AstraZeneca Cover
Strategic Analysis 2024

ASTRAZENECA

Science-Led Biopharmaceutical Company

Global Pharmaceutical Leader • Strategic Analysis & Future Outlook
Innovation-Driven Growth

Agenda

Table of Contents

01

Market Position

Global pharmaceutical leadership, competitive landscape, and AstraZeneca's position as a top-tier biopharmaceutical innovator

02

Business Portfolio

Five core therapy areas: Oncology, CVRM, R&I, V&I, and Rare Disease with blockbuster medicines and emerging therapies

03

Financial Performance

2024 results: $54.1B total revenue, 21% growth, strong profitability, and robust cash generation

04

Strategic Initiatives

Ambition 2030, R&D innovation, pipeline acceleration, and next-generation therapeutic platforms

05

Future Outlook

Ambition 2030 roadmap to $80B revenue, 20 new medicines, and leadership in precision medicine

Total Revenue 2024

$54.1 B

R&D Investment

$8.9 B

Global Presence

100+ Countries

Chapter 1
Chapter 01

Market
Position

Global Pharmaceutical Leadership & Innovation Excellence

Company Overview

Science-Led Biopharmaceutical Leader

Corporate Foundation

AstraZeneca PLC is a global, science-led biopharmaceutical company focused on the discovery, development, and commercialization of prescription medicines. Founded in 1913 and headquartered in Cambridge, UK, the company has transformed into an innovation-driven pharmaceutical leader.

Under CEO Pascal Soriot, AstraZeneca has executed a remarkable turnaround, pivoting from traditional pharmaceuticals to science-led biopharmaceutical innovation with industry-leading R&D productivity and pipeline strength.

1913

Founded

100+

Countries

89K+

Employees

Global Market Leadership

Market Cap (Aug 2025)

$250B

Global Pharma Ranking

Top 10

Strategic Advantages

Science-Led Innovation

Industry-leading R&D productivity and pipeline

Diversified Portfolio

Five core therapy areas with multiple blockbuster drugs

Global Reach

Presence in 100+ countries with strong emerging market position

Sustained Growth

Consistent double-digit revenue growth and margin expansion

Source: AstraZeneca Annual Report 2024, Company Filings

London Stock Exchange NASDAQ

Business Portfolio

Five Core Therapy Areas

Oncology

43%

Largest and fastest-growing segment with market-leading medicines across multiple tumor types.

Key Brands: Tagrisso, Lynparza, Imfinzi, Enhertu, Calquence

CVRM

22%

Cardiovascular, Renal & Metabolism led by Farxiga, the world's leading SGLT2 inhibitor.

Key Brands: Farxiga, Brilinta, Crestor, Roxadustat

R&I

18%

Respiratory & Immunology with biologic medicines for severe asthma and COPD.

Key Brands: Symbicort, Fasenra, Breztri, Tezspire

Vaccines & Immuno

10%

Vaxzevria, FluMist, Beyfortus

Rare Disease

7%

Soliris, Koselugo, Ultomiris

Growth 2024

+21%

All segments

pan>T-cell engager, multiple cancers
Datroway:ADC, breast & lung cancer

R&D Investment

$8.9B
R&D Spend FY24
74
Pipeline Projects
20+
Approvals Target
15%
R&D/Revenue

INNOVATION PIPELINE

Key Products & Growth Drivers

Flagship medicines driving revenue growth with expanding indications

Oncology Blockbusters

Tagrisso$5.4B

EGFRm NSCLC, early-stage treatment, market expansion

Imfinzi$4.8B

Immuno-oncology, SCLC, HCC, bladder cancer

Calquence$2.9B

Blood cancers, CLL, mantle cell lymphoma

CVRM & Rare Disease

Farxiga$6.8B
SolirisRare
KoselugoNF1

Recent Launches

Truqap: Breast cancer, $430M FY24
Datroway: ADC, FDA approved 2025
Tezspire: Severe asthma, growing
AstraZeneca
CHAPTER THREE

Global Market
Position

Balanced geographic presence with strong growth across all regions

100+
Countries
Emerging
Markets Focus

GLOBAL MARKET POSITION

Regional Performance & Growth

Strong performance across established and emerging markets

Revenue by Region (FY2024)

Regional Highlights

US (39%)

Largest market, strong oncology uptake, Part D impact

Emerging Markets (33%)

China leadership, India growth, Latin America expansion

Europe (20%)

Oncology growth, rare disease launches

China Strategy

$6B+ revenue, 20+ medicines approved, R&D partnerships, NRDL access driving growth.

GLOBAL MARKET POSITION

Access & Sustainability Leadership

Expanding access to medicines while advancing environmental sustainability

Access Strategy

Healthy Heart Africa

40M+ screened, hypertension management programs

Lung Cancer Screening

Early detection programs, biomarker testing access

COVID-19 Response

Vaccine development, pandemic preparedness initiatives

Sustainability Goals

Carbon Neutrality2030
Water Reduction-30%
Waste Reduction-50%

Access Metrics

100+ countries reached
NRDL listings in China
Patient assistance programs
Generic drug access initiatives
AstraZeneca
CHAPTER FOUR

Financial
Excellence

Strong financial performance enabling continued innovation investment

19%
EPS Growth
$8.9B
R&D Investment

FINANCIAL EXCELLENCE

Strong Financial Performance & Returns

Balanced growth investment and shareholder returns

Key Financial Metrics

Revenue Growth21%

Constant currency basis, broad-based growth

Core EPS Growth19%

Strong operational leverage and margin expansion

Free Cash FlowStrong

Robust cash generation funding investments

Capital Allocation

R&D Investment$8.9B
Dividend$3.10
AcquisitionsStrategic

2025 Guidance

High single-digit revenue growth
Low double-digit EPS growth
Continued dividend increases
AstraZeneca
CHAPTER FIVE

Future
Outlook

Ambition 2030: Pioneering science to transform patient outcomes

$80B
Revenue Target
20+
New Medicines

FUTURE OUTLOOK

Ambition 2030 Strategy

Transformative growth strategy targeting $80B revenue and 20+ new medicines

Strategic Priorities

1
Oncology Leadership

Double oncology revenue, ADC platform expansion

2
Rare Disease Growth

Rare disease portfolio expansion, gene therapy

3
Emerging Markets

China innovation, global access expansion

Growth Drivers

Platform Tech:ADCs, cell therapy, RNA therapeutics
AI & Digital:AI-driven drug discovery, digital health
Partnerships:Strategic alliances, biotech collaborations
Biosimilars:Portfolio expansion, emerging markets

Key Targets

$80B
Revenue 2030
20+
New Medicines
2x
Oncology Growth
15%
R&D/Revenue

FUTURE OUTLOOK

ESG & Patient Impact

Sustainable business practices improving global health outcomes

Sustainability Strategy

C
Carbon Neutrality

Science-based targets, net-zero by 2030, renewable energy

H
Healthy Communities

Access programs, health equity, patient support

E
Ethical Standards

Compliance, transparency, governance excellence

Patient Impact

200M+
Patients treated annually
Access Programs

100+ countries, patient assistance, affordability initiatives

Recognition

FTSE4Good Index
Dow Jones Sustainability Index
CDP Climate A List

FUTURE OUTLOOK

Challenges & Risk Management

Navigating industry challenges with robust risk mitigation strategies

Key Challenges

Patent Cliff

Symbicort, Calquence exclusivity loss, generic competition

Regulatory Risk

Approval delays, safety issues, pricing pressures

Pricing Pressure

US Part D redesign, European austerity, emerging market access

Risk Mitigation

Portfolio Diversification

Multiple therapeutic areas, pipeline depth, geographic spread

Lifecycle Management

New indications, formulations, combinations, geographic expansion

Strategic Partnerships

Risk-sharing, M&A, licensing deals, academic collaborations

AstraZeneca
STRATEGIC OUTLOOK

Science-Led
Biopharmaceutical Leader

AstraZeneca's robust pipeline, balanced portfolio, and strong execution position the company for continued growth and leadership in transforming patient outcomes globally.

21%
Revenue Growth
20+
New Medicines 2030
200M+
Patients Annually

Oncology Leadership • Innovation Excellence • Global Access • Sustainable Growth

Core Business Segment

Oncology Excellence

Market Leadership

Oncology is AstraZeneca's largest and fastest-growing therapy area, representing 43% of total revenue with industry-leading medicines across multiple tumor types and treatment settings.

The company has established sustained global PARP inhibitor market leadership with Lynparza, while Enhertu has become the standard of care in HER2-positive and HER2-low metastatic breast cancer.

2024 Revenue

$23.2B

Growth Rate

+24%

Strategic Focus: Tumor-agnostic approaches, precision medicine, and immuno-oncology combinations.

Key Oncology Brands

Tagrisso (EGFRm NSCLC)

$6.5B

Lynparza (PARP inhibitor)

$4.2B

Enhertu (HER2 ADC)

$3.6B

Imfinzi (Immuno-oncology)

$3.1B

Innovation Platforms

Antibody-Drug Conjugates (ADCs)

Enhertu, datopotamab deruxtecan

Immuno-Oncology

Imfinzi, Imjudo combinations

Pipeline Assets

15+

Late-stage oncology

Global Reach

100+

Markets

Growth Outlook

Strong

Sustained growth

Growth Segments

CVRM & R&I Excellence

Cardiovascular, Renal & Metabolism

CVRM is AstraZeneca's second-largest therapy area, led by Farxiga (dapagliflozin), the world's leading SGLT2 inhibitor with expanding indications across heart failure, chronic kidney disease, and type 2 diabetes.

Farxiga has demonstrated unprecedented cardiovascular and renal protection benefits beyond glycemic control, creating new treatment paradigms and significant market expansion opportunities.

2024 Revenue

$11.9B

Growth Rate

+20%

Key Brands: Farxiga, Brilinta, Crestor, Roxadustat

Respiratory & Immunology

R&I represents AstraZeneca's biologics franchise for severe respiratory diseases, led by Fasenra for severe asthma and the rapidly growing Tezspire, which addresses a broader severe asthma population.

The segment benefits from biologic-driven treatment paradigms that transform care for patients with severe asthma and COPD, with significant unmet medical need.

2024 Revenue

$9.7B

Growth Rate

+25%

Key Brands: Symbicort, Fasenra, Breztri, Tezspire

CVRM Growth Drivers

Heart failure prevention and treatment

Chronic kidney disease protection

Cardiovascular outcomes benefits

R&I Innovation

Biologics for severe asthma

Precision medicine approaches

Triple combination therapies

Specialty Areas

Vaccines & Rare Disease

Vaccines & Immuno

AstraZeneca's vaccine portfolio includes Beyfortus for RSV protection in infants, and established vaccines for influenza and COVID-19, demonstrating the company's commitment to infectious disease prevention.

2024 Performance

Total Revenue

$5.4B

Growth Rate

+8%

Key Products: Beyfortus (RSV), FluMist (influenza), Vaxzevria (COVID-19)

Vaccine Innovation

mRNA technology platform development

Pediatric infectious disease prevention

Pandemic preparedness capabilities

Rare Disease

Alexion Rare Disease portfolio represents a high-value, low-competition segment with significant unmet medical need and strong pricing power, complementing AstraZeneca's broader portfolio.

2024 Performance

Total Revenue

$3.8B

Growth Rate

+16%

Key Products: Soliris, Ultomiris, Koselugo

Rare Disease Advantages

High-value, low-competition markets

Strong pricing power and reimbursement

Dedicated patient communities

Strategic Value

Vaccines & Rare Disease provide portfolio diversification and high-value growth opportunities that complement AstraZeneca's core therapy areas. These segments offer distinct competitive advantages, from pandemic preparedness capabilities to rare disease pricing power, strengthening the company's long-term strategic position.

Chapter 2
Chapter 02

Business
Portfolio

Diversified Portfolio Across Five Core Therapy Areas

Financial Overview

Revenue Performance

2024 Results

Total Revenue

$54.1B

CER Growth

+21%

Exceptional performance driven by strong demand across all therapy areas.

Key Performance Drivers

Strong volume growth: Oncology +24%, CVRM +20%, R&I +25%

Geographic expansion: Emerging markets +15% growth

Pipeline execution: 9 positive Phase III studies in 2024

2020

$26.6B

Base year

2021

$37.4B

COVID products

2022

$44.4B

Sustained growth

2023

$45.8B

Core growth

Profitability

Profitability Excellence

2024 Profitability

Core EPS

$8.21

CER Growth

+19%

Strong earnings growth reflecting operational leverage and margin expansion.

Margin Drivers

Gross Margin

66%

R&D Investment

19%

Industry-leading margins supporting sustained R&D investment.

Cash Generation

Strong cash flow from operations of $12.2B (9M 2025), funding R&D and business development.

Capital allocation: Invest in pipeline, maintain investment grade rating, progressive dividend

Profit Contribution

Oncology generates 60%+ of operating profit with industry-leading margins, while CVRM and R&I deliver strong profitability.

Operating leverage: Double-digit EPS growth outpacing revenue

Shareholder Returns

Progressive dividend policy with $3.10 per share declared for 2024, representing 7% increase.

2025 outlook: Further dividend increases expected

Market Dynamics

Competitive Landscape

Pharmaceutical Giants Comparison

AstraZeneca

Innovation Leader

$54.1B

2024 Revenue

Pfizer

Diversified Pharma

~$59B

2024 Est.

Novartis

Swiss Pharma

~$50B

2024 Est.

Merck & Co

US Pharma

~$64B

2024 Est.

Johnson & Johnson

Diversified Healthcare

~$88B

2024 Est.

Competitive Advantages

1

R&D Productivity

Industry-leading pipeline with 9 positive Phase III studies in 2024 and 7 expected in 2025.

2

Oncology Leadership

43% of revenue from oncology with market-leading positions in PARP inhibitors and ADCs.

3

Emerging Markets

Strong presence in China and emerging markets with 15% growth in 2024.

4

Science-Led Culture

Deep scientific expertise and culture of innovation driving sustained pipeline success.

Market Position

Top 10

Global Pharma

Growth Ranking

Top 3

Large Pharma

Pipeline Quality

#1

Industry Leading

Chapter 3
Chapter 03

Financial
Performance

Strong Revenue Growth & Margin Expansion

Strategic Initiatives

Ambition 2030 & Innovation

Ambition 2030

AstraZeneca's ambitious strategy aims to launch at least 20 new medicines and achieve $80 billion in Total Revenue by 2030, with sustained growth thereafter.

New Medicines

20+

Revenue Target

$80B

This represents a transformational period with unprecedented catalysts and next-generation platforms.

R&D Innovation

AstraZeneca invested $8.9 billion in R&D in 2024, driving innovation across four transformative technology platforms.

Biologics and monoclonal antibodies

Nucleic acid therapies

Targeted protein degradation

Pipeline Strength

2025 catalyst-rich period with seven new medicines expected to reach Phase III trials.

Phase III 2025

7

Pipeline Assets

170+

AI Integration

AI and machine learning integrated across drug discovery and clinical trials, including $247M Absci partnership for generative AI antibodies.

Strategic Partnerships

Key alliances with Daiichi Sankyo (Enhertu) and Merck (Lynparza) generating $3.8B+ collaboration revenue.

China Expansion

Leading Western pharma in China with 15+ new medicines planned by 2025 and strong NRDL access.

Chapter 4
Chapter 04

Strategic
Initiatives

Ambition 2030, R&D Innovation & Pipeline Acceleration

Chapter 5
Chapter 05

Future
Outlook

Ambition 2030 Roadmap & Long-term Growth Strategy

Future Strategy

Growth Strategy & Outlook

2025-2030 Vision

AstraZeneca is positioned for sustained double-digit growth driven by pipeline execution, geographic expansion, and next-generation therapeutic platforms.

2025 Guidance

High SD

2030 Target

$80B

Key Growth Drivers

Pipeline Execution

20+ new medicines by 2030

Emerging Markets

China leadership and expansion

Next-Gen Platforms

Cell therapy, ADCs, radioconjugates

Precision Medicine

Biomarker-driven development

Strategic Priorities

1. Pipeline Delivery

Execute on 170+ pipeline assets and 7 Phase III readouts in 2025

2. Geographic Expansion

Strengthen China presence and expand into new emerging markets

3. Technology Leadership

Advance ADC, cell therapy, and radioconjugate platforms

4. Sustainability & Access

Lead on climate action and improve global health equity

Market Opportunities

Oncology market growth

Strong

Cardiorenal protection

Expanding

Biologic asthma treatment

High Growth

Rare disease innovation

Premium

Long-term Outlook

AstraZeneca's industry-leading pipeline, science-led innovation, and diversified portfolio position it to deliver sustainable double-digit growth through 2030. The company's balanced approach to innovation, geographic expansion, and technology leadership creates a compelling investment proposition for long-term shareholders.

Summary

Key Takeaways

AstraZeneca Strategic Analysis 2024

01

Innovation Leadership

Global biopharmaceutical leader with $54.1B revenue, 21% growth, and industry-leading R&D productivity.

02

Oncology Dominance

43% of revenue from oncology with market-leading positions in PARP inhibitors, ADCs, and immuno-oncology.

03

Ambition 2030

Path to $80B revenue by 2030 with 20+ new medicines and next-generation therapeutic platforms.

04

Pipeline Excellence

170+ pipeline assets with 7 Phase III readouts expected in 2025 and sustained innovation momentum.

05

Global Expansion

Strong emerging market presence with 15% growth and China leadership position.

06

Science-Led Culture

Deep scientific expertise driving breakthrough innovations and transformative patient outcomes.

AstraZeneca: Science. Innovation. Value.

"Pioneering science that redefines cancer care and transforms patient outcomes across the world"