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AstraZeneca PLC (AZN)

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Thursday 08 November, 2018

AstraZeneca PLC

AZN: Year-to-Date and Q3 2018 Results

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