Astrazeneca Plc · LSE:AZN
Astrazeneca — H1 and Q2 2024 Earnings Presentation
38 slides from Astrazeneca's earnings presentation, Jul 25, 2024
Slide 1: H1 and Q2 2024 Results
H1 and Q2 2024 Results Conference call and webcast for investors and analysts 25 July 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
H1 and Q2 2024 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: H1 2024 – strong underlying growth, Total Revenue +18%
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks H1 2024 – strong underlying growth, Total Revenue +18% Total Revenue | 18% CER Core Operating Profit | 7% CER Core EPS | 5% CER $8,237 $8,411 Core OOI $m $25,617 $125 Core OOI $1,102 $4.07 $4.03 $22,29
Slide 6: H1 2024 – very strong performance across diverse, broad-based business
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks H1 2024 – very strong performance across diverse, broad-based business Continued growth across key geographies Double-digit growth across key therapy areas H1 2024 Total Revenue, $m H1 2024 Total Reven
Slide 7: Significant pipeline momentum in H1 2024
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Significant pipeline momentum in H1 2024 ADRIATIC LAURA DESTINY-Breast06 ECHO NIAGARA Tagrisso expanding Enhertu moving into Calquence first BTKi Imfinzi potential first IO Imfinzi potential first Key
Slide 8: Financial Results
Financial Results Aradhana Sarin CHIEF FINANCIAL OFFICER
Slide 9: H1 and Q2 2024 – Reported profit and loss
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks H1 and Q2 2024 – Reported profit and loss H1 2024 CER change % Total Q2 2024 CER change % Total $m % Revenue $m % Revenue Total Revenue 25,617 18 100 12,938 17 100 - Product Sales 24,629 18 96 12,452 1
Slide 10: H1 and Q2 2024 – Core profit and loss
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks H1 and Q2 2024 – Core profit and loss H1 2024 CER change % Total Q2 2024 CER change % Total $m % Revenue $m % Revenue Total Revenue 25,617 18 100 12,938 17 100 - Product Sales 24,629 18 96 12,452 18 96
Slide 11: Net debt and capital expenditure
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Net debt and capital expenditure Net cash inflow from operating activities increased 15% in H1 2024 Net debt bridge Capital expenditure $bn • Anticipate ~50% increase in tangible capex in 2024, due to
Slide 12: Global demand growth across leading medicines
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Global demand growth across leading medicines Top medicines by H1 2024 Total Revenue BIBP Strong underlying growth supports upgraded FY 2024 guidance 12 Collaboration partners: Daiichi Sankyo (Enhertu)
Slide 13: FY 2024 guidance
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks FY 2024 guidance Upgraded FY 2024 guidance at CER reflecting strong underlying performance Total Revenue Core EPS • Mid teens percentage increase • Mid teens percentage increase (previously low double-
Slide 14: Oncology
Oncology Dave Fredrickson ONCOLOGY BUSINESS Susan Galbraith ONCOLOGY R&D
Slide 15: Oncology – H1 and Q2 2024
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Oncology – H1 and Q2 2024 Total Revenue +22% in H1 2024 driven by global demand for key medicines Oncology Q2 2024: key dynamics H1 2024 $10.4bn, +22% 6,000 • Tagrisso +12%, ADAURA, FLAURA and FLAURA2
Slide 16: Oncology – R&D highlights
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Oncology – R&D highlights Positive readouts expand AstraZeneca presence across key tumour types Practice changing data at ASCO and EHA Expanding oncology leadership into bladder cancer NIAGARA – first
Slide 17: BioPharmaceuticals
BioPharmaceuticals Ruud Dobber BIOPHARMACEUTICALS BUSINESS Sharon Barr BIOPHARMACEUTICALS R&D
Slide 18: BioPharmaceuticals – H1 and Q2 2024
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks BioPharmaceuticals – H1 and Q2 2024 Total Revenue $10.4bn, +17% – demand growth, accelerating new launch momentum CVRM R&I Q2 2024: key dynamics H1 2024 $6.2bn, +22% H1 2024 $3.8bn, +22% 2,000 3,000 •
Slide 19: BioPharmaceuticals – R&D highlights
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks BioPharmaceuticals – R&D highlights Positive readouts build confidence in CVRM pipeline multi-blockbuster potential balcinrenone/dapagliflozin FDC AZD0780 (oPCSK9) | Phase I1 dyslipidaemia | Phase IIb
Slide 20: Rare Disease
Rare Disease Marc Dunoyer CHIEF EXECUTIVE OFFICER, ALEXION
Slide 21: Rare Disease – H1 and Q2 2024
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Rare Disease – H1 and Q2 2024 Total Revenue +15% in H1 2024 driven by neurology Rare Disease Q2 2024: key dynamics H1 2024 $4.2bn, +15% 2,500 C5 Franchise: sustainable, durable growth 2,000 • Ultomiris
Slide 22: Rare Disease – R&D highlights
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Rare Disease – R&D highlights Amolyt Pharma acquisition completed, eneboparatide Phase III anticipated H1 2025 eneboparatide | hypoparathyroidism $1-3bn* A rare endocrine disorder characterised by defi
Slide 23: CEO Closing Remarks
CEO Closing Remarks Pascal Soriot CHIEF EXECUTIVE OFFICER
Slide 24: Delivering leading growth and long-term value creation
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Delivering leading growth and long-term value creation Ambition to deliver $80bn in On track to deliver mid-30s% Ambition to deliver at least 20 Total Revenue by 20301 Core operating margin by 2026 NME
Slide 25: Multiple high-value medicines to drive leading growth
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks Multiple high-value medicines to drive leading growth Existing medicines and NME opportunities with $5bn+ potential Wainua Tagrisso camizestrant saruparib dapa FDCs Dato-DXd AZD0486 baxdrostat Farxiga
Slide 26: Rich catalyst path and confidence building news-flow
CEO Opening Remarks Financial Results Oncology BioPharmaceuticals Rare Disease CEO Closing Remarks AstraZeneca – rich catalyst path and confidence building news-flow supports long-term growth ambition H2 2024 Phase III readouts Key Phase III readouts anticipated in 2025 and data presentations camize
Slide 27: Q&A Session
Q&A Session Pascal Soriot Aradhana Sarin Marc Dunoyer E XE CUTIVE DIRE CTOR & E XE CUTIVE DIRE CTOR & CHIE F E XE CUTIVE OFFICE R, CHIE F E XE CUTIVE OFFICE R CHIE F FIN AN CIAL OFFICE R ALE XION Susan Galbraith Dave Fredrickson Sharon Barr E XE CUTIVE VICE PRE SIDE N T, E XE CUTIVE VICE PRE SIDE N
Slide 28: Appendix & Glossary
Appendix & Glossary • Glossary • Oncology tumour maps • Emerging Markets performance • Key medicines performance by therapy area
Slide 29: Glossary – abbreviations
GLOSSARY Glossary – abbreviations ADC antibody conjugate EM Emerging Markets K+ Potassium PTH parathyroid hormone API active pharmaceutical ingredient EPS Earnings per share LA long-acting QCS quantitative continuous scoring ASCO American society of clinical oncology EPS earnings per share LDL-C low
Slide 30: AstraZeneca in Lung Cancer
A P P E 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 unresectable metastatic Leading the future of Stg. I-III Stg. I-II Stg. III 1L 2L+ lung cancer treatment Est. epi (G7) ~200K ~30K ~70K ~350K
Slide 31: AstraZeneca in Breast Cancer
A P P E N D I X | Oncology tumour maps AstraZeneca in Breast Cancer Ambition to eliminate breast cancer as a cause of death All numbers are approximate. Illustrative settings and populations, not to scale. 31 Collaboration partners: Daiichi Sankyo (Enhertu, Dato-DXd), Merck & Co., Inc. (Lynparza). A
Slide 32: Oncology – Tagrisso and Lynparza
A P P E N D I X | Total Revenue Performance Oncology Tagrisso Lynparza 13% growth at CER to $3,203m in H1 2024 9% growth at CER to $1,450m in H1 2024 1,800 1,200 1,600 1,000 1,400 1,200 800 Total Revenue ($m) Total Revenue ($m) 1,000 600 800 600 400 400 200 200 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q
Slide 33: Oncology – Imfinzi and Imjudo
A P P E N D I X | Total Revenue Performance Oncology Imfinzi Imjudo 25% growth at CER to $2,259m in H1 2024 38% growth at CER to $136m in H1 2024 1,400 80 70 1,200 60 1,000 Total Revenue ($m) 50 Total Revenue ($m) 800 40 600 30 400 20 200 10 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 34: Oncology – Calquence and Enhertu
A P P E N D I X | Total Revenue Performance Oncology Calquence Enhertu 28% growth at CER to $1,508m in H1 2024 62% growth at CER to $932m in H1 2024 900 500 800 450 700 400 350 600 Total Revenue ($m) Total Revenue ($m) 300 500 250 400 200 300 150 200 100 100 50 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q
Slide 35: BioPharmaceuticals: Cardiovascular, Renal & Metabolism
A P P E N D I X | Total Revenue Performance BioPharmaceuticals: Cardiovascular, Renal & Metabolism Farxiga Brilinta Lokelma 38% growth at CER to $3,836m in H1 2024 2% growth at CER to $665m in H1 2024 30% growth at CER to $249m in H1 2024 2,500 400 160 350 140 2,000 300 120 Total Revenue ($m) 100 To
Slide 36: BioPharmaceuticals: Respiratory & Immunology
A P P E N D I X | Total Revenue Performance BioPharmaceuticals: Respiratory & Immunology Fasenra Breztri Tezspire 6% growth at CER to $781m in H1 2024 51% growth at CER to $454m in H1 2024 >2x at CER to $280m in H1 2024 450 250 180 400 160 350 200 140 300 120 Total Revenue ($m) Total Revenue ($m) To
Slide 37: BioPharmaceuticals: Respiratory & Immunology
A P P E N D I X | Total Revenue Performance BioPharmaceuticals: Respiratory & Immunology Symbicort Pulmicort 19% growth at CER to $1,491m in H1 2024 14% growth at CER to $379m in H1 2024 900 250 800 700 200 600 Total Revenue ($m) Total Revenue ($m) 150 500 400 100 300 200 50 100 0 0 Q2 Q3 Q4 Q1 Q2 Q
Slide 38: Rare Disease
A P P E N D I X | Total Revenue Performance Rare Disease Ultomiris Soliris Strensiq 35% growth at CER to $1,804m in H1 2024 8% decrease at CER to $1,439m in H1 2024 18% growth at CER to $653m in H1 2024 1,000 1,200 400 900 350 1,000 800 300 700 800 Total Revenue ($m) Total Revenue ($m) 250 Total Rev