• Key Points:

• AstraZeneca announces robust financial performance for the full year and fourth quarter of 2023, marked by strong revenue growth and significant advancements in its pipeline.

• Total revenue for FY 2023 reached $45,811 million, representing a 6% increase, despite a $3,736 million decline attributed to COVID-19 medicines. Excluding COVID-19 medicines, total revenue surged by 15%, with product sales seeing a 14% increase.

• Oncology, CVRM (Cardiovascular, Renal, and Metabolism), R&I (Respiratory and Immunology), and Rare Disease segments all witnessed double-digit revenue growth, contributing to the company's overall success.

• Core Product Sales Gross Margin stood at 82%, reflecting a two-percentage-point increase, primarily due to the decline in sales of lower-margin COVID-19 medicines.

• Core Operating Margin increased to 32%, also by two percentage points, driven by a gain from updates to contractual relationships, notably for Beyfortus.

• Core EPS rose by 15% to $7.26, indicating substantial earnings growth for the year.

• A second interim dividend of $1.97 per share was declared, resulting in a total dividend declared for FY 2023 of $2.90 per share.

• AstraZeneca anticipates continued growth in FY 2024, with both Total Revenue and Core EPS expected to increase by a low double-digit to low teens percentage at CER (Constant Exchange Rate).

• CEO Pascal Soriot expressed satisfaction with the company's performance, highlighting significant scientific progress and double-digit earnings growth. He emphasized continued investment in innovative areas of science, such as antibody drug conjugates and cell therapies, to ensure long-term success.

Milestones and Guidance:

• AstraZeneca achieved several key milestones since the previous results announcement, including the approval of three new molecular entities: Truqap, Wainua, and Voydeya. Notable approvals include Truqap plus Faslodex in HR-positive, HER2-negative advanced breast cancer and Wainua for ATTRv-PN.

• Enhertu was granted Priority Review in the US for patients with metastatic HER2-positive solid tumors, indicating progress in oncology therapeutics.

• The company issues guidance for FY 2024, expecting continued growth in Total Revenue and Core EPS at Constant Exchange Rates, based on average foreign exchange rates through 2023.

AstraZeneca's strong financial results and pipeline momentum underscore its commitment to innovation and delivering value to patients worldwide.