AstraZeneca (AZN) Investor update summary

Strategic Growth Outlook and Pipeline Progress

• Reinforced $80 billion risk-adjusted total revenue ambition for 2030, with sustained growth beyond that year, driven by strong commercial execution, a robust pipeline, and existing portfolio.

• Respiratory and Immunology (R&I) portfolio, including tozorakimab, is a key growth driver, with multiple late-stage and recently launched products delivering double-digit growth and fueling future expansion.

• Multiple high-value assets across biopharma, oncology, and rare disease are expected to provide durable long-term growth, with pipeline momentum expected through 2027.

• Twelve programs in the pipeline have peak sales potential exceeding $5 billion, with pivotal data anticipated before 2030.

• Revenue ambition is risk-adjusted and not dependent on future mergers and acquisitions.

Tozorakimab Phase III Data and Clinical Impact

• Phase III OBERON and TITANIA studies showed tozorakimab significantly reduced moderate and severe COPD exacerbations by up to 34%, with efficacy across all eosinophil levels, airflow obstruction, and smoking status.

• Efficacy was demonstrated across all eosinophil levels, including a 23% reduction in patients with eos <150, 34% in ≥150, and 43% in ≥300 cells/μL.

• Tozorakimab is the first biologic to show benefit in the broadest COPD population, including those with no current biologic options.

• Cumulative exacerbation counts were lower with tozorakimab throughout the 52-week study period.

• Tozorakimab is positioned as a first-in-class biologic with replicated efficacy in a broad COPD population.

Safety and Tolerability

• Tozorakimab was generally well tolerated, with adverse event rates similar to placebo, except for higher injection-site reactions.

• Serious adverse events and discontinuations were comparable between treatment and placebo groups.

• Major adverse cardiovascular events were infrequent and balanced across groups.