Kvartalsrapport Q2 2026

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Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
 
1 
 
 
 
 
27 July 2026 
AstraZeneca results: H1 and Q2 2026 
Growth momentum continues. On track to deliver ambition of $80 billion in Total Revenue in 2030 
Revenue and EPS summary 
 H1 2026          % Change Q2 2026          % Change 
 $m  Actual  CER1  $m  Actual  CER 
 - Product Sales 28,896  8  5  14,510  5  4  
 - Alliance Revenue 1,699  31  29  874  34  33  
Product Revenue 30,595  9  6  15,384  6  5  
Collaboration Revenue 77  (6) (9) -  n/m n/m 
Total Revenue 30,672  9  6  15,384  6  5  
Reported EPS ($) 3.60  4  3  1.61  2  (2) 
Core2 EPS ($) 5.21  12  11  2.63  21  18  
 
Key performance elements for H1 2026 
(Growth numbers at constant exchange rates) 
 Total Revenue up 6%, with double-digit growth in 
Oncology and Rare Disease offsetting headwinds from 
Farxiga US loss of exclusivity and China volume-based 
procurement 
 Core Operating profit and Core EPS increased 11% 
 Interim dividend increased 3 cents to $1.06 per share 
(79.5 pence, 10.32 SEK)  
 30 approvals in major regions since Q4 2025 results
 
Pascal Soriot, Chief Executive Officer, AstraZeneca, said: 
“In the first half we saw strong performance and continued pipeline 
delivery, including six key positive Phase III programmes and eight 
first approvals in major markets, including in the US for Baxfendy, 
our first-in-class medicine for hypertension. 
While we are disappointed by the CARDIO-TTRansform outcome, 
we are on track to deliver our $80bn Total Revenue ambition, which 
assumes successes and setbacks. We remain confident in the 
strength of our pipeline and have more than twenty high-value 
readouts due over the next 18 months. 
We continue to invest at pace in our transformative technologies, 
and in our commercial execution to bring our innovative medicines to 
patients around the globe and drive growth beyond 2030.” 
 
 
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 July 2026 to December 2026 were to remain at the average rates seen in June 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  
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Contents 
Results highlights ...................................................................................................................................................................................... 3 
Revenue drivers ........................................................................................................................................................................................ 6 
R&D progress .......................................................................................................................................................................................... 12 
Sustainability .......................................................................................................................................................................................... 16 
Operating and financial review............................................................................................................................................................... 17 
Financial performance ............................................................................................................................................................................ 18 
Responsibility statement of the directors in respect of the half-yearly financial report ........................................................................ 23 
Independent review report to AstraZeneca PLC .................................................................................................................................... 24 
Interim financial statements .................................................................................................................................................................. 25 
Notes to the Interim financial statements ............................................................................................................................................. 30 
Glossary .................................................................................................................................................................................................. 43 
 
Table 1: Milestones achieved since the prior results announcement ...................................................................................................... 3 
Table 2: Key elements of financial performance: Q2 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........................................................................................................................................................... 18 
Table 9: Reconciliation of Reported Profit before tax to EBITDA ........................................................................................................... 18 
Table 10: Reconciliation of Reported to Core financial measures: H1 2026 .......................................................................................... 18 
Table 11: Reconciliation of Reported to Core financial measures: Q2 2026 .......................................................................................... 19 
Table 12: Cash Flow summary: H1 2026 ................................................................................................................................................. 20 
Table 13: Net debt summary .................................................................................................................................................................. 20 
Table 14: Obligor group summarised statement of comprehensive income: H1 2026 .......................................................................... 21 
Table 15: Obligor group summarised statement of financial position ................................................................................................... 21 
Table 16: Currency sensitivities .............................................................................................................................................................. 22 
Table 17: Condensed consolidated statement of comprehensive income: H1 2026 ............................................................................. 25 
Table 18: Condensed consolidated statement of comprehensive income: Q2 2026 ............................................................................. 26 
Table 19: Condensed consolidated statement of financial position....................................................................................................... 27 
Table 20: Condensed consolidated statement of changes in equity ...................................................................................................... 28 
Table 21: Condensed consolidated statement of cash flows: H1 2026 .................................................................................................. 29 
Table 22: Net debt .................................................................................................................................................................................. 31 
Table 23: Product Sales year-on-year analysis: H1 2026 ........................................................................................................................ 38 
Table 24: Product Sales year-on-year analysis: Q2 2026 (Unreviewed) ................................................................................................. 39 
Table 25: Alliance Revenue: H1 2026 ..................................................................................................................................................... 40 
Table 26: Collaboration Revenue: H1 2026 ............................................................................................................................................ 40 
Table 27: Other operating income and expense: H1 2026 ..................................................................................................................... 40

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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 VOLGA MIBC not candidates for cisplatin Primary endpoint met 
Imfinzi EMERALD-2 Adjuvant HCC Primary endpoint not met 
Imfinzi NILE 1L bladder cancer Primary endpoint met 
sone-ve CLARITY-Gastric01 2L+ Cldn18.2+ gastric/GEJ cancer Primary endpoint met 
Wainua CARDIO-TTRansform ATTR-CM Primary endpoint not met 
Ultomiris TMA-313 HSCT-TMA (adults) Primary endpoint not met 
Ultomiris ALXN1210-MG-319 gMG (paediatric) Primary endpoint met 
Regulatory approvals 
Medicine Trial Indication Region 
Calquence AMPLIFY 1L CLL (fixed duration) JP 
Datroway TROPION-Breast02 1L TNBC for patients where immunotherapy is not an option US 
Enhertu DESTINY-Breast05 High-risk HER2+ early breast cancer (post-neoadjuvant) US 
Enhertu DESTINY-Breast11 Neoadjuvant HER2+ Stage II or III breast cancer US 
Enhertu DESTINY-PanTumor02 
/ DESTINY-Lung01 / 
DESTINY-CRC02 
HER2-positive solid tumours EU 
Etcamah 
(camizestrant) 
SERENA-6 ESR1m HR+ HER2- 1L locally advanced or metastatic 
breast cancer 
EU, JP 
Imfinzi POTOMAC NMIBC US 
Imfinzi MATTERHORN Resectable gastric/GEJ cancer JP 
Orphathys NCT04923932 3L+ MET+ gastric/GEJ cancer CN 
Truqap CAPItello-281 PTEN-deficient mHSPC US 
Baxfendy BaxHTN Hypertension US 
Fasenra NATRON Hypereosinophilic syndrome US, EU, JP, CN 
Regulatory submissions or acceptances* in major regions 
Medicine Trial Indication Region 
Baxfendy BaxHTN / Bax24 / 
BaxAsia 
Hypertension JP 
tozorakimab OBERON / TITANIA / 
MIRANDA / 
PROSPERO 
COPD EU, CN 
Ultomiris I CAN IgAN US, JP 
efzimfotase alfa MULBERRY / 
CHESTNUT / HICKORY 
HPP JP 
* 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: Q2 2026 
 
For the quarter  Reported      Change Core       Change  
ended 30 June $m  Act CER $m  Act CER  
Product Revenue 15,384  6  5  15,384  6  5   See Tables 3, 7, 23, 24 and 25 for further details of 
Product Revenue, Product Sales and Alliance Revenue 
Collaboration 
Revenue 
-  n/m  n/m -  n/m  n/m  See Tables 4 and 26 for further details of Collaboration 
Revenue 
Total Revenue 15,384  6  5  15,384  6  5   See Tables 5 and 6 for Total Revenue by Therapy Area 
and by region 
Gross Margin (%) 84  +1pp -  84  +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 
− Pricing headwinds, including those driven by loss of 
exclusivity and VBP in China 
R&D expense 4,053  14  13  3,662  6  5   Core R&D: 24% of Total Revenue 
+ Increasing number of trials, and patients in those trials 
+ Investments in transformative technologies 
+ 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  5,651  16  14  4,050  7  4   Core SG&A: 26% of Total Revenue 
+ Investment to support ongoing and future launches 
Other operating 
income and expense4  
152  92 93   152  >2x  >2x  + Various partner milestones 
Operating profit 3,164 (10)  (13) 5,158   12  10   
Operating Margin (%) 21  -4pp -4pp 34  +2pp +2pp  
Net finance expense  355  (4) (8)  340  13  8  + Lower interest income on short-term deposits 
− Reported Net finance expense benefitted from a lower 
discount unwind on contingent consideration liabilities 
Tax rate (%) 10  -11pp  -11pp  
 
15  -6pp  -6pp  − Benefit from adjustments to deferred tax assets, as a 
result of certain internal legal entity changes. 
 Variations in the tax rate can be expected between 
periods 
EPS ($) 1.61  2  (2) 2.63  21  18   
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  
 
Dizal Pharmaceutical Co 
In July 2026, AstraZeneca entered into an 
exclusive license agreement with Dizal 
Pharmaceutical Co (Dizal), Ltd for Zegfrovy 
(sunvozertinib), a novel oral irreversible 
EGFR inhibitor for patients with lung 
cancer.  
AstraZeneca will acquire worldwide rights 
to develop and commercialise Zegfrovy, 
which is approved in the US and China for 
the treatment of adult patients with locally 
advanced or metastatic NSCLC with EGFR 
exon 20 insertion mutations, whose 
disease has progressed on or after 
platinum-based chemotherapy. 
AstraZeneca will make an upfront payment 
to Dizal of $600m and additional payments 
of up to $900m upon achievement of 
specific development, regulatory and 
sales-related milestones. Additionally, 
Dizal will receive tiered royalties on the 
global sales of Zegfrovy. The transaction is 
expected to close in the second half of 
2026, subject to customary closing 
conditions and regulatory clearances.
Sino Biopharmaceutical 
In July 2026, AstraZeneca and Chia Tai 
Tianqing Pharmaceutical Group Co., Ltd. 
(CTTQ), a subsidiary of Sino 
Biopharmaceutical Limited, entered into 
an exclusive licence agreement for the 
development, manufacturing and 
commercialisation of CTTQ’s PDE3/4 
inhibitor, TQC3721, which is being 
developed for respiratory indications. 
Sino Biopharmaceutical Limited is eligible 
to receive an upfront payment of $200m, 
with additional development, regulatory 
and sales milestones up to $1.9bn, as well 
as tiered royalties ranging up to double-
digit percentages based on the annual net 
sales of TQC3721 products. 
The agreement is subject to customary 
closing conditions, including regulatory 
clearances. 
 
 
Sustainability highlights 
In July 2026, AstraZeneca hosted a call for 
investors to discuss the latest 
developments in its Sustainability strategy. 
A replay of the call is available on 
astrazeneca.com. 
Reporting calendar  
The Company intends to publish its 9M 
and Q3 2026 results on 30 October 2026. 
Conference call 
A conference call and webcast for 
investors and analysts will begin today, 
27 July 2026, at 11:45 UK time. Details can 
be accessed via astrazeneca.com.
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 Tables 10 
and 11 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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Table 3: Product Revenue (PR) by medicine 
  H1 2026          % Change Q2 2026              % Change 
   
$m  % Total  Actual  CER  $m  % Total Actual  CER  
Tagrisso 3,775  12  8  6  1,941  13  7  6  
Imfinzi 3,548  12  31  29  1,854  12  27  27  
Calquence 1,944  6  19  16  1,022  7  17  16  
Lynparza 1,610  5  3  (1) 829  5  (1) (3) 
Enhertu 1,719  6  36  32  888  6  33  31  
Zoladex 631  2  7  3  316  2  7  3  
Truqap 431  1  43  41  233  2  37  37  
Imjudo 160  1  (6) (7) 83  1  (7) (7) 
Datroway 98  -  >6x  >6x  55  -  >5x  >5x  
Etcamah 3  -  n/m  n/m  3  -  n/m  n/m  
Other Oncology 204  1  (6) (8) 102  1  (4) (5) 
Oncology PR 14,123  46  18  15  7,326  48  16  15  
Farxiga 3,998  13  (5) (11) 1,804  12  (16) (19) 
Crestor 686  2  8  4  332  2  4  1  
Lokelma 419  1  28  26  221  1  26  26  
Seloken 337  1  9  5  157  1  6  2  
Brilinta 186  1  (64) (66) 80  1  (62) (63) 
Wainua 121  -  44  44  70  -  58  58  
roxadustat  57  -  (63) (64) 14  -  (81) (82) 
Baxfendy 3  -  n/m  n/m  3  -  n/m  n/m  
Other CVRM 206  1  (25) (28) 91  1  (34) (35) 
Cardiovascular, Renal & Metabolism PR 6,013  20  (8) (12) 2,772  18  (15) (18) 
Symbicort 1,418  5  (1) (4) 671  4  (6) (8) 
Fasenra 1,053  3  14  12  570  4  14  13  
Breztri 699  2  20  17  346  2  22  20  
Tezspire 694  2  43  40  390  3  46  45  
Saphnelo 380  1  25  24  209  1  25  24  
Pulmicort 269  1  2  (3) 120  1  13  9  
Airsupra 87  -  24  23  50  -  19  18  
Other R&I 150  -  (13) (15) 75  -  11  8  
Respiratory & Immunology PR 4,750  16  12  9  2,431  16  13  11  
Beyfortus 194  1  (18) (18) 79  1  (37) (37) 
FluMist 26  -  >2x  >2x  18  -  79  78  
Other ID 92  -  (43) (47) 34  -  (31) (34) 
Infectious Disease PR 312  1  (24) (26) 131  1  (29) (30) 
Ultomiris 2,584  8  16  14  1,314  9  12  12  
Soliris 778  3  (20) (22) 389  3  (27) (28) 
Strensiq 1,053  3  41  40  536  3  36  36  
Koselugo 347  1  26  21  177  1  29  27  
Other Rare Disease 149  -  32  25  74  -  36  33  
Rare Disease PR 4,911  16  13  11  2,490  16  9  8  
Other Medicines PR 486  2  (6) (8) 234  2  (4) (6) 
Product Revenue 30,595  100  9  6  15,384  100  6  5  
            
Alliance Revenue included above:            
Enhertu 1,058  3  27  24  550  4  26  24  
Tezspire 372  1  31  31  218  1  41  41  
Beyfortus 123  -  12  12  32  -  14  14  
Datroway 93  -  >6x  >6x  51  -  >4x  >4x  
Other royalty revenue 51  -  10  10  22  -  (4) (4) 
Other Alliance Revenue 2  -  (22) (22) 1  -  (42) (42) 
Alliance Revenue 1,699  6  31  29  874  6  34  33  
 
 
Revenue drivers

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Table 4: Collaboration Revenue 
 H1 2026          % Change Q2 2026              % Change 
 
$m    Actual  CER  $m   Actual  CER  
Farxiga: sales milestones 44   (43) (45) -  n/m n/m 
Crestor: sales milestones 32   n/m n/m -  n/m n/m 
Others 1   n/m n/m -  n/m n/m 
Collaboration Revenue 77   (6) (9) -  n/m n/m 
Table 5: Total Revenue by Therapy Area 
 H1 2026          % Change Q2 2026              % Change 
 
$m   % Total  Actual  CER   $m  % Total Actual  CER  
Oncology 14,124  46  18  15  7,327  48  16  15  
- Cardiovascular, Renal & Metabolism 6,089  20  (8) (12) 2,772  18  (15) (18) 
- Respiratory & Immunology 4,750  15  12  9  2,431  16  13  11  
- Infectious Disease 312  1  (24) (26) 131  1  (29) (30) 
BioPharmaceuticals 11,151  36  (1) (5) 5,334  35  (5) (7) 
Rare Disease 4,911  16  13  11  2,490  16  9  8  
Other Medicines 486  2  (7) (9) 233  2  (7) (8) 
Total Revenue 30,672  100  9  6  15,384  100  6  5  
Table 6: Total Revenue by region 
 H1 2026          % Change Q2 2026              % Change 
 $m   % Total  Actual  CER  $m  % Total Actual  CER  
US 12,890  42  8  8  6,686  43  6  6  
- Emerging Markets ex. China 4,809  16  15  10  2,334  15  14  11  
- China 3,510  11  -  (5) 1,587  10  (7) (13) 
Emerging Markets 8,319  27  8  3  3,921  25  4  -  
Europe 6,822  22  17  8  3,417  22  11  7  
Established RoW 2,641  9  3  5  1,361  9  4  8  
Total Revenue 30,672  100  9  6  15,384  100  6  5  
Table 7: Product Revenue by region 
 H1 2026          % Change Q2 2026              % Change 
 $m   % Total  Actual  CER  $m  % Total Actual  CER  
US 12,889  42  8  8  6,685  43  6  6  
- Emerging Markets ex. China 4,809  16  15  10  2,334  15  14  11  
- China 3,510  11  -  (5) 1,587  10  (7) (13) 
Emerging Markets 8,319  27  8  3  3,921  25  4  -  
Europe 6,822  22  17  8  3,417  22  11  7  
Established RoW 2,565  8  4  6  1,361  9  4  9  
Total Product Revenue 30,595  100  9  6  15,384  100  6  5

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Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
8 
 
Total Revenue by Medicine 
Oncology 
Tagrisso  
H1 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 1,579  10  10    Robust underlying demand 
Emerging Markets 1,048  4  -    More competitive environment in China in a slowing EGFRm TKI market 
Europe 769  17  8    
Established RoW 379  (1) 2    Recent competitor entrant 
Total 3,775  8  6    
Imfinzi 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Strong demand growth across all regions from existing indications and new 
launches 
US 2,008  28  28    Demand growth led by new GI and GU launches (MATTERHORN, NIAGARA) 
Emerging Markets 398  35  32    Strong growth in GI (HIMALAYA, TOPAZ) including new launches (MATTERHORN) 
Europe 781  45  34    Early momentum for new lung (ADRIATIC), GI (MATTERHORN) and GU (NIAGARA) 
launches 
Established RoW 361  15  20    Demand growth from new launches across GYN (DUO-E), GU (NIAGARA) and lung 
(ADRIATIC, AEGEAN) 
Total 3,548  31  29    
Calquence  
H1 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 1,286  18  18    Strong demand growth from ongoing leadership in front-line CLL BTKi market 
Emerging Markets 137  33  26    
Europe 442  20  11    Further expansion in finite use for 1L CLL and 1L MCL 
Established RoW 79  9  7    
Total 1,944  19  16    
Lynparza 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Global leadership in mature first-generation PARPi market 
US 659  (4) (4)   Demand growth offset by channel mix and inventory destocking 
Emerging Markets 343  6  (1)   Affected by generic competition in China and VBP implementation 
Europe 480  13  4    Continued uptake in prostate (PROpel) and breast (OlympiA) indications 
Established RoW 128  1  3    
Total 1,610  3  (1)

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Enhertu 
Combined sales of Enhertu, recorded by Daiichi Sankyo and AstraZeneca, amounted to $2,961m in H1 2026 (H1 2025: $2,289m). US 
in-market sales, recorded by Daiichi Sankyo, amounted to $1,440m in H1 2026 (H1 2025: $1,128m). For periods up to and including Q3 
2025, AstraZeneca’s mid-single-digit percentage royalty on Daiichi Sankyo's sales in Japan is recorded in Europe; from Q4 2025 this 
royalty is recorded in Established RoW. 
H1 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  694  28  28    Ongoing adoption in 1L HER2-positive breast cancer (DESTINY-Breast09) 
Emerging Markets 528  45  41    Continued adoption post-NRDL enlistment of HER2-positive and HER2-low breast 
cancer from 1 January 2025 
Europe 401  28  18    Further demand growth in chemotherapy naïve HER2-low breast cancer 
Established RoW 96  >2x  >2x    
Total 1,719  36  32    
Other Oncology medicines 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Zoladex 632  8  3    Growth across Emerging Markets 
Truqap 431  43  41    Achieved peak share in second-line biomarker-altered metastatic breast cancer 
Imjudo  160  (6) (7)   Continued GI (HIMALAYA) growth ex-US, offset by US destocking and lower 
demand in some markets   
Datroway 98  >7x  >6x  
 
 Continued uptake in breast cancer and EGFRm later-line lung cancer 
 Combined global sales by AstraZeneca and Daiichi Sankyo: $225m (H1 2025: 
$45m) 
Etcamah 3 n/m n/m   Sales from first launch markets 
Other Oncology 204  (6) (8)   Generic erosion across markets 
Other Oncology includes $14m of Total Revenue from Orpathys, partnered with HUTCHMED. 
BioPharmaceuticals – Cardiovascular, Renal & Metabolism 
Farxiga 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Growth impacted by US LoE and China VBP  
US 668  (17) (17)   Multiple generics launched in Q2 2026 
Emerging Markets 1,618  (6) (13)   Affected by generic competition and VBP implementation in China in Q1 2026 
Europe 1,586  10  1    Demand growth offset by generic entry in the UK in Q3 2025 
Established RoW 169  (44) (45)   Generic T2D entry in Japan in Q4 2025. Milestone receipt in Q1 2026 
Total 4,042  (6) (11)   
 
Other CVRM medicines 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Crestor 719  13  9    Growth driven by Emerging Markets and Est. RoW. Milestone receipt in Q1 2026 
Lokelma 419  28  26    Strong growth in all major regions 
Seloken 337  9  5    Growth driven by Emerging Markets  
Brilinta 186  (64) (66)   Decline driven by generic entry in the US and Europe in Q2 2025 
Wainua 121  44  44    Demand growth in ATTR-PN and geographic expansion 
roxadustat 57  (63) (64)   Affected by generic competition in China and VBP implementation in Q1 2026 
Baxfendy 3  n/m n/m   US launch in hypertension in Q2 2026 
Other CVRM 206  (25) (28)   Generic erosion

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
10 
 
BioPharmaceuticals - Respiratory & Immunology 
Symbicort  
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Market leader in ICS/LABA class with increasing generic competition 
US 545  (9) (9)   New generic competitor entered the market  
Emerging Markets 417  4  -    
Europe 296  9  1    
Established RoW 160  (5) (8)   
Total 1,418  (1) (4)   
Fasenra 
H1 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 594  7  7    Strong demand with expanded IL-5 class leadership partially offset by Q1 
inventory movement and gross-to-net adjustments  
Emerging Markets 92  75  69    Strong China uptake post Q1 2026 NRDL listing with growth in other key markets 
Europe 258  13  4    Increased leadership in severe eosinophilic asthma partially offset by pricing 
Established RoW 109  31  33    Strong growth supported by EGPA in Japan 
Total 1,053  14  12    
Breztri 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Fastest growing medicine within the expanding FDC triple class (ICS/LABA/LAMA) 
US 309  5  5    Consistent share growth offset by unfavourable gross-to-net adjustments. 
 Approval for asthma in April 2026 
Emerging Markets 208  34  27    Market share leadership within FDC triple class in China 
Europe 127  45  34    Sustained growth from market share gains 
Established RoW 55  24  24    
Total 699  20  17    
Tezspire 
Combined sales of Tezspire, recorded by Amgen and AstraZeneca, amounted to $1,150m in H1 2026 (H1 2025: $826m). 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Sustained demand growth in severe asthma with launch momentum across 
multiple markets 
US 372  31  31    Continued strong demand growth in severe asthma and launch of CRSwNP 
Emerging Markets 44  >2x  >2x    Strong continued uptake 
Europe 202  57  46    Continued new-to-brand leadership across multiple markets and market growth 
Established RoW 75  39  43    
Total 694  43  40    
Other R&I medicines 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Saphnelo 380  25  24    Strong US demand growth, ongoing launches in Europe and Established RoW 
Pulmicort 269  2  (3)   Continued pressure in China, Europe, and Established RoW  
Airsupra 87  24  23    US demand volume growth 
Other R&I 150  (13) (15)   
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. 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Beyfortus 194  (18) (18)   Partner’s adjustment of inventory levels 
FluMist 26  >2x  >2x    
Other ID 92  (43) (47)   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. 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Growth due to patient demand, both naïve to C5 medicines and conversion from 
Soliris across all indications (gMG, NMOSD, aHUS and PNH)  
US 1,398  10  10    Demand growth across indications, including within the competitive gMG and 
PNH landscapes 
Emerging Markets 190  68  65    Expansion into new markets and growth in patient demand 
Europe 605  22  12    Demand growth following launches; competition in gMG and PNH 
Established RoW 391  13  17    Continued conversion and strong patient demand  
Total 2,584  16  14    
Soliris 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Decline driven by conversion of patients to Ultomiris across all indications, 
competition in gMG and PNH 
US 414  (27) (27)   Affected by biosimilar pressure 
Emerging Markets 248  10  6    Growth from launches 
Europe 61  (46) (50)   Affected by biosimilar pressure in PNH and aHUS 
Established RoW 55  (20) (21)   
Total 778  (20) (22)   
Strensiq 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 Growth driven by continued HPP patient demand  
US 859  47  47    
Emerging Markets 65  30  13    
Europe 68  20  10    Demand growth following new launches   
Established RoW 61  10  14    
Total 1,053  41  40    
Other Rare Disease medicines 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Koselugo 347 26  21    Continued patient demand and geographic expansion. Strong uptake following 
launch of adult indication. US growth offset by competitive pressures 
Other Rare Disease  149 32  25    Other Rare Disease medicines include Kanuma and Beyonttra (JP only)  
Other Medicines 
H1 2026 
$m 
Total  
Revenue  
% Change        
Actual        CER  
 
 
Other Medicines 486  (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 29 April 2026 up to and including 26 July 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 Society of Clinical Oncology Annual Meeting 2026 (ASCO). At this meeting, more than 85 abstracts were 
presented featuring 23 approved and potential new medicines including 25 oral presentations. 
Calquence 
Approval 
JP 
AMPLIFY 
June 2026 
New disclosure 
 As time-limited treatment (fixed-duration regimen) in combination with venetoclax 
for the treatment of adult patients with chronic lymphocytic leukaemia (including 
small lymphocytic lymphoma). 
Datroway 
Approval 
US 
TROPION-Breast02 
May 2026 
 Unresectable or metastatic TNBC not candidates for PD-1/PD-L1 inhibitor therapy. 
CHMP opinion 
EU 
TROPION-Breast02 
June 2026 
 1st-line treatment of unresectable or metastatic TNBC not candidates for PD-1/PD-L1 
inhibitor therapy. 
Enhertu 
Approval 
US 
DESTINY-Breast05 
May 2026 
 
 As adjuvant treatment for HER2-positive (IHC 3+ or ISH+) breast cancer with residual 
invasive disease following neoadjuvant trastuzumab (with or without pertuzumab) 
and taxane-based treatment. 
Approval 
US 
DESTINY-Breast11 
May 2026 
 
 As neoadjuvant treatment for HER2-positive (IHC 3+ or ISH+) Stage II or III breast 
cancer, as determined by an FDA-authorised test followed by a taxane, trastuzumab, 
and pertuzumab. 
Approval 
EU 
DESTINY-
PanTumor02 / 
DESTINY-Lung01 / 
DESTINY-CRC02 
June 2026 
 As monotherapy for the treatment of unresectable or metastatic HER2-positive (IHC 
3+) solid tumours who have received prior treatment and who have no satisfactory 
treatment options. 
CHMP opinion 
EU 
DESTINY-Breast09 
July 2026 
New disclosure 
 In combination with pertuzumab for the 1st-line treatment of adult patients with 
unresectable or metastatic HER2-positive breast cancer. 
Etcamah (camizestrant) 
Approval 
EU 
SERENA-6 
July 2026 
 
 In combination with a CDK4/6 inhibitor (palbociclib, ribociclib, or abemaciclib) for ER-
positive, HER2-negative, locally advanced or metastatic breast cancer upon detection 
of ESR1 mutation and without disease progression during first-line endocrine therapy 
in combination with a CDK4/6 inhibitor. 
Approval 
JP 
SERENA-6 
June 2026 
New disclosure 
 Inoperable or recurrent hormone receptor-positive, HER2-negative breast cancer 
with ESR1 mutation confirmed during endocrine therapy and no disease progression 
has been observed. 
 
R&D progress

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
13 
 
Imfinzi 
Phase III readout VOLGA 
May 2026 
 Perioperative treatment with Imfinzi in combination with neoadjuvant enfortumab 
vedotin demonstrated statistically significant and clinically meaningful improvements 
in EFS and OS in patients with MIBC versus standard of care. 
Phase III data 
presentation 
EMERALD-3 
June 2026 
 Positive results from the EMERALD-3 Phase III trial demonstrated the STRIDE regimen 
combined with lenvatinib and TACE demonstrated a 30% reduction in the risk of 
disease progression or death versus TACE alone (PFS HR 0.70; 95% CI 0.57-0.86; 
p=0.0007). The median PFS was 13.0 months for this regimen versus 9.8 months for 
TACE. For the secondary endpoint of OS, a positive trend was observed in favour of 
the STRIDE regimen with lenvatinib and TACE versus TACE alone (HR 0.84; 95% CI 
0.65-1.09; p=0.1814).  
Approval 
US 
POTOMAC 
May 2026 
 In combination with Bacillus Calmette-Guérin is indicated for the treatment of adult 
patients with BCG-naive, high-risk non-muscle-invasive bladder cancer. 
Approval 
JP 
MATTERHORN 
June 2026 
New disclosure 
 In combination with FLOT chemotherapy as neoadjuvant and adjuvant treatment, 
followed by adjuvant Imfinzi monotherapy, is indicated for the treatment of adults 
with resectable gastric or gastroesophageal junction adenocarcinoma. 
Regulatory update 
EU 
POTOMAC 
July 2026 
New disclosure 
 Voluntary withdrawal of the Type II variation application for Imfinzi in combination 
with Bacillus Calmette-Guérin for the treatment of BCG-naïve, high-risk non-muscle-
invasive bladder cancer, based on the POTOMAC Phase III trial. 
Phase III readout EMERALD-2 
Q2 2026 
New disclosure 
 The EMERALD-2 Phase III trial of Imfinzi in combination with bevacizumab as adjuvant 
therapy after curative resection or ablation in HCC patients at high risk of recurrence 
did not meet the primary endpoint of recurrence-free survival versus placebo. The 
safety and tolerability profiles for Imfinzi monotherapy and in combination with 
bevacizumab were consistent with the established profiles of each product. 
Phase III readout NILE 
Q2 2026 
New disclosure 
 Positive high-level results from the NILE Phase III trial showed that one dual primary 
endpoint was met, with Imfinzi plus chemotherapy demonstrating a statistically 
significant and clinically meaningful improvement in OS versus chemotherapy as 1st-
line treatment for patients with PD-L1 high unresectable, locally advanced or 
metastatic urothelial cancer. Imfinzi plus Imjudo with chemotherapy did not meet the 
other dual primary endpoint of OS versus chemotherapy in the same PD-L1 high 
population. The safety profiles for Imfinzi and Imjudo were consistent with their 
known profiles. 
Phase III update PACIFIC-8 
Q2 2026 
New disclosure 
 Recruitment into the PACIFIC-8 Phase III trial of Imfinzi in combination with 
domvanalimab versus Imfinzi alone in patients with PD-L1 positive Stage III 
unresectable NSCLC has been discontinued based on results of the Arcus/Gilead 
Phase III trials STAR-121 and STAR-221 containing domvanalimab. There were no new 
safety signals in PACIFIC-8. 
Lynparza 
Regulatory update 
CN 
PROfound 
June 2026 
New disclosure 
 Label revision to remove PROfound indication (BRCAm mCRPC) based on conditional 
approval lapse; Post Marketing Commitment not fulfilled. 
Orpathys 
Approval 
CN 
NCT04923932 
July 2026 
 Locally advanced or metastatic gastric cancer or gastroesophageal junction 
adenocarcinoma patients with MET amplification who have failed at least two prior 
systemic treatments. 
sonesitatug vedotin (sone-ve) 
Phase III readout CLARITY-Gastric01 
July 2026 
New disclosure 
 The CLARITY-Gastric01 global Phase III trial for sonesitatug vedotin had dual primary 
endpoints of OS in 3rd and later-line treatment and progression-free survival (PFS) in 
the overall trial population. 
 The trial met the dual primary endpoint of OS in 3rd and later-line treatment, and a 
key secondary endpoint of OS in the overall trial population of patients treated in the 
2nd and later-line setting, demonstrating a statistically significant and highly clinically 
meaningful improvement.  
 For the second dual primary endpoint of PFS as assessed by blinded independent 
central review, results showed a trend toward improved PFS in patients treated in the 
2nd and later-line setting but did not reach statistical significance.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
14 
 
Truqap 
Approval 
US 
CAPItello-281 
June 2026 
 In combination with abiraterone and prednisone for PTEN-deficient metastatic 
androgen pathway modulation-naïve or sensitive prostate cancer. 
BioPharmaceuticals – Cardiovascular, Renal & Metabolism 
Baxfendy 
Approval 
US 
BaxHTN 
May 2026 
 For the treatment of hypertension in combination with other antihypertensive 
medications, to lower blood pressure in adults who are not adequately controlled. 
 
elecoglipron 
Data presentation 
ADA 
VISTA/SOLSTICE 
June 2026 
 
 In the VISTA Phase IIb trial in adults with obesity or overweight and at least one 
comorbidity, elecoglipron demonstrated a clinically meaningful and statistically 
significant average reduction in body weight of 10.5% at 26 weeks compared to 0.6% 
with placebo, a dual primary endpoint. Weight loss in participants receiving 
elecoglipron did not plateau, reaching 11.8% at 36 weeks (75mg) versus 0.3% with 
placebo. In the SOLSTICE Phase IIb trial in patients with type 2 diabetes, elecoglipron 
demonstrated a clinically meaningful and statistically significant average reduction in 
HbA1c of 1.9% from baseline at 26 weeks compared to 0.2% with placebo, the trial’s 
primary endpoint. 
Wainua 
Phase III readout 
 
CARDIO-TTRansform 
July 2026 
 
 Wainua in patients with ATTR-CM did not meet the primary efficacy endpoint of the 
composite outcome of CV mortality and recurrent CV clinical events up to 140 weeks 
compared with placebo. In a prespecified subgroup analysis of patients treated 
with Wainua monotherapy as compared to placebo, fewer primary composite events 
(CV mortality and recurrent CV events) were observed and this result was nominally 
significant. In patients who were on stabiliser therapy at baseline, no treatment effect 
was observed. 
 
BioPharmaceuticals – Respiratory & Immunology 
Breztri 
CHMP opinion 
EU 
KALOS/LOGOS 
July 2026 
 
 Maintenance treatment of asthma in patients 12 years of age and older who are not 
adequately controlled by a combination of a medium dose inhaled corticosteroid and 
long-acting beta2-agonist. 
Fasenra 
Approval 
US 
NATRON 
May 2026 
New disclosure 
 For the treatment of adult and paediatric patients aged 12 years and older with HES 
without an identifiable non-hematologic secondary cause. 
Approval 
JP 
NATRON 
May 2026 
New disclosure 
 For the treatment of HES in adult and paediatric patients aged 12 years and older. 
Approval 
CN 
NATRON 
May 2026 
New disclosure 
 For the treatment of HES in adults and adolescents aged 12 years and older without a 
definite non-hematologic secondary cause. 
Approval 
EU 
NATRON 
July 2026 
New disclosure 
 Add on treatment for adult and adolescent patients aged 12 years and older weighing 
at least 35 kg with inadequately controlled HES without an identifiable non-
haematologic secondary cause.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
15 
 
Rare Disease  
anselamimab 
Data presentation 
ASCO 
CARES 
June 2026  
 The global CARES Phase III clinical programme, in a prespecified subgroup analysis of 
patients with kappa predominant light chain isotype, anselamimab improved survival 
by 62%, measured by all-cause mortality (HR 0.38; 95% CI 0.17-0.86; nominal 
p=0.012), and reduced the frequency of cardiovascular hospitalisations by 71% 
(incidence risk ratio 0.29; 95% CI 0.10-0.87; nominal p=0.028), compared to placebo. 
eneboparatide 
Data presentation 
ECE 
CALYPSO 
May 2026  
 The CALYPSO Phase III trial showed that 31.1% of patients treated with 
eneboparatide met the composite primary endpoint, achieving sCa within normal 
range (8.3-10.6 mg/dL) and independence from oral supplements at week 24, 
compared with 5.9% of patients in the placebo group (eneboparatide: n=41/132; 
placebo: n=4/68; p=0.0001) in patients with chronic hypoparathyroidism.  
efzimfotase alfa 
Data presentation 
ICCBH 
MULBERRY  
June 2026  
 Positive results from the MULBERRY Phase III trial showed that efzimfotase alfa 
achieved an observed median RGI-C Score of 1.67 at week 25 compared to an 
observed median score of 0 in the placebo group, with a median difference of 1.67 
(95% CI: 0.66, 2.00; p=0.0003) in children (2 to <12 years of age) with HPP. 
Data presentation 
ICCBH 
CHESTNUT 
June 2026 
 In the CHESTNUT trial, efzimfotase alfa demonstrated a similar incidence of 
treatment-emergent adverse events at week 25 in children (2 to <12 years of age) 
with HPP who switched from Strensiq (90.5%) compared to those who remained 
on Strensiq (86.4%) with a favourable safety profile. 
Ultomiris 
Data presentation 
ERA 
I CAN 
June 2026 
 Positive results from a prespecified interim analysis of the I CAN Phase III, Ultomiris 
demonstrated a 46.6% reduction in 24-hour UPCR from baseline (95% CI: 39.0%, 
53.2%) at week 34, compared to 5.6% (95% CI: -4.9%, 15.0%) in patients with IgAN 
receiving placebo, resulting in a placebo-adjusted treatment effect of 43.4% (95% CI: 
33.5%, 51.8%; p<0.0001) in patients. 
Phase III trial update ALXN1210-TMA-313 
July 2026 
New disclosure 
 High-level results showed that Ultomiris did not achieve statistical significance for the 
primary endpoint of event-free survival through 26 weeks compared to placebo in 
adults and adolescents (aged 12 years or older) with thrombotic microangiopathy 
after haematopoietic stem cell transplant. The primary endpoint was defined as the 
time from randomisation until TMA-related clinical worsening or death, whichever 
occurred first. Ultomiris showed a trend toward treatment benefit in adults and 
adolescents , discussions with health authorities are ongoing regarding the 
interpretation of these data, including in the context of real-world evidence. 
 In paediatric patients with HSCT-TMA, the ALXN1210-TMA-314 open-label Phase III 
trial of Ultomiris, we are advancing regulatory filings, based on data from the open-
label Phase III trial we reported in 2025, and data from an external control study. 
Phase III readout ALXN1210-MG-319 
July 2026 
New disclosure 
 High-level results from ALXN1210-MG-319 Phase III, single arm, open label trial 
evaluating Ultomiris in paediatric and adolescent patients with generalised 
myasthenia gravis met its primary endpoints and demonstrated efficacy consistent 
with that seen in the adult population (ALXN1210-MG-306), with safety consistent 
with the established profile of Ultomiris.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
16 
 
Sustainability highlights  
AstraZeneca received several prestigious 
recognitions for its sustainability 
leadership in the quarter. TIME Magazine 
named AstraZeneca one of the World’s 
Most Sustainable Companies for the third 
consecutive year, ranking it as the third 
most sustainable pharmaceutical 
company, and the Financial Times featured 
AstraZeneca in its 2026 Europe’s Climate 
Leaders list for the sixth consecutive year, 
ranking it as the top pharmaceutical 
company for climate action. AstraZeneca 
also ranked in Gartner’s Supply Chain Top 
25, which includes ESG criteria, for the 
fourth consecutive year and as the 
highest-ranked pharmaceutical company 
for the second year running.  
At the 79th World Health Assembly (WHA) 
in Geneva, Switzerland, the AstraZeneca 
delegation led by Chair Michel Demaré 
and EVP International, Iskra Reic, engaged 
more than 100 stakeholders, including 
over 30 government officials, to advance 
action related to health equity and health 
systems resilience. The delegation 
participated in over 10 government and 
partner-co-hosted events, including a 
flagship Lung Health event; a panel on 
implementing the WHO’s 2025 Rare 
Disease resolution; a roundtable on rare 
disease in Asia; and a roundtable on 
Chronic Kidney Diseases. 
Climate and nature  
The Company achieved milestones related 
to clean heat:  
– In March, AstraZeneca launched a 
supplier decarbonisation programme 
with Secaro and ERM to support clean 
heat adoption across its supplier 
network, which was profiled in Forbes.  
– In April, the renewable natural gas 
(RNG) facility supplying AstraZeneca’s 
US R&D and manufacturing sites was 
formally commissioned, with Virginia 
state leaders in attendance.  
– In June, a partnership to supply 
renewable liquified natural gas (RLNG) 
to the Company's Puerto Rico site was 
announced.  
The Company achieved gold status in the 
Government of Canada’s Environment and 
Climate Change Net-Zero Challenge, 
becoming the first pharmaceutical 
company in Canada to reach this tier.  
In the UK, AstraZeneca was named Green 
Business of the Year by the British Business 
Awards and also received the 2026 Society 
for Chemical Industry (SCI) Sustainability 
Award for reducing solvent use, in 
recognition of the Company’s setting a 
new benchmark in environmental 
stewardship in pre-clinical chemistry.  
Health equity   
AstraZeneca advanced its focus on health 
equity in science through two strategic 
genomics partnerships which provide 
access to large-scale datasets representing 
more than 520,000 participants globally, 
including from underserved communities.  
In the US, the Company delivered its first 
clinical trial awareness event for 
underserved areas in Baltimore. 
AstraZeneca’s global clinical trial website 
was made available in Portuguese and 
Vietnamese, in alignment with Company’s 
Health equity priority countries.  
In May 2026, Healthy Heart Africa (HHA) 
formalised its first Memorandum of 
Understanding with Morocco’s Ministry of 
Health, marking a strategic partnership 
with PATH to expand into Morocco.  
Through the Young Health Programme 
(YHP), AstraZeneca continued to 
strengthen community impact, expanding 
work with NGO partners to advance NCD 
prevention and health equity for young 
people. This included partnerships in 
Colombia, Costa Rica, Estonia, Kenya, 
Malaysia and Spain. The programme 
received external recognition in Vietnam 
with a Certificate of Merit by the Ministry 
of Education & Training.  
By July, AstraZeneca’s Cancer Care Africa 
(CCA) initiative had supported cancer 
screening for over 328,000 patients and 
trained over 28,000 oncology healthcare 
professionals, since 2024. Key CCA 
achievements during the first half of 2026 
include an international multidisciplinary 
team (MDT) collaboration to reduce 
variability in Hepatocellular Carcinoma 
(HCC) care across Ministry of Health (MoH) 
centres in Egypt and expansion of local 
diagnostic capacity in Kenya to now 
include BRCA testing.  
Health systems resilience   
Following the publication of the Canada 
roadmap in March, the Partnership for 
Health System Sustainability and Resilience 
(PHSSR) launched new country policy 
roadmaps on acting early on NCDs for 
France, Germany, Greece, Italy, and Japan. 
AstraZeneca supported through input on 
evidence-based, country-specific policy 
recommendations and activation of key 
stakeholders during launch.  
In Germany, the PHSSR roadmap on early 
action for NCDs underscored the 
importance of ensuring broad access to 
innovative medicines in the context of 
ongoing health reforms, covered in the 
Tagesspiegel Background.  
AstraZeneca announced a Memorandum 
of Understanding (MOU) with Northern 
Ireland’s Department of Health, 
Department for the Economy and the 
Health Innovation Research Alliance 
Northern Ireland (HIRANI), to facilitate 
earlier, community-based intervention to 
improve patient outcomes and address 
health inequalities.  
How we do business   
During Learning at Work Week in May, 
AstraZeneca highlighted its ‘3Es’ 
framework Education, Exposure and 
Experience, which supports colleagues to 
build skills through formal learning and 
real-world experience tailored to their 
roles, learning styles and career 
aspirations.  
For the third year in a row, AstraZeneca 
was named The Times' Graduate Employer 
of Choice in R&D.  
 
Sustainability

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
17 
 
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 six-month 
period to 30 June 2026 ('H1 2026') 
compared to the six-month period to 30 
June 2025 (‘H1 2025’), and the three-
month period to 30 June 2026 ('the 
quarter' or 'Q2 2026') compared to the 
three-month period to 30 June 2025 (‘Q2 
2025’), unless stated otherwise. 
Non-GAAP financial measures 
Core financial measures, EBITDA, Net debt, 
Core 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. 
Non-GAAP 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 3 '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 18 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
18 
 
Table 8: Reported Profit and Loss 
 H1 2026  H1 2025             % Change Q2 2026   Q2 2025             % Change 
 $m  $m  Actual  CER  $m  $m  Actual  CER  
 - Product Sales 28,896  26,670  8  5  14,510  13,795  5  4  
 - Alliance Revenue 1,699  1,293  31  29  874  654  34  33  
Product Revenue 30,595  27,963  9  6  15,384  14,449  6  5  
Collaboration Revenue 77  82  (6) (9) -  8  n/m n/m 
Total Revenue 30,672  28,045  9  6  15,384  14,457  6  5  
Cost of sales (5,201) (4,714) 10  3  (2,523) (2,473) 2  3  
Gross profit 25,471  23,331  9  7  12,861  11,984  7  5  
Distribution expense (286) (278) 3  (3) (145) (143) 2  (2) 
R&D expense (7,545) (6,707) 12  10  (4,053) (3,548) 14  13  
SG&A expense (10,571) (9,356) 13  10  (5,651) (4,864) 16  14  
Other operating income & expense 341  192  77  76  152  79  92  93  
Operating profit 7,410  7,182  3  2  3,164  3,508  (10) (13) 
Net finance expense (675) (636) 6  2  (355) (371) (4) (8) 
Joint ventures and associates (22) (17) 28  19  (10) (10) (8) (11) 
Profit before tax 6,713  6,529  3  2  2,799  3,127  (11) (13) 
Taxation (1,124) (1,160) (3) (4) (291) (679) (57) (57) 
Tax rate 17%  18%    10%  22%    
Profit after tax 5,589  5,369  4  3  2,508  2,448  2  (2) 
Earnings per share $3.60  $3.46  4  3  $1.61  $1.58  2  (2) 
Table 9: Reconciliation of Reported Profit before tax to EBITDA 
 H1 2026  H1 2025             % Change Q2 2026   Q2 2025             % Change 
 $m  $m  Actual  CER  $m  $m  Actual  CER  
Reported Profit before tax  6,713  6,529  3  2  2,799  3,127  (11) (13) 
Net finance expense  675  636  6  2  355  371  (4) (8) 
Joint ventures and associates  22  17  28  19  10  10  (8) (11) 
Depreciation, amortisation and impairment  3,295  2,673  23  21  1,928  1,389  39  38  
EBITDA  10,705  9,855  9  7  5,092  4,897  4  1  
Table 10: Reconciliation of Reported to Core financial measures: H1 2026 
For the half year ended 30 June Reported Restructuring Intangible Asset 
Amortisation & 
Impairments 
Other Core % Change 
 $m  $m  $m  $m  $m  Actual  CER  
Gross profit 25,471  (3) 16  3  25,487  9  7  
 - Gross Margin 83%     83%  -  +1pp  
Distribution expense (286) -  -  -  (286) 3  (3) 
R&D expense (7,545) 57  364  1  (7,123) 9  6  
- R&D % of Total Revenue 25%     23%  -  -  
SG&A expense (10,571) 106  2,156  400  (7,909) 9  6  
- SG&A % of Total Revenue 34%     26%  -  -  
Total operating expense (18,402) 163  2,520  401  (15,318) 9  6  
Other operating income & expense 341  -  -  -  341  82  81  
Operating profit 7,410  160  2,536  404  10,510  12  11  
- Operating Margin 24%        34%  +1pp  +1pp  
Net finance expense (675) -  -  54  (621) 20  15  
Taxation (1,124) (40) (514) (111) (1,789) 10  9  
EPS $3.60  $0.08  $1.31  $0.22  $5.21  12  11  
 
Financial performance

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
19 
 
Table 11: Reconciliation of Reported to Core financial measures: Q2 2026 
For the quarter ended 30 June Reported Restructuring Intangible Asset 
Amortisation & 
Impairments 
Other Core % Change 
 $m  $m  $m  $m  $m  Actual  CER  
Gross profit 12,861  (8) 8  2  12,863  8  6  
 - Gross Margin 84%     84%  +1pp  +1pp  
Distribution expense (145) -  -  -  (145) -  (4) 
R&D expense (4,053) 36  355  -  (3,662) 6  5  
- R&D % of Total Revenue 26%     24%  -  -  
SG&A expense (5,651) 72  1,183  346  (4,050) 7  4  
- SG&A % of Total Revenue 37%     26%  -  -  
Total operating expense (9,849) 108  1,538  346  (7,857) 6  4  
Other operating income & expense 152  -  -  -  152  >2x >2x 
Operating profit 3,164  100  1,546  348  5,158  12  10  
- Operating Margin 21%        34%  +2pp  +2pp  
Net finance expense (355) -  -  15  (340) 13  8  
Taxation (291) (27) (324) (89) (731) (20) (21) 
EPS $1.61  $0.05  $0.79  $0.18  $2.63  21  18  
Profit and Loss drivers 
Gross profit 
The movement in Gross Margin in H1 
2026 was a result of: 
– Positive effects from geographic mix 
– The changing mix 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 
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 
– The change in Reported R&D expense 
also reflects impairment charges of 
$345m recorded against intangible 
assets in Q2 2026 
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 
– Increased royalty income and small 
regional divestitures 
Net finance expense 
Core Net finance expense increased 20% 
(15% at CER) in H1 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 six months to 30 June 2026 were 
17% and 18% respectively (H1 2025: both 
18%). The cash tax paid for the six months 
ended 30 June 2026 was $2,051m (H1 
2025: $1,549m), representing 31% of 
Reported Profit before tax (H1 2025: 
24%).

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
20 
 
 
Cash Flow 
Table 12: Cash Flow summary: H1 2026 
For the half year ended 30 June H1 2026  
$m  
H1 2025  
$m  
Change 
$m  
Reported Operating profit  7,410  7,182  228  
Depreciation, amortisation and impairment  3,295  2,673  622  
Movement in working capital and short-term provisions  (1,438) (771) (667) 
Gains on disposal of intangible assets  (128) (87) (41) 
Fair value movements on contingent consideration arising from business combinations (19) (30) 11  
Non-cash and other movements  (215) 304  (519) 
Interest paid  (630) (623) (7) 
Taxation paid  (2,051) (1,549) (502) 
Net cash inflow from operating activities  6,224  7,099  (875) 
Net cash outflow from investing activities  (4,704) (3,361) (1,343) 
Net cash outflow from financing activities (2,325) (2,189) (136) 
Net (decrease)/increase in cash and cash equivalents in the period (805) 1,549  (2,354) 
Net cash flow 
The decrease in Net cash inflow from 
operating activities of $875m is primarily 
driven by Movement in working capital 
and short-term provisions, higher 
taxation paid and foreign exchange 
fluctuations, offset by increased 
Operating profit. 
The increase in Net cash outflow from 
investing activities of $1,343m is primarily 
driven by increased Purchase of 
intangible assets, $1,104m of which was 
an upfront payment to CSPC 
Pharmaceuticals. 
The change in Net cash outflow from 
financing activities of $136m is primarily 
driven by the issue of new long-term 
loans of $1,990m and the repayment of 
long-term loans of $2,450m in H1 2026, 
with no issuance and repayment of long-
term loans in H1 2025.
Capital expenditure 
Capital expenditure on Property, plant 
and equipment and software-related 
intangible assets amounted to $1,513m in 
H1 2026 (H1 2025: $1,303m). The 
increase of capital expenditure in H1 2026 
was driven by investment in several major 
manufacturing projects and continued 
investment in technology upgrades. 
Net debt 
Net debt increased by $3,538m in the six 
months to 30 June 2026 to $26,912m. 
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 3. 
Net debt 
Table 13: Net debt summary 
 At 30 Jun  
2026  
$m  
At 31 Dec 
2025  
$m  
At 30 Jun  
2025  
$m  
Cash and cash equivalents 4,893  5,711  7,058  
Other investments 75  30  50  
Cash and investments 4,968  5,741  7,108  
Overdrafts and short-term borrowings (542) (644) (561) 
Commercial paper (2,407) -  (1,470) 
Lease liabilities (2,748) (1,803) (1,633) 
Current instalments of loans (2,859) (2,460) (4,461) 
Non-current instalments of loans (23,683) (24,715) (24,714) 
Interest-bearing loans and borrowings (Gross debt) (32,239) (29,622) (32,839) 
Net derivatives 359  507  504  
Net debt (26,912) (23,374) (25,227)

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
21 
 
Summarised financial information for guarantee of securities of subsidiaries
AstraZeneca Finance LLC ("AstraZeneca 
Finance") is the issuer of 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 14: Obligor group summarised statement of comprehensive income: H1 2026 
For the half year ended 30 June  2026  
$m  
2025  
$m  
Total Revenue -  -  
Gross profit  -  -  
Operating loss (5) -  
Loss for the period (523) (666) 
Transactions with subsidiaries that are not issuers or guarantors 6,366  6,160  
Table 15: Obligor group summarised statement of financial position 
 At 30 Jun 
2026  
$m  
At 30 Jun 
2025  
$m  
Current assets 56  43  
Non-current assets 72  147  
Current liabilities (5,757) (6,506) 
Non-current liabilities (23,679) (24,720) 
Amounts due from subsidiaries that are not issuers or guarantors 25,273  23,554  
Amounts due to subsidiaries that are not issuers or guarantors -  -

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
22 
 
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 
and loss or to Other comprehensive 
income if the contract is in a designated 
cash flow 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 16: 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  
 (%) 
Jun  
 20264 
Change  
 (%) 
Total  
Revenue  
Core Operating 
Profit  
EUR Total Revenue 0.88   0.86  3   0.87   2  499   234    
CNY Total Revenue 7.19   6.86    5  6.78   6   329   178    
JPY Total Revenue 149.64   158.12  (5)  160.72   (7) 179   120    
GBP Operating expense 0.76   0.74  2   0.75  1  50   (180)  
SEK Operating expense 9.81   9.25  6   9.50  3  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 30 June 2026. 
4. Based on average daily spot rates 1 June 2026 to 30 June 2026.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
23 
 
Related-party transactions 
There have been no significant related-party transactions in the period. 
Principal risks and uncertainties 
The Principal Risks and uncertainties facing the Group are set out on pages 48 to 49 of the Annual Report and Form 20-F Information 
2025 and summarised below. They are not expected to change in respect of the second six months of the financial year and remain 
appropriate for the Group. In summary, the principal risks and uncertainties listed in the Annual Report and 20-F Information 2025 are: 
1. Product pipeline risks: failure or delay in the delivery of our pipeline or launch of new medicines; failure to meet regulatory 
or ethical requirements for medicine development or approval  
2. Commercialisation risks: pricing, affordability, access and competitive pressures; failures or delays in the quality or execution 
of the Group’s commercial strategies  
3. Supply chain and business-execution risks: failure to maintain supply of compliant, quality medicines; failure in information 
technology or cybersecurity; failure to collect and manage data or AI in line with legal and regulatory requirements and 
strategic objectives   
4. Legal, regulatory and compliance risks: safety and efficacy of marketed medicines is questioned; adverse outcome of 
litigation and / or governmental investigations; IP risks related to our products ; failure to meet regulatory and ethical 
expectations on commercial practices, including anti-bribery / anti-corruption, anti-fraud and scientific exchanges 
5. Economic and financial risks: geopolitical and/or macroeconomic volatility disrupts the operation of our global business; 
failure to achieve strategic plans or meet targets or expectations 
Responsibility statement of the directors in respect of the half-yearly financial report 
We confirm that to the best of our knowledge: 
– the Condensed consolidated Interim Financial Statements have been prepared in accordance with IAS 34 ‘Interim Financial 
Reporting’ as issued by the International Accounting Standards Board (IASB), IAS 34 as adopted by the European Union and UK-
adopted IAS 34; 
– the half-yearly management report gives a true and fair view of the assets, liabilities, financial position and profit or loss of the 
company; 
– the half-yearly management report includes a fair review of the information required by: 
a) DTR 4.2.7R of the Disclosure and Transparency Rules, being an indication of important events that have occurred during the 
first six months of the financial year and their impact on the condensed consolidated Interim Financial Statements; and a 
description of the principal risks and uncertainties for the remaining six months of the year; and 
b) DTR 4.2.8R of the Disclosure and Transparency Rules, being related party transactions that have taken place in the first six 
months of the current financial year and that have materially affected the financial position or performance of the 
enterprise during that period; and any changes in the related party transactions described in the last annual report that 
could do so. 
The Board 
The Board of Directors that served during all or part of the six month period to 30 June 2026 and their respective responsibilities can be 
found on the Leadership team section of astrazeneca.com.  
Approved by the Board and signed on its behalf by 
Pascal Soriot 
Chief Executive Officer 
27 July 2026

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
24 
 
Report on the Interim H1 financial statements
Conclusion 
We have been engaged by AstraZeneca 
PLC (“the Company”) to review the 
condensed set of consolidated interim 
financial statements as at and for the six 
months ended 30 June 2026 (“Interim H1 
Financial statements”), included in the H1 
and Q2 2026 results of AstraZeneca PLC, 
which comprises the: 
– Condensed consolidated statement of 
financial position  
– Condensed consolidated statements of 
comprehensive income 
– Condensed consolidated statement of 
changes in equity,  
– Condensed consolidated statement of 
cash flows, and 
– the related explanatory notes  
For the avoidance of doubt, our review 
does not cover the Q2 information for the 
period 1 April to 30 June 2026 in Tables 
18 and 24, nor does it cover the CER 
information for the six months ended 30 
June 2026 included in Table 23. 
Based on our review, nothing has come 
to our attention that causes us to believe 
that the Interim H1 Financial statements 
in the H1 and Q2 2026 results for the six 
months ended 30 June 2026 is not 
prepared, in all material respects, in 
accordance with IAS 34 Interim Financial 
Reporting, as issued by the International 
Accounting Standards Board (IASB), IAS 
34 as adopted for use in the UK, IAS 34 as 
adopted by the European Union and the 
Disclosure Guidance and Transparency 
Rules (“the DTR”) of the UK’s Financial 
Conduct Authority (“the UK FCA”).  
Basis for conclusion 
We conducted our review in accordance 
with International Standard on Review 
Engagements (UK) 2410 Review of 
Interim Financial Information Performed 
by the Independent Auditor of the Entity 
(“ISRE (UK) 2410”) issued for use in the 
UK. A review of interim financial 
information consists of making enquiries, 
primarily of persons responsible for 
financial and accounting matters, and 
applying analytical and other review 
procedures. We read the other 
information contained in the H1 and Q2 
2026 results and consider whether it 
contains any apparent misstatements or 
material inconsistencies with the 
information in the condensed set of 
consolidated financial statements.   
A review is substantially less in scope 
than an audit conducted in accordance 
with International Standards on Auditing 
(UK) and consequently does not enable 
us to obtain assurance that we would 
become aware of all significant matters 
that might be identified in an audit. 
Accordingly, we do not express an audit 
opinion.  
Conclusions relating to going concern 
Based on our review procedures, which 
are less extensive than those performed 
in an audit as described in the Basis for 
conclusion section of this report, nothing 
has come to our attention that causes us 
to believe that the directors have 
inappropriately adopted the going 
concern basis of accounting, or that the 
directors have identified material 
uncertainties relating to going concern 
that have not been appropriately 
disclosed. 
This conclusion is based on the review 
procedures performed in accordance with 
ISRE (UK) 2410. However, future events 
or conditions may cause the Group to 
cease to continue as a going concern, and 
the above conclusions are not a 
guarantee that the Group will continue in 
operation. 
Directors’ responsibilities 
The H1 and Q2 2026 results, including the 
Interim H1 Financial Statements is the 
responsibility of, and have been approved 
by, the directors. The directors are 
responsible for preparing the H1 and Q2 
2026 results, including the Interim H1 
Financial Statements in accordance with 
the DTR of the UK FCA. 
As disclosed in Note 1, the annual 
financial statements of the Group are 
prepared in accordance with UK-adopted 
international accounting standards and 
with the requirements of the Companies 
Act 2006, and also comply with IFRS 
Accounting Standards as issued by the 
International Accounting Standards Board 
(IASB), and International Accounting 
Standards as adopted by the European 
Union.   
The directors are responsible for 
preparing the Interim H1 Financial 
Statements included in H1 and Q2 2026 
results in accordance with IAS 34 as 
issued by the International Accounting 
Standards Board (IASB), IAS 34 as 
adopted for use in the UK, and IAS 34 as 
adopted by the European Union. 
In preparing the condensed set of 
consolidated financial statements, the 
directors are responsible for assessing the 
Group’s ability to continue as a going 
concern, disclosing, as applicable, matters 
related to going concern and using the 
going concern basis of accounting unless 
the directors either intend to liquidate 
the Group or to cease operations, or have 
no realistic alternative but to do so. 
Our responsibility   
Our responsibility is to express to the 
Company a conclusion on the Interim H1 
Financial Statements in the H1 and Q2 
2026 results based on our review. Our 
conclusion, including our conclusions 
relating to going concern, are based on 
procedures that are less extensive than 
audit procedures, as described in the 
Basis for conclusion section of this report.  
The purpose of our review work and 
to whom we owe our responsibilities 
This report is made solely to the 
Company in accordance with the terms of 
our engagement to assist the Company in 
meeting the requirements of the DTR of 
the UK FCA. Our review has been 
undertaken so that we might state to the 
Company those matters we are required 
to state to it in this report and for no 
other purpose. To the fullest extent 
permitted by law, we do not accept or 
assume responsibility to anyone other 
than the Company for our review work, 
for this report, or for the conclusions we 
have reached.   
Paul Nichols  
for and on behalf of KPMG LLP   
Chartered Accountants  
15 Canada Square 
27 July 2026 
 
Independent review report to AstraZeneca PLC

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
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Table 17: Condensed consolidated statement of comprehensive income: H1 2026 
For the half year ended 30 June 2026  
$m  
2025  
$m  
- Product Sales 28,896  26,670  
- Alliance Revenue 1,699  1,293  
Product Revenue 30,595  27,963  
Collaboration Revenue 77  82  
Total Revenue 30,672  28,045  
Cost of sales (5,201) (4,714) 
Gross profit 25,471  23,331  
Distribution expense (286) (278) 
Research and development expense (7,545) (6,707) 
Selling, general and administrative expense (10,571) (9,356) 
Other operating income and expense 341  192  
Operating profit 7,410  7,182  
Finance income 153  149  
Finance expense (828) (785) 
Share of after tax losses in associates and joint ventures (22) (17) 
Profit before tax 6,713  6,529  
Taxation (1,124) (1,160) 
Profit for the period 5,589  5,369  
   
Other comprehensive income   
Items that will not be reclassified to profit and loss:   
Remeasurement of the defined benefit pension liability 233  (30) 
Net gains/(losses) on equity investments measured at fair value through Other comprehensive income 465  (125) 
Tax expense on items that will not be reclassified to profit or loss (51) (3) 
 647  (158) 
Items that may be reclassified subsequently to profit and loss:   
Foreign exchange arising on consolidation (699) 2,464  
Foreign exchange arising on designated liabilities in net investment hedges 43  10  
Fair value movements on cash flow hedges (81) 273  
Fair value movements on cash flow hedges transferred to profit and loss 96  (315) 
Fair value movements on derivatives designated in net investment hedges 4  (20) 
Gains of hedging -  10  
Tax income/(expense) on items that may be reclassified subsequently to profit and loss 7  (52) 
 (630) 2,370  
Other comprehensive income for the period, net of tax 17  2,212  
     
Total comprehensive income for the period 5,606  7,581  
   
Profit attributable to:    
Owners of the Parent 5,587  5,366  
Non-controlling interests 2  3  
 5,589  5,369  
   
Total comprehensive income attributable to:   
Owners of the Parent 5,606  7,574  
Non-controlling interests -  7  
 5,606  7,581  
Earnings per share   
Basic earnings per $0.25 Ordinary Share $3.60  $3.46  
Diluted earnings per $0.25 Ordinary Share $3.58  $3.44  
Weighted average number of Ordinary Shares in issue (millions) 1,550  1,550  
Diluted weighted average number of Ordinary Shares in issue (millions) 1,561  1,560  
The Condensed consolidated statements of Comprehensive income for H1 2026 has been reviewed by KPMG LLP under ISRE 2410. The Condensed consolidated 
statement of Comprehensive income for H1 2025 has been reviewed by PricewaterhouseCoopers LLP under ISRE 2410. 
Interim financial statements

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
26 
 
Table 18: Condensed consolidated statement of comprehensive income: Q2 2026 
For the quarter ended 30 June Unreviewed 
2026  
$m  
Unreviewed 
2025  
$m  
- Product Sales 14,510  13,795  
- Alliance Revenue 874  654  
Product Revenue 15,384  14,449  
Collaboration Revenue -  8  
Total Revenue 15,384  14,457  
Cost of sales (2,523) (2,473) 
Gross profit 12,861  11,984  
Distribution expense (145) (143) 
Research and development expense (4,053) (3,548) 
Selling, general and administrative expense (5,651) (4,864) 
Other operating income and expense 152  79  
Operating profit 3,164  3,508  
Finance income 80  68  
Finance expense (435) (439) 
Share of after tax losses in associates and joint ventures (10) (10) 
Profit before tax 2,799  3,127  
Taxation (291) (679) 
Profit for the period 2,508  2,448  
   
Other comprehensive income   
Items that will not be reclassified to profit and loss:   
Remeasurement of the defined benefit pension liability 158  (81) 
Net gains/(losses) on equity investments measured at fair value through Other comprehensive income 280  (67) 
Tax expense on items that will not be reclassified to profit or loss 5  14  
 443  (134) 
Items that may be reclassified subsequently to profit and loss:   
Foreign exchange arising on consolidation (148) 1,312  
Foreign exchange arising on designated liabilities in net investment hedges 36  (43) 
Fair value movements on cash flow hedges (2) 201  
Fair value movements on cash flow hedges transferred to profit and loss 41  (213) 
Fair value movements on derivatives designated in net investment hedges -  (10) 
Gains of hedging 16  18  
Tax expense on items that may be reclassified subsequently to profit and loss -  (22) 
 (57) 1,243  
Other comprehensive income for the period, net of tax 386  1,109  
     
Total comprehensive income for the period 2,894  3,557  
   
Profit/(loss) attributable to:    
Owners of the Parent 2,507  2,450  
Non-controlling interests 1  (2) 
 2,508  2,448  
   
Total comprehensive income attributable to:   
Owners of the Parent 2,893  3,556  
Non-controlling interests 1  1  
 2,894  3,557  
Earnings per share   
Basic earnings per $0.25 Ordinary Share $1.61  $1.58  
Diluted earnings per $0.25 Ordinary Share $1.61  $1.57  
Weighted average number of Ordinary Shares in issue (millions) 1,551  1,550  
Diluted weighted average number of Ordinary Shares in issue (millions) 1,560  1,559  
The Q2 2026 and Q2 2025 information in respect of the three months ended 30 June 2026 and 30 June 2025, respectively, included in the Interim Financial Statements 
have not been reviewed by KPMG LLP and PricewaterhouseCoopers LLP, respectively.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
27 
 
Table 19: Condensed consolidated statement of financial position 
 
 
Reviewed 
At 30 Jun  
2026  
Audited  
At 31 Dec  
2025  
Reviewed 
At 30 Jun  
2025  
Assets   $m  $m  $m  
Non-current assets     
Property, plant and equipment  13,615  12,962  11,637  
Right-of-use assets  2,685  1,741  1,592  
Goodwill  21,181  21,242  21,222  
Intangible assets  37,723  37,846  37,925  
Investments in associates and joint ventures  297  302  276  
Other investments  2,619  2,223  1,863  
Derivative financial instruments  394  498  509  
Other receivables  1,351  1,327  1,066  
Income tax receivable  1,516  1,391  1,137  
Deferred tax assets  6,487  5,819  6,256  
  87,868  85,351  83,483  
Current assets     
Inventories  6,932  6,557  6,467  
Trade and other receivables  14,330  15,177  14,168  
Other investments  75  30  50  
Derivative financial instruments  76  90  95  
Intangible assets  -  -  100  
Income tax receivable  1,659  1,158  1,001  
Cash and cash equivalents  4,893  5,711  7,058  
  27,965  28,723  28,939  
Total assets  115,833  114,074  112,422  
Liabilities     
Current liabilities     
Interest-bearing loans and borrowings  (5,808) (3,104) (6,492) 
Lease liabilities  (426) (382) (361) 
Trade and other payables  (22,893) (25,280) (23,986) 
Derivative financial instruments  (108) (81) (100) 
Provisions  (850) (686) (1,168) 
Income tax payable  (1,468) (1,084) (1,429) 
  (31,553) (30,617) (33,536) 
Non-current liabilities     
Interest-bearing loans and borrowings  (23,683) (24,715) (24,714) 
Lease liabilities  (2,322) (1,421) (1,272) 
Derivative financial instruments  (3) -  -  
Deferred tax liabilities  (3,463) (3,500) (3,615) 
Retirement benefit obligations  (852) (1,105) (1,418) 
Provisions  (967) (918) (972) 
Income tax payable  (649) (700) (485) 
Other payables  (1,971) (2,379) (1,600) 
  (33,910) (34,738) (34,076) 
Total liabilities  (65,463) (65,355) (67,612) 
Net assets  50,370  48,719  44,810  
Equity     
Share capital  388  388  388  
Share premium account  35,282  35,266  35,238  
Other reserves  2,033  2,041  2,070  
Retained earnings  12,592  10,972  7,023  
Capital and reserves attributable to equity holders of the Parent  50,295  48,667  44,719  
Non-controlling interests  75  52  91  
Total equity  50,370  48,719  44,810  
The Condensed consolidated statement of financial position as at 30 June 2026 has been reviewed by KPMG LLP under ISRE 2410. The Condensed consolidated 
statement of financial position as at 30 June 2025 has been reviewed by PricewaterhouseCoopers LLP under ISRE 2410 and the Condensed consolidated statement of 
financial position as at 31 December 2025 has been audited by PricewaterhouseCoopers LLP under ISRE 2410.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
28 
 
Table 20: 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 -  -  -  5,366  5,366  3  5,369  
Other comprehensive (expense)/income   -  -  (34) 2,242  2,208  4  2,212  
Transfer to Other reserves -  -  47  (47) -  -  -  
Transactions with owners        
Dividends -  -  -  (3,249) (3,249) -  (3,249) 
Issue of Ordinary Shares -  12  -  -  12  -  12  
Changes in non-controlling interests -  -  -  -  -  (1) (1) 
Movement in shares held by Employee 
Benefit Trusts -  -  45  -  45  -  45  
Share-based payments charge for the period -  -  -  357  357  -  357  
Settlement of share plan awards -  -  -  (806) (806) -  (806) 
Net movement -  12  58  3,863  3,933  6  3,939  
At 30 Jun 2025 388  35,238  2,070  7,023  44,719  91  44,810  
        
At 1 Jan 2026 388  35,266  2,041  10,972  48,667  52  48,719  
Profit for the period -  -  -  5,587  5,587  2  5,589  
Other comprehensive income/(expense)   -  -  13  6  19  (2) 17  
Transfer to Other reserves -  -  8  (8) -  -  -  
Transactions with owners        
Dividends -  -  -  (3,359) (3,359) -  (3,359) 
Issue of Ordinary Shares -  16  -  -  16  -  16  
Changes in non-controlling interests -  -  -  3  3  23  26  
Movement in shares held by Employee 
Benefit Trusts -  -  (29) -  (29) -  (29) 
Share-based payments charge for the period -  -  -  389  389  -  389  
Settlement of share plan awards -  -  -  (998) (998) -  (998) 
Net movement -  16  (8) 1,620  1,628  23  1,651  
At 30 Jun 2026 388  35,282  2,033  12,592  50,295  75  50,370  
 
The Condensed consolidated statement of changes in equity for H1 2026 has been reviewed by KPMG LLP under ISRE 2410. The Condensed consolidated statement of 
changes in equity for H1 2025 has been reviewed by PricewaterhouseCoopers LLP under ISRE 2410.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
29 
 
Table 21: Condensed consolidated statement of cash flows: H1 2026 
For the half year ended 30 June  2026  
$m  
2025  
$m  
Cash flows from operating activities   
Profit before tax 6,713  6,529  
Finance income and expense 675  636  
Share of after tax losses of associates and joint ventures 22  17  
Depreciation, amortisation and impairment 3,295  2,673  
Movement in working capital and short-term provisions (1,438) (771) 
Gains on disposal of intangible assets (128) (87) 
Fair value movements on contingent consideration arising from business combinations (19) (30) 
Non-cash and other movements (215) 304  
Cash generated from operations 8,905  9,271  
Interest paid (630) (623) 
Tax paid (2,051) (1,549) 
Net cash inflow from operating activities 6,224  7,099  
   
Cash flows from investing activities   
Payment of contingent consideration from business combinations (290) (629) 
Purchase of property, plant and equipment (1,310) (1,088) 
Disposal of property, plant and equipment 12  10  
Purchase of intangible assets (3,333) (1,804) 
Disposal of intangible assets 165  95  
Purchase of non-current asset investments (8) (188) 
Disposal of non-current asset investments 3  -  
Movement in short-term investments, fixed deposits and other investing instruments (45) 115  
Payments to associates and joint ventures (24) -  
Interest received 126  128  
Net cash outflow from investing activities (4,704) (3,361) 
Net cash inflow before financing activities 1,520  3,738  
   
Cash flows from financing activities   
Proceeds from issue of share capital 16  12  
Own shares purchased by Employee Benefit Trusts (658) (489) 
Payments to acquire non-controlling interests -  (2) 
Issue of loans and borrowings  1,997  9  
Repayment of loans and borrowings (2,453) (16) 
Dividends paid (3,288) (3,357) 
Hedge contracts relating to dividend payments (72) 104  
Repayment of obligations under leases (182) (184) 
Movement in short-term borrowings 2,315  1,734  
Net cash outflow from financing activities (2,325) (2,189) 
   
Net (decrease)/increase in Cash and cash equivalents in the period (805) 1,549  
Cash and cash equivalents at the beginning of the period 5,698  5,429  
Exchange rate effects (9) 54  
Cash and cash equivalents at the end of the period 4,884  7,032  
   
Cash and cash equivalents consist of:   
Cash and cash equivalents 4,893  7,058  
Overdrafts (9) (26) 
 4,884  7,032  
The Condensed consolidated statement of cash flows for H1 2026 has been reviewed by KPMG LLP under ISRE 2410. The Condensed consolidated statement of cash 
flows for H1 2025 has been reviewed by PricewaterhouseCoopers LLP under ISRE 2410.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
30 
 
Note 1: Basis of preparation and accounting policies
These unaudited Interim financial 
statements for H1 and Q2 ended 30 June 
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 H1 and Q2 ended 
30 June 2026 were approved by the Board 
of Directors for publication on 
27 July 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 30 June 2026, 
the Group has $9.8bn in financial 
resources (cash and cash equivalent 
balances of $4.9bn and undrawn 
committed bank facilities of $4.9bn that 
are available until April 2031), with $6.2bn 
of borrowings due within one year. These 
facilities contain no financial covenants.  
The Group has assessed the prospects of 
the Group over a period of at least 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 5 
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 31 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
31 
 
Note 2: Intangible assets 
On 14 April 2026, the previously announced strategic collaboration and license agreement with CSPC Pharmaceuticals closed. Under 
this agreement, the companies will initially progress four programmes, which utilise CSPC Pharmaceuticals’ advanced AI-driven peptide 
drug discovery platform and their proprietary LiquidGel once-monthly dosing platform technology. AstraZeneca paid an upfront 
payment of $1.2bn, of which $1.1bn was capitalised within intangible assets in Q2 2026. Contingent consideration of up to $3.5bn 
could be paid on achievement of regulatory milestones; these potential liabilities would be recorded when the relevant recognition 
event for a regulatory milestone is achieved. Further contingent sales milestones, as well as tiered royalties, could be payable and 
would be recognised when the associated milestones are triggered. 
During Q2, impairment charges recorded against products in development totalled $345m recorded within R&D expense. 
Note 3: Net debt 
Table 22: Net debt 
 
 At 1 Jan  
2026  
Cash flow  Acquisitions Non-cash  
 and other  
Exchange  
 movements  
At 30 Jun  
2026  
 $m  $m  $m $m  $m  $m  
Non-current instalments of loans (24,715) (1,997) -  2,889  140  (23,683) 
Non-current instalments of leases (1,421) -  -  (917) 16  (2,322) 
Total long-term debt (26,136) (1,997) -  1,972  156  (26,005) 
Current instalments of loans (2,460) 2,453  -  (2,870) 18  (2,859) 
Current instalments of leases (382) 227  -  (275) 4  (426) 
Commercial paper -  (2,407) -  -  -  (2,407) 
Collateral received from derivative 
counterparties (473) 105  -  -  -  (368) 
Other short-term borrowings excluding 
overdrafts (158) (13) -  -  6  (165) 
Overdrafts (13) 3  -  -  1  (9) 
Total current debt (3,486) 368  -  (3,145) 29  (6,234) 
Gross borrowings (29,622) (1,629) -  (1,173) 185  (32,239) 
Net derivative financial instruments 507  377  -  (525) -  359  
Net borrowings (29,115) (1,252) -  (1,698) 185  (31,880) 
Cash and cash equivalents 5,711  (808) -  -  (10) 4,893  
Other investments - current 30  45  -  -  -  75  
Cash and investments 5,741  (763) -  -  (10) 4,968  
Net debt (23,374) (2,015) -  (1,698) 175  (26,912) 
 
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 $3,538m in the six 
months to 30 June 2026 to $26,912m, 
which includes the issue of new long-term 
loans of $1,990m and the repayment of 
long-term loans of $2,450m in H1 2026. 
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 30 June 2026 was $368m (31 
December 2025: $473m) and the carrying 
value of such cash collateral posted by the 
Group at 30 June 2026 was $70m  
(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 six months ended 30 June 
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 32 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
32 
 
Note 4: 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 $442m 
(31 December 2025: $458m) and for which 
a fair value loss of $9m has been 
recognised in the six months ended 30 
June 2026 (H1 2025: $35m). 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/(losses) on equity investments 
measured at fair value through other 
comprehensive income, in the Condensed 
consolidated statement of comprehensive 
income for the six months ended 30 June 
2026, are Level 1 fair value measurements, 
valued based on quoted prices in active 
markets. 
Financial instruments measured at fair 
value include $2,624m of other 
investments, $3,427m held in money-
market funds and $359m of derivatives as 
at 30 June 2026. With the exception of 
derivatives being Level 2 fair valued, and 
certain equity instruments of $442m 
categorised as Level 3, the 
aforementioned balances are Level 1 fair 
valued. Financial instruments measured at 
amortised cost include $70m of cash 
collateral pledged to counterparties. The 
total fair value of Interest-bearing loans 
and borrowings as at 30 June 2026, which 
have a carrying value of $31,333m in the 
Condensed consolidated statement of 
financial position, was $30,630m. 
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 5: 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 33 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
33 
 
Matters disclosed in respect of the second quarter of 2026 and up to and including 26 July 2026 
Patent litigation 
Legal proceedings brought against AstraZeneca 
Forxiga patent proceedings, 
Europe 
Considered to be a contingent liability 
 In France, Biogaran SAS has challenged the validity of one of AstraZeneca's patents covering 
Forxiga. Trial is scheduled for June 2027. 
 In Portugal, multiple generic companies have challenged the validity of one of AstraZeneca's 
patents covering Forxiga. One patent validity trial concluded in July 2026. The court has reserved 
judgment. 
 In February 2026, the Polish Patent Office invalidated one of AstraZeneca's patents 
covering Forxiga. AstraZeneca is appealing that decision. 
Tagrisso patent proceedings, US 
Considered to be a contingent liability 
 In September 2021, Puma Biotechnology, Inc. (Puma) and Wyeth LLC (Wyeth) filed a patent 
infringement lawsuit in the US District Court for the District of Delaware (District Court) against 
AstraZeneca relating to Tagrisso. In March 2024, the District Court dismissed Puma. 
 The jury trial, with Wyeth as the plaintiff, took place in May 2024. The jury found Wyeth’s patents 
infringed and awarded Wyeth $107.5m in past damages. The jury also found that the 
infringement was not wilful. 
 In proceedings following the jury award, the District Court rejected AstraZeneca’s indefiniteness 
and equitable defences but granted judgment as a matter of law in favour of AstraZeneca on the 
grounds that the patents were invalid for lack of written description and enablement. 
 In July 2026, the US Court of Appeals for the Federal Circuit affirmed the District Court’s decision 
that the patents were invalid.   
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 
covering Forxiga. 
 In March 2026, AstraZeneca obtained a preliminary injunction against the launch of Pharmacor's 
dapagliflozin product. 
 Trial is scheduled for October 2026. 
Lynparza patent proceedings, 
Canada 
 
 In July 2025, AstraZeneca was served with a Notice of Allegation from Cipla Ltd. challenging a 
patent relating to Lynparza. AstraZeneca commenced an action in response in August 2025. Trial 
is scheduled to begin in April 2027. 
 In August 2025, AstraZeneca was served with a Notice of Allegation from Natco Pharma (Canada) 
Inc. challenging a patent relating to Lynparza. AstraZeneca commenced an action in response in 
October 2025. A summary trial related to infringement is scheduled for October 2026 and a trial 
on other matters is scheduled to begin in June 2027. 
 In November 2025, AstraZeneca was served with a Notice of Allegation from Zydus Lifesciences 
Limited challenging a patent relating to Lynparza. AstraZeneca commenced an action in response 
in December 2025. No trial date has been set. 
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. Trial is 
scheduled for June 2027. 
 In May 2026, AstraZeneca filed separate legal actions in the UK High Court and the General Court 
of the European Union challenging determinations by the Medicines and Healthcare products 
Regulatory Agency and the European Medicines Agency to grant marketing authorisations for 
aumolertinib. No trial date has been set.

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

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34 
 
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. 
AstraZeneca filed a new invalidity claim against Axelpharm’s patent in May 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 July 2026, AstraZeneca filed a patent infringement claim against 
OncoTarget LLC (OncoTarget) in relation to the manufacture of a generic version of Tagrisso. 
 In August 2024, after AstraZeneca filed a complaint, the Federal Anti-Monopoly Service of Russia 
(FAS) initiated a case against Axelpharm and 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.  
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. 
 The parties have an agreement in principle to resolve all cases for an immaterial amount. 
Commercial litigation 
Legal proceedings brought against AstraZeneca 
Amyndas Trade Secrets Litigation, 
US 
Matter Concluded 
 
 AstraZeneca has been defending a matter filed by Amyndas Pharmaceuticals Member P.C. and 
Amyndas Pharmaceuticals, LLC (collectively Amyndas), in Massachusetts federal court 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. 
 In June 2026, Amyndas agreed to dismiss with prejudice its remaining claims and waive its appeal 
rights.  
 This matter has concluded. 
Barone Privacy Litigation, US 
Matter Concluded 
 
 In March 2026, a putative class action complaint against AstraZeneca and others was filed in 
Illinois federal court. The complaint alleges that AstraZeneca and others unlawfully used patient 
genetic information. 
 In June 2026, plaintiffs filed a Consolidated Class Action Complaint not naming AstraZeneca as a 
defendant. 
 This matter has concluded. 
Definiens, Germany 
Matter Concluded 
 
 In July 2020, AstraZeneca received a notice of arbitration filed with the German Institution of 
Arbitration from the sellers of Definiens AG (Sellers) regarding the 2014 share purchase 
agreement (SPA) between AstraZeneca and the Sellers. The Sellers claim that they are owed 
approximately $140m in earn-outs under the SPA. In December 2023, after an arbitration 
hearing, the arbitration panel made a final award of $46m in favour of the Sellers. 
 That award was annulled on appeal. 
 In April 2026, the parties agreed to a settlement for an immaterial amount. 
 This matter has concluded.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
35 
 
Syntimmune Milestone Litigation, 
US 
Considered to be a contingent liability 
 
 In connection with AstraZeneca's acquisition of Syntimmune, Inc. (Syntimmune) in December 
2020, AstraZeneca was served with a lawsuit filed by the stockholders’ representative for 
Syntimmune in Delaware State Court (Court) that alleged, among other things, breaches of the 
2018 merger agreement (Merger Agreement). 
 The stockholders’ representative alleges that AstraZeneca failed to meet its obligations under the 
Merger Agreement to use commercially reasonable efforts to achieve the milestones. 
AstraZeneca also filed a claim for breach of the representations in the Merger Agreement. 
 A trial was held in July 2023. 
 In September 2024, the Court issued a partial decision, concluding that the first milestone in the 
amount of $130m was achieved, and that AstraZeneca had breached its contractual obligation to 
use commercially reasonable efforts to achieve the milestones.  
 In June 2025, the Court issued a further partial decision awarding an additional $181m in 
damages on its September 2024 breach determination. 
 In May 2026, the Court issued a further decision awarding AstraZeneca $11.1m in damages for 
sellers' breach of a material representation in the Merger Agreement regarding manufacturing of 
drug substance and product supply. 
 AstraZeneca intends to appeal the Court's adverse decisions. 
University of Sheffield Contract 
Dispute, UK 
Matter Concluded 
 
 In June 2024, AstraZeneca was served with a lawsuit filed by the University of Sheffield 
(Sheffield). In its complaint, Sheffield alleges that AstraZeneca made misrepresentations to induce 
Sheffield to amend a patent license agreement relating to Lynparza. 
 In May 2026, AstraZeneca entered into a global settlement agreement with Sheffield that 
resolves all disputes between the parties relating to this litigation in exchange for payment by 
AstraZeneca of $220m.  
 This matter has concluded. 
Legal proceedings brought by AstraZeneca 
Beyfortus Arbitration, US 
Considered to be a contingent asset and 
contingent liability 
 
 In June 2026, AstraZeneca commenced an arbitration proceeding before the International 
Chamber of Commerce against Sanofi Pasteur Inc. (Sanofi) in relation to a collaboration 
agreement concerning the development and commercialisation of Beyfortus.  The arbitration 
relates to alleged non-performance of certain obligations under the collaboration agreement.  
 Sanofi has filed counterclaims in relation to AstraZeneca’s obligations under the same agreement. 
PARP Inhibitor Royalty Dispute, 
UK 
Matter Concluded 
 In October 2012, Tesaro, Inc. (now wholly owned by GlaxoSmithKline plc (GSK)) entered into two 
worldwide, royalty-bearing patent license agreements with AstraZeneca related to GSK’s product, 
niraparib. 
 In May 2021, AstraZeneca filed a lawsuit against GSK in the Commercial Court of England and 
Wales (Trial Court) alleging that GSK had failed to pay all of the royalties due on niraparib sales 
under the license agreements. 
 In April 2023, after trial, the Trial Court issued a decision in AstraZeneca’s favour. 
 In February 2024, the Court of Appeal reversed the decision. 
 In March 2024, AstraZeneca filed a request for permission to appeal with the Supreme Court of 
the United Kingdom. In May 2024, the Supreme Court denied permission to appeal. 
 In July 2026, the parties agreed to settle the matter. 
 This matter has concluded. 
Government investigations and proceedings 
Legal proceedings brought against AstraZeneca 
Texas Qui Tam, US 
Matter concluded 
 
 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 November 2025, the State of Texas intervened in the matter. 
 In June 2026, the case settled for an immaterial amount. 
 This matter has concluded. 
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, New Mexico, North Dakota, Oklahoma, 
Oregon, Rhode Island, South Dakota, Tennessee, Utah, Vermont, Washington, and West Virginia 
challenging the constitutionality of each state’s 340B statute.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
36 
 
 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 favour of Louisiana in 
February 2026. AstraZeneca petition for rehearing was denied in July 2026. 
Farxiga Inflation Reduction Act 
Litigation, US 
Matter concluded 
 
 In August 2023, AstraZeneca filed a lawsuit in the Delaware federal court against the US 
Department of Health and Human Services (HHS) challenging aspects of the drug price 
negotiation provisions of the Inflation Reduction Act and the implementing guidance and 
regulations. In March 2024, the District Court granted HHS’ motions and dismissed AstraZeneca’s 
lawsuit. 
 In May 2025, the US Court of Appeals for the Third Circuit affirmed the District Court's dismissal 
of AstraZeneca's challenge. 
 In September 2025, AstraZeneca sought review by the US Supreme Court. 
 In May 2026, the US Supreme Court denied AstraZeneca's request for review. 
 This matter is now concluded. 
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. 
Matters disclosed in respect of the first quarter of 2026 and up to and including 28 April 2026,  
for which no updates disclosed in respect of the second quarter of 2026 and up to and including 
26 July 2026 
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.

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

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
37 
 
Legal proceedings brought by AstraZeneca 
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. 
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. 
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.

===== SIDA 38 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
38 
 
Note 6: Analysis of Revenue and Other operating income and expense 
Table 23: Product Sales year-on-year analysis: H1 2026 
The CER information in respect of H1 2026 included in the Interim financial statements has not been reviewed by KPMG LLP.  
 
For the half year  World US Emerging Markets Europe Established RoW 
ended 30 June  Change  Change  Change  Change  Change 
 
$m  Act %  CER %  $m  Act %  $m  Act %  CER %  $m  Act %  CER %  $m  Act %  CER %  
Tagrisso 3,775  8  6  1,579  10  1,048  4  -  769  17  8  379  (1) 2  
Imfinzi 3,548  31  29  2,008  28  398  35  32  781  45  34  361  15  20  
Calquence 1,944  19  16  1,286  18  137  33  26  442  20  11  79  9  7  
Lynparza 1,610  3  (1) 659  (4) 343  6  (1) 480  13  4  128  1  3  
Enhertu 662  55  49  -  -  440  51  47  132  41  28  90  n/m n/m 
Zoladex 607  7  2  9  4  480  9  4  81  13  5  37  (16) (18) 
Truqap 431  43  41  306  21  35  n/m n/m 65  n/m n/m 25  98  n/m 
Imjudo 160  (6) (7) 100  10  13  9  8  28  22  13  19  (22) (19) 
Datroway 5  n/m n/m -  -  5  n/m n/m -  -  -  -  -  -  
Etcamah 3  n/m n/m -  -  3  n/m n/m -  -  -  -  -  -  
Other Oncology 203  (6) (8) 4  (1) 141  (3) (6) 8  (19) (30) 50  (12) (7) 
Oncology 12,948  17  14  5,951  15  3,043  16  11  2,786  26  16  1,168  9  11  
Farxiga 3,997  (5) (11) 668  (17) 1,618  (6) (13) 1,586  10  1  125  (45) (45) 
Crestor 685  8  4  18  (23) 612  12  8  1  n/m 80  54  (16) (13) 
Brilinta 186  (64) (66) 16  (94) 142  4  -  24  (78) (80) 4  (35) (33) 
Lokelma 419  28  26  164  14  93  47  41  87  56  44  75  17  23  
Seloken 337  9  5  -  -  326  9  5  9  5  5  2  (1) (8) 
roxadustat 57  (62) (64) -  -  57  (62) (64) -  -  -  -  -  -  
Wainua 121  44  44  109  33  4  n/m n/m 7  n/m n/m 1  n/m n/m 
Baxfendy 3  n/m n/m 2  n/m 1  n/m n/m -  -  -  -  -  -  
Other CVRM 206  (25) (28) (9) n/m 145  5  1  42  (45) (49) 28  (14) (11) 
CVRM 6,011  (8) (12) 968  (28) 2,998  (2) (7) 1,756  3  (5) 289  (27) (25) 
Symbicort 1,418  (1) (4) 545  (9) 417  4  -  296  9  1  160  (5) (8) 
Fasenra 1,053  14  12  594  7  92  75  69  258  13  4  109  31  33  
Breztri 699  20  17  309  5  208  34  27  127  45  34  55  24  24  
Tezspire 321  62  54  -  -  44  n/m n/m 202  57  46  75  39  43  
Saphnelo 380  25  24  318  20  11  67  63  36  71  57  15  40  44  
Pulmicort 269  2  (3) 3  (6) 219  5  -  31  (9) (16) 16  (16) (17) 
Airsupra 87  24  23  78  12  9  n/m n/m -  -  -  -  -  -  
Other R&I 130  (18) (21) 15  (73) 55  (22) (26) 57  97  88  3  (1) (4) 
R&I 4,357  11  8  1,862  1  1,055  16  11  1,007  26  17  433  13  13  
Beyfortus 71  (44) (44) 61  (40) -  -  -  9  (62) (63) 1  (38) (29) 
FluMist 26  n/m n/m (2) n/m 1  n/m n/m -  -  -  27  n/m n/m 
Other ID 92  (43) (47) (1) (40) 70  (42) (46) 16  (39) (46) 7  (60) (58) 
ID* 189  (37) (40) 58  (42) 71  (41) (45) 25  (51) (55) 35  21  18  
Ultomiris 2,584  16  14  1,398  10  190  68  65  605  22  12  391  13  17  
Soliris 778  (20) (22) 414  (27) 248  10  6  61  (46) (50) 55  (20) (21) 
Strensiq 1,053  41  40  859  47  65  30  13  68  20  10  61  10  14  
Koselugo 347  26  21  94  (11) 115  52  42  99  39  28  39  74  80  
Other Rare Disease 149  32  25  58  7  34  73  47  41  20  10  16  n/m n/m 
Rare Disease 4,911  13  11  2,823  9  652  35  28  874  13  4  562  13  16  
Other Medicines 480  (6) (8) 42  6  359  (9) (11) 39  12  8  40  (3) (3) 
Total Medicines 28,896  8  5  11,704  6  8,178  8  3  6,487  16  7  2,527  4  6  
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 39 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
39 
 
Table 24: Product Sales year-on-year analysis: Q2 2026 (Unreviewed) 
The Q2 2026 information in respect of the three months ended 30 June 2026 included in the Interim financial statements has not been 
reviewed by KPMG LLP. 
 
For the quarter  World US Emerging Markets Europe Established RoW 
ended 30 June  Change  Change  Change  Change  Change 
 
$m  Act %  CER %  $m  Act %  $m  Act %  CER %  $m  Act %  CER %  $m  Act %  CER %  
Tagrisso 1,941  7  6  845  11  512  5  1  383  9  4  201  (3) 2  
Imfinzi 1,854  27  27  1,054  25  211  39  36  398  39  34  191  10  17  
Calquence 1,022  17  16  687  18  67  36  30  225  13  9  43  3  3  
Lynparza 829  (1) (3) 351  (7) 170  4  (2) 240  5  1  68  (2) 3  
Enhertu 338  47  44  -  -  223  43  41  68  34  28  47  n/m 98  
Zoladex 304  7  2  5  10  239  9  4  42  10  5  18  (23) (24) 
Truqap 233  37  37  168  18  17  n/m n/m 34  n/m n/m 14  77  85  
Imjudo 83  (7) (7) 51  (11) 7  (3) (3) 14  25  20  11  (21) (16) 
Datroway 4  n/m n/m -  -  4  n/m n/m -  -  -  -  -  -  
Etcamah 3  n/m n/m -  -  3  n/m n/m -  -  -  -  -  -  
Other Oncology 102  (4) (5) 2  58  69  (2) (5) 4  (15) (28) 27  (11) (3) 
Oncology 6,713  15  13  3,163  14  1,522  16  12  1,408  19  14  620  5  10  
Farxiga 1,804  (16) (19) 219  (48) 694  (19) (24) 808  6  1  83  (22) (19) 
Crestor 331  4  1  10  (18) 299  9  5  -  -  -  22  (31) (27) 
Brilinta 80  (62) (63) 2  (98) 66  5  3  11  (79) (80) 1  (31) (17) 
Lokelma 221  26  26  85  13  48  47  40  47  54  46  41  12  22  
Seloken 157  6  2  -  -  153  6  2  3  (1) (3) 1  12  4  
roxadustat 14  (81) (82) -  -  14  (81) (82) -  -  -  -  -  -  
Wainua 70  58  58  64  50  1  n/m n/m 4  n/m n/m 1  n/m n/m 
Baxfendy 3  n/m n/m 2  n/m 1  n/m n/m -  -  -  -  -  -  
Other CVRM 91  (34) (35) (7) n/m 70  5  2  14  (64) (64) 14  (20) (14) 
CVRM 2,771  (15) (18) 375  (44) 1,346  (11) (15) 887  -  (4) 163  (16) (12) 
Symbicort 671  (6) (8) 254  (20) 191  14  10  145  6  2  81  (12) (14) 
Fasenra 570  14  13  338  10  46  81  75  129  3  (1) 57  29  34  
Breztri 346  22  20  161  9  93  43  35  62  36  31  30  23  26  
Tezspire 172  54  51  -  -  24  n/m n/m 107  49  42  41  33  41  
Saphnelo 209  25  24  175  21  7  68  64  19  58  51  8  31  38  
Pulmicort 120  13  9  2  11  97  20  15  14  (5) (9) 7  (17) (17) 
Airsupra 50  19  18  45  9  5  n/m n/m -  -  -  -  -  -  
Other R&I 69  13  9  7  (55) 27  (1) (8) 33  n/m n/m 2  6  5  
R&I 2,207  11  9  982  -  490  29  24  509  21  16  226  9  11  
Beyfortus 47  (52) (52) 38  (49) -  -  -  8  (66) (67) 1  34  58  
FluMist 18  79  78  (2) n/m 1  n/m n/m -  -  -  19  90  82  
Other ID 34  (31) (34) (1) 73  30  (20) (26) 1  78  69  4  (68) (66) 
ID* 99  (37) (38) 35  (52) 31  (18) (24) 9  (62) (64) 24  7  6  
Ultomiris 1,314  12  12  719  8  87  42  41  307  14  9  201  12  19  
Soliris 389  (27) (28) 199  (29) 135  (15) (19) 28  (50) (50) 27  (21) (22) 
Strensiq 536  36  36  452  42  16  2  2  37  20  14  31  7  15  
Koselugo 177  29  27  52  -  54  51  45  50  34  27  21  78  90  
Other Rare Disease 74  36  33  30  8  13  n/m n/m 20  11  5  11  n/m n/m 
Rare Disease 2,490  9  8  1,452  8  305  10  6  442  7  3  291  13  20  
Other Medicines 230  (4) (6) 19  (9) 166  (10) (13) 25  52  51  20  12  14  
Total Medicines 14,510  5  4  6,026  3  3,860  4  -  3,280  11  7  1,344  4  9  
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 40 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
40 
 
Table 25: Alliance Revenue: H1 2026 
For the half year ended 30 June 2026  
$m  
2025  
$m  
Enhertu 1,058  834  
Tezspire 372  285  
Beyfortus 123  109  
Datroway 93  14  
Other royalty revenue 51  48  
Other Alliance Revenue 2  3  
Total 1,699  1,293  
Table 26: Collaboration Revenue: H1 2026 
For the half year ended 30 June 2026  
$m  
2025  
$m  
Farxiga: sales milestones 44  77  
Crestor: sales milestones 32  -  
Other Collaboration Revenue 1  5  
Total 77  82  
 
Table 27: Other operating income and expense: H1 2026 
For the half year ended 30 June 2026  
$m  
2025  
$m  
Total 341 192

===== SIDA 41 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
41 
 
 
Financial calendar 
– Announcement of 9M and Q3 2026 results: 30 October 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 
2026 First interim  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, 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 2026 First interim dividend. 
 
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. 
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); Tezspire, a trademark of Amgen, Inc; and Zegrofy a trademark of Dizal (Jiangsu) Pharmaceuticals Co., Ltd. 
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 42 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
42 
 
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 43 =====

Summary  Revenue Drivers  R&D Progress  Sustainability  Financial Performance  Financial Statements  Glossary  
 
43 
 
1L, 2L, etc First line, second line, etc 
aBC Advanced breast cancer 
aHUS Atypical haemolytic uraemic syndrome 
ASCO American Society of Clinical Oncology 
ATTR / -CM / -PN Transthyretin-mediated amyloid / 
cardiomyopathy / polyneuropathy 
BCG Bacillus Calmette-Guérin therapy 
BRCA / m Breast cancer gene / mutation 
BTKi Bruton tyrosine kinase inhibitor 
CDK4 Cyclin-dependent kinase 4 
CER Constant exchange rates 
CHMP Committee for Medicinal Products for Human 
Use (EU) 
CI Confidence interval 
CLL Chronic lymphocytic leukaemia 
CN China 
COPD Chronic obstructive pulmonary disease 
CRSwNP Chronic rhinosinusitis with nasal polyps 
CV Cardiovascular 
CVRM Cardiovascular, Renal and Metabolism 
EBITDA Reported Profit before tax after adding back Net 
finance expense, results from joint ventures and 
associates, and charges for Depreciation, 
amortisation and impairment 
ECE European Congress of Endocrinology 
EFS Event free survival 
EGFR / m Epidermal growth factor receptor gene / 
mutation 
EGFR / m Epidermal growth factor receptor gene / 
mutation 
EGPA Eosinophilic granulomatosis with polyangiitis 
EPS Earnings per share 
ER Oestrogen receptor 
ERA European Renal Association 
ESR1 / m Oestrogen Receptor 1 gene / mutation 
EU Europe (in financial tables) or European Union 
EVH Extravascular haemolysis 
FDA US Food and Drug Administration 
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 Gynaecological 
HCC Hepatocellular carcinoma 
HER2 / +/- /low /m Human epidermal growth factor receptor 2 gene 
/ positive / negative / low expression / mutant 
HES Hypereosinophilic syndrome 
HPP Hypophosphatasia 
HR / + / - Hormone receptor / positive / negative 
HSCT-TMA Hematopoietic stem cell transplantation-
associated thrombotic microangiopathy 
ICCBH International Conference on Children's Bone 
Health 
ICS Inhaled corticosteroid 
ID Infectious Disease 
IgAN Immunoglobulin A neuropathy 
IHC Immunohistochemistry 
IL-5, IL-33, etc Interleukin-5, interleukin-33, etc  
ISH In situ hybridization 
JP Japan 
LABA Long-acting beta-agonist 
LAMA Long-acting muscarinic-agonist 
MCL Mantle cell lymphoma 
mCRPC Metastatic castration-resistant prostate cancer 
RGI-C Radiographic Global Impression of Change 
mHSPC Metastatic hormone sensitive prostate cancer 
MIBC Muscle-invasive bladder cancer 
n/m Growth rate not meaningful 
NGP Next-generation propellant 
NMIBC Non muscle-invasive bladder cancer 
NMOSD Neuromyelitis optica spectrum disorder 
NRDL National reimbursement drug list 
NSCLC Non-small cell lung cancer 
OS Overall survival 
PARP Poly ADP ribose polymerase 
PD Progressive disease 
PDE3 Phosphodiesterase 3 enzyme 
PFS Progression free survival 
PNH Paroxysmal nocturnal haemoglobinuria 
PR Partial response 
PTEN Phosphatase and tensin homologue gene 
R&I Respiratory & Immunology 
RGI-C Radiographic Global Impression of Change 
SG&A Sales, general and administration 
STRIDE Single tremelimumab regular interval 
durvalumab 
TACE Transarterial chemoembolisation 
TKI Tyrosine kinase inhibitor 
TMA Thrombotic microangiopathy 
TNBC Triple negative breast cancer 
VBP Volume-based procurement 
 
 
Glossary