29 April 2016
Financial Summary
+——————-+—–+—-+——+
| | $m | % change |
+——————-+—–+—-+——+
| | |CER1|Actual|
+——————-+—–+—-+——+
|Total Revenue2 |6,115| 5 | 1 |
+——————-+—–+—-+——+
| | | | |
+——————-+—–+—-+——+
|Core3 Op. Profit |1,593|(8) | (12) |
+——————-+—–+—-+——+
|Core EPS |$0.95|(7) | (12) |
+——————-+—–+—-+——+
| | | | |
+——————-+—–+—-+——+
|Reported Op. Profit|1,038| 17 | 11 |
+——————-+—–+—-+——+
|Reported EPS |$0.51| 26 | 17 |
+——————-+—–+—-+——+
· Total Revenue grew by 5%, driven by a significant increase in
Externalisation Revenue
· Core R&D costs increased by 15%, reflecting recent acquisitions; Core R&D
costs declined versus Q4 2015
· Core SG&A costs fell by 6% and represented 35% of Total Revenue (Q1 2015:
39%)
· Core EPS declined by 7%, reflecting a significant reduction in Other
Operating Income
· Reported Operating Profit grew by 17% to $1,038m. Reported EPS grew by 26%
to $0.51
· FY 2016 CER guidance unchanged
Commercial Highlights
The Growth Platforms grew by 6%, representing 56% of Total Revenue:
1. Respiratory: +2%. Growth of Pulmicort and newly-acquired medicines offset by
a decline in sales of Symbicort
2. Brilinta/Brilique: +46%. Continued encouraging progress; post-MI approval in
the EU
3. Diabetes: +23%. Strong sales growth included an increase of +65% in Emerging
Markets.
Global Farxiga/Forxiga growth of 128%
4. Emerging Markets: +6%. Good China sales growth of +11%; slowdowns in other
regions
5. Japan: -7%, reflecting destocking ahead of mandated biennial price reductions
from April 2016
6. New Oncology: Contributed $99m. Launch of Tagrisso in key markets progressing
well
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associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/7481W_1-2016-4-28.pdf
