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AstraZeneca PLC: Third Quarter and Nine Months Results 2007

“Nine Months sales up 7 percent, core EPS up 8 percent. On track to deliver full year earnings target.”

All narrative in this section refers to growth rates at constant exchange rates (CER) For full report, see attachments.

  • Third quarter sales increased 6 percent to $7,150 million. Excluding US sales of Toprol-XL™ from the current and the prior year quarter, sales increased 9 percent. The inclusion of MedImmune increased sales 2 percent. 
  • Operating profit in the third quarter was $2,022 million, down 7 percent. Operating profit was reduced by restructuring costs of $146 million and by $212 million from the inclusion of MedImmune, as a result of the expected seasonal trading loss and the amortisation of intangible assets. 
  • For the nine months, sales were $21,389 million, up 7 percent. Operating profit was down 3 percent, to $6,165 million. Operating profit was reduced by restructuring costs of $604 million and by an operating loss of $315 million from the inclusion of MedImmune.
  • Free cash flow before acquisitions was $3,607 million for the nine months. Cash distributions to shareholders were $5,773 million, including net share repurchases of $3,132 million. 
  • Two additional compounds (PN400 for pain and Crestor™/ABT-335 fixed-dose combination for lipid disorders) progressed to Phase III development, bringing the total number of Phase III projects to ten.
  • Seroquel XR™ was launched in the US in August; first European approval was received on 29 August in the Netherlands. 
  • Combined sales of 5 key products increased 14 percent for the nine months: Nexium™ (up 2 percent); Seroquel™ (up 15 percent); Crestor™ (up 39 percent); Arimidex™ (up 11 percent) and Symbicort™ (up 23 percent).

LONDON, 1 November 2007- David Brennan, Chief Executive Officer, said: “We continue to make progress on our key priorities: the business is on track to meet its earnings target for the full year, the entire organisation is driving for increased productivity and the pipeline has been further strengthened with two projects added to Phase III development during the quarter.”

Media Enquiries: Steve Brown/Edel McCaffrey (London) (020) 7304 5033/5034

Staffan Ternby (Södertälje) (8) 553 26107

Kirsten Evraire (Wilmington) (302) 885 0435

Analyst/Investor Enquiries: Mina Blair/Karl Hard/Jonathan Hunt (London) (020) 7304 5084/5322/5087

Staffan Ternby (Södertälje) (8) 553 26107

Ed Seage/Jörgen Winroth (USA) (302) 886 4065/(212) 579 0506

Posted: November 2007