|
|
|
Q1 2022
|
|
|
|
|
|
% Change
|
||
|
|
$m
|
Actual
|
CER1
|
|
- Product Sales
|
|
10,980
|
51
|
56
|
|
- Collaboration Revenue
|
|
410
|
n/m 2
|
n/m
|
|
Total Revenue
|
|
11,390
|
56
|
60
|
|
Reported3 EPS4
|
|
$0.25
|
(79)
|
(73)
|
|
Core5 EPS 6
|
|
$1.89
|
16
|
20
|
|
|
|
|
|
|
|
|
|
|
% Change
|
|
|
|||
Revenue type
|
|
$m
|
Actual
|
CER
|
|
|
||
Product Sales
|
|
10,980
|
51
|
56
|
|
$1,688m
from medicines acquired with Alexion
|
||
Collaboration Revenue
|
|
410
|
n/m
|
n/m
|
|
$76m for Enhertu (Q1 2021: $39m), and milestone payments of
$175m for Lynparza and $70m for tralokinumab (Q1 2021:
$nil)
|
||
Total Revenue
|
|
11,390
|
56
|
60
|
|
|
||
Disease areas
|
|
$m
|
Actual
|
CER
|
|
|
||
Oncology
|
|
3,644
|
21
|
25
|
|
Product
Sales up 14% (18% CER). Strong performance despite a continuing
COVID-19 impact on cancer diagnoses and
treatment rates
|
||
CVRM
|
|
2,219
|
14
|
18
|
|
Farxiga grew 60% (67% at CER) to
$1,001m
|
||
R&I
|
|
1,584
|
2
|
4
|
|
Pulmicort declined 34% primarily due to inclusion in
China's VBP18 programme,
implemented in October 2021
|
||
V&I19
|
|
1,814
|
20 >6x
|
>6x
|
|
$1,145m from Vaxzevria21 and
$469m from Evusheld
Majority of Vaxzevria revenue from initial contracts, several of
which completed during the quarter. In-line with
guidance, Vaxzevria revenue is expected to decline in later
quarters
|
||
Rare Disease
|
|
1,694
|
3
|
7
|
|
Durable C5 franchise growth, including continued
conversion from Soliris to Ultomiris in PNH22 and
aHUS23,
and Soliris growth in gMG and NMOSD24
|
||
Other Medicines
|
|
435
|
(18)
|
(15)
|
|
|
||
Total Revenue
|
|
11,390
|
56
|
60
|
|
|
||
Regions exc. Vaxzevria
|
|
$m
|
Actual
|
CER
|
|
|
||
Emerging Markets
|
|
2,833
|
11
|
14
|
|
|
||
- China
|
|
1,575
|
(6)
|
(8)
|
|
Pricing pressure associated with the
NRDL25 and
VBP programmes
|
||
- Ex-China Emerging Markets
|
|
1,258
|
45
|
57
|
|
$110m
from medicines acquired with Alexion
|
||
US
|
|
4,055
|
76
|
76
|
|
$1,014m
from medicines acquired with Alexion
|
||
Europe
|
|
2,150
|
63
|
73
|
|
$366m
from medicines acquired with Alexion
|
||
Established RoW
|
|
1,207
|
40
|
51
|
|
$208m
from medicines acquired with Alexion
|
||
Total Revenue exc. Vaxzevria
|
|
10,245
|
45
|
50
|
|
$1,698m
from medicines acquired with Alexion
|
||
Regions inc. Vaxzevria
|
|
$m
|
Actual
|
CER
|
|
|
||
Emerging Markets
|
|
3,364
|
30
|
32
|
|
Impacted by quarterly phasing
of Vaxzevria
|
||
- China
|
|
1,622
|
(3)
|
(6)
|
|
In
line with FY 2022 guidance
|
||
- Ex-China Emerging Markets
|
|
1,742
|
91
|
>2x
|
|
|
||
US
|
|
4,134
|
79
|
79
|
|
|
||
Europe
|
|
2,284
|
48
|
57
|
|
|
||
Established RoW
|
|
1,608
|
85
|
98
|
|
|
||
Total Revenue
|
|
11,390
|
56
|
60
|
|
|
||
|
|
|
|
|
|
|
|
|
Q1 2022
|
|
|
||||
Metric($m or %)
|
Reported
|
Reported change
|
Core
|
Corechange
|
|
Comments26
|
Total Revenue
|
11,390
|
56% Actual 60% CER
|
11,390
|
56% Actual 60% CER
|
|
See
Table 1
|
Gross Margin27
|
68%
|
-6pp Actual-7pp CER
|
79%
|
+5pp Actual
+4pp CER
|
|
+
Contribution of Alexion
+
Increasing mix of Oncology sales
‒ Increasing
mix of COVID-19 therapies
‒ China
impact of NRDL and VBP
‒ Increasing
impact from profit-sharing arrangements including
the Lynparza collaboration with MSD
‒ Reported
impacted by unwind of Alexion inventory fair value
adjustment
|
R&D Expense
|
2,133
|
24% Actual 26% CER
|
2,186
|
33% Actual 36% CER
|
|
+
Increased investment in pipeline
+
Addition of Alexion R&D
‒ Beneficial
phasing of costs resulted in a Core R&D-to-Total Revenue ratio
of 19% (FY 2021: 21%)
|
SG&A Expense
|
4,840
|
65% Actual 68% CER
|
2,946
|
23% Actual 25% CER
|
|
+
Addition of Alexion
+
Reported impacted by $775m legal settlement with Chugai
Pharmaceutical Co. Ltd and amortisation related to Alexion
acquisition
‒ Beneficial
phasing of costs resulted in a Core SG&A-to-Total Revenue ratio
of 26% (FY 2021: 30%)
|
Other Operating Income28
|
97
|
(92%) Actual
(92%) CER
|
98
|
(92%) Actual (92%) CER
|
|
Limited
divestments in quarter, majority of income coming from royalties
and prior transactions
|
Operating Margin
|
8%
|
-18pp Actual-18pp CER
|
35%
|
Stable Actualand CER
|
|
See
Gross Margin and Expensescommentary above
|
Net Finance Expense
|
319
|
13% Actual 7% CER
|
252
|
35% Actual 23% CER
|
|
+
Alexion debt financing costs
‒ Reported
impacted by lower discount unwind on acquisition-related
liabilities
|
Tax Rate
|
30%
|
+27pp
|
21%
|
+13pp
|
|
In-line
with full year expectation of 18-22%
+
The Tax Rate in the comparable period of Q1 2021 was favourably
impacted by the disposal of Viela and settlements with tax
authorities
|
EPS
|
$0.25
|
(79%) Actual(73%) CER
|
$1.89
|
16% Actual 20% CER
|
|
Further
details of differences between Reported and Core are shown in Table
10
|
Event
|
Medicine
|
Indication / Trial
|
Event
|
|
Lynparza
|
gBRCA[29] breast
cancer (adjuvant) (OlympiA)
|
Regulatory approval (US)
|
Regulatory
approvals and
other regulatory
actions
|
Saphnelo
|
SLE[30]
|
Regulatory approval (EU)
|
Ondexxya
|
Acute major bleed
|
Regulatory approval (JP)
|
|
Evusheld
|
COVID-19 pre-exposure prophylaxis (PROVENT)
|
Regulatory approval (EU)
|
|
|
Ultomiris
|
gMG (CHAMPION-MG)
|
Regulatory approval (US)
|
|
Imfinzi
|
Biliary tract cancer (TOPAZ-1)
|
Regulatory submission (JP)
|
|
Imfinzi +
tremelimumab
|
Advanced liver cancer (1st-line) (HIMALAYA)
|
Priority review (US), regulatory submission (EU, JP)
|
|
Lynparza
|
Prostate cancer (1st-line) (PROpel)
|
Regulatory submission (JP)
|
Regulatory
submissions or
acceptances
|
Enhertu
|
HER2m NSCLC[31] (2nd-line+)
(DESTINY-Lung01)
|
Priority review (US)
|
Calquence
|
CLL[32] (ELEVATE-TN)
|
Regulatory submission (JP)
|
|
|
nirsevimab
|
RSV (MELODY/MEDLEY)
|
Regulatory submission and EMA accelerated assessment
(EU)
|
|
Evusheld
|
COVID-19 outpatient treatment (TACKLE)
|
Regulatory submission (US, EU)
|
|
Ultomiris
|
Subcutaneous, PNH and aHUS
|
Regulatory submission (EU)
|
|
Imfinzi
|
Cervical cancer (CALLA)
|
Primary endpoint not met
|
Major Phase III
data readouts
and other
developments
|
Imfinzi
|
Biliary tract cancer (TOPAZ-1)
|
Orphan Drug Designation (JP)
|
Enhertu
|
HER2+ breast cancer (2nd-line) (DESTINY-Breast03)
|
Breakthrough Drug Designation (CN)
|
|
Enhertu
|
HER2-low breast cancer(DESTINY-Breast04)
|
Primary endpoint met, Breakthrough Drug Designation,
RTOR[33] (US)
|
|
|
Fasenra
|
Nasal polyps (OSTRO)
|
Complete response letter (US)
|
|
Brilinta
|
|
Paediatric exclusivity (US)
|
Timing
|
Medicine
|
Indication / Trial
|
Event
|
H1 2022
|
Imfinzi
|
Biliary tract cancer (TOPAZ-1)
|
Regulatory submission (US, EU)
|
|
Lynparza
|
Prostate cancer (1st-line) (PROpel)
|
Regulatory submission (US)
|
|
Enhertu
|
HER2+ breast cancer (2nd-line) (DESTINY-Breast03)
|
Regulatory decision (US), regulatory submission (CN)
|
|
Enhertu
|
HER2-low breast cancer (3rd-line) (DESTINY-Breast04)
|
Regulatory submission
|
|
Forxiga
|
CKD[34] (DAPA-CKD)
|
Regulatory decision (CN)
|
|
Farxiga
|
HFpEF[35] (DELIVER)
|
Data readout
|
|
eplontersen
|
hATTR-PN[36] (NEURO-TTRansform)
|
Data readout[37]
|
|
Brilinta
|
Stroke (THALES)
|
Regulatory decision (CN)
|
|
Tezspire
|
Severe asthma (NAVIGATOR)
|
Regulatory decision (EU, JP)
|
|
PT027
|
Asthma
|
Regulatory submission (US)
|
|
Evusheld
|
COVID-19 outpatient treatment (EU)
|
Regulatory decision (EU)
|
|
Vaxzevria
|
COVID-19
|
Regulatory submission (US)
|
|
Ultomiris
|
NMOSD
|
Data readout
|
H2 2022
|
Tagrisso
|
EGFRm NSCLC (adjuvant) (ADAURA)
|
Regulatory decision (JP)
|
|
Imfinzi
|
Biliary tract cancer (TOPAZ-1)
|
Regulatory decision
|
|
Imfinzi
|
Liver cancer (locoregional)(EMERALD-1)
|
Data readout, regulatory submission
|
|
Imfinzi
|
NSCLC (1st-line) (PEARL)
|
Data readout
|
|
Imfinzi
|
NSCLC (unresectable, Stg. III) (PACIFIC-2)
|
Data readout
|
|
Imfinzi
|
Limited-stage SCLC (ADRIATIC)
|
Data readout
|
|
Imfinzi +/-
tremelimumab
|
NSCLC (1st-line) (POSEIDON)
|
Regulatory decision
|
|
Imfinzi +/-
tremelimumab
|
Liver cancer (1L) (HIMALAYA)
|
Regulatory decision
|
|
Lynparza
|
gBRCA breast cancer (adjuvant) (OlympiA)
|
Regulatory decision (EU, JP)
|
|
Lynparza
|
Ovarian cancer (1st-line) (PAOLA-1)
|
Regulatory decision (CN)
|
|
Lynparza
|
Prostate cancer (1st-line) (PROpel)
|
Regulatory decision
|
|
Enhertu
|
HER2+ breast cancer (3rd-line) (DESTINY-Breast02)
|
Data readout, regulatory submission
|
|
Enhertu
|
HER2+ breast cancer (2nd-line) (DESTINY-Breast03)
|
Regulatory decision (EU, JP)
|
|
Enhertu
|
HER2+ gastric cancer (2nd-line) (DESTINY-Gastric01)
|
Regulatory decision (EU)
|
|
Enhertu
|
HER2m NSCLC (2nd-line+)(DESTINY-Lung01)
|
Regulatory decision
|
|
capivasertib
|
HR+/HER2-neg breast cancer (1st-line) (CAPItello-291)
|
Data readout
|
|
Farxiga
|
HFpEF (DELIVER)
|
Regulatory submission
|
|
eplontersen
|
hATTR-PN
|
Regulatory submission (US)
|
|
Fasenra
|
EOE[38] (MESSINA)
|
Data readout
|
|
nirsevimab
|
RSV (MELODY/MEDLEY)
|
Regulatory submission (US) and regulatory decision
|
|
Evusheld
|
COVID-19 (TACKLE/PROVENT)
|
Regulatory submission (JP, CN)
|
|
Evusheld
|
COVID-19 outpatient treatment (TACKLE)
|
Regulatory decision
|
|
Utomiris
|
gMG (CHAMPION-MG)
|
Regulatory decision (EU, JP)
|
|
Ultomiris
|
Subcutaneous, PNH and aHUS
|
Regulatory decision
|
|
Ultomiris
|
NMOSD
|
Regulatory submission
|
|
Koselugo
|
NF1-PN (SPRINT)
|
Regulatory submission (CN), regulatory decision (JP)
|
2023
|
Tagrisso
|
EGFRm[39] NSCLC
(1st-line) (FLAURA2)
|
Data readout, regulatory submission
|
|
Tagrisso
|
EGFRm NSCLC (unresectable Stg. III) (LAURA)
|
Data readout, regulatory submission
|
|
Imfinzi
|
Bladder cancer (muscle invasive) (NIAGARA)
|
Data readout, regulatory submission
|
|
Imfinzi
|
Bladder cancer (1st-line) (NILE)
|
Data readout, regulatory submission
|
|
Imfinzi
|
NSCLC (neoadjuvant) (AEGEAN)
|
Data readout, regulatory submission
|
|
Imfinzi
|
Liver cancer (adjuvant) (EMERALD-2)
|
Data readout, regulatory submission
|
|
Imfinzi
|
NSCLC (unresectable, Stg. III) (PACIFIC-2)
|
Regulatory submission
|
|
Imfinzi
|
NSCLC (1st-line) (PEARL)
|
Regulatory submission
|
|
Imfinzi
|
Limited-stage SCLC (ADRIATIC)
|
Regulatory submission
|
|
Lynparza
|
gBRCA breast cancer (adjuvant) (OlympiA)
|
Regulatory submission (CN)
|
|
Lynparza + Imfinzi
|
Endometrial cancer (1st-line) (DUO-E)
|
Data readout
|
|
Lynparza + Imfinzi
|
Ovarian cancer (1st-line) (DUO-O)
|
Data readout
|
|
Enhertu
|
HER2-low breast cancer (2nd-line) (DESTINY-Breast06)
|
Data readout
|
|
Calquence
|
CLL (ELEVATE-TN)
|
Regulatory decision (JP)
|
|
Calquence
|
CLL (ACE-CL-311)
|
Data readout
|
|
Calquence
|
MCL[40] (1st-line)
(ECHO)
|
Data readout
|
|
capivasertib
|
TNBC[41] (locally
adv./met.)(CAPItello-290)
|
Data readout, regulatory submission
|
|
capivasertib
|
HR+/HER2-neg breast cancer (1st-line) (CAPItello-291)
|
Regulatory submission
|
|
camizestrant
|
HR+/HER2-neg breast cancer (SERENA-6)
|
Data readout
|
|
Dato-DXd
|
NSCLC (3rd-line) (TROPION-Lung01)
|
Data readout, regulatory submission
|
|
Farxiga
|
Myocardial infarction (DAPA-MI)
|
Data readout
|
|
roxadustat
|
Anaemia of myelodysplastic syndrome
|
Data readout
|
|
Fasenra
|
Bullous pemphigoid (FJORD)
|
Data readout
|
|
Fasenra
|
CRwNP[42] (ORCHID)
|
Data readout
|
|
Fasenra
|
EGPA[43] (MANDARA)
|
Data readout
|
|
Fasenra
|
EOE (MESSINA)
|
Regulatory submission
|
|
Fasenra
|
HES (NATRON)
|
Data readout
|
|
Fasenra
|
Severe asthma (MIRACLE)
|
Data readout
|
|
nirsevimab
|
RSV (MELODY/MEDLEY)
|
Regulatory submission (JP, CN)
|
|
Soliris
|
Guillain-Barre syndrome
|
Data readout
|
|
ALXN1840
|
Wilson disease
|
Regulatory submission
|
|
danicopan
|
PNH with extravascular haemolysis
|
Data readout, regulatory submission
|
|
|
Q1 2022
|
|||
|
|
|
|
% Change
|
|
Product Sales
|
|
$m
|
% Total
|
Actual
|
CER
|
Oncology
|
|
3,388
|
30
|
14
|
18
|
- Tagrisso
|
|
1,304
|
11
|
14
|
17
|
- Imfinzi
|
|
599
|
5
|
8
|
11
|
- Lynparza
|
|
617
|
5
|
14
|
17
|
- Calquence
|
|
414
|
4
|
98
|
100
|
- Enhertu
|
|
11
|
-
|
>9x
|
>9x
|
- Orpathys
|
|
13
|
-
|
n/m
|
n/m
|
- Zoladex
|
|
240
|
2
|
9
|
12
|
- Faslodex
|
|
93
|
1
|
(24)
|
(20)
|
- Iressa
|
|
32
|
-
|
(47)
|
(47)
|
- Arimidex
|
|
32
|
-
|
(27)
|
(25)
|
- Casodex
|
|
21
|
-
|
(48)
|
(47)
|
- Others
|
|
12
|
-
|
1
|
6
|
BioPharmaceuticals: CVRM
|
|
2,207
|
19
|
14
|
17
|
- Farxiga
|
|
1,000
|
9
|
60
|
67
|
- Brilinta
|
|
325
|
3
|
(13)
|
(10)
|
- Lokelma
|
|
63
|
1
|
92
|
97
|
- Roxadustat
|
|
41
|
-
|
6
|
4
|
- Andexxa10
|
|
33
|
-
|
13
|
14
|
- Crestor
|
|
267
|
2
|
(2)
|
-
|
- Seloken/Toprol-XL
|
|
244
|
2
|
(2)
|
(1)
|
- Bydureon
|
|
68
|
1
|
(34)
|
(33)
|
- Onglyza
|
|
68
|
1
|
(33)
|
(31)
|
- Others
|
|
98
|
1
|
(15)
|
(13)
|
BioPharmaceuticals: R&I
|
|
1,509
|
13
|
(2)
|
-
|
- Symbicort
|
|
674
|
6
|
(2)
|
-
|
- Fasenra
|
|
308
|
3
|
18
|
22
|
- Breztri
|
|
87
|
1
|
>3x
|
>3x
|
- Saphnelo
|
|
11
|
-
|
n/m
|
n/m
|
- Pulmicort
|
|
217
|
2
|
(34)
|
(34)
|
- Daliresp
|
|
51
|
-
|
(16)
|
(16)
|
- Bevespi
|
|
15
|
-
|
15
|
14
|
- Others
|
|
146
|
1
|
(9)
|
(9)
|
BioPharmaceuticals: V&I
|
|
1,757
|
15
|
>5x
|
>6x
|
- Vaxzevria
|
|
1,089
|
10
|
>3x
|
>4x
|
- Evusheld
|
|
469
|
4
|
n/m
|
n/m
|
- Synagis
|
|
200
|
2
|
>8x
|
>8x
|
- FluMist
|
|
(1)
|
-
|
n/m
|
n/m
|
Rare Disease10
|
|
1,694
|
15
|
3
|
7
|
- Soliris10
|
|
990
|
9
|
(5)
|
-
|
- Ultomiris10
|
|
419
|
4
|
20
|
25
|
- Strensiq10
|
|
208
|
2
|
5
|
7
|
- Koselugo
|
|
39
|
-
|
82
|
85
|
- Kanuma10
|
|
38
|
-
|
9
|
15
|
Other Medicines
|
|
425
|
4
|
(19)
|
(15)
|
- Nexium
|
|
332
|
3
|
(18)
|
(13)
|
- Others
|
|
93
|
1
|
(22)
|
(22)
|
Product Sales
|
|
10,980
|
96
|
51
|
56
|
Collaboration Revenue
|
|
410
|
4
|
n/m
|
n/m
|
Total Revenue
|
|
11,390
|
100
|
56
|
60
|
|
|
Q1 2022
|
|||
|
|
|
|
% Change
|
|
|
|
$m
|
% Total
|
Actual
|
CER
|
Lynparza: milestone
revenue
|
|
175
|
43
|
n/m
|
n/m
|
Enhertu: share of gross
profits
|
|
75
|
18
|
96
|
96
|
Royalty income
|
|
73
|
18
|
n/m
|
n/m
|
Tralokinumab: sales milestones
|
|
70
|
17
|
n/m
|
n/m
|
Other Collaboration Revenue
|
|
17
|
4
|
n/m
|
n/m
|
Total
|
|
410
|
100
|
n/m
|
n/m
|
|
|
Q1 2022
|
|||
|
|
|
% of
|
% Change
|
|
|
|
$m
|
Total
|
Actual
|
CER
|
Emerging Markets
|
|
3,364
|
30
|
30
|
32
|
- China
|
|
1,622
|
14
|
(3)
|
(6)
|
- Ex-China
|
|
1,742
|
15
|
91
|
>2x
|
US
|
|
4,134
|
36
|
79
|
79
|
Europe
|
|
2,284
|
20
|
48
|
57
|
Established RoW
|
|
1,608
|
14
|
85
|
98
|
Total
|
|
11,390
|
100
|
56
|
60
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
1,304
|
|
406
|
439
|
252
|
207
|
Actual change
|
|
14%
|
|
32%
|
6%
|
12%
|
2%
|
CER change
|
|
17%
|
|
33%
|
6%
|
21%
|
11%
|
Region
|
|
|
Worldwide
|
|
Increased
adjuvant and 1st-line use offset by a continued adverse COVID-19
impact on diagnosis, testing and treatment
|
Emerging Markets
|
|
Increased
1st-line use in China and continued growth in other Emerging
Markets
Tagrisso was admitted to the China NRDL in March 2021
for the 1st-line setting and renewed in the 2nd-line setting,
resulting in an adverse effect on the comparator period from lower
sales to distributors prior to the change and stock compensation
payments
Rising
demand from increased patient access in China has now offset the
impact of the March 2021 NRDL price reduction
|
US
|
|
Greater
1st-line and adjuvant use, with longer duration of treatment,
partially offset by lower 2nd-line use and a continued adverse
COVID-19 impact
At
the end of Q1 rates of diagnosis, testing and treatment in lung
cancer are showing some signs of recovery, but remained around
5-15% below baseline
|
Established RoW
|
|
Increased
use in 1st-line and adjuvant settings
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
599
|
|
58
|
315
|
125
|
101
|
Actual change
|
|
8%
|
|
2%
|
8%
|
15%
|
4%
|
CER change
|
|
11%
|
|
3%
|
8%
|
23%
|
12%
|
Region
|
|
|
Worldwide
|
|
Increased use
of Imfinzi to
treat patients with ES-SCLC[45] was
offset by impact from lower rates of diagnosis and treatment due to
the current COVID-19 wave
|
Emerging Markets
|
|
Growth
in ex-China continued, offset in China by reduction in inventory
held by distributors and hospitals
|
US
|
|
Growth
driven new patient starts across Stage III NSCLC and ES-SCLC,
despite the impact of COVID-19 on lung cancer diagnoses in recent
months, offset by unfavourable seasonal inventory and gross-to-net
movements
|
Europe
|
|
ES-SCLC
market penetration increased, as did the number of reimbursed
markets, offsetting the COVID-19 impact on rates of diagnosis and
treatment
|
Established RoW
|
|
Growth
driven by new reimbursements
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
792
|
|
121
|
270
|
335
|
66
|
Actual change
|
|
46%
|
|
39%
|
7%
|
>2x
|
22%
|
CER change
|
|
50%
|
|
43%
|
7%
|
>2x
|
32%
|
Product Sales
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
617
|
|
121
|
270
|
160
|
66
|
Actual change
|
|
14%
|
|
39%
|
7%
|
8%
|
22%
|
CER change
|
|
17%
|
|
43%
|
7%
|
16%
|
32%
|
Region
|
|
|
Worldwide
|
|
Total
Revenue includes a $175m regulatory milestone received from MSD and
recognised in the Europe geographic segment, in respect of the
approval in the US for the adjuvant treatment of patients with
breast cancer, based on the data from the OlympiA Phase III
trial
Product sales growth was driven
by further launches across multiple cancer types
globally. Lynparza remains
the leading medicine in the PARP[46]-inhibitor
class globally across four tumour types, as measured by total
prescription volume
|
Emerging Markets
|
|
Patient access to Lynparza increased following admission to China's
NRDL as a 1st-line treatment for ovarian cancer patients with
effect from March 2021 and launches in other
markets
|
US
|
|
Growth
in use in ovarian, breast and prostate cancers, offset by an
adverse gross-to-net movement related to seasonal increase in
Part-D related deductions typically seen in the first quarter, and
reductions in inventory held by distributors
|
Europe
|
|
Reimbursements introduced in
additional countries, increasing BRCAm-testing rates, and
successful 1st-line BRCAm ovarian, 2nd-line HRRm[47] prostate
and gBRCAm HER2-negative advanced breast cancer
launches
|
Established RoW
|
|
Strong
year on year growth driven by new product launches and high levels
of HRD testing in Japan
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
86
|
|
9
|
57
|
20
|
1
|
Actual change
|
|
>2x
|
|
>7x
|
61%
|
>5x
|
n/m
|
CER change
|
|
>2x
|
|
>7x
|
61%
|
>5x
|
n/m
|
Region
|
|
|
Worldwide
|
|
Excluding
Japan, global in-market sales recorded by Daiichi Sankyo Company
Limited (Daiichi Sankyo) and AstraZeneca, amounted to $166m in the
quarter (Q1 2021: $81m)
|
US
|
|
US
in-market sales, recorded by Daiichi Sankyo, amounted to $119m in
the quarter (Q1 2021: $73m)
|
Established RoW
|
|
In
Japan, AstraZeneca receives a mid-single-digit percentage royalty
on sales made by Daiichi Sankyo
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
414
|
|
7
|
339
|
55
|
13
|
Actual change
|
|
98%
|
|
>3x
|
74%
|
>5x
|
>4x
|
CER change
|
|
100%
|
|
>3x
|
74%
|
>6x
|
>4x
|
Region
|
|
|
US
|
|
Strong
performance despite COVID-19 impacts on CLL diagnosis rates,
benefitting from increased new patient market share
|
Europe
|
|
Increased
market share in new patient starts after launches in the
region
|
|
|
Q1 2022
|
% Change
|
|
||
Total Revenue
|
|
$m
|
Actual
|
CER
|
Commentary
|
|
Zoladex
|
|
247
|
10
|
13
|
Increase
driven by usage in emerging markets
|
|
Faslodex
|
|
93
|
(24)
|
(20)
|
|
|
Iressa
|
|
32
|
(47)
|
(47)
|
|
|
Arimidex
|
|
32
|
(27)
|
(25)
|
|
|
Casodex
|
|
21
|
(48)
|
(47)
|
|
|
Others
|
|
12
|
1
|
6
|
|
|
|
|
|
|
|
|
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
1,001
|
|
391
|
193
|
318
|
99
|
Actual change
|
|
60%
|
|
50%
|
48%
|
83%
|
64%
|
CER change
|
|
67%
|
|
54%
|
48%
|
97%
|
76%
|
Region
|
|
|
Worldwide
|
|
The SGLT2[49] inhibitor
class saw growth in many regions, with Farxiga volume
growing faster than the overall SGLT2 market in most major regions.
Performance also reflecting further HF and CKD launches and updated
treatment guidelines including from ESC[50],
AHA[51] and
ACC[52],
and beneficial impact from gross-to-net adjustments in the US
versus Q1 2021
|
Emerging Markets
|
|
China performance was enhanced by
uACR[53] and
MRF[54] testing
program, and solid growth in ex-China Emerging
Markets. Forxiga's NRDL
status in China was renewed in the fourth quarter of
2021
|
US
|
|
Continued strong growth,
following the regulatory approval for HFrEF in May 2020, the
approval for the treatment of CKD in May 2021, and the
aforementioned gross-to-net adjustments. Both approvals included
patients with and without T2D[55]. Farxiga continued
to gain in-class brand share driven by HF and CKD
launches.
|
Europe
|
|
SGLT2
inhibitor class growth, the beneficial addition of cardiovascular
outcomes trial data to the label, the HFrEF regulatory approval in
November 2020, and CKD regulatory approval in August
2021
|
Established RoW
|
|
In
Japan, sales to collaborator Ono Pharmaceutical Co., Ltd, which
records in-market sales, more than doubled to $69m
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
325
|
|
69
|
166
|
76
|
14
|
Actual change
|
|
(13%)
|
|
(35%)
|
-
|
(13%)
|
(5%)
|
CER change
|
|
(10%)
|
|
(32%)
|
-
|
(6%)
|
(1%)
|
Region
|
|
|
Worldwide
|
|
Continued
adverse China VBP impact and fewer elective procedures in the EU
and US due to the effects of the pandemic
|
Total Revenue
|
|
Q1 2022
|
% Change
|
|
||
|
|
$m
|
Actual
|
CER
|
|
|
Crestor
|
|
268
|
(2)
|
-
|
Sales
decline in the US and Europe offset by growth in Emerging
Markets
|
|
Seloken/Toprol-XL
|
|
245
|
(2)
|
(1)
|
Emerging Markets sales impacted
by China VBP implementation of Betaloc[56] oral
in H2 2021. Betaloc ZOK VBP
to be implemented later in 2022
|
|
Bydureon
|
|
68
|
(34)
|
(33)
|
Continued
competitive pressures
|
|
Onglyza
|
|
68
|
(33)
|
(31)
|
Continued declines in
DPP-4[57] inhibitor
class
|
|
Others
|
|
98
|
(15)
|
(13)
|
|
|
|
|
|
|
|
|
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
674
|
|
167
|
259
|
157
|
91
|
Actual change
|
|
(2%)
|
|
1%
|
(2%)
|
(7%)
|
(1%)
|
CER change
|
|
-
|
|
3%
|
(2%)
|
-
|
3%
|
Region
|
|
|
Worldwide
|
|
Symbicort remains the global market-volume and value
leader within the ICS/LABA class.
Market
share performance was driven by Established RoW and Emerging
Markets, and growth in anti-inflammatory reliever launch
markets
The
global ICS/LABA market continues to be eroded as fixed-dose triple
therapies (LAMA/LABA/ICS) continue to launch
|
Emerging Markets
|
|
Driven
by growth outside China. China continues to be impacted by
fixed-dose triple therapy launches
|
US
|
|
Maintained
total prescription market share in a declining ICS/LABA market as
fixed-dose triple therapy launches continue. Continued growth
in the authorised generic
|
Established RoW
|
|
Sales
in Japan declined due to continued generic erosion
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
308
|
|
7
|
189
|
75
|
37
|
Actual change
|
|
18%
|
|
>2x
|
22%
|
20%
|
(5%)
|
CER change
|
|
22%
|
|
>2x
|
22%
|
29%
|
2%
|
Region
|
|
|
Worldwide
|
|
Expanded total market leadership in eosinophilic
asthma, Fasenra is the leading IL-5 class biologic, in major
markets (US, Japan and some EU countries). COVID-19 continues to
impact total severe asthma market growth with most regions
experiencing a slower growth
|
US
|
|
Sustained
growth driven by volume
|
Europe
|
|
Increased
volume from sustained leadership in new to brand prescriptions, in
most EU markets
|
Established RoW
|
|
In
Japan, revenues declined by 13% (5% at CER) to $23m, with rising
demand and sustained leadership in new to brand prescriptions,
offset by reduced demand from distributors ahead of expected
mandatory price reduction in April
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
87
|
|
22
|
53
|
5
|
7
|
Actual change
|
|
>3x
|
|
>2x
|
>4x
|
>7x
|
46%
|
CER change
|
|
>3x
|
|
>2x
|
>4x
|
>8x
|
59%
|
Region
|
|
|
Worldwide
|
|
Continued
to gain market share within the fixed-dose triple markets; in US,
China and Japan.
|
Emerging Markets
|
|
Continued
its market share leadership within the fixed-dose triple market in
China, which continues to gain share from the ICS/LABA
class
|
US
|
|
Progress
made in new to brand market share growth in the fixed-dose triple
market
|
Europe
|
|
Launches
continued in Europe
|
Established RoW
|
|
Sales
in Japan were impacted by COVID-19 restrictions
|
|
|
Q1 2022
|
% Change
|
|
||
Total Revenue
|
|
$m
|
Actual
|
CER
|
|
|
Pulmicort
|
|
217
|
(34)
|
(34)
|
Revenue
from Emerging Markets decreased 43% to $164m
Pulmicort
Respules was included in
the latest round of VBP in China, implemented in October 2021,
resulted in significantly lower market access and a mandatory price
reduction.
|
|
Daliresp
|
|
51
|
(16)
|
(16)
|
|
|
Bevespi
|
|
15
|
15
|
14
|
|
|
Others
|
|
218
|
32
|
32
|
|
|
|
|
|
|
|
|
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
1,145
|
|
530
|
79
|
135
|
400
|
Actual change
|
|
>4x
|
|
>10x
|
n/m
|
(40%)
|
>10x
|
CER change
|
|
>4x
|
|
>10x
|
n/m
|
(37%)
|
>10x
|
Region
|
|
|
Worldwide
|
|
The
majority of revenue in Q1 2022 came from initial, not-for-profit
contracts
|
Emerging Markets
|
|
Growth
was driven by initial and commercial contracts in Latin America and
Asia
$46m
of Collaboration Revenue came from a Chinese
sub-licensee
|
US
|
|
Purchases
by the US government for donation overseas
|
Europe
|
|
Sales were down versus Q1 2021, when Europe
accounted for 82% of Vaxzevria revenue as vaccination programmes were
rolled out in the UK and the EU
|
Established RoW
|
|
Sales
in Japan, Canada and Australia
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
469
|
|
89
|
307
|
66
|
8
|
Actual change
|
|
n/m
|
|
n/m
|
n/m
|
n/m
|
n/m
|
CER change
|
|
n/m
|
|
n/m
|
n/m
|
n/m
|
n/m
|
Region
|
|
|
US
|
|
Emergency
Use Authorisation was granted in December 2021, and in Q1
2022
AstraZeneca fulfilled a proportion of the US
government order for 1.7m units of Evusheld (a unit consists of one 150mg vial of
cilgavimab and one 150mg vial of tixagevimab). The remainder of
that order will be fulfilled before the end of
2022
|
Emerging Markets
|
|
Multiple
government contracts
|
Europe
|
|
Evusheld was approved in the EU in the
quarter
|
|
|
Q1 2022
|
% Change
|
|
||
Total Revenue
|
|
$m
|
Actual
|
CER
|
|
|
Synagis
|
|
200
|
>8x
|
>8x
|
Q1 2022 captures all global revenues
from Synagis by destination. In the comparable period,
revenues reflected AstraZeneca's ex-US collaboration agreement with
AbbVie, which expired on 30 June 2021 in which all ex-US revenue
was reported in Europe. The regional growth rates shown in Table 22
have also been impacted by the change
|
|
FluMist
|
|
(1)
|
n/m
|
n/m
|
Normal seasonality of FluMist sales
|
|
|
|
|
|
|
|
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
990
|
|
71
|
591
|
221
|
107
|
Actual change
|
|
(5%)
|
|
(41%)
|
7%
|
(15%)
|
4%
|
CER change
|
|
-
|
|
(28%)
|
7%
|
(8%)
|
11%
|
Region
|
|
|
US
|
|
Performance driven by Soliris growth in neurology indications, gMG and
NMOSD, offset by continued conversion to Ultomiris in PNH and aHUS
|
Ex-US
|
|
Strong
underlying demand growth in EU and ERoW, EM growth impacted by
prior year tender market order timing
|
Total Revenue
|
|
Worldwide
|
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
Q1 2022 $m
|
|
419
|
|
24
|
220
|
105
|
70
|
Actual change
|
|
20%
|
|
n/m
|
6%
|
54%
|
(4%)
|
CER change
|
|
25%
|
|
n/m
|
6%
|
65%
|
7%
|
Region
|
|
|
Worldwide
|
|
Continued
conversion and launches in new markets outside the US
Quarter-on-quarter revenue growth variability can
be expected due to Ultomiris every eight-week dosing schedule and lower
average annual treatment cost per patient compared
to Soliris
|
US
|
|
Continued
COVID-19 impact on rate of aHUS diagnoses and treatment
coupled with hospital reimbursement dynamics favouring
Soliris
|
Ex-US
|
|
Performance
driven by new market approvals for PNH
|
|
|
Q1 2022
|
% Change
|
|
|||
Total Revenue
|
|
$m
|
Actual
|
CER
|
Commentary
|
|
|
Strensiq
|
|
208
|
5
|
7
|
Performance
impacted by inventory and payer dynamics
|
|
|
Koselugo
|
|
39
|
82
|
85
|
Reimbursed
in 14 markets with ambition to continue expansion
|
|
|
Kanuma
|
|
38
|
9
|
15
|
Performance
driven by markets outside the US
|
|
|
|
|
|
|
|
|
|
|
|
|
Q1 2022
|
% Change
|
|
|||
Total Revenue
|
|
$m
|
Actual
|
CER
|
Commentary
|
|
|
Nexium
|
|
338
|
(17)
|
(13)
|
Nexium
(oral) was included in China's VBP programme implemented in
February 2021 and Nexium (i.v.) was implemented in the fifth round
of VBP in October 2021.
|
|
|
Others
|
|
97
|
(22)
|
(21)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q1 2022
|
Q1 2021
|
%
Change
|
||
|
|
$m
|
$m
|
Actual
|
CER
|
|
Total Revenue
|
|
11,390
|
7,320
|
56
|
60
|
|
- Product Sales
|
|
10,980
|
7,257
|
51
|
56
|
|
- Collaboration Revenue
|
|
410
|
63
|
n/m
|
n/m
|
|
Cost of Sales
|
|
(3,511)
|
(1,864)
|
88
|
98
|
|
Gross Profit
|
|
7,879
|
5,456
|
44
|
48
|
|
Gross Margin
|
|
68.0%
|
74.3%
|
-6
|
-7
|
|
Distribution Expense
|
|
(125)
|
(99)
|
26
|
32
|
|
% Total Revenue
|
|
1.1%
|
1.4%
|
-
|
-
|
|
R&D Expense
|
|
(2,133)
|
(1,713)
|
24
|
26
|
|
% Total Revenue
|
|
18.7%
|
23.4%
|
+5
|
+5
|
|
SG&A Expense
|
|
(4,840)
|
(2,929)
|
65
|
68
|
|
% Total Revenue
|
|
42.5%
|
40.0%
|
-2
|
-2
|
|
OOI[58] &
Expense
|
|
97
|
1,180
|
(92)
|
(92)
|
|
% Total Revenue
|
|
0.9%
|
16.1%
|
-15
|
-15
|
|
Operating Profit
|
|
878
|
1,895
|
(54)
|
(46)
|
|
Operating Margin
|
|
7.7%
|
25.9%
|
-18
|
-18
|
|
Net Finance Expense
|
|
(319)
|
(283)
|
13
|
7
|
|
Joint Ventures and Associates
|
|
(6)
|
(4)
|
38
|
53
|
|
Profit before tax
|
|
553
|
1,608
|
(66)
|
(56)
|
|
Taxation
|
|
(165)
|
(46)
|
n/m
|
n/m
|
|
Tax rate
|
|
30%
|
3%
|
|
|
|
Profit after tax
|
|
388
|
1,562
|
(75)
|
(68)
|
|
Earnings per share
|
|
$0.25
|
$1.19
|
(79)
|
(73)
|
|
|
|
Q1 2022
|
Q1 2021
|
%
Change
|
|
|
|
$m
|
$m
|
Actual
|
CER
|
Reported Profit before tax
|
|
553
|
1,608
|
(66)
|
(56)
|
Net Finance Expense
|
|
319
|
283
|
13
|
7
|
Joint Venture and Associates
|
|
6
|
4
|
38
|
53
|
Depreciation, Amortisation and Impairment
|
|
1,309
|
797
|
64
|
56
|
EBITDA
|
|
2,187
|
2,692
|
(19)
|
(16)
|
Q1 2022
|
Reported
|
Restructuring
|
Intangible Asset Amortisation & Impairments
|
Acquisition of Alexion
|
Other
|
Core[59]
|
Core
% Change
|
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
Actual
|
CER
|
Gross Profit
|
7,879
|
51
|
8
|
1,181
|
-
|
9,119
|
66
|
70
|
Gross Margin
|
68.0%
|
|
|
|
|
79.3%
|
+5
|
+4
|
Distribution Expense
|
(125)
|
1
|
-
|
-
|
-
|
(124)
|
25
|
30
|
R&D Expense
|
(2,133)
|
5
|
(69)
|
11
|
-
|
(2,186)
|
33
|
36
|
SG&A Expense
|
(4,840)
|
17
|
1,098
|
17
|
762
|
(2,946)
|
23
|
25
|
Total Operating Expense
|
(7,098)
|
23
|
1,029
|
28
|
762
|
(5,256)
|
27
|
29
|
OOI & Expense
|
97
|
1
|
-
|
-
|
-
|
98
|
(92)
|
(92)
|
Operating Profit
|
878
|
75
|
1,037
|
1,209
|
762
|
3,961
|
57
|
60
|
Operating Margin
|
7.7%
|
|
|
|
|
34.8%
|
-
|
-
|
Net Finance Expense
|
(319)
|
-
|
-
|
-
|
67
|
(252)
|
35
|
23
|
Taxation
|
(165)
|
(15)
|
(191)
|
(280)
|
(121)
|
(772)
|
n/m
|
n/m
|
EPS
|
$0.25
|
$0.04
|
$0.55
|
$0.60
|
$0.45
|
$1.89
|
16
|
20
|
|
|
Q1 2022
|
Q1 2021
|
Change
|
|
|
$m
|
$m
|
$m
|
Reported Operating Profit
|
|
878
|
1,895
|
(1,017)
|
Depreciation, Amortisation and Impairment
|
|
1,309
|
797
|
512
|
Decrease in Working Capital and Short-term Provisions
|
|
1,804
|
1,210
|
594
|
Gains on Disposal of Intangible Assets
|
|
(10)
|
(310)
|
300
|
Gains on Disposal of Investments in Associates and Joint
Ventures
|
|
-
|
(776)
|
776
|
Non-Cash and Other Movements
|
|
(327)
|
(363)
|
36
|
Interest Paid
|
|
(194)
|
(187)
|
(7)
|
Taxation Paid
|
|
(228)
|
(332)
|
104
|
Net Cash Inflow from Operating Activities
|
|
3,232
|
1,934
|
1,298
|
Net Cash Inflow before Financing Activities
|
|
3,064
|
2,489
|
575
|
Net Cash Outflow from Financing Activities
|
|
(3,740)
|
(2,731)
|
(1,009)
|
|
|
At 31 Mar 2022
|
At 31 Dec 2021
|
At 31 Mar 2021
|
|
|
$m
|
$m
|
$m
|
Cash and cash equivalents
|
|
5,762
|
6,329
|
7,636
|
Other investments
|
|
61
|
69
|
129
|
Cash and investments
|
|
5,823
|
6,398
|
7,765
|
Overdrafts and short-term borrowings
|
|
(805)
|
(387)
|
(581)
|
Lease liabilities
|
|
(949)
|
(987)
|
(680)
|
Current instalments of loans
|
|
(1,264)
|
(1,273)
|
(1,461)
|
Non-current instalments of loans
|
|
(28,081)
|
(28,134)
|
(17,410)
|
Interest-bearing loans and borrowings
(Gross Debt)
|
|
(31,099)
|
(30,781)
|
(20,132)
|
Net derivatives
|
|
59
|
61
|
162
|
Net Debt
|
|
(25,217)
|
(24,322)
|
(12,205)
|
|
|
Q1 2022
|
Q1 2021
|
|
|
$m
|
$m
|
Total revenue
|
|
-
|
-
|
Gross profit
|
|
-
|
-
|
Operating loss
|
|
(1)
|
(20)
|
Loss for the period
|
|
(155)
|
(166)
|
Transactions with subsidiaries that are not issuers or
guarantors
|
|
164
|
2,148
|
|
|
At 31 Mar 2022
|
At 31 Mar 2021
|
|
|
$m
|
$m
|
Current assets
|
|
19
|
28
|
Non-current assets
|
|
-
|
-
|
Current liabilities
|
|
(1,682)
|
(1,656)
|
Non-current liabilities
|
|
(25,605)
|
(17,072)
|
Amounts due from subsidiaries that are not issuers or
guarantors
|
|
8,652
|
6,243
|
Amounts due to subsidiaries that are not issuers or
guarantors
|
|
(297)
|
(295)
|
|
|
|
Average exchange
rates versus USD
|
|
Annual impact of 5%
strengthening in exchange rate versus USD ($m)[60]
|
Currency
|
Primary Relevance
|
|
FY 2021[61]
|
Q1 2022[62]
|
% Change
|
Total Revenue
|
Core Operating Profit
|
CNY
|
Total Revenue
|
|
6.43
|
6.35
|
1
|
277
|
158
|
EUR
|
Total Revenue
|
|
0.85
|
0.89
|
(5)
|
317
|
160
|
JPY
|
Total Revenue
|
|
109.83
|
116.32
|
(6)
|
229
|
158
|
Other[63]
|
|
|
|
|
|
420
|
196
|
GBP
|
Operating Expense
|
|
0.73
|
0.75
|
(2)
|
61
|
(93)
|
SEK
|
Operating Expense
|
|
8.58
|
9.33
|
(8)
|
6
|
(82)
|
For the quarter ended 31 March
|
2022
|
2021
|
$m
|
$m
|
Total Revenue
|
11,390
|
7,320
|
Product Sales
|
10,980
|
7,257
|
Collaboration Revenue
|
410
|
63
|
Cost of Sales
|
(3,511)
|
(1,864)
|
Gross profit
|
7,879
|
5,456
|
Distribution expense
|
(125)
|
(99)
|
Research and development expense
|
(2,133)
|
(1,713)
|
Selling, general and administrative expense
|
(4,840)
|
(2,929)
|
Other operating income and expense
|
97
|
1,180
|
Operating profit
|
878
|
1,895
|
Finance income
|
17
|
20
|
Finance expense
|
(336)
|
(303)
|
Share of after tax losses in associates and joint
ventures
|
(6)
|
(4)
|
Profit before tax
|
553
|
1,608
|
Taxation
|
(165)
|
(46)
|
Profit for the period
|
388
|
1,562
|
|
|
|
Other comprehensive income
|
|
|
Items that will not be reclassified to profit or loss
|
|
|
Remeasurement of the defined benefit pension liability
|
335
|
481
|
Net gains/(losses) on equity investments measured at fair value
through other comprehensive income
|
18
|
(108)
|
Fair value movements related to own credit risk on bonds designated
as fair value through profit or loss
|
-
|
1
|
Tax on items that will not be reclassified to profit or
loss
|
(94)
|
(94)
|
|
259
|
280
|
Items that may be reclassified subsequently to profit or
loss
|
|
|
Foreign exchange arising on consolidation
|
(219)
|
(107)
|
Foreign exchange arising on designated borrowings in net investment
hedges
|
(32)
|
(302)
|
Fair value movements on cash flow hedges
|
5
|
(86)
|
Fair value movements on cash flow hedges transferred to profit or
loss
|
11
|
121
|
Fair value movements on derivatives designated in net investment
hedges
|
(8)
|
13
|
Costs of hedging
|
-
|
(1)
|
Tax on items that may be reclassified subsequently to profit or
loss
|
1
|
26
|
|
(242)
|
(336)
|
Other comprehensive income/(loss) for the period, net of
tax
|
17
|
(56)
|
Total comprehensive income for the period
|
405
|
1,506
|
|
|
|
Profit attributable to:
|
|
|
Owners of the Parent
|
386
|
1,561
|
Non-controlling interests
|
2
|
1
|
|
388
|
1,562
|
Total comprehensive income attributable to:
|
|
|
Owners of the Parent
|
405
|
1,506
|
Non-controlling interests
|
-
|
-
|
|
405
|
1,506
|
Basic earnings per $0.25 Ordinary Share
|
$0.25
|
$1.19
|
Diluted earnings per $0.25 Ordinary Share
|
$0.25
|
$1.18
|
Weighted average number of Ordinary Shares in issue
(millions)
|
1,548
|
1,312
|
Diluted weighted average number of Ordinary Shares in issue
(millions)
|
1,561
|
1,319
|
|
At 31 Mar 2022
|
At 31 Dec 2021
|
At 31 Mar 2021
|
|
$m
|
$m
|
$m
|
Assets
|
|
|
|
Non-current assets
|
|
|
|
Property, plant and equipment
|
9,061
|
9,183
|
8,189
|
Right-of-use assets
|
954
|
988
|
660
|
Goodwill
|
19,963
|
19,997
|
11,765
|
Intangible assets
|
41,265
|
42,387
|
20,347
|
Investments in associates and joint ventures
|
63
|
69
|
88
|
Other investments
|
1,174
|
1,168
|
972
|
Derivative financial instruments
|
87
|
102
|
115
|
Other receivables
|
864
|
895
|
549
|
Deferred tax assets
|
4,195
|
4,330
|
3,506
|
|
77,626
|
79,119
|
46,191
|
Current assets
|
|
|
|
Inventories
|
7,624
|
8,983
|
4,278
|
Trade and other receivables
|
8,683
|
9,644
|
6,281
|
Other investments
|
61
|
69
|
129
|
Derivative financial instruments
|
54
|
83
|
64
|
Intangible assets
|
96
|
105
|
-
|
Income tax receivable
|
367
|
663
|
347
|
Cash and cash equivalents
|
5,762
|
6,329
|
7,636
|
Assets held for sale
|
-
|
368
|
-
|
|
22,647
|
26,244
|
18,735
|
Total assets
|
100,273
|
105,363
|
64,926
|
|
|
|
|
Liabilities
|
|
|
|
Current liabilities
|
|
|
|
Interest-bearing loans and borrowings
|
(2,069)
|
(1,660)
|
(2,042)
|
Lease liabilities
|
(225)
|
(233)
|
(216)
|
Trade and other payables
|
(17,864)
|
(18,938)
|
(17,370)
|
Derivative financial instruments
|
(35)
|
(79)
|
(16)
|
Provisions
|
(1,423)
|
(768)
|
(875)
|
Income tax payable
|
(1,124)
|
(916)
|
(994)
|
|
(22,740)
|
(22,594)
|
(21,513)
|
Non-current liabilities
|
|
|
|
Interest-bearing loans and borrowings
|
(28,081)
|
(28,134)
|
(17,410)
|
Lease liabilities
|
(724)
|
(754)
|
(464)
|
Derivative financial instruments
|
(47)
|
(45)
|
(1)
|
Deferred tax liabilities
|
(5,626)
|
(6,206)
|
(2,823)
|
Retirement benefit obligations
|
(1,991)
|
(2,454)
|
(2,545)
|
Provisions
|
(949)
|
(956)
|
(576)
|
Other payables
|
(3,756)
|
(4,933)
|
(5,148)
|
|
(41,174)
|
(43,482)
|
(28,967)
|
Total liabilities
|
(63,914)
|
(66,076)
|
(50,480)
|
Net assets
|
36,359
|
39,287
|
14,446
|
Equity
|
|
|
|
Capital and reserves attributable to equity holders of the
Parent
|
|
|
|
Share capital
|
387
|
387
|
328
|
Share premium account
|
35,131
|
35,126
|
7,976
|
Other reserves
|
2,050
|
2,045
|
2,037
|
Retained earnings
|
(1,228)
|
1,710
|
4,089
|
|
36,340
|
39,268
|
14,430
|
Non-controlling interests
|
19
|
19
|
16
|
Total equity
|
36,359
|
39,287
|
14,446
|
|
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 2021
|
328
|
7,971
|
2,024
|
5,299
|
15,622
|
16
|
15,638
|
Profit for the period
|
-
|
-
|
-
|
1,561
|
1,561
|
1
|
1,562
|
Other comprehensive loss
|
-
|
-
|
-
|
(55)
|
(55)
|
(1)
|
(56)
|
Transfer to other reserves
|
-
|
-
|
13
|
(13)
|
-
|
-
|
-
|
Transactions with owners:
|
|
|
|
|
|
|
|
Dividends
|
-
|
-
|
-
|
(2,490)
|
(2,490)
|
-
|
(2,490)
|
Issue of Ordinary Shares
|
-
|
5
|
-
|
-
|
5
|
-
|
5
|
Share-based payments charge for the period
|
-
|
-
|
-
|
82
|
82
|
-
|
82
|
Settlement of share plan awards
|
-
|
-
|
-
|
(295)
|
(295)
|
-
|
(295)
|
Net movement
|
-
|
5
|
13
|
(1,210)
|
(1,192)
|
-
|
(1,192)
|
At 31 Mar 2021
|
328
|
7,976
|
2,037
|
4,089
|
14,430
|
16
|
14,446
|
At 1 Jan 2022
|
387
|
35,126
|
2,045
|
1,710
|
39,268
|
19
|
39,287
|
Profit for the period
|
-
|
-
|
-
|
386
|
386
|
2
|
388
|
Other comprehensive income
|
-
|
-
|
-
|
19
|
19
|
(2)
|
17
|
Transfer to other reserves
|
-
|
-
|
5
|
(5)
|
-
|
-
|
-
|
Transactions with owners:
|
|
|
|
|
|
|
|
Dividends
|
-
|
-
|
-
|
(3,046)
|
(3,046)
|
-
|
(3,046)
|
Issue of Ordinary Shares
|
-
|
5
|
-
|
-
|
5
|
-
|
5
|
Share-based payments charge for the period
|
-
|
-
|
-
|
182
|
182
|
-
|
182
|
Settlement of share plan awards
|
-
|
-
|
-
|
(474)
|
(474)
|
-
|
(474)
|
Net movement
|
-
|
5
|
5
|
(2,938)
|
(2,928)
|
-
|
(2,928)
|
At 31 Mar 2022
|
387
|
35,131
|
2,050
|
(1,228)
|
36,340
|
19
|
36,359
|
For the quarter ended 31 March
|
2022
|
2021
|
$m
|
$m
|
Cash flows from operating activities
|
|
|
Profit before tax
|
553
|
1,608
|
Finance income and expense
|
319
|
283
|
Share of after tax losses of associates and joint
ventures
|
6
|
4
|
Depreciation, amortisation and impairment
|
1,309
|
797
|
Decrease in working capital and short-term provisions
|
1,804
|
1,210
|
Gains on disposal of intangible assets
|
(10)
|
(310)
|
Gains on disposal of investments in associates and joint
ventures
|
-
|
(776)
|
Non-cash and other movements
|
(327)
|
(363)
|
Cash generated from operations
|
3,654
|
2,453
|
Interest paid
|
(194)
|
(187)
|
Tax paid
|
(228)
|
(332)
|
Net cash inflow from operating activities
|
3,232
|
1,934
|
Cash flows from investing activities
|
|
|
Payments upon vesting of employee share awards attributable to
business combinations
|
(55)
|
-
|
Payment of contingent consideration from business
combinations
|
(182)
|
(171)
|
Purchase of property, plant and equipment
|
(219)
|
(220)
|
Disposal of property, plant and equipment
|
-
|
4
|
Purchase of intangible assets
|
(144)
|
(249)
|
Disposal of intangible assets and assets held for sale
|
385
|
418
|
Purchase of non-current asset investments
|
(4)
|
-
|
Disposal of non-current asset investments
|
32
|
-
|
Movement in short-term investments, fixed deposits and other
investing instruments
|
21
|
28
|
Payments to associates and joint ventures
|
(5)
|
(55)
|
Disposal of investments in associates and joint
ventures
|
-
|
776
|
Interest received
|
3
|
24
|
Net cash (outflow)/inflow from investing activities
|
(168)
|
555
|
Net cash inflow before financing activities
|
3,064
|
2,489
|
Cash flows from financing activities
|
|
|
Proceeds from issue of share capital
|
5
|
5
|
Repayment of loans and borrowings
|
(4)
|
(4)
|
Dividends paid
|
(2,971)
|
(2,469)
|
Hedge contracts relating to dividend payments
|
(77)
|
(23)
|
Repayment of obligations under leases
|
(74)
|
(50)
|
Movement in short-term borrowings
|
301
|
(190)
|
Payment of Acerta Pharma share purchase liability
|
(920)
|
-
|
Net cash outflow from financing activities
|
(3,740)
|
(2,731)
|
Net decrease in cash and cash equivalents in the
period
|
(676)
|
(242)
|
Cash and cash equivalents at the beginning of the
period
|
6,038
|
7,546
|
Exchange rate effects
|
(9)
|
(67)
|
Cash and cash equivalents at the end of the period
|
5,353
|
7,237
|
Cash and cash equivalents consist of:
|
|
|
Cash and cash equivalents
|
5,762
|
7,636
|
Overdrafts
|
(409)
|
(399)
|
|
5,353
|
7,237
|
|
At 1 Jan 2022
|
Cash flow
|
Non-cash& other
|
Exchange movements
|
At 31 Mar 2022
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
Non-current instalments of loans
|
(28,134)
|
-
|
6
|
47
|
(28,081)
|
Non-current instalments of leases
|
(754)
|
-
|
21
|
9
|
(724)
|
Total long-term debt
|
(28,888)
|
-
|
27
|
56
|
(28,805)
|
Current instalments of loans
|
(1,273)
|
4
|
5
|
-
|
(1,264)
|
Current instalments of leases
|
(233)
|
70
|
(66)
|
4
|
(225)
|
Commercial paper
|
-
|
(256)
|
-
|
-
|
(256)
|
Bank collateral
|
(93)
|
12
|
-
|
-
|
(81)
|
Other short-term borrowings excluding overdrafts
|
(3)
|
(57)
|
-
|
1
|
(59)
|
Overdrafts
|
(291)
|
(123)
|
-
|
5
|
(409)
|
Total current debt
|
(1,893)
|
(350)
|
(61)
|
10
|
(2,294)
|
Gross borrowings
|
(30,781)
|
(350)
|
(34)
|
66
|
(31,099)
|
Net derivative financial instruments
|
61
|
66
|
(68)
|
-
|
59
|
Net borrowings
|
(30,720)
|
(284)
|
(102)
|
66
|
(31,040)
|
Cash and cash equivalents
|
6,329
|
(553)
|
-
|
(14)
|
5,762
|
Other investments - current
|
69
|
(10)
|
-
|
2
|
61
|
Cash and investments
|
6,398
|
(563)
|
-
|
(12)
|
5,823
|
Net Debt
|
(24,322)
|
(847)
|
(102)
|
54
|
(25,217)
|
|
|
2022
|
2021
|
|
|
Diabetes alliance
|
Other
|
Total
|
Total
|
|
|
$m
|
$m
|
$m
|
$m
|
At 1 January
|
|
2,544
|
321
|
2,865
|
3,323
|
Settlements
|
|
(173)
|
(9)
|
(182)
|
(171)
|
Disposals
|
|
-
|
(121)
|
(121)
|
-
|
Discount unwind
|
|
41
|
1
|
42
|
55
|
At 31 March
|
|
2,412
|
192
|
2,604
|
3,207
|
|
World
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
|||||||||
|
$m
|
Act % chg
|
CER % chg
|
$m
|
Act % chg
|
CER % chg
|
$m
|
% Change
|
$m
|
Act % chg
|
CER % chg
|
$m
|
Act % chg
|
CER % chg
|
Oncology
|
3,388
|
14
|
18
|
895
|
17
|
19
|
1,374
|
17
|
650
|
13
|
21
|
469
|
4
|
12
|
Tagrisso
|
1,304
|
14
|
17
|
406
|
32
|
33
|
439
|
6
|
252
|
12
|
21
|
207
|
2
|
11
|
Imfinzi
|
599
|
8
|
11
|
58
|
2
|
3
|
315
|
8
|
125
|
15
|
23
|
101
|
4
|
12
|
Lynparza
|
617
|
14
|
17
|
121
|
39
|
43
|
270
|
7
|
160
|
8
|
16
|
66
|
22
|
32
|
Calquence
|
414
|
98
|
n/m
|
7
|
n/m
|
n/m
|
339
|
74
|
55
|
n/m
|
n/m
|
13
|
n/m
|
n/m
|
Enhertu
|
11
|
n/m
|
n/m
|
6
|
n/m
|
n/m
|
-
|
-
|
4
|
n/m
|
n/m
|
1
|
n/m
|
n/m
|
Orpathys
|
13
|
n/m
|
n/m
|
13
|
n/m
|
n/m
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Zoladex
|
240
|
9
|
12
|
167
|
22
|
23
|
4
|
(19)
|
34
|
(9)
|
(3)
|
35
|
(18)
|
(9)
|
Faslodex
|
93
|
(24)
|
(20)
|
44
|
3
|
6
|
5
|
(41)
|
17
|
(59)
|
(56)
|
27
|
(8)
|
-
|
Iressa
|
32
|
(47)
|
(47)
|
27
|
(50)
|
(50)
|
2
|
(16)
|
1
|
(48)
|
(44)
|
2
|
(35)
|
(30)
|
Arimidex
|
32
|
(27)
|
(25)
|
25
|
(30)
|
(29)
|
-
|
51
|
1
|
(56)
|
(56)
|
6
|
(7)
|
1
|
Casodex
|
21
|
(48)
|
(47)
|
13
|
(59)
|
(59)
|
-
|
n/m
|
-
|
(24)
|
(24)
|
8
|
(10)
|
(1)
|
Others
|
12
|
1
|
6
|
8
|
3
|
7
|
-
|
n/m
|
1
|
49
|
61
|
3
|
(29)
|
(24)
|
BioPharmaceuticals: CVRM*
|
2,207
|
14
|
17
|
1,025
|
8
|
11
|
522
|
7
|
482
|
31
|
40
|
178
|
28
|
37
|
Farxiga
|
1,000
|
60
|
67
|
391
|
50
|
54
|
193
|
48
|
318
|
83
|
97
|
98
|
66
|
78
|
Brilinta
|
325
|
(13)
|
(10)
|
69
|
(35)
|
(32)
|
166
|
-
|
76
|
(13)
|
(6)
|
14
|
(5)
|
(1)
|
Lokelma
|
63
|
92
|
97
|
3
|
n/m
|
n/m
|
39
|
62
|
6
|
n/m
|
n/m
|
15
|
n/m
|
n/m
|
Roxadustat
|
41
|
6
|
4
|
41
|
6
|
4
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Andexxa*
|
33
|
13
|
14
|
-
|
-
|
-
|
24
|
(7)
|
9
|
n/m
|
n/m
|
-
|
-
|
-
|
Crestor
|
267
|
(2)
|
-
|
197
|
4
|
6
|
18
|
(16)
|
11
|
(48)
|
(44)
|
41
|
(2)
|
6
|
Seloken/Toprol-XL
|
244
|
(2)
|
(1)
|
238
|
(2)
|
(1)
|
-
|
n/m
|
4
|
13
|
7
|
2
|
(7)
|
-
|
Bydureon
|
68
|
(34)
|
(33)
|
1
|
60
|
63
|
57
|
(34)
|
10
|
(28)
|
(23)
|
-
|
(92)
|
(91)
|
Onglyza
|
68
|
(33)
|
(31)
|
34
|
(42)
|
(40)
|
18
|
(2)
|
11
|
(31)
|
(26)
|
5
|
(45)
|
(44)
|
Others
|
98
|
(15)
|
(13)
|
51
|
5
|
7
|
7
|
(58)
|
37
|
(20)
|
(19)
|
3
|
(27)
|
(20)
|
BioPharmaceuticals: R&I
|
1,509
|
(2)
|
-
|
437
|
(19)
|
(19)
|
645
|
17
|
277
|
(7)
|
(1)
|
150
|
-
|
5
|
Symbicort
|
674
|
(2)
|
-
|
167
|
1
|
3
|
259
|
(2)
|
157
|
(7)
|
-
|
91
|
(1)
|
3
|
Fasenra
|
308
|
18
|
22
|
7
|
n/m
|
n/m
|
189
|
22
|
75
|
20
|
29
|
37
|
(5)
|
2
|
Pulmicort
|
217
|
(34)
|
(34)
|
164
|
(43)
|
(43)
|
22
|
26
|
18
|
11
|
20
|
13
|
24
|
28
|
Breztri
|
87
|
n/m
|
n/m
|
22
|
n/m
|
n/m
|
53
|
n/m
|
5
|
n/m
|
n/m
|
7
|
46
|
59
|
Saphnelo
|
11
|
n/m
|
n/m
|
-
|
-
|
-
|
11
|
n/m
|
-
|
-
|
-
|
-
|
-
|
-
|
Daliresp
|
51
|
(16)
|
(16)
|
1
|
(28)
|
(25)
|
47
|
(13)
|
3
|
(45)
|
(41)
|
-
|
6
|
7
|
Bevespi
|
15
|
15
|
14
|
2
|
51
|
30
|
11
|
10
|
2
|
16
|
24
|
-
|
24
|
35
|
Others
|
146
|
(9)
|
(9)
|
74
|
(3)
|
(4)
|
53
|
47
|
17
|
(62)
|
(60)
|
2
|
(53)
|
(51)
|
BioPharmaceuticals: V&I
|
1,757
|
n/m
|
n/m
|
630
|
n/m
|
n/m
|
386
|
n/m
|
286
|
15
|
22
|
455
|
n/m
|
n/m
|
Vaxzevria
|
1,089
|
n/m
|
n/m
|
475
|
n/m
|
n/m
|
79
|
n/m
|
135
|
(40)
|
(37)
|
400
|
n/m
|
n/m
|
Evusheld
|
469
|
n/m
|
n/m
|
89
|
n/m
|
n/m
|
307
|
n/m
|
65
|
n/m
|
n/m
|
8
|
n/m
|
n/m
|
Synagis
|
200
|
n/m
|
n/m
|
66
|
n/m
|
n/m
|
-
|
(97)
|
87
|
n/m
|
n/m
|
47
|
-
|
-
|
FluMist
|
(1)
|
n/m
|
n/m
|
-
|
(98)
|
(98)
|
-
|
n/m
|
(1)
|
n/m
|
n/m
|
-
|
(4)
|
(2)
|
Rare Disease*
|
1,694
|
3
|
7
|
115
|
(12)
|
3
|
1,020
|
7
|
361
|
-
|
8
|
198
|
1
|
10
|
Soliris*
|
990
|
(5)
|
-
|
71
|
(41)
|
(28)
|
591
|
7
|
221
|
(15)
|
(8)
|
107
|
4
|
11
|
Ultomiris*
|
419
|
20
|
25
|
24
|
n/m
|
n/m
|
220
|
6
|
105
|
54
|
65
|
70
|
(4)
|
7
|
Strensiq*
|
208
|
5
|
7
|
9
|
65
|
68
|
161
|
3
|
19
|
(1)
|
6
|
19
|
7
|
19
|
Koselugo
|
39
|
82
|
85
|
5
|
n/m
|
n/m
|
30
|
43
|
4
|
n/m
|
n/m
|
-
|
-
|
-
|
Kanuma*
|
38
|
9
|
15
|
6
|
42
|
59
|
18
|
8
|
12
|
(1)
|
7
|
2
|
10
|
15
|
Other medicines
|
425
|
(19)
|
(15)
|
204
|
(31)
|
(29)
|
39
|
(24)
|
36
|
(31)
|
(28)
|
146
|
19
|
30
|
Nexium
|
332
|
(18)
|
(13)
|
144
|
(38)
|
(36)
|
33
|
4
|
15
|
(17)
|
(11)
|
140
|
17
|
28
|
Others
|
93
|
(22)
|
(22)
|
60
|
(4)
|
(4)
|
6
|
(71)
|
21
|
(39)
|
(37)
|
6
|
n/m
|
n/m
|
Total Product Sales
|
10,980
|
51
|
56
|
3,306
|
28
|
30
|
3,986
|
76
|
2,092
|
36
|
46
|
1,596
|
83
|
97
|
|
|
Q1 2022
|
Q1 2021
|
|
|
$m
|
$m
|
Lynparza: regulatory
milestones
|
|
175
|
-
|
Enhertu: share of gross
profits
|
|
75
|
38
|
Royalty income
|
|
73
|
18
|
Tralokinumab: sales milestones
|
|
70
|
-
|
Other Ongoing Collaboration Revenue
|
|
17
|
7
|
Total
|
|
410
|
63
|
|
|
Q1 2022
|
Q1 2021
|
|
|
$m
|
$m
|
Brazikumab licence termination funding
|
|
35
|
26
|
Divestment of Viela Bio, Inc. shareholding
|
|
-
|
776
|
Crestor (Europe ex-UK and
Spain)
|
|
-
|
309
|
Other
|
|
62
|
69
|
Total
|
|
97
|
1,180
|
|
|
|
|
Registered office
|
Registrar and transfer office
|
Swedish Central Securities Depository
|
US depositary
Deutsche Bank Trust Company Americas
|
1 Francis Crick Avenue
Cambridge Biomedical Campus
Cambridge
CB2 0AA
|
Equiniti Limited
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA
|
Euroclear Sweden AB PO Box 191
SE-101 23 Stockholm
|
American Stock Transfer
6201 15th Avenue
Brooklyn
NY 11219
|
United Kingdom
|
United Kingdom
|
Sweden
|
United States
|
|
|
|
|
+44 (20 3749 5000
|
0800 389 1580
|
+46 (8 402 9000
|
+1 (88697 8018
|
|
+44 (121 415 7033
|
|
+1 (71921 8137
|
|
|
|
db@astfinancial.com
|
|
AstraZeneca
PLC
|
|
By: /s/
Adrian Kemp
|
|
Name:
Adrian Kemp
|
|
Title:
Company Secretary
|