AstraZeneca (AZN) Deutsche Bank’s Depositary Receipts Virtual Investor Conference summary

Recent performance and strategic focus

• Achieved over $45 billion in revenue in 2023, with 12 blockbuster medicines and nearly $11 billion invested in R&D.

• Focused on five key therapeutic areas and a pipeline of over 120 phase II and III projects.

• Strategic pillars include science and innovation, therapy area leadership, and sustainability.

Research and development and innovation

• Updated R&D framework to include digital solutions, enhancing productivity to 19% vs. 14% industry average.

• Broad pipeline spans oncology, CVRM, respiratory, immunology, vaccines, and rare diseases.

• Investing in disruptive categories like weight management, ADCs, radioconjugates, and next-gen immuno-oncology.

Growth, financial targets, and portfolio evolution

• Set an ambitious revenue target of $80 billion by 2030, with growth from existing and new medicines.

• Targeting a mid-30s core operating margin by 2026, with R&D spend in the low 20s% of revenue.

• Portfolio evolution and life cycle management expected to drive sustained growth beyond 2030.