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

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Susan Galbraith: Yes. Thanks for the question. So the confidence in Dato-DXd is monotherapy in the second line is built from the monotherapy experience that we’ve got previously and the confidence to move into the van study is built from the — some of the data that you’ve seen with the TropiNLUNg-02 data set with the combination with different I/O immune checkpoint inhibitors — so I think what that shows is there’s also activity in PD-L1 low patient population with that combination as well. And then, of course, we’ve been working and developing chip to biomarker based on the initial data. So I think there’s different elements that are involved in the Avanza study. But I would just say that we have confidence built across multiple data sets for the Dato-DXd program.

Aradhana Sarin: Yes. And as it relates to COVID-related contribution for 2023. Again, we don’t break down profitability by product but I can just say that the COVID contribution is not material to profitability in 2023. We did mention that we are advancing the next-generation antibody. Obviously, we have some expectations before year-end. But we’re also obviously spending money on clinical trials and actively recruiting that. So the net contribution is not expected to be material.

Pascal Soriot: Thanks, Aradhana. So Tim, I’m sure you will triangulate those numbers. But if you do that and you combine what Anna told you which is very minimal profitability for COVID in ’23. And you look at what you could estimate for ’22, I’m sure you will realize the underlying profit growth for the rest of the business is very substantial. So definitely, we are on track with growing sales and profitability from the underlying business. Luisa Hector at Berenberg, over to you.

Luisa Hector: On Alexion really. So one for Marc, just in terms of confidence in the complement area given some of the recent competitors launching and having data — and perhaps you could also highlight the advantages of your own subcutaneous C51720 which I think is just starting Phase I myasthenia gravis. So when might we see some data for that? And what are the advantages that you could offer? And on the cost side here, there’s a lot of commentary around some of your savings after the deal, it looks like synergies are higher but this seems to be on a gross level. So before any reinvestment, should we expect any of that increase in cost savings to fall to the bottom line? Or do you plan to reinvest?

Marc Dunoyer: Thank you. Thank you for the 3 question. I will take them in order. The first one is our confidence in C5. The — it is absolutely true that there are growing competition in C5 and we had always modeled that. We always said the — our franchise — our C5 franchise would be durable, sustainable but it would not be static. In other words, we are going to lose to some competition in our earlier indications but we are going to go into new indication and we are continuing to pioneer development on Ultomiris. But as you mentioned, 1720 and other products in the complement cascade to gain pioneering a new indication. Today, I described one of them, the cardiac surgery-associated AKI. But there are several other new indications that we would pioneer for the C5 inhibitors.

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