Company Announcements

AZN: Year-to-Date and Q3 2018 Results

Source: RNS
RNS Number : 7022G
AstraZeneca PLC
08 November 2018
 

AstraZeneca PLC

8 November 2018 07:00 GMT

Year-to-Date and Q3 2018 Results

AstraZeneca Returns to Sales Growth; New Medicines and Emerging Markets Lead the Way

 

Product Sales increased by 4% in the year to date (2% at CER1), supporting full-year guidance. For the quarter, Product Sales increased by 8% (9% at CER), driven by the strong performance of new medicines2 (+85%, +86% at CER) and the sustained strength of Emerging Markets (+12%, +16% at CER). Oncology sales increased by 56% in the quarter (57% at CER); China and US sales increased by 32% and 25%, respectively. The pipeline, designed to deliver sustainable growth and advances in treatment for patients, produced further positive news flow in the period; regular, additional news will continue. The Company is on track to deliver its FY 2018 Product Sales and Core EPS guidance.

 

 

 

YTD 2018

Q3 2018

$m

% change

$m

% change

 

Actual

CER

Actual

CER

Total Revenue

15,673

(6)

(8)

5,340

(14)

(13)

Product Sales

15,281

4

2

5,266

8

9

Externalisation Revenue

392

(81)

(81)

74

(95)

(95)

 

 

 

 

 

 

 

Reported Operating Profit3

2,310

(23)

(20)

851

(26)

(21)

Core Operating Profit4

3,480

(31)

(31)

1,319

(29)

(26)

 

 

 

 

 

 

 

Reported Earnings Per Share (EPS)

$0.88

(34)

(34)

$0.34

(37)

(36)

Core EPS

$1.88

(37)

(37)

$0.71

(37)

(33)

 

Pascal Soriot, Chief Executive Officer, commenting on the results said:

"Today marks an important day for the future of AstraZeneca, with the performance in the quarter and year to date showing what we expect will be the start of a period of sustained growth for years to come. Commercial execution has been exceptional and our new medicines are now firmly established as the drivers of growth, supporting our continued success in Emerging Markets.

 

These new medicines are showing great promise, including Tagrisso, Imfinzi, Lynparza in cancer, Farxiga in diabetes and Fasenra in severe asthma. We're also continuing to replenish our early-stage pipeline as we bring our innovative medicines to patients around the world."

 

Financial Highlights

•     Product Sales increased by 4% in the year to date (2% at CER) to $15,281m; new medicines generated additional sales of $1.8bn at CER

 

•     The Reported Gross Margin declined by two percentage points to 78% in the year to date, partly reflecting the favourable impact of manufacturing variances in the first half of 2017 and the dilutive effect of the Lynparza collaboration with MSD5; the Core Gross Margin declined by two percentage points to 80%

 

•     Productivity gains, simplification and the focus on costs continued, with prioritised investment in new medicines and in China delivering strong returns

o Total Reported Operating Expenses were stable in the year to date (down by 2% at CER) to $11,589m. Total Core Operating Expenses increased by 4% (2% at CER) to $10,253m

o Reported R&D costs declined by 7% in the year to date (8% at CER) to $3,920m; Core R&D costs declined by 4% (6% at CER) to $3,800m, driven by efficiency savings and resource optimisation. Reported SG&A costs increased by 4% in the year to date (1% at CER) to $7,431m; Core SG&A costs increased by 10% (7% at CER) to $6,215m, reflecting support for new medicines and growth in China

 

•     Externalisation Revenue declined by 81% in the year to date to $392m, partly driven by the impact of $997m of income in YTD 2017 as part of the aforementioned collaboration with MSD. Reported Other Operating Income & Expense increased by 55% to $1,525m; Core Other Operating Income & Expense increased by 4% in the year to date (3% at CER) to $1,143m, with the difference between the Reported and Core performances reflecting a legal settlement in the first half of the year. The Company anticipates a significant sum of Externalisation Revenue and Other Operating Income & Expense in the final quarter of the year

 

•     Restructuring costs declined to $271m in the year to date (YTD 2017: $645m); capital expenditure also declined to $728m (YTD 2017: $849m). The Company continues to anticipate declines in restructuring costs and capital expenditure over the full year

 

•     Reported EPS of $0.88 in the year to date represented a decline of 34%. The performance reflected a decline in Total Revenue, the Reported Gross Margin and the increase in Reported SG&A costs. Core EPS declined by 37% to $1.88.

 

Commercial Highlights

•     Oncology: sales growth of 47% in the year to date (44% at CER) to $4,261m, including:

 

-    Tagrisso sales of $1,266m, representing growth of 94% (91% at CER), with increased use in the treatment of 2nd-line EGFR6 T790M-mutated7 NSCLC8 patients and the 2018 approvals in the 1st-line EGFR-mutated (EGFRm) setting as a new standard of care (SoC). Tagrisso sales increased by 104% (105% at CER) to $506m in the quarter

 

-    Lynparza sales of $438m, representing growth of 122% (118% at CER), driven by expanded use in the treatment of ovarian cancer and the approval for use in the treatment of breast cancer

 

-    Imfinzi sales of $371m (YTD 2017: $1m), reflecting ongoing launches for the treatment of unresectable, Stage III NSCLC

 

•     New CVRM9: 14% growth in the year to date (12% at CER) to $2,901m, including:

 

-    Brilinta sales of $945m, representing growth of 21% (18% at CER), due to continued market penetration in acute coronary syndrome and high-risk post-myocardial infarction (HR PMI)

 

-    Farxiga sales of $994m, with growth of 34% (32% at CER), including a sales increase of 51% in Emerging

Markets (57% at CER) to $242m

 

-    Bydureon sales of $446m, an increase of 4% (3% at CER), reflecting an encouraging Bydureon BCise device launch in the US earlier in the year. Sales increased by 19% in the quarter to $152m. Bydureon BCise was also approved in the EU in the quarter

 

•     Respiratory: 5% growth in the year to date (2% at CER) to $3,549m, including:

-    A Symbicort sales decline of 6% (9% at CER) to $1,925m, as competitive class pressures in the US continued unabated. Emerging Markets sales of Symbicort increased by 13% (12% at CER) to $364m

 

-    Pulmicort sales growth of 11% (7% at CER) to $897m. China sales increased by 24% (17% at CER) to $572m

 

-    Fasenra sales of $172m (Q3 2018: $86m), consolidating its leadership position among novel biologic severe-asthma medicines

 

•     Emerging Markets: the Company's largest region by Product Sales, with growth of 13% in the year to date (12% at CER) to $5,124m, including:

 

-    A China sales increase of 33% (27% at CER) to $2,847m. Oncology sales in China increased by 55% in the year to date (48% at CER) to $646m, partly underpinned by the launch of Tagrisso in China in 2017, which was added to the National Reimbursement Drug List (NRDL) with effect from Q1 2019 for the treatment of 2nd-line EGFRm T790M-mutated NSCLC. In the quarter, overall China sales increased by 32% to $954m

 

-    An ex-China sales decline of 4% (2% at CER) to $2,277m, partly impacted by the impact from the loss of Product Sales through externalisation activities. The quarter saw an ex-China sales decline of 6% to $746m; this, however, represented an improved performance at CER (+1%). Asia-Pacific sales increased by 6% in the quarter to $269m and Russia sales increased by 2% (11% at CER) to $56m

 

Pipeline Highlights

The table below highlights significant developments in the late-stage pipeline since the prior results announcement:

 

Regulatory Approvals

-     Lynparza - ovarian cancer (2nd line) (CN)

-     Tagrisso - lung cancer (1st line) (JP)

-     Imfinzi - locally-advanced, unresectable NSCLC (EU)

-     Lumoxiti (moxetumomab pasudotox-tdfk) - hairy cell leukaemia (3rd line) (US)

-     Bydureon BCise autoinjector - type-2 diabetes (EU)

Regulatory Submissions and/or Acceptances

-     Lynparza - ovarian cancer (1st line) (EU, JP, CN)

-     Tagrisso - lung cancer (1st line) (CN)

-     Symbicort - mild asthma (EU)

-     Duaklir - COPD10 (US)

-     Bevespi - COPD (JP, CN)

-     PT010 - COPD (JP, CN)

Major Phase III Data Readouts or Other Major Developments

-     Lynparza - pancreatic cancer: Orphan Drug Designation (US)

-     selumetinib - NF111: orphan designation (EU)

-     Farxiga - type-2 diabetes: CVOT12 primary safety endpoint met; one of two primary efficacy endpoints met

-     Bevespi - COPD: CHMP13 positive opinion (EU)

-     tezepelumab - severe asthma: Breakthrough Therapy Designation (US)

-     anifrolumab - lupus (TULIP 1 trial): primary endpoint not met

 

Guidance

The Company is on track to deliver its FY 2018 guidance. All measures in this section are at CER. Company guidance is on Product Sales and Core EPS only:

 

Product Sales

A low single-digit percentage increase

Core EPS

$3.30 to $3.50

 

Variations in performance between quarters can be expected to continue. The Company is unable to provide guidance and indications on a Reported basis because the Company cannot reliably forecast material elements of the Reported result, including the fair-value adjustments arising on acquisition-related liabilities, intangible-asset impairment charges and legal-settlement provisions. Please refer to the section 'Cautionary Statements Regarding Forward-Looking Statements' at the end of this announcement.

 

Additional Commentary

Outside of guidance, the Company provides indications at CER for FY 2018 vs. the prior year:

•     As part of its long-term growth strategy, the Company remains committed to focusing on appropriate cash-generating and value-accretive externalisation activities that reflect the ongoing productivity of the pipeline. It is also committed to the continued management of its portfolio through divestments and to increasing the focus, over time, on its three main therapy areas

 

•     The sum of Externalisation Revenue and Core Other Operating Income & Expense is anticipated to decline. In the year to date, the Company generated a sum of $1,535m (FY 2017: $4,266m). Additions to this over the remainder of the year are anticipated to include the impact of:

Transactions recently announced - see the Corporate & Business Development section for details. These transactions are subject to customary closing conditions

$400m in potential option payments from the Lynparza collaboration with MSD, which, if MSD chooses to exercise the option, would be recorded in Externalisation Revenue in Q4 2018

A sales-related milestone under the same collaboration of $150m, achieved during October 2018 and to be recorded in Externalisation Revenue in Q4 2018

 

•     Core R&D costs in FY 2018 are now anticipated to decline by a low single-digit percentage. The prior indication was for a stable to low single-digit percentage decline. Productivity savings, simplification and improved development processes are helping to deliver cost reductions. High levels of activity remain unchanged, illustrated by the 63 Phase III projects ongoing as at the end of the quarter (end of Q3 2017: 56)

 

•     Total Core SG&A costs are now expected to increase broadly in line with the rate seen in the year to date, reflecting support for medicine launches, including Imfinzi in Oncology and Fasenra in Respiratory, as well as additional investment in China. The prior indication was for a low to mid single-digit percentage increase. The Company will retain flexibility in its investment approach, watching closely its impact on Product Sales

 

•     AstraZeneca anticipates declines in restructuring costs and capital expenditure

 

•     A Core Tax Rate of 16-20% (FY 2017: 14%)

 

Currency Impact

Based only on average exchange rates in the nine months to 30 September 2018 and the Company's published currency sensitivities, the Company anticipates a favourable low single-digit percentage impact from currency movements on Product Sales and Core EPS in FY 2018. Details on currency sensitivities are contained within the Operating and Financial Review.

 

Sustainability

AstraZeneca's sustainability ambition is founded on making science accessible and operating in a way that recognises the interconnection between business growth, the needs of society and the limitations of the planet. The Company's sustainability ambition is reinforced by its purpose and values, which are intrinsic to its business model and ensures that the delivery of its strategy broadens access to medicines, minimises the environmental footprint of medicines and processes and ensures that all business activities are underpinned by the highest levels of ethics and transparency. A full update on the Company's sustainability progress is shown in the Sustainability Update section of this announcement.

 

Notes

The following notes refer to pages 1-4:

 

1.   Constant exchange rates. These are not generally-accepted accounting principles (GAAP) financial measures because they remove the effects of currency movements from Reported results.

 

2.   Lynparza, Tagrisso, Imfinzi, Calquence, Lumoxiti, Brilinta, Farxiga, Lokelma, Bevespi and Fasenra. These new medicines are pillars in the three main therapy areas and are important platforms for future growth.

 

3.   Reported financial measures are the financial results presented in accordance with International Financial Reporting Standards.

 

4.   Core financial measures. These are non-GAAP financial measures because, unlike Reported performance, they cannot be derived directly from the information in the Group Financial Statements. See the Operating and Financial Review for a definition of Core financial measures and a reconciliation of Core to Reported financial measures.

 

5.   Merck & Co., Inc., Kenilworth, NJ, US, known as MSD outside the US and Canada.

 

6.   Epidermal growth factor receptor.

 

7.   Substitution of threonine (T) with methionine (M) at position 790 of exon 20 mutation.

 

8.   Non-small cell lung cancer.

 

9.   New Cardiovascular, Renal and Metabolism, incorporating Brilinta, Diabetes medicines and Lokelma.

 

10.  Chronic obstructive pulmonary disease.

 

11.  Neurofibromatosis type 1.

 

12.  Cardiovascular outcomes trial.

 

13.  Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA).

 

The performance shown in this announcement covers the nine-month period to 30 September 2018 (the year to date or YTD 2018) and the three-month period to 30 September 2018 (the quarter, the third quarter or Q3 2018) compared to the nine-month period to 30 September 2017 (YTD 2017) and the three-month period to 30 September 2017 (Q3 2017) respectively, unless stated otherwise. All commentary in the Operating and Financial Review relates to the year to date, unless stated otherwise.

 

Pipeline - Forthcoming Major News Flow

Innovation is critical to addressing unmet patient needs and is at the heart of the Company's growth strategy. The focus on research and development is designed to yield strong results from the pipeline.

 

7   Product Sales Analysis - YTD 2018

The table below provides an analysis of year-on-year Product Sales, with Actual and CER growth rates reflecting year-on-year growth.

 

 

World

 

Emerging Markets

 

US

 

Europe

 

Established ROW

 

YTD 2018

$m

 

Actual

%

CER

%

 

YTD 2018

$m

 

Actual

%

CER
%

 

YTD 2018

$m

 

Actual

%

 

YTD 2018

$m

 

Actual

%

CER

%

 

YTD 2018

$m

 

Actual

%

CER

%

 Oncology

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Tagrisso

1,266

 

94

91

 

266

 

213

206

 

580

 

n/m

 

222

 

79

68

 

198

 

20

18

 Lynparza

438

 

n/m

n/m

 

33

 

n/m

n/m

 

233

 

n/m

 

137

 

46

37

 

35

 

n/m

n/m

 Iressa

406

 

2

(2)

 

226

 

13

10

 

20

 

(26)

 

85

 

6

(3)

 

75

 

(18)

(20)

 Imfinzi

371

 

n/m

n/m

 

4

 

n/m

n/m

 

348

 

n/m

 

9

 

n/m

n/m

 

10

 

n/m

n/m

 Calquence

38

 

n/m

n/m

 

-

 

-

-

 

38

 

n/m

 

-

 

-

-

 

-

 

-

-

 Legacy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Faslodex

759

 

8

6

 

111

 

26

28

 

394

 

7

 

171

 

(12)

(19)

 

83

 

57

53

 Zoladex

570

 

4

2

 

313

 

20

20

 

6

 

(63)

 

99

 

(5)

(12)

 

152

 

(10)

(11)

 Arimidex

166

 

4

1

 

106

 

25

22

 

-

 

n/m

 

23

 

(12)

(15)

 

37

 

(16)

(18)

 Casodex

155

 

(4)

(7)

 

90

 

15

10

 

1

 

0

 

15

 

(12)

(12)

 

49

 

(25)

(26)

 Others

92

 

8

5

 

24

 

14

6

 

-

 

-

 

5

 

25

25

 

63 

 

5

3

 Total Oncology

4,261

 

47

44

 

1,173

 

42

39

 

1,620

 

107

 

766

 

19

11

 

702

 

8

6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 CVRM

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Brilinta

945

 

21

18

 

232

 

33

31

 

411

 

16

 

257

 

21

12

 

45

 

22

22

 Farxiga

994

 

34

32

 

242

 

51

57

 

420

 

24

 

231

 

35

25

 

101

 

40

38

 Bydureon

446

 

4

3

 

9

 

80

80

 

360

 

5

 

62

 

(5)

(12)

 

15

 

7

7

 Onglyza

395

 

(8)

(10)

 

121

 

30

29

 

162

 

(25)

 

68

 

(13)

(18)

 

44

 

2

-

 Byetta

94

 

(27)

(27)

 

6

 

(33)

(44)

 

55

 

(32)

 

22

 

(15)

(15)

 

11

 

(8)

(8)

 Symlin

24

 

(31)

(31)

 

-

 

-

-

 

24

 

(31)

 

-

 

-

-

 

-

 

-

-

 Legacy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Crestor

1,080

 

(39)

(41)

 

631

 

9

7

 

128

 

(48)

 

159

 

(69)

(71)

 

162

 

(63)

(63)

 Seloken/Toprol-XL

552

 

5

4

 

493

 

13

12

 

33

 

(3)

 

16

 

(67)

(67)

 

10

 

25

25

 Atacand

202

 

(11)

(11)

 

114

 

(16)

(13)

 

11

 

(35)

 

62

 

(2)

(8)

 

15

 

25

25

 Others

231

 

(11)

(14)

 

156

 

(1)

(4)

 

(2)

 

n/m

 

58

 

(16)

(19)

 

19

 

(39)

(39)

 Total CVRM

4,963

 

(7)

(8)

 

2,004

 

15

14

 

1,602

 

(4)

 

935

 

(25)

(30)

 

422

 

(36)

(37)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Respiratory

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Symbicort

1,925

 

(6)

(9)

 

364

 

13

12

 

655

 

(19)

 

588

 

-

(8)

 

318

 

(3)

(5)

 Pulmicort

897

 

11

7

 

688

 

20

16

 

81

 

(24)

 

68

 

3

(5)

 

60

 

(2)

(3)

 Fasenra

172

 

n/m

n/m

 

-

 

-

-

 

129

 

n/m

 

17

 

n/m

n/m

 

26

 

n/m

n/m

 Daliresp/Daxas

135

 

(7)

(8)

 

4

 

-

(25)

 

110

 

(11)

 

20

 

25

19

 

1

 

-

-

 Tudorza/Eklira

91

 

(16)

(19)

 

1

 

n/m

-

 

28

 

(40)

 

54

 

(2)

(7)

 

8

 

33

33

 Duaklir

73

 

30

20

 

1

 

n/m

-

 

-

 

-

 

70

 

30

20

 

2

 

-

-

 Bevespi

23

 

n/m

n/m

 

-

 

-

-

 

23

 

n/m

 

-

 

-

-

 

-

 

-

-

 Others

233

 

17

12

 

89

 

31

24

 

4

 

(30)

 

105

 

7

3

 

35

 

9

6

 Total Respiratory

3,549

 

5

2

 

1,147

 

19

15

 

1,030

 

(6)

 

922

 

5

(2)

 

450

 

5

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Nexium

1,312

 

(14)

(16)

 

524

 

2

-

 

249

 

(44)

 

179

 

2

(5)

 

360

 

(8)

(10)

 Synagis

414

 

(9)

(9)

 

-

 

-

-

 

133

 

(27)

 

281

 

4

4

 

-

 

-

-

 Losec/Prilosec

212

 

5

-

 

131

 

26

20

 

5

 

(44)

 

51

 

(11)

(18)

 

25

 

(22)

(22)

 Seroquel XR

169

 

(25)

(26)

 

45

 

(4)

(6)

 

67

 

(35)

 

48

 

(21)

(26)

 

9

 

(31)

(31)

 Movantik/Moventig

84

 

(9)

(9)

 

-

 

-

-

 

81

 

(11)

 

2

 

n/m

n/m

 

1

 

n/m

n/m

 FluMist/Fluenz

35

 

75

75

 

-

 

-

-

 

15

 

n/m

 

20

 

11

11

 

-

 

n/m

n/m

 Others

282

 

(49)

(50)

 

100

 

(68)

(63)

 

37

 

61

 

82

 

(23)

(42)

 

63 

 

(41)

(45)

 Total Other

2,508

 

(18)

(20)

 

800

 

(18)

(18)

 

587

 

(31)

 

663

 

(4)

(10)

 

458

 

(16)

(18)

 Total Product Sales

15,281

 

4

2

 

5,124

 

13

12

 

4,839 

 

10 

 

3,286

 

(5)

(11)

 

2,032

 

(11)

(13)

                                                   

 

8   Product Sales Analysis - Q3 2018

The table below provides an analysis of year-on-year Product Sales, with Actual and CER growth rates reflecting year-on-year growth.

 

 

World

 

Emerging Markets

 

US

 

Europe

 

Established ROW

 

Q3 2018

$m

 

Actual

%

CER

%

 

Q3 2018

$m

 

Actual

%

CER
%

 

Q3 2018

$m

 

Actual

%

 

Q3 2018

$m

 

Actual

%

CER

%

 

Q3 2018

$m

 

Actual

%

CER

%

 Oncology

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Tagrisso

506 

 

n/m 

n/m 

 

107 

 

n/m 

n/m 

 

239 

 

n/m 

 

83 

 

73 

75 

 

77 

 

33 

33 

 Lynparza

169 

 

n/m 

n/m 

 

15 

 

n/m 

n/m 

 

84 

 

n/m 

 

50 

 

39 

39 

 

20 

 

n/m 

n/m 

 Iressa

131 

 

(4)

(4)

 

78 

 

10 

13 

 

 

(40)

 

24 

 

(8)

(12)

 

23 

 

(23)

(23)

 Imfinzi

187 

 

n/m 

n/m 

 

 

n/m 

n/m 

 

170 

 

n/m 

 

 

n/m 

n/m 

 

10 

 

n/m 

n/m 

 Calquence

18 

 

n/m 

n/m 

 

 

 

18 

 

n/m 

 

 

 

 

 Legacy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Faslodex

258 

 

 

40 

 

18 

26 

 

135 

 

 

53 

 

(13)

(13)

 

30 

 

58 

58 

 Zoladex

194 

 

 

111 

 

21 

25 

 

 

50 

 

31 

 

(16)

(16)

 

49 

 

(9)

(7)

 Arimidex

55 

 

 

35 

 

25 

29 

 

 

n/m 

 

 

(11)

(11)

 

12 

 

(20)

(20)

 Casodex

51 

 

 

31 

 

41 

45 

 

 

 

 

(33)

(33)

 

15 

 

(32)

(32)

 Others

28 

 

(3)

(6)

 

 

(9)

 

 

 

 

n/m 

n/m 

 

18 

 

(10)

(10)

 Total Oncology

1,597 

 

56 

57 

 

426 

 

39 

43 

 

656 

 

138 

 

261 

 

17 

17 

 

254 

 

15 

16 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 CVRM

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Brilinta

336 

 

18 

20 

 

84 

 

56 

61 

 

152 

 

 

85 

 

 

15 

 

25 

33 

 Farxiga

355 

 

25 

27 

 

85 

 

42 

53 

 

154 

 

16 

 

79 

 

20 

20 

 

37 

 

42 

42 

 Bydureon

152 

 

19 

19 

 

 

n/m 

n/m 

 

126 

 

26 

 

19 

 

(17)

(17)

 

 

 Onglyza

140 

 

10 

12 

 

40 

 

33 

39 

 

64 

 

10 

 

21 

 

(19)

(19)

 

15 

 

15 

15 

 Byetta

34 

 

(13)

(10)

 

 

(50)

(25)

 

23 

 

 

 

(25)

(25)

 

 

(25)

(25)

 Symlin

 

(20)

(20)

 

 

 

 

(20)

 

 

 

 

 Legacy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Crestor

353 

 

(39)

(38)

 

207 

 

10 

13 

 

38 

 

(59)

 

48 

 

(68)

(69)

 

60 

 

(59)

(59)

 Seloken/Toprol-XL

179 

 

12 

17 

 

165 

 

11 

17 

 

 

75 

 

 

(33)

(33)

 

 

50 

50 

 Atacand

65 

 

(19)

(15)

 

38 

 

(24)

(18)

 

 

(80)

 

21 

 

 

 

25 

25 

 Others

73 

 

(9)

(6)

 

47 

 

 

 

n/m 

 

20 

 

 

 

(45)

(45)

 Total CVRM

1,695 

 

(4)

(3)

 

670 

 

15 

21 

 

573 

 

 

303 

 

(24)

(25)

 

149 

 

(33)

(33)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Respiratory

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Symbicort

619 

 

(7)

(7)

 

123 

 

13 

17 

 

216 

 

(16)

 

177 

 

(7)

(8)

 

103 

 

(7)

(5)

 Pulmicort

264 

 

10 

 

206 

 

18 

19 

 

22 

 

(24)

 

18 

 

 

18 

 

(10)

(5)

 Fasenra

86 

 

n/m 

n/m 

 

 

 

62 

 

n/m 

 

 

n/m 

n/m 

 

15 

 

n/m 

n/m 

 Daliresp/Daxas

52 

 

(2)

(2)

 

 

n/m 

n/m 

 

43 

 

(4)

 

 

(14)

(14)

 

 

 Tudorza/Eklira

18 

 

(51)

(51)

 

 

n/m 

 

(1) 

 

n/m 

 

16 

 

(6)

 

 

 Duaklir

23 

 

10 

 

 

n/m 

 

 

 

23 

 

15 

15 

 

 

n/m 

n/m 

 Bevespi

10 

 

n/m 

n/m 

 

 

 

10 

 

n/m 

 

 

 

 

 Others

70 

 

 

28 

 

33 

38 

 

 

n/m 

 

30 

 

(19)

(19)

 

 

(10)

(10)

 Total Respiratory

1,142 

 

 

361 

 

18 

20 

 

355 

 

 

279 

 

(4)

(4)

 

147 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Nexium

422 

 

(10)

(9)

 

181 

 

 

62 

 

(40)

 

57 

 

 

122 

 

(12)

(11)

 Synagis

164 

 

 

 

 

 

(47) 

 

156 

 

13 

13 

 

 

 Losec/Prilosec

67 

 

 

43 

 

26 

29 

 

 

 

15 

 

(21)

(26)

 

 

(33)

(33)

 Seroquel XR

40 

 

(35)

(35)

 

 

(67)

(67)

 

18 

 

(31)

 

15 

 

(17)

(17)

 

 

(33)

(33)

 Movantik/Moventig

32 

 

 

(1)

 

n/m 

n/m 

 

30 

 

 

 

n/m 

n/m

 

 

n/m 

n/m 

 FluMist/Fluenz

35 

 

75 

75 

 

 

 

15 

 

n/m 

 

20 

 

11 

11 

 

 

n/m 

n/m 

 Others

72 

 

(62)

(62)

 

15 

 

(85)

(83)

 

19 

 

19 

 

24 

 

(13)

 

14 

 

(70)

(68)

 Total Other

832 

 

(16)

(15)

 

243 

 

(25)

(22)

 

153 

 

(19)

 

289 

 

 

147 

 

(28)

(27)

 Total Product Sales

5,266 

 

 

1,700 

 

12 

16 

 

1,737 

 

25 

 

1,132 

 

(5)

(5)

 

697 

 

(12)

(11)

                                                   

 

9   Sequential Quarterly Product Sales - 2018

The table below provides an analysis of sequential quarterly Product Sales, with Actual and CER growth rates reflecting quarter-on-quarter growth.

 

 

Q1 2018

$m

 

Actual

%

CER

%

 

Q2 2018

$m

 

Actual

%

CER

%

 

Q3 2018

$m

 

Actual

%

CER

%

 

Q4 2018

$m

 

Actual

%

CER

%

 Oncology

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Tagrisso

338 

 

11 

10 

 

422 

 

25 

25 

 

506 

 

20 

23 

 

 

 

 

 

 Iressa

132 

 

(1)

 

143 

 

 

131 

 

(8)

(5)

 

 

 

 

 

 Lynparza

119 

 

19 

18 

 

150 

 

26 

26 

 

169 

 

13 

15 

 

 

 

 

 

 Imfinzi

62 

 

n/m 

n/m 

 

122 

 

98 

98 

 

187 

 

53 

52 

 

 

 

 

 

 Calquence

 

n/m 

n/m 

 

12 

 

51 

50 

 

18 

 

50 

50 

 

 

 

 

 

 Legacy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Faslodex

254 

 

 

247 

 

(3)

(2)

 

258 

 

 

 

 

 

 

 Zoladex

184 

 

(2)

(4)

 

192 

 

 

194 

 

 

 

 

 

 

 Arimidex

54 

 

(5)

(7)

 

57 

 

 

55 

 

(4)

 

 

 

 

 

 Casodex

52 

 

(4)

(6)

 

52 

 

(2)

 

51 

 

(2)

 

 

 

 

 

 Others

27 

 

(7)

(20)

 

37 

 

37 

50 

 

28 

 

(24)

(22)

 

 

 

 

 

 Total Oncology

1,230 

 

10 

 

1,434 

 

17 

17 

 

1,597

 

11 

14 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 CVRM

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Brilinta

293 

 

(2)

(4)

 

316 

 

 

336 

 

 

 

 

 

 

 Farxiga

299 

 

(10)

(11)

 

340 

 

14 

15 

 

355 

 

 

 

 

 

 

 Onglyza

129 

 

(28)

(29)

 

126 

 

(2)

(2)

 

140 

 

11 

14 

 

 

 

 

 

 Bydureon

139 

 

(5)

(5)

 

155 

 

12 

11 

 

152 

 

(2)

(1)

 

 

 

 

 

 Byetta

31 

 

(35)

(38)

 

29 

 

(7)

(3)

 

34 

 

17 

17 

 

 

 

 

 

 Symlin

 

(31)

(31)

 

 

(22)

(22)

 

 

14 

14 

 

 

 

 

 

 Legacy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Crestor

389 

 

(35)

(36)

 

338 

 

(13)

(12)

 

353 

 

 

 

 

 

 

 Seloken/Toprol-XL

200 

 

19 

18 

 

173 

 

(14)

(13)

 

179 

 

10 

 

 

 

 

 

 Atacand

71 

 

(3)

(3)

 

66 

 

(8)

(8)

 

65 

 

(2)

 

 

 

 

 

 Others

85 

 

 

73 

 

(13)

(11)

 

73 

 

(3)

 

 

 

 

 

 Total CVRM

1,645 

 

(15)

(17)

 

1,623 

 

(1)

 

1,695 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Respiratory

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Symbicort

634 

 

(16)

(17)

 

672 

 

 

619 

 

(8)

(5)

 

 

 

 

 

 Pulmicort

346 

 

(7)

(8)

 

287 

 

(17)

(17)

 

264 

 

(8)

(4)

 

 

 

 

 

 Daliresp/Daxas

38 

 

(28)

(30)

 

45 

 

19 

22 

 

52 

 

16 

18 

 

 

 

 

 

 Tudorza/Eklira

34 

 

(19)

(21)

 

39 

 

15 

15 

 

18 

 

(54)

(59)

 

 

 

 

 

 Duaklir

28 

 

22 

17 

 

22 

 

(22)

(19)

 

23 

 

 

 

 

 

 

 Fasenra

21 

 

n/m 

n/m 

 

65 

 

n/m 

n/m 

 

86 

 

32 

34 

 

 

 

 

 

 Bevespi

 

(38)

(38)

 

 

61 

60 

 

10 

 

25 

25 

 

 

 

 

 

 Others

75 

 

(12)

(20)

 

88 

 

17 

16 

 

70 

 

(20)

(13)

 

 

 

 

 

 Total Respiratory

1,181 

 

(11)

(13)

 

1,226 

 

 

1,142 

 

(7)

(4)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Nexium

448 

 

 

442 

 

(1)

(1)

 

422 

 

(5)

97 

 

 

 

 

 

 Synagis

224 

 

(4)

(4)

 

26 

 

(89)

(88)

 

164 

 

n/m

n/m

 

 

 

 

 

 Losec/Prilosec

69 

 

(4)

 

76 

 

10 

11 

 

67 

 

(12)

85 

 

 

 

 

 

 Seroquel XR

53 

 

(51)

(51)

 

76 

 

44 

42 

 

40 

 

(47)

(8)

 

 

 

 

 

 Movantik/Moventig

28 

 

(7)

(7)

 

24 

 

(14)

(14)

 

32 

 

33 

167 

 

 

 

 

 

 FluMist/Fluenz

-

 

n/m

n/m

 

-

 

n/m

n/m

 

35 

 

n/m

n/m

 

 

 

 

 

 Others

107 

 

(36)

(37)

 

103 

 

(4)

(5)

 

72 

 

(29)

n/m

 

 

 

 

 

 Total Other

929 

 

(15)

(16)

 

747 

 

(20)

(20)

 

832 

 

12 

15 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Total Product Sales

4,985 

 

(9)

(11)

 

5,030 

 

 

5,266 

 

 

 

 

 

 

10 Sequential Quarterly Product Sales - 2017

The table below provides an analysis of sequential quarterly Product Sales, with Actual and CER growth rates reflecting quarter-on-quarter growth.

 

 

Q1 2017

$m

 

Actual

%

CER

%

 

Q2 2017

$m

 

Actual

%

CER
%

 

Q3 2017

$m

 

Actual

%

CER

%

 

Q4 2017

$m

 

Actual

%

CER

%

 Oncology

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Tagrisso

171 

 

16 

19 

 

232 

 

36 

34 

 

248 

 

 

304 

 

23 

22 

 Iressa

124 

 

 

137 

 

10 

 

137 

 

(1)

 

130 

 

(5)

(6)

 Lynparza

57 

 

(8)

(6)

 

59 

 

 

81 

 

37 

33 

 

100 

 

23 

22 

 Imfinzi

 

 

 

n/m 

n/m 

 

 

 

18 

 

n/m 

n/m 

 Calquence

 

 

 

 

 

 

 

n/m 

n/m 

 Legacy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Faslodex

214 

 

(4)

(3)

 

248 

 

16 

15 

 

241 

 

(3)

(5)

 

238 

 

(1)

(1)

 Zoladex

185 

 

(21)

(12)

 

178 

 

(4)

(5)

 

185 

 

 

187 

 

 Casodex

56 

 

(7)

(2)

 

54 

 

(4)

(3)

 

51 

 

(6)

(9)

 

54 

 

 Arimidex

52 

 

(9)

(7)

 

54 

 

 

54 

 

(2)

 

57 

 

 Others

26 

 

(10)

(3)

 

30 

 

15 

 

29 

 

(3)

(3)

 

29 

 

 Total Oncology

885 

 

(5)

 

993 

 

12 

11 

 

1,026 

 

 

1,120 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 CVRM

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Brilinta

224 

 

(5)

(4)

 

272 

 

21 

20 

 

284 

 

 

299 

 

 Farxiga

207 

 

(13)

(13)

 

250 

 

21 

20 

 

285 

 

14 

11 

 

332 

 

16 

16 

 Onglyza

154 

 

 

150 

 

(3)

(3)

 

127 

 

(15)

(17)

 

180 

 

42 

42 

 Bydureon

153 

 

 

146 

 

(5)

(5)

 

128 

 

(12)

(14)

 

147 

 

15 

15 

 Byetta

46 

 

(16)

(16)

 

43 

 

(7)

(7)

 

39 

 

(9)

(9)

 

48 

 

23 

23 

 Symlin

14 

 

 

11 

 

(21)

(21)

 

10 

 

(9)

(9)

 

13 

 

30 

30 

 Qtern

 

 

 

 

 

 

 

n/m 

n/m 

 Legacy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Crestor

631 

 

 

560 

 

(11)

(12)

 

580 

 

 

594 

 

 Seloken/Toprol-XL

186 

 

 

181 

 

(3)

(4)

 

160 

 

(12)

(14)

 

168 

 

 Atacand

75 

 

(7)

(6)

 

72 

 

(4)

(5)

 

80 

 

11 

 

73 

 

(9)

(6)

 Others

89 

 

12 

 

90 

 

(3)

 

80 

 

(11)

(12)

 

80 

 

(4)

 Total CVRM

1,779 

 

(2)

 

1,775 

 

(1)

 

1,773 

 

(2)

 

1,939 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Respiratory

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Symbicort

677 

 

(9)

(7)

 

706 

 

 

668 

 

(5)

(7)

 

752 

 

13 

12 

 Pulmicort

337 

 

17 

19 

 

226 

 

(33)

(33)

 

242 

 

 

371 

 

53 

51 

 Daliresp/Daxas

44 

 

10 

 

48 

 

 

53 

 

10 

 

53 

 

(2)

 Tudorza/Eklira

37 

 

 

34 

 

(8)

(8)

 

37 

 

 

42 

 

14 

14 

 Duaklir

19 

 

 

16 

 

(16)

(15)

 

21 

 

31 

18 

 

23 

 

10 

10 

 Bevespi

 

(67)

(50)

 

 

n/m 

n/m 

 

 

33 

33 

 

 

100 

100 

 Others

66 

 

(20)

(19)

 

66 

 

(4)

 

67 

 

 

85 

 

27 

30 

 Total Respiratory

1,181 

 

(2)

(1)

 

1,099 

 

(7)

(8)

 

1,092 

 

(1)

(3)

 

1,334 

 

22 

21 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Nexium

461 

 

(6)

(4)

 

595 

 

29 

28 

 

469 

 

(21)

(22)

 

427 

 

(9)

(9)

 Synagis

230 

 

(24)

(24)

 

70 

 

(70)

(70)

 

153 

 

n/m 

n/m 

 

234 

 

53 

53 

 Losec/Prilosec

68 

 

15 

18 

 

68 

 

(3)

 

66 

 

(3)

(6)

 

69 

 

 Seroquel XR

67 

 

(43)

(42)

 

95 

 

42 

38 

 

62 

 

(35)

(36)

 

108 

 

74 

66 

 Movantik/Moventig

30 

 

15 

15 

 

32 

 

 

30 

 

(6)

(6)

 

30 

 

 FluMist/Fluenz

 

n/m

n/m

 

 

 

20 

 

n/m 

n/m 

 

58 

 

190 

175 

 Others

142 

 

(42)

(41)

 

213 

 

50 

51 

 

191 

 

(10)

(11)

 

168 

 

(12)

(12)

 Total Other

998 

 

(24)

(22)

 

1,073 

 

 

991 

 

(8)

(9)

 

1,094 

 

10 

10 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Total Product Sales

4,843 

 

(8)

(6)

 

4,940 

 

 

4,882 

 

(1)

(3)

 

5,487 

 

12 

12 

 

 

11 Sequential Quarterly Product Sales - 2016

The table below provides an analysis of sequential quarterly Product Sales, with Actual and CER growth rates reflecting quarter-on-quarter growth.

 

 

Q1 2016

$m

 

Actual

%

CER

%

 

Q2 2016

$m

 

Actual

%

CER
%

 

Q3 2016

$m

 

Actual

%

CER

%

 

Q4 2016

$m

 

Actual

%

CER

%

 Oncology

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Tagrisso

51 

 

183 

200 

 

92 

 

80 

82 

 

133 

 

45 

44 

 

147 

 

11 

11 

 Iressa

135 

 

 

135 

 

(2)

 

125 

 

(7)

(8)

 

118 

 

(6)

(4)

 Lynparza

44 

 

22 

22 

 

54 

 

23 

23 

 

58 

 

 

62 

 

 Legacy:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Faslodex

190 

 

 

211 

 

11 

 

207 

 

(2)

(2)

 

222 

 

 Zoladex

178 

 

(10)

(8)

 

204 

 

15 

 

199 

 

(2)

(2)

 

235 

 

18 

11 

 Arimidex

57 

 

(5)

(5)

 

62 

 

 

56 

 

(10)

(13)

 

57 

 

 Casodex

62 

 

(2)

(6)

 

63 

 

 

62 

 

(2)

(5)

 

60 

 

(3)

(2)

 Others

21 

 

(22)

(22)

 

27 

 

29 

12 

 

27 

 

 

29 

 

 Total Oncology

738 

 

 

848 

 

15 

12 

 

867 

 

 

930 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 CVRM

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Brilinta

181 

 

 

214 

 

18 

16 

 

208 

 

(3)

(2)

 

236 

 

13 

15 

 Farxiga

165 

 

10 

 

211 

 

28 

26 

 

220 

 

 

239 

 

 Onglyza

211 

 

10 

12 

 

191 

 

(9)

(11)

 

169 

 

(12)

(11)

 

149 

 

(12)

(11)

 Bydureon

135 

 

(13)

(16)

 

156 

 

16 

14 

 

145 

 

(7)

(6)