AstraZeneca PLC (NASDAQ:AZN) Q2 2023 Earnings Call Transcript

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Susan Galbraith: So thanks for the question, Matt. So as you’re aware, we’ve not indicated when the final analysis are going to be conducted for TL-01. When we’ve got — it’s an event rate driven as expected and when we’ve got the projected event rate we can update that. But just for you, in the meantime, when considering the outlook in the maturity, just bear in mind that this is the second, third-line non-small cell lung cancer patient population. And unfortunately, for those patients median OS is still not long. So with those attacks, obviously, it’s 10 to 12 month range is typically what you would expect. So, it’s not hugely prolonged versus progression-free survival.

Pascal Soriot: Thanks Susan. So Eric Le Berrigaud. I ask everybody to stick to one, and not cheat. Please Eric.

Eric Le Berrigaud: I would like to try. First was on HER3, actually as it target in ADC still continuing to see good data coming from your partners product, and some physicians would like you to embark into this partnership as well. Is there any option? And are you still discussing to get access to it? And if not, are you nonetheless interested by these targets? And are you then considering doing one proprietary product with any kind of construct? And maybe if I can try a very, very short one in rare disease, putting together Soliris and Ultomiris until the R&D deliveries will represent probably 80% of sales for the next two or three years with some biosimilars coming in Europe first and competition growing. Can you maybe give a little bit of confidence into the ability to maintain, or slightly grow sale for the two together for the next two or three years? Thank you.

Susan Galbraith: Thanks for the question about the HER3. You’re talking about datopotamab deruxtecan. So obviously, there’s going to be some data presented at the upcoming World Congress on Lung Cancer. Obviously, we’ve got an ongoing clinical collaboration with deruxtecan on this as part of the ORCHARD study in patients with EGFR mutated and non-small cell lung cancer, looking in combination with osimertinib in that setting. When we’re looking at ADCs in general and making some of the choices that we’ve made in recent business development in that space, we’re looking at the overall benefit risk ratio versus what we’ve already got with our internal assets and already partnered assets. So we’ll look forward to seeing the updated clinical data both as monotherapy and in combination with osimertinib, which we get access to.

And we — I’d also just say that we’re excited about our internal portfolio that’s progressing. We have 784 [ph] ADC. We now have the EGFR bispecific ADC and alpha-targeted ADC or with our proprietary link warhead with the [indiscernible]. So these decisions are made in the context of that internal portfolio that we’ve got as well.

Marc Dunoyer: Eric, thank you for your question on the future of the C5 franchise. So if you refer only to Soliris and Ultomiris, there will be a continued growth and it will be supported by both regional expansion, but also by expansion of indications. But I want to take the opportunity to also signal or remind you of the 1720 the minibody, which is our C5 third generation, which is presently undergoing Phase III trials, which could also provide some further options to physicians and patients.

Pascal Soriot: We’ll take two more questions, and then we’ll have to close for the day. Peter Welford, over to you, Peter.

Peter Welford: Thank you. I will just stick to one question. So we’ll start with China. I wonder, given the changes that you mentioned with regards to the NRDL and some of the recent sort of reforms we’ve heard, just wondered AstraZeneca’s attitude towards China and investment there has changed at all. I mean, recently, you’ve sort of called a little bit with the expansion of spend and investment in the country and even perhaps pulled back on some resources. Just wondering your current thoughts on investment and further investment in China from here and whether there’s any change at all in how you see the longer-term market there with the changes? Thank you.

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