Slide 1: Q1 2025 Results
Q1 2025 Results Conference call and webcast for investors and analysts 29 April 2025
Slide 2: Forward-looking statements
Forward-looking statements 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.
Slide 3: Conference call agenda
Q1 2025 Results Conference call agenda CEO Opening Remarks Pascal Soriot Chief Executive Officer Financial Results Aradhana Sarin Chief Financial Officer Oncology Haematology Dave Fredrickson Susan Galbraith EVP, Oncology Haematology Business EVP, Oncology Haematology R&D BioPharmaceuticals Ruud Dob
Slide 4: CEO Opening Remarks
CEO Opening Remarks Pascal Soriot CHIEF EXECUTIVE OFFICER 4
Slide 5: Strong commercial and pipeline delivery in Q1 2025
Strong commercial and pipeline delivery in Q1 2025 Sustained commercial Continued pipeline momentum delivery 5 positive Phase III +10% Total Revenue1 readouts 9 NMEs delivered toward 13 new approvals ambition of 20 by 2030 in key regions2,3 Key indication expansion with approval of +21% Core EPS1 Im
Slide 6: Q1 2025 – benefit from broad-based global business
Q1 2025 – benefit from broad-based global business Broad-based, diverse source of Total Revenue Q1 2025 | % Total Revenue by therapy area Strength across Oncology CVRM R&I V&I Other Rare Disease therapy areas 42% 24% 15% 2% 2% 15% Q1 2025 | Total Revenue ($m) Oncology BioPharmaceuticals Rare Disease
Slide 7: Investing in transformative technologies and global R&D footprint
Investing in transformative technologies and global R&D footprint to support long-term growth ambitions Value-enhancing business development in Q1 2025 Cambridge, UK Gothenburg, Sweden Gaithersburg, US Boston, US – Kendall Sq. In-vivo cell therapy Novel modalities Innovative delivery • Proposed acqu
Slide 8: A growing broad-based global footprint
A growing broad-based global footprint Resilient, dual-source supply chain with investment in transformative technologies Södertälje, Sweden Biologics filling capabilities Existing site Legend New site Dublin, Ireland Increasing New API facility investment Rockville, Maryland Next-generation cell
Slide 9: Financial Results
Financial Results Aradhana Sarin CHIEF FINANCIAL OFFICER 9
Slide 10: Q1 2025 – Reported profit and loss
Q1 2025 – Reported profit and loss Q1 2025 CER change % Total $m % Revenue - Product Sales 12,875 9 95 - Alliance Revenue 639 42 5 Product Revenue 13,514 10 99 - Collaboration Revenue 74 64 1 Total Revenue 13,588 10 100 Gross Margin 84% - - R&D expense (3,159) 15 23 - SG&A expense (4,492) 3 33 Total
Slide 11: Q1 2025 – Core profit and loss
Q1 2025 – Core profit and loss Q1 2025 CER change % Total $m % Revenue - Product Sales 12,875 9 95 - Alliance Revenue 639 42 5 Product Revenue 13,514 10 99 - Collaboration Revenue 74 64 1 Total Revenue 13,588 10 100 Gross Margin 84% - - R&D expense (3,088) 16 23 - SG&A expense (3,457) 4 25 Total ope
Slide 12: FY 2025 guidance reiterated
FY 2025 guidance reiterated Net cash inflow from operating activities increased by 49% in Q1 2025 Net debt/Adjusted EBITDA 1.5x FY 2025 guidance (CER) $bn 0.5 Total Revenue 3.7 0.8 3.3 anticipated to increase by a high single-digit percentage 0.5 Core EPS 26.1 anticipated to increase by a low double
Slide 13: Oncology
Oncology Dave Fredrickson ONCOLOGY HAEMATOLOGY BUSINESS Susan Galbraith ONCOLOGY HAEMATOLOGY R&D 13
Slide 14: Oncology – Q1 2025
Oncology – Q1 2025 Strong demand across key regions, partly offset by oral oncolytics Part D redesign in US Oncology Q1 2025: key dynamics 7,000 Q1 2025 $5.6bn, +13% • Tagrisso +8%, increasing demand across indications, strong LAURA launch uptake 6,000 • Calquence +8%, continued BTKi leadership in C
Slide 15: Oncology – strong catalyst flow in Q1 2025
Oncology – strong catalyst flow in Q1 2025 Positive key Phase III readouts reinforce leadership in breast and GI cancers ASCO plenary ASCO plenary camizestrant SERENA-6 MATTERHORN DESTINY-Breast09 Builds on AEGEAN and NIAGARA First positive oral SERD Phase III in 1L Moves Enhertu earlier in HER2+ mB
Slide 16: Oncology – advancing transformative technologies
Oncology – advancing transformative technologies Progress with in-house ADCs at Society of Gynecologic Oncology 2025 Encouraging puxitatug samrotecan Phase I/IIa data in endometrial cancer AZD0901 Phase III Cldn18.2 P-Sam Phase I/II III B7H4 • Promising ORR 34.6-38.5% B7H4 • Preliminary 7.0 months m
Slide 17: BioPharmaceuticals
BioPharmaceuticals Ruud Dobber BIOPHARMACEUTICALS BUSINESS Sharon Barr BIOPHARMACEUTICALS R&D 17
Slide 18: BioPharmaceuticals – Q1 2025
BioPharmaceuticals – Q1 2025 Total Revenue $5.6bn, +12%, strong demand growth in expanding classes of medicines CVRM R&I Q1 2025: key dynamics Q1 2025 $3.3bn, +13% Q1 2025 $2.1bn, +13% 3,500 2,500 • Farxiga +17%, global demand growth mainly driven by CKD and HF 3,000 • Lokelma +38%, market leader in
Slide 19: BioPharmaceuticals – potential best in class oral PCSK9
BioPharmaceuticals – potential best in class oral PCSK9 to address high unmet need in dyslipidaemia AZD0780 (oPCSK9) Phase IIb PURSUIT met primary endpoint1,2 Progressing into three Phase IIIs ≥50% LDL-C reduction at 12 weeks3 LDL-C reduction 84% of patients met AHA/ACC guideline- recommended LDL-C
Slide 20: Rare Disease
Rare Disease Marc Dunoyer CHIEF EXECUTIVE OFFICER, ALEXION 20
Slide 21: Rare Disease – Q1 2025
Rare Disease – Q1 2025 Total Revenue $2bn, confidence in future growth despite certain headwinds Rare Disease Q1 2025: key dynamics Q1 2025 $2bn, +0% C5 Franchise 2,500 • Ultomiris +25%, demand growth across indications, offset by some competitive pressure in gMG and PNH and Part D redesign in US 2,
Slide 22: Rare Disease – advancing Ultomiris in rare indications
Rare Disease – advancing Ultomiris in rare indications Expanding into rare haematology and renal diseases Potential blockbuster opportunity for Ultomiris Advancing ambition in HSCT-TMA across paeds and adults in rare renal diseases TMA-314 TMA-313 aHUS DGF Launched AWAKE | Initiating Phase III demon
Slide 23: CEO Closing Remarks
CEO Closing Remarks Pascal Soriot CHIEF EXECUTIVE OFFICER 23
Slide 24: 2025 key Phase III readouts represent >$10bn opportunity
2025 key Phase III readouts represent >$10bn opportunity1 H1 2025 H2 2025 SERENA-6 1L ESR1m HR+/HER2- CAEL-101/2 light chain amyloidosis HICKORY/CHESTNUT HPP camizestrant breast cancer anselamimab efzimfotase alfa First Phase III CALYPSO hypoparathyroidism BaxHTN uncontrolled or ALXN1720-MG-301 gMG
Slide 25: On track to deliver on 2030 ambitions
On track to deliver on 2030 ambitions supported by strong growth and pipeline momentum 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 NMEs by 2030 Strong growth in 2025 with global Growth in SG&A slower t
Slide 26: Q&A Session
Q&A Session Pascal Soriot Aradhana Sarin CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER Marc Dunoyer Susan Galbraith CHIEF EXECUTIVE OFFICER, EVP, ONCOLOGY HAEMATOLOGY R&D ALEXION Dave Fredrickson Sharon Barr EVP, ONCOLOGY EVP, BIOPHARMACEUTICALS R&D HAEMATOLOGY BUSINESS Ruud Dobber Iskra Reic EVP,
Slide 27: Appendix
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Slide 28: Appendix – AstraZeneca P&L reference table
Appendix – AstraZeneca P&L reference table P&L line-item definitions P&L line-item definition Product Sales • Recognises sales from territories where Group has lead commercialisation • Recognises supply of Beyfortus to Sanofi Alliance Revenue • Alliance Revenue comprises income arising from the ongo
Slide 29: AstraZeneca in Lung Cancer (NSCLC)
AP P E ND I X | Oncology tumour maps AstraZeneca in Lung Cancer (NSCLC) Overview of commercial portfolio and pivotal trials Resectable Unresectable Metastatic Stg. I Stg. II-III Stg. I-II Stg. III 1L 2L 3L+ Est. epi (G7, 2025) ~150K ~70K ~50K ~100K ~310K ~190K ~70K Imfinzi CRT → Imfinzi Imfinzi + Im
Slide 30: AstraZeneca in Breast Cancer
AP P E ND I X | Oncology tumour maps AstraZeneca in Breast Cancer Overview of commercial portfolio and pivotal trials Early Metastatic Neoadjuvant Adjuvant 1st line 2nd line 3rd line 4th line + Est. epi (G7, 2025) 540k 135k 100k 75k 60k HER2-positive Enhertu + THP NST→ residual disease → Enhertu Enh
Slide 31: Significant progress with transformative technologies to drive 2030+ growth
Appendix – Significant progress with transformative technologies to drive 2030+ growth Weight management ADCs and Cell therapy and Gene therapy and Next-gen IO bispecifics and risk factors Radioconjugates T-cell engagers gene editing Establish and Develop scalable cell Replace systemic Make cure pos
Slide 32: Oncology – Tagrisso and Lynparza
AP P E ND I X | Product Revenue Performance Oncology Tagrisso Lynparza 8% growth at CER to $1,679m in Q1 2025 5% growth at CER to $726m in Q1 2025 1,800 900 1,600 800 1,400 700 1,200 600 Product Revenue ($m) Product Revenue ($m) 1,000 500 800 400 600 300 400 200 200 100 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q
Slide 33: Oncology – Imfinzi and Imjudo
AP P E ND I X | Product Revenue Performance Oncology Imfinzi Imjudo 16% growth at CER to $1,261m in Q1 2025 33% growth at CER to $80m in Q1 2025 1,400 90 80 1,200 70 1,000 60 Product Revenue ($m) Product Revenue ($m) 800 50 40 600 30 400 20 200 10 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 34: Oncology – Calquence and Enhertu
AP P E ND I X | Product Revenue Performance Oncology Calquence Enhertu 8% growth at CER to $762m in Q1 2025 34% growth at CER to $596m in Q1 2025 900 700 800 600 700 500 600 Product Revenue ($m) Product Revenue ($m) 500 400 400 300 300 200 200 100 100 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q1 Q2 Q3 Q4 Q1 Q2
Slide 35: BioPharmaceuticals: Cardiovascular, Renal & Metabolism
AP P E ND I X | Product Revenue Performance BioPharmaceuticals: Cardiovascular, Renal & Metabolism Farxiga Brilinta Lokelma 16% growth at CER to $2,058m in Q1 2025 4% decrease at CER to $305m in Q1 2025 38% growth at CER to $153m in Q1 2025 2,500 400 180 350 160 2,000 140 300 120 Product Revenue ($m
Slide 36: BioPharmaceuticals: Respiratory & Immunology
AP P E ND I X | Product Revenue Performance BioPharmaceuticals: Respiratory & Immunology Fasenra Tezspire Saphnelo 19% growth at CER to $418m in Q1 2025 85% growth at CER to $217m in Q1 2025 51% growth at CER to $136m in Q1 2025 500 250 160 450 140 400 200 120 350 Product Revenue ($m) Product Revenu
Slide 37: BioPharmaceuticals: Respiratory & Immunology
AP P E ND I X | Product Revenue Performance BioPharmaceuticals: Respiratory & Immunology Breztri Symbicort 39% growth at CER to $300m in Q1 2025 3% decrease at CER to $723m in Q1 2025 350 900 800 300 700 250 600 Product Revenue ($m) Product Revenue ($m) 200 500 150 400 300 100 200 50 100 0 0 Q1 Q2 Q
Slide 38: Rare Disease
AP P E ND I X | Product Revenue Performance Rare Disease Ultomiris Strensiq Koselugo 25% growth at CER to $1,050m in Q1 2025 14% growth at CER to $352m in Q1 2025 8% growth at CER to $138m in Q1 2025 1,200 450 180 400 160 1,000 350 140 800 300 120 Product Revenue ($m) Product Revenue ($m) Product Re
Slide 39: Glossary
Glossary 1L, 2L, 3L first-, second-, third-line FLOT luorouracil, leucovorin, oxaliplatin and docetaxel oPCSK9 oral protein convertase subtilisin/kexin type 9 AAV adeno-associated virus FRα folate receptor alpha ORR overall response rate ACC American College of Cardiology FX foreign exchange OS over
Slide 40: Confidentiality Notice
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