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

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We look forward to welcoming Pfizer employees who have been driving this program forward, increasing our gene therapy team to over 80 specialists. Together with all my colleagues at Alexion, we are excited to continue our work developing enhanced platform in technologies, leveraging the expertise across a larger group to deliver life-changing medicines to patients where there are limited or no long-term treatment option. And with that, please advance to the next slide, and I will hand over the call to Pascal for closing remarks.

Pascal Soriot: Thank you, Marc. Next slide, please. Before I make my concluding remarks, I would like to take a minute to recognize the important steps we are taking to tackle the climate crisis in particular, our Ambition Zero Carbon program is on track, and we have made significant steps towards achieving our science-based targets. Firstly, we announced our partnership with Vanguard Renewables, allowing us to deliver renewable natural gas, a source of clean hit to all our US sites, manufacturing and R&D sites, by the end of 2026. We also significantly expanded our AZ Forest program with a commitment of $500 million to plant and maintain 200 million trees across six continents by 2030. The expanded program with sequester carbon supported by diversity and deliver benefits to local communities, positively impacting an estimated 80,000 livelihoods.

Lastly, our transition plan is verified by the science-based target initiative, which focuses on deep decarbonization, allowing for only 10% residual emissions removals by 2045. Scope 3 remains to be our largest challenge, and we are committed to partnering with our suppliers. Last week, private sector members of the SMI’s Health System Task Force, which have convene sent an open letter calling on surplus to commit to join minimum climate and sustainability targets that contribute to decarbonizing the health care value chain. We’re playing a leading role in this space, doing our part to limit the impact on climate change while unlocking opportunities to deliver more sustainable health care system. Please move to the next slide. We have an exciting second half of the year ahead with a number of important pivotal trial readouts, including two trials in breast cancer, TROPION-Breast01 and CAPItello-290.

Two trials — we also have two trials of Imfinzi and non-small cell lung cancer, NHCC. We have a trial with Fasenra in EGPA as well as the first results of our next-generation COVID-19 antibody AZD3152. We also have a rich catalyst pass in 2024 which given current even production rates will now include DESTINY-Breast06 and low our results from both of which we are now — which both of which are now expected in the first half of 2024. The progress that we are making in our pipeline overall is inspiring, and I’m excited for when we have the opportunity to share data — to share the full data from the many studies we have showcased during this call, at upcoming medical congresses. Now please advance to the next slide. Finally, before we turn to Q&A.

Earlier today, we announced that Mene Pangalos will retire after almost 14 years, with the company and a great 35-year career. Mene will be succeeded by Sharon Barr, currently Head of Research and Product Development at Alexion. When Alexion joined AstraZeneca two years ago, a key priority was ensuring that our shared organization would benefit from the world-class talent as Alexion brings. From day one Sharon stood as an exceptional Scientific Leader. Sharon brings tremendous experience that with potential to advancing our biopharmaceuticals pipeline, along with a strong track record for driving productivity and fostering innovation. His experience coupled with our leadership’s talent, passing for developing people, places how perfectly to take over the reins from Mene and help us, provide the next chapter of success.

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