The latest trading session saw Astrazeneca (AZN) ending at $69.18, denoting a -0.56% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.07%.Heading into today, shares of the pharmaceutical had gained 5.57% over the past month, lagging the Medical sector's gain of 7.37% and outpacing the S&P 500's gain of 3.98% in that time.The investment community will be closely monitoring the performance of Astrazeneca in its forthcoming earnings report. In that report, ...

Key PointsAstraZeneca gained 8.95% in the past month, fueled by optimism about its 2024 earnings outlook.Rising sales of cancer and diabetes drugs are key contributors to AstraZeneca's positive performance.The company announced an acquisition in the area of cell therapies and also has a licensing deal with a company developing weight-loss treatments. 5 stocks we like better than AstraZenecaU.K.-based AstraZeneca PLC NASDAQ: AZN is up 8.95% in the past month as investors grow optimistic about the company's i ...

Astrazeneca (AZN) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this pharmaceutical have returned +9%, compared to the Zacks S&P 500 composite's +3.5% change. During this period, the Zacks Large Cap Pharmaceuticals industry, which Astrazeneca falls in, has gained 8%. The key question now is: What could be the stock's future directio ...

LONDON & BUDAPEST, Hungary--(BUSINESS WIRE)--Turbine, a leading biological simulation company building a platform for interpreting human biology in silico, today announced it has entered into a collaboration with AstraZeneca (LSE/STO/Nasdaq: AZN), a global biopharmaceutical company. Turbine will use its proprietary Simulated Cell™ platform to identify and understand mechanisms of resistance to therapy in hematological cancers. The collaboration will focus on understanding resistance mechanisms resulting fro ...

9M and Q3 2023 Results Conference call and webcast for investors and analysts Forward-looking statements Inorder,amongotherthings,to utilisethe'safeharbour' provisionsoftheUSPrivate SecuritiesLitigationReform Act of 1995, AstraZeneca (hereafter ...

AstraZeneca PLC (NASDAQ:AZN) Q3 2023 Earnings Conference Call November 9, 2023 9:00 AM ET Corporate Participants Andy Barnett - Head, Investor Relations Pascal Soriot - Chief Executive Officer Aradhana Sarin - Chief Financial Officer David Fredrickson - EVP, Oncology Business Susan Galbraith - EVP, Oncology R&D Ruud Dobber - EVP, BioPharmaceuticals Business Sharon Barr - EVP, BioPharmaceuticals R&D Marc Dunoyer - Chief Executive Officer, Alexion Conference Call Participants Steve Scala - Cowen Gonzalo Artia ...

Financial Performance - Total Revenue for Q3 2023 reached $11,492 million, a 5% increase year-over-year, with a 12% increase excluding COVID-19 medicines[5] - Core EPS for Q3 2023 was $1.73, reflecting a 4% increase compared to the previous year[5] - Total Revenue for the first nine months of 2023 was $33,787 million, up 2%, with a 12% increase excluding COVID-19 medicines[5] - Total revenue and product sales performance details are available in the financial performance section[47] - Total revenue for the company reached $33,787 million, reflecting a 2% increase compared to the previous year[49] - Total revenue for 9M 2023 reached $33,787 million, a 2% increase compared to the previous year, with a 5% increase at constant exchange rates (CER) [53] - Total revenue for the nine months ended September 30, 2023, was $33,787 million, a 1.9% increase from $33,144 million in 2022[155] - Total product sales reached $32,466 million, up from $32,200 million, while alliance revenue increased significantly to $1,004 million from $504 million[155] - Total product sales amounted to $11,018 million, representing a 4% increase overall[192] Revenue Growth by Segment - Oncology medicines saw a 20% increase in revenue, while Cardiovascular, Renal & Metabolism (CVRM) and Rare Disease segments grew by 19% and 12%, respectively[5] - Oncology product sales amounted to $12,692 million, representing 38% of total sales with a 17% year-over-year growth[48] - The sales of Farxiga in the CVRM segment increased by 36% to $4,358 million, contributing 13% to total sales[48] - Rare Disease segment generated $5,793 million in sales, showing an 11% increase year-over-year[48] - Alliance revenue surged by 99% to $1,004 million, with significant contributions from Enhertu and Tezspire[50] - The company anticipates continued growth in oncology and rare disease markets, driven by new product launches and market expansion strategies[48] - Oncology revenue totaled $13,458 million in 9M 2023, a 17% increase (20% at CER), contributing 40% to overall revenue [56] - Tagrisso revenue was $4,380 million in 9M 2023, a 7% increase, with a 10% increase at CER, driven by demand in adjuvant and first-line settings [57] - Imfinzi and Imjudo generated $3,102 million in 9M 2023, a 53% increase, with a 56% increase at CER, supported by growth in established indications [58] - Enhertu sales reached $1,844 million in 9M 2023, significantly up from $750 million in the previous year, with AstraZeneca's share being $919 million [62] - Calquence revenue was $1,839 million, a 25% increase, with a 26% increase at CER, reflecting increased global penetration [65] - Farxiga revenue reached $919 million, more than doubling, driven by heart failure and chronic kidney disease markets [64] Expenses and Profitability - Reported SG&A expenses increased by 12% to $4,800 million, impacted by legal provisions including a $425 million charge related to a legal settlement[27] - Operating margin increased to 17%, up 6 percentage points (pp) year-over-year, with a 31% actual margin for the previous period[30] - Net finance expense decreased by 9% to $291 million, with a 12% reduction in the previous period[32] - Earnings per share (EPS) reported at $0.89, a decline of 16% year-over-year, while the previous period's EPS was $1.73, reflecting a 4% increase[33] - Gross profit for 9M 2023 was $27,827 million, an 18% increase compared to $23,653 million in 9M 2022[100] - Operating profit for 9M 2023 was $6,959 million, more than double the $2,663 million reported in 9M 2022[100] - Earnings per share (EPS) increased to $3.22 in 9M 2023, compared to $1.54 in 9M 2022[100] - Product Sales Gross Margin improved to 81.6% in 9M 2023, up from 70.5% in 9M 2022[100] Research and Development - The company initiated several Phase III trials for new high-potential molecules, including a bispecific antibody for cancer treatment[6] - Research and development (R&D) expenses were $7,862 million, representing 23.3% of total revenue[100] - R&D expenses totaled $2,584 million, with a core R&D expense of $2,485 million, indicating a 5% increase year-over-year[103] Collaborations and Acquisitions - AstraZeneca announced a multi-target collaboration with Verge Genomics, with a total consideration of up to $42 million for drug target identification[38] - The company completed a purchase agreement for preclinical rare disease gene therapy programs from Pfizer, totaling up to $1 billion[38] - AstraZeneca's collaboration with Cellectis includes an initial payment of $105 million and potential milestone payments ranging from $70 million to $220 million per candidate product[40] - An exclusive license agreement with Eccogene for ECC5004 includes an upfront payment of $185 million and up to $1.825 billion in future milestones[41] - The company expects to invest $105 million in Cellectis, including an $80 million equity investment[187] - AstraZeneca completed the acquisition of Neogene Therapeutics for a total consideration of $267 million, recognizing $100 million in intangible assets and $158 million in goodwill[168] - The acquisition of CinCor was completed for $1,268 million, including $780 million in intangible assets and contingent consideration of up to $496 million based on regulatory milestones[168] Legal and Regulatory Matters - The company is involved in ongoing litigation regarding the Inflation Reduction Act, filed in August 2023[186] - AstraZeneca resolved all pending claims in the multidistrict litigation for $425 million in October 2023[183] - The company is facing various lawsuits related to its products, including claims of physical injuries from Farxiga and Xigduo XR[184] Sustainability and Corporate Responsibility - The company entered long-term renewable energy partnerships in the UK and Sweden to support sustainability efforts[42] - AstraZeneca has committed to purchasing 200 gigawatt-hours of renewable electricity per year for 10 years in Sweden, covering approximately 80% of total electricity needs at its Gothenburg and Södertälje sites[122] - The Company was ranked first for climate action in a STAT Report, highlighting its leadership in measuring and reporting climate impacts[122] - AstraZeneca received the EcoVadis Gold Medal for 2023, improving from a Silver rating in 2022, with advanced ratings in Environment and Human Rights categories[122] Future Outlook - The company expects FY 2023 Total Revenue excluding COVID-19 medicines to increase by a low-teens percentage at constant exchange rates (CER)[5] - Core EPS guidance for FY 2023 has been raised to a low double-digit to low-teens percentage increase at CER[8] - The company anticipates announcing full year and fourth quarter 2023 results on February 8, 2024[195] - The Group anticipates new revenue streams from recently launched medicines and those in development, despite potential government price interventions affecting revenues[165] - Overall, the company provided a positive outlook for future growth, emphasizing ongoing investments in new product development and market expansion strategies[191]

AstraZeneca PLC (NASDAQ:AZN) Q2 2023 Earnings Conference Call July 28, 2023 6:45 AM ET Company Participants Andy Barnett - Head, Investor Relations Pascal Soriot - Chief Executive Officer Aradhana Sarin - Chief Financial Officer David Fredrickson - Executive Vice-President, Oncology Business Unit Susan Galbraith - Executive Vice President, Oncology Research & Development Ruud Dobber - EVP of BioPharmaceuticals Business Unit Mene Pangalos - Executive Vice-President, BioPharmaceuticals R&D Marc Dunoyer - Chie ...

H1 and Q2 2023 Results Conference call and webcast for investors and analysts Forward-looking statements In order, among other things, to utilise the 'safe harbour' provisions of the US Private Securities Litigation Reform Act of 1995, AstraZene ...

[Performance Overview](index=2&type=section&id=H1%20and%20Q2%202023%20results) [Financial Performance Summary](index=2&type=section&id=Financial%20performance) H1 2023 total revenue grew 4% to **$22.295 billion** (CER), with Core EPS up 21% to **$4.07**, driven by non-COVID-19 therapeutic areas | Metric | H1 2023 | YoY Change (CER) | Q2 2023 | YoY Change (CER) | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | $22.295 billion | +4% | $11.416 billion | +9% | | **Total Revenue (excluding COVID-19 medicines)** | $21.961 billion | +16% | $11.237 billion | +17% | | **Reported EPS** | $2.34 | >6 times | $1.17 | >9 times | | **Core EPS** | $4.07 | +21% | $2.15 | +38% | - All non-COVID-19 therapeutic areas achieved double-digit revenue growth: Oncology grew 22%, Cardiovascular, Renal & Metabolism (CVRM) grew 20%, Respiratory & Immunology (R&I) grew 10%, and Rare Disease grew 12%[4](index=4&type=chunk) - Core product sales gross margin increased by three percentage points to **83%**, primarily due to decreased sales of lower-margin COVID-19 medicines and a continued shift in product mix towards specialty medicines[4](index=4&type=chunk) - Eight medicines generated over **$1 billion** in revenue in H1, with Ultomiris, Imfinzi/Imjudo, and Farxiga revenues growing 64%, 57%, and 40% respectively[5](index=5&type=chunk) [Full-Year Guidance](index=3&type=section&id=Guidance) The company reaffirms FY2023 guidance for total revenue and Core EPS growth, with an upward revision for China revenue growth, excluding COVID-19 medicines | Guidance Item | FY2023 Outlook (CER) | | :--- | :--- | | **Total Revenue Growth** | Low to mid-single-digit percentage | | **Total Revenue Growth (excluding COVID-19 medicines)** | Low double-digit percentage | | **Core EPS Growth** | High single-digit to low double-digit percentage | | **China Total Revenue Growth** | Low to mid-single-digit percentage (previously low single-digit) | | **Core Operating Expense Growth** | Low to mid-single-digit percentage | - Total revenue from COVID-19 medicines (Vaxzevria and COVID-19 mAbs) is expected to decline significantly in FY2023[7](index=7&type=chunk) - Assuming average exchange rates from June 2023, total revenue is expected to be adversely impacted by a low single-digit percentage, and Core EPS by a low to mid-single-digit percentage in FY2023[7](index=7&type=chunk) [Key Milestones and Sustainability](index=2&type=section&id=Key%20milestones) The company achieved significant R&D and regulatory milestones, including positive trial data for datopotamab deruxtecan and key approvals for Lynparza and Farxiga, while committing an additional **$400 million** to the AZ Forest program - Positive R&D pipeline progress includes key trial results for datopotamab deruxtecan (TROPION-Lung01), Tagrisso (FLAURA2), and Lynparza + Imfinzi (DUO-E)[5](index=5&type=chunk)[10](index=10&type=chunk) - Multiple important regulatory approvals were secured, such as Lynparza in the US for BRCA-mutated prostate cancer, Farxiga in the US for heart failure with preserved ejection fraction, and Enhertu in China for HER2-low breast cancer[6](index=6&type=chunk)[10](index=10&type=chunk) - As part of its "Ambition Zero Carbon" sustainability plan, the company announced a **$400 million** investment in the AZ Forest program, committing to plant **200 million** trees by 2030[5](index=5&type=chunk)[17](index=17&type=chunk) [Operating and Financial Review](index=11&type=section&id=Operating%20and%20financial%20review) [Total Revenue Analysis](index=13&type=section&id=Total%20Revenue) H1 2023 total revenue reached **$22.295 billion**, growing 4% (CER), with Oncology, Rare Disease, and CVRM as key drivers, and strong performance in the US and Emerging Markets | Revenue Type (H1 2023) | Amount (billion USD) | Share | YoY Change (CER) | | :--- | :--- | :--- | :--- | | **Product Sales** | $21.448 | 96% | +3% | | **Alliance Revenue** | $0.627 | 3% | >2 times | | **Collaboration Revenue** | $0.220 | 1% | -15% | | **Total Revenue** | **$22.295** | **100%** | **+4%** | | Therapeutic Area (H1 2023) | Amount (billion USD) | Share | YoY Change (CER) | | :--- | :--- | :--- | :--- | | **Oncology** | $8.794 | 39% | +22% | | **BioPharmaceuticals** | $9.051 | 41% | -9% | | - CVRM | $5.239 | 24% | +20% | | - R&I | $3.180 | 14% | +10% | | - V&I | $0.632 | 3% | -76% | | **Rare Disease** | $3.819 | 17% | +12% | | **Other Medicines** | $0.631 | 3% | -22% | | Region (H1 2023, excluding COVID-19 medicines) | Amount (billion USD) | Share | YoY Change (CER) | | :--- | :--- | :--- | :--- | | **US** | $9.081 | 41% | +16% | | **Emerging Markets** | $6.074 | 28% | +22% | | - China | $3.043 | 14% | +9% | | - Emerging Markets (excluding China) | $3.031 | 14% | +38% | | **Europe** | $4.356 | 20% | +13% | | **Established Rest of World** | $2.450 | 11% | +8% | [Oncology Business](index=15&type=section&id=Oncology) H1 2023 Oncology revenue grew 22% (CER) to **$8.794 billion**, driven by strong performance of Imfinzi, Enhertu, and Calquence, with Tagrisso maintaining steady growth | Key Oncology Medicine (H1 2023) | Total Revenue (billion USD) | YoY Change (CER) | Key Drivers | | :--- | :--- | :--- | :--- | | **Tagrisso** | $2.915 | +12% | Increased global demand in adjuvant and first-line settings | | **Imfinzi** | $1.976 | +57% | Successful launches in new indications like hepatocellular carcinoma (HCC) and biliary tract cancer (BTC) | | **Lynparza** | $1.368 | -4% | Impacted by a $175 million milestone payment in the prior year, product sales grew 10% | | **Enhertu (Alliance Revenue)** | $0.475 | >2 times | Rapid adoption as a new standard of care in indications like HER2-low breast cancer | | **Calquence** | $1.185 | +33% | Increased global penetration, becoming a leading BTK inhibitor in key markets | [BioPharmaceuticals Business](index=18&type=section&id=BioPharmaceuticals) H1 2023 BioPharmaceuticals revenue decreased 9% (CER) to **$9.051 billion**, primarily due to a significant reduction in COVID-19 medicine sales, while CVRM and R&I showed robust growth [Cardiovascular, Renal & Metabolism (CVRM)](index=18&type=section&id=BioPharmaceuticals%20%E2%80%93%20CVRM) CVRM business H1 revenue reached **$5.239 billion**, growing 20% (CER), with Farxiga as the main growth engine due to strong demand in heart failure and chronic kidney disease indications | CVRM Key Medicine (H1 2023) | Total Revenue (billion USD) | YoY Change (CER) | | :--- | :--- | :--- | | **Farxiga** | $2.834 | +40% | | **Brilinta** | $0.665 | +1% | | **Lokelma** | $0.198 | +59% | | **Roxadustat** | $0.137 | +57% | [Respiratory & Immunology (R&I)](index=20&type=section&id=BioPharmaceuticals%20%E2%80%93%20R%26I) R&I business H1 revenue was **$3.180 billion**, growing 10% (CER), driven by new products like Fasenra, Breztri, Saphnelo, and Tezspire, with Symbicort showing stable performance | R&I Key Medicine (H1 2023) | Total Revenue (billion USD) | YoY Change (CER) | | :--- | :--- | :--- | | **Symbicort** | $1.288 | +4% | | **Fasenra** | $0.744 | +14% | | **Breztri** | $0.307 | +76% | | **Saphnelo** | $0.115 | >3 times | | **Tezspire (Alliance Revenue)** | $0.105 | >6 times | [Vaccines & Immune Therapies (V&I)](index=22&type=section&id=BioPharmaceuticals%20%E2%80%93%20V%26I) H1 2023 V&I revenue significantly declined 76% (CER) to **$632 million**, mainly due to the conclusion of COVID-19 vaccine contracts and reduced demand for COVID-19 antibodies - Total revenue from COVID-19 monoclonal antibodies (mAbs) was **$306 million**, a 65% decrease (CER) year-on-year, with all product sales from Evusheld in Q1, and a **$180 million** license fee from Serum Institute of India (SII) in Q2[57](index=57&type=chunk) - COVID-19 vaccine (Vaxzevria) revenue was **$28 million**, a 98% decrease (CER) year-on-year due to contract conclusion[57](index=57&type=chunk) [Rare Disease Business](index=23&type=section&id=Rare%20Disease) H1 2023 Rare Disease revenue grew 12% (CER) to **$3.819 billion**, driven by C5 inhibitor products and strong patient demand for Strensiq, with Ultomiris showing significant growth | Rare Disease Key Medicine (H1 2023) | Total Revenue (billion USD) | YoY Change (CER) | Key Drivers | | :--- | :--- | :--- | :--- | | **Ultomiris** | $1.364 | +64% | Expansion in neurological indications and new markets, and continued conversion from Soliris | | **Soliris** | $1.648 | -16% | Impacted by successful conversion to Ultomiris | | **Strensiq** | $0.562 | +26% | Strong patient demand and geographical expansion | | **Koselugo** | $0.159 | +57% | Expansion in new markets | [Financial Performance Analysis](index=25&type=section&id=Financial%20performance) [Profit and Loss Analysis](index=25&type=section&id=Profit%20and%20Loss) H1 2023 reported operating profit significantly increased to **$5.005 billion**, with gross margin improving due to reduced low-margin COVID-19 products and a **$712 million** Beyfortus contract gain | P&L Item (H1 2023) | Amount (billion USD) | YoY Change (CER) | | :--- | :--- | :--- | | **Total Revenue** | $22.295 | +4% | | **Gross Profit** | $18.430 | +24% | | **Product Sales Gross Margin** | 82.0% | +13 percentage points | | **R&D Expenses** | $5.278 | +16% | | **SG&A Expenses** | $9.045 | -2% | | **Other Operating Income** | $1.163 | >5 times | | **Operating Profit** | $5.005 | >4 times | | **Profit Before Tax** | $4.350 | >6 times | | **Net Profit** | $3.624 | >6 times | - Gross margin improvement was driven by an increased proportion of high-margin Oncology and Rare Disease medicines, and a significant decline in low-margin Vaxzevria sales[68](index=68&type=chunk) - Other operating income includes a **$712 million** gain from an updated contractual relationship for Beyfortus[71](index=71&type=chunk) - Reported SG&A expenses were impacted by a **$510 million** provision related to legal settlements with Bristol Myers Squibb (BMS) and Ono[70](index=70&type=chunk) [Cash Flow and Net Debt](index=30&type=section&id=Cash%20Flow%20and%20Net%20Debt) H1 2023 net cash from operating activities was **$4.851 billion**, while net debt increased to **$23.970 billion** due to intangible asset acquisitions and dividend payments | Cash Flow Statement Item (H1 2023) | Amount (billion USD) | | :--- | :--- | | **Net cash generated from operating activities** | $4.851 | | **Net cash used in investing activities** | ($1.766) | | **Net cash used in financing activities** | ($3.550) | - Increased cash outflow from investing activities was primarily due to intangible asset purchases, including the acquisition of CinCor for **$1.436 billion**[76](index=76&type=chunk) | Net Debt Composition | June 30, 2023 (billion USD) | December 31, 2022 (billion USD) | | :--- | :--- | :--- | | **Cash and Investments** | $5.812 | $6.405 | | **Total Debt** | ($29.838) | ($29.232) | | **Net Derivative Financial Instruments** | $0.056 | ($0.096) | | **Net Debt** | **($23.970)** | **($22.923)** | [Principal Risks and Uncertainties](index=33&type=section&id=Principal%20risks%20and%20uncertainties) The company's principal risks remain consistent with the 2022 annual report, covering product pipeline, commercialization, supply chain, legal compliance, and macroeconomic factors - **Product Pipeline Risk**: Failure or delay in new drug development or launch; failure to meet regulatory or ethical requirements[92](index=92&type=chunk) - **Commercialization Risk**: Pricing, affordability, market access, and competitive pressures; failure or delay in commercial strategy execution[92](index=92&type=chunk) - **Supply Chain and Execution Risk**: Failure to maintain compliant, high-quality medicine supply; IT or cybersecurity failures; failure to attract and retain talent[93](index=93&type=chunk) - **Legal and Compliance Risk**: Safety or efficacy of marketed medicines questioned; adverse outcomes from litigation or government investigations; product-related intellectual property risks[93](index=93&type=chunk) - **Economic and Financial Risk**: Failure to achieve strategic plans or targets; geopolitical and macroeconomic volatility disrupting global operations[93](index=93&type=chunk) [Sustainability](index=34&type=section&id=Sustainability) [Sustainability Summary](index=34&type=section&id=Sustainability%20Summary) The company made significant progress in sustainability, focusing on healthcare access, environmental protection, and ethics, including expanding health programs and investing **$400 million** in the AZ Forest project - **Healthcare Access**: The "Healthy Heart Africa" (HHA) program has conducted over **38.5 million** blood pressure screenings since its 2014 launch, and the "Young Health Programme" (YHP) has educated over **10 million** young people on non-communicable disease risks[94](index=94&type=chunk) - **Environmental Protection**: Announced expansion of the AZ Forest program with an increased investment of **$400 million**, aiming to plant **200 million** trees by 2030, and partnered with Vanguard Renewables to decarbonize all US R&D and manufacturing sites by end of 2026 using renewable natural gas[95](index=95&type=chunk) - **Ethics and Transparency**: Hosted internal discussions on clinical trial diversity and conducted employee events like "World Day for Cultural Diversity" and "Pride Month" to foster cultural intelligence and inclusivity[97](index=97&type=chunk) [Research and Development Progress](index=36&type=section&id=Research%20and%20development) [R&D Highlights](index=36&type=section&id=R%26D%20Highlights) R&D pipeline achieved major breakthroughs, including positive trial results for datopotamab deruxtecan and Tagrisso, and key US approvals for Farxiga and Beyfortus, while some projects were terminated - **Datopotamab deruxtecan (Dato-DXd)**: The TROPION-Lung01 Phase III trial met one of its dual primary endpoints, showing statistically significant improvement in progression-free survival (PFS) compared to docetaxel in previously treated advanced NSCLC patients[106](index=106&type=chunk) - **Tagrisso**: The FLAURA2 Phase III trial met its primary endpoint, demonstrating significantly improved PFS for advanced EGFRm NSCLC patients when Tagrisso is combined with chemotherapy compared to monotherapy[101](index=101&type=chunk) - **Farxiga**: Approved in the US to reduce the risk of cardiovascular death, hospitalization for heart failure, and urgent heart failure visits in adult heart failure patients, regardless of left ventricular ejection fraction[107](index=107&type=chunk) - **Beyfortus**: Approved in the US for the prevention of respiratory syncytial virus (RSV) lower respiratory tract disease in neonates and infants during their first RSV season[113](index=113&type=chunk) - **Project Terminations**: Clinical development of brazikumab in inflammatory bowel disease (IBD) was terminated, as was the Phase III trial of Fasenra in bullous pemphigoid due to futility[110](index=110&type=chunk)[111](index=111&type=chunk) [Interim Financial Statements](index=42&type=section&id=Interim%20Financial%20Statements) [Financial Statements](index=42&type=section&id=Financial%20Statements) This section presents the unaudited condensed consolidated interim financial statements for H1 2023, prepared in accordance with IAS 34 | Statement Name | Corresponding Table | Page Number | | :--- | :--- | :--- | | Condensed Consolidated Statement of Comprehensive Income (H1 2023) | Table 20 | 42 | | Condensed Consolidated Statement of Comprehensive Income (Q2 2023) | Table 21 | 43 | | Condensed Consolidated Statement of Financial Position | Table 22 | 44 | | Condensed Consolidated Statement of Changes in Equity | Table 23 | 45 | | Condensed Consolidated Statement of Cash Flows | Table 24 | 46 | [Notes to the Interim Financial Statements](index=50&type=section&id=Notes%20to%20the%20Interim%20Financial%20Statements) [Note 1: Basis of preparation and accounting policies](index=50&type=section&id=Note%201%3A%20Basis%20of%20preparation%20and%20accounting%20policies) Financial statements are prepared under IAS 34, with updated revenue presentation from January 1, 2023, now separately reporting Alliance Revenue to reflect recurring profit-sharing - Effective January 1, 2023, total revenue is disaggregated into Product Sales, Alliance Revenue, and Collaboration Revenue, with Alliance Revenue primarily comprising profit shares, revenue shares, or royalties related to sales with partners[137](index=137&type=chunk) - The Board continues to prepare financial statements on a going concern basis, as the company has sufficient financial resources, including **$5.7 billion** in cash and **$6.9 billion** in undrawn committed bank facilities[139](index=139&type=chunk)[140](index=140&type=chunk) [Note 6: Legal proceedings and contingent liabilities](index=55&type=section&id=Note%206%3A%20Legal%20proceedings%20and%20contingent%20liabilities) The company updated on significant legal proceedings, including a global settlement with BMS and Ono for Imfinzi/Imjudo patents, with a **$510 million** provision, and ongoing product liability lawsuits for Onglyza and Nexium - **Imfinzi and Imjudo Patent Litigation**: The company reached a global settlement agreement with BMS and Ono in July 2023, resolving all related patent disputes, and a **$510 million** provision was recognized[162](index=162&type=chunk) - **Onglyza Product Liability Litigation**: In the US, lawsuits regarding Onglyza and Kombiglyze causing heart failure are ongoing, with a federal court's summary judgment in AstraZeneca's favor currently under appeal by plaintiffs[165](index=165&type=chunk)[178](index=178&type=chunk) - **Nexium and Prilosec Product Liability Litigation**: In the US, the company continues to face numerous lawsuits alleging proton pump inhibitors (PPIs) cause kidney injury and gastric cancer, with the first bellwether trial scheduled for October 2023[176](index=176&type=chunk) [Note 7: Subsequent events](index=60&type=section&id=Note%207%3A%20Subsequent%20events) Post-period, Alexion agreed to acquire and license Pfizer's early-stage rare disease gene therapy portfolio for up to **$1 billion** plus tiered sales royalties - In July 2023, Alexion reached an agreement with Pfizer to acquire its early-stage rare disease gene therapy portfolio for up to **$1 billion** plus tiered sales royalties, with the transaction expected to close in Q3 2023[187](index=187&type=chunk)