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

David Fredrickson: With respect, Emmanuel, to Enhertu, in the U.S., we have gotten to approximately 50% new patient share in second line HER2-positive so in the DBO 3 population. And over 40% in hormone receptor positive HER2 low post chemo new share. So that’s the population. Just 2 things. On your second question for how high could it go. There’s still some console use that exists in the marketplace today. There’s a decent amount of fragmentation with various utilization of various HER2-directive agents and some chemotherapies. But I expect us to continue to grow in DB03. And if you look at in Europe, Kadcyla had at its peak as much as 70% share. So I think that it’s important to note that as you get into marketplaces where Kadcyla actually had a greater percentage of the standard of care.

I think that, that certainly represents the next goal that we have for those teams in terms of penetration and then we’d like to go beyond that. In the DB-04 population, I again think that we’ve got with the overall survival results and the fact that systemic chemotherapy is just, frankly, not delivering adequate efficacy and safety for patients as a second chemo option with advanced breast cancer that we’ve got an opportunity to continue to grow. I do think you saw that the Q3 growth was aided by symbolus but I think we continue to grow from where we are here. And looking forward, the launches across the globe, not just the U.S. throughout 2023.

Pascal Soriot: Thank you and we probably will close for today here. Thank you so much for, again, your interest and your great questions. Let me just close by saying again that we’re very much on track with our ambition to deliver a top line revenue that is the best of the — one of the — that is an industry-leading growth rate with a double — low double-digit growth rate to 2025 and continued growth past ’25 to 2030. We’re working very hard on our pipeline. And importantly, also, we are working very hard on reprioritizing constantly and improving our productivity — so we deliver also on our ambition to improve our operating margin over the next few years. Certainly, we are very much on track with that, too. In the long run, we’ll stay true to it.

But of course, we’ll have to consider the evolution of the pipeline and the need for reinvestment as we see fit. But for now, we are focused on 2025 as a base camp 1 and very much on track with that. Thank you, again, for all your interest and have a good day.