1st Quarter Results

AstraZeneca PLC
30 April 2003

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               Depositary                  Registered Office           Swedish Securities Register
Transfer Office             for ADRs                                                Centre

The AstraZeneca Registrar   JPMorgan Chase Bank         15 Stanhope Gate            VPC AB
Lloyds TSB Registrars       ADR Service Center          London                      PO Box 7822
The Causeway                PO Box 43013                W1K 1LN                     S-103 97 Stockholm
Worthing                    Providence, RI 02940-3013
West Sussex
BN99 6DA
Tel: [phone]        Tel: [phone]         Tel: [phone]        Tel: [phone]








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.


                      This information is provided by RNS
            The company news service from the London Stock Exchange