Notes to the Condensed Consolidated Financial
Statements
Note 1: Basis of preparation and accounting policies
The
Condensed Consolidated Financial Statements for the year ended 31
December 2022 have been prepared in accordance with UK-adopted
International Accounting Standards and with the requirements of the
Companies Act 2006 as applicable to companies reporting under those
standards. The Condensed Consolidated Financial Statements also
comply fully with International Financial Reporting Standards
(IFRSs) as issued by the International Accounting Standards Board
(IASB) and International Accounting Standards as adopted by the
European Union.
The
Condensed Consolidated Financial Statements for the year ended 31
December 2022 include Alexion's results for the period. Alexion's
post-acquisition results for 2021 were consolidated into the
Group's results from 21 July 2021 therefore the respective
comparative periods shown are not entirely comparable with the
current period.
These
Condensed Consolidated Financial Statements comprise the financial
results of AstraZeneca PLC for the years to 31 December 2022 and
2021 together with the Statement of financial position as at 31
December 2022 and 2021. The results for the year to 31 December
2022 have been extracted from the 31 December 2022 audited
Consolidated Financial Statements which have been approved by the
Board of Directors. These have not yet been delivered to the
Registrar of Companies but are expected to be published on 21
February 2023 within the Annual Report and Form 20-F Information
2022.
The
financial information set out above does not constitute the Group's
statutory accounts for the years to 31 December 2022 or 2021 but is
derived from those accounts. The auditors have reported on those
accounts: their reports (i) were unqualified, (ii) did not include
a reference to any matters to which the auditors drew attention by
way of emphasis without qualifying their report and (iii) did not
contain a statement under section 498 (2) or (3) of the Companies
Act 2006 in respect of the accounts for the year to 31 December
2022 or 31 December 2021. Statutory accounts for the year to 31
December 2022 were approved by the Board of Directors for release
on 9 February 2023.
The
Condensed Consolidated Financial Statements have been prepared
applying the accounting policies that were applied in the
preparation of the Group's published consolidated financial
statements for the year ended 31 December 2021.
AstraZeneca
has assessed the impact of the uncertainty presented by the
COVID-19 pandemic and the Russia-Ukraine conflict on the Financial
Statements, specifically considering the impact on key judgements
and significant estimates along with several other areas of
increased risk. No material accounting impacts relating to COVID-19
or the Russia-Ukraine conflict were recognised in the
year.
Going concern
The
Group has considerable financial resources available. As at 31
December 2022, the Group has $11.1bn in financial resources (Cash
and cash equivalent balances of $6.2bn and undrawn committed bank
facilities of $4.9bn available until April 2026 with only $5.5bn of
borrowings due within one year). All facilities contain no
financial covenants and were undrawn at 31 December 2022.
On 2 February 2023, the Group entered
into an additional $2.0bn of two-year committed bank
facilities.
The
Group's revenues are largely derived from sales of medicines
covered by patents. which provide a relatively high level of
resilience and predictability to cash inflows, although government
price interventions in response to budgetary constraints are
expected to continue to adversely affect revenues in some of our
significant markets. The Group, however, anticipates new revenue
streams from both recently launched medicines and those in
development, and the Group has a wide diversity of customers and
suppliers across different geographic areas.
Consequently,
the Directors believe that, overall, the Group is well placed to
manage its business risks successfully. Accordingly, they continue
to adopt the going concern basis in preparing the Condensed
Consolidated Financial Statements.
Legal proceedings
The
information contained in Note 6 updates the disclosures concerning
legal proceedings and contingent liabilities in the Group's
Annual
Report and Form 20-F Information 2021.
Note 2: Intangible assets
In
accordance with IAS 36 'Impairment of Assets', reviews for triggers
of impairment or impairment reversals at an individual asset or
cash generating unit level were conducted, and impairment tests
carried out where triggers were identified. As a result, total net
impairment charges of $224m have been recorded against intangible
assets during the year ended 31 December 2022 (FY 2021: $2,085m net
charge). Net impairment charges in respect of medicines in
development and launched medicines were $95m (FY 2021: $1,464m) and
$146m (FY 2021: $603m charge) respectively.
Note 3: Net Debt
The
table below provides an analysis of Net Debt and a reconciliation
of Net Cash Flow to the movement in Net Debt. The Group monitors
Net Debt as part of its capital-management policy as described in
Note 28 of the Annual Report and Form
20-F Information 2021. Net Debt is a non-GAAP financial
measure.
Table 23: Net Debt
|
|
|
At 1 Jan 2022
|
Cash flow
|
Acquisitions
|
Non-cash & other
|
Exchange movements
|
At 31 Dec 2022
|
|
|
|
$m
|
$m
|
$m
|
$m
|
$m
|
$m
|
|
Non-current
instalments of loans
|
|
(28,134)
|
-
|
(2)
|
4,957
|
214
|
(22,965)
|
|
Non-current
instalments of leases
|
|
(754)
|
-
|
(3)
|
(2)
|
34
|
(725)
|
|
Total long-term debt
|
|
(28,888)
|
-
|
(5)
|
4,955
|
248
|
(23,690)
|
|
Current
instalments of loans
|
|
(1,273)
|
1,271
|
(3)
|
(4,959)
|
-
|
(4,964)
|
|
Current
instalments of leases
|
|
(233)
|
253
|
(1)
|
(260)
|
13
|
(228)
|
|
Bank
collateral received
|
|
(93)
|
4
|
-
|
-
|
-
|
(89)
|
|
Other
short-term borrowings excluding overdrafts
|
|
(3)
|
(78)
|
-
|
-
|
3
|
(78)
|
|
Overdrafts
|
|
(291)
|
85
|
-
|
-
|
23
|
(183)
|
|
Total current debt
|
|
(1,893)
|
1,535
|
(4)
|
(5,219)
|
39
|
(5,542)
|
|
Gross borrowings
|
|
(30,781)
|
1,535
|
(9)
|
(264)
|
287
|
(29,232)
|
|
Net
derivative financial instruments
|
|
61
|
73
|
-
|
(230)
|
-
|
(96)
|
|
Net borrowings
|
|
(30,720)
|
1,608
|
(9)
|
(494)
|
287
|
(29,328)
|
|
Cash
and cash equivalents
|
|
6,329
|
(72)
|
12
|
-
|
(103)
|
6,166
|
|
Other
investments - current
|
|
69
|
168
|
8
|
-
|
(6)
|
239
|
|
Cash and investments
|
|
6,398
|
96
|
20
|
-
|
(109)
|
6,405
|
|
Net Debt
|
|
(24,322)
|
1,704
|
11
|
(494)
|
178
|
(22,923)
|
Non-cash
movements in the period include fair value adjustments under IFRS 9
Financial Instruments.
The
Group has agreements with some bank counterparties whereby the
parties agree to post cash collateral on financial derivatives, for
the benefit of the other, equivalent to the market valuation of the
derivative positions above a predetermined threshold. The carrying
value of such cash collateral held by the Group at 31 December 2022
was $89m (31 December 2021: $93m) and the carrying value of such
cash collateral posted by the Group at 31 December 2022 was $162m
(31 December 2021: $47m). Cash collateral pledged to counterparties
is recognised as a financial asset and is included in Other
investments - current as at 31 December 2022. In prior years, cash
collateral pledged to counterparties was included in Cash and cash
equivalents.
The
equivalent GAAP measure to Net Debt is 'liabilities arising from
financing activities', which excludes the amounts for cash and
overdrafts, other investments and non-financing derivatives shown
above and includes the Acerta Pharma share purchase liability of
$1,646m (31 December 2021: $2,458m), $867m of which is shown in
current other payables and $779m is shown in non-current other
payables.
Net
Debt decreased by $1,399m in the year to $22,923m. Details of the
committed undrawn bank facilities are disclosed within the going
concern section of Note 1.
During
the year ended 31 December 2022, Standard and Poor's upgraded the
Company's solicited credit ratings to long term: A; and short term:
A-1. There were no changes to Moody's solicited credit ratings
(long term: A3; short term: P-2).
Note 4: Financial Instruments
As
detailed in the Group's most recent annual financial statements,
the principal financial instruments consist of derivative financial
instruments, other investments, trade and other receivables, cash
and cash equivalents, trade and other payables, lease liabilities
and interest-bearing loans and borrowings.
The
Group has certain equity investments that are categorised as Level
3 in the fair value hierarchy that are held at $186m at 31 December
2022 (31 December 2021: $104m) and for which fair value gains of
$50m (FY 2021: $nil) have been recognised in the year ended 31
December 2022. In the absence of specific market data, these
unlisted investments are held at fair value based on the cost of
investment and adjusting as necessary for impairments and
revaluations on new funding rounds, which are seen to approximate
the fair value. All other fair value gains and/or losses that are
presented in Net losses on equity investments measured at fair
value through other comprehensive income in the Condensed
consolidated statement of comprehensive income for the year ended
31 December 2022 are Level 1 fair value measurements, valued based
on quoted prices in active markets.
Financial
instruments measured at fair value include $1,079m of other
investments, $4,486m held in money-market funds, $294m of loans
designated at fair value through profit or loss and ($96m) of
derivatives as at 31 December 2022. With the exception of
derivatives being Level 2 fair valued, certain equity investments
as described above and an equity warrant of $19m categorised as
Level 3, the aforementioned balances are Level 1 fair valued.
Financial instruments measured at amortised cost include $64m of
fixed deposits and $162m of cash collateral pledged to
counterparties. The total fair value of interest-bearing loans and
borrowings at 31 December 2022, which have a carrying value of
$29,232m in the Condensed consolidated statement of financial
position, was $27,898m.
Table 24: Financial instruments - contingent
consideration
|
|
|
Diabetes alliance
|
Other
|
Total
|
Total
|
|
|
|
$m
|
$m
|
$m
|
$m
|
|
At 1 January
|
|
2,544
|
321
|
2,865
|
3,323
|
|
Settlements
|
|
(763)
|
(9)
|
(772)
|
(643)
|
|
Disposals
|
|
-
|
(121)
|
(121)
|
-
|
|
Revaluations
|
|
182
|
(100)
|
82
|
14
|
|
Reclass
to other payables
|
|
-
|
-
|
-
|
(55)
|
|
Discount
unwind
|
|
161
|
7
|
168
|
226
|
|
At 31 December
|
|
2,124
|
98
|
2,222
|
2,865
|
Contingent
consideration arising from business combinations is fair valued
using decision-tree analysis, with key inputs including the
probability of success, consideration of potential delays and the
expected levels of future revenues.
The
contingent consideration balance relating to BMS's share of the
global diabetes alliance of $2,124m (31 December 2021:
$2,544m) would increase/decrease by $212m with an increase/decrease
in sales of 10%, as compared with the current
estimates.
Note 5: Pensions and other post-retirement benefit
obligations
The net
pensions and other post-retirement benefit obligations position, as
recorded under IAS 19 Employee Benefits, at 31 December 2022 was a
liability of $1,078m (31 December 2021: $2,454m liability). Pension
schemes in a net surplus position at 31 December 2022 totalled $90m
and are recorded within Other receivables in non-current assets.
Pension schemes in a net deficit position at 31 December 2022
totalled $1,168m (31 December 2021: $2,454m) and are recorded
within Retirement benefit obligations in non-current
liabilities.
The
decrease in the net liability of $1,376m is driven by actuarial
gains of $1,118m that have been reflected within the Condensed
consolidated statement of comprehensive income.
Changes
in actuarial assumptions, primarily movements in discount rates,
led to an actuarial gain on scheme obligations in the year of
$3,585m (gains in UK, Sweden, US and RoW liabilities of $2,243m,
$806m, $268m and $268m respectively), which reflected increases in
corporate bond yields. These movements were partially offset by
actuarial losses on the pension fund asset values in the year of
$2,467m (losses in UK, Sweden, US and ROW assets of $1,964m, $153m,
$295m and $55m respectively).
Note 6: Legal proceedings and contingent liabilities
AstraZeneca
is involved in various legal proceedings considered typical to its
business, including litigation and investigations, including
Government investigations, relating to product liability,
commercial disputes, infringement of intellectual property (IP)
rights, the validity of certain patents, anti-trust law and sales
and marketing practices. The matters discussed below constitute the
more significant developments since publication of the disclosures
concerning legal proceedings in the Company's Annual Report and
Form 20-F Information 2021, H1 2022 and Q3 2022 results (the
Disclosures). Unless noted otherwise below or in the Disclosures,
no provisions have been established in respect of the claims
discussed below.
As
discussed in the Disclosures, the majority of claims involve highly
complex issues. Often these issues are subject to substantial
uncertainties and, therefore, the probability of a loss, if any,
being sustained and/or an estimate of the amount of any loss is
difficult to ascertain.
Unless
specifically identified below that a provision has been taken,
AstraZeneca considers each of the claims to represent a contingent
liability and discloses information with respect to the nature and
facts of the cases in accordance with IAS 37.
There
is one matter concerning legal proceedings in the Disclosures,
which is considered probable that an outflow will be required, but
for which we are unable to make an estimate of the possible loss or
range of possible losses at this stage.
In
cases that have been settled or adjudicated, or where quantifiable
fines and penalties have been assessed and which are not subject to
appeal, or where a loss is probable and we are able to make a
reasonable estimate of the loss, AstraZeneca records the loss
absorbed or makes a provision for its best estimate of the expected
loss. The position could change over time and the estimates that
the Company made, and upon which the Company have relied in
calculating these provisions are inherently imprecise. There can,
therefore, be no assurance that any losses that result from the
outcome of any legal proceedings will not exceed the amount of the
provisions that have been booked in the accounts. The major factors
causing this uncertainty are described more fully in the
Disclosures and herein.
AstraZeneca
has full confidence in, and will vigorously defend and enforce, its
IP.
Matters disclosed in respect of the fourth quarter of 2022 and to 9
February 2023
Patent litigation
Calquence
US patent proceedings
As
previously disclosed, in February 2022, in response to Paragraph IV
notices from multiple ANDA filers, AstraZeneca filed patent
infringement lawsuits in the US District Court for the District of
Delaware. In its complaint, AstraZeneca alleges that a generic
version of Calquence, if
approved and marketed, would infringe patents listed in the US FDA
Orange Book with reference to Calquence that are owned or licensed by
AstraZeneca. Trial has been scheduled for March 2025.
In
February 2023, Sandoz Inc. filed a petition for inter partes review with the US Patent
and Trademark Office (USPTO) of certain Calquence patent claims in US Patent
No. 10,272,083 (the '083 patent)). AstraZeneca has asserted claims
for infringement of the '083 patent against Sandoz and other
defendants in the US ANDA litigation. AstraZeneca is considering
its response to Sandoz's petition before the
USPTO.
Farxiga
US patent proceedings
As
previously disclosed, in 2018, in response to Paragraph IV notices,
AstraZeneca initiated abbreviated new drug application (ANDA)
litigation against Zydus Pharmaceuticals (USA) Inc. (Zydus) in the
US District Court for the District of Delaware (the District
Court). In May 2021, trial against Zydus proceeded and in October
2021, the District Court issued a decision finding the asserted
claims of AstraZeneca's patent as valid and infringed by Zydus's
ANDA product. In August 2022, Zydus appealed the District Court's
decision. In November 2022, Zydus's appeal was dismissed.
Additional ANDA challenges are pending.
Imjudo
US patent proceedings
In
January 2023, Bristol-Myers Squibb Co. and E.R. Squibb & Sons,
LLC filed a lawsuit in US District Court for the District of
Delaware against AstraZeneca alleging that AstraZeneca's marketing
of Imjudo infringes two of
their patents.
Lokelma
US patent proceedings
As
previously disclosed, in August 2022, in response to Paragraph IV
notices, AstraZeneca initiated ANDA litigation against multiple
generic filers in the US District Court for the District of
Delaware. A trial has been scheduled for March 2025.
Symbicort
US patent proceedings
As
previously disclosed, AstraZeneca is involved in two ongoing ANDA
patent litigations with Mylan Pharmaceuticals Inc. (Mylan) and
Kindeva Drug Delivery L.P. (Kindeva) brought in the US District
Court for the Northern District of West Virginia (the District
Court). In one of those matters, in November 2022, the District
Court determined that the asserted patent was invalid. AstraZeneca
appealed that decision to the United States Court of Appeals for
the Federal Circuit (the Federal Circuit). With respect to the
other matter, following a stipulation of infringement and validity
by Mylan and Kindeva that was subject to certain appeal issues, in
December 2022, the District Court issued a Final Judgment in favour
of AstraZeneca. In December 2022, Mylan and Kindeva appealed the
Final Judgment to the Federal Circuit. Both appeals are scheduled
to be heard in March 2023.
Tagrisso
Patent proceedings outside the US
As
previously disclosed, in Russia in October 2021, AstraZeneca filed
a lawsuit in the Arbitration Court of the Moscow Region (the Court)
against Axelpharm, LLC to prevent it from obtaining authorisation
to market a generic version of Tagrisso prior to the expiration of
AstraZeneca's patents covering Tagrisso. The lawsuit also names the
Ministry of Health of the Russian Federation as a third party. In
March 2022, the Court dismissed the lawsuit. In June 2022, the
dismissal was affirmed on appeal. In January 2023, the dismissal
was affirmed on further appeal. AstraZeneca is considering its
option.
Lynparza
US patent proceedings
In
December 2022, AstraZeneca received a Paragraph IV notice letter
from an ANDA filer relating to patents listed in the FDA Orange
Book with reference to Lynparza. AstraZeneca is reviewing the
notice letter.
Product liability litigation
Byetta/Bydureon
US proceedings
As
previously disclosed, Amylin Pharmaceuticals, LLC (a wholly owned
subsidiary of AstraZeneca) and AstraZeneca are among multiple
defendants in various lawsuits filed in federal and state courts
involving claims of physical injury from treatment with
Byetta and/or Bydureon. The lawsuits allege several
types of injuries including pancreatic cancer and thyroid cancer. A
multidistrict litigation was established in the US District Court
for the Southern District of California (the District Court) in
regard to the alleged pancreatic cancer cases in federal courts.
Further, a coordinated proceeding has been established in Superior
Court in Los Angeles, California (the California Court) for cases
in California state courts. In March and April 2021, the District
Court and the California Court respectively granted Defendants'
summary judgment motions, dismissing all cases alleging pancreatic
cancer with prejudice. All remaining claims in both courts,
including those alleging thyroid cancer, have since been dismissed.
This matter is now concluded.
Nexium and
Losec/Prilosec
US proceedings
As
previously disclosed, AstraZeneca is defending various lawsuits
brought in US federal and state courts involving multiple
plaintiffs claiming that they have been diagnosed with various
injuries following treatment with proton pump inhibitors (PPIs),
including Nexium and
Prilosec. The vast majority
of these lawsuits relate to allegations of kidney injuries. In
August 2017, the pending federal court cases were consolidated in a
multidistrict litigation (MDL)
proceeding in the US District Court for the District of New Jersey
for pre-trial purposes. A bellwether trial has been scheduled for
June 2023, with subsequent bellwether trials scheduled for July and
September 2023. In addition to the MDL cases, there are cases filed
in several state courts around the US; a case that was previously
set to go to trial in Delaware state court was dismissed in October
2022.
Commercial Litigation
Anti-Terrorism Act Civil Lawsuit
As
previously disclosed, in October 2017, AstraZeneca and certain
other pharmaceutical and/or medical device companies were named as
defendants in a complaint filed in US District Court for the
District of Columbia (the District Court) by US nationals (or their
estates, survivors, or heirs) who were killed or wounded in Iraq
between 2005 and 2013. The plaintiffs allege that the defendants
violated the US Anti-Terrorism Act and various state laws by
selling pharmaceuticals and medical supplies to the Iraqi Ministry
of Health. In July 2020, the District Court granted AstraZeneca's
and the other defendants' motion and dismissed the lawsuit, and the
plaintiffs appealed to the DC Circuit Court of Appeals (the
Appellate Court). In January 2022, a panel of the Appellate Court
reversed the dismissal and remanded the case back to the District
Court. AstraZeneca and the other defendants filed petitions
requesting en banc review
by the entire Appellate Court, which were denied in February
2023.
Employment Litigation (US)
In
December 2022, AstraZeneca was served with a lawsuit filed by seven
former employees in the US District Court for the District of
Delaware asserting age, religion, and disability discrimination
claims related to AstraZeneca's COVID-19 vaccine mandate. These
claims are pled on a single-plaintiff and class action
basis.
Pay Equity Litigation (US)
AstraZeneca
is defending a putative class and collective action matter in the
US District Court for the Northern District of Illinois brought by
three named plaintiffs, who are former AstraZeneca pharmaceutical
sales representatives. The case involves claims under the federal
and Illinois Equal Pay Acts, with the plaintiffs alleging they were
paid less than male employees who performed substantially similar
and/or equal work. The plaintiffs seek various damages on behalf of
themselves and the putative class and/or collective, including
without limitation backpay, liquidated damages, compensatory and
punitive damages, attorneys' fees, and interest. In January 2023,
the District Court granted AstraZeneca's motion to dismiss
plaintiffs' complaint.
Government investigations/proceedings
Brazilian Operations Investigation (Brazil)
In May
2017, Brazilian authorities seized records and data from Alexion's
Brazil offices as part of an investigation being conducted into
Alexion's Brazilian operations. AstraZeneca cooperated with this
enquiry. The prosecutor recommended discontinuance in September
2022 after determining that there was insufficient evidence to
support a legal claim. The judicial authority approved
discontinuance of the investigation, without any further
enforcement action, in November 2022. This matter is now
concluded.
Texas Qui Tam
US proceedings
In
December 2022, AstraZeneca was served with an unsealed civil
lawsuit brought by a qui
tam relator on behalf of the State of Texas in Texas state
court, which alleges that AstraZeneca engaged in unlawful marketing
practices.
US 340B Litigations and Proceedings
US proceedings
As
previously disclosed, in January 2021, AstraZeneca filed a lawsuit
in US District Court for the District of Delaware (the District
Court) alleging that an Advisory Opinion issued by the Department
of Health and Human Services violates the Administrative Procedure
Act. AstraZeneca later amended its complaint to include allegations
challenging letters the US government issued in May 2021 asserting
that AstraZeneca's contract pharmacy policy violates the 340B
statute. In February 2022, the District Court ruled in favour of
AstraZeneca. In January 2023, the Court of Appeals affirmed the
District Court decision.
Note 7: Subsequent events
On 9
January 2023, it was announced that AstraZeneca had entered into a
definitive agreement to acquire CinCor Pharma, Inc., a US-based
clinical-stage biopharmaceutical company, focused on developing
novel treatments for resistant and uncontrolled hypertension as
well as chronic kidney disease. On 23 January 2023, AstraZeneca
initiated a tender offer to acquire all of CinCor's outstanding
shares for a price of $26 per share in cash at closing, plus a
non-tradable contingent value right of $10 per share in cash
payable upon a specified regulatory submission of a baxdrostat
product. Combined, the upfront and maximum potential contingent
value payments represent, if achieved, a transaction value of
approximately $1.8bn. As part of the transaction, AstraZeneca will
acquire the cash and marketable securities on CinCor's balance
sheet, which totalled approximately $522m as of 30 September 2022.
The transaction is expected to close in the first quarter of
2023.
On 16
January 2023, AstraZeneca completed the acquisition of Neogene
Therapeutics Inc. AstraZeneca acquired all outstanding equity of
Neogene for a total consideration of up to $320m, on a cash and
debt free basis. This includes an initial payment of $200m on deal
closing, and a further up to $120m in both contingent
milestones-based and non-contingent consideration.
On 30
January 2023, AstraZeneca completed the sale of its West Chester
site in Ohio, US, to National Resilience, Inc. On completion of the
sale, the Property, plant and equipment assets associated with this
transaction of $150m which were recorded as Assets held for sale as
at 31 December 2022 have been disposed of, with no net impact
recorded in the Consolidated statement of comprehensive
income.
On 2
February 2023, the Group entered into an additional $2.0bn of
two-year committed bank facilities.
Table 25: FY 2022 - Product Sales year-on-year
analysis77
The CER
information in respect of FY 2022 included in the Consolidated
Financial Information has not been audited by
PricewaterhouseCoopers LLP.
|
|
World
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
|
|
$m
|
Act % chg
|
CER % chg
|
$m
|
Act % chg
|
CER % chg
|
$m
|
% chg
|
$m
|
Act % chg
|
CER % chg
|
$m
|
Act % chg
|
CER % chg
|
|
Oncology
|
14,631
|
13
|
19
|
3,537
|
10
|
14
|
6,484
|
23
|
2,726
|
10
|
23
|
1,884
|
(5)
|
10
|
|
Tagrisso
|
5,444
|
9
|
15
|
1,567
|
17
|
22
|
2,007
|
13
|
1,023
|
4
|
17
|
847
|
(7)
|
8
|
|
Imfinzi
|
2,784
|
15
|
21
|
287
|
4
|
7
|
1,552
|
25
|
544
|
12
|
26
|
401
|
(1)
|
15
|
|
Lynparza
|
2,638
|
12
|
18
|
488
|
27
|
31
|
1,226
|
13
|
655
|
6
|
19
|
269
|
4
|
20
|
|
Calquence
|
2,057
|
66
|
69
|
45
|
n/m
|
n/m
|
1,657
|
52
|
286
|
n/m
|
n/m
|
69
|
n/m
|
n/m
|
|
Enhertu
|
79
|
n/m
|
n/m
|
51
|
n/m
|
n/m
|
-
|
-
|
21
|
n/m
|
n/m
|
7
|
n/m
|
n/m
|
|
Orpathys
|
33
|
n/m
|
n/m
|
33
|
n/m
|
n/m
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Zoladex
|
927
|
(2)
|
6
|
657
|
6
|
12
|
15
|
15
|
133
|
(10)
|
1
|
122
|
(28)
|
(15)
|
|
Faslodex
|
334
|
(22)
|
(14)
|
159
|
(4)
|
3
|
17
|
(45)
|
55
|
(52)
|
(46)
|
103
|
(15)
|
1
|
|
Iressa
|
114
|
(38)
|
(34)
|
94
|
(38)
|
(35)
|
9
|
(19)
|
2
|
(52)
|
(41)
|
9
|
(44)
|
(35)
|
|
Arimidex
|
99
|
(29)
|
(24)
|
76
|
(29)
|
(26)
|
-
|
-
|
-
|
(87)
|
(86)
|
23
|
(23)
|
(11)
|
|
Casodex
|
78
|
(45)
|
(40)
|
53
|
(50)
|
(47)
|
-
|
-
|
1
|
(49)
|
(48)
|
24
|
(31)
|
(19)
|
|
Others
|
44
|
(14)
|
(6)
|
27
|
(6)
|
1
|
1
|
59
|
6
|
(4)
|
4
|
10
|
(36)
|
(26)
|
|
BioPharmaceuticals: CVRM*
|
9,188
|
13
|
19
|
4,119
|
9
|
15
|
2,479
|
11
|
1,906
|
25
|
40
|
684
|
10
|
25
|
|
Farxiga
|
4,381
|
46
|
56
|
1,665
|
39
|
47
|
1,071
|
46
|
1,297
|
60
|
81
|
348
|
32
|
49
|
|
Brilinta
|
1,358
|
(8)
|
(4)
|
286
|
(13)
|
(10)
|
744
|
1
|
282
|
(18)
|
(8)
|
46
|
(27)
|
(22)
|
|
Lokelma
|
289
|
65
|
75
|
20
|
n/m
|
n/m
|
170
|
47
|
30
|
n/m
|
n/m
|
69
|
55
|
83
|
|
Roxadustat
|
197
|
13
|
18
|
197
|
13
|
18
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Andexxa*
|
150
|
5
|
14
|
-
|
-
|
-
|
77
|
(32)
|
41
|
41
|
58
|
32
|
n/m
|
n/m
|
|
Crestor
|
1,048
|
(4)
|
2
|
794
|
2
|
9
|
65
|
(19)
|
41
|
(21)
|
(12)
|
148
|
(21)
|
(10)
|
|
Seloken/Toprol-XL
|
862
|
(9)
|
(4)
|
839
|
(10)
|
(4)
|
-
|
n/m
|
14
|
26
|
27
|
9
|
(16)
|
(13)
|
|
Bydureon
|
280
|
(27)
|
(26)
|
3
|
(16)
|
(18)
|
242
|
(24)
|
35
|
(37)
|
(29)
|
-
|
(95)
|
(94)
|
|
Onglyza
|
257
|
(28)
|
(25)
|
121
|
(32)
|
(28)
|
76
|
(13)
|
38
|
(37)
|
(29)
|
22
|
(32)
|
(30)
|
|
Others
|
366
|
(10)
|
(7)
|
194
|
(1)
|
4
|
34
|
(35)
|
128
|
(12)
|
(10)
|
10
|
(32)
|
(24)
|
|
BioPharmaceuticals: R&I
|
5,765
|
(4)
|
-
|
1,443
|
(18)
|
(14)
|
2,655
|
10
|
1,054
|
(15)
|
(5)
|
613
|
(3)
|
7
|
|
Symbicort
|
2,538
|
(7)
|
(2)
|
608
|
-
|
5
|
973
|
(9)
|
582
|
(13)
|
(3)
|
375
|
(2)
|
5
|
|
Fasenra
|
1,396
|
11
|
15
|
43
|
n/m
|
n/m
|
906
|
15
|
305
|
7
|
20
|
142
|
(12)
|
(1)
|
|
Breztri
|
398
|
96
|
n/m
|
92
|
68
|
75
|
239
|
n/m
|
33
|
n/m
|
n/m
|
34
|
32
|
56
|
|
Saphnelo
|
116
|
n/m
|
n/m
|
-
|
-
|
-
|
111
|
n/m
|
2
|
n/m
|
n/m
|
3
|
n/m
|
n/m
|
|
Tezspire
|
4
|
n/m
|
n/m
|
-
|
-
|
-
|
-
|
-
|
2
|
n/m
|
n/m
|
2
|
n/m
|
n/m
|
|
Pulmicort
|
645
|
(33)
|
(31)
|
462
|
(40)
|
(39)
|
65
|
(9)
|
69
|
(6)
|
6
|
49
|
5
|
15
|
|
Daliresp/Daxas
|
189
|
(17)
|
(16)
|
3
|
(28)
|
(24)
|
176
|
(15)
|
9
|
(39)
|
(32)
|
1
|
3
|
7
|
|
Bevespi
|
58
|
7
|
9
|
5
|
31
|
38
|
42
|
7
|
10
|
(7)
|
5
|
1
|
n/m
|
n/m
|
|
Others
|
421
|
(29)
|
(27)
|
230
|
(20)
|
(17)
|
143
|
32
|
42
|
(77)
|
(75)
|
6
|
(53)
|
(46)
|
|
BioPharmaceuticals: V&I
|
4,736
|
2
|
8
|
1,316
|
(43)
|
(41)
|
1,168
|
n/m
|
1,027
|
(33)
|
(24)
|
1,225
|
68
|
89
|
|
Vaxzevria
|
1,798
|
(54)
|
(52)
|
729
|
(67)
|
(67)
|
79
|
24
|
365
|
(65)
|
(61)
|
625
|
8
|
17
|
|
Evusheld
|
2,185
|
n/m
|
n/m
|
413
|
n/m
|
n/m
|
1,067
|
n/m
|
298
|
n/m
|
n/m
|
407
|
n/m
|
n/m
|
|
Synagis
|
578
|
41
|
59
|
173
|
n/m
|
n/m
|
1
|
(94)
|
213
|
5
|
17
|
191
|
28
|
51
|
|
FluMist
|
175
|
(31)
|
(20)
|
1
|
(51)
|
(54)
|
21
|
(21)
|
151
|
(32)
|
(20)
|
2
|
(4)
|
(10)
|
|
Rare Disease*
|
7,053
|
4
|
10
|
431
|
(10)
|
6
|
4,324
|
8
|
1,428
|
(3)
|
9
|
870
|
8
|
24
|
|
Soliris*
|
3,762
|
(11)
|
(5)
|
301
|
(29)
|
(10)
|
2,180
|
(7)
|
805
|
(21)
|
(12)
|
476
|
11
|
24
|
|
Ultomiris*
|
1,965
|
34
|
42
|
38
|
n/m
|
n/m
|
1,136
|
35
|
481
|
49
|
68
|
310
|
6
|
26
|
|
Strensiq*
|
958
|
16
|
18
|
35
|
41
|
31
|
769
|
19
|
78
|
(3)
|
9
|
76
|
(1)
|
16
|
|
Koselugo
|
208
|
93
|
96
|
26
|
n/m
|
n/m
|
162
|
55
|
20
|
n/m
|
n/m
|
-
|
-
|
-
|
|
Kanuma*
|
160
|
16
|
19
|
31
|
73
|
61
|
77
|
12
|
44
|
(3)
|
10
|
8
|
21
|
38
|
|
Other medicines
|
1,625
|
(5)
|
4
|
788
|
(14)
|
(9)
|
144
|
(16)
|
123
|
(28)
|
(24)
|
570
|
28
|
50
|
|
Nexium
|
1,285
|
(3)
|
8
|
568
|
(19)
|
(13)
|
120
|
(6)
|
46
|
(26)
|
(17)
|
551
|
28
|
50
|
|
Others
|
340
|
(10)
|
(7)
|
220
|
4
|
7
|
24
|
(45)
|
77
|
(29)
|
(27)
|
19
|
37
|
54
|
|
Total Product Sales
|
42,998
|
18
|
24
|
11,634
|
(4)
|
1
|
17,254
|
44
|
8,264
|
9
|
22
|
5,846
|
22
|
40
|
Table 26: Q4 2022 - Product Sales year-on-year
analysis78
The Q4
2022 information in respect of the three months ended 31 December
2022 included in the Consolidated Financial Information has not
been audited by PricewaterhouseCoopers LLP.
|
|
World
|
Emerging Markets
|
US
|
Europe
|
Established RoW
|
|
|
$m
|
Act % chg
|
CER % chg
|
$m
|
Act % chg
|
CER % chg
|
$m
|
% chg
|
$m
|
Act % chg
|
CER % chg
|
$m
|
Act % chg
|
CER % chg
|
|
Oncology
|
3,746
|
9
|
18
|
814
|
4
|
14
|
1,789
|
23
|
689
|
4
|
21
|
454
|
(13)
|
7
|
|
Tagrisso
|
1,342
|
2
|
12
|
356
|
10
|
22
|
535
|
10
|
245
|
(5)
|
10
|
206
|
(16)
|
4
|
|
Imfinzi
|
752
|
19
|
27
|
63
|
(4)
|
3
|
450
|
37
|
142
|
3
|
20
|
97
|
(4)
|
18
|
|
Lynparza
|
689
|
10
|
17
|
130
|
27
|
33
|
331
|
13
|
162
|
-
|
16
|
66
|
(7)
|
15
|
|
Calquence
|
588
|
49
|
53
|
17
|
n/m
|
n/m
|
465
|
39
|
86
|
n/m
|
n/m
|
20
|
n/m
|
n/m
|
|
Enhertu
|
28
|
n/m
|
n/m
|
17
|
n/m
|
n/m
|
-
|
-
|
8
|
n/m
|
n/m
|
3
|
n/m
|
n/m
|
|
Orpathys
|
(1)
|
n/m
|
n/m
|
(1)
|
n/m
|
n/m
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Zoladex
|
210
|
(9)
|
4
|
149
|
(3)
|
10
|
4
|
71
|
33
|
(6)
|
10
|
24
|
(42)
|
(25)
|
|
Faslodex
|
74
|
(27)
|
(14)
|
38
|
(14)
|
(2)
|
1
|
(76)
|
11
|
(46)
|
(38)
|
24
|
(23)
|
(3)
|
|
Iressa
|
24
|
(32)
|
(24)
|
19
|
(34)
|
(26)
|
3
|
55
|
-
|
(44)
|
21
|
2
|
(52)
|
(44)
|
|
Arimidex
|
14
|
(57)
|
(50)
|
10
|
(61)
|
(56)
|
-
|
-
|
-
|
-
|
-
|
4
|
(39)
|
(27)
|
|
Casodex
|
16
|
(28)
|
(16)
|
10
|
(27)
|
(16)
|
-
|
-
|
1
|
n/m
|
n/m
|
5
|
(38)
|
(23)
|
|
Others
|
10
|
(29)
|
(18)
|
6
|
(18)
|
(6)
|
-
|
-
|
1
|
(8)
|
(10)
|
3
|
(40)
|
(31)
|
|
BioPharmaceuticals: CVRM
|
2,281
|
12
|
22
|
938
|
8
|
20
|
696
|
15
|
493
|
25
|
44
|
154
|
(11)
|
6
|
|
Farxiga
|
1,177
|
39
|
52
|
441
|
39
|
52
|
323
|
42
|
342
|
52
|
76
|
71
|
(8)
|
9
|
|
Brilinta
|
345
|
(1)
|
4
|
64
|
(11)
|
(6)
|
206
|
16
|
67
|
(19)
|
(6)
|
8
|
(48)
|
(41)
|
|
Lokelma
|
81
|
50
|
63
|
6
|
n/m
|
n/m
|
48
|
40
|
9
|
98
|
n/m
|
18
|
18
|
49
|
|
Roxadustat
|
49
|
65
|
87
|
49
|
66
|
87
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
Andexxa
|
39
|
-
|
14
|
-
|
-
|
-
|
15
|
(51)
|
12
|
37
|
63
|
12
|
n/m
|
n/m
|
|
Crestor
|
224
|
(13)
|
(2)
|
164
|
(8)
|
4
|
15
|
(28)
|
11
|
24
|
42
|
34
|
(33)
|
(18)
|
|
Seloken/Toprol-XL
|
157
|
(23)
|
(12)
|
150
|
(24)
|
(13)
|
-
|
-
|
4
|
n/m
|
n/m
|
3
|
(23)
|
(30)
|
|
Bydureon
|
73
|
(20)
|
(20)
|
-
|
(51)
|
(59)
|
66
|
(16)
|
7
|
(47)
|
(38)
|
-
|
(49)
|
(98)
|
|
Onglyza
|
52
|
(31)
|
(24)
|
22
|
(20)
|
(8)
|
16
|
(38)
|
9
|
(37)
|
(26)
|
5
|
(36)
|
(32)
|
|
Others
|
84
|
(13)
|
(6)
|
42
|
(6)
|
6
|
7
|
(42)
|
32
|
(11)
|
(8)
|
3
|
(13)
|
(3)
|
|
BioPharmaceuticals: R&I
|
1,447
|
(9)
|
(3)
|
341
|
(23)
|
(16)
|
692
|
7
|
259
|
(23)
|
(10)
|
155
|
(5)
|
10
|
|
Symbicort
|
620
|
(9)
|
(2)
|
133
|
(13)
|
(3)
|
255
|
(2)
|
137
|
(20)
|
(7)
|
95
|
(2)
|
11
|
|
Fasenra
|
381
|
7
|
12
|
13
|
n/m
|
n/m
|
257
|
10
|
76
|
2
|
18
|
35
|
(18)
|
(2)
|
|
Breztri
|
116
|
59
|
68
|
21
|
44
|
66
|
75
|
59
|
11
|
n/m
|
n/m
|
9
|
8
|
34
|
|
Saphnelo
|
48
|
n/m
|
n/m
|
-
|
-
|
-
|
46
|
n/m
|
1
|
n/m
|
n/m
|
1
|
n/m
|
n/m
|
|
Tezspire
|
4
|
n/m
|
n/m
|
-
|
-
|
-
|
-
|
-
|
2
|
n/m
|
n/m
|
2
|
n/m
|
n/m
|
|
Pulmicort
|
166
|
(33)
|
(28)
|
123
|
(36)
|
(32)
|
12
|
(37)
|
19
|
(19)
|
(7)
|
12
|
(5)
|
11
|
|
Daliresp/Daxas
|
28
|
(52)
|
(52)
|
1
|
(53)
|
(49)
|
25
|
(54)
|
2
|
(39)
|
(30)
|
-
|
-
|
-
|
|
Bevespi
|
14
|
(5)
|
(1)
|
1
|
28
|
46
|
10
|
(1)
|
3
|
(27)
|
(15)
|
-
|
-
|
-
|
|
Others
|
70
|
(53)
|
(47)
|
49
|
(36)
|
(27)
|
12
|
(20)
|
8
|
(86)
|
(83)
|
1
|
(57)
|
(43)
|
|
BioPharmaceuticals: V&I
|
1,129
|
(51)
|
(44)
|
321
|
(74)
|
(72)
|
226
|
n/m
|
334
|
(49)
|
(40)
|
248
|
(25)
|
(7)
|
|
Vaxzevria
|
85
|
(95)
|
(94)
|
45
|
(96)
|
(95)
|
-
|
-
|
40
|
(87)
|
(84)
|
-
|
-
|
-
|
|
Evusheld
|
734
|
n/m
|
n/m
|
246
|
n/m
|
n/m
|
217
|
n/m
|
99
|
50
|
74
|
172
|
n/m
|
n/m
|
|
Synagis
|
194
|
(19)
|
(3)
|
29
|
46
|
77
|
(1)
|
n/m
|
90
|
(26)
|
(14)
|
76
|
(21)
|
(3)
|
|
FluMist
|
116
|
(35)
|
(24)
|
1
|
(39)
|
(43)
|
10
|
n/m
|
105
|
(39)
|
(27)
|
-
|
(88)
|
(86)
|
|
Rare Disease
|
1,816
|
4
|
10
|
116
|
(12)
|
2
|
1,149
|
10
|
349
|
(6)
|
7
|
202
|
(1)
|
19
|
|
Soliris
|
844
|
(22)
|
(16)
|
83
|
(29)
|
(12)
|
491
|
(19)
|
179
|
(26)
|
(15)
|
91
|
(18)
|
(4)
|
|
Ultomiris
|
593
|
52
|
62
|
4
|
(6)
|
8
|
365
|
71
|
134
|
34
|
53
|
90
|
23
|
52
|
|
Strensiq
|
272
|
24
|
27
|
10
|
59
|
48
|
224
|
29
|
19
|
(1)
|
13
|
19
|
(6)
|
16
|
|
Koselugo
|
58
|
74
|
77
|
3
|
n/m
|
n/m
|
48
|
51
|
7
|
n/m
|
n/m
|
-
|
-
|
-
|
|
Kanuma
|
49
|
45
|
44
|
16
|
n/m
|
n/m
|
21
|
18
|
10
|
(8)
|
4
|
2
|
68
|
n/m
|
|
Other medicines
|
379
|
(7)
|
7
|
180
|
1
|
12
|
32
|
(11)
|
28
|
(23)
|
(19)
|
139
|
(12)
|
11
|
|
Nexium
|
300
|
(9)
|
7
|
131
|
1
|
13
|
26
|
(12)
|
9
|
(40)
|
(32)
|
134
|
(13)
|
9
|
|
Others
|
79
|
(1)
|
5
|
49
|
1
|
8
|
6
|
(2)
|
19
|
(12)
|
(10)
|
5
|
34
|
70
|
|
Total Product Sales
|
10,798
|
(6)
|
2
|
2,710
|
(25)
|
(18)
|
4,584
|
19
|
2,152
|
(12)
|
1
|
1,352
|
(13)
|
6
|