Slide 1: Q1 2021 results
Q1 2021 results Conference call and webcast for investors and analysts 30 April 2021
Slide 2: Forward-looking statements
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 wit
Slide 3: Forward-looking statements, proposed acquisition of Alexion
Forward-looking statements, proposed acquisition of Alexion Important additional information In connection with the proposed transaction, the Group filed a registration statement on Form F-4 (the Registration Statement), which has been declared effective by the United States Securities and Exchange
Slide 4: Speakers
Speakers Pascal Soriot Dave Fredrickson Ruud Dobber Mene Pangalos Executive Vice President, Executive Director and Executive Vice President, Executive Vice President, BioPharmaceuticals Chief Executive Officer Oncology Business Unit BioPharmaceuticals R&D Business Unit Marc Dunoyer Pam Cheng Leon Wa
Slide 5: Agenda
Agenda Overview Oncology BioPharmaceuticals, Emerging markets Finance Pipeline update, news flow Closing and Q&A 5
Slide 6: Q1 2021: solid start to the year
Q1 2021: solid start to the year Key highlights Total revenue +11%, incl. 4% from the pandemic COVID-191 vaccine. Total revenue excl. vaccine +7% Growth: Oncology +16% and New CVRM2 +15%. Respiratory & Immunology -4%, impacted by stocking in Q1 2020. Emerging markets +10% Core operating profit +34%,
Slide 7: Progress in the late-stage pipeline
Progress in the late-stage pipeline Milestones since the last results update Medicine Indication (geography) Regulatory approval or Tagrisso adjuvant NSCLC1 (EGFRm2): approval (CN) other regulatory action adjuvant NSCLC (EGFRm): positive opinion (EU) Imfinzi bladder cancer (2nd line3): indication vo
Slide 8: Q1 2021: total revenue +11%
Q1 2021: total revenue +11% Vaccine contributed 4% of growth Total revenue excluding New medicines the vaccine increased by 7% major contributor $m +$0.8bn 200 incremental revenue of the new 150 medicines compared to Q1 20201 Total revenue growth, per cent 4% 100 14% 11% 18% 22% 5% 17% 11% 3% 10% 7%
Slide 9: Q1 2021: solid start to the year, Oncology and New CVRM drove growth
Q1 2021: solid start to the year Oncology and New CVRM drove growth Growth across Growth across disease areas geographies Q1 2021 growth ratio Q1 2021 growth ratio $m % % $m % % Oncology 3,024 16 41 EMs1 2,592 10 35 New CVRM 1,306 15 18 - EMs ex China 913 11 12 Respiratory & Immunology 1,546 (4) 21
Slide 10: Accelerating the expansion into immunology
Accelerating the expansion into immunology Good progress made with FTC1 and other clearances Compelling scientific complementarity and synergy Combination of two science- and patient-centric organisations Further-sustained, industry-leading double-digit revenue growth Improved profitability and Alex
Slide 11: Agenda
Agenda Overview Oncology BioPharmaceuticals, Emerging markets Finance Pipeline update, news flow Closing and Q&A 11
Slide 12: Tagrisso and Imfinzi
Tagrisso and Imfinzi Global growth boosted by Europe, Rest of World Tagrisso: 13% growth to $1.1bn Imfinzi: 17% growth to $0.6bn $m Approvals 17 (adjuvant), 89 (1st line), 91 (2nd line)1 $m Approvals 714 (NSCLC5), 534 (ES-SCLC6) 1,200 • US +12% (36% of total) 600 • US +2% (53% of total) Growth reduc
Slide 13: Lynparza
Lynparza The globally-leading PARP1 inhibitor $m Lynparza Approvals 81 (ovarian), 79 (breast), 59 Lynparza $m 33% sales growth to $0.5bn (pancreatic) and 55 (prostate cancer) collaboration revenue 600 1,000 • US +28% (47% of total) 500 Growth driven by use in prostate 800 cancer 400 • Europe +33% 60
Slide 14: Calquence and Enhertu
Calquence and Enhertu Launches continued well Calquence Enhertu $m Approvals: 61 (CLL1) and 28 countries (MCL2)3 $m Approvals: US, EU, JP (mBC7); US, JP (mGC8) 250 • Global $209m; US $195m 50 • Global $40m; US $35m $73m total US in-market 200 • US CLL 40 sales by Daiichi Sankyo Use moved earlier; sh
Slide 15: BioPharmaceuticals: New CVRM
BioPharmaceuticals: New CVRM 15% growth boosted by Farxiga and EMs New CVRM Farxiga $m 15% growth $m 50% growth - the fastest-growing SGLT2i1 globally 1,500 750 • US +16% Strong volume growth including 1,250 HFrEF2 indication, but offset by price impact 1,000 500 750 • Europe +36% Solid volume growt
Slide 16: BioPharmaceuticals: Respiratory & Immunology
BioPharmaceuticals: Respiratory & Immunology Recovery continued, but offset by Q1 2020 stocking effect Respiratory down 4% from Impact from stocking in Q1 2020 $m high stocking base in 2020 Comparison to ease in Q2 2021 2,000 • US +8% • EMs -4% Symbicort (-14%); slowing market Pulmicort ($286m, -14%
Slide 17: BioPharmaceuticals: new launch medicines
BioPharmaceuticals: new launch medicines Portfolio of new medicines across uses and markets Fasenra Breztri Lokelma roxadustat Severe asthma COPD $m Hyperkalaemia $m Anaemia in CKD • Europe $63m (+25%); • US $12m • Global $33m; US $24m • EMs $41m Japan $26m (+19%) Achieved 20%+ share of US market le
Slide 18: Emerging markets
Emerging markets Diverse and solid growth Emerging markets +10% Performance driven by new medicines $m EMs ex China +11%; China +10% up 30% (34% of total revenue; $0.9bn1) 3,000 • Oncology +4%: Tagrisso (+5%); March 2021 NRDL inclusion 2,500 New CVRM +41%: Forxiga (+85%); roxadustat ($41m) 2,000 Res
Slide 19: Agenda
Agenda Overview Oncology BioPharmaceuticals, Emerging markets Finance Pipeline update, news flow Closing and Q&A 19
Slide 20: Reported profit and loss
Reported profit and loss Q1 2021 change % total $m % revenue Total revenue 7,320 11 100 - product sales 7,257 11 99 - collaboration revenue 63 42 1 Gross margin 74.3% (2.7) pp4 Operating expenses1 4,741 9 65 - R&D2 expenses 1,713 19 23 - SG&A3 expenses 2,929 4 40 Other operating income 1,180 145 16
Slide 21: Core profit and loss
Core profit and loss Q1 2021 change % total $m % revenue Total revenue 7,320 11 100 - product sales 7,257 11 99 - collaboration revenue 63 42 1 Gross margin 74.6% (3.0) pp Operating expenses 4,136 11 57 - R&D expenses 1,638 18 22 - SG&A expenses 2,399 7 33 Other operating income 1,180 146 16 Operati
Slide 22: Analysis: core operating profit and net debt
Analysis: core operating profit and net debt Increasing core operating profit; net debt was stable Core operating profit reached $2,524m Net debt broadly stable $m Sources of profit continued to progress $bn from improved EBITDA1 2,750 2,500 0.1 2.7 2.5 2,250 0.2 0.4 1.2 0.8 2,000 12.1 12.2 1,750 1,
Slide 23: Financial priorities
Financial priorities Q1 2021 results underpinned the strategic journey Deleveraging/dividend growth Revenue growth • As cash flow improves, deleveraging and progressive dividend policy +7% growth in total revenue in • Unchanged priorities for capital Q1 2021 excluding the pan- allocation demic COVID
Slide 24: 2021 guidance reiterated
2021 guidance reiterated Total revenue Core EPS increase by a low faster growth to teens percentage $4.75 to $5.00 Guidance is at CER. The guidance does not incorporate any revenue or profit impact from sales of the pandemic COVID-19 vaccine. Similarly, the guidance excludes the proposed acquisition
Slide 25: Alexion: recent US FTC clearance milestone
Alexion: recent US FTC clearance milestone Acquisition logic, rationale and highlights unchanged • Compelling scientific complementarity and synergy, e.g. • Pipeline boosted with 11 molecules across 20+ programmes • Combination of two science- and patient-centric organisations • Further-sustained, i
Slide 26: Agenda
Agenda Overview Oncology BioPharmaceuticals, Emerging markets Finance Pipeline update, news flow Closing and Q&A 26
Slide 27: Continuing response to COVID-19
Continuing response to COVID-19 Status on vaccine and anti-viral antibody COVID-19 vaccine COVID-19 vaccine AZD7442 long-acting clinical and real-world data rollout antibody combo • US Phase III met the primary • 68m doses invoiced globally • Potential to offer immediate endpoint with 76% vaccine pr
Slide 28: CVRM: treating underlying conditions
CVRM: treating underlying conditions Broad portfolio of next-generation medicines Cardiovascular Heart failure Renal Metabolism Liver disease • AZD8233 (PCSK91) • AZD4831 (MPO4) • Farxiga (SGLT2) • cotadutide (GLP-19/glucagon) hypercholesterolaemia HFpEF5 CKD NASH10, DKD11 • MEDI6570 (LOX-12) • Farx
Slide 29: Respiratory & Immunology: nirsevimab
Respiratory & Immunology: nirsevimab First immunisation to show benefit in a general infant population Building on Synagis nirsevimab Phase IIb nirsevimab MELODY Phase III launched in 1998 trial had strong results3 trial showed positive data • Synagis is the only antibody • 70% lower rate of medical
Slide 30: BioPharmaceuticals: 'What's next'
BioPharmaceuticals: ‘What’s next’ Expanding pipeline, including immunology What’s next What’s now Phase I/II new medicines, selected Phase III new medicines MEDI3506 MEDI3506 roxadustat PT027 (IL331 mAb2) (IL33 mAb) anaemia in CKD asthma DKD asthma, COPD, AD4, COVID-19 cotadutide AZD1402 Phase II ni
Slide 31: In memory of José Baselga (1959-2021)
In memory of José Baselga (1959-2021) • José Baselga tragically passed away on 21 March 2021 • José joined AstraZeneca in early 2019 as Executive Vice President and Head of Oncology R&D, but had been supporting AstraZeneca in various advisory capacities for a number of years • José has left a lastin
Slide 32: Breast cancer: Progressing pipeline across multiple modalities
Breast cancer Progressing pipeline across multiple modalities Lynparza adjuvant breast cancer AZD5305 Upcoming Enhertu breast Phase III OlympiA trial unblinded PARP1-selective inhibitor cancer data readouts • IDMC1 recommended trial move • Five abstracts at AACR3 H2 2021 to primary analysis and repo
Slide 33: Breast cancer: well-positioned with at least five medicines
Breast cancer: well-positioned with at least five medicines Potential to cover most patients across settings and lines of treatment Early/curative setting Metastatic setting Neo-adjuvant Adjuvant 1st line 2nd line 3rd line 3rd line+ HER2+ Enhertu monotherapy Enhertu monotherapy c.20% of patients and
Slide 34: Oncology: 'What's next'
Oncology: ‘What’s next’ Solid pipeline moving forward What’s next What’s now Phase III new medicines Phase I/II new medicines, selected datopotamab deruxtecan lung cancer camizestrant (AZD9833) breast cancer monalizumab capivasertib head & neck cancer breast, prostate cancer adavosertib ceralasertib
Slide 35: Late-stage pipeline events in the 2021-2022 timeframe
Late-stage pipeline events in the 2021-2022 timeframe Busy news flow continues; Phase III readouts increase into 2021 H1 2021 H2 2021 2022 Regulatory Tagrisso - adjuvant NSCLC (EGFRm) (EU) Lynparza - prostate cancer (2L) (CN) Imfinzi - ES-SCLC (CN) Koselugo - NF1 (EU) decision Forxiga - CKD (EU, JP,
Slide 36: Agenda
Agenda Overview Oncology BioPharmaceuticals, Emerging markets Finance Pipeline update, news flow Closing and Q&A 36
Slide 37: AstraZeneca in summary
AstraZeneca in summary Pipeline-driven transformation Global presence Strong pipeline Improving financials Balanced specialty and 22 Phase III medicines and Nine blockbuster medicines2 primary-care franchises1 significant lifecycle projects Returned to durable Leading emerging markets Advancing earl
Slide 38: Questions & Answers
Questions & Answers Recently launched: AIR As part of ongoing efforts to make sustainability data transparent and accessible, the new Analyst Interactive Reporting (AIR) centre provides sustainability data in a single platform, covering global information from key performance indicators for Access t
Slide 39: Appendix: 'What's next'
Appendix: ‘What’s next’ Next key milestone by project Oncology BioPharmaceuticals: CVRM Project Target Phase Indication Next milestone Project Target Phase Indication Next milestone GLP-1/ NASH Phase IIb data H2 2021 adavosertib WEE1 II uterine, ovarian cancer Phase III start cotadutide II glucagon
Slide 40: Use of AstraZeneca conference call, webcast and presentation slides
Use of AstraZeneca conference call, webcast and presentation slides The AstraZeneca webcast, conference call and presentation slides (together the ‘AstraZeneca materials’) are for your personal, non-commercial use only. You may not copy, reproduce, republish, post, broadcast, transmit, make availabl