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

Page 3 of 18

We see it as a very exciting first-in-class mechanism with broad application across our portfolio. I’m also very excited about some of the progress we’ve seen with our earlier stage assets, such as our long-acting relaxin in heart failure with pulmonary hypertension, PNPLA3 and censorioucleotide for genetically driven NASH and our small molecule oral PCSK9 inhibitor for dyslipidemia and I look forward to sharing updates on these molecules with clinical data in the coming quarters. Please turn to next slide. And I want to showcase in more detail our Farxiga combinations and how they’re differentiated from each other. First, balcinrenone is a selective mineral cortico receptor modulator which believe could have reduced risk of hyperkalemia versus conventional MR antagonists.

We have an ongoing Phase II study looking at CKD patients with heart failure, a population which has limited treatment options. Second is zibotentan, our endothelin A receptor antagonist which has been shown to improve renal blood flow and reduce albuminuria and vascular stiffness. The selective profile of zibotentan combination with placebo is expected to reduce significant side effects of fluid retention, a hallmark of traditional endothelin receptor antagonist. We have an ongoing Phase II trial in CKD patients with macro albinuria. And this combination is also being investigated in liver cirrhosis than recently dosed in Phase II. And finally, Baxdostat, currently being investigated as a monotherapy for treatment-resistant hypertension. We believe when combined with Farxiga would significantly benefit patients with hypertension and several other cardiorenal diseases.

Faust has shown to be effective at reducing systolic blood pressure without off-target inhibition of cortisol synthesis. And this treatment paradigm would offer a much-needed option for patients with CKD and hypertension and we’re planning to initiate Phase III trials for this molecule through the course of this year. Please turn to the next slide. Here, I’m highlighting some key late-stage assets that have progressed or planned to progress during the year. Our IL-33 monoclonian antibody, tozarakumab entered Phase III trials for adults hospitalized with viral lung infections with acute respiratory failure. Emerging IL-33 science in viral lung infections provided confidence to advance to Phase III. During the quarter, we also dosed our Phase I/III Super NOVA trial which investigates the safety and efficacy of our next-generation, long-acting antibody, AZD3152 in COVID-19 preexposure prophylaxis settings in immunocompenized patients.

AZD3152 neutralizes all known variants from Alpha, all the way to XB1 — and the immunobridging trial design has been agreed in principle with both FDA and the EMA shortening the time between discovery and approval. We will aim to make the new lab available in the second half of 2023, subject to trial readouts and regulatory reviews. And finally, we’re expanding Safenelo into new autoimmune diseases, playing in 2 new Phase III starts this year in scleroderma and polymyositis. Please move to the next slide. Now, I hand over to Mark to cover rare diseases.

Marc Dunoyer: Thank you, Mene. And please move to Slide 28. In 2022, Rare Disease total revenues grew 10% on a pro forma basis, contributing $7.1 billion. Throughout the year, we saw continued durable growth of our C5 franchise which grew 7%. Ultomiris grew 42% in the year and 62% in the quarter, reflecting an accelerating and successful conversion from Soliris across PNH atypical HUS and MG. Consequently, Soliris declined 5% in the year which was partially offset by the growth in where Soliris remain the market leader. Beyond the C5 franchise, Strensiq delivered 18% in the year and 27% in the quarter due to increased awareness and diagnosis as well as geographical expansion. Koselugo contributed significant growth in the quarter and is now available in 20 markets.

Page 3 of 18