Kvartalsrapport Q1 2026

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Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
 
1 
 
 
 
 
29 April 2026 
AstraZeneca results: Q1 2026 
 Strong revenue growth and positive readouts from high-value NMEs reinforce confidence in 2030 ambition  
Revenue and EPS summary 
 Q1 2026          % Change   
 $m  Actual  CER1    
 - Product Sales 14,386  12  7     
 - Alliance Revenue 825  29  26     
Product Revenue 15,211  13  8     
Collaboration Revenue 77  4  -     
Total Revenue 15,288  13  8     
Reported EPS ($) 1.99  6  8     
Core2 EPS ($) 2.58  4  5     
 
Key performance elements for Q1 2026 
 (Growth numbers at constant exchange rates) 
 Total Revenue up 8% to $15,288m, driven by 
double-digit growth in Oncology and Rare Disease 
 Core Operating profit increased 12% 
 Core EPS growth of 5%, reflecting the favourable tax 
rate in the prior year period 
 Core Tax rate of 21%. Expectations for full year Core Tax 
rate are unchanged at 18-22% 
 Positive readouts for four high-value Phase III 
programmes since Q4 2025 results, including for two 
NMEs: tozorakimab and efzimfotase alfa  
 14 approvals in major regions since Q4 2025 results
 
Pascal Soriot, Chief Executive Officer, AstraZeneca, said: 
“We delivered strong growth in Q1 2026, with Total Revenue above 
$15 billion, demonstrating our consistent commercial execution. We 
are advancing through our catalyst‑rich period, with positive 
readouts for four high-value Phase III programmes since our last 
quarterly results, including first pivotal data for two key NMEs - 
tozorakimab in COPD and efzimfotase alfa in hypophosphatasia. 
We continue to invest in our commercial capabilities as we prepare 
for multiple launches, look forward to further readouts anticipated 
this year, and remain on track to achieve our ambition for 2030 and 
beyond.” 
  
 
 
 
Guidance 
AstraZeneca reconfirms Total Revenue and Core EPS guidance3 for FY 2026 at CER, based on the average foreign exchange rates 
through 2025.  
Total Revenue is expected to increase by a mid-to-high single-digit percentage 
Core EPS is expected to increase by a low double-digit percentage 
 
The Core Tax rate is expected to be between 18-22% 
 
If foreign exchange rates for April 2026 to December 2026 were to remain at the average rates seen in March 2026, it is anticipated 
that Total Revenue in FY 2026 would benefit from a low single-digit percentage positive impact (unchanged) compared to the 
performance at CER, and Core EPS growth would be broadly similar (unchanged) to the growth at CER.

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Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
2 
 
 
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Contents 
Results highlights ...................................................................................................................................................................................... 3 
Revenue drivers ........................................................................................................................................................................................ 6 
R&D progress .......................................................................................................................................................................................... 12 
Sustainability .......................................................................................................................................................................................... 15 
Operating and financial review  .............................................................................................................................................................. 16 
Financial performance ............................................................................................................................................................................ 17 
Interim financial statements .................................................................................................................................................................. 22 
Notes to the Interim financial statements ............................................................................................................................................. 26 
Other shareholder information .............................................................................................................................................................. 35 
Glossary .................................................................................................................................................................................................. 37 
 
Table 1: Milestones achieved since the prior results announcement ...................................................................................................... 3 
Table 2: Key elements of financial performance: Q1 2026 ...................................................................................................................... 4 
Table 3: Product Revenue (PR) by medicine ............................................................................................................................................. 6 
Table 4: Collaboration Revenue ............................................................................................................................................................... 7 
Table 5: Total Revenue by Therapy Area .................................................................................................................................................. 7 
Table 6: Total Revenue by region ............................................................................................................................................................. 7 
Table 7: Product Revenue by region ......................................................................................................................................................... 7 
Table 8: Reported Profit and Loss........................................................................................................................................................... 17 
Table 9: Reconciliation of Reported Profit before tax to EBITDA ........................................................................................................... 17 
Table 10: Reconciliation of Reported to Core financial measures: Q1 2026 .......................................................................................... 17 
Table 11: Cash Flow summary: Q1 2026 ................................................................................................................................................ 19 
Table 12: Net debt summary .................................................................................................................................................................. 19 
Table 13: Obligor group summarised statement of comprehensive income: Q1 2026 .......................................................................... 20 
Table 14: Obligor group summarised statement of financial position ................................................................................................... 20 
Table 15: Currency sensitivities .............................................................................................................................................................. 21 
Table 16: Condensed consolidated statement of comprehensive income: Q1 2026 ............................................................................. 22 
Table 17: Condensed consolidated statement of financial position....................................................................................................... 23 
Table 18: Condensed consolidated statement of changes in equity ...................................................................................................... 24 
Table 19: Condensed consolidated statement of cash flows: Q1 2026 .................................................................................................. 25 
Table 20: Net debt .................................................................................................................................................................................. 27 
Table 21: Patent litigation ...................................................................................................................................................................... 29 
Table 22: Product liability litigation ........................................................................................................................................................ 31 
Table 23: Commercial litigation .............................................................................................................................................................. 31 
Table 24: Government investigations and proceedings ......................................................................................................................... 32 
Table 25: Product Sales year-on-year analysis: Q1 2026 ........................................................................................................................ 33 
Table 26: Alliance Revenue: Q1 2026 ..................................................................................................................................................... 34 
Table 27: Collaboration Revenue: Q1 2026 ............................................................................................................................................ 34 
Table 28: Other operating income and expense: Q1 2026 ..................................................................................................................... 34

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Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
3 
 
Table 1: Milestones achieved since the prior results announcement 
Phase III and other registrational data readouts 
Medicine Trial Indication Event 
Imfinzi EMERALD-3 Locoregional HCC Primary endpoint met 
Imfinzi + Orpathys SAMETA MET+ advanced papillary renal cell carcinoma Primary endpoint not met 
tozorakimab OBERON COPD Primary endpoint met 
tozorakimab TITANIA COPD Primary endpoint met 
tozorakimab MIRANDA COPD Primary endpoint met 
tozorakimab PROSPERO COPD Primary endpoint not met 
Breztri ATHLOS COPD Primary endpoint met 
efzimfotase alfa MULBERRY HPP (paediatric, treatment-naïve) Primary endpoint met 
efzimfotase alfa CHESTNUT HPP (paediatric, switch from Strensiq) Primary endpoint met 
efzimfotase alfa HICKORY HPP (adults, adolescents, treatment-naïve) Primary endpoint not met 
Ultomiris I CAN IgAN Primary endpoint met 
Ultomiris ARTEMIS CSA-AKI Discontinued due to 
inconsistent efficacy  
Regulatory approvals 
Medicine Trial Indication Region 
Calquence AMPLIFY 1L CLL (fixed duration) US 
Enhertu DESTINY-Gastric04 2L HER2+ gastric/GEJ cancer JP 
Enhertu DESTINY-PanTumor02 HER2-positive solid tumours JP 
Enhertu DESTINY-Breast11 Neoadjuvant HER2+ Stage II or III breast cancer CN 
Imfinzi MATTERHORN Resectable gastric/GEJ cancer EU 
Imfinzi HIMALAYA 1L HCC CN 
Imfinzi POSEIDON 1L NSCLC CN 
Breztri KALOS / LOGOS Asthma US 
Saphnelo TULIP-SC SLE (subcutaneous) JP, US 
Tezspire WAYPOINT Chronic rhinosinusitis with nasal polyps JP, CN 
Tezspire DIRECTION Severe asthma CN 
Koselugo KOMET Adult NF1-PN CN 
Regulatory submissions or acceptances* in major regions 
Medicine Trial Indication Region 
Calquence AMPLIFY 1L CLL (fixed duration) JP 
Calquence ECHO 1L MCL CN 
Enhertu DESTINY-Breast05 High-risk HER2+ early breast cancer (post-neoadjuvant) US, EU, JP, CN 
Enhertu DESTINY-PanTumor03 HER2-expressing solid tumours CN 
Datroway TROPION-Breast02 1L TNBC for patients where immunotherapy is not an option JP 
baxdrostat BaxHTN / Bax24 / 
BaxAsia 
Treatment resistant hypertension CN 
* US, EU and China regulatory entries in this table denote filing acceptance  
Other pipeline updates 
For recent trial starts and anticipated timings of key trial readouts, please refer to the Clinical Trials Appendix document in the financial 
results section of the AstraZeneca investor relations website: www.astrazeneca.com/investor-relations.html
Results highlights

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Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
4 
 
Table 2: Key elements of financial performance: Q1 2026 
 
For the quarter  Reported      Change Core       Change  
ended 31 March 
 
$m  Act CER $m  Act CER  
Product Revenue 15,211  13  8  15,211  13  8   See Tables 3, 7, 25 and 26 for further details of Product 
Revenue, Product Sales and Alliance Revenue 
Collaboration 
Revenue 
77  4  -  77  4  -   See Tables 4 and 27 for further details of Collaboration 
Revenue 
Total Revenue 
 
15,288  13  8  15,288  13  8   See Tables 5 and 6 for Total Revenue by Therapy Area 
and by region 
Gross Margin (%) 82  -1pp +1pp 83  -1pp +1pp  Variations in Gross Margin can be expected between 
periods due to various factors, including fluctuations in 
foreign exchange rates, product seasonality and 
Collaboration Revenue 
R&D expense 3,492  11  7  3,461  12  8   Core R&D: 23% of Total Revenue 
+ Accelerated recruitment in ongoing trials 
+ Investments in transformative technologies such as 
IO bispecifics, cell therapy and antibody drug 
conjugates  
+ Addition of R&D projects from business development 
+ Positive data readouts for high value pipeline 
opportunities that have ungated large late-stage trials 
SG&A expense  4,920  10  6  3,859  12  7   Core SG&A: 25% of Total Revenue 
+ Investment to support ongoing and future launches 
Other operating 
income and expense4  
189  67  65  189  65  63  + Various partner milestones 
Operating profit 4,246  16  17  5,352  11  12   
Operating Margin (%) 28  +1pp  +2pp  35  -  +1pp  
Net finance expense  320  20  16  281  30  26  + Prior year Net finance expense benefitted from 
adjustments relating to settlements with tax 
authorities 
Tax rate (%) 21  +7pp +7pp   21  +5pp  +5pp   Prior year benefitted from the release of tax liabilities 
following settlements with tax authorities 
 Variations in the tax rate can be expected between 
periods 
EPS ($) 1.99  6  8  2.58  4  5   
For dollar values in this table, the unit of change is percent. For Gross Margin, Operating Margin and Tax rate, the unit of change is percentage points (pp). 
In the table above, R&D expense, SG&A expense and Net finance expense are displayed as positive numbers. The plus and minus symbols next to comments denote the 
directional impact of the item being discussed. For example, a plus symbol next to a comment about an R&D item indicates that the item increased R&D expenditure 
relative to the prior year period.

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Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
5 
 
 
Corporate and business development  
 
Jacobio Pharma 
In March 2026, Jacobio Pharma 
announced that it had received an upfront 
payment of $100m from AstraZeneca. The 
payment was made in accordance with the 
collaboration and license agreement 
announced in December 2025 for 
JAB-23E73, an investigational oral 
pan-KRAS inhibitor. 
 
Pinetree 
In April 2026, AstraZeneca exercised its 
option to obtain an exclusive global license 
from Pinetree Therapeutics, Inc. (Pinetree) 
to develop and commercialize PTX-299, a 
first-in-class bispecific antibody degrader 
targeting EGFR. The option exercise 
triggers a $25m payment to Pinetree. 
Pinetree is also eligible to receive potential 
future development, regulatory, and 
commercial milestone payments and 
tiered royalties on global net sales if the 
product is successfully developed and 
commercialized. The total potential value 
of the agreement exceeds $500m. 
 
CSPC 
In April 2026, AstraZeneca closed the 
previously announced new strategic 
collaboration agreement with CSPC 
Pharmaceuticals to advance the 
development of multiple next-generation 
therapies for obesity and type 2 diabetes. 
AstraZeneca will pay an upfront payment 
of $1.2bn. See Note 5 for further details. 
 
 
 
Sustainability highlights 
The Company released its third  
Sustainability Impact Publication which 
includes its Sustainability achievements to 
date, updated 2030 Sustainability targets 
and case studies from across the 
enterprise on climate and nature action, 
health equity and health systems 
resilience. 
Reporting calendar  
The Company intends to publish its H1 and 
Q2 2026 results on 27 July 2026. 
Conference call 
A conference call and webcast for 
investors and analysts will begin today, 
29 April 2026, at 14:30 UK time. Details 
can be accessed via astrazeneca.com. 
Reporting changes since FY 2025 
The therapy area formerly referred to as 
‘Vaccines and Immune Therapies’ is now 
titled ‘Infectious Disease’. 
The updated title aligns with the naming 
convention of AstraZeneca’s other therapy 
areas, which are named after the scientific 
fields in which they operate.
Notes 
1. Constant exchange rates. The 
differences between Actual Change and 
CER Change are due to foreign exchange 
movements between periods in 2026 vs. 
2025. CER financial measures are not 
accounted for according to generally 
accepted accounting principles (GAAP) 
because they remove the effects of 
currency movements from Reported 
results.  
2. Core financial measures are adjusted to 
exclude certain items. The differences 
between Reported and Core measures 
are primarily due to costs relating to the 
amortisation of intangibles, 
impairments, legal settlements and 
restructuring charges. A full 
reconciliation between Reported EPS 
and Core EPS is provided in Table 10 in 
the Financial Performance section of this 
document. 
3. The Company is unable to provide 
guidance on a Reported basis because it 
cannot reliably forecast material 
elements of the Reported results, 
including any fair value adjustments 
arising on acquisition-related liabilities, 
intangible asset impairment charges and 
legal settlement provisions. Please refer 
to the Cautionary statements section 
regarding forward-looking statements at 
the end of this announcement. 
4. Income from disposals of assets and 
businesses, where the Group does not 
retain a significant ongoing economic 
interest, is recorded in Other operating 
income and expense in the Group’s 
financial statements.

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Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
6 
 
Table 3: Product Revenue (PR) by medicine 
  Q1 2026          % Change    
   
$m  % Total  Actual  CER      
Tagrisso 1,833  12  9  5      
Imfinzi 1,694  11  34  30      
Calquence 923  6  21  17      
Lynparza 781  5  8  2      
Enhertu 831  5  40  34      
Zoladex 315  2  8  2      
Truqap 198  1  50  47      
Imjudo 77  1  (5) (7)     
Datroway 43  -  >10x  >10x      
Other Oncology 102  1  (8) (10)     
Oncology PR 6,797  45  20  16      
Farxiga 2,193  14  7  (2)     
Crestor 355  2  12  8      
Lokelma 199  1  30  26      
Seloken 180  1  12  7      
Brilinta 105  1  (65) (67)     
Wainua 51  -  29   28       
roxadustat  43  -  (45) (48)     
Other CVRM 115  1  (16) (20)     
Cardiovascular, Renal & Metabolism PR 3,241  21  -  (7)     
Symbicort 747  5  3  (1)     
Fasenra 483  3  15  11      
Breztri 353  2  18  13      
Tezspire 303  2  40  34      
Saphnelo 171  1  25  24      
Pulmicort 149  1  (6) (11)     
Airsupra 37  -  31  31      
Other R&I 75  -  (28) (30)     
Respiratory & Immunology PR 2,318  15  11  7      
Beyfortus 116  1  3  3      
FluMist 8  -  >10x  >10x      
Other ID 58  -  (49) (53)     
Infectious Disease PR 182  1  (19) (22)     
Ultomiris 1,270  8  21  18      
Soliris 389  3  (12) (14)     
Strensiq 517  3  47  43      
Koselugo 170  1  24  15      
Other Rare Disease 74  -  28  18      
Rare Disease PR 2,420  16  19  15      
Other Medicines PR 253  2  (7) (9)     
Product Revenue 15,211  100  13  8      
         
Alliance Revenue included above:         
Enhertu 508  3  28  23      
Tezspire 154  1  18  18      
Beyfortus 91  1  11  11      
Datroway 42  -  >10x  >10x      
Other royalty revenue 29  -  22  22      
Other Alliance Revenue 1  -  3  3      
Alliance Revenue 825  5  29  26      
 
  
Revenue drivers

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Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
7 
 
Table 4: Collaboration Revenue 
 Q1 2026              % Change    
 
$m    Actual  CER      
Farxiga: sales milestones 44   (41) (44)     
Crestor: sales milestones 32   n/m n/m     
Others 1   n/m n/m     
Collaboration Revenue 77   4  -      
Table 5: Total Revenue by Therapy Area 
 Q1 2026              % Change    
 
$m   % Total Actual  CER      
Oncology 6,798  44  20  16      
- Cardiovascular, Renal & Metabolism 3,317  22  -  (6)     
- Respiratory & Immunology 2,318  15  11  7      
- Infectious Disease 182  1  (19) (22)     
BioPharmaceuticals 5,817  38  3  (2)     
Rare Disease 2,420  16  19  15      
Other Medicines 253  2  (7) (9)     
Total Revenue 15,288  100  13  8      
Table 6: Total Revenue by region 
 Q1 2026              % Change    
 $m   % Total Actual  CER      
US 6,205  41  10  10      
- Emerging Markets ex. China 2,475  16  16  9      
- China 1,923  13  7  2      
Emerging Markets 4,398  29  12  6      
Europe 3,405  22  23  9      
Established RoW 1,280  8  3  2      
Total Revenue 15,288  100  13  8      
Table 7: Product Revenue by region 
 Q1 2026              % Change    
 $m   % Total Actual  CER      
US 6,204  41  10  10      
- Emerging Markets ex. China 2,475  16  16  9      
- China 1,923  13  7  2      
Emerging Markets 4,398  29  12  6      
Europe 3,405  22  23  9      
Established RoW 1,204  8  3  2      
Total Product Revenue 15,211  100  13  8

===== SIDA 8 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
8 
 
Total Revenue by Medicine 
Oncology 
Tagrisso  
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Strong demand growth across indications and key regions, positioned as backbone 
across all stages of EGFRm NSCLC. Leading combination in 1L NSCLC (FLAURA2) 
US 733  8  8    Robust underlying demand; higher Q1 inventory destocking 
Emerging Markets 536  3  (1)   Affected by tender outcomes and phasing 
Europe 387  26  12    
Established RoW 177  2  1    Seasonal variability in Japan ahead of fiscal year-end 
Total 1,833  9  5    
Imfinzi 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Strong demand growth across all regions from existing indications and new 
launches 
US 954  31  31    Demand growth led by new GI and GU launches (MATTERHORN, NIAGARA) 
Emerging Markets 187  32  28    Strong growth in GI (HIMALAYA, TOPAZ), ongoing launch momentum 
Europe 383  52  34    Early momentum for new lung (ADRIATIC) and GI (MATTERHORN) launches 
Established RoW 170  22  22    Demand growth from new launches across GYN (DUO-E), GU (NIAGARA), and lung 
Total 1,694  34  30    
Calquence  
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Sustained BTKi leadership in front-line CLL with launch momentum across finite 
use for 1L CLL (AMPLIFY) and 1L MCL (ECHO) 
US 599  18  18    Strong demand growth from ongoing leadership in front-line CLL BTKi market 
Emerging Markets 70  30  22    
Europe 218  28  13    Further expansion in finite use for 1L CLL and 1L MCL 
Established RoW 36  16  13    
Total 923  21  17    
Lynparza 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Global leadership in mature first-generation PARPi market 
US 308  (1) (1)   Demand growth offset by channel mix 
Emerging Markets 174  8  (1)   Affected by generic competition in China and VBP implementation in Q1 2026 
Europe 239  22  8    Continued uptake in prostate (PROpel) and breast (OlympiA) indications 
Established RoW 60  4  3    
Total 781  8  2

===== SIDA 9 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
9 
 
Enhertu 
Combined sales of Enhertu, recorded by Daiichi Sankyo and AstraZeneca, amounted to $1,422m in Q1 2026 (Q1 2025: $1,086m). US 
in-market sales, recorded by Daiichi Sankyo, amounted to $656m in Q1 2026 (Q1 2025: $540m). Up to and including Q3 2025, 
AstraZeneca’s mid-single-digit percentage royalty on Daiichi Sankyo's sales in Japan was recorded in Europe. From Q4 2025 this royalty 
has been recorded in Established RoW. 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Standard-of-care in HER2-positive (DESTINY-Breast03) and HER2-low (DESTINY-
Breast04) metastatic breast cancer, early uptake in other cancers 
  US  317  23  23    Early adoption in 1L HER2-positive breast cancer (DESTINY-Breast09) 
Emerging Markets 261  51  47    Continued adoption post-NRDL enlistment of HER2-positive and HER2-low breast 
cancer from 1 January 2025 
Europe 207  41  24    Further demand growth in chemotherapy naïve HER2-low breast cancer 
Established RoW 46  >2x  >2x    
Total 831  40  34    
Other Oncology medicines 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Zoladex 316  8  3    Growth across Emerging Markets 
Truqap 198  50  47    Achieved peak share in second-line biomarker-altered metastatic breast cancer 
Imjudo  77  (5) (7)   Continued GI (HIMALAYA) growth ex-US, offset by US destocking   
Datroway 43  >10x >10x   Continued uptake in breast cancer and EGFRm later-line lung cancer 
 Combined global sales by AstraZeneca and Daiichi Sankyo: $102m (Q1 2025: $9m) 
Other Oncology 102  (8) (10)   Generic erosion across markets 
Other Oncology includes $7m of Total Revenue from Orpathys, partnered with HUTCHMED. 
BioPharmaceuticals – Cardiovascular, Renal & Metabolism 
Farxiga 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Growth driven by HF and CKD indications, SGLT2 class growth supported by 
cardiorenal guidelines  
US 449  17  17    Continued market share gain in growing SGLT2 market 
Emerging Markets 924  6  (2)   Affected by generic competition and VBP implementation in China in Q1 2026 
Europe 778  14  -    Demand growth offset by generic entry in the UK in Q3 2025 
Established RoW 87  (56) (58)   Generic T2D entry in Japan in Q4 2025. Milestone receipt in the quarter 
Total 2,237  5  (3)   
 
Other CVRM medicines 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Crestor 387  22  18    Growth driven by Emerging Markets and Est. RoW. Milestone receipt in Q1 2026 
Lokelma 199  30  26    Strong growth in all major regions  
Seloken 180  12  7    Growth driven by Emerging Markets  
Brilinta 105  (65) (67)   Decline driven by generic entry in the US and Europe in Q2 2025 
Wainua 51  29  28    Demand growth in ATTR-PN 
roxadustat 43  (45) (48)   Affected by generic competition in China and VBP implementation in Q1 2026 
Other CVRM 115  (16) (20)   Generic erosion

===== SIDA 10 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
10 
 
BioPharmaceuticals - Respiratory & Immunology 
Symbicort  
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Sustained market leader in a broadly stable ICS/LABA class, treating COPD and 
asthma 
US 290  4  4    Demand for brand and authorised generic partially offset by price pressures 
Emerging Markets 226  (3) (7)   Volume growth offset by continued generic erosion ex. China  
Europe 152  12  -    Volume growth offset by continued generic erosion  
Established RoW 79  4  (1)   
Total 747  3  (1)   
Fasenra 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Expanded severe eosinophilic asthma market share leadership in IL-5 class, 
further fuelled by accelerated EGPA indication launches   
US 256  3  3    Strong demand with expanded IL-5 class leadership partially offset by inventory 
movement and gross-to-net adjustments 
Emerging Markets 46  70  63    Asthma launch momentum across key markets including NRDL listing in China in 
Q1 2026 
Europe 129  25  10    Increased leadership in severe eosinophilic asthma 
Established RoW 52  34  31    Strong growth supported by EGPA in Japan 
Total 483  15  11    
Breztri 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Fastest growing medicine within the expanding FDC triple class (ICS/LABA/LAMA), 
treating COPD 
US 149  1  1     Consistent share growth offset by unfavourable gross-to-net adjustments 
Emerging Markets 115  28  22    Market share leadership within FDC triple class in China 
Europe 64  55  37    Sustained growth from market share gains 
Established RoW 25  25  22    
Total 353  18  13    
Tezspire 
Combined sales of Tezspire, recorded by Amgen and AstraZeneca, amounted to $493m in Q1 2026 (Q1 2025: $371m). 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Sustained demand growth in severe asthma with launch momentum across 
multiple markets 
US 154  18  18    Continued strong demand growth in severe asthma and launch of CRSwNP 
Emerging Markets 20  >2x  >2x    Strong continued uptake 
Europe 95  68  50    Maintained new-to-brand leadership across multiple markets and new launches 
Established RoW 34  46  45    
Total 303  40  34    
Other R&I medicines 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Pulmicort 149  (6) (11)   Generic competition in Emerging Markets (~80% of revenue)  
Saphnelo 171  25  24    Strong US demand growth, ongoing launches in Europe and Established RoW 
Airsupra 37  31  31    Strong US launch momentum and volume uptake 
Other R&I 75  (28) (30)   
BioPharmaceuticals – Infectious Disease 
Beyfortus Total Revenue reflects the sum of Product Sales from AstraZeneca’s sales of manufactured product to Sanofi and Alliance 
Revenue from AstraZeneca’s share of gross profits and royalties on sales in major markets outside the US. 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Beyfortus 116  3  3    
FluMist 8  >10x >10x   
Other ID 58  (49) (53)   Other includes Synagis, which declined due to competition from Beyfortus

===== SIDA 11 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
11 
 
Rare Disease 
Ultomiris 
Ultomiris Total Revenue includes sales of Voydeya, which is approved as an add-on treatment to Ultomiris and Soliris for the ~20-30% 
of PNH patients who experience clinically significant EVH. 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Growth due to patient demand, both naïve to branded medicines and conversion 
from Soliris across all indications (gMG, NMOSD, aHUS and PNH)  
US 679  12  12    Demand growth across indications, including within the competitive gMG and 
PNH landscapes 
Emerging Markets 103  98  93    Expansion into new markets and growth in patient demand 
Europe 298  31  16    Strong demand growth following launches; competition in gMG and PNH 
Established RoW 190  14  14    Continued conversion and strong demand following new launches 
Total 1,270  21  18    
Soliris 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Decline driven by conversion of patients to Ultomiris across all indications, 
competition in gMG and PNH 
US 216  (25) (25)   Also affected by biosimilar pressure in gMG, PNH and aHUS 
Emerging Markets 113  73  67    Benefitted from favourable order timing from tender markets 
Europe 32  (42) (49)   Also affected by biosimilar pressure in PNH and aHUS 
Established RoW 28  (19) (21)   
Total 389  (12) (14)   
Strensiq 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Growth driven by continued HPP patient demand and geographic expansion  
US 407  53  53    
Emerging Markets 49  44  18    
Europe 32  20  6    
Established RoW 29  13  13    
Total 517  47  43    
Other Rare Disease medicines 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Koselugo 170 24  15    Growth driven by continued patient demand and geographic expansion. Strong 
uptake following launch of adult indication 
Other Rare Disease  74 28  18    Other Rare Disease medicines include Kanuma and Beyonttra (JP only)  
Other Medicines 
Q1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Other Medicines 253  (7) (9)   Generic erosion

===== SIDA 12 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
12 
 
This section covers R&D events and milestones that occurred from 10 February 2026 up to and including 28 April 2026. A 
comprehensive view of AstraZeneca's pipeline of medicines in human trials can be found in the latest Clinical Trials Appendix, available 
on AstraZeneca’s investor relations webpage. The Clinical Trials Appendix includes tables with details of the ongoing clinical trials for 
AstraZeneca medicines and new molecular entities in the pipeline. 
Oncology 
AstraZeneca presented new data across its diverse portfolio of cancer medicines at one major medical congress since the prior results 
announcement: the American Association for Cancer Research 2026 (AACR). At this meeting, more than 50 abstracts were presented 
featuring 25 approved and potential new medicines including 8 oral presentations. 
Enhertu 
Priority Review 
US 
DESTINY-Breast05 
March 2026 
 
 HER2-positive breast cancer with residual invasive disease after neoadjuvant HER2-
targeted treatment. 
Approval 
JP 
DESTINY-Gastric04 
March 2026 
New disclosure 
 2nd-line treatment of patients with HER2 positive (IHC3+ or IHC2+/ISH+) unresectable 
advanced or recurrent gastric cancer. 
Approval 
JP 
DESTINY-
PanTumor02 
March 2026 
New disclosure 
 For the treatment of adult patients with HER2+ (ERBB2 gene amplification or IHC3+) 
advanced or recurrent solid cancers refractory or intolerant to standard treatments. 
Approval 
CN 
DESTINY-Breast11 
March 2026 
New disclosure 
 Enhertu followed by paclitaxel, trastuzumab and pertuzumab for the neoadjuvant 
treatment of adult patients with HER2-positive stage II (high-risk) or stage III breast 
cancer. 
Calquence 
Approval 
US 
AMPLIFY 
February 2026 
 In combination with venetoclax as a fixed-duration regimen for the treatment of 
adult patients with chronic lymphocytic leukaemia and small lymphocytic lymphoma. 
Imfinzi 
Approval 
EU 
MATTERHORN 
March 2026 
 In combination with standard-of-care FLOT chemotherapy (fluorouracil, leucovorin, 
oxaliplatin, and docetaxel) for the treatment of adult patients with resectable, early-
stage and locally advanced (Stages II, III, IVA) gastric and gastroesophageal junction 
cancers. 
Phase III readout EMERALD-3 
April 2026 
 Imfinzi in combination with Imjudo, lenvatinib and transarterial chemoembolisation 
demonstrated a statistically significant and clinically meaningful improvement in the 
primary endpoint of PFS versus TACE alone for patients with unresectable 
hepatocellular carcinoma eligible for embolisation. 
Approval 
CN 
POSEIDON 
April 2026 
New disclosure 
 In combination with Imjudo and platinum-based chemotherapy is indicated for the 
first-line treatment of adults with metastatic NSCLC with no sensitising EGFR 
mutations or ALK positive mutations. 
Approval 
CN 
HIMALAYA 
April 2026 
New disclosure 
 As monotherapy for the first line treatment of adults with advanced or unresectable 
hepatocellular carcinoma. 
 In combination with Imjudo for the first line treatment of adults with advanced or 
unresectable hepatocellular carcinoma.  
Phase III readout 
 
SAMETA 
Q1 2026 
New disclosure 
 Imfinzi in combination with Orpathys did not meet the primary endpoint of PFS 
versus sunitinib. 
BioPharmaceuticals – Cardiovascular, Renal & Metabolism 
Wainua 
Approval 
US 
April 2026 
New disclosure 
 As an HCP-administered prefilled syringe for the treatment of hATTR-PN in adults. 
Wainua is now approved both as a prefilled syringe (for use by healthcare providers 
only) and as an autoinjector (for self-administration).  
  
R&D progress

===== SIDA 13 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
13 
 
BioPharmaceuticals – Respiratory & Immunology 
Breztri 
Approval 
US 
KALOS/LOGOS 
April 2026 
 
 Maintenance treatment of asthma in adult and paediatric patients 12 years of age 
and older. 
 
Data publication 
The Lancet 
 
KALOS/LOGOS 
February 2026 
 Breztri improved lung function by 76mL (95% CI 57-94 mL, unadjusted p<0.001, as 
measured by morning pre-dose trough FEV1 over 24 weeks) and 90mL (95% CI 72-108 
mL, unadjusted p<0.001, as measured by FEV1 AUC0-3 over 24 weeks) versus dual 
therapy (the ICS/LABA treatment groups combined) in a pre-specified pooled analysis 
of the primary endpoints across KALOS and LOGOS. 
Phase III readout ATHLOS 
April 2026 
New disclosure 
 Breztri met the primary endpoint demonstrating improved inspiratory capacity during 
exercise versus placebo. Despite showing numerical benefits and improvements in 
measures of (static) hyperinflation, Breztri did not achieve statistical significance vs 
dual therapy (ICS/LABA) in the second primary objective. There were no new safety 
findings. These data will be shared with the scientific community in the future.  
Saphnelo 
Approval 
JP 
TULIP-SC 
February 2026 
New disclosure 
 For subcutaneous injection as an auto-injector for the therapy of systemic lupus 
erythematosus insufficiently responding to currently available treatment. 
Approval 
US 
TULIP-SC 
April 2026 
 For self-administration as a once-weekly autoinjector, the Saphnelo Pen, for the 
treatment of adult patients with systemic lupus erythematosus on top of standard 
therapy.  
Tezspire 
Approval 
JP 
WAYPOINT 
February 2026 
New disclosure 
 For subcutaneous injection as a treatment for chronic rhinosinusitis with nasal polyps 
in patients who are insufficiently controlled by currently available treatments. 
Approval 
CN 
WAYPOINT 
March 2026 
New disclosure 
 Add-on therapy with intranasal corticosteroids for the treatment of adults with 
severe chronic rhinosinusitis with nasal polyps for whom therapy with systemic 
corticosteroids and/or surgery do not provide adequate disease control. 
Approval 
CN 
DIRECTION 
March 2026 
New disclosure 
 Maintenance treatment of adult and paediatric patients aged 12 years and older with 
severe asthma. 
tozorakimab 
Phase III readout 
 
OBERON/TITANIA 
March 2026 
 
 Tozorakimab, dosed Q4W, demonstrated statistically significant and highly clinically 
meaningful reductions in the annualised rate of moderate-to-severe COPD 
exacerbations compared with placebo, in the primary population of former smokers, 
and in the overall population, which included former and current smokers, and 
patients across all blood eosinophil counts and all stages of lung function severity. 
Phase III readout 
 
MIRANDA 
March 2026 
 Tozorakimab, dosed Q2W, demonstrated statistically significant and clinically 
meaningful reductions in the annualised rate of moderate-to-severe COPD 
exacerbations compared with placebo, in the primary population of former smokers, 
and in the overall population, which included former and current smokers, and 
patients across all blood eosinophil counts and all stages of lung function severity. 
Phase III readout 
 
PROSPERO 
April 2026 
New disclosure 
 Long-term extension trial of OBERON and TITANIA showed that tozorakimab resulted 
in a numerical, but not statistically significant, reduction in the annualised rate of 
severe exacerbations in former smokers (primary endpoint). In the overall population 
of former and current smokers, tozorakimab showed a nominally significant 
reduction in the annualised rate of severe exacerbations. Tozorakimab was generally 
well tolerated with a favourable safety profile consistent with previous trials. These 
data will be presented at a forthcoming medical meeting and shared with global 
regulatory authorities.

===== SIDA 14 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
14 
 
Rare Disease  
efzimfotase alfa 
Phase III readout 
 
MULBERRY  
March 2026  
 Efzimfotase alfa met its primary endpoint in children (2 to <12 years of age) with HPP 
who have not been previously treated with Strensiq, demonstrating a statistically 
significant and clinically meaningful improvement in bone health from baseline 
compared to placebo, as measured by Radiographic Global Impression of Change 
Score at week 25. 
Phase III readout 
 
CHESTNUT  
March 2026  
 Efzimfotase alfa was well-tolerated and demonstrated a favourable safety profile in 
children (2 to <12 years of age) switching from Strensiq and maintained the 
treatment benefit of Strensiq on bone health at week 25, as measured by secondary 
endpoints Radiographic Global Impression of Change Score and Rickets Severity 
Score. 
Phase III readout 
 
HICKORY 
March 2026  
 Efzimfotase alfa showed numerical improvement but did not achieve statistical 
significance in the primary endpoint of Six-Minute Walk Test in adolescents and 
adults (12 years of age and older) with HPP who have not been previously treated 
with Strensiq, compared to placebo at week 25. This was largely due to better-than-
expected results observed in the adult-onset HPP placebo group. In a combination of 
prespecified subgroups of adolescents and adults with paediatric-onset HPP, 
efzimfotase alfa showed nominally statistically significant and clinically meaningful 
benefits in mobility, as measured by Six-Minute Walk Test, as well as key secondary 
endpoints measuring physical function and pain reduction, compared to placebo. 
Ultomiris 
Phase III readout 
 
I CAN 
April 2026 
 Ultomiris met its primary endpoint in a prespecified interim analysis, demonstrating a 
statistically significant and clinically meaningful reduction of proteinuria, based on 
24-hour urine protein creatinine ratio, at week 34 in adults with immunoglobulin A 
nephropathy who are at risk of disease progression. The primary endpoint of change 
from baseline in estimated glomerular filtration rate will be measured at week 106. 
Phase III trial update ARTEMIS 
April 2026 
New disclosure 
 Alexion, AstraZeneca Rare Disease will discontinue the ARTEMIS Phase III clinical trial 
evaluating Ultomiris in cardiac surgery-associated acute kidney injury in adults with 
chronic kidney disease who undergo non-emergent cardiac surgery with 
cardiopulmonary bypass due to lack of efficacy following a planned interim analysis. 
The broader development programme for Ultomiris will continue, including across 
other existing clinical assessments, as a treatment for additional indications. The 
safety profile observed in this trial was consistent with the known profile of Ultomiris, 
with no new safety concerns identified. 
Koselugo 
Approval 
CN 
 
KOMET 
March 2026 
New disclosure 
 For the treatment of adult patients with symptomatic, inoperable plexiform 
neurofibromas in neurofibromatosis type 1.

===== SIDA 15 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
15 
 
Sustainability highlights  
– The Company released its third 
Sustainability Impact Publication which 
includes its Sustainability achievements 
to date, updated 2030 Sustainability 
targets and case studies from across the 
enterprise on climate and nature 
action, health equity and health 
systems resilience. 
– CEO Pascal Soriot was recognised with 
the Sustainable Markets Initiative (SMI) 
Terra Carta and Astra Carta Award, 
celebrating the vision and leadership he 
has demonstrated in service of a 
sustainable future, including through 
chairing the SMI Health Systems Task 
Force.  
– AstraZeneca was recognised by Fortune 
Magazine as one of the World’s Most 
Admired Companies and the second 
highest-ranked pharmaceutical 
company. 
– AstraZeneca Chief Sustainability Officer 
Pam Cheng was named in the top five 
of Sustainability Magazine’s Top 250 
Sustainability Leaders. 
Climate and nature  
– AstraZeneca completed the transition 
of the Company's pressurised metered 
dose inhaler Trixeo to a next-generation 
propellant with near-zero Global 
Warming Potential in the UK, with the 
transition underway across Europe. 
– AstraZeneca has achieved My Green 
Lab certification for 104 labs, including 
97 at the highest level, with over 4,500 
scientists participating in the 
certification. 
– The Company was recognised in the 
latest CDP Supplier Assessment for its 
climate change engagement with 
suppliers. 
Health equity  
– By the end of 2025, the Healthy Heart 
Africa (HHA) programme had screened 
81 million people since launch in 2014, 
for hypertension and (from 2024) for 
chronic kidney disease (CKD). 
– In March 2026, CKD data modelling for 
Egypt and Morocco from the HHA 
INSIDE/IMPACT project was presented 
at the World Congress of Nephrology, 
projecting the clinical and 
environmental burden of CKD from 
2025 to 2030. The data indicated 
significant gaps in early diagnosis in 
both countries: without national 
screening and guideline-driven 
interventions, it is estimated that fewer 
than 7% of patients with CKD will be 
diagnosed by 2030, with associated 
increases in greenhouse gas emissions 
from more resource-intensive 
treatments associated with late CKD 
diagnosis. 
– By the end of 2025, the Company’s 
excess inventory donation programme 
had donated medicines to 1,700 
underserved patients in six countries. 
Health systems resilience   
– At the World Economic Forum Annual 
Meeting in January, AstraZeneca Chair 
Michel Demaré convened leaders from 
government, academia and industry to 
discuss the topic of investment in 
health as a strategic asset. The 
Company also contributed to a 
Partnership for Health System 
Sustainability and Resilience (PHSSR) 
panel discussion on strengthening 
resilience amid rising pressure from 
NCDs. 
– In parallel, a new PHSSR–World 
Economic Forum white paper was 
published on how health systems can 
act early on NCDs. Canada launched the 
first PHSSR Policy Roadmaps Acting 
Early on NCDs country report, with 
recommendations to shift towards 
prevention, optimised diagnosis and 
coordinated care. Additional country 
reports are expected in 2026.  
How we do business 
– AstraZeneca was again recognised in 
the FTSE Women Leaders Review 2025 
as a top performer for representation 
of women across the Company.
Sustainability

===== SIDA 16 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
16 
 
Reporting currency 
All narrative on growth and results in this 
section is based on actual exchange rates, 
and financial figures are in US$ millions 
($m), unless stated otherwise. 
Reporting period 
The performance shown in this 
announcement covers the three-month 
period to 31 March 2026 ('the quarter' or 
'Q1 2026') compared to the three-month 
period to 31 March 2025 (‘Q1 2025’), 
unless stated otherwise. 
Core financial measures 
Core financial measures, EBITDA, Net debt, 
Gross Margin, Operating Margin, Tax rate 
and CER are non-GAAP financial measures 
because they cannot be derived directly 
from the Group's Condensed consolidated 
financial statements. 
Management believes that these non-
GAAP financial measures, when provided 
in combination with Reported results, 
provide investors and analysts with helpful 
supplementary information to better 
understand the financial performance and 
position of the Group on a comparable 
basis from period to period. 
These non-GAAP financial measures are 
not a substitute for, or superior to, 
financial measures prepared in accordance 
with GAAP. 
Core financial measures (cont.) 
Core financial measures are adjusted to 
exclude certain significant items:  
– Charges and provisions related to our 
global restructuring programmes, which 
includes charges that relate to the 
impact of restructuring programmes on 
our capitalised manufacturing assets 
and IT assets 
– Amortisation and impairment of 
intangible assets, including impairment 
reversals but excluding any charges 
relating to IT assets 
– Other specified items, principally 
comprising acquisition-related costs 
and credits, which include the imputed 
finance charges and fair value 
movements relating to contingent 
consideration on business 
combinations, imputed finance charges 
and remeasurement adjustments on 
certain Other payables arising from 
intangible asset acquisitions, 
remeasurement adjustments relating to 
certain Other payables, debt items 
assumed from the Alexion acquisition 
and legal settlements 
– The tax effects of the adjustments 
above are excluded from the Core Tax 
charge 
Details on the nature of Core financial 
measures are provided on page 53 of the 
Annual Report and Form 20-F Information 
2025. 
Reference should be made to the 
Reconciliation of Reported to Core 
financial measures table included in the 
Financial Performance section in this 
announcement. 
Definitions 
Gross Margin is defined as Gross Profit as a 
percentage of Total Revenue.  
EBITDA is defined as Reported Profit 
before tax after adding back Net finance 
expense, results from Joint ventures and 
associates and charges for Depreciation, 
amortisation and impairment. Reference 
should be made to the Reconciliation of 
Reported Profit before tax to EBITDA 
included in the Financial Performance 
section in this announcement. 
Operating Margin is defined as Operating 
profit as a percentage of Total Revenue. 
Net debt is defined as Interest-bearing 
loans and borrowings and Lease liabilities, 
net of Cash and cash equivalents, Other 
investments, and Net derivative financial 
instruments. Reference should be made to 
Note 2 'Net debt', included in the Notes to 
the interim financial statements in this 
announcement. 
The Company strongly encourages 
investors and analysts not to rely on any 
single financial measure, but to review 
AstraZeneca's financial statements, 
including the Notes thereto, and other 
available Company reports, carefully and 
in their entirety. 
Due to rounding, the sum of a number of 
dollar values and percentages in this 
announcement may not agree to totals. 
  
Operating and financial review

===== SIDA 17 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
17 
 
Table 8: Reported Profit and Loss 
 Q1 2026  Q1 2025            % Change    
 $m  $m  Actual  CER      
 - Product Sales 14,386  12,875  12  7      
 - Alliance Revenue 825  639  29  26      
Product Revenue 15,211  13,514  13  8      
Collaboration Revenue 77  74  4  -      
Total Revenue 15,288  13,588  13  8      
Cost of sales (2,678) (2,241) 20  4      
Gross profit 12,610  11,347  11  9      
Distribution expense (141) (135) 4  (4)     
R&D expense (3,492) (3,159) 11  7      
SG&A expense (4,920) (4,492) 10  6      
Other operating income & expense 189  113  67  65      
Operating profit 4,246  3,674  16  17      
Net finance expense (320) (265) 20  16      
Joint ventures and associates (12) (7) 86  67      
Profit before tax 3,914  3,402  15  17      
Taxation (833) (481) 74  71      
Tax rate 21%  14%        
Profit after tax 3,081  2,921  5  8      
Earnings per share $1.99  $1.88  6  8      
Table 9: Reconciliation of Reported Profit before tax to EBITDA 
 Q1 2026  Q1 2025            % Change    
 $m  $m  Actual  CER      
Reported Profit before tax  3,914  3,402  15  17      
Net finance expense  320  265  20  16      
Joint ventures and associates  12  7  86  67      
Depreciation, amortisation and impairment  1,366  1,284  6  3      
EBITDA  5,612  4,958  13  13      
Table 10: Reconciliation of Reported to Core financial measures: Q1 2026 
For the three months ended 31 March Reported Restructuring Intangible Asset 
Amortisation & 
Impairments 
Other Core % Change 
 $m  $m  $m  $m  $m  Actual  CER  
Gross profit 12,610  5  8  1  12,624  11  9  
 - Gross Margin 82%     83%  -1pp +1pp  
Distribution expense (141) -  -  -  (141) 6  (2) 
R&D expense (3,492) 21  9  1  (3,461) 12  8  
- R&D % of Total Revenue 23%     23%  -  -  
SG&A expense (4,920) 34  973  54  (3,859) 12  7  
- SG&A % of Total Revenue 32%     25%  -  -  
Total operating expense (8,553) 55  982  55  (7,461) 12  7  
Other operating income & expense 189  -  -  -  189  65  63  
Operating profit 4,246  60  990  56  5,352  11  12  
- Operating Margin 28%        35%  -  +1pp  
Net finance expense (320) -  -  39  (281) 30  26  
Taxation (833) (13) (190) (22) (1,058) 48  50  
EPS $1.99  $0.03  $0.52  $0.04  $2.58  4  5  
  
Financial performance

===== SIDA 18 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
18 
 
Profit and Loss drivers 
Gross profit 
The movement in Gross Margin in Q1 
2026 was a result of: 
– Positive effects from geographic mix 
– The contribution of Product Sales with 
profit sharing arrangements (Lynparza, 
Enhertu, Datroway, Tezspire, plus 
Koselugo in the prior year period) 
reduces Gross Margin because 
AstraZeneca records Product Sales in 
certain markets and pays away a share 
of the gross profits to its collaboration 
partners. The profit share paid to 
partners is recorded in AstraZeneca’s 
Cost of sales line 
– Pricing adjustments to medicines that 
have reached the end of their 
exclusivity periods, and 
implementation of the US government 
agreement announced in 2025 
– Currency effects, principally arising 
from forex volatility in Q1 2025 
Variations in Gross Margin performance 
between periods can continue to be 
expected due to product seasonality, 
foreign exchange fluctuations, and other 
effects. 
R&D expense 
The increase in R&D expense (Reported 
and Core) in the period was driven by: 
– Positive data readouts for high-value 
pipeline opportunities that have 
ungated late-stage trials 
– Investment in platforms, new 
technology and capabilities to enhance 
R&D capabilities 
– Addition of R&D projects following 
completion of previously announced 
business development activity 
SG&A expense 
– The increase in SG&A expense 
(Reported and Core) in the period was 
driven primarily by ongoing and future 
launches and to support continued 
growth in existing brands 
Other operating income and expense 
– Other operating income increased due 
to multiple partner milestones being 
met in the quarter  
Net finance expense 
Core Net finance expense increased 30% 
(26% at CER) in Q1 2026, principally due 
to the prior year benefitting from 
adjustments relating to settlements with 
tax authorities.  
Taxation 
The effective Reported and Core Tax rates 
for the three months to 31 March 2026 
were 21% (Q1 2025: 14% and 16% 
respectively). The Reported and Core 
rates were higher in Q1 2026 as Q1 2025 
benefited from the release of tax 
liabilities following settlements with tax 
authorities  
The cash tax paid for the three months to 
31 March 2026 was $526m (Q1 2025: 
$363m), representing 13% of Reported 
Profit before tax (Q1 2025: 11%).

===== SIDA 19 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
19 
 
 
Cash Flow 
Table 11: Cash Flow summary: Q1 2026 
For the three months ended 31 March Q1 2026  
$m  
Q1 2025  
$m  
Change 
$m  
Reported Operating profit  4,246  3,674  572  
Depreciation, amortisation and impairment  1,366  1,284  82  
Movement in working capital and short-term provisions  (1,000) (426) (574) 
Gains on disposal of intangible assets  (34) (66) 32  
Fair value movements on contingent consideration arising from business combinations 1  1  -  
Non-cash and other movements  (253) 31  (284) 
Interest paid  (441) (422) (19) 
Taxation paid  (526) (363) (163) 
Net cash inflow from operating activities  3,359  3,713  (354) 
Net cash outflow from investing activities  (1,792) (1,253) (539) 
Net cash inflow/(outflow) from financing activities 267  (2,707) 2,974  
Net increase/(decrease) in cash and cash equivalents in the period 1,834  (247) 2,081  
Net cash flow 
The decrease in Net cash inflow from 
operating activities of $354m is primarily 
driven by Movement in working capital 
and short-term provisions and foreign 
exchange fluctuations, offset by increased 
Operating profit. 
The increase in Net cash outflow from 
investing activities of $539m is primarily 
driven by increased Purchase of 
intangible assets. 
The change in Net cash inflow/(outflow) 
from financing activities of $2,974m is 
primarily driven by the issue of new long-
term loans of $1,990m in Q1 2026, with 
no issuance in Q1 2025, and also the issue 
of commercial paper of $2,412m in the 
current period compared to $948m of 
commercial paper issued in comparative 
period. 
Capital expenditure 
Capital expenditure on Property, plant 
and equipment and software-related 
intangible assets amounted to $645m in 
Q1 2026 (Q1 2025: $493m). The increase 
of capital expenditure in Q1 2026 was 
driven by investment in several major 
manufacturing projects and continued 
investment in technology upgrades. 
Net debt 
Net debt increased by $2,570m in the 
three months to 31 March 2026 to 
$25,944m. Details of the committed 
undrawn bank facilities are disclosed 
within the Going concern section of Note 
1. Details of the Company's solicited 
credit ratings and further details on Net 
debt are disclosed in Note 2. 
Net debt 
Table 12: Net debt summary 
 At 31 Mar  
2026  
$m  
At 31 Dec 
2025  
$m  
At 31 Mar  
2025  
$m  
Cash and cash equivalents 7,560  5,711  5,230  
Other investments 115  30  165  
Cash and investments 7,675  5,741  5,395  
Overdrafts and short-term borrowings (597) (644) (445) 
Commercial paper (2,412) -  (948) 
Lease liabilities (1,888) (1,803) (1,551) 
Current instalments of loans (4,567) (2,460) (2,010) 
Non-current instalments of loans (24,454) (24,715) (26,692) 
Interest-bearing loans and borrowings (Gross debt) (33,918) (29,622) (31,646) 
Net derivatives 299  507  184  
Net debt (25,944) (23,374) (26,067)

===== SIDA 20 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
20 
 
Summarised financial information for guarantee of securities of subsidiaries
AstraZeneca Finance LLC ("AstraZeneca 
Finance") is the issuer of 1.2% Notes due 
2026, 4.8% Notes due 2027, 4.875% Notes 
due 2028, 1.75% Notes due 2028, 4.85% 
Notes due 2029, 4.9% Notes due 2030, 
4.9% Notes due 2031, 2.25% Notes due 
2031, 4% Notes due 2031, 4.875% Notes 
due 2033, 4.3% Notes due 2033, 5% Notes 
due 2034 and 4.6% Notes due 2036 (the 
"AstraZeneca Finance USD Notes"). Each 
series of AstraZeneca Finance USD Notes 
has been fully and unconditionally 
guaranteed by AstraZeneca PLC. 
AstraZeneca Finance is 100% owned by 
AstraZeneca PLC and each of the 
guarantees issued by AstraZeneca PLC is 
full and unconditional and joint and 
several. 
The AstraZeneca Finance USD Notes are 
senior unsecured obligations of 
AstraZeneca Finance and rank equally with 
all of AstraZeneca Finance's existing and 
future senior unsecured and 
unsubordinated indebtedness. The 
guarantee by AstraZeneca PLC of the 
AstraZeneca Finance USD Notes is the 
senior unsecured obligation of 
AstraZeneca PLC and ranks equally with all 
of AstraZeneca PLC's existing and future 
senior unsecured and unsubordinated 
indebtedness. Each guarantee by 
AstraZeneca PLC is effectively 
subordinated to any secured  
indebtedness of AstraZeneca PLC to the 
extent of the value of the assets securing 
such indebtedness. The AstraZeneca 
Finance USD Notes are structurally 
subordinated to indebtedness and other 
liabilities of the subsidiaries of AstraZeneca 
PLC, none of which guarantee the 
AstraZeneca Finance USD Notes.  
AstraZeneca PLC manages substantially all 
of its operations through divisions, 
branches and/or investments in 
subsidiaries and affiliates. Accordingly, the 
ability of AstraZeneca PLC to service its 
debt and guarantee obligations is also 
dependent upon the earnings of its 
subsidiaries, affiliates, branches and 
divisions, whether by dividends, 
distributions, loans or otherwise. Please 
refer to the Consolidated financial 
statements of AstraZeneca PLC in our 
Annual Report on Form 20-F as filed with 
the SEC and information contained herein 
for further financial information regarding 
AstraZeneca PLC and its consolidated 
subsidiaries. For further details, terms and 
conditions of the AstraZeneca Finance USD 
Notes please refer to AstraZeneca PLC's 
reports on Form 6-K furnished to the SEC 
on 26 February 2026, 22 February 2024, 3 
March 2023 and 28 May 2021. 
Pursuant to Rule 13-01 and Rule 3-10 of 
Regulation S-X under the Securities Act of 
1933, as amended (the "Securities Act"), 
we present below the summary financial 
information for AstraZeneca PLC, as 
Guarantor, excluding its consolidated 
subsidiaries, and AstraZeneca Finance, as 
the issuer, excluding its consolidated 
subsidiaries. The following summary 
financial information of AstraZeneca PLC 
and AstraZeneca Finance is presented on a 
combined basis and transactions between 
the combining entities have been 
eliminated. Financial information for non-
guarantor entities has been excluded. 
Intercompany balances and transactions 
between the obligor group and the non-
obligor subsidiaries are presented on 
separate lines. 
Obligor group summarised statements 
Table 13: Obligor group summarised statement of comprehensive income: Q1 2026 
For the three months ended 31 March Q1 2026  
$m  
Q1 2025  
$m  
Total Revenue -  -  
Gross profit  -  -  
Operating loss (1) -  
Loss for the period (259) (302) 
Transactions with subsidiaries that are not issuers or guarantors 303  5,807  
 
Table 14: Obligor group summarised statement of financial position 
 At 31 Mar 
2026  
$m  
At 31 Mar 
2025  
$m  
Current assets 49  68  
Non-current assets 68  -  
Current liabilities (7,302) (3,201) 
Non-current liabilities (24,440) (26,748) 
Amounts due from subsidiaries that are not issuers or guarantors 20,443  20,922  
Amounts due to subsidiaries that are not issuers or guarantors -  -

===== SIDA 21 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
21 
 
Capital allocation 
The Group’s capital allocation priorities 
include: investing in the business and 
pipeline; maintaining a strong, investment-
grade credit rating; pursuing potential 
value-enhancing business development 
opportunities; and supporting the 
progressive dividend policy. 
In approving the declaration of dividends, 
the Board considers both the liquidity of 
the Company and the level of reserves 
legally available for distribution. 
In FY 2026, the Company intends to 
increase the annual dividend declared to 
$3.30 per share. 
Dividends are paid to shareholders from 
AstraZeneca PLC, a Group holding 
company with no direct operations. The 
ability of AstraZeneca PLC to make 
shareholder distributions is dependent on 
the creation of profits for distribution and 
the receipt of funds from subsidiary 
companies. 
The consolidated Group reserves set out in 
the Condensed consolidated statement of 
financial position do not reflect the profit 
available for distribution to the 
shareholders of AstraZeneca PLC. 
In FY 2025, capital expenditure on 
Property, plant and equipment and 
Software-related intangible assets 
amounted to $3,270m. In FY 2026 the 
Group expects to increase expenditure on 
Property, plant and equipment and 
Software-related intangible assets by 
approximately a third driven by 
manufacturing expansion projects and 
investments in systems and technology.
Foreign exchange 
The Company's transactional currency 
exposures on working capital balances, 
which typically extend for up to three 
months, are hedged where practicable 
using forward foreign exchange contracts 
against the individual companies' reporting 
currency.
Foreign exchange gains and losses on 
forward contracts transacted for 
transactional hedging are taken to profit or 
to Other comprehensive income if the 
contract is in a designated cashflow hedge. 
In addition, the Company's external 
dividend payments paid in pound sterling 
and Swedish krona, are fully hedged from 
the time of their announcement to the 
payment date. 
 
 
Table 15: Currency sensitivities 
Currency Primary Relevance Exchange rate vs USD (average rate in period) Annual impact of 5% 
strengthening vs USD1 ($m) 
  FY   
20252 
YTD   
20263 
Change  
 (%) 
Mar  
 20264 
Change  
 (%) 
Total  
Revenue  
Core Operating 
Profit  
EUR Total Revenue 0.88   0.85   4    0.87    2   499   234    
CNY Total Revenue 7.19   6.92     4   6.90    4    329   178    
JPY Total Revenue 149.64   156.85   (5)  158.64    (6) 179   120    
GBP Operating expense 0.76   0.74   2    0.75   1   50   (180)  
SEK Operating expense 9.81   9.13   7    9.31   5   9   (71) 
Other        615  339  
1. Assumes the average exchange rate vs USD in FY 2026 is 5% higher than the average rate in FY 2025. The impact data are estimates, based on best prevailing 
assumptions around currency profiles. 
2. Based on average daily spot rates 1 January 2025 to 31 December 2025. 
3. Based on average daily spot rates 1 January 2026 to 31 March 2026. 
4. Based on average daily spot rates 1 March 2026 to 31 March 2026.

===== SIDA 22 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
22 
 
Table 16: Condensed consolidated statement of comprehensive income: Q1 2026 
For the three months ended 31 March 2026  
$m  
2025  
$m  
- Product Sales 14,386  12,875  
- Alliance Revenue 825  639  
Product Revenue 15,211  13,514  
Collaboration Revenue 77  74  
Total Revenue 15,288  13,588  
Cost of sales (2,678) (2,241) 
Gross profit 12,610  11,347  
Distribution expense (141) (135) 
Research and development expense (3,492) (3,159) 
Selling, general and administrative expense (4,920) (4,492) 
Other operating income and expense 189  113  
Operating profit 4,246  3,674  
Finance income 73  84  
Finance expense (393) (349) 
Share of after tax losses in associates and joint ventures (12) (7) 
Profit before tax 3,914  3,402  
Taxation (833) (481) 
Profit for the period 3,081  2,921  
   
Other comprehensive income   
Items that will not be reclassified to profit or loss:   
Remeasurement of the defined benefit pension liability 75  51  
Net gains/(losses) on equity investments measured at fair value through Other comprehensive income 185  (58) 
Tax expense on items that will not be reclassified to profit or loss (56) (17) 
 204  (24) 
Items that may be reclassified subsequently to profit or loss:   
Foreign exchange arising on consolidation (551) 1,152  
Foreign exchange arising on designated liabilities in net investment hedges 7  53  
Fair value movements on cash flow hedges (79) 72  
Fair value movements on cash flow hedges transferred to profit and loss 55  (102) 
Fair value movements on derivatives designated in net investment hedges 4  (10) 
Costs of hedging (16) (8) 
Tax income/(expense) on items that may be reclassified subsequently to profit or loss 7  (30) 
 (573) 1,127  
Other comprehensive (expense)/income for the period, net of tax (369) 1,103  
     
Total comprehensive income for the period 2,712  4,024  
   
Profit attributable to:    
Owners of the Parent 3,080  2,916  
Non-controlling interests 1  5  
 3,081  2,921  
   
Total comprehensive income/(expense) attributable to:   
Owners of the Parent 2,713  4,017  
Non-controlling interests (1) 7  
 2,712  4,024  
Earnings per share   
Basic earnings per $0.25 Ordinary Share $1.99  $1.88  
Diluted earnings per $0.25 Ordinary Share $1.97  $1.87  
Weighted average number of Ordinary Shares in issue (millions) 1,549  1,550  
Diluted weighted average number of Ordinary Shares in issue (millions) 1,561  1,561  
  
Interim financial statements

===== SIDA 23 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
23 
 
Table 17: Condensed consolidated statement of financial position 
 
 
At 31 Mar  
2026  
At 31 Dec  
2025  
At 31 Mar  
2025  
Assets   $m  $m  $m  
Non-current assets     
Property, plant and equipment  13,121  12,962  10,819  
Right-of-use assets  1,820  1,741  1,484  
Goodwill  21,194  21,242  21,130  
Intangible assets  36,908  37,846  37,550  
Investments in associates and joint ventures  306  302  270  
Other investments  2,359  2,223  1,630  
Derivative financial instruments  382  498  210  
Other receivables  1,186  1,327  926  
Income tax receivable  1,533  1,391  -  
Deferred tax assets  5,593  5,819  6,095  
  84,402  85,351  80,114  
Current assets     
Inventories  6,570  6,557  5,884  
Trade and other receivables  14,106  15,177  13,250  
Other investments  115  30  165  
Derivative financial instruments  28  90  45  
Intangible assets  175  -  -  
Income tax receivable  1,059  1,158  1,565  
Cash and cash equivalents  7,560  5,711  5,230  
  29,613  28,723  26,139  
Total assets  114,015  114,074  106,253  
     
Liabilities     
Current liabilities     
Interest-bearing loans and borrowings  (7,576) (3,104) (3,403) 
Lease liabilities  (383) (382) (355) 
Trade and other payables  (22,505) (25,280) (22,544) 
Derivative financial instruments  (103) (81) (22) 
Provisions  (704) (686) (1,149) 
Income tax payable  (1,299) (1,084) (1,656) 
  (32,570) (30,617) (29,129) 
Non-current liabilities     
Interest-bearing loans and borrowings  (24,454) (24,715) (26,692) 
Lease liabilities  (1,505) (1,421) (1,196) 
Derivative financial instruments  (8) -  (49) 
Deferred tax liabilities  (3,471) (3,500) (3,553) 
Retirement benefit obligations  (953) (1,105) (1,279) 
Provisions  (904) (918) (922) 
Income tax payable  (611) (700) (264) 
Other payables  (2,155) (2,379) (2,038) 
  (34,061) (34,738) (35,993) 
Total liabilities  (66,631) (65,355) (65,122) 
     
Net assets  47,384  48,719  41,131  
     
Equity     
Share capital  388  388  388  
Share premium account  35,275  35,266  35,233  
Other reserves  1,998  2,041  2,054  
Retained earnings  9,672  10,972  3,364  
Capital and reserves attributable to equity holders of the Parent  47,333  48,667  41,039  
Non-controlling interests  51  52  92  
Total equity  47,384  48,719  41,131

===== SIDA 24 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
24 
 
Table 18: Condensed consolidated statement of changes in equity 
 Share 
capital 
Share 
premium 
account 
Other 
reserves 
Retained 
earnings 
Total 
attributable 
to owners of 
the Parent 
Non-
controlling 
interests 
Total equity 
 $m  $m  $m  $m  $m  $m  $m 
At 1 Jan 2025 388  35,226  2,012  3,160  40,786  85  40,871  
Profit for the period -  -  -  2,916  2,916  5  2,921  
Other comprehensive (expense)/income   -  -  (42) 1,143  1,101  2  1,103  
Transfer to Other reserves -  -  58  (58) -  -  -  
Transactions with owners        
Dividends -  -  -  (3,249) (3,249) -  (3,249) 
Issue of Ordinary Shares -  7  -  -  7  -  7  
Movement in shares held by Employee 
Benefit Trusts -  -  26  -  26  -  26  
Share-based payments charge for the period -  -  -  174  174  -  174  
Settlement of share plan awards -  -  -  (722) (722) -  (722) 
Net movement -  7  42  204  253  7  260  
At 31 Mar 2025 388  35,233  2,054  3,364  41,039  92  41,131  
        
At 1 Jan 2026 388  35,266  2,041  10,972  48,667  52  48,719  
Profit for the period -  -  -  3,080  3,080  1  3,081  
Other comprehensive expense   -  -  (41) (326) (367) (2) (369) 
Transfer to Other reserves -  -  5  (5) -  -  -  
Transactions with owners        
Dividends -  -  -  (3,359) (3,359) -  (3,359) 
Issue of Ordinary Shares -  9  -  -  9  -  9  
Movement in shares held by Employee 
Benefit Trusts -  -  (7) -  (7) -  (7) 
Share-based payments charge for the period -  -  -  201  201  -  201  
Settlement of share plan awards -  -  -  (891) (891) -  (891) 
Net movement -  9  (43) (1,300) (1,334) (1) (1,335) 
At 31 Mar 2026 388  35,275  1,998  9,672  47,333  51  47,384

===== SIDA 25 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
25 
 
Table 19: Condensed consolidated statement of cash flows: Q1 2026 
For the three months ended 31 March 2026  
$m  
2025  
$m  
Cash flows from operating activities   
Profit before tax 3,914  3,402  
Finance income and expense 320  265  
Share of after tax losses of associates and joint ventures 12  7  
Depreciation, amortisation and impairment 1,366  1,284  
Movement in working capital and short-term provisions (1,000) (426) 
Gains on disposal of intangible assets (34) (66) 
Fair value movements on contingent consideration arising from business combinations 1  1  
Non-cash and other movements (253) 31  
Cash generated from operations 4,326  4,498  
Interest paid (441) (422) 
Tax paid (526) (363) 
Net cash inflow from operating activities 3,359  3,713  
   
Cash flows from investing activities   
Payment of contingent consideration from business combinations (257) (362) 
Purchase of property, plant and equipment (547) (429) 
Disposal of property, plant and equipment 8  1  
Purchase of intangible assets (991) (540) 
Disposal of intangible assets 45  9  
Purchase of non-current asset investments (8) -  
Movement in short-term investments, fixed deposits and other investing instruments (85) 1  
Payments to associates and joint ventures (24) -  
Interest received 67  67  
Net cash outflow from investing activities (1,792) (1,253) 
Net cash inflow before financing activities 1,567  2,460  
   
Cash flows from financing activities   
Proceeds from issue of share capital 10  8  
Own shares purchased by Employee Benefit Trusts (612) (486) 
Issue of loans and borrowings  1,990  -  
Repayment of loans and borrowings (2) (4) 
Dividends paid (3,287) (3,347) 
Hedge contracts relating to dividend payments (72) 104  
Repayment of obligations under leases (94) (81) 
Movement in short-term borrowings 2,334  1,099  
Net cash inflow/(outflow) from financing activities 267  (2,707) 
   
Net increase/(decrease) in Cash and cash equivalents in the period 1,834  (247) 
Cash and cash equivalents at the beginning of the period 5,698  5,429  
Exchange rate effects (18) 25  
Cash and cash equivalents at the end of the period 7,514  5,207  
   
Cash and cash equivalents consist of:   
Cash and cash equivalents 7,560  5,230  
Overdrafts (46) (23) 
 7,514  5,207

===== SIDA 26 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
26 
 
Note 1: Basis of preparation and accounting policies
These unaudited Interim financial 
statements for the three months ended 31 
March 2026 have been prepared in 
accordance with International Accounting 
Standard 34, ‘Interim Financial Reporting’ 
(IAS 34), as issued by the International 
Accounting Standards Board (IASB), IAS 34 
as adopted by the European Union, UK-
adopted IAS 34 and the Disclosure 
Guidance and Transparency Rules 
sourcebook of the United Kingdom’s 
Financial Conduct Authority and with the 
requirements of the Companies Act 2006 
as applicable to companies reporting 
under those standards.  
The unaudited Interim financial 
statements for the three months ended 
31 March 2026 were approved by the 
Board of Directors for publication on 
29 April 2026. 
This results announcement does not 
constitute statutory accounts of the Group 
within the meaning of sections 434(3) and 
435(3) of the Companies Act 2006. The 
annual financial statements of the Group 
for the year ended 31 December 2025 
were prepared in accordance with UK-
adopted international accounting 
standards and with the requirements of 
the Companies Act 2006. The annual 
financial statements also comply fully with 
IFRS Accounting Standards as issued by the 
IASB and International Accounting 
Standards as adopted by the European 
Union. Except for the estimation of the 
interim income tax charge, the Interim 
financial statements have been prepared 
applying the accounting policies that were 
applied in the preparation of the Group’s 
published consolidated financial 
statements for the year ended 31 
December 2025. 
The comparative figures for the financial 
year ended 31 December 2025 are not the 
Group’s statutory accounts for that 
financial year. Those accounts have been 
reported on by the Group’s auditors and 
have been delivered to the Registrar of 
Companies; their report (i) was 
unqualified, (ii) did not include a reference 
to any matters to which the auditors drew 
attention by way of emphasis without 
qualifying their report, and (iii) did not 
contain a statement under section 498(2) 
or (3) of the Companies Act 2006. 
Going concern 
The Group has considerable financial 
resources available. As at 31 March 2026, 
the Group has $12.5bn in financial 
resources (cash and cash equivalent 
balances of $7.6bn and undrawn 
committed bank facilities of $4.9bn that 
are available until April 2031), with $8.0bn 
of borrowings due within one year. These 
facilities contain no financial covenants.  
The Group has assessed the prospects of 
the Group over a period longer than the 
required 12 months from the date of 
Board approval of these consolidated 
financial statements, with no deterioration 
noted requiring a further extension of this 
review. The Group's revenues are largely 
derived from sales of medicines covered 
by patents, which provide a relatively high 
level of resilience and predictability to cash 
inflows, although government price 
interventions in response to budgetary 
constraints are expected to continue to 
adversely affect revenues in some of our 
significant markets. The Group, however, 
anticipates new revenue streams from 
both recently launched medicines and 
those in development, and the Group has 
a wide diversity of customers and suppliers 
across different geographic areas. 
Consequently, the Directors believe that, 
overall, the Group is well placed to 
manage its business risks successfully. 
Accordingly, they continue to adopt the 
going concern basis in preparing the 
Interim financial statements. 
Legal proceedings 
The information contained in Note 4 
updates the disclosures concerning legal 
proceedings and contingent liabilities in 
the Group's Annual Report and Form 20-F 
Information 2025.
  
Notes to the Interim financial statements

===== SIDA 27 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
27 
 
Note 2: Net debt 
Table 20: Net debt 
 
 At 1 Jan  
2026  
Cash flow  Acquisitions Non-cash  
 and other  
Exchange  
 movements  
At 31 Mar  
2026  
 $m  $m  $m $m  $m  $m  
Non-current instalments of loans (24,715) (1,990) -  2,136  115  (24,454) 
Non-current instalments of leases (1,421) -  -  (99) 15  (1,505) 
Total long-term debt (26,136) (1,990) -  2,037  130  (25,959) 
Current instalments of loans (2,460) 2  -  (2,122) 13  (4,567) 
Current instalments of leases (382) 115  -  (120) 4  (383) 
Commercial paper -  (2,412) -  -  -  (2,412) 
Collateral received from derivative 
counterparties (473) 90  -  -  -  (383) 
Other short-term borrowings excluding 
overdrafts (158) (12) -  -  2  (168) 
Overdrafts (13) (34) -  -  1  (46) 
Total current debt (3,486) (2,251) -  (2,242) 20  (7,959) 
Gross borrowings (29,622) (4,241) -  (205) 150  (33,918) 
Net derivative financial instruments 507  152  -  (360) -  299  
Net borrowings (29,115) (4,089) -  (565) 150  (33,619) 
Cash and cash equivalents 5,711  1,868  -  -  (19) 7,560  
Other investments - current 30  85  -  -  -  115  
Cash and investments 5,741  1,953  -  -  (19) 7,675  
Net debt (23,374) (2,136) -  (565) 131  (25,944) 
 
The table above provides an analysis of 
Net debt and a reconciliation of Net cash 
flow to the movement in Net debt. The 
Group monitors Net debt as part of its 
capital management policy as described in 
Note 28 of the Annual Report and Form 
20-F Information 2025. Net debt is a non-
GAAP financial measure. 
Net debt increased by $2,570m in the 
three months to 31 March 2026 to 
$25,944m. Details of the committed 
undrawn bank facilities are disclosed 
within the going concern section of Note 1. 
Non-cash movements in the period include 
fair value adjustments under IFRS 9 
'Financial Instruments'. 
The Group has agreements with some 
bank counterparties whereby the parties 
agree to post cash collateral on financial 
derivatives, for the benefit of the other, 
equivalent to the market valuation of the 
derivative positions above a 
predetermined threshold. The carrying 
value of such cash collateral held by the 
Group at 31 March 2026 was $383m (31 
December 2025: $473m) and the carrying 
value of such cash collateral posted by the 
Group at 31 March 2026 was $109m  
(31 December 2025: $22m). 
The equivalent GAAP measure to Net debt 
is 'liabilities arising from financing 
activities', which excludes the amounts for 
cash and overdrafts, other investments 
and non-financing derivatives above. 
During the quarter ended 31 March 2026, 
there have been no changes to the 
Group’s solicited credit ratings. Moody’s 
credit ratings were long term: A1; short 
term: P-1. Standard and Poor’s credit 
ratings were long term: A+; short term:  
A-1.

===== SIDA 28 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
28 
 
Note 3: Financial Instruments
As detailed in the Group's most recent 
annual financial statements, the principal 
financial instruments consist of derivative 
financial instruments, other investments, 
trade and other receivables, cash and cash 
equivalents, trade and other payables, 
lease liabilities and interest-bearing loans 
and borrowings. 
The Group has certain equity investments 
that are categorised as Level 3 in the fair 
value hierarchy that are held at $453m 
(31 December 2025: $458m) and for which 
a fair value gain of $3m has been 
recognised in the three months ended 31 
March 2026 (Q1 2025: $nil). In the absence 
of specific market data, these unlisted 
investments are held at fair value based on 
the cost of investment and adjusted as 
necessary for impairments and 
revaluations on new funding rounds, 
which are seen to approximate the fair 
value. All other fair value gains and/or 
losses that are presented in Net gains on 
equity investments measured at fair value 
through other comprehensive income, in 
the Condensed consolidated statement of 
comprehensive income for the three 
months ended 31 March 2026, are Level 1 
fair value measurements, valued based on 
quoted prices in active markets. 
Financial instruments measured at fair 
value include $2,364m of other 
investments, $5,851m held in money-
market funds and $299m of derivatives as 
at 31 March 2026. With the exception of 
derivatives being Level 2 fair valued, and 
certain equity instruments of $453m 
categorised as Level 3, the 
aforementioned balances are Level 1 fair 
valued. Financial instruments measured at 
amortised cost include $109m of cash 
collateral pledged to counterparties. The 
total fair value of Interest-bearing loans 
and borrowings as at 31 March 2026, 
which have a carrying value of $33,918m 
in the Condensed consolidated statement 
of financial position, was $33,301m. 
Contingent consideration arising from 
business combinations is fair valued using 
decision-tree analysis, with key inputs 
including the probability of success, 
consideration of potential delays and the 
expected levels of future revenues. 
The final contingent consideration 
payment of $257m relating to BMS's share 
of the global diabetes alliance was made in 
Q1 2026.
Note 4: Legal proceedings and contingent liabilities
AstraZeneca is involved in various legal 
proceedings considered typical to its 
business, including litigation and 
investigations, including Government 
investigations, relating to product liability, 
commercial disputes, infringement of 
intellectual property (IP) rights, the validity 
of certain patents, anti-trust law and sales 
and marketing practices. The matters 
discussed below constitute the more 
significant developments since publication 
of the disclosures concerning legal 
proceedings in the Company's Annual 
Report and Form 20-F Information 2025. 
(the Disclosures). Information about the 
nature and facts of the cases is disclosed in 
accordance with IAS 37 ‘Provisions, 
Contingent Liabilities and Contingent 
Assets’. 
As discussed in the Disclosures, the 
majority of claims involve highly complex 
issues. Often these issues are subject to 
substantial uncertainties and, therefore, 
the probability of a loss, if any, being 
sustained and/or an estimate of the 
amount of any loss is difficult to ascertain. 
In cases that have been settled or 
adjudicated, or where quantifiable fines 
and penalties have been assessed and 
which are not subject to appeal, or where 
a loss is probable and we are able to make 
a reasonable estimate of the loss, 
AstraZeneca records the loss absorbed or 
makes a provision for its best estimate of 
the expected loss. The position could 
change over time and the estimates that 
the Company made, and upon which the 
Company have relied in calculating these  
provisions are inherently imprecise. There 
can, therefore, be no assurance that any 
losses that result from the outcome of any 
legal proceedings will not exceed the 
amount of the provisions that have been 
booked in the accounts. The major factors 
causing this uncertainty are described 
more fully in the Disclosures and herein. 
AstraZeneca has full confidence in, and will 
vigorously defend and enforce, its IP.

===== SIDA 29 =====

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Matters disclosed in respect of the first quarter of 2026 and up to and including 28 April 2026 
Table 21: Patent litigation 
Legal proceedings brought against AstraZeneca 
 
Enhertu patent proceedings, US 
Matter concluded 
 In October 2020, Seagen Inc. (Seagen) filed a complaint against Daiichi Sankyo Company, Limited 
(Daiichi Sankyo) in the US District Court for the Eastern District of Texas (District Court) alleging 
that Enhertu infringes a Seagen patent. AstraZeneca co-commercialises Enhertu with Daiichi 
Sankyo in the US. After trial in April 2022, the jury found that the patent was infringed and 
awarded Seagen $41.82m in past damages. In July 2022, the District Court entered final judgment 
and declined to enhance damages on the basis of wilfulness. In October 2023, the District Court 
entered an amended final judgment that requires Daiichi Sankyo to pay Seagen a royalty of 8% on 
US sales of Enhertu from 1 April 2022 through to 4 November 2024, in addition to the past 
damages previously awarded by the District Court. AstraZeneca and Daiichi Sankyo appealed the 
District Court’s decision. 
 In December 2020 and January 2021, AstraZeneca and Daiichi Sankyo filed post-grant review 
(PGR) petitions with the US Patent and Trademark Office (USPTO) alleging, among other things, 
that the Seagen patent is invalid for lack of written description and enablement. The USPTO 
initially declined to institute the PGRs, but, in April 2022, the USPTO granted the rehearing 
requests and instituted both PGR petitions. Seagen subsequently disclaimed all patent claims at 
issue in one of the PGR proceedings. In July 2022, the USPTO reversed its institution decision and 
declined to institute the other PGR petition. AstraZeneca and Daiichi Sankyo requested 
reconsideration of the decision not to institute review of the patent. In February 2023, the USPTO 
reinstituted the PGR proceeding. In February 2024, the USPTO issued a decision that the claims 
were unpatentable. Seagen appealed this decision; the USPTO intervened in the appeal. 
 In December 2025, the US Court of Appeals for the Federal Circuit issued decisions in both the 
District Court and PGR appeals finding that Seagen's patent is invalid and vacating the District 
Court’s prior infringement judgment and damages award. The deadline for filing an appeal has 
expired. 
 This matter has concluded.  
Forxiga patent proceedings, 
Europe 
Considered to be a contingent liability 
 
 In November 2025, in France, Biogaran SAS challenged one of AstraZeneca's patents covering 
Forxiga. No trial date has been set. 
 In Poland and in Portugal, multiple generic companies have challenged one of AstraZeneca's 
patents covering Forxiga. No trial date has been set. 
 In February 2026, the Polish Patent Office invalidated the Forxiga composition patent. 
AstraZeneca is appealing that decision.

===== SIDA 30 =====

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30 
 
Legal proceedings brought by AstraZeneca 
Forxiga patent proceedings, 
Australia 
 
 In December 2025, in the Federal Court of Australia, AstraZeneca initiated patent infringement 
litigation against Pharmacor Pty Limited (Pharmacor) in reference to one of the patents that 
protects Forxiga. 
 In March 2026, AstraZeneca obtained a preliminary injunction against the launch of Pharmacor's 
dapagliflozin product. 
 No trial date has been set. 
Lynparza patent proceedings, US 
 
 AstraZeneca received a Paragraph IV notice relating to Lynparza patents from Natco Pharma 
Limited (Natco) in December 2022, Sandoz Inc. (Sandoz) in December 2023, Cipla USA, Inc. and 
Cipla Limited (collectively, Cipla) in May 2024, and Zydus Pharmaceuticals (USA) Inc. (Zydus) in 
November 2024. 
 In response to these Paragraph IV notices, AstraZeneca, MSD International Business GmbH, and 
the University of Sheffield initiated ANDA litigations against Natco, Sandoz, Cipla, and Zydus in the 
US District Court for the District of New Jersey. In the complaints, AstraZeneca alleged that the 
defendants’ generic versions of Lynparza, if approved and marketed, would infringe 
AstraZeneca’s patents. 
 In April 2026, AstraZeneca entered into a settlement agreement with Sandoz resolving all US 
patent litigation with Sandoz relating to Lynparza. 
 No trial date has been scheduled for trial with the remaining defendants. 
Tagrisso patent proceedings, 
Russia 
 
 In August 2023, AstraZeneca filed lawsuits in the Arbitration Court of the Moscow region (Court) 
against the Russian Ministry of Health (MOH) and Axelpharm LLC (Axelpharm) for improper use of 
AstraZeneca information in the authorisation of a generic version of Tagrisso. The suit against the 
MOH was dismissed in July 2024, after two appeals. The case against Axelpharm was dismissed in 
September 2024, and a subsequent appeal by AstraZeneca was also dismissed. 
 In November 2023, Axelpharm sought a compulsory licence under a patent related to Tagrisso; 
the action remains pending. The Axelpharm patent on which the compulsory licensing action was 
based was held invalid by the Russian Patent and Trademark Office (PTO) in August 2024, 
following a challenge by AstraZeneca. The PTO’s decision was upheld in June 2025, following an 
appeal by Axelpharm. At a further appeal hearing in November 2025, the Intellectual Property 
Court Presidium reversed earlier decisions and held Axelpharm’s patent valid. The Supreme Court 
rejected appeals by AstraZeneca and the PTO against this decision in February 2026.  
 In July 2024, AstraZeneca filed a patent infringement claim against Axelpharm in relation to a 
generic version of Tagrisso. The action was stayed by the Court pending resolution of the 
compulsory licensing action. 
 In August 2024, after AstraZeneca filed a complaint, the Federal Anti-Monopoly Service of Russia 
(FAS) initiated a case against Axelpharm and OncoTarget LLC (OncoTarget). In November 2024, 
the FAS found Axelpharm (but not OncoTarget) to have committed unfair competition. In June 
2025, the finding against Axelpharm was reversed on appeal. In December 2025, on appeal by 
AstraZeneca, the appellate decision was affirmed. AstraZeneca filed a further appeal, and in April 
2026, the Intellectual Property Court restored the FAS’s finding of unfair competition and 
prohibited Axelpharm from selling the generic drug.  
Tagrisso patent proceedings, UK 
 
 In March 2026, AstraZeneca initiated a patent infringement action in the UK High Court against 
Hansoh Pharmaceutical Group Company Limited, Jiangsu Hansoh Pharmaceutical Group Co., Ltd., 
and relevant vendors relating to its prospective commercialisation of aumolertinib. 
 No trial date has been set.

===== SIDA 31 =====

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31 
 
Table 22: Product liability litigation 
Legal proceedings brought against AstraZeneca 
 
Farxiga and Xigduo XR, US 
Considered to be a contingent liability 
 
 AstraZeneca has been named as a defendant in lawsuits involving plaintiffs claiming physical 
injury, including Fournier’s Gangrene and necrotising fasciitis, from treatment 
with Farxiga and/or Xigduo XR. 
 AstraZeneca has settled in principle for an immaterial amount the matter that had been 
scheduled for trial in March 2026. 
 The first trial is scheduled for September 2026. 
Table 23: Commercial litigation 
Legal proceedings brought against AstraZeneca 
340B Antitrust Litigation, US 
Considered to be a contingent liability 
 
 In September 2021, AstraZeneca was served with a class-action antitrust complaint filed in the US 
District Court for the Western District of New York (District Court) by Mosaic Health, Inc. alleging 
a conspiracy to restrict access to 340B discounts in the diabetes market through contract 
pharmacies. In September 2022, the District Court granted AstraZeneca’s motion to dismiss the 
complaint. In February 2024, the District Court denied plaintiffs’ request to file an amended 
complaint and entered an order closing the matter. In March 2024, plaintiffs filed an appeal. 
 In August 2025, the US Court of Appeals for the Second Circuit decided in the plaintiffs' favour, 
ordering the District Court to accept the amended complaint. 
 In March 2026, AstraZeneca sought further review by the US Supreme Court. 
Amyndas Trade Secrets Litigation, 
US 
Considered to be a contingent liability 
 
 AstraZeneca has been defending a matter filed by Amyndas Pharmaceuticals Member P.C. and 
Amyndas Pharmaceuticals, LLC (collectively Amyndas), in the US District Court for the District of 
Massachusetts alleging trade secret misappropriation and breach of contract claims against 
AstraZeneca and Zealand Pharma U.S. Inc. related to Amyndas’ C3 inhibitor candidate. 
 In March 2026, the court granted AstraZeneca’s motion for partial summary judgment. 
Barone Privacy Litigation, US 
Considered to be a contingent liability 
 
 In March 2026, a putative class action complaint against AstraZeneca and others was filed in the 
US District Court for the Northern District of Illinois. The complaint alleges that AstraZeneca and 
others unlawfully used patient genetic information.  
 No trial date has been set.

===== SIDA 32 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
32 
 
Table 24: Government investigations and proceedings 
Legal proceedings brought against AstraZeneca 
340B Qui Tam, US 
Considered to be a contingent liability 
 
 In July 2023, AstraZeneca was served with an unsealed civil lawsuit brought by a qui tam relator 
on behalf of the United States, several states, and the District of Columbia in the US District Court 
for the Central District of California (District Court). The complaint alleges that AstraZeneca 
violated the US False Claims Act and state law analogues. In March 2024, the District Court 
granted AstraZeneca’s motion to dismiss the First Amended Complaint without leave to amend. 
 In March 2026, the Ninth Circuit reversed the District Court's dismissal and remanded. 
Texas Qui Tam, US 
Considered to be a contingent liability 
 
 In December 2022, AstraZeneca was served with an unsealed civil lawsuit brought by qui tam 
relators on behalf of the State of Texas in Texas State Court in Harrison County, which alleges that 
AstraZeneca engaged in unlawful marketing practices. 
 In November 2025, the case was transferred to the Texas State Court in Travis County. 
 In July 2025, the State of Texas moved to intervene in the matter and intervened in November 
2025. 
 Trial is scheduled for August 2026. 
Legal proceedings brought by AstraZeneca 
340B State Litigation, US 
Considered to be a contingent asset 
 
 AstraZeneca has filed lawsuits against Arkansas, Colorado, Hawaii, Kansas, 
Louisiana, Maine, Maryland, Minnesota, Mississippi, Missouri, Nebraska, North Dakota, 
Oklahoma, Oregon, Rhode Island, South Dakota, Tennessee, Utah, Vermont, and West Virginia 
challenging the constitutionality of each state’s 340B statute. 
 AstraZeneca has ongoing enforcement actions in Arkansas and Louisiana for alleged non-
compliance with each state's 340B statute. 
 The US Court of Appeals for the Fifth Circuit affirmed summary judgment in favor of Louisiana in 
February 2026. AstraZeneca has petitioned for rehearing. 
 In Hawaii, the court denied AstraZeneca's motion for a preliminary injunction in February 2026, 
which AstraZeneca has appealed. 
Other 
Additional government inquiries 
As is true for most, if not all, major prescription pharmaceutical companies, AstraZeneca is currently involved in multiple inquiries into 
drug marketing and pricing practices. In addition to the investigations described above, various law enforcement offices have, from 
time to time, requested information from the Group. There have been no material developments in those matters. 
 
 
Note 5: Subsequent events 
In April 2026, AstraZeneca closed the previously announced new strategic collaboration agreement with CSPC Pharmaceuticals (CSPC) 
to advance the development of multiple next-generation therapies for obesity and type 2 diabetes across eight programmes. Under 
this agreement, the companies will initially progress four programmes, which utilise CSPC's advanced AI-driven peptide drug discovery 
platform and their proprietary LiquidGel once-monthly dosing platform technology. AstraZeneca will pay an upfront payment of 
$1.2bn, the majority of which will be capitalised within Intangible assets in Q2 2026. CSPC is also eligible to receive development and 
regulatory milestones of up to $3.5bn across all programmes. CSPC will also be eligible for further commercialisation and sales 
milestones plus tiered royalties.

===== SIDA 33 =====

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33 
 
Note 6: Analysis of Revenue and Other operating income and expense 
Table 25: Product Sales year-on-year analysis: Q1 2026 
 
For the three months  World US Emerging Markets Europe Established RoW 
ended 31 March  Change  Change  Change  Change  Change 
 
$m  Act %  CER %  $m  Act %  $m  Act %  CER %  $m  Act %  CER %  $m  Act %  CER %  
Tagrisso 1,833  9  5  733  8  536  3  (1) 387  26  12  177  2  1  
Imfinzi 1,694  34  30  954  31  187  32  28  383  52  34  170  22  22  
Calquence 923  21  17  599  18  70  30  22  218  28  13  36  16  13  
Lynparza 781  8  2  308  (1) 174  8  (1) 239  22  8  60  4  3  
Enhertu 324  63  56  -  -  216  59  54  64  48  29  44  n/m n/m 
Zoladex 304  7  2  5  (2) 241  8  3  39  17  4  19  (10) (13) 
Truqap 198  50  47  138  24  18  n/m n/m 31  n/m 99  11  n/m n/m 
Imjudo 77  (5) (7) 49  (9) 6  28  24  13  20  6  9  (22) (22) 
Datroway 1  n/m n/m -  -  1  n/m n/m -  -  -  -  -  -  
Other Oncology 101  (8) (11) 2  (32) 72  (4) (8) 4  (23) (32) 23  (13) (12) 
Oncology 6,236  19  15  2,788  16  1,521  15  10  1,378  34  18  549  13  12  
Farxiga 2,193  7  (1) 449  17  924  6  (2) 778  14  -  42  (65) (67) 
Crestor 354  12  8  8  (28) 314  15  11  -  -  -  32  -  1  
Brilinta 105  (65) (67) 14  (92) 76  3  (2) 13  (77) (79) 2  (37) (43) 
Lokelma 199  30  26  79  14  45  47  41  41  59  43  34  23  24  
Seloken 180  12  7  -  -  174  12  7  5  10  10  1  (12) (20) 
roxadustat 43  (45) (47) -  -  43  (45) (47) -  -  -  -  -  -  
Wainua 51  29  28  45  15  2  n/m n/m 3  n/m n/m 1  -  -  
Other CVRM 115  (16) (20) (2) n/m 75  5  1  28  (27) (33) 14  (7) (7) 
CVRM 3,240  -  (6) 593  (14) 1,653  7  -  868  8  (5) 126  (37) (38) 
Symbicort 747  3  (1) 290  4  226  (3) (7) 152  12  -  79  4  (1) 
Fasenra 483  15  11  256  3  46  70  63  129  25  10  52  34  31  
Breztri 353  18  13  149  1  115  28  22  64  55  37  25  25  22  
Tezspire 149  73  58  -  -  20  n/m n/m 95  68  50  34  46  45  
Saphnelo 171  25  24  142  18  5  67  61  17  88  66  7  53  52  
Pulmicort 149  (6) (11) 2  (17) 122  (4) (9) 17  (11) (21) 8  (15) (18) 
Airsupra 37  31  31  33  18  4  n/m n/m -  -  -  -  -  -  
Other R&I 61  (37) (40) 8  (81) 27  (36) (37) 24  81  68  2  (8) (12) 
R&I 2,150  10  6  880  2  565  7  2  498  32  17  207  19  15  
Beyfortus 24  (19) (18) 23  (18) -  -  -  1  n/m n/m -  -  -  
FluMist 8  n/m n/m -  -  -  -  -  -  -  -  8  n/m n/m 
Other ID 58  (49) (53) -  n/m 40  (52) (56) 15  (42) (49) 3  (41) (41) 
ID* 90  (37) (41) 23  (15) 40  (52) (55) 16  (40) (47) 11  67  55  
Ultomiris 1,270  21  18  679  12  103  98  93  298  31  16  190  14  14  
Soliris 389  (12) (14) 216  (25) 113  73  67  32  (42) (49) 28  (19) (21) 
Strensiq 517  47  43  407  53  49  44  18  32  20  6  29  13  13  
Koselugo 170  24  15  42  (21) 61  54  39  49  45  28  18  69  69  
Other Rare Disease 74  28  18  28  7  21  47  21  20  32  16  5  n/m n/m 
Rare Disease 2,420  19  15  1,372  11  347  69  57  431  20  6  270  13  13  
Other Medicines 250  (7) (9) 23  22  192  (7) (9) 15  (23) (30) 20  (15) (17) 
Total Medicines 14,386  12  7  5,679  9  4,318  11  5  3,206  22  8  1,183  5  4  
The table provides an analysis of year-on-year Product Sales, with Actual and CER growth rates reflecting year-on-year growth. 
* ID: Infectious Disease

===== SIDA 34 =====

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34 
 
Table 26: Alliance Revenue: Q1 2026  
For the three months ended 31 March 2026  
$m  
2025  
$m  
Enhertu 508  398  
Tezspire 154  130  
Beyfortus 91  82  
Datroway 42  4  
Other royalty revenue 29  24  
Other Alliance Revenue 1  1  
Total 825  639  
Table 27: Collaboration Revenue: Q1 2026 
For the three months ended 31 March 2026  
$m  
2025  
$m  
Farxiga: sales milestones 44  74  
Crestor: sales milestones 32  -  
Other Collaboration Revenue 1  -  
Total 77  74  
 
Table 28: Other operating income and expense: Q1 2026 
For the three months ended 31 March 2026  
$m  
2025  
$m  
Total 189 113

===== SIDA 35 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
35 
 
 
Financial calendar 
– Announcement of H1 and Q2 2026 results: 27 July 2026 
Dividend payment dates  
Dividends are normally paid as follows: 
– First interim:  Announced with the half-year results and paid in September 
– Second interim: Announced with the full-year results and paid in March 
Dividend dates 
Dividend Announced 
 
Ex-dividend date1: 
LSE, Nasdaq Stockholm 
Ex-dividend date1: 
NYSE 
Record date Payment date 
FY 2026 First interim2  27 Jul 2026 6 Aug 2026 7 Aug 2026 7 Aug 2026 8 Sep 2026 
The completion of cross-border movements of shares by intermediaries between the London Stock Exchange, Nasdaq Stockholm and 
the New York Stock Exchange is subject to the receiving broker identifying and confirming such movements. Where a cross-border 
movement of shares is initiated but not completed by the relevant dividend record dates (provisionally, 7 August 2026), the dividend in 
respect of those shares will be received in the originating market on the relevant dividend payment date. 
Accordingly, shareholders are advised not to initiate any cross-border movements of shares during the period from 5 August 2026 to 
7 August 2026 (inclusive) in respect of the FY 2026 First interim dividend2. 
 
1.  The ex-dividend dates for the principal markets differ due to the different settlement cycles currently applicable for shares trading on the London Stock Exchange, 
Nasdaq Stockholm and the New York Stock Exchange. Shareholders should consider the applicable ex-dividend date for the securities they hold in each market. 
2. Provisional dates, subject to Board approval. 
Contact details 
For Investor Relations contacts, click here. For Media contacts, click here. 
Addresses for correspondence  
Registered office UK Registrar and Transfer Office Swedish Central Securities 
Depository 
US Registrar and Transfer Agent  
1 Francis Crick Avenue 
Cambridge Biomedical Campus 
Cambridge 
CB2 0AA 
Computershare Investor Services PLC 
The Pavilions 
Bridgwater Road 
Bristol 
BS99 6ZZ 
Euroclear Sweden AB 
PO Box 191 
SE-101 23 Stockholm 
Computershare Investor Services 
PO Box 43078 
Providence 
RI, 02940-3078 
 
UK UK Sweden US 
+44 (0) 20 3749 5000 0800 707 1682 (UK only) +46 (0) 8 402 9000 +1 (888) 697 8018 (US only) 
 +44 (0) 370 707 1682  +1 (781) 575 2844 
Trademarks 
Trademarks of the AstraZeneca group of companies appear throughout this document in italics. Medical publications also appear 
throughout the document in italics. AstraZeneca, the AstraZeneca logotype and the AstraZeneca symbol are all trademarks of the 
AstraZeneca group of companies. Trademarks of companies other than AstraZeneca that appear in this document include: Beyfortus, a 
trademark of Sanofi Pasteur Inc.; Enhertu and Datroway, trademarks of Daiichi Sankyo; Seloken, owned by AstraZeneca or Taiyo 
Pharma Co., Ltd (depending on geography); Synagis, owned by AstraZeneca or Sobi aka Swedish Orphan Biovitrum AB (publ). 
(depending on geography); and Tezspire, a trademark of Amgen, Inc. 
Information on or accessible through AstraZeneca's websites, including astrazeneca.com, does not form part of and is not incorporated 
into this announcement.  
Other shareholder information

===== SIDA 36 =====

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36 
 
AstraZeneca 
AstraZeneca (LSE/STO/NYSE: AZN) is a global, science-led biopharmaceutical company that focuses on the discovery, development, and 
commercialisation of prescription medicines in Oncology, Rare Diseases, and BioPharmaceuticals, including Cardiovascular, Renal & 
Metabolism, and Respiratory & Immunology. Based in Cambridge, UK, AstraZeneca’s innovative medicines are sold in more than 125 
countries and used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Social Media 
@AstraZeneca. 
Cautionary statements regarding forward-looking statements 
In order, among other things, to utilise the 'safe harbour' provisions of the US Private Securities Litigation Reform Act of 1995, 
AstraZeneca (hereafter 'the Group') provides the following cautionary statement: 
This document contains certain forward-looking statements with respect to the operations, performance and financial condition of the 
Group, including, among other things, statements about expected revenues, margins, earnings per share or other financial or other 
measures. Although the Group believes its expectations are based on reasonable assumptions, any forward-looking statements, by their 
very nature, involve risks and uncertainties and may be influenced by factors that could cause actual outcomes and results to be 
materially different from those predicted. The forward-looking statements reflect knowledge and information available at the date of 
preparation of this document and the Group undertakes no obligation to update these forward-looking statements. The Group identifies 
the forward-looking statements by using the words 'anticipates', 'believes', 'expects', 'intends' and similar expressions in such 
statements. Important factors that could cause actual results to differ materially from those contained in forward-looking statements, 
certain of which are beyond the Group's control, include, among other things: 
– the risk of failure or delay in delivery of pipeline or launch of new medicines  
– the risk of failure to meet regulatory or ethical requirements for medicine development or approval  
– the risk of failures or delays in the quality or execution of the Group’s commercial strategies  
– the risk of pricing, affordability, access and competitive pressures 
– the risk of failure to maintain supply of compliant, quality medicines  
– the risk of illegal trade in our Group’s medicines  
– the risk of reliance on third-party goods and services  
– the risk of failure in IT or cybersecurity  
– the risk of failure of critical processes  
– the risk of failure to collect and manage data and AI in line with legal and regulatory requirements and strategic objectives  
– the risk of failure to attract, develop, engage and retain a diverse, talented and capable workforce  
– the risk of failure to meet our sustainability targets, regulatory requirements or stakeholder expectations with respect to the 
environment  
– the risk of failure to meet regulatory and ethical expectations on commercial practices, including anti-bribery/ anti-corruption, anti-
fraud and scientific exchanges  
– the risk of the safety and efficacy of marketed medicines being questioned  
– the risk of adverse outcome of litigation and/or governmental investigations  
– intellectual property-related risks to the Group’s products  
– the risk of failure to achieve strategic plans or meet targets or expectations  
– the risk of geopolitical and/or macroeconomic volatility disrupting the operation of our global business  
– the risk of failure in internal control, financial reporting or the occurrence of fraud  
– the risk of unexpected deterioration in the Group’s financial position.

===== SIDA 37 =====

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37 
 
1L, 2L, etc First line, second line, etc 
AACR American Association for Cancer Research 
aHUS Atypical haemolytic uraemic syndrome 
ALK Anaplastic lymphoma kinase gene 
ATTR / -CM / -PN Transthyretin-mediated amyloid / 
cardiomyopathy / polyneuropathy 
AUC Area under the curve 
BTKi Bruton tyrosine kinase inhibitor 
CER Constant exchange rates 
CI Confidence interval 
CKD Chronic kidney disease 
CLL Chronic lymphocytic leukaemia 
CN China 
COPD Chronic obstructive pulmonary disease 
CRSwNP Chronic rhinosinusitis with nasal polyps 
CSPC Castration-sensitive prostate cancer 
CSA-AKI Cardiac surgery-associated acute kidney injury 
CVRM Cardiovascular, Renal and Metabolism 
EBITDA Earnings before interest, tax, depreciation and 
amortisation 
EGFR / m Epidermal growth factor receptor gene / 
mutation 
EGPA Eosinophilic granulomatosis with polyangiitis 
EPS Earnings per share 
ERBB2 v-erb-b2 avian erythroblastic leukemia viral 
oncogene homologue 2 
EU Europe (in financial tables) or European Union 
EVH Extravascular haemolysis 
FDC Fixed dose combination 
FEV Forced expectorant volume 
FLOT Fluorouracil, oxaliplatin and docetaxel  
FY Full year / Financial year 
GAAP Generally Accepted Accounting Principles 
GEJ Gastro oesophageal junction 
GI Gastrointestinal 
gMG Generalised myasthenia gravis 
GU Genito-urinary 
GYN Gynecological 
HCC Hepatocellular carcinoma 
HER2 / +/- /low /m Human epidermal growth factor receptor 2 gene 
/ positive / negative / low expression / mutant 
HF/ pEF / rEF  Heart failure / with preserved ejection fraction / 
with reduced ejection fraction 
HPP Hypophosphatasia 
IAS / B International Accounting Standards / Board 
ICS Inhaled corticosteroid 
ID Infectious Disease 
IFRS International Financial Reporting Standards 
IgAN Immunoglobulin A neuropathy 
IHC Immunohistochemistry 
IL-5, IL-33, etc Interleukin-5, interleukin-33, etc  
IO Immuno-oncology 
ISH In situ hybridization 
JP Japan 
KRAS / m Kirsten rat sarcoma gene / mutation 
LABA Long-acting beta-agonist 
LAMA Long-acting muscarinic-agonist 
MCL Mantle cell lymphoma 
MET Mesenchymal-epithelial transition 
n/m Growth rate not meaningful 
NF1 Neurofibromatosis type 1 
NMOSD Neuromyelitis optica spectrum disorder 
NRDL National reimbursement drug list 
NSCLC Non-small cell lung cancer 
PARP Poly ADP ribose polymerase 
PFS Progression free survival 
PNH Paroxysmal nocturnal haemoglobinuria 
PR Partial responce 
R&I Respiratory & Immunology 
SC Subcutaneous 
SEC Securities Exchange Commission (US) 
SG&A Sales, general and administration 
SGLT2 Sodium-glucose cotransporter 2 
SLE Systemic lupus erythematosus 
TACE Transarterial chemoembolisation 
TNBC Triple negative breast cancer 
VBP Volume-based procurement 
 
 
Glossary