AstraZeneca PLC (NASDAQ:AZN) Q4 2022 Earnings Call Transcript

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It is important to continue helping patients and HCPs to understand that. And I do believe that, that will definitely then impact the utilization across the globe.

David Fredrickson: Okay. So, I think on — Chris, for the first piece and Pascal alluded to this, I mean, we really do believe that Calquence is well positioned within the next-generation BTKI class. And I think that it’s worth spending a minute on a couple of the things that underscore that conviction and are also part of the readiness and training that we’ve got across the globe as we do come into a more competitive space. I think first and foremost, it’s important to note that we’ve done our own important work to be taking a look at a matched indirect comparison which is important to do. And as you do that, Ascend and Alpine really do show very similar results. We’re in the midst of doing a similar piece of work to look at ELEVATE-TN and SEQUOIA.

And I think that the reason for this is pretty straightforward which is that the indirect or the cross-trial comparisons that were being made between the 2 head-to-head studies where really not very appropriate comparisons to be made because they’re looking at very different treatment populations. So on the efficacy dimension, we see very well positioned. I think also of note in terms of hypertension and also neutropenia. Calquence absolutely could have some opportunities for differentiation there. That’s resonating with our advisers as well. So when we take a look at the exit share that we had in 2022 and the frontline CLL setting, we eclipsed 60%, getting close to 65%. We see even in the early January movement, certainly that there’s been uptake of zanubrutinib but the uptake we believe, based on our charts is predominantly in later lines which doesn’t come out of some of the acute via claims data that you see.

And we’re well prepared to take on competition in the year ahead but we think we are well positioned to be able to do it.

Pascal Soriot: Thank you, Dave. Eric Le Berrigaud. Over to you, Eric. Eric, you might be on mute. We can’t hear you.

Eric Le Berrigaud: Do you hear me now?

Pascal Soriot: Yes.

Eric Le Berrigaud: Okay. Sorry. So a couple of questions. First, a couple on the financials. First on CapEx. The first growing companies those days are suggesting a significant increase in CapEx Novo now there’s a doubling CapEx this year versus last. Could you quantify maybe the level of increase in CapEx in ’23 versus ’22 please? And a pretty similar question about OOI. You’re expecting an increase in other operating income this year versus last. We’re coming from very high level of $1.5 billion not so long ago. So how should we think about any figure between the $450 million last year and the $1.5 billion 2 years ago. So that’s for the financial part. And then maybe a question for and Marc. Thanks, Marc, for clarifying about the C5 franchise.

Can I try to be even more specific about the incoming competition from iptacopan in PNH since you show a slide on PNH. How do you see this new drug competing with Ultomiris and ultimately, the kind of market share split between base drug and the existing C5 franchise of AstraZeneca, please?

Pascal Soriot: Thanks, Eric. So Aradhana, the first 2 are for you, I guess.

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