Earnings Per Share $0.54; Targets for the Year Maintained
LONDON, April 30 /PRNewswire-FirstCall/ -- AstraZeneca PLC (NYSE: AZN)
today issued the following:
Financial Highlights (before Exceptional Items)
Group 1st Quarter 1st Quarter Constant
(Continuing 2003 2002 Reported Currency
operations) $m $m % %
Sales 4,735 4,346 +9 +4
Operating Profit 1,272 1,297 -2 -3
Profit before Tax 1,293 1,318 -2 -3
Earnings per Share
Group $0.54 $0.55 -2 -3
Group (Statutory FRS3) $0.54 $0.55
All narrative in this section refers to growth rates at constant exchange
rates (CER)
-- Sales increased by 4 percent. Excluding Losec(TM)/Prilosec(TM)
sales grew by 23 percent, benefiting from wholesaler stocking in
the US.
-- Operating profits were down by 3 percent, affected by $141 million
lower other operating income compared with the first quarter 2002,
which included proceeds from the sale of Sular marketing rights.
-- Costs in R&D and SG&A combined increased by 4 percent in CER terms.
-- Earnings per Share of $0.54 were down 3 percent.
-- Nexium(TM) sales were $835 million. Share of total prescriptions
in the US market increased to 21.4 percent in March.
-- Sales of Crestor(TM) in the quarter were $3 million, following
successful launches in Canada in mid-February, and in the
Netherlands and the UK in March.
-- Iressa(TM) sales were $19 million in the first quarter. Iressa(TM)
submission in Europe for the treatment of non-small cell lung
cancer was announced on 11 February. Target date for completion of
US FDA regulatory review is 5 May.
-- Symbicort(TM) sales were $122 million in the first quarter.
Successful completion of Mutual Recognition Procedure in Europe for
use in chronic obstructive pulmonary disease (COPD) was announced
10 February.
Tom McKillop, Chief Executive, said: "The transformation of our product
portfolio is proceeding as anticipated, with strong demand for the growth and
recently launched products balancing the expected declines due to patent
expiries. With this sales performance and the planned programme of product
launches we are well placed to achieve the financial targets for the year we
communicated in January."
Media Enquiries: Steve Brown/
Emily Denney (London) (020) 7304 5033/5034
Staffan Ternby (Sodertalje) (8) 553 26107
Rachel Bloom (Wilmington) (302) 886 7858
Analyst/
Investor Enquiries: Mina Blair-Robinson (London) (020) 7304 5084
Jonathan Hunt (London) (020) 7304 5087
Staffan Ternby (Sodertalje) (8) 553 26107
Ed Seage (Wilmington) (302) 886 4065
Jorgen Winroth (New York) (212) 581 8720
Business Highlights - All narrative in this section refers to growth rates
at constant exchange rates (CER) unless otherwise indicated.
Sales in the first quarter increased by 4 percent. Operating profit
decreased by 3 percent. Earnings per Share were down by 3 percent to $0.54.
The weaker US dollar increased the reported sales growth rate by 5 percent.
Nearly all the currency benefit on reported sales was offset by the adverse
currency impact on operating costs, with the overall result that reported
operating profits and earnings per share benefited by just 1 percent from
currency movements.
Other operating income for the first quarter 2003 ($15 million) was
significantly lower than the first quarter 2002 ($156 million) which included
proceeds from the sale of Sular marketing rights to First Horizon. Costs in
R&D and SG&A combined increased by 4 percent in CER terms.
Sales growth in the first quarter was 4 percent in the US and 5 percent in
the rest of the world. As expected, sales in the US reflected significant
generic competition for Prilosec(TM), Zestril(TM), and Nolvadex(TM). In
aggregate, sales of these three products were $669 million lower than the
first quarter 2002. This was more than offset by a continued strong
performance in the rest of the portfolio, with sales up 55 percent. The
company estimates that underlying demand for these products grew by around 35
percent. The balance of the growth is attributable to favourable effects from
wholesaler stock movements in the US market in this quarter compared to the
first quarter 2002, which also benefited from stock building. At the end of
the first quarter 2003, the company estimates that trade inventories are some
$400 million higher than normal (and some $200 million higher than at the end
of the first quarter 2002). This inventory should be worked off in the normal
course of business over the next two quarters, with no adverse effect on our
estimates for revenue for the year as a whole. The products chiefly affected
include Nexium(TM), Seroquel(TM), Toprol-XL(TM) and Atacand(TM).
Nexium(TM) sales were up 136 percent on strong prescription demand and
wholesaler stock building in the US. Prilosec(TM) sales in the US were $287
million in the first quarter, a decline of 60 percent, broadly in line with
the trend in prescriptions. Generic omeprazole market share has been holding
steady at around 60 percent of total prescriptions for the omeprazole molecule
in recent weeks.
Sales of Cardiovascular products were down just 3 percent, despite the
significant decline in Zestril(TM), as good prescription growth in the US
continues for Toprol-XL(TM) (up 31 percent) and Atacand(TM) (up 19 percent).
The first sales for Crestor(TM) were recorded in the quarter ($3 million),
with the mid-February launch in Canada followed by the first European launches
in the Netherlands and in the UK.
Oncology product sales grew by 6 percent, as growth in Casodex(TM),
Arimidex(TM), Faslodex(TM) and Iressa(TM) more than offset generic erosion on
Nolvadex(TM). Iressa(TM) sales of $19 million in the quarter were affected by
label changes and some market adjustment following the rapid up-take in the
fourth quarter 2002. The regulatory submission in the EU for Iressa(TM) in
the treatment of locally advanced or metastatic non-small cell lung cancer was
announced 11 February. The target date for completion of the review by the US
FDA is May 5. Faslodex(TM) sales were $22 million in the quarter, and the
file for second-line treatment of advanced breast cancer was submitted in the
EU in February.
Other product development highlights in the quarter included regulatory
submissions in the US and Europe for the use of Seroquel(TM) for the treatment
of manic episodes associated with bipolar disorder, and for the use of
Nexium(TM) for the treatment of upper GI symptoms in patients taking non-
steroidal anti-inflammatory drugs (NSAIDs).
Future Prospects - All narrative in this section refers to growth rates at
constant exchange rates (CER) unless otherwise indicated.
After adjusting for wholesaler buying patterns, the underlying sales
revenue for the quarter was in line with the company's expectations, with
expected declines due to patent expiries balanced by strong demand in the
growth and recently launched products. Therefore the company has not changed
its targets for the full year, and continues to anticipate earnings per share
in the range of $1.50 to $1.65 per share.
Disclosure Notice: The preceding forward-looking statements relating to
expectations for earnings and business prospects for AstraZeneca PLC are
subject to risks and uncertainties, which may cause results to differ
materially from those set forth. These include, but are not limited to: the
rate of growth in sales of generic omeprazole in the US, the successful
registration and launch of new products (in particular Crestor(TM),
Iressa(TM), and Exanta(TM)), continued growth of currently marketed products,
the growth in costs and expenses, interest rate movements, exchange rate
fluctuations, and the effective tax rate. For further details on these and
other risks and uncertainties, see AstraZeneca PLC's Securities and Exchange
Commission filings, including the 2002 annual report on Form 20-F.
Sales
All narrative in this section refers to growth rates at constant exchange
rates (CER).
Gastrointestinal
First Quarter CER %
2003 2002
Losec(TM)/Prilosec(TM) 692 1,192 -45
Nexium(TM) 835 347 +136
Total 1,545 1,552 -3
-- Nexium(TM) sales in the US increased by 135 percent to $669
million. Total prescriptions in the first quarter were up 68
percent over last year, with wholesaler stock building responsible
for much of the balance. Market share of total PPI prescriptions
in the US continues to grow, reaching 21.4 percent in March. Total
prescriptions for the PPI class were up 14 percent versus the first
quarter 2002.
-- Sales of Nexium(TM) in markets outside the US were up 142 percent
to $166 million.
-- Regulatory submissions for the use of Nexium(TM) in the treatment
of upper GI symptoms in patients taking NSAIDs were announced on 1
April.
-- Sales of Losec(TM)/Prilosec(TM) declined by 45 percent, with
Prilosec(TM) sales in the US down by 60 percent as a result of
competition from generic omeprazole. Prilosec(TM) share of total
omeprazole prescriptions was around 40 percent in March, consistent
with restricted supply of generic product.
-- Sales of Losec(TM) outside the US declined by 22 percent as a
result of generic competition as well as in response to the
continued strong growth of Nexium(TM). Sales of Losec(TM) in
Japan, however, grew by 62 percent.
Cardiovascular
First Quarter CER %
2003 2002
Zestril(TM) 108 277 -64
Atacand(TM) 206 149 +31
Seloken(TM) / Toprol-XL(TM) 368 231 +56
Plendil(TM) 110 106 -1
Total 969 946 -3
-- Sales of Zestril(TM) in the US were $20 million in the quarter
(down 89 percent) as generic lisinopril now accounts for over 90
percent of dispensed prescriptions.
-- Sales of Atacand(TM) grew by 44 percent in the US, whereas total
prescriptions in the US were up 19 percent versus the first quarter
2002. Since US sales in the first quarter 2002 also benefited from
wholesaler stocking, this indicates a high level of trade
inventories at the end of March. Sales of Atacand(TM) outside the
US increased by 20 percent.
-- Toprol-XL(TM) prescriptions in the US increased by 31 percent
compared to the first quarter 2002, well above the 8 percent growth
for the beta blocker class as a whole. Reported sales growth of 76
percent on a strong first quarter last year also means wholesaler
stocks are well above normal levels.
-- Crestor(TM) was successfully launched in Canada on 19 February,
followed by the Netherlands and the UK in March. Sales were $3
million. The company is encouraged by the early launch experience
in these markets. In Canada, for example, after 8 weeks Crestor
has achieved an estimated new prescription market share of 23.5
percent within the private payer statin market which represents
about 40 percent of the total Canadian market, the remainder
requiring government sector formulary acceptances. The company
strongly advises caution when interpreting such early prescription
tracking data and, in particular, counsels against extrapolating to
other markets.
Respiratory
First Quarter CER %
2003 2002
Pulmicort(TM) 251 227 +6
Accolate(TM) 31 32 -3
Rhinocort(TM) 90 63 +40
Oxis(TM) 31 31 -10
Symbicort(TM) 122 54 +102
Total 563 442 +20
-- Symbicort(TM) continues to gain market share in the fast-growing
fixed combination segment of the asthma market, with market share
in Europe having grown to around 24 percent. Successful completion
of the Mutual Recognition Procedure in Europe for the use of
Symbicort(TM) in COPD was announced 10 February.
-- Prescriptions for Pulmicort(TM) Respules(TM) in the US were up 34
percent versus the first quarter last year, whilst reported sales
increased by 56 percent.
-- In the US, Rhinocort Aqua(TM) share of prescriptions for intranasal
steroids grew to 14 percent in March, fuelling a growth in total
prescriptions of 37 percent. Reported sales increased by 113
percent, indicating above normal levels of stocking.
-- Accolate(TM) sales were up 5 percent in the US, whilst
prescriptions were down by 19 percent. Wholesaler inventories were
high at the beginning of the first quarter of 2003 and remain so as
a result of further speculative purchases.
Oncology
First Quarter CER %
2003 2002
Casodex(TM) 189 123 +44
Arimidex(TM) 93 65 +35
Nolvadex(TM) 61 140 -57
Iressa(TM) 19 - n/m
Faslodex(TM) 22 - n/m
Zoladex(TM) 193 187 -2
Total 581 520 +6
-- Expanded usage of Casodex(TM) 150 mg tablets in the treatment of
early prostate cancer has contributed to the 26 percent increase in
sales for markets outside the US, to $129 million in the quarter.
The 100 percent increase in US sales is compared to the destocking
which occurred in the first quarter of 2002; stock levels at the
end of the first quarter this year are close to normal. Underlying
demand for Casodex(TM) in the US is broadly unchanged.
-- Expansion of labelled claims into the adjuvant treatment for early
breast cancer is driving sales growth for Arimidex(TM) throughout
the world. Sales outside the US increased by 41 percent. In the
US, total prescriptions were up 64 percent over last year's first
quarter. Reported sales growth of 27 percent reflects inventory
movements.
-- Market exclusivity for Nolvadex(TM) in the US expired in February,
followed by the launch of several generic products. US sales
declined by 71 percent.
-- Sales of Faslodex(TM) in the US reached $22 million in the quarter,
and reflect steady progression in utilisation since launch last
May.
-- Sales of Iressa(TM) were $19 million. Sales built quite rapidly in
the fourth quarter 2002 following launch in Japan, and some
reduction from this level was likely as pent-up demand was cleared.
However, lower sales this quarter also reflect the labelling
revisions implemented in response to post-marketing reports of
interstitial lung disease (ILD).
-- The regulatory submission in Europe for the use of Iressa(TM) for
the treatment of locally advanced or metastatic non-small cell lung
cancer was made in February. The target date for the US FDA to
complete its review of Iressa(TM) is 5 May, according to the
Prescription Drug User Fee Act (PDUFA) guidelines.
CNS
First Quarter CER %
2003 2002
Seroquel(TM) 444 329 +33
Zomig(TM) 108 92 +13
Total 560 428 +28
-- In markets outside the US Seroquel(TM) sales grew by 79 percent,
including strong growth in Japan.
-- In the US, total prescriptions for Seroquel(TM) were up 36 percent
versus the first quarter 2002. Market share for Seroquel(TM) has
grown despite the launch of new entrants, reaching 18.4 percent in
March. Sales for Seroquel(TM) in the US increased by 26 percent.
Wholesaler stock building has occurred this year and in the first
quarter 2002; trade inventories are above normal at quarter's end.
-- Regulatory files were submitted in the EU and the US for the use of
Seroquel(TM) in the treatment of mania associated with bipolar
disorder.
-- Sales of Zomig(TM) were up by 17 percent in the US and by 6 percent
in the rest of the world. US sales exceeded underlying
prescription demand both in this quarter and the first quarter last
year.
Pain, Infection and Other Pharma
First Quarter CER %
2003 2002
Merrem(TM) 74 67 +10
Diprivan(TM) 136 111 +19
Local anaesthetics 101 96 -1
Total 377 342 +5
-- Sales of Diprivan(TM) in the US were 53 percent higher than the
first quarter last year, as a result of a combination of market
growth and significant wholesaler stock building in anticipation of
price changes.
Geographic Sales
First Quarter CER %
2003 2002
US 2,470 2,383 +4
Europe 1,555 1,387 -2
Japan 243 172 +32
RoW 467 404 +19
-- Apart from wholesaler stock movements, underlying demand in the US
featured strong growth in Nexium(TM), Toprol-XL(TM), and
Seroquel(TM), which partially offset sales lost to generic
competition.
-- Sales in Europe were off 2 percent. Good volume growth in France
and Italy was offset by price reductions in Italy and generic
competition in the UK. Nexium(TM), Symbicort(TM), Seroquel(TM),
Casodex(TM) and Atacand(TM) were the key growth products.
-- The Oncology product range (up 35 percent) as well as Seroquel(TM)
and Losec(TM) paced the sales increase in Japan.
Operating Review
Sales grew by 4 percent. Operating profit declined by 3 percent. The
operating margin decline of 2.9 percentage points is almost entirely explained
by the absence of disposal gains, which in the first quarter of 2002 included
a gain on the sale of Sular marketing rights for the US. Without this gain,
operating margin for the first quarter of 2002 would have been 26.8 percent of
sales, and operating profit would have increased by 8 percent this quarter.
The other elements of operating margin showed a net improvement of 0.4
percentage points, as small increases in R&D and SG&A as a percent of sales
(0.5 and 0.3 points respectively) were more than offset by improvements in
gross margin. Gross margin increased by 1.2 points to 76 percent of sales
through mix benefits as well as lower proportional payments to Merck.
The weaker US dollar increased sales by 5 percent and operating profits by
1 percent, accounting for around 0.7 percentage points of the margin decline.
Currency for the year is expected to have a broadly neutral effect on profits.
In recent years the first quarter results have been marked by speculative
wholesaler purchases ahead of anticipated price increases. At the end of the
first quarter 2003 it was estimated that wholesaler inventories were some $400
million above normal, compared to $200 million at the end of the first quarter
2002. The products principally affected in 2003 were Nexium(TM),
Seroquel(TM), Toprol-XL(TM) and Atacand(TM). It is expected that these excess
inventories will unwind over the next two quarters with no overall impact on
sales for the year.
Interest
Interest income was $21 million in the quarter, with higher overall cash
balances compensating for lower yield on investments.
Taxation
The effective tax rate for the first quarter 2003 was 27.5 percent
compared with 27.0 percent for the same period in 2002.
Cash Flow
Cash generated from operating activities after exceptional items amounted
to $1.2 billion for the first quarter, compared with $1.9 billion for the same
quarter 2002. Much of this variance arises from a timing difference in
payments made to Merck (the first quarter 2002 benefited from the absence of
such payment) and receivables arising from the strong first quarter sales. In
the first quarter 2003 capital expenditures were $0.3 billion, taxation paid
was $0.2 billion, and share repurchases were $0.1 billion, resulting in an
increase in net cash funds of just under $0.5 billion. Net cash funds at the
end of the quarter amounted to $4.3 billion ($3.8 billion in fourth quarter
2002).
Share Repurchase Programme
During the quarter, 4.04 million ordinary shares were re-purchased
(nominal value $0.25 each) for cancellation at a total cost of $129 million.
Since the commencement of the programme, 70.6 million shares have been
repurchased for cancellation at a total cost of $2,968 million. The total
number of shares in issue (as at 31 March 2003) is 1,715 million.
Approximately $1.0 billion remains available under the previously announced
share repurchase programme.
Upcoming Milestones and Key Events
24 July Announcement of second quarter and half year results
2 October Annual Business Review
23 October Announcement of third quarter and nine months results
Consolidated Profit & Loss Account
For the quarter ended 31 March 2003 2002
$m $m
Sales 4,735 4,346
Cost of sales (1,135) (1,094)
Distribution costs (35) (30)
Research and development (782) (697)
Selling, general and administrative expenses (1,526) (1,384)
Other operating income 15 156
Operating profit 1,272 1,297
Net interest and dividend income 21 21
Profit on ordinary activities before taxation 1,293 1,318
Taxation (356) (356)
Profit on ordinary activities after taxation 937 962
Attributable to minorities (5) (4)
Net profit for the period 932 958
Earnings per Ordinary Share before exceptional items $0.54 $0.55
Earnings per Ordinary Share $0.54 $0.55
Diluted earnings per Ordinary Share $0.54 $0.55
Weighted average number of Ordinary
Shares in issue (millions) 1,717 1,745
Diluted average number of Ordinary
Shares in issue (millions) 1,718 1,747
Consolidated Balance Sheet
At 31 March 2003 2002
$m $m
Fixed assets 9,566 8,205
Current assets 12,929 11,754
Total assets 22,495 19,959
Creditors due within one year (8,146) (7,220)
Net current assets 4,783 4,534
Total assets less current liabilities 14,349 12,739
Creditors due after more than one year (363) (788)
Provisions for liabilities and charges (1,832) (1,473)
Net assets 12,154 10,478
Capital and reserves
Shareholders' funds and minority interests 12,154 10,478
Consolidated Cash Flow Statement
For the quarter ended 31 March 2003 2002
$m $m
Cash flow from operating activities
Operating profit 1,272 1,297
Depreciation and amortisation 272 227
(Increase)/decrease in working capital
and other non-cash movements (370) 409
Net cash inflow from operating
activities before exceptional items 1,174 1,933
Outflow related to exceptional items (12) (28)
Net cash inflow from operating activities 1,162 1,905
Returns on investments and servicing of finance (9) (6)
Tax paid (252) (54)
Capital expenditure and financial investment (330) (285)
Net cash inflow before management of
liquid resources and financing 571 1,560
Net purchase of shares (129) (133)
Exchange and other movements 13 (2)
Increase in net cash funds in the period 455 1,425
Net cash funds at beginning of period 3,844 2,867
Net cash funds at end of period 4,299 4,292
Notes to the Interim Financial Statements
1 BASIS OF PREPARATION AND ACCOUNTING POLICIES
The results for the quarter ended 31 March 2003 have been prepared in
accordance with UK generally accepted accounting principles. The
accounting policies applied are those set out in AstraZeneca PLC's
2002 Annual Report and Form 20-F.
These interim financial statements do not constitute statutory
accounts within the meaning of Section 240 of the Companies Act 1985.
Statutory accounts for the year ended 31 December 2002 will be filed
with the Registrar of Companies following the Company's Annual General
Meeting. The auditor's report on those accounts was unqualified and
did not contain any statement under Section 237 of the Companies Act
1985.
As part of AstraZeneca's objective to align with best accounting
practice, cash discounts arising from prompt payments of invoices were
reclassified from cost of sales to sales for the year ended 31
December 2002. Comparatives were reclassified and additional detail
at product and territorial level are available on the AstraZeneca
website. Both sales and cost of sales were reduced by $75m in the
first quarter 2002. Neither profits nor net assets were affected.
2 TERRITORIAL SALES ANALYSIS
% Growth
1st Quarter 1st Quarter
2003 2002 Constant
$m $m Actual Currency
US 2,470 2,383 4 4
Canada 156 129 21 19
North America 2,626 2,512 5 5
France 329 263 25 9
UK 144 178 (19) (27)
Germany 183 164 12 (3)
Italy 208 172 21 5
Sweden 79 64 23 3
Europe others 612 546 12 (2)
Total Europe 1,555 1,387 12 (2)
Japan 243 172 41 32
Rest of World 311 275 13 18
Total 4,735 4,346 9 4
3 PRODUCT SALES ANALYSIS
World US
1st 1st Constant 1st
Quarter Quarter Actual Currency Quarter Actual
2003 2002 Growth Growth 2003 Growth
$m $m % % $m %
Gastrointestinal:
Losec 692 1,192 (42) (45) 287 (60)
Nexium 835 347 141 136 669 135
Others 18 13 38 30 8 100
Total
Gastrointestinal 1,545 1,552 - (3) 964 (5)
Cardiovascular:
Zestril 108 277 (61) (64) 20 (89)
Seloken 368 231 59 56 285 76
Atacand 206 149 38 31 102 44
Plendil 110 106 4 (1) 39 (9)
Tenormin 84 94 (11) (14) 13 (41)
Crestor 3 - n/m n/m - -
Others 90 89 1 (9) 4 (33)
Total
Cardiovascular 969 946 2 (3) 463 (4)
Respiratory:
Pulmicort 251 227 11 6 133 27
Rhinocort 90 63 43 40 68 58
Symbicort 122 54 126 102 - -
Accolate 31 32 (3) (3) 23 5
Oxis 31 31 - (10) - -
Others 38 35 9 - - -
Total Respiratory 563 442 27 20 224 32
Oncology:
Zoladex 193 187 3 (2) 42 (9)
Casodex 189 123 54 44 60 100
Nolvadex 61 140 (56) (57) 31 (71)
Arimidex 93 65 43 35 33 27
Iressa 19 - n/m n/m - -
Faslodex 22 - n/m n/m 22 n/m
Others 4 5 (20) (20) - -
Total Oncology 581 520 12 6 188 (10)
CNS:
Seroquel 444 329 35 33 360 26
Zomig 108 92 17 13 69 17
Others 8 7 14 14 2 -
Total CNS 560 428 31 28 431 24
Pain, Infection and
Other Pharma:
Diprivan 136 111 23 19 81 53
Merrem 74 67 10 10 13 (13)
Local anaesthetics 101 96 5 (1) 20 (9)
Other Pharma
Products 66 68 (3) (13) 17 (6)
Total Pain, Infection
and Other Pharma 377 342 10 5 131 21
Salick Health Care 65 54 20 20 65 20
Astra Tech 44 34 29 8 3 50
Marlow Foods 31 28 11 - 1 -
Total 4,735 4,346 9 4 2,470 4
n/m not meaningful
Shareholder Information
ANNOUNCEMENTS AND MEETINGS
Annual General Meeting 30 April 2003
Announcement of half year results 24 July 2003
Annual Business Review 2 October 2003
Announcement of third quarter and nine month results 23 October 2003
DIVIDENDS
The record date for the second interim dividend payable on 7 April 2003
(in the UK, Sweden and the US) was 21 February 2003. Ordinary Shares traded
ex-dividend on the London and Stockholm Stock Exchanges from 19 February 2003.
ADRs traded ex-dividend on the New York Stock Exchange from the same date.
Future dividends will normally be paid as follows:
First interim Announced end of July and paid in October.
Second interim Announced in January and paid in April.
TRADEMARKS
The following brand names used in this interim report are trade marks of
the AstraZeneca group of companies:
Accolate, Arimidex, Astra Tech, Atacand, Casodex, Crestor, Diprivan,
Exanta, Faslodex, Iressa, Losec, Merrem, Nexium, Nolvadex, Oxis, Plendil,
Prilosec, Pulmicort, Pulmicort Respules, Rhinocort, Rhinocort Aqua,
Seloken, Seroquel, Symbicort, Tenormin, Toprol-XL, Zestril, Zoladex, Zomig
ADDRESSES FOR CORRESPONDENCE
Registrar and Transfer Office
The AstraZeneca Registrar
Lloyds TSB Registrars
The Causeway
Worthing
West Sussex
BN99 6DA
Tel: (0870) 600 3956
Depositary for ADRs
JPMorgan Chase Bank
ADR Service Center
PO Box 43013
Providence, RI 02940-3013
Tel: (781) 575 4328
Registered Office
15 Stanhope Gate
London
W1K 1LN
Tel: (020) 7304 5000
Swedish Securities Register Centre
VPC AB
PO Box 7822
S-103 97 Stockholm
Sweden
Tel: (8) 402 9000
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
In order to utilise the 'Safe Harbor' provisions of the United States
Private Securities Litigation Reform Act of 1995, AstraZeneca is providing the
following cautionary statement. This Interim Report contains forward-looking
statements with respect to the financial condition, results of operations and
businesses of AstraZeneca. By their nature, forward-looking statements and
forecasts involve risk and uncertainty because they relate to events and
depend on circumstances that will occur in the future. There are a number of
factors that could cause actual results and developments to differ materially
from that expressed or implied by these forward-looking statements. These
factors include, among other things, the loss or expiration of patents,
marketing exclusivity or trade marks; exchange rate fluctuations; the risk
that R&D will not yield new products that achieve commercial success; the
impact of competition; price controls and price reductions; taxation risks;
the risk of substantial product liability claims; the impact of any failure by
third parties to supply materials or services; the risk of delay to new
product launches; the difficulties of obtaining and maintaining governmental
approvals for products; and the risk of environmental liabilities.
SOURCE AstraZeneca PLC
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CONTACT:
Media Enquiries: Steve Brown/Emily Denney
(London), (020) 7304 5033/5034, or Staffan Ternby (Sodertalje),
(8) 553 26107, or Rachel Bloom (Wilmington), +1-302-886-7858; or
Analyst/Investor Enquiries: Mina Blair-Robinson (London), (020)
7304 5084, or Jonathan Hunt (London), (020) 7304 5087, or Staffan
Ternby (Sodertalje), (8) 553 26107, or Ed Seage (Wilmington),
+1-302-886-4065, or Jorgen Winroth (New York), +1-212-581-8720,
all of AstraZeneca PLC
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