FORM 6-K
Report of Foreign Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For October 2006
Commission File Number: 001-11960
AstraZeneca PLC
15 Stanhope Gate, London W1K 1LN, England
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F X | Form 40-F |
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ______
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ______
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes | No X |
If Yes is marked, indicate below the file number assigned to the Registrant in connection with Rule 12g3-2(b): 82-____________
AstraZeneca PLC
INDEX TO EXHIBITS
1. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 3 October 2006. |
2. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 4 October 2006. |
3. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 5 October 2006. |
4. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 6 October 2006. |
5. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 9 October 2006. |
6. | Press release entitled, AstraZeneca Successfully Completes Mutual Recognition Procedure For Symbicort® Maintenance And Reliever Therapy (Symbicort SMART®) in the EU, dated 9 October 2006. |
7. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 10 October 2006. |
8. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 11 October 2006. |
9. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 12 October 2006. |
10. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 13 October 2006. |
11. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 16 October 2006. |
12. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 17 October 2006. |
13. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 18 October 2006. |
14. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 19 October 2006. |
15. | Press release entitled, AstraZeneca Submits EU and Canadian Regulatory Filings for Sustained Release Formulation SEROQUEL SR for the Treatment of Schizophrenia, dated 19 October 2006. |
16. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 20 October 2006. |
17. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 23 October 2006. |
18. | Press release entitled, FDA Approves AstraZenecas SEROQUEL® for Bipolar Depression Treatment, dated 23 October 2006. |
19. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 24 October 2006. |
20. | Press release entitled, Transaction by Person Discharging Managerial Responsibilities Disclosure Rules DR 3.1.2R, dated 24 October 2006. |
21. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 25 October 2006. |
22. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 26 October 2006. |
23. | Press release entitled, AstraZeneca PLC Third Quarter and Nine Months Results 2006 (front half), dated 26 October 2006. |
24. | Press release entitled, AstraZeneca PLC Third Quarter and Nine Months Results 2006 Consolidated Income Statement (back half), dated 26 October 2006. |
25. | Press release entitled, Repurchase of Shares in AstraZeneca PLC, dated 27 October 2006. |
26. | Press release entitled, AstraZeneca PLC Irrevocable, Non-Discretionary Share Repurchase Programme, dated 27 October 2006. |
27. | Press release entitled, Companies Act 1985 Section 198 Disclosure of Interest in Voting Shares in Public Companies, dated 30 October 2006. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
AstraZeneca PLC | ||||
Date: | 03 November 2006 | By: | /s/ A C N Kemp | |
Name: | A C N Kemp | |||
Title: | Assistant Secretary |
Item 1
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 393,451 ordinary shares of AstraZeneca PLC at a price of 3344 pence per share on 2 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,550,434,585.
G H R Musker
Company Secretary
3 October 2006
Item 2
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 395,612 ordinary shares of AstraZeneca PLC at a price of 3326 pence per share on 3 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,550,084,431.
G H R Musker
Company Secretary
4 October 2006
Item 3
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 395,338 ordinary shares of AstraZeneca PLC at a price of 3328 pence per share on 4 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,549,703,344.
G H R Musker
Company Secretary
5 October 2006
Item 4
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 392,087 ordinary shares of AstraZeneca PLC at a price of 3356 pence per share on 5 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,549,320,327.
G H R Musker
Company Secretary
6 October 2006
Item 5
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 396,861 ordinary shares of AstraZeneca PLC at a price of 3315 pence per share on 6 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,548,929,846.
G H R Musker
Company Secretary
9 October 2006
Item 6
AstraZeneca Successfully Completes Mutual Recognition Procedure For Symbicort® Maintenance And Reliever Therapy (Symbicort SMART®) in the EU
AstraZeneca today announced that it has successfully completed the European Union Mutual Recognition Procedure (MRP) for Symbicort® Maintenance And Reliever Therapy (Symbicort SMART®). This new treatment approach enables patients to take control of their asthma and use just one inhaler for both maintenance and relief of asthma symptoms.
Symbicort SMART is licensed for use in adults who need an inhaled corticosteroid (ICS) and a long acting bronchodilator (LABA) combination treatment. National approvals are expected to be issued throughout the EU over the coming months.
Asthma is a chronic inflammatory condition of the airways characterised by reversible airway obstruction. It is a variable condition that can change both daily and seasonally. With Symbicort SMART, patients take a maintenance dose of Symbicort to keep control of their asthma and if further symptoms occur, can take additional inhalations as needed, to provide symptom relief. When compared to traditional gold standard therapy, using multiple separate inhaler devices, Symbicort SMART is a more effective way to manage asthma, as it provides a simple way for patients to improve daily symptom control and reduce the risk of asthma attacks.
Dr John Patterson, Executive Director, Development for AstraZeneca said, This new treatment approach has the potential to improve the lives of many patients with asthma in Europe. By reducing both symptoms and the number of attacks they experience, patients can now achieve excellent asthma control using only one inhaler rather than the traditional approach of using multiple inhalers.
Symbicort SMART has been studied in a wide clinical trial programme involving over 14,000 patients with mild to severe persistent asthma. These studies consistently show that Symbicort SMART, irrespective of asthma severity, reduces the risk of patients developing potentially life-threatening asthma attacks significantly better than fixed dosing with either higher doses of ICS alone or with an ICS/LABA combination therapy plus a short-acting bronchodilator.
This extensive clinical trial programme includes COMPASS, a large, double-blinded, head-to-head study involving 3,335 patients with moderate to severe asthma, comparing Symbicort SMART to a double maintenance dose of Symbicort and with a similar dose of SeretideÔ (fluticasone/salmeterol). When compared to Seretide, Symbicort SMART was shown to reduce the risk of a severe asthma attack (primary endpoint) by 33 percent and to significantly reduce the total number of severe asthma attacks by 39 percent. Similar effects were reported with Symbicort SMART when compared to double the maintenance dose of Symbicort. Symbicort SMART patients had equal levels of daily asthma control compared to both fixed dose treatment approaches, yet received a lower overall steroid load during the six-month study period. No differences were seen in the safety of these treatment approaches.
Further data from the SMILE study, recently published in The Lancet, showed for the first time a positive effect of giving an inhaled steroid for daily maintenance and as-needed, i.e. to both prevent and treat symptoms. SMILE evaluated the benefits of different as needed therapies: budesonide/formoterol, formoterol or terbutaline on top of Symbicort maintenance therapy, in preventing asthma attacks. The use of as-needed budesonide/formoterol provided increased protection from severe attacks compared with terbutaline as-needed on top of Symbicort maintenance therapy. In addition, the use of budesonide/formoterol as-needed was significantly more effective than formoterol as-needed on top of Symbicort maintenance therapy.
Symbicort is currently approved in more than 90 countries and in July 2006 received US Food and Drug Administration (FDA) approval for maintenance treatment of asthma. Symbicort SMART is already approved in Argentina, Australia, Brazil, Mexico, the Philippines, Switzerland and Thailand. Symbicort has reached more than 5 million patient years, with sales reaching $585 million in the first half of 2006.
AstraZeneca is a major international healthcare business engaged in the research, development, manufacture and marketing of prescription pharmaceuticals and the supply of healthcare services. It is one of the world's leading pharmaceutical companies with healthcare sales of $23.95 billion and leading positions in sales of gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection products. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4Good Index.
9 October 2006
Media Enquiries:
Edel McCaffrey, Tel: +44 (0) 207 304 5034
Steve Brown, Tel: +44 (0) 207 304 5033
Chris Major, Tel: +44 (0) 207 304 5028
Investor Relations:
Mina Blair, Tel: +44 (0) 207 304 5084
Jonathan Hunt, Tel: +44 (0) 207 304 5087
Jörgen Winroth, Tel: +1 (212) 579 0506
Ed Seage, Tel: +1 302 886 4065
- - Ends - -
Item 7
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 397,611 ordinary shares of AstraZeneca PLC at a price of 3309 pence per share on 9 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,548,551,681.
G H R Musker
Company Secretary
10 October 2006
Item 8
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 397,444 ordinary shares of AstraZeneca PLC at a price of 3311 pence per share on 10 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,548,154,733.
G H R Musker
Company Secretary
11 October 2006
Item 9
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 399,294 ordinary shares of AstraZeneca PLC at a price of 3295 pence per share on 11 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,547,760,226.
G H R Musker
Company Secretary
12 October 2006
Item 10
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 396,195 ordinary shares of AstraZeneca PLC at a price of 3321 pence per share on 12 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,547,364,497.
G H R Musker
Company Secretary
13 October 2006
Item 11
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 393,211 ordinary shares of AstraZeneca PLC at a price of 3346 pence per share on 13 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,546,975,890.
G H R Musker
Company Secretary
16 October 2006
Item 12
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 390,934 ordinary shares of AstraZeneca PLC at a price of 3365 pence per share on 16 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,546,597,346.
G H R Musker
Company Secretary
17 October 2006
Item 13
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 389,295 ordinary shares of AstraZeneca PLC at a price of 3379 pence per share on 17 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,546,218,795.
G H R Musker
Company Secretary
18 October 2006
Item 14
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 385,539 ordinary shares of AstraZeneca PLC at a price of 3411 pence per share on 18 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,545,842,427.
G H R Musker
Company Secretary
19 October 2006
Item 15
AstraZeneca Submits EU and Canadian Regulatory Filings for Sustained Release Formulation SEROQUEL SRTM for the Treatment of Schizophrenia
AstraZeneca today announced further submissions to Regulatory Authorities for the approval of the sustained release (SR) once-daily formulation of SEROQUEL® for the treatment of patients with schizophrenia, including Canada and a Marketing Authorisation Application (MAA) in the European Union (EU) under Mutual Recognition Procedure (MRP). The submission will cover all markets in the EU where SEROQUEL® is currently approved.
This follows the NDA for SEROQUEL SRTM submitted in the US earlier this year. The clinical development programme supporting the SEROQUEL SRTM application in the EU included trials using a titration period aimed at achieving a therapeutically effective dose by the second day of treatment. Another trial studied schizophrenia relapse prevention in long-term treatment with SEROQUEL SRTM. The SR formulation has patent protection to 2017.
SEROQUEL® (quetiapine fumarate) has a well-established safety and efficacy profile and to date it is estimated that over 19 million people have been treated worldwide. SEROQUEL® has been licensed for the treatment of schizophrenia since 1997 and it is available in 85 countries for the treatment of this condition. SEROQUEL® is also licensed in 73 countries for the treatment of mania associated with bipolar disorder. SEROQUEL® is the number one prescribed atypical antipsychotic in the United States, with global sales of almost $2.8 billion in 2005.
19th October 2006
Media Enquiries:
Edel McCaffrey, Tel: +44 (0) 207 304 5034
Steve Brown, Tel: +44 (0) 207 304 5033
Investor Relations:
Mina Blair, Tel: +44 (0) 207 304 5084
Jonathan Hunt, Tel: +44 (0) 207 304 5087
Ed Seage, Tel: +1 302 886 4065
Jorgen Winroth, Tel +1 (212) 579 0506
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Item 16
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 376,600 ordinary shares of AstraZeneca PLC at a price of 3487 pence per share on 19 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,545,493,889.
G H R Musker
Company Secretary
20 October 2006
Item 17
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 375,275 ordinary shares of AstraZeneca PLC at a price of 3500 pence per share on 20 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,545,295,285.
G H R Musker
Company Secretary
23 October 2006
Item 18
FDA Approves AstraZenecas SEROQUEL® for Bipolar Depression Treatment
AstraZeneca has announced that the U.S. Food and Drug Administration (FDA) has approved SEROQUEL® (quetiapine fumarate) for the treatment of patients with depressive episodes associated with bipolar disorder. SEROQUEL already is approved for the treatment of acute manic episodes associated with bipolar I disorder and for the treatment of schizophrenia. SEROQUEL is now the first and only single medication approved by the FDA to treat both depressive and manic episodes associated with bipolar disorder.
The FDA approval was based primarily on results from the clinical trial programme known as BOLDER (BipOLar DEpRession), which comprises the BOLDER I and BOLDER II studies. In these studies, patients taking SEROQUEL showed an improvement in depressive symptoms starting at week one compared to those taking placebo, and this improvement continued throughout the eight-week study. The recommended dose is 300 mg once-daily, to be achieved by day four of treatment.
More than seven million American adults are affected by bipolar disorder, a serious psychiatric condition also known as manic depressive illness. Patients with bipolar disorder are symptomatic almost half of their lives, and approximately two-thirds of that time is spent in the depressed phase of the illness. For many people with bipolar disorder, the depressive symptoms are significantly more debilitating than the manic symptoms associated with the illness.
The new indication for SEROQUEL provides physicians and their patients with a single medication to treat both the depressive and manic episodes associated with bipolar disorder, said John Patterson, Executive Director Development, AstraZeneca. Treating acute bipolar disorder with a single medication may help patients adhere to their medication regimen.
Both studies in the BOLDER programme were double-blind, placebo-controlled trials of outpatients (N=1,045) with bipolar I or II disorder. Patients were randomized to receive eight weeks of treatment with fixed doses of SEROQUEL® (300 mg or 600 mg) or placebo administered once-daily. Efficacy in bipolar depression was demonstrated in the studies at both 300 mg a day and 600 mg a day. No additional benefit was seen in the 600 mg a day dose groups. Therefore, the recommended dose is 300 mg once-daily, to be achieved by day four of treatment.
SEROQUEL was generally well tolerated, with adverse event types similar to those seen in other clinical trials of SEROQUEL in bipolar mania and schizophrenia. The most frequent adverse events seen in the bipolar depression trials were dry mouth, sedation, somnolence, dizziness and constipation.
Because the depressive symptoms associated with bipolar disorder are also seen in major depressive disorder, a proper diagnosis can be difficult to achieve. In fact, studies show that as many as 69 percent of people with bipolar disorder were misdiagnosed, with the most frequent misdiagnosis being major depressive disorder. This misdiagnosis can lead to unfocused treatment that may exacerbate the disease.
Beyond schizophrenia, bipolar mania and bipolar depression, the ongoing clinical development programme includes investigations of the use of SEROQUEL in bipolar maintenance. Regulatory filings for the treatment of schizophrenia with a sustained release formulation of quetiapine fumarate, SEROQUEL SR, were submitted this year to regulatory authorities in the US, EU and other markets. Ongoing SEROQUEL SR clinical studies also cover major depressive disorder and generalized anxiety disorder. SEROQUEL is the number 1 prescribed atypical antipsychotic in the United States. With a well-established safety and efficacy profile, SEROQUEL has had more than 19 million patient exposures worldwide since its launch in 1997. In 2005, global sales for SEROQUEL reached $2.8 billion.
23 October 2006
Media Enquiries:
Edel McCaffrey, Tel: +44 (0) 207 304 5034
Steve Brown, Tel: +44 (0) 207 304 5033
Investor Relations:
Mina Blair, Tel: +44 (0) 207 304 5084
Jonathan Hunt, Tel: +44 (0) 207 304 5087
Ed Seage, Tel: +1 302 886 4065
Jorgen Winroth, Tel +1 (212) 579 0506
-Ends-
Item 19
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 373,998 ordinary shares of AstraZeneca PLC at a price of 3511 pence per share on 23 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,545,017,344.
G H R Musker
Company Secretary
24 October 2006
Item 20
Transaction by Person Discharging Managerial Responsibilities Disclosure Rules DR 3.1.2R
We hereby inform you that the Company was notified on 24 October 2006 that Martin Nicklasson, Executive Vice-President, Global Marketing, a person discharging managerial responsibilities, purchased AstraZeneca PLC USD0.25 Ordinary Shares traded on the Stockholm Stock Exchange as follows:
- on 28 August 2006, 3,500 shares at a price of SEK455.5 per share and 650 shares at a price of SEK454 per share;
- on 29 August 2006, 2,050 shares at a price of SEK461.5 per share and 1,450 shares at a price of SEK462 per share.
G H R Musker
Company Secretary
24 October 2006
Item 21
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 376,597 ordinary shares of AstraZeneca PLC at a price of 3490 pence per share on 24 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,544,729,908.
G H R Musker
Company Secretary
25 October 2006
Item 22
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 375,299 ordinary shares of AstraZeneca PLC at a price of 3501 pence per share on 25 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,544,379,921.
G H R Musker
Company Secretary
26 October 2006
Item 23
AstraZeneca PLC
Third Quarter and Nine Months Results 2006
A strong third quarter with sales up 11 percent and Earnings per Share up 34 percent.
Financial Highlights |
Group | 3rd Quarter | 3rd Quarter | Actual | CER | 9 Months | 9 Months | Actual | CER | ||||||||
2006 | 2005 | % | % | 2006 | 2005 | % | % | |||||||||
$m | $m | $m | $m | |||||||||||||
Sales | 6,516 | 5,789 | +13 | +11 | 19,321 | 17,664 | +9 | +11 | ||||||||
Operating Profit | 2,106 | 1,695 | +24 | +24 | 6,213 | 4,866 | +28 | +29 | ||||||||
Profit before Tax | 2,187 | 1,743 | +25 | +25 | 6,440 | 4,978 | +29 | +30 | ||||||||
Earnings per Share | $1.01 | $0.76 | +33 | +34 | $2.93 | $2.14 | +37 | +38 | ||||||||
Adjusted to exclude | ||||||||||||||||
Toprol-XLTM in US* | ||||||||||||||||
Sales | 6,143 | 5,455 | +13 | +11 | 18,216 | 16,719 | +9 | +11 | ||||||||
Earnings per Share | $0.87 | $0.65 | +34 | +34 | $2.53 | $1.84 | +38 | +39 |
* This Non-GAAP presentation excludes US sales and earnings contribution from Toprol-XLTM from both current year and prior year periods. | ||
All narrative in this section refers to growth rates at constant exchange rates (CER) unless otherwise indicated | ||
Third quarter sales increased by 11 percent to $6,516 million and operating profit increased by 24 percent to $2,106 million. | ||
Sales increase in the third quarter was driven by the strong performance of five key growth products whose combined sales increased by 21 percent to $3,322 million. | ||
Sales for the nine months were $19,321 million, up 11 percent. Operating profit for the nine months increased by 29 percent (including the $109 million divestment gain recognised in the second quarter of this year). Operating margin for the nine months was 32.2 percent of sales. | ||
Free cash flow of $4,793 million for the nine months. Share repurchases (net of shares issued) totalled $2,024 million year to date. | ||
CrestorTM share of new prescriptions in the US statin market reached 9.6 percent in the week ending 13 October. | ||
Regulatory submission for sustained release (SR) formulation of SeroquelTM in the European Union announced 19 October. US regulatory approval for the treatment of bipolar depression received on 20 October. Seroquel is now the first and only single medication approved to treat both depressive and manic episodes associated with bipolar disorder. | ||
Investigational drug NXY-059 does not meet efficacy endpoints in a pivotal Phase III trial in Acute Ischemic Stroke (the SAINT II study). The Company plans no further development. | ||
Successful completion of the European Union Mutual Recognition Procedure for SymbicortTM Maintenance And Reliever Therapy (Symbicort SMARTTM ) announced 9 October; launches for this new asthma treatment concept will take place over the coming months. | ||
The Company now anticipates earnings per share between $3.85 and $3.95 for the full year. |
David Brennan, Chief Executive Officer, said: For the Third Quarter we have produced another strong set of results, and have increased our financial targets for the full year. While todays announcement of the clinical trial results for NXY-059 is disappointing, I remain committed to maintaining this operating and financial momentum and to strengthening the pipeline.
London, 26 October 2006 | ||
Media Enquiries: | Steve Brown/Edel McCaffrey (London) | (020) 7304 5033/5034 |
Staffan Ternby (Södertälje) | (8) 553 26107 | |
Emily Denney (Wilmington) | (302) 886 3451 | |
Analyst/Investor Enquiries: | Mina Blair/Jonathan Hunt (London) | (020) 7304 5084/ 5087 |
Staffan Ternby (Södertälje) | (8) 553 26107 | |
Ed Seage/Jörgen Winroth (US) | (302) 886 4065/(212) 579 0506 |
Pictures of senior executives are available on www.newscast.co.uk. Broadcast footage of AstraZeneca products and activities is available on www.thenewsmarket.com/astrazeneca
AstraZeneca PLC
Business Highlights All narrative in this section refers to growth rates at constant exchange rates (CER) unless otherwise indicated
Third Quarter
Sales in the third quarter increased by 11 percent at CER, or 13 percent on an as reported basis (including an exchange benefit of 2 percent). Sales in the US were up 18 percent. Outside the US, sales were up 5 percent resulting from weakness in Europe (up 1 percent); sales in other markets grew by 12 percent.
R&D expense, including the consolidation of Cambridge Antibody Technology R&D spend, increased by 19 percent at CER compared with the third quarter last year (which was the lowest quarterly spend in 2005). SG&A expenses were up 4 percent at CER. Operating profit in the third quarter was up 24 percent to $2,106 million; operating margin was 32.3 percent. Earnings per share in the third quarter were $1.01 versus $0.76 in 2005, an increase of 34 percent.
The combined sales of five key growth products (NexiumTM, SeroquelTM, CrestorTM, ArimidexTM and SymbicortTM) grew by 21 percent in the third quarter to $3,322 million.
NexiumTM sales in the third quarter were up 13 percent to $1,280 million. Sales in the US were up 15 percent as continued strong volume growth was partially offset by lower realised prices.
SeroquelTM sales were up 19 percent to $848 million. On 19 October, the Company announced the regulatory submission for a sustained release (SR) once-daily formulation of SeroquelTM in the European Union. The US Food and Drug Administration (FDA) approved SeroquelTM for the treatment of patients with depressive episodes associated with bipolar disorder on 20 October.
CrestorTM sales in the quarter were $536 million, up 62 percent. CrestorTM share of new prescriptions in the US statin market in the week ending 13 October was 9.6 percent. CrestorTM sales in other markets were up 66 percent.
ArimidexTM sales in the third quarter were $382 million, up 24 percent. In August, ArimidexTM became the market leader in total prescriptions for hormonal treatments for breast cancer in the US market, surpassing tamoxifen for the first time.
SymbicortTM sales in the quarter were $276 million, up 11 percent. On 9 October, the successful completion of the European Union Mutual Recognition Procedure for SymbicortTM Maintenance And Reliever Therapy (Symbicort SMARTTM) was announced. This new treatment approach enables patients to take control of their asthma and use just one inhaler for both maintenance and relief of asthma symptoms.
Nine Months
For the nine months, sales increased 11 percent at CER, or 9 percent on an as reported basis (including a 2 percent adverse impact from currency movements). Sales in the US were up 15 percent, with sales in other markets up 7 percent. Combined sales for five key growth products were $9,616 million (up 23 percent): NexiumTM (up 12 percent), SeroquelTM (up 26 percent), CrestorTM (up 53 percent), ArimidexTM (up 30 percent) and SymbicortTM (up 19 percent).
At CER, the rate of SG&A expense growth (up 6 percent) was 5 percentage points less than the rate of sales growth, resulting in an improved operating margin (32.2 percent of sales), despite the 14 percent increase in R&D expenditure for the nine months. Operating profit increased by 29 percent to $6,213 million (including the $109 million divestment gain recognised in the second quarter this year). Earnings per share were $2.93 compared with $2.14 last year, an increase of 38 percent.
Future Prospects
For the full year, the Company now anticipates earnings per share in the range of $3.85 to $3.95.
Included in this target is around 10 cents of earnings related to Toprol-XLTM in the US for the remaining 2 months of the year. This 10 cents of earnings exposure excludes any one-time asset or inventory adjustments that may be required should generic companies receive final regulatory approval and seek to launch at risk.
Disclosure Notice: The preceding forward-looking statements relating to expectations for earnings and business prospects for AstraZeneca PLC are subject to risks and uncertainties, which may cause results to differ materially from those set forth in the forward-looking statements. These include, but are not limited to: when and if a generic competitor to Toprol-XL were introduced in the US market prior to completion of Appellate Court process, the rate of growth in sales of generic omeprazole in the US, continued growth in currently marketed products (in particular Crestor, Nexium, Seroquel, Symbicort and Arimidex), the growth in costs and expenses, interest rate movements, exchange rate fluctuations, and the tax rate. For further details on these and other risks and uncertainties, see AstraZeneca PLCs Securities and Exchange Commission filings, including the 2005 Annual Report on Form 20-F.
2
AstraZeneca PLC
Sales |
All narrative in this section refers to growth rates at constant exchange rates (CER) unless otherwise indicated
Gastrointestinal
Third Quarter | CER % | Nine Months | CER % | |||||||||
2006 | 2005 | 2006 | 2005 | |||||||||
Nexium | 1,280 | 1,127 | +13 | 3,752 | 3,386 | +12 | ||||||
Losec / Prilosec | 324 | 376 | -15 | 1,024 | 1,241 | -15 | ||||||
Total | 1,625 | 1,518 | +6 | 4,830 | 4,678 | +4 | ||||||
Cardiovascular
Third Quarter | CER % | Nine Months | CER % | |||||||||
2006 | 2005 | 2006 | 2005 | |||||||||
Seloken / Toprol-XL | 473 | 437 | +7 | 1,407 | 1,280 | +10 | ||||||
Crestor | 536 | 325 | +62 | 1,403 | 915 | +53 | ||||||
Atacand | 279 | 238 | +13 | 809 | 727 | +12 | ||||||
Plendil | 68 | 82 | -18 | 210 | 287 | -26 | ||||||
Zestril | 76 | 83 | -10 | 229 | 248 | -6 | ||||||
Total | 1,579 | 1,327 | 17 | 4,509 | 3,954 | +15 | ||||||
3
AstraZeneca PLC
Respiratory
Third Quarter | CER % | Nine Months | CER % | |||||||||
2006 | 2005 | 2006 | 2005 | |||||||||
Pulmicort | 263 | 234 | +11 | 892 | 824 | +9 | ||||||
Symbicort | 276 | 240 | +11 | 861 | 742 | +19 | ||||||
Rhinocort | 83 | 91 | -9 | 270 | 295 | -8 | ||||||
Oxis | 21 | 23 | -13 | 65 | 69 | -5 | ||||||
Accolate | 20 | 14 | +43 | 59 | 55 | +7 | ||||||
Total | 696 | 636 | +7 | 2,252 | 2,100 | +9 | ||||||
Oncology
Third Quarter | CER % | Nine Months | CER % | |||||||||
2006 | 2005 | 2006 | 2005 | |||||||||
Arimidex | 382 | 303 | +24 | 1,096 | 856 | +30 | ||||||
Casodex | 299 | 276 | +7 | 879 | 840 | +8 | ||||||
Zoladex | 255 | 258 | -2 | 736 | 752 | +1 | ||||||
Iressa | 62 | 61 | +5 | 174 | 201 | -10 | ||||||
Faslodex | 47 | 37 | +24 | 138 | 101 | +38 | ||||||
Nolvadex | 21 | 26 | -15 | 66 | 86 | -18 | ||||||
Total | 1,076 | 963 | +11 | 3,105 | 2,844 | +12 | ||||||
4
AstraZeneca PLC
Neuroscience
Third Quarter | CER % | Nine Months | CER % | |||||||||
2006 | 2005 | 2006 | 2005 | |||||||||
Seroquel | 848 | 706 | +19 | 2,504 | 2,006 | +26 | ||||||
Zomig | 99 | 86 | +13 | 295 | 258 | +16 | ||||||
Total | 1,150 | 1,001 | +14 | 3,464 | 2,975 | +17 | ||||||
Geographic Sales
Third Quarter | CER % | Nine Months | CER % | |||||||||
2006 | 2005 | 2006 | 2005 | |||||||||
US | 3,100 | 2,621 | +18 | 9,059 | 7,864 | +15 | ||||||
Europe | 2,118 | 2,012 | +1 | 6,545 | 6,374 | +7 | ||||||
Japan | 370 | 367 | +7 | 1,061 | 1,103 | +4 | ||||||
RoW | 928 | 789 | +15 | 2,656 | 2,323 | +12 | ||||||
5
AstraZeneca PLC
Operating Review |
All narrative in this section refers to growth rates at constant exchange rates (CER) unless otherwise indicated
Third Quarter
Reported sales increased by 13 percent and operating profit by 24 percent. At constant exchange rates, sales increased by 11 percent and operating profit by 24 percent.
Currency movements for the quarter had a positive impact on sales of 2 percent and were neutral to operating profit. In comparison to quarter three last year, the dollar was weaker against the euro (4 percent), increasing sales, and also against the Swedish krona (6 percent) and sterling (5 percent), increasing costs. As a result of this currency profile there was minimal currency impact to earnings per share for the quarter.
Underlying US sales growth is broadly in line with reported growth of 18 percent after adjusting for managed market accruals, inventory movements and other factors. Outside the US, sales increased by 5 percent.
Reported operating margin increased by 3.0 percentage points from 29.3 percent to 32.3 percent. Excluding the effects of currency and other income, underlying margin improved 2.3 percentage points for the quarter.
Gross margin increased by 1.0 percentage points to 79.5 percent of sales. Payments to Merck at 4.8 percent of sales were level with the third quarter last year. Currency reduced gross margin by 0.1 percentage points over quarter three last year and royalty payments decreased margin by 0.3 percentage points. Taken together this implies an underlying margin increase of 1.4 percentage points, primarily due to a more favourable product and market mix as well as increased operational efficiencies.
R&D expenditure was $962 million in the third quarter, up 19 percent over last year due to increased activity levels related to the progression of the in-house portfolio and the effect of the externalisation strategy. Included in R&D is $31 million of investment related to Cambridge Antibody Technology Group plc, which accounted for approximately 4 percent of the growth over quarter three last year. In comparison to the low third quarter 2005, R&D investment reduced operating margin by 1.0 percentage points.
SG&A increased by 4 percent to $2,180 million for the quarter resulting from increased investment in emerging markets and the continued investment in our key products across the business. Our ability to hold the rate of SG&A growth below the rate of growth of sales led to SG&A adding 2.2 percentage points to operating margin in the quarter.
Higher other income increased operating margin by 1.2 percentage points, due primarily to an increase in royalties.
The fair value adjustments relating to financial instruments amounted to a $17 million charge in the quarter; $16 million charge to cost of sales and $1 million charge to interest.
Nine Months
Reported sales increased by 9 percent and operating profit by 28 percent. At constant exchange rates, sales increased by 11 percent and operating profit by 29 percent.
Currency had an adverse impact on sales of 2 percent and 1 percent on operating profit. Cumulatively, exchange has decreased EPS by 2 cents. Assuming current exchange rates remain unchanged for the remainder of the year, we would expect to see a further adverse impact to EPS in quarter four of around 2 cents.
Underlying US sales growth approximates to reported sales growth of 15 percent for the nine months. Outside the US, sales increased by 7 percent.
Operating margin increased by 4.7 percentage points from 27.5 percent to 32.2 percent. Excluding the effects of currency and other income, underlying margin improved 3.1 percentage points for the nine months.
Gross margin increased by 1.9 percentage points to 79.4 percent of sales. Payments to Merck (4.7 percent of sales) had a neutral effect on gross margin with currency and royalties reducing gross margin by 0.1 percentage points and 0.2 percentage points respectively. Excluding prior year costs for the early termination of the Medpointe Zomig US distribution agreement, underlying margin improved by 2.0 percentage points.
6
AstraZeneca PLC
R&D expenditure was up 14 percent to $2,778 million (13 percent excluding Cambridge Antibody Technology Group plc investment) reducing operating margin by 0.4 percentage points. SG&A increased by 6 percent over last year to $6,585 million, adding 1.5 percentage points to operating margin.
Higher other income increased operating margin by 1.4 percentage points due principally to higher royalties and the $109 million gain recognised in quarter two from the divestment of the US anaesthetics and analgesic products to Abraxis Biosciences, Inc.
The fair value adjustments relating to financial instruments amounted to a $21 million charge for the nine months to cost of sales.
Toprol-XL
In the nine months, Toprol-XL contributed US sales of $1,105 million and EPS of 40 cents. While uncertainties remain as to whether, when and with which strengths generic companies will launch, the Company believes that future performance can be best judged by excluding Toprol-XL from current performance. Consequently, if Toprol-XL were excluded from the current and prior period for the nine months, sales growth would be 11 percent (11 percent for the quarter) and EPS growth would be 39 percent (34 percent for the quarter).
Based on current forecasts, the contribution of Toprol-XL to EPS for the remaining two months of the year is estimated at 10 cents, assuming no generic launches at risk.
Interest and Dividend Income
Net interest and dividend income for the nine months was $227 million (2005 $112 million), with $81 million in the third quarter (2005 $48 million). The increase over 2005 is primarily attributable to higher average investment balances and yields. The reported amounts include $35 million (2005 $13 million) in the nine months, and $11 million (2005 $2 million) in the quarter, arising from employee benefit fund assets and liabilities reported under IAS 19, Employee Benefits.
Taxation
The effective tax rate for the nine months was 28.3 percent (27.2 percent for quarter) compared with 29.8 percent (29.4 percent for quarter) for the same period last year. The decrease over 2005 is primarily due to tax benefits on share based payments and a different geographical mix of profits. The tax benefit in relation to share based payments had the effect of reducing the tax rate by 0.7 percentage points for the nine months, driven by a higher tax credit recognised as a result of the increase in the share price applied to all outstanding options. The 2005 rate included a one-off adverse impact of no tax relief in respect of the LosecTM fine. It is anticipated that the full year tax rate for 2006 will be in the range of 28 to 29 percent.
Cash Flow
Free cash flow* for the nine months was $4,793 million compared to $4,294 million in the same period of 2005.
Shareholder returns of $4,244 million comprising net share repurchases of $2,024 million and $2,220 million dividend payments and a net $1,170 million cash outflow from the acquisitions (net of cash acquired), resulted in an overall decrease in net funds of $435 million.
Cash generated from operating activities in the period was $5,533 million, $719 million higher than in the first nine months of 2005. An increase in profit before tax of $1,462 million was offset by a $236 million increase in working capital requirements and a $422 million increase in tax paid.
Net cash outflows from investing activities of $557 million for the nine months compared to $621 million in 2005. Net cash from investing activities was affected by the management of group funds, with funds being transferred between long-term deposits and liquid cash; inflows for the nine months of $1,353 million contrast with outflows of $101 million in 2005. During the nine months, cash of $1,170 million was paid for the acquisition of Cambridge Antibody Technology Group plc and KuDOS Pharmaceuticals Limited. There was a $352 million increase in expenditure on intangible assets, mainly as a result of new collaboration deals.
* - Cash flows before share issues and returns to shareholders; movements in short term investments, fixed deposits and short term borrowings; and acquisitions.
7
AstraZeneca PLC
Investments
The Company announced in July a collaboration with Abbott Laboratories to co-develop and market a combination product using CrestorTM and Abbotts proprietary, next generation TriCor® (ABT-335).
In August, the Company completed the acquisition of Cambridge Antibody Technology Group plc (CAT). The Company has consolidated total net assets of approximately $1,200 million on the acquisition, including intangible assets and goodwill of approximately $1,300 million (representing products in development, royalty income from launched products and the technologies utilised in developing monoclonal antibodies together with the resultant libraries), deferred tax liabilities of $355 million and other net assets of $295 million. On 25 October, the Company disposed of the Humira royalty stream, an asset acquired as part of the acquisition of CAT, to Royalty Pharma for $700 million, settled in cash (subject to adjustment for all royalty amounts accrued for and received by CAT since 1 January 2006). There was no gain or loss on disposal. The disposal has the effect of reducing the intangible assets and goodwill recognised to approximately $600 million. Consequently the associated annual amortisation will be reduced from approximately $80 million to $20 million, offsetting the effect of the disposal of the royalty income stream.
The Company also announced in August a research and commercialisation agreement with Pozen Inc. to co-develop and market a fixed dose combination product of esomeprazole and coated naproxen. The upfront payment of $40 million, which was settled in cash, has been capitalised as an intangible asset.
During September, the Company has announced collaboration and commercialisation agreements with Dynavax Technologies Corporation and Schering AG. The initial payments totalling $23 million have been capitalised as
intangible assets.
Share Repurchase Programme |
During the third quarter, 21.4 million shares were repurchased for cancellation at a total cost of $1,331 million, bringing the total repurchases for the first nine months of the year to 52.5 million shares at a total cost of $2,958 million. During the first nine months, 22.5 million shares were issued, in consideration of share option exercises and in relation to employee share plans, for a total of $934 million. It is anticipated that share repurchases (net of new issues) for the full year will be around $3 billion.
The total number of shares in issue at 30 September 2006 was 1,551 million.
The share buy back programme is calculated to have added 5 cents to EPS for the nine months after allowing for an estimate of interest income foregone.
R&D Update |
The regulatory filing for a sustained release (SR) formulation for SeroquelTM in the European Union was submitted on 19 October. The US FDA approved Seroquel for the treatment of patients with depressive episodes associated with bipolar disorder on 20 October.
The successful completion of the European Union Mutual Recognition Procedure for SymbicortTM Maintenance And Reliever Therapy (Symbicort SMARTTM) was announced on 9 October.
The METEOR clinical trial for CrestorTM has been completed and the study has been submitted for presentation at the American College of Cardiology meeting in March 2007. The findings from the METEOR study, together with data from the ASTEROID and ORION studies, will form the basis of the planned regulatory submission for atherosclerosis in the first half of 2007.
As announced on 26 October, results from the SAINT II trial showed that the investigational drug NXY-059 did not meet its primary outcome of a statistically significant reduction in stroke related disability, as assessed by the modified Rankin Scale (mRS) (p=0.33, odds ratio 0.94) . AstraZeneca plans no further development of NXY-059 in acute ischemic stroke.
The Phase III study of Iressa (gefitinib) in patients with highly refractory squamous cell head and neck cancer (the IMEX study) did not achieve its primary objective of demonstrating improved overall survival compared with methotrexate chemotherapy. Although Iressa showed some evidence of anti-tumour activity in the trial, the Company has decided not to make a regulatory marketing application based upon this data. Data from the IMEX study will be presented at a suitable medical meeting in due course.
8
AstraZeneca PLC
PLATO, the phase III clinical trial for AZD6140, has commenced patient enrolment. PLATO is a head to head outcomes study of AZD6140 versus clopidogrel. The trial will be conducted in over 40 countries with 1,000
investigational centres and will include 18,000 Acute Coronary Syndrome (ACS) patients. PLATO is designed to reflect the real world by including a broad patient population in the study.
Calendar | ||
1 February 2007 | Announcement of fourth quarter and full year 2006 results | |
26 April 2007 | Announcement of first quarter 2007 results | |
26 April 2007 | Annual General Meeting | |
26 July 2007 | Announcement of second quarter and half year 2007 results | |
1 November 2007 | Announcement of third quarter and nine months 2007 results | |
David Brennan | ||
Chief Executive Officer |
9
Item 24 | ||||||||
Consolidated Income Statement | ||||||||
For the nine months ended 30 September |
2006 $m |
2005 $m |
||||||
|
|
|
|
|
|
|
||
Sales | 19,321 | 17,664 | ||||||
Cost of sales | (3,981 | ) | (3,968 | ) | ||||
Distribution costs | (165 | ) | (155 | ) | ||||
Research and development | (2,778 | ) | (2,506 | ) | ||||
Selling, general and administrative costs | (6,585 | ) | (6,292 | ) | ||||
Other operating income | 401 | 123 | ||||||
|
|
|
|
|
|
|
||
Operating profit | 6,213 | 4,866 | ||||||
Finance income | 621 | 484 | ||||||
Finance expense | (394 | ) | (372 | ) | ||||
|
|
|
|
|
|
|
||
Profit before tax | 6,440 | 4,978 | ||||||
Taxation | (1,822 | ) | (1,481 | ) | ||||
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|
|
|
|
|
|
||
Profit for the period | 4,618 | 3,497 | ||||||
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|
|
|
|
|
||
Attributable to: | ||||||||
Equity holders of the Company | 4,611 | 3,482 | ||||||
Minority interests | 7 | 15 | ||||||
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|
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|
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|
||
4,618 | 3,497 | |||||||
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|
|
||
Basic earnings per $0.25 Ordinary Share | $ | 2.93 | $ | 2.14 | ||||
Diluted earnings per $0.25 Ordinary Share | $ | 2.92 | $ | 2.14 | ||||
|
|
|
|
|
|
|
||
Weighted average number of Ordinary Shares in issue (millions) | 1,572 | 1,626 | ||||||
Diluted average number of Ordinary Shares in issue (millions) | 1,578 | 1,627 | ||||||
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|
||
Dividends declared in the period | 2,217 | 1,676 | ||||||
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10
Consolidated Income Statement | ||||||||
For the quarter ended 30 September |
2006 $m |
2005 $m |
||||||
|
|
|
|
|
|
|
||
Sales | 6,516 | 5,789 | ||||||
Cost of sales | (1,339 | ) | (1,245 | ) | ||||
Distribution costs | (53 | ) | (51 | ) | ||||
Research and development | (962 | ) | (781 | ) | ||||
Selling, general and administrative costs | (2,180 | ) | (2,056 | ) | ||||
Other operating income | 124 | 39 | ||||||
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|
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Operating profit | 2,106 | 1,695 | ||||||
Finance income | 221 | 168 | ||||||
Finance expense | (140 | ) | (120 | ) | ||||
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|
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Profit before tax | 2,187 | 1,743 | ||||||
Taxation | (595 | ) | (513 | ) | ||||
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|
|
||
Profit for the period | 1,592 | 1,230 | ||||||
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|
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|
||
Attributable to: | ||||||||
Equity holders of the Company | 1,587 | 1,223 | ||||||
Minority interests | 5 | 7 | ||||||
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|
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|
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|
||
1,592 | 1,230 | |||||||
|
|
|
|
|
|
|
||
Basic earnings per $0.25 Ordinary Share | $ | 1.01 | $ | 0.76 | ||||
Diluted earnings per $0.25 Ordinary Share | $ | 1.01 | $ | 0.76 | ||||
|
|
|
|
|
|
|
||
Weighted average number of Ordinary Shares in issue (millions) | 1,562 | 1,611 | ||||||
Diluted average number of Ordinary Shares in issue (millions) | 1,569 | 1,613 | ||||||
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11
Consolidated Balance Sheet | ||||||||||||
As at 30 September 2006 $m |
As at 31 December 2005 $m |
As at 30 September 2005 $m |
||||||||||
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|
||||||
ASSETS | ||||||||||||
Non-current assets | ||||||||||||
Property, plant and equipment | 7,297 | 6,985 | 7,262 | |||||||||
Intangible assets, including Goodwill | 4,710 | 2,712 | 2,763 | |||||||||
Other investments | 137 | 256 | 239 | |||||||||
Deferred tax assets | 1,545 | 1,117 | 1,168 | |||||||||
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|
||||||
13,689 | 11,070 | 11,432 | ||||||||||
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||||||
Current assets | ||||||||||||
Inventories | 2,209 | 2,206 | 2,493 | |||||||||
Trade and other receivables | 5,404 | 4,778 | 4,776 | |||||||||
Other investments | 413 | 1,624 | 1,242 | |||||||||
Income tax receivable | 651 | 183 | 184 | |||||||||
Cash and cash equivalents | 5,756 | 4,979 | 4,400 | |||||||||
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|
||||||
14,433 | 13,770 | 13,095 | ||||||||||
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|
||||||
Total assets | 28,122 | 24,840 | 24,527 | |||||||||
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||||||
LIABILITIES | ||||||||||||
Current liabilities | ||||||||||||
Interest bearing loans and borrowings | (113 | ) | (90 | ) | (122 | ) | ||||||
Trade and other payables | (5,780 | ) | (5,466 | ) | (5,404 | ) | ||||||
Income tax payable | (2,195 | ) | (1,283 | ) | (1,215 | ) | ||||||
|
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|
|
|
|
||||||
(8,088 | ) | (6,839 | ) | (6,741 | ) | |||||||
|
||||||||||||
Non-current liabilities | ||||||||||||
Interest bearing loans and borrowings | (1,089 | ) | (1,111 | ) | (1,122 | ) | ||||||
Deferred tax liabilities | (1,772 | ) | (1,112 | ) | (1,217 | ) | ||||||
Retirement benefit obligations | (1,752 | ) | (1,706 | ) | (1,678 | ) | ||||||
Provisions | (329 | ) | (309 | ) | (316 | ) | ||||||
Other payables | (309 | ) | (72 | ) | (84 | ) | ||||||
|
||||||||||||
(5,251 | ) | (4,310 | ) | (4,417 | ) | |||||||
|
||||||||||||
Total liabilities | (13,339 | ) | (11,149 | ) | (11,158 | ) | ||||||
|
||||||||||||
Net assets | 14,783 | 13,691 | 13,369 | |||||||||
|
||||||||||||
EQUITY | ||||||||||||
Capital and reserves attributable to equity holders of the | ||||||||||||
Company | ||||||||||||
Share capital | 388 | 395 | 399 | |||||||||
Share premium account | 1,620 | 692 | 638 | |||||||||
Other reserves | 1,856 | 1,831 | 1,866 | |||||||||
Retained earnings | 10,819 | 10,679 | 10,372 | |||||||||
|
||||||||||||
14,683 | 13,597 | 13,275 | ||||||||||
Minority equity interests | 100 | 94 | 94 | |||||||||
|
||||||||||||
Total equity | 14,783 | 13,691 | 13,369 | |||||||||
|
12
Consolidated Cash Flow Statement
For the nine months ended 30 September |
2006 $m |
2005 $m |
||||||
|
|
|
|
|
||||
Cash flows from operating activities | ||||||||
Profit before taxation | 6,440 | 4,978 | ||||||
Finance income and expense | (227 | ) | (112 | ) | ||||
Depreciation and amortisation | 917 | 933 | ||||||
(Increase)/decrease in working capital | (164 | ) | 72 | |||||
Other non-cash movements | 241 | 175 | ||||||
|
|
|
|
|
||||
Cash generated from operations | 7,207 | 6,046 | ||||||
Interest paid | (35 | ) | (15 | ) | ||||
Tax paid | (1,639 | ) | (1,217 | ) | ||||
Net cash inflow from operating activities | 5,533 | 4,814 | ||||||
Cash flows from investing activities | ||||||||
Acquisition of businesses | (1,170 | ) | - | |||||
Movement in short term investments and fixed deposits | 1,353 | (101 | ) | |||||
Purchase of property, plant and equipment | (565 | ) | (586 | ) | ||||
Disposal of property, plant and equipment | 20 | 77 | ||||||
Purchase of intangible assets | (489 | ) | (137 | ) | ||||
Purchase of non-current asset investments | (15 | ) | (6 | ) | ||||
Disposal of non-current asset investments | 54 | - | ||||||
Interest received | 259 | 137 | ||||||
Dividends paid by subsidiaries to minority interest | (4 | ) | (5 | ) | ||||
Net cash outflow from investing activities | (557 | ) | (621 | ) | ||||
Net cash inflow before financing activities | 4,976 | 4,193 | ||||||
Cash flows from financing activities | ||||||||
Proceeds from issue of share capital | 934 | 76 | ||||||
Repurchase of shares | (2,958 | ) | (2,182 | ) | ||||
Dividends paid | (2,220 | ) | (1,717 | ) | ||||
Movement in short term borrowings | 36 | 8 | ||||||
Net cash outflow from financing activities | (4,208 | ) | (3,815 | ) | ||||
Net increase in cash and cash equivalents in the period | 768 | 378 | ||||||
Cash and cash equivalents at the beginning of the period | 4,895 | 3,927 | ||||||
Exchange rate effects | 22 | (16 | ) | |||||
Cash and cash equivalents at the end of the period | 5,685 | 4,289 | ||||||
Cash and cash equivalents consists of: | ||||||||
Cash and cash equivalents | 5,756 | 4,400 | ||||||
Overdrafts | (71 | ) | (111 | ) | ||||
5,685 | 4,289 | |||||||
13
Consolidated Statement of Recognised Income and Expense
For the nine months ended 30 September |
2006 $m |
2005 $m |
||||||
|
|
|
|
|
||||
Profit for the period | 4,618 | 3,497 | ||||||
Foreign exchange adjustments on consolidation | 565 | (910 | ) | |||||
Available for sale losses taken to equity | (11 | ) | - | |||||
Actuarial loss for the period | (13 | ) | (19 | ) | ||||
Tax on items taken directly to reserves | 95 | 4 | ||||||
Total recognised income and expense for the period | 5,254 | 2,572 | ||||||
Attributable to: | ||||||||
Equity holders of the Company | 5,248 | 2,571 | ||||||
Minority interests | 6 | 1 | ||||||
5,254 | 2,572 | |||||||
14
Notes to the Interim Financial Statements
1 | BASIS OF PREPARATION AND ACCOUNTING POLICIES |
The unaudited financial statements for the nine months ended 30 September 2006 have been prepared in accordance with International Accounting Standards and International Financial Reporting Standards (collectively IFRS) as adopted by the European Union (EU). Details of the accounting policies applied are those set out in AstraZeneca PLCs Annual Report and Form 20-F Information 2005. | |
The information contained in Note 3 updates the disclosures concerning legal proceedings and contingent liabilities in the Companys Annual Report and Form 20-F Information 2005. | |
These interim financial statements do not constitute statutory accounts of the Group within the meaning of Section 240 of the Companies Act 1985. Statutory accounts for the year ended 31 December 2005 have been filed with the Registrar of Companies. The auditors report on those accounts was unqualified and did not contain any statement under Section 237 of the Companies Act 1985. | |
2 | NET CASH FUNDS |
The table below provides an analysis of net cash funds and a reconciliation of net cash flow to the movement in net cash funds.
At 1 Jan 2006 $m |
Cash Flow $m |
Acquisitions $m |
Non-cash Movements $m |
Exchange Movements $m |
At 30 Sept 2006 $m |
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Loans due after 1 year | (1,111 | ) | - | - | 22 | - | (1,089 | ) | ||||||||||||||||
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Other investments - current | 1,624 | (1,353 | ) | 157 | (19 | ) | 4 | 413 | ||||||||||||||||
Cash and cash equivalents | 4,979 | 754 | - | - | 23 | 5,756 | ||||||||||||||||||
Overdrafts | (84 | ) | 14 | - | - | (1 | ) | (71 | ) | |||||||||||||||
Short term borrowings | (6 | ) | (36 | ) | - | - | - | (42 | ) | |||||||||||||||
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6,513 | (621 | ) | 157 | (19 | ) | 26 | 6,056 | |||||||||||||||||
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Net funds | 5,402 | (621 | ) | 157 | 3 | 26 | 4,967 | |||||||||||||||||
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Non-cash movements in the period consist of fair value adjustments under IAS 39.
15
3 | LEGAL PROCEEDINGS AND COMMITMENTS |
AstraZeneca is involved in various legal proceedings considered typical to its business, including litigation relating to employment matters, product liability, commercial disputes, infringement of intellectual property rights and the validity of certain patents. The matters discussed below constitute the more significant developments since publication of the disclosures concerning legal proceedings in the Companys Annual Report and Form 20-F Information 2005 and Half Year Results 2006. Losec MUPS (omeprazole) / Nexium tablets (esomeprazole magnesium) An oral hearing is scheduled to take place at the EPO on 19 December 2006 to hear an appeal concerning the validity of an AstraZeneca substance patent in Europe relating to Nexium. The final decision of the EPO in these proceedings is expected to be announced on the same date. Nexium (esomeprazole magnesium) In particular, the notice from Dr Reddys did not challenge three Orange Book-listed patents claiming esomeprazole magnesium (US patents numbers 5,714,504; 5,877,192; and 6,875,872). AstraZenecas exclusivity relating to these three patents expires in 2014 and 2015 and Dr Reddys cannot market generic esomeprazole magnesium in the US until the end of the exclusivity afforded by these patents. As a result, AstraZeneca has not commenced proceedings against Dr Reddys in response to the ANDA filing. AstraZeneca has full confidence in, and will continue vigorously to defend and enforce, its intellectual property rights protecting Nexium, including those patents listed in the FDAs Orange Book. Seroquel (quetiapine fumarate) Zestril (lisinopril) US Securities and Exchange Commission enquiry General Arrangements with Merck |
16
The exit provisions are subject to a minimum overall net payment of $3.3 billion and will offer AstraZeneca unencumbered discretion in its operations in the US market (except in respect of Prilosec and Nexium) without the restrictions of various contractual obligations that are currently imposed as a result of Mercks interests, together with relief from contingent payment obligations. The projected value of the benefits to be obtained in 2008 depends on a number of factors, including the future contributions from products that have already been launched, those that are due to be launched in the US and those that are in development, together with the further value that AstraZeneca can extract from greater freedom to operate in the US. | |
4 | NINE MONTHS TERRITORIAL SALES ANALYSIS |
% Growth | ||||||||||||||||
9 Months 2006 $m |
9 Months 2005 $m |
Actual |
Constant Currency |
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US | 9,059 | 7,864 | 15 | 15 | ||||||||||||
Canada | 768 | 719 | 7 | (1 | ) | |||||||||||
North America | 9,827 | 8,583 | 14 | 13 | ||||||||||||
France | 1,219 | 1,265 | (4 | ) | (1 | ) | ||||||||||
UK | 613 | 561 | 9 | 12 | ||||||||||||
Germany | 864 | 917 | (6 | ) | (3 | ) | ||||||||||
Italy | 954 | 878 | 9 | 13 | ||||||||||||
Sweden | 228 | 232 | (2 | ) | 3 | |||||||||||
Europe others | 2,667 | 2,521 | 6 | 9 | ||||||||||||
Total Europe | 6,545 | 6,374 | 3 | 7 | ||||||||||||
Japan | 1,061 | 1,103 | (4 | ) | 4 | |||||||||||
China | 241 | 196 | 23 | 20 | ||||||||||||
Rest of World | 1,647 | 1,408 | 17 | 17 | ||||||||||||
Total | 19,321 | 17,664 | 9 | 11 | ||||||||||||
5 | THIRD QUARTER TERRITORIAL SALES ANALYSIS |
% Growth | ||||||||||||||||
3rd Quarter 2006 $m |
3rd Quarter 2005 $m |
Actual | Constant Currency |
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US | 3,100 | 2,621 | 18 | 18 | ||||||||||||
Canada | 255 | 231 | 10 | 1 | ||||||||||||
North America | 3,355 | 2,852 | 18 | 17 | ||||||||||||
France | 385 | 391 | (2 | ) | (7 | ) | ||||||||||
UK | 213 | 181 | 18 | 14 | ||||||||||||
Germany | 284 | 296 | (4 | ) | (8 | ) | ||||||||||
Italy | 294 | 269 | 9 | 5 | ||||||||||||
Sweden | 72 | 70 | 3 | (3 | ) | |||||||||||
Europe others | 870 | 805 | 8 | 4 | ||||||||||||
Total Europe | 2,118 | 2,012 | 5 | 1 | ||||||||||||
Japan | 370 | 367 | 1 | 7 | ||||||||||||
China | 85 | 61 | 39 | 36 | ||||||||||||
Rest of World | 588 | 497 | 18 | 18 | ||||||||||||
Total | 6,516 | 5,789 | 13 | 11 | ||||||||||||
17
6 | NINE MONTHS PRODUCT SALES ANALYSIS |
World | US | |||||||||||||||||||||||
9 Months 2006 $m |
9 Months 2005 $m |
Actual Growth % |
Constant Currency Growth % |
9 Months 2006 $m |
Actual Growth % |
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Gastrointestinal: | ||||||||||||||||||||||||
Nexium | 3,752 | 3,386 | 11 | 12 | 2,535 | 11 | ||||||||||||||||||
Losec/Prilosec | 1,024 | 1,241 | (17 | ) | (15 | ) | 156 | (18 | ) | |||||||||||||||
Others | 54 | 51 | 6 | 8 | 14 | 75 | ||||||||||||||||||
Total Gastrointestinal | 4,830 | 4,678 | 3 | 4 | 2,705 | 9 | ||||||||||||||||||
Cardiovascular: | ||||||||||||||||||||||||
Seloken/Toprol-XL | 1,407 | 1,280 | 10 | 10 | 1,105 | 17 | ||||||||||||||||||
Crestor | 1,403 | 915 | 53 | 53 | 792 | 50 | ||||||||||||||||||
Atacand | 809 | 727 | 11 | 12 | 192 | 7 | ||||||||||||||||||
Tenormin | 238 | 262 | (9 | ) | (6 | ) | 19 | 12 | ||||||||||||||||
Zestril | 229 | 248 | (8 | ) | (6 | ) | 21 | - | ||||||||||||||||
Plendil | 210 | 287 | (27 | ) | (26 | ) | 20 | (74 | ) | |||||||||||||||
Others | 213 | 235 | (9 | ) | (7 | ) | 2 | (33 | ) | |||||||||||||||
Total Cardiovascular | 4,509 | 3,954 | 14 | 15 | 2,151 | 23 | ||||||||||||||||||
Respiratory: | ||||||||||||||||||||||||
Pulmicort | 892 | 824 | 8 | 9 | 564 | 20 | ||||||||||||||||||
Symbicort | 861 | 742 | 16 | 19 | - | - | ||||||||||||||||||
Rhinocort | 270 | 295 | (8 | ) | (8 | ) | 189 | (12 | ) | |||||||||||||||
Oxis | 65 | 69 | (6 | ) | (5 | ) | - | - | ||||||||||||||||
Accolate | 59 | 55 | 7 | 7 | 42 | 20 | ||||||||||||||||||
Others | 105 | 115 | (9 | ) | (6 | ) | - | - | ||||||||||||||||
Total Respiratory | 2,252 | 2,100 | 7 | 9 | 795 | 11 | ||||||||||||||||||
Oncology: | ||||||||||||||||||||||||
Arimidex | 1,096 | 856 | 28 | 30 | 440 | 28 | ||||||||||||||||||
Casodex | 879 | 840 | 5 | 8 | 213 | 19 | ||||||||||||||||||
Zoladex | 736 | 752 | (2 | ) | 1 | 80 | (15 | ) | ||||||||||||||||
Iressa | 174 | 201 | (13 | ) | (10 | ) | 12 | (76 | ) | |||||||||||||||
Faslodex | 138 | 101 | 37 | 38 | 75 | 12 | ||||||||||||||||||
Nolvadex | 66 | 86 | (23 | ) | (18 | ) | 2 | (33 | ) | |||||||||||||||
Others | 16 | 8 | - | - | 8 | - | ||||||||||||||||||
Total Oncology | 3,105 | 2,844 | 9 | 12 | 830 | 13 | ||||||||||||||||||
Neuroscience: | ||||||||||||||||||||||||
Seroquel | 2,504 | 2,006 | 25 | 26 | 1,823 | 26 | ||||||||||||||||||
Local anaesthetics | 396 | 380 | 4 | 7 | 65 | 35 | ||||||||||||||||||
Zomig | 295 | 258 | 14 | 16 | 127 | 55 | ||||||||||||||||||
Diprivan | 225 | 281 | (20 | ) | (19 | ) | 63 | (44 | ) | |||||||||||||||
Others | 44 | 50 | (12 | ) | (10 | ) | 13 | - | ||||||||||||||||
Total Neuroscience | 3,464 | 2,975 | 16 | 17 | 2,091 | 23 | ||||||||||||||||||
Infection and Other: | ||||||||||||||||||||||||
Merrem | 437 | 375 | 17 | 18 | 84 | 38 | ||||||||||||||||||
Other Products | 190 | 262 | (27 | ) | (25 | ) | 97 | (37 | ) | |||||||||||||||
Total Infection and Other | 627 | 637 | (2 | ) | (1 | ) | 181 | (16 | ) | |||||||||||||||
Aptium Oncology | 276 | 247 | 12 | 12 | 276 | 12 | ||||||||||||||||||
Astra Tech | 258 | 229 | 13 | 16 | 30 | 43 | ||||||||||||||||||
Total | 19,321 | 17,664 | 9 | 11 | 9,059 | 15 | ||||||||||||||||||
18
7 | THIRD QUARTER PRODUCT SALES ANALYSIS |
World | US | |||||||||||||||||||||||
3rd Quarter 2006 $m |
3rd Quarter 2005 $m |
Actual Growth % |
Constant Currency Growth % |
3rd Quarter 2006 $m |
Actual Growth % |
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Gastrointestinal: | ||||||||||||||||||||||||
Nexium | 1,280 | 1,127 | 14 | 13 | 879 | 15 | ||||||||||||||||||
Losec/Prilosec | 324 | 376 | (14 | ) | (15 | ) | 56 | (5 | ) | |||||||||||||||
Others | 21 | 15 | 40 | 40 | 9 | - | ||||||||||||||||||
Total Gastrointestinal | 1,625 | 1,518 | 7 | 6 | 944 | 15 | ||||||||||||||||||
Cardiovascular: | ||||||||||||||||||||||||
Seloken/Toprol-XL | 473 | 437 | 8 | 7 | 373 | 12 | ||||||||||||||||||
Crestor | 536 | 325 | 65 | 62 | 301 | 59 | ||||||||||||||||||
Atacand | 279 | 238 | 17 | 13 | 70 | 23 | ||||||||||||||||||
Tenormin | 77 | 87 | (11 | ) | (11 | ) | 6 | (14 | ) | |||||||||||||||
Zestril | 76 | 83 | (8 | ) | (10 | ) | 8 | - | ||||||||||||||||
Plendil | 68 | 82 | (17 | ) | (18 | ) | 9 | (44 | ) | |||||||||||||||
Others | 70 | 75 | (7 | ) | (11 | ) | - | (100 | ) | |||||||||||||||
Total Cardiovascular | 1,579 | 1,327 | 19 | 17 | 767 | 27 | ||||||||||||||||||
Respiratory: | ||||||||||||||||||||||||
Pulmicort | 263 | 234 | 12 | 11 | 165 | 23 | ||||||||||||||||||
Symbicort | 276 | 240 | 15 | 11 | - | - | ||||||||||||||||||
Rhinocort | 83 | 91 | (9 | ) | (9 | ) | 58 | (12 | ) | |||||||||||||||
Oxis | 21 | 23 | (9 | ) | (13 | ) | - | - | ||||||||||||||||
Accolate | 20 | 14 | 43 | 43 | 15 | 88 | ||||||||||||||||||
Others | 33 | 34 | (3 | ) | (3 | ) | - | - | ||||||||||||||||
Total Respiratory | 696 | 636 | 9 | 7 | 238 | 14 | ||||||||||||||||||
Oncology: | ||||||||||||||||||||||||
Arimidex | 382 | 303 | 26 | 24 | 156 | 28 | ||||||||||||||||||
Casodex | 299 | 276 | 8 | 7 | 73 | 20 | ||||||||||||||||||
Zoladex | 255 | 258 | (1 | ) | (2 | ) | 28 | (15 | ) | |||||||||||||||
Iressa | 62 | 61 | 2 | 5 | 4 | (67 | ) | |||||||||||||||||
Faslodex | 47 | 37 | 27 | 24 | 24 | 4 | ||||||||||||||||||
Nolvadex | 21 | 26 | (19 | ) | (15 | ) | - | - | ||||||||||||||||
Others | 10 | 2 | - | - | 8 | - | ||||||||||||||||||
Total Oncology | 1,076 | 963 | 12 | 11 | 293 | 17 | ||||||||||||||||||
Neuroscience: | ||||||||||||||||||||||||
Seroquel | 848 | 706 | 20 | 19 | 613 | 19 | ||||||||||||||||||
Local anaesthetics | 124 | 118 | 5 | 3 | 16 | (6 | ) | |||||||||||||||||
Zomig | 99 | 86 | 15 | 13 | 41 | 52 | ||||||||||||||||||
Diprivan | 64 | 76 | (16 | ) | (17 | ) | 12 | (54 | ) | |||||||||||||||
Others | 15 | 15 | - | - | 5 | 67 | ||||||||||||||||||
Total Neuroscience | 1,150 | 1,001 | 15 | 14 | 687 | 16 | ||||||||||||||||||
Infection and Other: | ||||||||||||||||||||||||
Merrem | 153 | 117 | 31 | 28 | 33 | 154 | ||||||||||||||||||
Other Products | 57 | 73 | (22 | ) | (26 | ) | 32 | (24 | ) | |||||||||||||||
Total Infection and Other | 210 | 190 | 11 | 7 | 65 | 18 | ||||||||||||||||||
Aptium Oncology | 95 | 82 | 16 | 16 | 95 | 16 | ||||||||||||||||||
Astra Tech | 85 | 72 | 18 | 14 | 11 | 57 | ||||||||||||||||||
Total | 6,516 | 5,789 | 13 | 11 | 3,100 | 18 | ||||||||||||||||||
19
Shareholder Information | ||
ANNOUNCEMENTS AND MEETINGS | ||
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|
Announcement of fourth quarter and full year 2006 results | 1 February 2007 | |
Announcement of first quarter 2007 results | 26 April 2007 | |
Annual General Meeting | 26 April 2007 | |
Announcement of second quarter and half year 2007 results | 26 July 2007 | |
Announcement of third quarter and nine months 2007 results | 1 November 2007 |
DIVIDENDS |
|
The record date for the first interim dividend paid on 18 September 2006 (in the UK, Sweden and the US) was 11 August 2006. Ordinary shares traded ex-dividend on the London and Stockholm Stock Exchanges from 9 August 2006. ADRs traded ex-dividend on the New York Stock Exchange from the same date.
The record date for the second interim dividend for 2006 payable on 19 March 2007 (in the UK, Sweden and the US) will be 9 February 2007. Ordinary shares will trade ex-dividend on the London and Stockholm Stock Exchanges from 7 February 2007. ADRs will trade ex-dividend on the New York Stock Exchange from the same date.
Future dividends will normally be paid as follows: | ||
First interim | Announced in July and paid in September | |
Second interim | Announced in January/February and paid in March |
TRADEMARKS |
|
The following brand names used in these interim financial statements are trademarks of the AstraZeneca Group of companies:
Accolate Arimidex Astra Tech Atacand Casodex Crestor Diprivan Faslodex Iressa Losec Losec MUPS Merrem Nexium Nolvadex Oxis Plendil Prilosec Pulmicort Pulmicort Respules Rhinocort Rhinocort Aqua Seloken Seroquel Seroquel SR Symbicort Symbicort SMART Tenormin Toprol-XL Zestril Zoladex Zomig
ADDRESSES FOR CORRESPONDENCE |
Registrar and | Depositary | Registered Office | Swedish Securities |
Transfer Office | for ADRs | Registration Centre | |
The AstraZeneca Registrar | JPMorgan Chase Bank | 15 Stanhope Gate | VPC AB |
Lloyds TSB Registrars | JPMorgan Service Center | London | PO Box 7822 |
The Causeway | PO Box 3408 | W1K 1LN | SE-103 97 Stockholm |
Worthing | South Hackensack | UK | Sweden |
West Sussex | NJ 07606-3408 | ||
BN99 6DA | US | ||
UK | Tel: +44 (0)20 7304 5000 | Tel: +46 (0)8 402 9000 | |
Tel (freephone in UK): | Tel (toll free in US): | ||
0800 389 1580 | 888 697 8018 | ||
Tel (outside UK): | Tel: +(201) 680 66301 | ||
+44 (0)121 415 7033 |
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS |
|
In order to utilise the safe harbour provisions of the US Private Securities Litigation Reform Act 1995, we are providing the following cautionary statement: These interim financial statements contain certain forward-looking statements about AstraZeneca. Although we believe our expectations are based on reasonable assumptions, any forward-looking statements may be influenced by factors that could cause actual outcomes and results to be materially different from those predicted. We identify the forward-looking statements by using the words anticipates, believes, expects, intends and similar expressions in such statements. These forward-looking statements are subject to numerous risks and uncertainties. Important factors that could cause actual results to differ materially from those contained in forward-looking statements, certain of which are beyond control, 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; the risk of failure to observe ongoing regulatory oversight; the risk that new products do not perform as we expect; and the risk of environmental liabilities.
20
Item 25
REPURCHASE OF SHARES IN ASTRAZENECA PLC
Further to the announcement of its close period share repurchase programme, AstraZeneca PLC announced that under the terms of that programme it purchased for cancellation 398,464 ordinary shares of AstraZeneca PLC at a price of 3300 pence per share on 26 October 2006. Upon the cancellation of these shares, the number of shares in issue will be 1,544,016,811.
G H R Musker
Company Secretary
27 October 2006
Item 26
ASTRAZENECA PLC IRREVOCABLE, NON-DISCRETIONARY SHARE REPURCHASE PROGRAMME
AstraZeneca PLC today announced that it will commence an irrevocable, non-discretionary programme with Barclays Bank PLC to purchase ordinary shares on its own behalf during the period 1 November 2006 to 30 November 2006.
Any purchases will be effected within certain pre-set parameters and in accordance with both AstraZeneca PLCs general authority to repurchase shares and the Listing Rules.
G H R Musker
Company Secretary
27 October 2006
Item 27
Companies Act 1985 Section 198
Disclosure of Interest in Voting Shares in Public Companies
On 30 October 2006 we were informed by Wellington Management Company, LLP, a registered investment advisor in the U.S., that on 30 October 2006 its interest in the USD0.25 Ordinary Shares of AstraZeneca PLC had decreased to 60,565,299 shares (3.92 per cent of the current issued ordinary capital) from the previously notified level of 78,671,049 shares (4.98 per cent of the issued ordinary capital at that time).
G H R Musker
Company Secretary
30 October 2006