Slide 1: Full Year and Q4 2023 Results
Full Year and Q4 2023 Results Conference call and webcast for investors and analysts 08 February 2024
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: Conference call agenda
Q4 and FY 2023 Results Conference call agenda CEO Opening Remarks Pascal Soriot Chief Executive Officer Financial Results Aradhana Sarin Chief Financial Officer Oncology Dave Fredrickson Susan Galbraith EVP, Oncology Business EVP, Oncology R&D BioPharmaceuticals Ruud Dobber Sharon Barr EVP, BioPharm
Slide 4: CEO Opening Remarks
CEO Opening Remarks Pascal Soriot CHIEF EXECUTIVE OFFICER
Slide 5: Delivered on our growth ambition
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Delivered on our growth ambition Total Revenue growth ambition to achieve Culture of science-led innovation unlocked >$45bn in 2023 set in 2014 a decade of industry-leading growth Follow the science Di
Slide 6: Poised to deliver through the next decade
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Poised to deliver through the next decade On track for ambition of Delivered on our Continued investment to drive mid-30%s Operating margin upgraded 2023 guidance sustainable long-term growth in the mi
Slide 7: Driving strong growth across geographies and therapy areas
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Driving strong growth across geographies and therapy areas Broad-based, diverse source of +21% Total Revenue Strength across +18% FY 2023 | % Total Revenue by therapy area therapy areas +10% +12% FY 20
Slide 8: Investing in new launches, near and mid-term pipeline
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Investing in new launches, near and mid-term pipeline 4 new medicines approved1 and on track to deliver 27 Phase III trials initiated on ambition for at least 15 NME launches by 2030 across 18 medicine
Slide 9: Investing in new platforms and technologies
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Investing in new platforms and technologies Shaping the future of medicine NOVEL Foundation in ADCs Six wholly owned ADCs Combo opportunities Oncology ADCS unique targets and warheads + bispecifics, +
Slide 10: Financial Results
Financial Results Aradhana Sarin CHIEF FINANCIAL OFFICER
Slide 11: FY 2023 – Reported profit and loss
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks FY 2023 – Reported profit and loss FY 2023 CER change % Total Q4 2023 CER change % Total $m % Revenue $m % Revenue Total Revenue 45,811 6 100 12,024 8 100 - Product Sales 43,789 4 96 11,323 5 94 - Alli
Slide 12: FY 2023 – Core profit and loss
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks FY 2023 – Core profit and loss FY 2023 CER change % Total Q4 2023 CER change % Total $m % Revenue $m % Revenue Total Revenue 45,811 6 100 12,024 8 100 - Product Sales 43,789 4 96 11,323 5 94 - Alliance
Slide 13: Track record and FY 2024 guidance (CER)
Track record and FY 2024 guidance (CER) Underlying business momentum drives strong Total Revenue and Core EPS growth Total Revenue growth Core EPS growth 2024 Guidance (CER) $bn 0.3 $7.26 Total Revenue 4.1 $6.66 • Low double-digit to 4.1 low-teens percentage increase $5.29 45.5 33.4 40.3 Core EPS •
Slide 14: Net debt and capital allocation
Net debt and capital allocation Delivered continued cash flow improvement Net debt bridge Capital allocation $bn Free cashflow post-Capex Maintain strong Value-enhancing Progressive BIBP investment-grade business BIBP dividend policy3 credit rating development Recent examples4 Net debt CFO Capex Dea
Slide 15: Oncology
Oncology Dave Fredrickson ONCOLOGY BUSINESS Susan Galbraith ONCOLOGY R&D
Slide 16: Oncology – FY and Q4 2023
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Oncology – FY and Q4 2023 Total Revenue +21% in FY 2023 fuelled by strong global demand growth Oncology Q4 2023: key dynamics FY 2023 $18.4bn, +21% 5,000 • Tagrisso +6%, demand growth in US and EU, off
Slide 17: Oncology – Truqap launch reinforces breast cancer leadership
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Oncology – Truqap launch reinforces breast cancer leadership HR+ metastatic breast cancer Truqap poised to redefine 2L HR+, potential SoC for altered tumours 1st-line 2nd-line 3rd-line 4th-line+ 80k 65
Slide 18: Oncology – R&D highlights
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Oncology – R&D highlights Gracell acquisition furthers our position in CAR-T and haematology Gracell cell therapy potential best-in-class BCMA/CD19 manufacturing platform GC012F dual-targeted CAR-T Dif
Slide 19: BioPharmaceuticals
BioPharmaceuticals Ruud Dobber BIOPHARMACEUTICALS BUSINESS Sharon Barr BIOPHARMACEUTICALS R&D
Slide 20: BioPharmaceuticals – FY and Q4 2023
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks BioPharmaceuticals – FY and Q4 2023 Double-digit growth from CVRM and R&I, strong Beyfortus launch in V&I CVRM R&I V&I FY 2023 $10.6bn, +18% FY 2023 $6.4bn, +10% FY 2023 $1.4bn, -71% 3,000 2,500 1,800
Slide 21: BioPharmaceuticals
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks BioPharmaceuticals Pipeline success leads to multiple launches of differentiated medicines CVRM R&I V&I First-and-only self-admin auto- First-and-only rescue inhaler First-and-only RSV mAb injector for
Slide 22: BioPharmaceuticals
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks BioPharmaceuticals Future expansion of CVRM portfolio with numerous ongoing late-stage, early-stage trials Opportunity to enhance existing CVRM portfolio with ongoing late-stage trials baxdrostat u/r H
Slide 23: BioPharmaceuticals – R&D highlights
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks BioPharmaceuticals – R&D highlights Accelerating our ambition in immune-mediated diseases Innovative immunology portfolio Autologous CAR-T PHASE I PHASE II PHASE III MARKETED Phase I TULIP (Systemic lu
Slide 24: Rare Disease
Rare Disease Marc Dunoyer CHIEF EXECUTIVE OFFICER, ALEXION
Slide 25: Rare Disease – FY and Q4 2023
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Rare Disease – FY and Q4 2023 Total Revenue +12% in FY 2023 driven by neurology and patient demand Rare Disease Q4 2023: key dynamics Ultomiris and Soliris FY 2023 $7.8bn, +12% Conversion1 and geograph
Slide 26: Rare Disease – R&D
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Rare Disease – R&D New Phase III trial starts with blockbuster potential ALXN2220 efzimfotase alfa (ALXN1850) Novel TTR depleter | ATTR-CM Next-gen enzyme replacement therapy| HPP DepleTTR-CM Q4W IV HI
Slide 27: CEO Closing Remarks
CEO Closing Remarks Pascal Soriot CHIEF EXECUTIVE OFFICER
Slide 28: Industry-leading pipeline, significant catalysts in 2024
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Industry-leading pipeline, significant catalysts in 2024 Strong near-term Phase III catalyst volume Upcoming select data readouts build select opportunities include: confidence in novel early-stage pip
Slide 29: Investor Day to feature strategic progress and pipeline
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Investor Day to feature strategic progress and pipeline Roadmap to delivering industry-leading growth through 2030 21 May 2024 The Discovery Centre (DISC) Cambridge, UK 29 Appendix: Glossary.
Slide 30: Q&A Session
Q&A Session Pascal Soriot Aradhana Sarin Marc Dunoyer E X E CUTI V E DI RE CTO R & E X E CUTI V E DI R E CTO R & CHI E F E X E CUTI VE OFFI CE R, CHI E F E X E CUTI VE OFFI CE R CHI E F FI NANCI AL OFFI CE R AL E XI O N Susan Galbraith Dave Fredrickson Sharon Barr E X E CUTI VE VI CE P RE SI DE NT,
Slide 31: Appendix & Glossary
Appendix & Glossary • Glossary • ESG – summary of sustainability progress in 2023 • Oncology tumour maps • Emerging Markets performance • Key medicines performance by therapy area
Slide 32: Glossary – abbreviations (1 of 2)
GL O S S A RY | FY 2023 abbreviations Glossary – abbreviations (1 of 2) 1L = first line EGFRm = epidermal growth factor receptor mutation 2L = second-line EM = emerging markets ADCs = antibody drug conjugates ERoW = established rest of world AI = aromatase inhibitor ERT = estrogen replacement therap
Slide 33: Glossary – abbreviations (2 of 2)
GL O S S A RY | FY 2023 abbreviations Glossary – abbreviations (2 of 2) NRDL = national reimbursement drug list NSCLC = non-small cell lung cancer NST = neoadjuvant systemic treatment oGLP1 = oral glucagon-like receptor peptide 1 oPCSK9 = oral protein convertase subtilisin/kexin type 9 ORR = overall
Slide 34: Continued leadership in Sustainability
A PPE N D I X | Sustainability Highlights Continued leadership in Sustainability Accelerating bold, scalable action through collaboration Driving bold Demonstrating decarbonisation our commitment TASKFORCE on Early NATURE-RELATED to nature by bringing in 2023: nature more prominently FINANCIAL DISCL
Slide 35: AstraZeneca in Lung Cancer
A PPE N D I X | Oncology tumour maps AstraZeneca in Lung Cancer Ambition for >50% of lung cancer patients to be eligible for AZN medicine by 2030 resectable Stg. I-III unresectable Stg. I-II Stg. III 1L metastatic 2L+ Leading the future of Est. epi (G7) ~200K ~30K ~70K ~350K ~290K lung cancer treatm
Slide 36: AstraZeneca in Breast Cancer
A PPE N D I X | Oncology tumour maps AstraZeneca in Breast Cancer Ambition to eliminate breast cancer as a cause of death established SoC Early Metastatic Neoadjuvant Adjuvant 1st line 2nd line 3rd line 4th line + Est. epi (G7) 540k 125k 90k 65k 55k Enhertu ± THP NST residual disease HER2-positiv
Slide 37: AstraZeneca in Breast Cancer
A PPE N D I X | Oncology tumour maps AstraZeneca in Breast Cancer Ambition to eliminate breast cancer as a cause of death Early Metastatic Neoadjuvant Adjuvant 1st line 2nd line 3rd line 4th line + Est. epi (G7) 405k 80k 65k 55k 50k Current SoC drives Camizestrant to replace ET PIK3CA/AKT1/PTEN alte
Slide 38: Emerging Markets – FY 2023
A PPE N D I X | FY 2023 Emerging Markets Emerging Markets – FY 2023 Total Revenue +9% at CER to $12.0bn, +20% at CER ex-COVID-19 medicines 4,000 3,500 3,000 2,500 Total Revenue ($m) 2,000 1,500 1,000 500 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 2023 China Emerging Markets ex-China COVID-19 medicines 3
Slide 39: Oncology: Tagrisso, Imfinzi and Imjudo
A PPE N D I X | FY 2023 Product Performance Oncology Tagrisso Imfinzi and Imjudo 9% growth at CER to $5,799m in FY 2023 55% growth at CER to $4,237m in FY 2023 1,600 1,200 1,400 1,000 1,200 Total Revenue ($m) Total Revenue ($m) 1,000 800 800 600 600 400 400 200 200 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 0 Q4
Slide 40: Oncology: Lynparza
A PPE N D I X | FY 2023 Product Performance Oncology Lynparza Lynparza 9% growth at CER to $2,811m in FY 2023 Collaboration Revenue: $245m in FY 2023 800 600 700 600 Product Sales ($m) 400 500 Collaboration Revenue ($m) 400 300 200 200 100 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 20
Slide 41: Oncology: Calquence, Enhertu
A PPE N D I X | FY 2023 Product Performance Oncology Calquence Enhertu 23% growth at CER to $2,514m in FY 2023 >2x growth at CER to $1,283m in FY 2023 800 400 700 350 600 300 Total Revenue ($m) Total Revenue ($m) 500 250 400 200 300 150 200 100 100 50 0 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q1
Slide 42: BioPharmaceuticals: Cardiovascular, Renal & Metabolism
A PPE N D I X | FY 2023 Product Performance BioPharmaceuticals: Cardiovascular, Renal & Metabolism Farxiga Brilinta Lokelma 39% growth at CER to $5,997m in FY 2023 1% decrease at CER to $1,324m in FY 2023 46% growth at CER to $412m in FY 2023 1,800 400 120 1,600 350 100 1,400 300 Total Revenue ($m)
Slide 43: BioPharmaceuticals: Respiratory & Immunology
A PPE N D I X | FY 2023 Product Performance BioPharmaceuticals: Respiratory & Immunology Fasenra Breztri Tezspire 12% growth at CER to $1,553m in FY 2023 73% growth at CER to $677m in FY 2023 >4x growth at CER to $345m in FY 2023 450 250 140 400 120 350 200 Total Revenue ($m) Total Revenue ($m) Tota
Slide 44: BioPharmaceuticals: Respiratory & Immunology
A PPE N D I X | FY 2023 Product Performance BioPharmaceuticals: Respiratory & Immunology Symbicort Pulmicort 4% decrease at CER to $2,362m in FY 2023 17% growth at CER to $713m in FY 2023 800 300 700 250 600 Total Revenue ($m) Total Revenue ($m) 200 500 400 150 300 100 200 50 100 0 0 Q4 Q1 Q2 Q3 Q4
Slide 45: Rare Disease
A PPE N D I X | FY 2023 Product Performance Rare Disease Soliris Ultomiris Strensiq 14% decrease at CER to $3,145m in FY 2023 52% growth at CER to $2,965m in FY 2023 21% growth at CER to $1,152m in FY 2023 1,200 900 350 800 300 1,000 700 Total Revenue ($m) Total Revenue ($m) 250 Total Revenue ($m) 8