Regulatory submissions Imfinzi Muscle-invasive bladder Regulatory submission (US, JP)
or acceptances*
cancer (NIAGARA)
Imfinzi + Imjudo NSCLC (1st-line) (POSEIDON) Regulatory submission (CN)
Calquence Chronic lymphocytic leukaemia (1st-line) (AMPLIFY) Regulatory submission (EU)
Datroway EGFRm NSCLC (later line) (TROPION-Lung05) Regulatory submission (US)
Tezspire Severe uncontrolled asthma (NAVIGATOR/ Regulatory submission (CN)
DIRECTION)
Koselugo Neurofibromatosis type 1 adult (KOMET) Regulatory submission (EU, JP)
Phase III / registrational data readouts and other developments Tagrisso Resectable early-stage EGFRm NSCLC (NeoADAURA) Primary endpoint met
Truqap PTEN-deficient de novo metastatic hormone-sensitive prostate cancer Primary endpoint met
(CAPItello-281)
*US, EU and China regulatory submission denotes filing acceptance
Other pipeline updates
In January 2025, the vemircopan (ALXN2050) Phase II development programme was
terminated. The decision was based on safety and efficacy data from Phase II
trials.
Upcoming pipeline catalysts
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
(https://www.astrazeneca.com/investor-relations.html) .
Sustainability highlights
The Company convened an event on health equity for investors and analysts in
November that detailed AstraZeneca's health equity strategy, which is embedded
from the Company's science through to healthcare delivery and community
engagement.
At the end of 2024, the Company's cumulative reduction in Scope 1 and 2
greenhouse gas (GHG) emissions was 77.5% from the 2015 baseline.
Conference call
A conference call and webcast for investors and analysts will begin today, 6
February 2025, at 11:00 UK time. Details can be accessed via astrazeneca.com
(https://www.astrazeneca.com/) .
Reporting calendar
The Company intends to publish its Q1 2025 results on 29 April 2025.
Operating and financial review
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. The performance shown in this announcement covers the twelve-month
period to 31 December 2024 ('the year' or 'FY 2024') compared to the
twelve-month period to 31 December 2023 (FY 2023), or the three-month period
to 31 December 2024 ('the quarter' or 'Q4 2024') compared to the three-month
period to 31 December 2023 ('Q4 2023'), unless stated otherwise.
Core financial measures, EBITDA, Net debt, Product Sales 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 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 61 of
the Annual Report and Form 20-F Information 2023.
(https://www.astrazeneca.com/content/dam/az/Investor_Relations/annual-report-2023/pdf/AstraZeneca_AR_2023.pdf)
Reference should be made to the Reconciliation of Reported to Core financial
measures table included in the financial performance section in this
announcement.
Product Sales Gross Margin is calculated by dividing the difference between
Product Sales and Cost of Sales by the Product Sales. The calculation of
Reported and Core Product Sales Gross Margin excludes the impact of Alliance
Revenue and Collaboration Revenue and any associated costs, thereby reflecting
the underlying performance of Product Sales.
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 3 'Net
debt' included in the Notes to the Condensed consolidated 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.
Total Revenue
Table 4: Total Revenue by therapy area and medicine 6 (#_ftn6)
FY 2024 Q4 2024
% Change % Change
$m % Total Actual CER $m % Total Actual CER
Oncology 22,353 41 21 24 6,344 43 27 29
- Tagrisso 6,580 12 13 16 1,703 11 20 21
- Imfinzi 4,717 9 17 21 1,254 8 16 18
- Calquence 3,129 6 24 25 808 5 20 20
- Lynparza 3,672 7 20 22 1,444 10 46 47
- Enhertu 1,982 4 54 58 540 4 48 54
- Zoladex 1,097 2 11 17 252 2 (4) (1)
- Imjudo 281 1 29 31 73 - 27 28
- Truqap 430 1 >10x >10x 163 1 >10x >10x
- Orpathys 46 - - 2 10 - (15) (16)
- Other Oncology 419 1 (19) (14) 97 1 (25) (22)
BioPharmaceuticals: CVRM 12,517 23 18 20 3,138 21 16 17
- Farxiga 7,717 14 29 31 1,938 13 21 22
- Brilinta 1,333 2 1 2 341 2 4 4
- Crestor 1,155 2 4 8 261 2 5 6
- Lokelma 542 1 32 34 150 1 35 35
- Seloken/Toprol-XL 606 1 (5) - 140 1 (3) 1
- roxadustat 336 1 22 23 75 1 17 14
- Andexxa 219 - 20 22 59 - 11 11
- Wainua 85 - n/m n/m 42 - n/m n/m
- Other CVRM 524 1 (24) (22) 132 1 (9) (7)
BioPharmaceuticals: R&I 7,876 15 23 25 2,127 14 27 28
- Symbicort 2,879 5 22 25 684 5 31 33
- Fasenra 1,689 3 9 9 471 3 12 12
- Breztri 978 2 44 46 257 2 29 29
- Pulmicort 682 1 (4) (1) 164 1 (25) (23)
- Tezspire 684 1 98 99 213 1 86 85
- Saphnelo 474 1 69 70 147 1 65 65
- Airsupra 66 - >10x >10x 25 - >10x >10x
- Other R&I 424 1 (10) (9) 166 1 50 50
BioPharmaceuticals: V&I 1,462 3 8 8 651 4 58 55
- Beyfortus 722 1 >2x >2x 403 3 >3x >3x
- Synagis 447 1 (18) (14) 101 1 (38) (36)
- COVID-19 mAbs 31 - (90) (90) - - (96) (93)
- FluMist 258 - 14 10 149 1 7 3
- Other V&I 4 - (68) (68) (2) - (86) (88)
Rare Disease 8,768 16 13 16 2,377 16 21 22
- Ultomiris 3,924 7 32 34 1,089 7 32 33
- Soliris 2,588 5 (18) (14) 543 4 (24) (22)
- Strensiq 1,416 3 23 24 420 3 38 37
- Koselugo 631 1 91 96 265 2 >3x >3x
- Kanuma 209 - 22 24 60 - 47 48
Other Medicines 1,097 2 (9) (5) 254 2 (7) (6)
- Nexium 886 2 (8) (2) 201 1 (6) (4)
- Others 211 - (16) (14) 53 - (13) (13)
Total 54,073 100 18 21 14,891 100 24 25
Table 5: Alliance Revenue
FY 2024 Q4 2024
% Change % Change
$m Actual CER $m Actual CER
Enhertu 1,437 41 41 392 40 41
Tezspire 436 69 69 133 67 67
Beyfortus 237 >4x >4x 161 >3x >3x
Other royalty income 91 13 13 24 14 13
Other Alliance Revenue 11 12 11 4 57 52
Total 2,212 55 55 714 68 69
Table 6: Collaboration Revenue
FY 2024 Q4 2024
% Change % Change
$m Actual CER $m Actual CER
Lynparza: sales milestones 600 >2x >2x 600 >2x >2x
Beyfortus: sales milestones 167 70 64 111 >4x >3x
Koselugo: sales milestones 100 n/m n/m 100 n/m n/m
Farxiga: sales milestones 56 95 95 4 >5x >5x
Others - n/m n/m - n/m n/m
Total 923 56 54 815 >2x >2x
Table 7: Total Revenue by therapy area
FY 2024 Q4 2024
% Change % Change
$m % Total Actual CER $m % Total Actual CER
Oncology 22,353 41 21 24 6,344 43 27 29
Biopharmaceuticals 21,855 40 19 21 5,916 40 23 24
CVRM 12,517 23 18 20 3,138 21 16 17
R&I 7,876 15 23 25 2,127 14 27 28
V&I 1,462 3 8 8 651 4 58 55
Rare Disease 8,768 16 13 16 2,377 16 21 22
Other Medicines 1,097 2 (9) (5) 254 2 (7) (6)
Total 54,073 100 18 21 14,891 100 24 25
Table 8: Total Revenue by region
FY 2024 Q4 2024
% Change % Change
$m % Total Actual CER $m % Total Actual CER
US 23,235 43 22 22 6,532 44 28 28
Emerging Markets 13,675 25 14 22 3,134 21 13 19
China 6,413 12 9 11 1,364 9 (1) (3)
Emerging Markets ex. China 7,262 13 18 32 1,770 12 26 42
Europe 12,188 23 27 26 3,948 27 37 35
Established ROW 4,975 9 (2) 3 1,277 9 1 2
Total 54,073 100 18 21 14,891 100 24 25
Oncology
Oncology Total Revenue of $22,353m in FY 2024 increased by 21% (24% at CER),
representing 41% of overall Total Revenue (FY 2023: 40%). Collaboration
Revenue was $600m in FY 2024 (FY 2023: $245m), from a sales-related milestone
for Lynparza.
Tagrisso
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 6,580 2,763 1,755 1,301 761
Actual change 13% 21% 8% 16% (3%)
CER change 16% 21% 16% 15% 4%
Region Drivers and commentary
Worldwide * Strong global demand for Tagrisso in adjuvant (ADAURA) and 1st-line
settings (FLAURA, FLAURA-2)
US * Continued demand growth in both the adjuvant and 1st-line settings and,
early launch momentum in Stage III unresectable disease (LAURA), with
additional favourability coming from improved affordability
Emerging Markets * Encouraging demand growth, partially offset by year-end hospital budget
dynamics in China in the fourth quarter
Europe * Continued demand growth across adjuvant and 1st-line settings
Established RoW * Strong demand growth in 1st-line settings with year-over-year comparison
reflecting price reduction in Japan in June 2023
Imfinzi
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 4,717 2,603 479 948 687
Actual change 17% 20% 35% 28% (8%)
CER change 21% 20% 59% 27% (2%)
Region Drivers and commentary
Worldwide * Strong demand growth driven by HCC (HIMALAYA), BTC (TOPAZ-1), increased
patient share in Stage IV NSCLC (POSEIDON), and extensive-stage SCLC (CASPIAN)
US * Continued demand growth driven primarily by HCC and extensive-stage SCLC
* Early growth signals from launches in early NSCLC (AEGEAN) and
limited-stage SCLC (ADRIATIC)
Emerging Markets * Strong demand growth driven across all approved indications, in
particular BTC
Europe * Growth driven by share gains in extensive-stage SCLC as well as new
launches in HCC, BTC and NSCLC
Established RoW * Increased demand in GI indications, offset by 25% and 11% mandatory
price reductions in Japan effective from 1 February 2024 and 1 August 2024
respectively
Calquence
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 3,129 2,190 153 656 130
Actual change 24% 21% 56% 33% 20%
CER change 25% 21% 79% 32% 22%
Region Drivers and commentary
Worldwide * Sustained BTKi leadership in front-line CLL (ELEVATE-TN)
US * Growth driven by leading share of new patient starts in front-line CLL
despite increased competitive pressure, with additional favourability coming
from improved affordability
Europe * Strong growth in front-line CLL, maintaining share of 1L new patient
starts in competitive environment
Lynparza
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 3,672 1,332 655 1,432 253
Actual change 20% 6% 21% 46% (10%)
CER change 22% 6% 30% 46% (5%)
Region Drivers and commentary
Worldwide * Lynparza remains the leading medicine in the PARP inhibitor class
globally across four tumour types (ovarian, breast, prostate, pancreatic), as
measured by total prescription volume
* Collaboration Revenue $600m (FY 2023: $245m)
US * Continued leadership within competitive PARP inhibitor class, with
demand growth across all indications), and additional favourability coming
from improved affordability
Emerging Markets * Volume growth in China from increased share following inclusion of
HRD-positive ovarian cancer (PAOLA-1) on NRDL with no price reduction
effective 1 January 2024
Europe * Growth driven by increased market share and additional launches in early
breast cancer (OlympiA) and metastatic prostate cancer (PROpel)
* Recognised a $600m sales-related milestone payment, recorded as
Collaboration Revenue in Q4 2024
Established RoW * PARP class leadership maintained with year-over-year comparison
reflecting 7.7% price reduction in Japan in November 2023
Enhertu
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 1,982 893 478 542 69
Actual change 54% 27% 88% 83% >2x
CER change 58% 27% >2x 82% >2x
Region Drivers and commentary
Worldwide * Established standard of care in HER2-positive (DESTINY-Breast03) and
HER2-low (DESTINY-Breast04) metastatic breast cancer
* Encouraging early uptake, particularly in gynaecological indications
following tumour-agnostic approval in April 2024 (DESTINY-PanTumor02,
DESTINY-Lung01, DESTINY‑CRC02)
* Combined sales of Enhertu, recorded by Daiichi Sankyo and AstraZeneca,
amounted to $3,754m in FY 2024 (FY 2023: $2,566m)
US * US in-market sales, recorded by Daiichi Sankyo, amounted to $1,864m in
FY 2024 (FY 2023: $1,472m)
* Some spontaneous use in chemotherapy-na•ve and HER2-ultralow
populations following data presentation and New England Journal of Medicine
publication (DESTINY-Breast06)
Emerging Markets * Increased demand growth following Q1 2024 launch in HER2-positive and
HER2-low metastatic breast cancer in China with some stock compensation 7
(#_ftn7) in Q4 2024 due to NRDL enlistment
Europe * AstraZeneca's European revenue includes a mid single-digit percentage
royalty on Daiichi Sankyo's sales in Japan, recorded as Alliance Revenue
Other Oncology medicines
FY 2024 Change
Total Revenue $m Actual CER Drivers and commentary
Zoladex 1,097 11% 17% * Strong underlying growth in China and Emerging Markets and moderate
growth in Europe with reduced uptake in Japan
Imjudo 281 29% 31% * Continued growth across markets
Truqap 430 >10x >10x * Strong demand growth with uptake in biomarker altered subgroup of HR+
HER2- metastatic breast cancer (CAPItello-291), some benefit in the US in Q4
2024 due to one-off launch stocking of blister pack
Orpathys 46 - 2% * Demand in China for the treatment of patients with NSCLC with MET exon
14 skipping alterations
Other Oncology 419 (19%) (14%) * Decline in Faslodex Total Revenue due to VBP implementation in China in
March 2024 and generic erosion in Europe
BioPharmaceuticals
BioPharmaceuticals Total Revenue increased by 19% (21% at CER) in FY 2024 to
$21,855m, representing 40% of overall Total Revenue (FY 2023: 40%).
BioPharmaceuticals - CVRM
CVRM Total Revenue increased by 18% (20% at CER) to $12,517m in FY 2024 and
represented 23% of overall Total Revenue (FY 2023: 23%).
Farxiga
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 7,717 1,752 2,853 2,634 478
Actual change 29% 21% 29% 40% 6%
CER change 31% 21% 35% 39% 12%
Region Drivers and commentary
Worldwide * Continued volume growth in all major regions, driven by continued demand
in heart failure and CKD
* SGLT2 class growth underpinned by updated cardiorenal guidelines
US * Growth driven by underlying demand in HFrEF and CKD and launch of an
authorised generic in the first quarter of 2024
Emerging Markets * Increased reimbursement in ex-China Emerging Markets supporting growth
despite entry of generic competition in some markets
* Q4 2024 sales in China impacted by year-end hospital budget dynamics
Europe * Continued strong class growth and market share gains
Established RoW * Continued demand growth partially offset by generic competition in
Canada
* In Japan, AstraZeneca sells to collaborator Ono Pharmaceutical Co., Ltd,
which records in-market sales
Other CVRM medicines
FY 2024 Change
Total Revenue $m Actual CER Drivers and commentary
Brilinta 1,333 1% 2% * Continued sales growth in Emerging Markets, offset partly by decline in
Established RoW driven by generic competition in Canada
Crestor 1,155 4% 8% * Continued sales growth in Emerging Markets, decline in other regions
Seloken 606 (5%) - * Growth in ex-China Emerging Markets offsetting declines in most other
major regions
Lokelma 542 32% 34% * Strong growth in all major regions, particularly in Europe and Emerging
Markets
* Continued patient and volume growth
Roxadustat 336 22% 23%
Andexxa 219 20% 22% * Growth in year
Wainua 85 n/m n/m * Continued strong US launch momentum
Other CVRM 524 (24%) (22%)
BioPharmaceuticals - R&I
Total Revenue of $7,876m from R&I medicines increased 23% (25% at CER) and
represented 15% of overall Total Revenue (FY 2023: 14%).
Fasenra
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 1,689 1,049 92 404 144
Actual change 9% 6% 44% 14% 1%
CER change 9% 6% 55% 13% 6%
Region Drivers and commentary
Worldwide * Expanded severe asthma market share leadership in IL-5 class across
major markets
US * Sustained double-digit volume growth, partially offset by channel mix
Emerging Markets * Continued strong demand growth driven by launch acceleration across key
markets
Europe * Sustained leadership in severe eosinophilic asthma
Established RoW * In Japan, maintained class leadership in a broadly stable market
Breztri
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 978 516 245 143 74
Actual change 44% 35% 52% 78% 41%
CER change 46% 35% 57% 77% 47%
Region Drivers and commentary
Worldwide * Fastest growing triple medicine within the expanding FDC triple class
US * Consistent share growth within the expanding FDC triple class
Emerging Markets * Maintained market share leadership in China with strong FDC triple class
penetration
* Demand in fourth quarter in China impacted by low rates of respiratory
viral infections
* Further expansion with launches in additional geographies
Europe * Sustained growth across markets driven by new launches
Established RoW * Increased market share in Japan
Tezspire
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 684 436 11 156 81
Actual change 98% 67% >8x >3x >2x
CER change 99% 67% >8x >3x >2x
Region Drivers and commentary
Worldwide * Combined sales of Tezspire, recorded by Amgen and AstraZeneca, amounted
to $1,219m in FY 2024 (FY 2023: $653m)
US * Continued strong volume growth YoY, with majority of patients
new-to-biologics
Europe * Achieved and maintained new-to-brand leadership across multiple markets,
new launches continue to progress
Established RoW * Sustained market share growth in Japan and other major geographies, with
continued launches
Symbicort
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 2,879 1,187 805 559 328
Actual change 22% 63% 7% 2% (2%)
CER change 25% 63% 16% 1% -
Region Drivers and commentary
Worldwide * Symbicort remained the global market leader within a stable ICS/LABA
class
US * Continued strong demand for the authorised generic and favourable
channel mix
Emerging Markets * Sustained demand growth across markets in Ex-China regions
* Demand in fourth quarter in China impacted by low rates of respiratory
viral infections
Europe * Continued growth within mild asthma in some markets partially offset
generic erosion and a slowing overall market
Established RoW * Continued generic erosion in Japan
Other R&I medicines
FY 2024 Change
Total Revenue $m Actual CER Drivers and commentary
Pulmicort 682 (4%) (1%) * Emerging Markets are >80% of Pulmicort revenues
* Emerging Markets declined 23% (21% at CER) in the fourth quarter due to
low rates of seasonal respiratory viral infections in China
Saphnelo 474 69% 70% * Demand acceleration in the US, and additional growth driven by ongoing
launches in Europe and Established RoW
Airsupra 66 >10x >10x * Strong US launch momentum and volume uptake. Revenue in the period
continues to reflect patient introductory discounts as access continues to
build
Other R&I 424 (10%) (9%) * Continued generic competition
BioPharmaceuticals - V&I
Total Revenue from V&I medicines increased by 8% to $1,462m (FY 2023:
$1,357m) and represented 3% of overall Total Revenue (FY 2023: 3%).
V&I medicines
FY 2024 Change
Total Revenue $m Actual CER Drivers and commentary
Beyfortus 722 >2x >2x * Growth driven by increased demand and expanded production capacity
* Product Sales recognises AstraZeneca's sales of manufactured Beyfortus
product to Sanofi
* Alliance Revenue recognises AstraZeneca's 50% share of gross profits on
sales of Beyfortus in major markets outside the US, and 25% of brand revenues
in rest of world markets
* AstraZeneca has no participation in US profits or losses
Synagis 447 (18%) (14%) * Synagis demand decreased following rapid adoption of Beyfortus
COVID-19 mAbs 31 (90%) (90%) * Decline in Evusheld sales and Collaboration Revenue (Total Revenue FY
2023: $312m)
FluMist 258 14% 10% * Demand growth across key markets, in particular Europe, and benefit from
earlier start in flu season compared to prior year
Other V&I 4 (68%) (68%) * Decline in Vaxzevria sales (FY 2023: $11m)
Rare Disease
Total Revenue from Rare Disease medicines increased by 13% (16% at CER) in FY
2024 to $8,768m, representing 16% of overall Total Revenue (FY 2023: 17%).
Koselugo Collaboration Revenue was $100m in FY 2024 (FY 2023: $0m)
reflecting achievement of sales milestone. Product Sales increased by 12%
(14% at CER) in FY 2024 to $8,668m.
Ultomiris
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 3,924 2,261 141 884 638
Actual change 32% 29% 100% 32% 34%
CER change 34% 29% >2x 31% 43%
Region Drivers and commentary
Worldwide * Growth due to increased use in neurology, geographic expansion, further
patient demand and conversion from Soliris
* Ultomiris Total Revenue includes sales of Voydeya, which is approved as
an add‑on treatment to Ultomiris and Soliris for the 10-20% of PNH patients
who experience clinically significant EVH
US * Strong growth in patient demand in gMG (CHAMPION-MG) and NMOSD
(CHAMPION-NMOSD), both new-to-branded medicines, as well as continued
conversion from Soliris
Emerging Markets * Expansion into new markets and growth in patient demand
Europe * Strong demand growth following recent launches, particularly from
neurology indications, conversion from Soliris
Established RoW * Continued conversion from Soliris and strong demand following new
launches
Soliris
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 2,588 1,523 443 416 206
Actual change (18%) (12%) 4% (38%) (35%)
CER change (14%) (12%) 34% (38%) (32%)
Region Drivers and commentary
Worldwide * Decline driven by successful conversion of patients from Soliris to
Ultomiris
Emerging Markets * Growth driven by patient demand
Europe * Decline driven by successful conversion from Soliris to Ultomiris and
biosimilar erosion in PNH and aHUS
Strensiq
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 1,416 1,167 54 99 96
Actual change 23% 25% 33% 11% 12%
CER change 24% 25% 43% 10% 18%
Region Drivers and commentary
Worldwide * Growth driven by strong patient demand and geographic expansion
Emerging Markets * Q4 2024 benefitted from favourable timing of tender orders
Koselugo
FY 2024, $m Worldwide US Emerging Markets Europe Established RoW
Total Revenue 631 212 177 203 39
Actual change 91% 9% >3x >3x 62%
CER change 96% 9% >3x >3x 73%
Region Drivers and commentary
Worldwide * Growth driven by strong patient demand and geographic expansion
Europe * Total Revenue includes $100m Collaboration Revenue booked in Q4 2024
from achievement of sales-based milestone
Emerging Markets * Growing demand following new approvals and reimbursements, Q4 2024
benefitted from favourable timing of tender orders
Other Rare Disease medicines
FY 2024 Change
Total Revenue $m Actual CER Drivers and commentary
Kanuma 209 22% 24% * Continued global demand
Other medicines (outside the main therapy areas)
FY 2024 Change
Total Revenue $m Actual CER Drivers and commentary
Nexium 886 (8%) (2%) * Growth in Emerging Markets, which now accounts for two-thirds of Nexium
revenue, offset by generic erosion in other markets
Others 211 (16%) (14%) * Continued impact of generic competition
Financial performance
Table 9: Reported Profit and Loss
FY 2024 FY 2023 % Change Q4 2024 Q4 2023 % Change
$m $m Actual CER $m $m Actual CER
Total Revenue 54,073 45,811 18 21 14,891 12,024 24 25
- Product Sales 50,938 43,789 16 19 13,362 11,323 18 19
- Alliance Revenue 2,212 1,428 55 55 714 424 68 69
- Collaboration Revenue 923 594 56 54 815 277 >2x >2x
Cost of sales (10,207) (8,268) 23 25 (2,725) (2,308) 18 16
Gross profit 43,866 37,543 17 20 12,166 9,716 25 27
Distribution expense (555) (539) 3 5 (143) (145) (1) 1
R&D expense (13,583) (10,935) 24 25 (4,677) (3,073) 52 52
SG&A expense (19,977) (19,216) 4 5 (5,410) (5,371) 1 1
Other operating income & expense 252 1,340 (81) (81) 100 107 (7) (6)
Operating profit 10,003 8,193 22 32 2,036 1,234 65 79
Net finance expense (1,284) (1,282) - (3) (365) (337) 9 8
Joint ventures and associates (28) (12) >2x >2x (5) - n/m n/m
Profit before tax 8,691 6,899 26 38 1,666 897 86 >2x
Taxation (1,650) (938) 76 92 (166) 62 >4x >4x
Tax rate 19% 14% 10% -7%
Profit after tax 7,041 5,961 18 29 1,500 959 56 71
Earnings per share $4.54 $3.84 18 29 $0.97 $0.62 56 71
Table 10: Reconciliation of Reported Profit before tax to EBITDA
FY 2024 FY 2023 % Change Q4 2024 Q4 2023 % Change
$m $m Actual CER $m $m Actual CER
Reported Profit before tax 8,691 6,899 26 38 1,666 897 86 >2x
Net finance expense 1,284 1,282 - (3) 365 337 9 8
Joint ventures and associates 28 12 >2x >2x 5 - n/m n/m
Depreciation, amortisation and impairment 6,688 5,387 24 24 2,337 1,327 76 76
EBITDA 16,691 13,580 23 29 4,373 2,561 71 77
Table 11: Reconciliation of Reported to Core financial measures: FY 2024 8
(#_ftn8)
FY 2024 Reported Restructuring Intangible Asset Amortisation & Impairments Other Core Core
% Change
$m $m $m $m $m Actual CER
Gross profit 43,866 569 32 5 44,472 18 20
Product Sales Gross Margin 80% 81% -1pp -
Distribution expense (555) - - - (555) 3 5
R&D expense (13,583) 275 1,090 7 (12,211) 19 19
% of Total Revenue 25% 23% - -
SG&A expense (19,977) 312 4,286 351 (15,028) 9 11
% of Total Revenue 37% 28% +2pp +2pp
Total operating expense (34,115) 587 5,376 358 (27,794) 13 14
Other operating income & expense 252 (2) - - 250 (81) (81)
Operating profit 10,003 1,154 5,408 363 16,928 16 22
Operating Margin 18% 31% - -
Net finance expense (1,284) - - 115 (1,169) 19 15
Taxation (1,650) (219) (1,044) (88) (3,001) 31 38
EPS $4.54 $0.60 $2.82 $0.25 $8.21 13 19
Table 12: Reconciliation of Reported to Core financial measures: Q4 20248
Q4 2024 Reported Restructuring Intangible Asset Amortisation & Impairments Other Core Core
% Change
$m $m $m $m $m Actual CER
Gross profit 12,166 (86) 8 1 12,089 24 26
Product Sales Gross Margin 80% 79% -1pp -
Distribution expense (143) - - - (143) (1) 1
R&D expense (4,677) 54 1,052 (2) (3,573) 23 22
% of Total Revenue 31% 24% - +1pp
SG&A expense (5,410) 132 943 60 (4,275) 6 7
% of Total Revenue 36% 29% +5pp +5pp
Total operating expense (10,230) 186 1,995 58 (7,991) 13 13
Other operating income & expense 100 - - 1 101 (7) (6)
Operating profit 2,036 100 2,003 60 4,199 53 58
Operating Margin 14% 28% +5pp +6pp
Net finance expense (365) - - 55 (310) 20 20
Taxation (166) (30) (423) (21) (640) >2x >2x
EPS $0.97 $0.05 $1.02 $0.05 $2.09 44 49
Profit and Loss drivers
Gross profit
‒ The calculation of Reported and Core Product Sales Gross Margin
excludes the impact of Alliance Revenue and Collaboration Revenue
‒ The change in Product Sales Gross Margin (Reported and Core) in FY
2024 was impacted by:
‒ Positive effects from product mix. The increased contribution
from Rare Disease and Oncology medicines had a positive impact on the Product
Sales Gross Margin
‒ Dilutive effects from product mix. The rising contribution of
Product Sales with profit sharing arrangements (Lynparza, Enhertu, Tezspire,
Koselugo) has a negative impact on Product Sales Gross Margin because
AstraZeneca records Product Sales in certain markets and pays away a share of
the gross profits to its collaboration partners. The growth in Beyfortus also
has a dilutive impact on Product Sales Gross Margin, as AstraZeneca records
its sales of manufactured product to its distribution partner Sanofi as
Product Sales; those have a lower Product Sales Gross Margin than the Company
average
‒ Dilutive effects from geographic mix. In Emerging Markets, the
Product Sales Gross Margin tends to be below the Company
average
‒ The reported Product Sales Gross Margin included inventory and
related contract provisions of $529m related to Andexxa, which was part of the
PAAGR restructuring program (see Note 2 in the Notes to the Condensed
consolidated financial statements section)
‒ Variations in Product Sales 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 including Icosavax, Gracell, Fusion
and Amolyt
‒ The change in Reported R&D expense was also impacted by
intangible asset impairments in the year, including $753m recorded against the
vemircopan (ALXN2050) intangible asset
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
‒ The Reported SG&A expense included impairment charges of $504m
recorded against the Andexxa intangible asset
Other operating income and expense
‒ In the prior year period, Other operating income and expense
included a $241m gain on disposal of the US rights to Pulmicort Flexhaler and
a $712m gain relating to updated contractual arrangements for Beyfortus
Net finance expense
‒ Core Net finance expense increased 19% (15% increase at CER) due to
the increased level of debt and new debt issued at higher interest rates
Taxation
‒ The effective Reported and Core Tax rate for the twelve months to 31
December 2024 was 19% (FY 2023: 14% and 17% respectively)
‒ The cash tax paid for the twelve months to 31 December 2024 was
$2,750m (2023: $2,366m), representing 32% of Reported Profit before tax (2023:
34%)
Dividends
‒ A second interim dividend of $2.10 per share (168.0 pence, 22.96
SEK) has been declared, resulting in a full-year dividend per share of $3.10
(245.6 pence, 33.75 SEK)
‒ Dividend payments are normally paid as follows:
‒ First interim dividend - announced with half-year and second-quarter
results and paid in September
‒ Second interim dividend - announced with full-year and
fourth-quarter results and paid in March
‒ Provisional dates for the 2024 second interim dividend: ex-dividend
20 February 2025, record date 21 February 2025, payable on 24 March 2025.
Table 13: Cash Flow summary
FY 2024 FY 2023 Change
$m $m $m
Reported Operating profit 10,003 8,193 1,810
Depreciation, amortisation and impairment 6,688 5,387 1,301
Movement in working capital and short-term provisions (893) 300 (1,193)
Gains on disposal of intangible assets (64) (251) 187
Fair value movements on contingent consideration arising from 311 549 (238)
business combinations
Non-cash and other movements (121) (386) 265
Interest paid (1,313) (1,081) (232)
Taxation paid (2,750) (2,366) (384)
Net cash inflow from operating activities 11,861 10,345 1,516
Net cash inflow before financing activities 3,881 6,281 (2,400)
Net cash outflow from financing activities (3,996) (6,567) 2,571
The change in Net cash inflow before financing activities of $2,400m is
primarily driven by Acquisitions of subsidiaries, net of cash acquired of
$2,771m, and relates to the acquisition of Gracell Biotechnologies, Inc. for
$774m and acquisition of Fusion Pharmaceuticals Inc., for $1,997m as compared
to the acquisition of Neogene Therapeutics, Inc. for $189m in FY 2023.
The decrease in Net cash outflow from financing activities of $2,571m is
primarily driven by increased issuance of long-term loans of $6,492m in the
period compared to $3,816m issued in the comparative period.
Capital expenditure
Capital expenditure on tangible assets and Software-related intangible assets
amounted to $2,218m in FY 2024 (FY 2023: $1,516m). The increase of capital
expenditure in 2024 was driven by investment in several major manufacturing
projects and continued investment in technology upgrades.
Table 14: Net debt summary
At 31 At 31
Dec 2024 Dec 2023
$m $m
Cash and cash equivalents 5,488 5,840
Other investments 166 122
Cash and investments 5,654 5,962
Overdrafts and short-term borrowings (330) (515)
Lease liabilities (1,452) (1,128)
Current instalments of loans (2,007) (4,614)
Non-current instalments of loans (26,506) (22,365)
Interest-bearing loans and borrowings (Gross debt) (30,295) (28,622)
Net derivatives 71 150
Net debt (24,570) (22,510)
Net debt increased by $2,060m in the twelve months to 31 December 2024 to
$24,570m. 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 3.
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.
Capital allocation
The Company'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 Company 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.
Table 15: Obligor group summarised Statement of comprehensive income
FY 2024 FY 2023
$m $m
Total Revenue - -
Gross profit - -
Operating loss (34) (34)
Loss for the period (1,182) (976)
Transactions with subsidiaries that are not issuers or guarantors 1,661 15,660
Table 16: Obligor group summarised Statement of financial position
At 31 Dec 2024 At 31 Dec 2023
$m $m
Current assets 54 5
Non-current assets - -
Current liabilities (2,347) (4,856)
Non-current liabilities (26,603) (22,239)
Amounts due from subsidiaries that are not issuers or guarantors 18,272 18,421
Amounts due to subsidiaries that are not issuers or guarantors - -
Foreign exchange
The Company's transactional currency exposures on working capital balances,
which typically extend for up to three months, are hedged where practicable
using forward foreign exchange contracts against the individual companies'
reporting currency. Foreign exchange gains and losses on forward contracts
transacted for transactional hedging are taken to profit or to Other
comprehensive income if the contract is in a designated cashflow hedge. In
addition, the Company's external dividend payments, paid principally in pound
sterling and Swedish krona, are fully hedged from announcement to payment
date.
Table 17: Currency sensitivities
The Company provides the following information on currency sensitivity:
Average Annual impact ($m) of 5% weakening vs USD (FY 2025 average rate vs. FY 2024
average) (( 9 (#_ftn9) ))
rates vs. USD
Currency Primary Relevance FY YTD Change Jan 31 Change Total Revenue Core Operating Profit
2024 10 (#_ftn10)
2025 11 (#_ftn11)
2025 12 (#_ftn12)
(%) (%)
EUR Total Revenue 0.92 0.97 (4) 0.96 (4) (461) (232)
CNY Total Revenue 7.21 7.32 (2) 7.30 (1) (313) (171)
JPY Total Revenue 151.46 156.52 (3) 154.70 (2) (179) (121)
Other(( 13 (#_ftn13) )) (557) (289)
GBP Operating expense 0.78 0.81 (3) 0.80 (3) (68) 124
SEK Operating expense 10.57 11.09 (5) 11.02 (4) (9) 69
Sustainability
AstraZeneca was recognised by TIME as one of the World's Best Companies in
Sustainable Growth 2025, for its strong financial and environmental
performance.
Access to healthcare
‒ AstraZeneca ranked fifth overall in the Access to Medicine Index
(ATMI) 2024, an independent ranking of 20 of the world's largest
pharmaceutical companies evaluating efforts to improve access to medicines in
low and middle-income countries. AstraZeneca was ranked fourth in both
Governance of Access and Product Delivery, with ATMI recognising the Company's
best practice in reporting outcomes for its access strategies across different
countries' income classifications. The Company also performed well in Research
and Development, having the largest pipeline for non-communicable diseases of
all companies in scope
‒ By end of December 2024, the Company's flagship Healthy Heart Africa
programme had conducted more than 67.4 million blood pressure screenings,
identifying more than 12.9 million people with elevated blood pressure, and
diagnosing more than 5.3 million with high blood pressure, since launch in
2014
‒ The Company convened an event on health equity for investors and
analysts in November that detailed AstraZeneca's health equity strategy, which
is embedded from the Company's science through to healthcare delivery and
community engagement
‒ AstraZeneca also convened the second meeting of its Global Health
Equity Advisory Board, a group of 15 external stakeholders with representation
from 11 countries, to advise on the Company's approach to help improve
equitable health outcomes globally
‒ In November, the Company held its first lung health expert summit in
Philadelphia, US, bringing together medical experts and non-governmental
organisations (NGOs) to build alignment and consensus on more integrated and
equitable service models for patients with lung diseases
‒ During the fourth quarter of 2024, the Partnership for Health System
Sustainability and Resilience (PHSSR) launched three new country reports at
engagements with ministerial representation in Egypt, Malaysia and India. The
first PHSSR EU Expert Advisory Group workshop on sustainable healthcare
financing also took place, focusing on how to prioritise funding for
healthcare to improve patient access and outcomes, and enhance innovation
‒ The Young Health Programme (YHP) won Community Partnership of the
Year at the SCRIP Awards, in partnership with UNICEF. Now active in 41
countries, in 2024 the YHP directly reached 4.5 million young people, trained
more than 140,000 people and engaged more than 3,500 employee volunteers
Environmental protection
‒ At the end of 2024, the Company's cumulative reduction in Scope 1
and 2 greenhouse gas (GHG) emissions was 77.5% from the 2015 baseline
‒ Insights from CEO Pascal Soriot on climate risks and opportunities
were featured in a report from the World Economic Forum Alliance of CEO
Climate Leaders on The Cost of Inaction: A CEO Guide to Navigating Climate
Risk
‒ EVP Global Operations & IT and Chief Sustainability Officer Pam
Cheng was recognised on the TIME100 Climate 2024 list as a global climate
leader
‒ Reducing the carbon impact of pressurised metered dose inhalers is a
key product-related element of AstraZeneca's Ambition Zero Carbon strategy.
Regulatory filings for Breztri/Trixeo Aerosphere with an innovative,
next-generation propellant, with 99.9% lower Global Warming Potential than
propellants used in currently available inhaled medicines, were submitted to
the European Medicines Agency, in China, the UK and other countries
‒ Continued transition to electronic product information (ePI),
including in Brazil, where AstraZeneca helped launch the consultation for a
paperless pilot in partnership with the national regulator. In the EU, the
Company supported a workshop at the EU Patient Safety Conference 2024,
building on the upcoming introduction of ePI proposed in the revised EU
General Pharmaceutical Legislation
‒ In December, AstraZeneca became the first organisation to achieve
the new My Green Lab 2.0 Certification. The Company has over 129 lab spaces
certified in 15 countries, and 91 achieved the highest level of certification
- Green. My Green Lab is a key measure of progress recognised by the United
Nations Race to Zero campaign
Ethics and transparency
‒ In October 2024, AstraZeneca launched its annual mandatory Code of
Ethics awareness training, reminding employees of the Company's commitment to
high ethical standards across the enterprise. The training uses real-world
scenarios and provides a new Ethical Decision Making Model tool to help
employees think through ethical dilemmas
‒ The Company highlighted its Values on Global Ethics Day in October
through a range of global and local engagements. Employees were also invited
to complete the 2024 Global Ethics Survey to share their perspectives on how
the Company's Values are embedded
‒ The Company's annual 'Pulse' employee survey results published in
December 2024, showing that 87% of employees worldwide understand how they can
contribute to AstraZeneca's sustainability priorities
Research and development
This section covers R&D events and milestones that have occurred since the
prior results announcement on 12 November 2024, up to and including events on
5 February 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
(https://www.astrazeneca.com/investor-relations.html) . 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 American Society of Hematology 66th Annual Meeting and
Exposition and the San Antonio Breast Cancer Symposium 2024. Across the two
meetings, more than 100 abstracts were presented featuring 18 approved and
potential new medicines including 11 oral presentations.
Tagrisso
Event Commentary
Approval Europe For the treatment of adult patients with locally advanced, unresectable NSCLC
whose tumours have EGFR exon 19 deletions or exon 21 (L858R) substitution
mutations and whose disease has not progressed during or following
platinum-based chemoradiation therapy. (LAURA, December 2024)
Approval China For locally advanced, unresectable (stage III) NSCLC whose tumours have EGFR
exon 19 deletion or exon 21 (L858R) substitution mutation and whose disease
has not progressed during or following platinum‑based chemoradiation
therapy. (New disclosure, LAURA, January 2025)
Phase III trial readout NeoADAURA Tagrisso with or without chemotherapy demonstrated a statistically significant
and clinically meaningful improvement in the primary endpoint of major
pathologic response compared to neoadjuvant chemotherapy alone for patients
with resectable, early-stage (II, IIIA and IIIB) EGFRm NSCLC. There was also
an improvement in pathologic complete response and an early trend to event
free survival improvement vs neoadjuvant chemotherapy alone. The safety and
tolerability profiles for Tagrisso monotherapy and in combination with
chemotherapy, were consistent with the established profiles of each product.
The data will be presented at a forthcoming medical meeting. (New disclosure,
Q4 2024)
Imfinzi and Imjudo
Event Commentary
Approval Japan For advanced or recurrent endometrial cancer. (New disclosure, DUO-E, November
2024)
Approval US For limited-stage small cell lung cancer whose disease has not progressed
following concurrent platinum-based chemotherapy and radiation therapy.
(ADRIATIC, December 2024)
Priority Review US For the treatment of patients with muscle-invasive bladder cancer. (NIAGARA,
December 2024)
CHMP Opinion EU Recommended for approval for limited-stage small cell lung cancer whose
disease has not progressed following platinum-based chemoradiation therapy.
(ADRIATIC, January 2025)
k
Lynparza
Event Commentary
Approval Japan For maintenance treatment after treatment with platinum-based chemotherapy in
combination with Imfinzi (genetical recombination) in advanced or recurrent
endometrial cancer with pMMR. (New disclosure, DUO-E, November 2024)
Phase III presentation: SABCS OlympiA At a median follow-up of 6.1 years in eligible patients, who had completed
local treatment and standard neoadjuvant or adjuvant chemotherapy, results
showed Lynparza reduced the risk of death by 28% (HR 0.72; 95% CI 0.56-0.93)
versus placebo. In addition, 87.5% of patients treated with Lynparza remained
alive versus 83.2% of those on placebo. (December 2024)
Approval China For the adjuvant treatment of deleterious or suspected deleterious gBRCAm,
HER2-negative high risk early breast cancer who have been treated with
neoadjuvant or adjuvant chemotherapy. (New disclosure, OlympiA, December 2024)
Enhertu
Event Commentary
Approval US For unresectable or metastatic HR-positive, HER2-low (IHC 1+ or IHC 2+/ISH-)
or HER2-ultralow (IHC 0 with membrane staining) breast cancer, as determined
by a FDA-approved test, that has progressed on one or more endocrine therapies
in the metastatic setting. (DESTINY-Breast06, January 2026)
Calquence
Event Commentary
Phase III presentation: ASH AMPLIFY Calquence plus venetoclax reduced the risk of disease progression or death by
35% compared to standard-of-care chemoimmunotherapy (HR 0.65; 95% CI
0.49-0.87; p=0.0038). Calquence plus venetoclax with obinutuzumab demonstrated
a 58% reduction in the risk of disease progression or death compared to
standard-of-care chemoimmunotherapy (HR 0.42; 95% CI 0.30-0.59; p<0.0001).
Median PFS was not reached for either experimental arm versus median PFS of
47.6 months for chemoimmunotherapy. (December 2024)
Approval Japan Calquence tablets 100 mg for chronic lymphocytic leukaemia (including small
lymphocytic lymphoma) (New disclosure, December 2024)
Approval US Calquence in combination with bendamustine and rituximab for patients with
previously untreated mantle cell lymphoma who are ineligible for autologous
hematopoietic stem cell transplantation. (ECHO, January 2024)
Truqap
Event Commentary
Phase III trial readout CAPItello-281 Truqap in combination with abiraterone and androgen deprivation therapy
demonstrated a statistically significant and clinically meaningful improvement
in the primary endpoint of radiographic PFS versus abiraterone and ADT with
placebo in patients with PTEN-deficient de novo metastatic hormone-sensitive
prostate cancer. (November 2024)
Datroway (datopotamab deruxtecan)
Event Commentary
Regulatory update Europe Voluntary withdrawal of marketing authorisation application for the treatment
of adult patients with locally advanced or metastatic non-squamous NSCLC.
(TROPION-Lung01, December 2024)
Approval Japan For unresectable or metastatic HR-positive, HER2-negative breast cancer who
have received prior endocrine-based therapy and chemotherapy for unresectable
or metastatic disease. (New disclosure, TROPION-Breast01, December 2025)
Priority Review US For locally advanced or metastatic EGFRm NSCLC who have received prior
systemic therapies, including an EGFR-directed therapy. (TROPION-Lung05,
TROPION-Lung01, TROPION-PanTumor01, January 2025)
Approval US For unresectable or metastatic HR-positive, HER2-negative breast cancer who
have received prior endocrine-based therapy and chemotherapy for unresectable
or metastatic disease. (TROPION-Breast01, January 2025)
CHMP opinion EU Recommended for approval for unresectable or metastatic HR-positive,
HER2-negative breast cancer who have received endocrine therapy and at least
an additional line of chemotherapy in the advanced setting. (New disclosure,
TROPION-Breast01, January 2025)
Orpathys
Event Commentary
Approval China For locally advanced or metastatic non-small cell lung cancer with MET exon 14
skipping alteration. (New disclosure, NCT04923945, January 2025)
BioPharmaceuticals - CVRM
Andexxa
Event Commentary
Regulatory update US The US FDA issued a CRL regarding the supplemental Biologics License
Application to convert Andexxa to traditional approval. (November 2024)
BioPharmaceuticals - R&I
Breztri
Event Commentary
Regulatory submission NGP Regulatory submissions for Breztri with the next-generation propellant have
been accepted in the UK and China. (New disclosure, November 2024, December
2024)
Fasenra
Event Commentary
Approval Japan For the treatment of adult patients with eosinophilic granulomatosis with
polyangiitis. (New disclosure, MANDARA, December 2024)
Approval Europe As an add-on treatment for adult patients with relapsing or refractory
eosinophilic granulomatosis with polyangiitis. (New disclosure, MANDARA,
October 2024)
BioPharmaceuticals - V&I
Kavigale
Event Commentary
Approval Japan For the pre-exposure prophylaxis (prevention) of COVID-19 in
immune-compromised individuals aged 12 years or older. (New disclosure,
SUPERNOVA, December 2024)
Approval Europe For the pre-exposure prophylaxis (prevention) of COVID-19 in
immune-compromised individuals aged 12 years or older. (New disclosure,
SUPERNOVA, January 2025)
Condensed consolidated financial statements
Table 18: Condensed consolidated statement of comprehensive income: FY 2024
For the twelve months ended 31 December 2024 2023
$m $m
Total Revenue 54,073 45,811
Product Sales 50,938 43,789
Alliance Revenue 2,212 1,428
Collaboration Revenue 923 594
Cost of sales (10,207) (8,268)
Gross profit 43,866 37,543
Distribution expense (555) (539)
Research and development expense (13,583) (10,935)
Selling, general and administrative expense (19,977) (19,216)
Other operating income and expense 252 1,340
Operating profit 10,003 8,193
Finance income 458 344
Finance expense (1,742) (1,626)
Share of after tax losses in associates and joint ventures (28) (12)
Profit before tax 8,691 6,899
Taxation (1,650) (938)
Profit for the period 7,041 5,961
Other comprehensive income:
Items that will not be reclassified to profit or loss:
Remeasurement of the defined benefit pension liability 80 (406)
Net gains on equity investments measured at fair value through other 139 278
comprehensive income
Fair value movements related to own credit risk on bonds designated as fair 12 (6)
value through profit or loss
Tax on items that will not be reclassified to profit or loss (43) 101
188 (33)
Items that may be reclassified subsequently to profit or loss:
Foreign exchange arising on consolidation (957) 608
Foreign exchange arising on designated liabilities in net investment hedges (122) 24
Fair value movements on cash flow hedges (129) 266
Fair value movements on cash flow hedges transferred to profit and loss 177 (145)
Fair value movements on derivatives designated in net investment hedges 39 44
Costs of hedging (21) (19)
Tax on items that may be reclassified subsequently to profit or loss 25 (12)
(988) 766
Other comprehensive (expense)/income, net of tax (800) 733
Total comprehensive income for the period 6,241 6,694
Profit attributable to:
Owners of the Parent 7,035 5,955
Non-controlling interests 6 6
7,041 5,961
Total comprehensive income attributable to:
Owners of the Parent 6,236 6,688
Non-controlling interests 5 6
6,241 6,694
Basic earnings per $0.25 Ordinary Share $4.54 $3.84
Diluted earnings per $0.25 Ordinary Share $4.50 $3.81
Weighted average number of Ordinary Shares in issue (millions) 1,550 1,549
Diluted weighted average number of Ordinary Shares in issue (millions) 1,563 1,562
Table 19: Condensed consolidated statement of comprehensive income: Q4 2024
For the quarter ended 31 December
2024 2023
$m $m
Total Revenue 14,891 12,024
Product Sales 13,362 11,323
Alliance Revenue 714 424
Collaboration Revenue 815 277
Cost of sales (2,725) (2,308)
Gross profit 12,166 9,716
Distribution expense (143) (145)
Research and development expense (4,677) (3,073)
Selling, general and administrative expense (5,410) (5,371)
Other operating income and expense 100 107
Operating profit 2,036 1,234
Finance income 64 108
Finance expense (429) (445)
Share of after tax losses in associates and joint ventures (5) -
Profit before tax 1,666 897
Taxation (166) 62
Profit for the period 1,500 959
Other comprehensive income:
Items that will not be reclassified to profit or loss:
Remeasurement of the defined benefit pension liability (56) (405)
Net (losses)/gains on equity investments measured at fair value through other (125) 233
comprehensive income
Fair value movements related to own credit risk on bonds designated as fair - (11)
value through profit or loss
Tax on items that will not be reclassified to profit or loss 7 101
(174) (82)
Items that may be reclassified subsequently to profit or loss:
Foreign exchange arising on consolidation (1,500) 809
Foreign exchange arising on designated liabilities in net investment hedges (38) 87
Fair value movements on cash flow hedges (87) 204
Fair value movements on cash flow hedges transferred to profit and loss 176 (173)
Fair value movements on derivatives designated in net investment hedges 26 (3)
Costs of hedging (23) (16)
Tax on items that may be reclassified subsequently to profit or loss 9 (5)
(1,437) 903
Other comprehensive (expense)/income, net of tax (1,611) 821
Total comprehensive (expense)/income for the period (111) 1,780
Profit attributable to:
Owners of the Parent 1,500 960
Non-controlling interests - (1)
1,500 959
Total comprehensive income attributable to:
Owners of the Parent (110) 1,781
Non-controlling interests (1) (1)
(111) 1,780
Basic earnings per $0.25 Ordinary Share $0.97 $0.62
Diluted earnings per $0.25 Ordinary Share $0.96 $0.62
Weighted average number of Ordinary Shares in issue (millions) 1,550 1,549
Diluted weighted average number of Ordinary Shares in issue (millions) 1,562 1,561
Table 20: Condensed consolidated statement of financial position
At 31 Dec At 31 Dec
2024 2023
$m $m
Assets
Non-current assets
Property, plant and equipment 10,252 9,402
Right-of-use assets 1,395 1,100
Goodwill 21,025 20,048
Intangible assets 37,177 38,089
Investments in associates and joint ventures 268 147
Other investments 1,632 1,530
Derivative financial instruments 182 228
Other receivables 930 803
Deferred tax assets 5,347 4,718
78,208 76,065
Current assets
Inventories 5,288 5,424
Trade and other receivables 12,972 12,126
Other investments 166 122
Derivative financial instruments 54 116
Income tax receivable 1,859 1,426
Cash and cash equivalents 5,488 5,840
25,827 25,054
Total assets 104,035 101,119
Liabilities
Current liabilities
Interest-bearing loans and borrowings (2,337) (5,129)
Lease liabilities (339) (271)
Trade and other payables (22,465) (22,374)
Derivative financial instruments (50) (156)
Provisions (1,269) (1,028)
Income tax payable (1,406) (1,584)
(27,866) (30,542)
Non-current liabilities
Interest-bearing loans and borrowings (26,506) (22,365)
Lease liabilities (1,113) (857)
Derivative financial instruments (115) (38)
Deferred tax liabilities (3,305) (2,844)
Retirement benefit obligations (1,330) (1,520)
Provisions (921) (1,127)
Income tax payable (238) -
Other payables (1,770) (2,660)
(35,298) (31,411)
Total liabilities (63,164) (61,953)
Net assets 40,871 39,166
Share capital 388 388
Share premium account 35,226 35,188
Other reserves 2,012 2,065
Retained earnings 3,160 1,502
40,786 39,143
Non-controlling interests 85 23
Total equity 40,871 39,166
Table 21: 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 2023 387 35,155 2,069 (574) 37,037 21 37,058
Profit for the period - - - 5,955 5,955 6 5,961
Other comprehensive income - - - 733 733 - 733
Transfer to other reserves - - (4) 4 - - -
Transactions with owners
Dividends - - - (4,487) (4,487) - (4,487)
Dividends paid to non-controlling interests - - - - - (4) (4)
Issue of Ordinary Shares 1 33 - - 34 - 34
Share-based payments charge for the period - - - 579 579 - 579
Settlement of share plan awards - - - (708) (708) - (708)
Net movement 1 33 (4) 2,076 2,106 2 2,108
At 31 Dec 2023 388 35,188 2,065 1,502 39,143 23 39,166
At 1 Jan 2024 388 35,188 2,065 1,502 39,143 23 39,166
Profit for the period - - - 7,035 7,035 6 7,041
Other comprehensive expense - - - (799) (799) (1) (800)
Transfer to other reserves - - 15 (15) - - -
Transactions with owners
Dividends - - - (4,602) (4,602) - (4,602)
Dividends paid to non-controlling interests - - - - - (4) (4)
Issue of Ordinary Shares - 38 - - 38 - 38
Changes in non-controlling interests - - - - - 61 61
Movement in shares held by Employee Benefit Trusts - - (68) - (68) - (68)
Share-based payments charge for the period - - - 660 660 - 660
Settlement of share plan awards - - - (621) (621) - (621)
Net movement - 38 (53) 1,658 1,643 62 1,705
At 31 Dec 2024 388 35,226 2,012 3,160 40,786 85 40,871
Table 22: Condensed consolidated statement of cash flows:
For the twelve months ended 31 December 2024 2023
$m $m
Cash flows from operating activities
Profit before tax 8,691 6,899
Finance income and expense 1,284 1,282
Share of after tax losses of associates and joint ventures 28 12
Depreciation, amortisation and impairment 6,688 5,387
Movement in working capital and short-term provisions (893) 300
Gains on disposal of intangible assets (64) (251)
Fair value movements on contingent consideration arising from business 311 549
combinations
Non-cash and other movements (121) (386)
Cash generated from operations 15,924 13,792
Interest paid (1,313) (1,081)
Tax paid (2,750) (2,366)
Net cash inflow from operating activities 11,861 10,345
Cash flows from investing activities
Acquisition of subsidiaries, net of cash acquired (2,771) (189)
Payments upon vesting of employee share awards attributable to business (3) (84)
combinations
Payment of contingent consideration from business combinations (1,008) (826)
Purchase of property, plant and equipment (1,924) (1,361)
Disposal of property, plant and equipment 55 132
Purchase of intangible assets (2,662) (2,417)
Disposal of intangible assets 123 291
Movement in profit-participation liability - 190
Purchase of non-current asset investments (96) (136)
Disposal of non-current asset investments 78 32
Movement in short-term investments, fixed deposits and other investing 30 97
instruments
Payments to associates and joint ventures (158) (80)
Disposal of investments in associates and joint ventures 13 -
Interest received 343 287
Net cash outflow from investing activities (7,980) (4,064)
Net cash inflow before financing activities 3,881 6,281
Cash flows from financing activities
Proceeds from issue of share capital 38 33
Own shares purchased by Employee Benefit Trusts (81) -
Issue of loans and borrowings 6,492 3,816
Repayment of loans and borrowings (4,652) (4,942)
Dividends paid (4,629) (4,481)
Hedge contracts relating to dividend payments 16 (19)
Repayment of obligations under leases (316) (268)
Movement in short-term borrowings (31) 161
Payment of Acerta Pharma share purchase liability (833) (867)
Net cash outflow from financing activities (3,996) (6,567)
Net decrease in Cash and cash equivalents in the period (115) (286)
Cash and cash equivalents at the beginning of the period 5,637 5,983
Exchange rate effects (93) (60)
Cash and cash equivalents at the end of the period 5,429 5,637
Cash and cash equivalents consist of:
Cash and cash equivalents 5,488 5,840
Overdrafts (59) (203)
5,429 5,637
Notes to the Condensed consolidated financial statements
Note 1: Basis of preparation and accounting policies
These Condensed consolidated financial statements for the twelve months ended
31 December 2024 have been prepared in accordance with UK-adopted
international accounting standards and with the requirements of the Companies
Act 2006 as applicable to companies reporting under those standards. The
Condensed consolidated financial statements also comply fully with IFRS
Accounting Standards as issued by the International Accounting Standards Board
(IASB) and International Accounting Standards as adopted by the European
Union.
These Condensed consolidated financial statements comprise the financial
results of AstraZeneca PLC for the years to 31 December 2024 and 2023 together
with the Statement of financial position as at 31 December 2024 and 2023. The
results for the year to 31 December 2024 have been extracted from the 31
December 2024 audited consolidated financial statements which have been
approved by the Board of Directors. These have not yet been delivered to the
Registrar of Companies but are expected to be published on 18 February 2025
within the Annual Report and Form 20-F Information 2024.
The financial information set out above does not constitute the Group's
statutory accounts for the years to 31 December 2024 or 2023 but is derived
from these accounts. The auditors have reported on those accounts: their
reports (i) were 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 in respect of the accounts for the year to 31
December 2024 or for 31 December 2023. Statutory accounts for the year to 31
December 2024 were approved by the Board of Directors for release on 6
February 2025.
Amendments to accounting standards issued by the IASB and adopted in the year
ended 31 December 2024 did not have a material impact on the result or
financial position of the Group and the Condensed consolidated 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 2023.
The comparative figures for the financial year ended 31 December 2023 are not
the Group's statutory accounts for that financial year. Those accounts have
been reported on by the Group's auditors and have been 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.
Going concern
The Group has considerable financial resources available. As at 31 December
2024, the Group has $10.4bn in financial resources (cash and cash equivalent
balances of $5.5bn and undrawn committed bank facilities of $4.9bn that were
available until April 2029), with $2.7bn of borrowings due within one year.
These facilities contain no financial covenants, and in January 2025 their
maturity was extended to April 2030.
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 Condensed consolidated financial
statements.
Legal proceedings
The information contained in Note 6 updates the disclosures concerning legal
proceedings and contingent liabilities in the Group's Annual Report and Form
20-F Information 2023.
(https://www.astrazeneca.com/content/dam/az/Investor_Relations/annual-report-2023/pdf/AstraZeneca_AR_2023.pdf)
Employee Benefit Trusts
Following an amendment to the Employee Benefit Trust (EBT) Deed on 10 June
2024, AstraZeneca obtained control and commenced consolidation of the EBT from
June 2024. From that date, cash paid on purchases of AstraZeneca Ordinary
shares or American Depositary Receipts is presented within Financing
activities in the Condensed consolidated statement of cash flows.
Note 2: Intangible assets
In accordance with IAS 36 'Impairment of Assets', reviews for triggers of
impairment or impairment reversals at an individual asset or cash generating
unit level were conducted, and impairment tests carried out where triggers
were identified. In 2024, the Group recorded impairment charges of $504m in
respect of launched products. Following a strategic review of our portfolio
priorities, the business decision was made to cease promotional activity for
Andexxa resulting in impairment charges of $504m recorded against the Andexxa
intangible asset under a value-in-use model applying a discount rate of 7.5%
(revised carrying amount: $nil).
Impairment charges recorded against products in development totalled $1,073m.
This included vemircopan (ALXN2050) (acquired as part of the Alexion business
combination in 2021 - $753m) which was terminated, the decision was based on
safety and efficacy data from Phase II trials across multiple indications. In
December 2024, the intangible asset relating to the product in development,
FPI-2059, was fully impaired by $165m due to portfolio prioritisation
decisions. Development of FPI-2265 and AZD2068 are still ongoing and continue
to be a priority. The remaining impairments of $155m relate to impairments of
various products in development, due to either management's decision to
discontinue development as part of Group-wide portfolio prioritisation
decisions, or due to the outcome of research activities.
Icosavax
The acquisition of Icosavax, Inc. completed on 19 February 2024. The
transaction is recorded as an asset acquisition based on the concentration
test permitted under IFRS 3 'Business Combinations', with consideration of
$841m principally relating to $639m of intangible assets, $141m of cash and
cash equivalents and $51m of marketable securities. Contingent consideration
of up to $300m could be paid on achievement of regulatory and sales
milestones; these potential liabilities would be recorded when the relevant
recognition event for a regulatory or sales milestone is achieved.
Amolyt
The acquisition of Amolyt Pharma completed on 15 July 2024. The transaction is
recorded as an asset acquisition based on the concentration test permitted
under IFRS 3 'Business Combinations', with consideration of $857m principally
relating to $800m of intangible assets and $98m of cash and cash equivalents.
Contingent consideration of up to $250m could be paid on achievement of a
regulatory milestone; this potential liability would be recorded when the
relevant recognition event for a regulatory milestone is achieved.
Note 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 28 of the Annual Report and
Form 20-F Information 2023
(https://www.astrazeneca.com/content/dam/az/Investor_Relations/annual-report-2023/pdf/AstraZeneca_AR_2023.pdf)
. Net debt is a non-GAAP financial measure.
Table 23: Net debt
At 1 Jan 2024 Cash flow Acquisitions Non-cash Exchange movements At 31 Dec 2024
& other
$m $m $m $m $m $m
Non-current instalments of loans (22,365) (6,498) (3) 2,081 279 (26,506)
Non-current instalments of leases (857) - (12) (275) 31 (1,113)
Total long-term debt (23,222) (6,498) (15) 1,806 310 (27,619)
Current instalments of loans (4,614) 4,590 (9) (2,001) 27 (2,007)
Current instalments of leases (271) 374 (6) (450) 14 (339)
Collateral received from derivative counterparties (215) 34 - - - (181)
Other short-term borrowings excluding overdrafts (97) (3) - - 10 (90)
Overdrafts (203) 144 - - - (59)
Total current debt (5,400) 5,139 (15) (2,451) 51 (2,676)
Gross borrowings (28,622) (1,359) (30) (645) 361 (30,295)
Net derivative financial instruments 150 41 - (120) - 71
Net borrowings (28,472) (1,318) (30) (765) 361 (30,224)
Cash and cash equivalents 5,840 (501) 242 - (93) 5,488
Other investments - current 122 (30) 87 - (13) 166
Cash and investments 5,962 (531) 329 - (106) 5,654
Net debt (22,510) (1,849) 299 (765) 255 (24,570)
Net debt increased by $2,060m in the twelve months to 31 December 2024 to
$24,570m. 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'.
In February 2024, AstraZeneca issued the following:
‒ $1,250m of fixed-rate notes with a coupon of 4.8% maturing in
February 2027
‒ $1,250m of fixed-rate notes with a coupon of 4.85% maturing in
February 2029
‒ $1,000m of fixed-rate notes with a coupon of 4.9% maturing in
February 2031
‒ $1,500m of fixed-rate notes with a coupon of 5% maturing in
February 2034
In August 2024, AstraZeneca issued the following:
‒ Û650m of fixed-rate notes with a coupon of 3.121% maturing in
August 2030
‒ Û750m of fixed-rate notes with a coupon of 3.278% maturing in
August 2033
Each of the above notes were issued by AstraZeneca Finance LLC and are fully
and unconditionally guaranteed by AstraZeneca PLC.
AstraZeneca repaid two bonds with a total carrying value of $2,569m and
floating rate bank loans of $2,000m during the twelve months which is included
in the cash outflow from Repayment of loans and borrowings of $4,652m.
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 December 2024 was $181m (31 December 2023: $215m) and the
carrying value of such cash collateral posted by the Group at 31 December 2024
was $129m (31 December 2023: $102m).
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 above and includes the Acerta
Pharma share purchase liability of $nil (31 December 2023: $833m).
During the quarter ended 31 December 2024, there have been no changes to the
Company's solicited long term credit ratings. Moody's credit rating were long
term: A2; short term: P-1. Standard and Poor's credit ratings were long term:
A+; short term: A-1.
Note 4: 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 $353m (31 December 2023: $313m) and
for which a fair value loss of $9m has been recognised in the twelve months
ended 31 December 2024 (FY 2023: gains of $17m). 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 twelve months
ended 31 December 2024, are Level 1 fair value measurements, valued based on
quoted prices in active markets.
Financial instruments measured at fair value include $1,669m of other
investments, $4,177m held in money-market funds and $71m of derivatives as at
31 December 2024. With the exception of derivatives being Level 2 fair valued,
and certain equity instruments of $353m categorised as Level 3, the
aforementioned balances are Level 1 fair valued. Financial instruments
measured at amortised cost include $129m of cash collateral pledged to
counterparties. The total fair value of Interest-bearing loans and borrowings
as at 31 December 2024, which have a carrying value of $30,295m in the
Condensed consolidated statement of financial position, was $29,179m.
Table 24: Financial instruments - contingent consideration
2024 2023
Diabetes alliance Other Total Total
$m $m $m $m
At 1 January 1,945 192 2,137 2,222
Additions through business combinations - 198 198 60
Settlements (998) (10) (1,008) (826)
Revaluations 260 51 311 549
Discount unwind 102 11 113 132
On 31 December 1,309 442 1,751 2,137
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 $1,309m (31 December 2023: $1,945m) would
increase/decrease by $131m with an increase/decrease in sales of 10%, as
compared with the current estimates.
Note 5: Business combinations
Gracell
On 22 February 2024, AstraZeneca completed the acquisition of Gracell
Biotechnologies Inc. (Gracell), a global clinical-stage biopharmaceutical
company developing innovative cell therapies for the treatment of cancer and
autoimmune diseases.
The purchase price allocation review has been completed with no changes to the
amounts reported in the H1 and Q2 2024 results announcement. The transaction
is recorded as a business combination using the acquisition method of
accounting in accordance with IFRS 3 'Business Combinations'.
The total consideration fair value of $1,037m includes cash consideration of
$983m and future regulatory milestone-based consideration of $54m. Intangible
assets recognised relate to products in development, principally AZD0120.
Goodwill of $136m has been recognised. Gracell's results have been
consolidated into the Group's results from 22 February 2024.
Fusion
On 4 June 2024, AstraZeneca completed the acquisition of Fusion
Pharmaceuticals Inc., (Fusion) a clinical-stage biopharmaceutical company
developing next-generation radioconjugates.
The purchase price allocation review has been completed with no changes to the
amounts reported in the H1 and Q2 2024 results announcement. The transaction
is recorded as a business combination using the acquisition method of
accounting in accordance with IFRS 3 'Business Combinations'.
The total consideration fair value of $2,195m includes cash consideration of
$2,051m and future regulatory milestone-based consideration of $144m.
Intangible assets relating to products in development comprise the FPI-2265
($848m), FPI-2059 ($165m) and AZD2068 ($313m) programmes. Goodwill of $947m
has been recognised. Fusion's results have been consolidated into the Group's
results from 4 June 2024.
In December 2024, the intangible asset relating to the product in development,
FPI-2059, was fully impaired by $165m due to portfolio prioritisation
decisions. Development of FPI-2265 and AZD2068 are still ongoing and continue
to be a priority.
Note 6: 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 the Company's Annual Report
and Form 20-F Information 2023, the H1 2024 and the Q3 2024 results
announcements (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 Company made, and upon which the Company 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 fourth quarter of 2024 and to 6 February
2025
Table 25: Patent litigation
Legal proceedings brought against AstraZeneca
Soliris patent proceedings, Turkey * In November 2024, Salute HC İlalarõ Sanayi ve Ticaret A.Ş (Salute)
served an action in the Industrial and Intellectual Property Rights Court in
Istanbul, Turkey seeking to invalidate and enjoin enforcement of Alexion's
patent relating to eculizumab.
Considered to be a contingent liability
Legal proceedings brought by AstraZeneca
Calquence patent proceedings, US * In February 2022, in response to Paragraph IV notices from multiple ANDA
filers, AstraZeneca filed patent infringement lawsuits in the US District
Court for the District of Delaware (District Court). In its complaints,
AstraZeneca alleged that a generic version of Calquence capsules, if approved
Considered to be a contingent asset and marketed, would infringe patents that are owned or licensed by
AstraZeneca.
* In 2024, AstraZeneca entered into settlement agreements with all five
generic manufacturers, resolving the Calquence capsule ANDA litigation
proceedings.
* AstraZeneca received Paragraph IV notices relating to patents listed in
the FDA Orange Book with reference to Calquence tablets from Cipla USA, Inc.
and Cipla Limited (collectively, Cipla) in April 2024 and from MSN
Pharmaceuticals Inc. and MSN Laboratories Pvt. Ltd. (collectively, MSN) in
November 2024.
* In response to these Paragraph IV notices, AstraZeneca filed patent
infringement lawsuits against Cipla in May 2024 and against MSN in January
2025 in the District Court. In the complaints, AstraZeneca alleges that a
generic version of Calquence tablets, if approved and marketed, would infringe
patents that are owned or licensed by AstraZeneca. No trial date has been
scheduled.
Lynparza patent proceedings, US * AstraZeneca received a Paragraph IV notice relating to Lynparza patents
from Natco Pharma Limited (Natco) in December 2022, Sandoz Inc. (Sandoz) in
December 2023, Cipla USA, Inc. and Cipla Limited (collectively, Cipla) in May
2024, and Zydus Pharmaceuticals (USA) Inc. (Zydus) in November 2024. In
Considered to be a contingent asset response to these Paragraph IV notices, AstraZeneca, MSD International
Business GmbH, and the University of Sheffield initiated ANDA litigations
against Natco, Sandoz, Cipla, and Zydus in the US District Court for the
District of New Jersey. In the complaints, AstraZeneca alleged that the
defendants' generic versions of Lynparza, if approved and marketed, would
infringe AstraZeneca's patents.
* No trial date has been scheduled.
Soliris patent proceedings, Europe * In March 2024, Alexion filed motions for provisional measures against
Amgen Pharmaceuticals Inc (Amgen) and Samsung Bioepis Co. Ltd. (Samsung) and
their respective affiliates at the Hamburg Local Division of the Unified
Patent Court (UPC) on the basis that Amgen's and Samsung's biosimilar
Considered to be a contingent asset eculizumab products infringe an Alexion patent. Alexion appealed and in
December 2024 the UPC appellate division denied Alexion's appeal requesting
provisional measures.
* In parallel, Samsung and Amgen have filed oppositions to the patent at
the European Patent Office.
* In November 2024, Amgen filed a revocation action for the patent at the
UPC Central Division in Milan.
Tagrisso patent proceedings, Russia * In Russia, in August 2023, AstraZeneca filed lawsuits in the Arbitration
Court of the Moscow Region (Court) against the Ministry of Health of the
Russian Federation and Axelpharm LLC (Axelpharm) related to Axelpharm's
improper use of AstraZeneca's information to obtain authorisation to market a
Considered to be a contingent asset generic version of Tagrisso. In December 2023, the Court dismissed the lawsuit
against the Ministry of Health of the Russian Federation. The appellate court
affirmed the dismissal in March 2024. AstraZeneca filed a further appeal,
which was dismissed in July 2024. The lawsuit against Axelpharm was dismissed
in September 2024, and AstraZeneca appealed.
* In November 2023, Axelpharm filed a compulsory licensing action against
AstraZeneca in the Court related to a patent that covers Tagrisso. The
compulsory licensing action remains pending. AstraZeneca has also challenged
before the Russian Patent and Trademark Office (PTO) the validity of the
Axelpharm patent on which the compulsory licensing action is predicated. In
August 2024, the PTO determined that Axelpharm's patent is invalid and, in
November 2024, Axelpharm filed an appeal.
* In July 2024, AstraZeneca filed a patent infringement lawsuit, which
remains pending, and an unfair competition claim with the Federal
Anti-Monopoly Service of Russia (FAS) against AxelPharm and others related to
the securing of state contracts in Russia for its generic version of
Osimertinib.
* In August 2024, the FAS initiated an unfair competition case against
Axelpharm and OncoTarget based on AstraZeneca's unfair competition claim.
* In November 2024, the FAS determined that Axelpharm had committed unfair
competition and that OncoTarget had not; the FAS ordered Axelpharm to cease
sales of its generic osimertinib and pay the Russian government the income it
received from its sales of its generic Osimertinib. In December 2024,
Axelpharm appealed.
Table 26: Product liability litigation
Legal proceedings brought against AstraZeneca
Nexium and Prilosec, US * AstraZeneca has been defending lawsuits brought in federal and state
courts involving claims that plaintiffs have been diagnosed with various
injuries following treatment with proton pump inhibitors (PPIs), including
Nexium and Prilosec. Most of the lawsuits alleged kidney injury.
A provision has been taken
* In addition, AstraZeneca has been defending lawsuits involving
allegations of gastric cancer following treatment with PPIs, including one
such claim in the US District Court for the Middle District of Louisiana
(District Court).
* In October 2023, AstraZeneca resolved all pending claims in the MDL, as
well as all pending claims in Delaware and New Jersey state courts, for $425m,
for which a provision has been taken.
* In December 2024, AstraZeneca resolved the sole remaining case, which
had been pending in the District Court.
Table 27: Commercial litigation
Legal proceedings brought against AstraZeneca
Securities Litigation, US * In December 2024, a putative securities class action lawsuit was filed
in the US District Court for the Central District of California against
AstraZeneca PLC and certain officers, on behalf of purchasers of AstraZeneca
publicly traded securities between February 2022 and December 2024. The
Considered to be a contingent liability complaint alleges that defendants made materially false and misleading
statements in connection with the Company's business in China.
Table 28: Government investigations and proceedings
Legal proceedings brought against AstraZeneca
Shenzhen City Customs Office * In relation to the illegal drug importation allegations, in January
2025, AstraZeneca received a Notice of Transfer to the Prosecutor and an
Appraisal Opinion from the Shenzhen City Customs Office regarding suspected
unpaid importation taxes amounting to $0.9m.
Considered to be a contingent liability
* To the best of AstraZeneca's knowledge, the importation taxes referred
to in the Appraisal Opinion relate to Imfinzi and Imjudo.
* A fine of between one and five times the amount of unpaid importation
taxes may also be levied if AstraZeneca is found liable.
Legal proceedings brought by AstraZeneca
340B State Litigation, US * AstraZeneca has filed lawsuits against Arkansas, Kansas, Louisiana,
Maryland, Minnesota, Mississippi, Missouri, and West Virginia challenging the
constitutionality of each state's 340B statute.
Considered to be a contingent asset * In the Arkansas matter, trial is scheduled for April 2025. In the
Arkansas administrative proceeding, the state has moved for a preliminary
injunction to enjoin AstraZeneca's 340B policy in Arkansas.
* In the Kansas matter, 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 the Louisiana matter, the Court granted the state's motion for
summary judgment. AstraZeneca has filed an appeal.
* In the Maryland, Minnesota, and Missouri matters, the state has moved to
dismiss AstraZeneca's complaint.
* In the Maryland and Mississippi matters, the Court has rejected
AstraZeneca's preliminary injunction motion.
* The West Virginia matter remains in its preliminary stages.
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 8
Table 29: FY 2024 - Product Sales year-on-year analysis
14 (#_ftn14)
CER information in respect of FY 2024 included in the Consolidated Financial
Information has not been audited by PricewaterhouseCoopers LLP.
World US Emerging Markets Europe Established RoW
$m Act % chg CER % chg $m % chg $m Act % chg CER % chg $m Act % chg CER % chg $m Act % chg CER % chg
Oncology 20,275 18 21 9,510 23 4,502 18 28 4,082 23 22 2,181 (4) 2
Tagrisso 6,580 13 16 2,763 21 1,755 8 16 1,301 16 15 761 (3) 4
Imfinzi 4,717 17 21 2,603 20 479 35 59 948 28 27 687 (8) (2)
Calquence 3,129 24 25 2,190 21 153 56 79 656 33 32 130 20 22
Lynparza 3,072 9 11 1,332 6 655 21 30 832 13 12 253 (10) (5)
Enhertu 545 n/m n/m - - 350 n/m n/m 126 n/m n/m 69 n/m n/m
Zoladex 1,058 11 17 16 14 795 16 23 148 12 10 99 (16) (12)
Imjudo 281 29 31 180 23 16 n/m n/m 36 n/m n/m 49 (5) 2
Truqap 430 n/m n/m 408 n/m 2 n/m n/m 12 n/m n/m 8 n/m n/m
Orpathys 44 (1) 1 - - 44 (1) 1 - - - - - -
Others 419 (19) (14) 18 (51) 253 (18) (12) 23 (30) (30) 125 (13) (6)
BioPharmaceuticals: CVRM 12,448 18 20 3,075 12 5,339 16 22 3,270 31 30 764 3 9
Farxiga 7,656 28 31 1,750 21 2,853 29 35 2,634 40 39 419 - 6
Brilinta 1,333 1 2 751 1 294 3 10 268 (1) (2) 20 (17) (16)
Crestor 1,153 4 8 46 (16) 934 8 12 37 (29) (30) 136 (2) 5
Seloken/Toprol-XL 605 (5) - - (42) 589 (5) - 13 13 12 3 (53) (44)
Lokelma 542 32 34 256 20 86 73 79 92 59 58 108 20 29
Roxadustat 331 22 24 - - 331 22 24 - - - - - -
Andexxa 219 20 22 81 7 3 n/m n/m 80 30 28 55 22 31
Wainua 85 n/m n/m 85 n/m - - - - - - - - -
Others 524 (24) (22) 106 (50) 249 (13) (9) 146 (13) (12) 23 18 20
BioPharmaceuticals: R&I 7,416 21 23 3,416 34 1,897 7 13 1,416 22 21 687 10 14
Symbicort 2,879 22 25 1,187 63 805 7 16 559 2 1 328 (2) -
Fasenra 1,689 9 9 1,049 6 92 44 55 404 14 13 144 1 6
Pulmicort 682 (4) (1) 6 (77) 568 (1) 3 71 5 3 37 (12) (10)
Breztri 978 44 46 516 35 245 52 57 143 78 77 74 41 47
Tezspire 248 n/m n/m - - 11 n/m n/m 156 n/m n/m 81 n/m n/m
Saphnelo 474 69 70 425 63 7 n/m n/m 26 n/m n/m 16 69 80
Airsupra 66 n/m n/m 66 n/m - - - - - - - - -
Others 400 (8) (7) 167 7 169 (21) (20) 57 5 4 7 (8) (4)
BioPharmaceuticals: V&I 1,058 5 6 280 n/m 213 1 9 409 3 1 156 (47) (44)
Synagis 447 (18) (14) (8) n/m 210 8 17 116 (34) (35) 129 (27) (22)
Beyfortus 318 n/m n/m 232 n/m - n/m n/m 84 n/m n/m 2 n/m n/m
FluMist 258 19 15 28 19 1 28 30 204 8 4 25 n/m n/m
COVID-19 mAbs 31 (76) (76) 28 n/m - n/m n/m 3 (74) (75) - n/m n/m
Others 4 (68) (68) - - 2 (82) (82) 2 10 14 - n/m n/m
Rare Disease 8,668 12 14 5,263 12 849 36 63 1,568 3 2 988 8 15
Ultomiris 3,924 32 34 2,261 29 141 n/m n/m 884 32 31 638 34 43
Soliris 2,588 (18) (14) 1,523 (12) 443 4 34 416 (38) (38) 206 (35) (32)
Strensiq 1,416 23 24 1,167 25 54 33 43 99 11 10 96 12 18
Koselugo 531 60 66 212 9 177 n/m n/m 103 93 92 39 62 73
Kanuma 209 22 24 100 17 34 19 28 66 35 35 9 11 15
Other medicines 1,073 (9) (4) 111 (17) 735 1 8 103 (2) (3) 124 (40) (36)
Nexium 867 (8) (2) 96 (16) 591 2 11 60 13 11 120 (40) (36)
Others 206 (11) (9) 15 (20) 144 (6) (4) 43 (17) (17) 4 (44) (41)
Total Product Sales 50,938 16 19 21,655 21 13,535 15 23 10,848 20 19 4,900 (3) 3
Table 30: Q4 2024 - Product Sales year-on-year analysis
15 (#_ftn15)
The Q4 2024 information in respect of the three months ended 31 December 2024
included in the Consolidated Financial Information has not been audited by
PricewaterhouseCoopers LLP.
World US Emerging Markets Europe Established RoW
$m Act % chg CER % chg $m % chg $m Act % chg CER % chg $m Act % chg CER % chg $m Act % chg CER % chg
Oncology 5,341 20 22 2,640 28 1,057 17 27 1,082 20 18 562 (3) (3)
Tagrisso 1,703 20 21 767 28 391 9 14 344 15 14 201 23 24
Imfinzi 1,254 16 18 721 26 113 30 53 253 22 21 167 (22) (21)
Calquence 808 20 20 573 20 37 27 54 167 20 18 31 9 8
Lynparza 844 14 15 378 8 180 35 45 220 15 13 66 1 2
Enhertu 148 78 98 - - 91 89 n/m 35 73 72 22 48 46
Zoladex 242 (5) (2) 5 n/m 174 4 10 37 6 3 26 (47) (48)
Imjudo 73 27 28 45 18 5 83 n/m 10 n/m n/m 13 7 8
Truqap 163 n/m n/m 148 n/m 1 n/m n/m 10 n/m n/m 4 n/m n/m
Orpathys 9 (16) (17) - - 9 (16) (17) - - - - - -
Others 97 (25) (22) 3 (86) 56 (15) (10) 6 (17) (15) 32 (4) (4)
BioPharmaceuticals: CVRM 3,132 16 17 853 9 1,193 11 14 886 31 28 200 24 24
Farxiga 1,933 20 21 472 5 628 12 17 731 39 37 102 43 43
Brilinta 341 4 4 208 7 62 2 6 65 (4) (5) 6 (4) (12)
Crestor 261 5 6 13 (11) 208 13 14 5 (56) (58) 35 (6) (6)
Seloken/Toprol-XL 140 (3) 1 - n/m 137 (1) 2 3 (20) (24) - n/m n/m
Lokelma 150 35 35 75 30 18 44 50 26 53 51 31 28 28
Roxadustat 74 18 16 - - 74 17 15 - - - - - -
Andexxa 59 11 11 19 6 - n/m n/m 20 9 7 20 17 18
Wainua 42 n/m n/m 42 n/m - - - - - - - - -
Others 132 (9) (7) 24 (44) 66 10 12 36 (3) (1) 6 40 54
BioPharmaceuticals: R&I 1,985 25 26 996 54 408 (11) (7) 391 23 21 190 12 12
Symbicort 684 31 33 299 n/m 153 - 5 144 1 (1) 88 (1) -
Fasenra 471 12 12 299 9 23 46 64 110 18 17 39 7 6
Pulmicort 164 (25) (23) (7) n/m 141 (23) (21) 20 8 6 10 (12) (12)
Breztri 257 29 29 149 24 45 19 21 42 60 59 21 37 38
Tezspire 80 n/m n/m - n/m 4 n/m n/m 51 n/m n/m 25 85 87
Saphnelo 147 65 65 131 60 2 n/m n/m 9 n/m n/m 5 75 76
Airsupra 25 n/m n/m 25 n/m - - - - - - - - -
Others 157 49 49 100 n/m 40 (37) (38) 15 7 5 2 14 28
BioPharmaceuticals: V&I 378 10 8 80 35 45 46 58 219 12 9 34 (43) (44)
Synagis 101 (38) (36) (6) n/m 42 13 21 35 (47) (47) 30 (50) (50)
Beyfortus 130 n/m n/m 84 61 - - - 45 n/m n/m 1 n/m n/m
FluMist 149 7 3 2 (73) 1 (10) 21 143 10 5 3 n/m n/m
COVID-19 mAbs - n/m n/m - n/m - n/m n/m - n/m n/m - n/m n/m
Others (2) n/m n/m - - 2 n/m n/m (4) n/m n/m - - -
Rare Disease 2,277 16 17 1,421 15 221 63 84 379 4 2 256 7 8
Ultomiris 1,089 32 33 632 29 49 n/m n/m 235 36 33 173 25 26
Soliris 543 (24) (22) 353 (16) 77 (10) 11 70 (50) (50) 43 (38) (37)
Strensiq 420 38 37 352 43 15 31 30 26 2 1 27 24 20
Koselugo 165 94 97 56 9 69 n/m n/m 29 91 90 11 27 28
Kanuma 60 47 48 28 22 11 n/m n/m 19 71 69 2 20 14
Other medicines 249 (6) (4) 24 (18) 171 14 17 28 (27) (28) 26 (46) (45)
Nexium 197 (6) (4) 19 (26) 133 11 16 20 16 13 25 (47) (46)
Others 52 (8) (8) 5 60 38 23 22 8 (61) (61) 1 (7) (8)
Total Product Sales 13,362 18 19 6,014 25 3,095 12 19 2,985 20 18 1,268 1 1
Table 31: Alliance Revenue
FY 2024 FY 2023
$m $m
Enhertu 1,437 1,022
Tezspire 436 259
Beyfortus 237 57
Other royalty income 91 81
Other Alliance Revenue 11 9
Total 2,212 1,428
Table 32: Collaboration Revenue
FY 2024 FY 2023
$m $m
Lynparza: sales milestones 600 -
Beyfortus: sales milestones 167 27
Koselugo: sales milestones 100 -
Farxiga: sales milestones 56 29
Lynparza: regulatory milestones - 245
COVID-19 mAbs licence fees - 180
Beyfortus: regulatory milestones - 71
tralokinumb: sales milestones - 20
Other Collaboration Revenue - 22
Total 923 594
Table 33: Other operating income and expense
FY 2024 FY 2023
$m $m
brazikumab licence termination funding - 75
Divestment of US rights to Pulmicort Flexhaler - 241
Update to the contractual relationships for Beyfortus (nirsevimab) - 712
Other 252 312
Total 252 1,340
Other shareholder information
Financial calendar
Announcement of Q1 2025 results: 29 April
2025
Announcement of H1 and Q2 2025 results: 29 July 2025
Proposed 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
Dividend Announced Ex-dividend date 16 (#_ftn16) Record date Payment date
FY 2024 Second interim 6 Feb 2025 20 Feb 2025 21 Feb 2025 24 Mar 2025
FY 2025 First interim 17 (#_ftn17) 29 Jul 2025 7 Aug 2025 8 Aug 2025 8 Sep 2025
Contacts
For details on how to contact the Investor Relations Team, please click here
(https://www.astrazeneca.com/investor-relations.html#Contacts) . For Media
contacts, click here (https://www.astrazeneca.com/media-centre/contacts.html)
.
Addresses for correspondence
Registered office Registrar and Swedish Central Securities Depository US depositary
transfer office
1 Francis Crick Avenue Equiniti Limited Euroclear Sweden AB J.P. Morgan Chase Bank N.A.
EQ Shareowner Services
Cambridge Biomedical Campus Aspect House PO Box 191
P.O. Box 64504
Cambridge Spencer Road SE-101 23 Stockholm
St. Paul
CB2 0AA Lancing
MN 55164-0504
West Sussex
BN99 6DA
United Kingdom United Kingdom 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 (https://www.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 (http://www.astrazeneca.com/) and follow the
Company on Social Media @AstraZeneca
(https://www.linkedin.com/company/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 AI 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
ADC Antibody drug
conjugate
aHUS Atypical haemolytic
uraemic syndrome
ADT Androgen
deprivation therapy
AKT Protein kinase B
AL amyloidosis Light chain amyloidosis
ANDA Abbreviated New Drug
Application (US)
ASO Antisense
oligonucleotide
ATTR-CM Transthyretin-mediated amyloid
cardiomyopathy
ATTRv / -PN / -CM Hereditary transthyretin-mediated amyloid /
polyneuropathy / cardiomyopathy
BCMA B-cell maturation
antigen
BRCA / m Breast cancer gene / mutation
BTC Biliary tract
cancer
BTK Bruton tyrosine
kinase
C5 Complement
component 5
CAR-T Chimeric antigen
receptor T-cell
cCRT Concurrent
chemoradiotherapy
CD19 A gene expressed in
B-cells
CER Constant exchange
rates
CHMP Committee for Medicinal
Products for Human Use (EU)
CI
Confidence interval
CKD Chronic kidney
disease
CLL Chronic
lymphocytic leukaemia
COPD Chronic obstructive
pulmonary disease
COP28 28th annual United Nations
(UN) climate meeting
CRC Colorectal cancer
CRL Compete Response
Letter
CRPC Castration-resistant
prostate cancer
CSPC Castration-sensitive
prostate cancer
CTLA-4 Cytotoxic
T-lymphocyte-associated antigen 4
CVRM Cardiovascular, Renal
and Metabolism
DDR DNA damage
response
DNA Deoxyribonucleic
acid
EBITDA Earnings before interest,
tax, depreciation and amortisation
EGFR / m Epidermal growth factor
receptor gene / mutation
EGPA Eosinophilic
granulomatosis with polyangiitis
EPS Earnings per
share
ER Estrogen
receptor
ERBB2 v-erb-b2 avian
erythroblastic leukaemia viral oncogene homologue 2 gene
EVH Extravascular
haemolysis
FDA Food and Drug
Agency (US)
FDC Fixed dose
combination
FISH Fluorescence in
situ hybridization, as in FISH10+
g
Germline, e.g. gBRCAm
GAAP Generally Accepted
Accounting Principles
GEJ Gastro
oesophageal junction
GI
Gastrointestinal
GLP1 / -RA Glucagon-like peptide-1 /
receptor agonist
gMG Generalised
myasthenia gravis
HCC Hepatocellular
carcinoma
HER2 / +/- / low / m Human epidermal growth factor receptor 2 / positive /
negative / low level expression / gene mutant
HF/ pEF / rEF Heart failure / with preserved ejection
fraction / with reduced ejection fraction
hMPV Human metapneumovirus
HR Hazard ratio
HR / + / - Hormone receptor /
positive / negative
HRD Homologous
recombination deficiency
HRR / m Homologous recombination
repair gene / mutation
i.m. Intramuscular
injection
i.v.
Intravenous injection
IAS / B International
Accounting
Standards / Board
ICS Inhaled
corticosteroid
IFRS International
Financial Reporting Standards
IgAN Immunoglobulin A
neuropathy
IHC
Immunohistochemistry, as in IHC90+, etc
IL-5, IL-33, etc Interleukin-5, Interleukin-33, etc
IP
Intellectual Property
IVIg Intravenous
immune globulin
LABA Long-acting
beta-agonist
LAMA Long-acting
muscarinic-agonist
LS-SCLC Limited stage small cell lung
cancer
LRTD Lower respiratory
tract disease
m
Metastatic, e.g. mBTC , mCRPC, mCSPC
mAb Monoclonal
antibody
MDL Multidistrict
litigation
MET Mesenchymal
epithelial transition
NF1-PN Neurofibromatosis type 1
with plexiform neurofibromas
n/m Not meaningful
NMOSD Neuromyelitis optica
spectrum disorder
NRDL National
reimbursement drug list
NSCLC Non-small cell lung cancer
OECD Organisation for
Economic
Co-operation and Development
OOI Other
operating income
ORR Overall response
rate
OS Overall
survival
PAAGR Post Alexion Acquisition
Group Review
PARP / i / -1sel Poly ADP ribose polymerase / inhibitor
/-1 selective
pCR Pathologic
complete response
PCSK9 Proprotein convertase
subtilisin/kexin type 9
PD Progressive
disease
PD-1 Programmed cell
death protein 1
PD-L1 Programmed cell death
ligand 1
PDUFA Prescription Drug User Fee
Act
PHSSR Partnership for Health
System Sustainability and Resilience
PFS Progression free
survival
PIK3CA
Phosphatidylinositol-4,5-bisphosphate 3-kinase, catalytic subunit alpha gene
pMMR proficient mismatch
repair
PMDI Pressure metered
dose inhaler
PNH / -EVH Paroxysmal nocturnal haemoglobinuria
/ with extravascular haemolysis
PPI Proton pump
inhibitors
PSR Platinum
sensitive relapse
PTEN Phosphatase and
tensin homologue gene
Q3W, Q4W, etc Every three weeks, every four weeks, etc
R&D Research and
development
R&I
Respiratory & Immunology
RSV Respiratory
syncytial virus
sBLA Supplemental
biologics license application (US)
SCLC Small cell lung
cancer
s.c.
Subcutaneous injection
SEA Severe
eosinophilic asthma
SEC Securities
Exchange Commission (US)
SG&A Sales, general
and administration
SGLT2 Sodium-glucose
cotransporter 2
SLL Small
lymphocytic lymphoma
SMI Sustainable
Markets Initiative
sNDA Supplemental new drug
application
SPA Share Purchase
Agreement
T2D Type-2 diabetes
TACE Transarterial
chemoembolization
THP A treatment
regimen: docetaxel, trastuzumab and pertuzumab
TNBC Triple negative
breast cancer
TNF Tumour necrosis
factor
TOP1 Topoisomerase I
TROP2 Trophoblast cell surface
antigen 2
USPTO US Patent and Trademark
Office
V&I Vaccines
& Immune Therapies
VBP Volume-based
procurement
VLP Virus like
particle
- End of document -
1 (#_ftnref1) Constant exchange rates. The differences between Actual Change
and CER Change are due to foreign exchange movements between periods in 2024
vs. 2023. 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 (#_ftnref2) 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 11 and Table 12 in the Financial performance section
of this document.
3 (#_ftnref3) In FY 2024, capital expenditure on tangible assets and
Software-related intangibles amounted to $2,218m
4 (#_ftnref4) In Table 2, the plus and minus symbols denote the directional
impact of the item being discussed, e.g. a Ô+Õ symbol next to a comment
related to the R&D expense indicates that the item resulted in an increase
in the R&D spend relative to the prior year.
5 (#_ftnref5) Income from disposals of assets and businesses, where the
Group does not retain a significant ongoing economic interest, continue to be
recorded in Other operating income and expense in the GroupÕs financial
statements.
6 (#_ftnref6) The presentation of Table 4 has been updated to show Total
Revenue by medicine, by including Alliance Revenue and Collaboration Revenue
within each revenue figure. Previously, this table showed Product Sales for
each medicine and therapy area, and the CompanyÕs total Alliance Revenue and
Collaboration Revenue were shown as separate lines at the bottom of the table.
7 (#_ftnref7) ÔStock compensationÕ encourages distributors to maintain
steady inventory levels ahead of the date of a price reduction. After the
price reduction takes effect, the supplier compensates the distributor for the
reduction in the resale value of their inventory
8 (#_ftnref8) The presentation of this table has been updated by removing
the "Acquisition of Alexion" column due to immateriality of items in this
category
9 (#_ftnref9) Based on best prevailing assumptions around currency profiles.
10 (#_ftnref10) Based on average daily spot rates 1 Jan 2024 to 31 Dec 2024.
11 (#_ftnref11) Based on average daily spot rates 1 Jan 2025 to 31 Jan 2025.
12 (#_ftnref12) Based on average daily spot rates on Jan 31 2025.
13 (#_ftnref13) Other currencies include AUD, BRL, CAD, KRW and RUB.
14 (#_ftnref14) The table provides an analysis of year-on-year Product
Sales, with Actual and CER growth rates reflecting year-on-year growth. Due to
rounding, the sum of a number of dollar values and percentages may not agree
to totals.
15 (#_ftnref15) The table provides an analysis of year-on-year Product
Sales, with Actual and CER growth rates reflecting year-on-year growth. Due to
rounding, the sum of a number of dollar values and percentages may not agree
to totals.
16 (#_ftnref16) The ex-dividend dates shown in the table are for ordinary
shares listed on the London Stock Exchange; the ex-dividend dates are one day
sooner for ordinary shares listed on the Stockholm Stock Exchange and for
American Depository Receipts listed on NASDAQ.
17 (#_ftnref17) Provisional dates, subject to Board approval.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END FR UPUAUPUPAPGARecent news on AstraZeneca
See all newsREG - AstraZeneca PLC - Director/PDMR Shareholding
AnnouncementREG - AstraZeneca PLC - Total Voting Rights
AnnouncementREG - AstraZeneca PLC - Fixed-duration Calquence recommended in EU for CLL
AnnouncementREG - AstraZeneca PLC - Update on CAPItello-280 Phase III trial
AnnouncementREG - AstraZeneca PLC - 1st Quarter Results
Announcement