The information on this page is updated via a feed from the London Stock Exchange's Regulatory News Service.
FORM 6-K
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
Report of Foreign
Issuer
Pursuant to Rule
13a-16 or 15d-16 of
the Securities
Exchange Act of 1934
For July 2009 –
3rd
August 2009
Commission File
Number: 001-11960
AstraZeneca
PLC
15 Stanhope Gate,
London W1K 1LN, England
Indicate by check
mark whether the registrant files or will file annual reports under cover of
Form 20-F or Form 40-F.
Form 20-F X
Form
40-F __
Indicate by check
mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1):
Indicate by check
mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): ______
Indicate by check
mark whether the registrant by furnishing the information contained in this Form
is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes __ No
X
If
“Yes” is marked, indicate below the file number assigned to the Registrant in
connection with Rule 12g3-2(b): 82-_____________
AstraZeneca
PLC
INDEX TO
EXHIBITS
1.
Press release entitled,
“Transaction by Persons Discharging ManagerialResponsibilities”, dated 1
July 2009.
2.
Press release entitled,
“IRESSA (GEFITINIB) receives marketingauthorisation for the treatment of
non-small cell lung cancer in Europe”,dated 1 July 2009.
3.
Press release
entitled, “AstraZeneca terminates License Agreement with MAP
Pharmaceuticals regarding Unit Dose Budesonide “dated 9 July
2009.
4.
Press release
entitled, “AstraZeneca second quarter and half year results 2009”, dated
29 July 2009.
5.
Press release
entitled, “AstraZeneca second quarter and half year results 2009 (front
half)”, dated 30 July 2009.
6.
Press release
entitled, “AstraZeneca second quarter and half year results 2009 -
Responsibility Statement of the Directors in Respect of the Half-Yearly
Financial Report” (back half), dated 30 July 2009.
7.
Press release entitled,
“Transaction by Person Discharging Managerial Responsibilities Disclosure
Rules DTR.3.1.4R”, dated 31 July 2009.
8.
Press release
entitled, “Transparency Directive Voting Rights and Capital”, dated 31
July 2009.
9.
Press release
entitled, “FDA approves ONGLYZA for the treatment of type 2 diabetes in
the US”, dated 3 August 2009.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
AstraZeneca
PLC
Date: 10
August 2009
By:
/s/ Justin
Hoskins
Name:
Justin
Hoskins
Title:
Deputy
Company Secretary
Item 1
Transaction
by Persons Discharging Managerial Responsibilities
Disclosure
Rule DTR 3.1.4
We hereby inform
you that on 30 June 2009, the interest of Anders Ekblom, a person discharging
managerial responsibilities, in AstraZeneca PLC Ordinary Share of $0.25 each has
changed as detailed below.
The change in
interest relates to an award made in March 2008 under the AstraZeneca Restricted
Share Plan, whereby, in accordance with the terms of the award, Mr Ekblom has
now become beneficially entitled to 8,306 of the 16,612 shares originally
awarded. After certain mandatory tax deductions, Mr Ekblom has
received 3,731 shares into a personal brokerage account.
The market price of
AstraZeneca Ordinary Shares on 30 June 2009 was £27.12.
A
C N Kemp
Company
Secretary
1
July 2009
Item
2
IRESSA (GEFITINIB) RECEIVES MARKETING
AUTHORISATION FOR THE TREATMENT OF NON-SMALL CELL LUNG CANCER IN EUROPE
AstraZeneca
announced today that the European Commission has granted marketing authorisation
for the oral anti-cancer drug, IRESSA for
the treatment of adults with
locally advanced or metastatic non-small cell lung cancer (NSCLC) with
activating mutations of EGFR-TK (epidermal growth factor receptor-tyrosine
kinase) across all lines of therapy. The authorisation is based on a submission
package including two pivotal Phase III studies comparing IRESSA with
chemotherapy, IPASS and INTEREST.
IRESSA acts by inhibiting the tyrosine
kinase enzyme in the EGFR, thus blocking the transmission of signals involved in
the growth and spread of tumours. A mutation in the EGFR is a characteristic
occurring in 10-15% of lung cancers in non-Asians, and studies have shown that
these types of tumours are particularly sensitive to IRESSA.
Anders Ekblom, Executive Vice President
for Development at AstraZeneca, said: "IRESSA is the first truly targeted
treatment for lung cancer, and the EU marketing authorisation today represents
an important step forward in the treatment of this devastating disease. For the
first time, patients with EGFR mutation positive tumours will have a more
effective and better tolerated alternative to chemotherapy as a first-line
treatment.”
AstraZeneca will work closely with
clinicians and pathology groups on a country-by-country basis to facilitate
appropriate access to EGFR mutation diagnostic testing.
AstraZeneca has agreed to conduct a
Follow-up Measure Study to generate further data in a Caucasian NSCLC patient
population and is currently in discussion with the EMEA to finalise the study
design and endpoints.
About
IRESSA
In 2005,
AstraZeneca withdrew its EU marketing authorisation application for IRESSA
following data from the Phase III international ISEL study in pre-treated
patients not eligible for further chemotherapy. ISEL did not meet its primary
objective of a statistically significant improvement in OS for IRESSA compared
to placebo, but did confirm a number of important clinical benefits for IRESSA
including tumour shrinkage and a significant improvement in time to treatment
failure. The refractory (patients whose tumours had grown during or soon after
receiving prior chemotherapy) nature of the ISEL population is the most likely
explanation for the magnitude of the survival improvement with IRESSA compared
to placebo not reaching statistical significance.
Following delivery
of the INTEREST data, AstraZeneca submitted a new regulatory package to the EMEA
in May 2008; the IPASS data were added to the submission package when they
became available in Q3 2008.
There is a rolling
programme of approvals and licence updates for IRESSA around the world in a
broad second-line population based on data from the INTEREST study.
IRESSA is already
an established therapy for pre-treated NSCLC in the Asia-Pacific region, where
AstraZeneca is in consultation with regulatory authorities to discuss the
potential use of IRESSA in first-line therapy.
About
the INTEREST and IPASS studies
The INTEREST
(IRESSA Non-small-cell lung cancer Trial Evaluating REsponse and Survival
against Taxotere) study was a randomised, open-label, parallel-group, Phase III
trial evaluating survival with IRESSA versus docetaxel in 1,466 patients with
locally advanced or metastatic recurrent NSCLC who had previously received
platinum-based chemotherapy. The primary endpoint of INTEREST was OS, with the
objective of demonstrating that IRESSA was non-inferior to docetaxel
chemotherapy.
IPASS (IRESSA
Pan-ASia Study) was an open label, randomised, parallel-group study that
assessed the efficacy, safety and tolerability of IRESSA versus
carboplatin/paclitaxel as first-line treatment in a clinically selected
population of patients from Asia. The primary endpoint of
IPASS was PFS (the length of time a patient lives without their tumour
progressing), with the objective of demonstrating that IRESSA was non-inferior
to carboplatin/paclitaxel doublet chemotherapy.
The study enrolled
1,217 patients in Asia with advanced NSCLC who had not received prior
chemotherapy for advanced disease, whose tumours were of adenocarcinoma
histology and who had either never smoked, or were former light smokers (ceased
smoking at least 15 years ago and <= 10 pack-years exposure).
About
AstraZeneca
AstraZeneca is a
major international healthcare business engaged in the research, development,
manufacturing and marketing of meaningful prescription medicines and supplier
for healthcare services. AstraZeneca is one of the world's leading
pharmaceutical companies with healthcare sales of US$ 31.6 billion and is a
leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology
and infectious disease medicines. For more information about
AstraZeneca, please visit: www.astrazeneca.com
CONTACTS:
Media
Enquiries UK:
Chris
Sampson
+44 20 7304
5130 (24 hours)
Neil
McCrae
+44 207 304
5045 (24 hours)
Sarah
Lindgreen
+44 20 7304
5033 (24 hours)
Investor
Enquiries UK:
Jonathan
Hunt
+44 207 304
5087
mob: +44 7775
704032
Karl
Hard
+44 207 304
5322
mob: +44 7789
654364
Investor
Enquiries US:
Ed
Seage
+1 302 886
4065
mob: +1 302
373 1361
Jorgen
Winroth
+1 212 579
0506
mob: +1 917
612 4043
1
July 2009
- ENDS
-
Item 3
ASTRAZENECA
TERMINATES LICENSE AGREEMENT WITH MAP PHARMACEUTICALS REGARDING UNIT DOSE
BUDESONIDE
AstraZeneca
announced today that it has terminated the license agreement with MAP
Pharmaceuticals, Inc., regarding Unit Dose Budesonide (UDB).
UDB, an
investigational treatment for paediatric asthma, was the subject of an initial
Phase III clinical trial conducted by MAP Pharmaceuticals. On 23
February 2009, MAP announced that the trial failed to meet its primary
endpoints.
In
light of the clinical trial results, AstraZeneca exercised its right to
terminate the license agreement and expects to record an impairment charge of
$44m in the second quarter results.
About
AstraZeneca
AstraZeneca is a
major international healthcare business engaged in the research, development,
manufacturing and marketing of meaningful prescription medicines and supplier
for healthcare services. AstraZeneca is one of the world's leading
pharmaceutical companies with healthcare sales of US$ 31.6 billion and is a
leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology
and infectious disease medicines. For more information about AstraZeneca,
please visit: www.astrazeneca.com
CONTACTS:
Media
Enquiries UK:
Chris
Sampson
+44 20 7304
5130 (24 hours)
Neil
McCrae
+44 207 304
5045 (24 hours)
Sarah
Lindgreen
+44 20 7304
5033 (24 hours)
Media
Enquiries US:
David
Albaugh
+1 302 886
7098
Emily
Denney
+1 302 885
3451
Investor
Enquiries UK:
Jonathan
Hunt
+44 207 304
5087
mob: +44 7775
704032
Karl
Hard
+44 207 304
5322
mob: +44 7789
654364
James
Mead
+44 20 7304
5084
mob: +44 7825
530018
Investor
Enquiries US:
Ed
Seage
+1 302 886
4065
mob: +1 302
373 1361
Jorgen
Winroth
+1 212 579
0506
mob: +1 917
612 4043
09
July 2009
- ENDS
-
Item 4
AstraZeneca second quarter
and half year results 2009
Tomorrow, Thursday,
30 July 2009 AstraZeneca will be releasing its second quarter and half year
results for 2009 at 11:00BST.
An analysts
presentation of the second quarter and half year results will take place at
13:00bst and will be accessible by a choice of two routes:
1) Audio webcast
(available at http://www.astrazeneca.com/). You
will be able to email questions to the presenters during the Q&A
session.
2) Teleconference
with Q&A. Dial in numbers:
UK: 0800 077
8491
Sweden: 0200 110
487
International: +44
(0)844 800 0810
US: 1 866 804
8688
Emergency back-up:
+44 (0)1296 311 600
Passcode:
AstraZeneca Half Year analyst call.
Printable pdf
versions of slides will be available to download on the AstraZeneca Investor
Relations website (http://www.astrazeneca.com/investors/ ) 15
minutes before the analysts presentation begins.
Details of the
teleconference and webcast replay facilities are available on the Investor
Relations part of the AstraZeneca website at http://www.astrazeneca.com/.
Item 5
AstraZeneca
PLC
SECOND
QUARTER AND HALF YEAR RESULTS 2009
London,
30 July 2009
Second
quarter sales increased by 9 percent at constant exchange rates (CER) to $7,958
million.
-Crestor sales increased by 33
percent at CER. Quarterly sales exceed $1 billion for the first
time.
-US sales of Toprol-XL, benefiting from
withdrawal of generic products, accounted for 3 percent of global sales growth
at CER.
-Emerging Markets
sales increased by 8 percent at CER; on track for double-digit growth for the
full year.
Core
operating profit in the second quarter increased by 37 percent at CER to $3,606
million on sales growth, higher other income and operational
efficiencies.
Core
EPS in the second quarter increased by 37 percent at CER to $1.64.
Reported
EPS in the second quarter increased by 10 percent at CER to $1.18.
-Provisions
totalling $430 million have been taken in the second quarter with respect to
various federal and state investigations and civil litigation matters relating
to drug marketing and pricing practices (see Note 4).
Strong
cash flows have reduced net debt by $3 billion since 31 December
2008.
The
Board has recommended a first interim dividend of $0.59, an increase of 7
percent.
Continued
progress on the pipeline, including three regulatory submissions since the first
quarter.
-Applications for
regulatory approval submitted in the US for Certriad (lipid
abnormalities) and Vimovo (pain relief for
arthritis); Zactima
(lung cancer) submitted in the US and the European Union.
-Iressa approved in Europe for
lung cancer treatment.
-New diabetes
treatment ONGLYZATM
recommended for approval by European CHMP.
Core
EPS target for the full year increased to range of $5.70 to $6.00.
Financial
Summary
Group
2nd
Quarter
2009
$m
2nd
Quarter
2008
$m
Actual
%
CER
%
Half
Year
2009
$m
Half
Year
2008
$m
Actual
%
CER
%
Sales
7,958
7,956
-
+9
15,659
15,633
-
+8
Reported
Operating
Profit
2,851
2,473
+15
+19
6,014
4,730
+27
+28
Profit
before Tax
2,608
2,279
+14
+18
5,611
4,422
+27
+27
Earnings
per Share
$1.18
$1.11
+6
+10
$2.66
$2.14
+24
+24
Core*
Operating
Profit
3,606
2,737
+32
+37
6,968
5,502
+27
+28
Profit
before Tax
3,363
2,543
+32
+38
6,565
5,194
+26
+28
Earnings
per Share
$1.64
$1.25
+31
+37
$3.22
$2.53
+27
+28
*
Core
financial measures are supplemental non-GAAP measures which management
believe enhances understanding of the Company’s performance; it is upon
these measures that financial guidance for 2009 is based. See
page 10 for a definition of Core financial measures and pages 10 and 11
for a reconciliation of Core to Reported financial
measures.
David Brennan, Chief
Executive Officer, said: “Our business performance, in the
context of tough global economic conditions, has been better than we
anticipated. Good operating execution as well as the Toprol-XL benefit has led to
a strong first half performance, which is reflected in our increased Core EPS
target for the full year. Continued progress on the pipeline is
evidenced by significant regulatory submissions and approvals since our first
quarter report.”
Interim
Management Report
Business
Highlights All narrative in this section refers
to growth rates at constant exchange rates (CER) unless otherwise
indicated
Second
Quarter
Sales in the second
quarter increased by 9 percent at CER, but were flat on an actual basis as a
result of the negative impact of exchange rate movements. Sales
benefited from strong growth of the Toprol-XL franchise in the US
as a result of the market withdrawal by two generic competitors; adjusting for
this, global sales increased by 6 percent. US sales were up 13
percent (6 percent excluding Toprol-XL). Group
sales in the Rest of World were also up 6 percent. Sales in
Established Markets were up 5 percent. Emerging Markets sales growth
was 8 percent, lower than recent quarters but broadly in line with the Company’s
expectations. Double-digit sales growth in Emerging Markets is
anticipated for the full year.
Core operating
profit in the second quarter was up 37 percent to $3,606
million. Approximately 60 percent of the Core operating profit
increase was driven by higher sales; the balance from operational efficiencies
and higher other income related to proceeds from the disposal of certain Nordic
OTC products. Reported operating profit increased by 19 percent to $2,851
million; this growth rate was 18 percentage points lower than the growth in Core
operating profit, reflecting provisions totalling $430 million with respect to
various federal and state investigations and civil litigation matters relating
to drug marketing and pricing practices taken in the second quarter
2009.
Core earnings per
share in the second quarter were $1.64 compared with $1.25 in the second quarter
2008, a 37 percent increase at CER and in line with the growth in Core operating
profit in the quarter. Reported earnings per share in the second quarter were up
10 percent to $1.18, after charging the legal provisions as well as higher
restructuring and synergy costs.
First
Half
Sales in the first
half increased by 8 percent at CER, but were flat on an actual basis as a result
of the negative impact of exchange rate movements. Sales in the US
were up 10 percent (5 percent excluding the impact of Toprol-XL). Sales
in the Rest of World were up 6 percent. Sales in Established Markets
were up 4 percent. Sales in Emerging Markets increased by 11
percent.
Core operating
profit increased by 28 percent to $6,968 million as a result of sales growth,
operating efficiencies and higher other income compared with the first half of
2008. Reported operating profit was $6,014 million, an increase of 28
percent, the same as the growth in Core operating profit, as the negative impact
of the legal provisions in the second quarter 2009 was somewhat offset by the
Ethyol impairment that
was charged in the first quarter 2008.
Core earnings per
share for the first half were $3.22, an increase of 28 percent, in line with the
growth in Core operating profit. Reported EPS increased by 24 percent
to $2.66, reflecting the effects of the legal provisions and the Ethyol impairment noted above
as well as higher restructuring and synergy costs.
Research and Development
Update
A comprehensive
update of the AstraZeneca R&D pipeline is presented in conjunction with this
Half Year 2009 results announcement, and is available on the Company’s website,
www.astrazeneca.com,
under information for investors.
The AstraZeneca
pipeline now includes 142 projects, including 98 projects in the clinical phase
of development. There are 10 NME projects currently in late stage
development, either in Phase III or under regulatory review. Across
the portfolio, since the last update on 29 January, 24 projects have
successfully progressed to their next phase (including 11 molecules entering
first human testing); 14 compounds have been added from Discovery research; 14
compounds have been withdrawn.
Continued progress
has been made on the pipeline since the first quarter update, including three
new regulatory submissions:
Certriad
On 4 June 2009,
AstraZeneca and Abbott announced that the companies have submitted a New Drug
Application (NDA) to the US Food and Drug Administration (FDA) for an
investigational compound for the treatment of mixed dyslipidaemia, a combination
of two or more lipid abnormalities including high LDL-cholesterol (the “bad”
cholesterol), high triglycerides and low HDL-cholesterol (the “good”
cholesterol). The NDA is for a fixed-dose combination product containing the
active ingredients of
Crestor (rosuvastatin
calcium) and TRILIPIX™ (fenofibric acid). Pending approval of the
NDA, the treatment will be marketed as Certriad.
Vimovo
On 30 June 2009,
AstraZeneca announced that its development partner, Pozen, Inc., has submitted
an NDA to the US FDA for
Vimovo (PN400), a product under investigation for the treatment of the
signs and symptoms of osteoarthritis (OA), rheumatoid arthritis (RA) and
ankylosing spondylitis (AS) in patients who are at risk of developing
NSAID-associated gastric ulcers. PN400 is a fixed-dose combination of
enteric-coated naproxen and immediate release esomeprazole. The proposed trade
name is Vimovo, pending
regulatory approval.
Zactima
In June 2009,
AstraZeneca submitted regulatory applications in the US and European Union for
Zactima, seeking
approval for use of a dose of 100mg daily in the second-line treatment of
advanced non-small cell lung cancer (NSCLC) in combination with
chemotherapy.
Results for the
ZEPHYR study, a Phase III trial of 300mg of Zactima used as monotherapy
in patients who have failed treatment with an EGFR inhibitor in advanced NSCLC,
and the ZETA study (300mg Zactima monotherapy in
advanced medullary thyroid cancer) will be presented in the first half of
2010.
Other significant
pipeline developments include:
ONGLYZATM
AstraZeneca and
Bristol-Myers Squibb Company have announced that their marketing authorisation
application for ONGLYZATM
(saxagliptin) received a positive opinion from the Committee for Medicinal
Products for Human Use (CHMP) for the treatment of type 2 diabetes in adults as
add-on therapy with metformin, a thiazolidinedione or a
sulphonylurea.
The CHMP’s positive
opinion on ONGLYZATM will
now be reviewed by the European Commission which has the authority to approve
medicines for the European Union. AstraZeneca and Bristol-Myers Squibb expect
the European Commission to issue its decision on a Marketing Authorisation for
this type 2 diabetes investigational drug in the European Union in the coming
months.
The Prescription
Drug User Fee Act (PDUFA) date for the FDA review of the ONGLYZA™ NDA is 30 July
2009.
Iressa
On 1 July 2009,
AstraZeneca announced that the European Commission has granted marketing
authorisation for the oral anti-cancer drug Iressa for the treatment of
adults with locally advanced or metastatic NSCLC with activating mutations of
EGFR-TK (epidermal growth factor receptor-tyrosine kinase) across all lines of
therapy. The authorisation is based on a submission package including two
pivotal Phase III studies comparing Iressa with chemotherapy,
IPASS and INTEREST.
Brilinta
On 11 May 2009,
AstraZeneca announced top line results from the Phase III trial, PLATO (A Study
of Platelet Inhibition
and Patient Outcomes),
which demonstrate that Brilinta (ticagrelor), the
investigational oral antiplatelet treatment for acute coronary syndromes (ACS),
has achieved a statistically significant primary efficacy endpoint versus
clopidogrel, in the prevention of cardiovascular (CV) events in patients with
ACS. The primary efficacy measure was time to first occurrence of any event from
the composite of myocardial infarction, stroke, and CV death.
In PLATO, the
overall safety profile for Brilinta was in line with the
safety data observed in the Phase II studies. Given the size of the PLATO trial,
further analysis of the entire database, secondary variables, and subgroups is
ongoing. The results of PLATO will be presented at the European Society of
Cardiology annual meeting on 30 August 2009.
The submission of
Brilinta to regulatory
authorities remains on schedule for the fourth quarter of 2009.
Crestor
Regulatory
applications to amend the
Crestor label to reflect the significant reductions in cardiovascular
events demonstrated in the landmark JUPITER clinical trial are now under review
by regulatory authorities in the US and in Europe, as the April 2009 submission
in the US was followed, as planned, by the submission in Europe during the
second quarter 2009.
In July 2009, the
US FDA granted an additional six-month period of market exclusivity to Crestor based on studies the
Company conducted in paediatric patients. The allowed six-month
paediatric exclusivity period, which takes effect upon expiration of the patent,
will extend the exclusivity of Crestor to 8 July
2016.
Symbicort
Based on the
Complete Response Letter (CRL) AstraZeneca received in April 2009 from
the FDA regarding the Symbicort sNDA for use in
paediatric asthma patients 6-11 years of age, additional clinical work will
be needed to support the approval of Symbicort in this patient
population.
This additional
clinical work will result in a significant delay of an FDA approval.
AstraZeneca is meeting with the FDA to discuss the necessary
programme of additional work, and will be able to provide more details after
that discussion.
Seroquel
XR
In June 2009, the
Company submitted a response to the CRL received from the US FDA in December
2008 regarding the sNDA for Seroquel XR for the treatment
of Major Depressive Disorder (MDD) in adult patients. This submission
should trigger a six-month review period by the FDA.
On 29 May 2009,
AstraZeneca announced that the Company has referred its application for Seroquel XR for the treatment
of recurrent depressive episodes in adult patients with Major Depressive
Disorder (MDD) to the CHMP. This follows notification to AstraZeneca
by the Netherlands Health Authority (MEB), acting as the Reference Member State
for the Mutual Recognition Process (MRP), that the Seroquel XR application for
MDD has been refused.
To date, Seroquel XR has been approved
for use in MDD in Canada and Australia.
Novel
Influenza A (H1N1) Vaccine
MedImmune’s
technology and capability is evidenced by the solid progress being made to
deliver a live attenuated intranasal vaccine (LAIV) against the Novel Influenza
A (H1N1) influenza virus. To date, MedImmune has successfully
produced a master virus seed candidate, using a proprietary and unique process
known as reverse genetics, which appears to be growing well.
On 24 July, during
a presentation to the FDA’s Vaccine and Related Biological Products Advisory
Committee (VRBPAC), MedImmune reported that based on vaccine yields of the first
manufactured lots, MedImmune estimates it may be able to produce a total of 200
million doses of bulk vaccine, of which approximately 40 million doses can be
filled and finished into nasal sprayers by March 2010. The number of
finished, filled doses is currently limited by the availability of sprayers,
however, MedImmune is taking steps to increase the supply of sprayers, as well
as working with the US government to define a path for an alternative delivery
device.
A robust clinical
trial programme will begin shortly for the Novel Influenza A (H1N1) vaccine,
with patient enrollment expected to begin in mid-August. If public
health authorities determine the need for emergency use of H1N1 vaccine prior to
completion of these clinical studies, MedImmune’s vaccine for the Novel
Influenza A (H1N1) virus could be available as early as September.
AZD0837
The programme of
work aimed at resolving the previously identified issue concerning the stability
of tablets of the investigational oral anticoagulant AZD0837 intended for use in
the Phase III clinical trial programme is largely complete, so the project is
now deemed to be “Phase III ready”. We have not, as yet, finalised
the scope of the Phase III development programme, but the soonest we could
commence Phase III work would be the second half of 2009. The Company
is exploring a number of options, including the consideration of working with an
external partner.
Enhancing
Productivity
Good progress
continues on the previously announced business reshaping
programmes. In the second quarter, $190 million in restructuring
costs were charged, bringing the total charges in the first half to $262
million.
All programmes
remain on track to deliver the expected benefits of $2.1 billion per annum by
2010, with a further $0.4 billion by 2013.
Future
Prospects
Business
performance in the context of tough global economic conditions has been better
than we anticipated. Good operating execution and some one-off
benefits, such as the favourable Toprol-XL impact and delayed
generic entry for Casodex in the US, has led to
a strong first half performance. All of these factors, together with
the outlook for the remainder of year (including some impact from the Novel
Influenza A (H1N1) vaccine, up to the 40 million dose fill and finish capacity),
are reflected in our increased financial guidance for the full
year.
For the full year,
the Company now estimates sales growth will be around mid-single digits at CER,
with roughly half the benefit from one-off items. Core EPS is now
anticipated to be in the range of $5.70 to $6.00. This increased Core EPS
guidance is due solely to operational performance; there is no impact from
currency.
This target takes
no account of the likelihood that average exchange rates for the remainder of
2009 may differ materially from the January 2009 average rates upon which our
earnings guidance is based. An estimate of the sales and earnings
sensitivity to movements of our major currencies versus the US dollar was
provided in conjunction with the Full Year 2008 results announcement, and can be
found on the AstraZeneca web site.
It is not
anticipated that the nature of the principal risks and uncertainties that affect
the business, and which are set out on pages 76-82 of the Annual Report and Form
20-F Information 2008, will change in respect of the second six months of the
financial year.
In
summary, the principal risks and uncertainties listed in the Annual Report and
20-F Information 2008 are:
Industry/Economic
Risks
Expiration of
patents or marketing exclusivity, patent litigation and early loss of patents,
marketing exclusivity or trademarks, expiration or earlier loss of patents
covering competing products, failure to obtain patent protection, impact of
fluctuations in exchange rates, debt-funding arrangements, bad debts, adverse
impact of a sustained economic downturn, owning and operating a biologics and
vaccines business, competition, price controls and price reductions, taxation,
substantial product liability claims, performance of new products,
environmental/occupational/health and safety liabilities, developing our
business in Emerging Markets and product counterfeiting.
Legal/Compliance/Regulatory
Risks
Adverse outcome of
litigation and/or government investigations and insufficient insurance coverage,
difficulties of obtaining and maintaining regulatory approvals for new products
and failure to observe continuing regulatory oversight.
Business
Execution Risks
Challenges to
achieving commercial success of new products, acquisitions and strategic
alliances formed as part of our externalisation strategy may be unsuccessful,
reliance on third parties for supplies of materials and services, failure to
manage a crisis, delay to new product launches, failure of information
technology and outsourcing and productivity initiatives.
Sales
All
narrative in this section refers to growth rates at constant exchange rates
(CER) unless otherwise indicated
Gastrointestinal
Second
Quarter
CER
%
Half
Year
CER
%
2009
$m
2008
$m
2009
$m
2008
$m
Nexium
1,246
1,323
+1
2,438
2,561
+2
Losec/Prilosec
245
290
-10
456
542
-12
Total
1,514
1,634
-
2,941
3,144
-
·
In the US,
Nexium sales in
the second quarter were $724 million, down 4 percent compared with the
second quarter last year. Dispensed retail tablet volume
increased by 0.5 percent. Nexium was the only
major PPI brand to grow volume in the quarter. Average realised
selling prices for
Nexium were around 3 percent lower.
·
Nexium sales in the US
in the first half were down 4 percent to $1,429 million.
·
Nexium sales in other
markets in the second quarter were up 8 percent to $522
million. Sales in Western Europe were up 6
percent. There was double-digit sales growth in Canada and in
Australia. Sales in Emerging Markets were up 8 percent, including 31
percent growth in China.
·
Nexium sales in other
markets were up 10 percent in the first half to $1,009
million.
·
Prilosec sales in the
US were down 75 percent in the second quarter and were down 69 percent in
the first half, as a result of the entry of generic competition to the
40mg dosage form in the second half of 2008.
·
Sales of
Losec in the Rest
of World were up 5 percent in the second quarter, on double-digit growth
in Japan and China. Losec sales in the Rest
of World were up 1 percent in the first half.
Cardiovascular
Second
Quarter
CER
%
Half
Year
CER
%
2009
$m
2008
$m
2009
$m
2008
$m
Crestor
1,129
916
+33
2,098
1,688
+34
Seloken /Toprol-XL
417
206
+112
705
396
+87
Atacand
356
388
+6
679
734
+6
Plendil
60
70
-7
121
136
-6
Zestril
47
65
-17
94
124
-15
Total
2,148
1,807
+30
3,958
3,378
+27
·
In the US,
Crestor sales in
the second quarter were up 32 percent to $547 million. Crestor total
prescriptions increased by 25 percent, nearly 4 times the statin market
growth and keeping pace with the 26 percent growth for generic
simvastatin. Crestor share of total
prescriptions continued to increase, reaching 10.8 percent in June
2009. Crestor dynamic share
(new and switch patients) is now more than 15 percent, second only to
simvastatin.
·
US sales for
Crestor for the
first half increased by 33 percent to $1,025 million.
·
Crestor sales in the
Rest of World were up 35 percent to $582 million in the second
quarter. Crestor volume growth
in recent months is 3 to 4 times higher than the statin market growth in
both Established and Emerging Markets. There was strong growth
in Western Europe (up 23 percent), Canada (up 32 percent), Japan (up 68
percent) and Australia (up 76 percent). Sales in Emerging
Markets were up 33 percent.
·
Crestor sales in the
Rest of World were up 34 percent to $1,073 million in the first
half.
·
US sales of
the Toprol-XL
product range, which includes sales of the authorised generic, increased
by 320 percent in the second quarter to $298 million. Total
prescriptions for the franchise more than doubled. Pipeline
filling of the authorised generic product following a return to full
supply and price changes accounted for the balance of the sales
growth. The two generic competitor products remain off the US
market, and it remains difficult to ascertain when or if these products
will return to the market or when potential new entrants may be
approved.
·
Toprol-XL franchise
sales in the US in the first half were up 251 percent to $474
million.
·
Sales of
Seloken in other
markets were up 2 percent in both the second quarter and the first
half.
·
US sales
for Atacand were
down 4 percent in the second quarter and 3 percent in the first
half. Atacand sales in Rest
of World were up 9 percent in the second quarter and 8 percent for the
year to date.
Respiratory and
Inflammation
Second
Quarter
CER
%
Half
Year
CER
%
2009
$m
2008
$m
2009
$m
2008
$m
Symbicort
551
518
+24
1,066
989
+24
Pulmicort
311
383
-14
603
794
-20
Rhinocort
72
92
-15
136
172
-15
Oxis
16
21
-5
28
38
-8
Accolate
16
19
-16
32
37
-11
Total
997
1,078
+4
1,932
2,118
+2
·
Symbicort sales in the
US were $111 million in the second quarter, a 95 percent increase over
last year. Growth is being fuelled by continued penetration of
the asthma market as well as the contribution from the launch of the COPD
indication. Symbicort share of new
prescriptions for fixed combination products increased to 13.9 percent in
June 2009, up more than a full percentage point in the quarter; market
share of patients new to combination therapy is now 22.9
percent.
·
US sales of
Symbicort in the
first half were $210 million, an increase of 108 percent.
·
Symbicort sales in
other markets in the second quarter were $440 million, 15 percent ahead of
the second quarter last year, with sales growth being fuelled by Symbicort SMART, which has now
been approved in 96 markets. Sales in Western Europe were up 15
percent. Emerging Markets sales were up 19 percent in the
quarter.
·
Symbicort sales in the
Rest of World in the first half were up 14 percent to $856
million.
·
US sales for
Pulmicort in the
second quarter were down 23 percent to $194 million. The
generic budesonide for inhalation suspension (BIS) product shipped by Teva
at the end of 2008 continues to be drawn down in the
market. Pulmicort Respules
share of dispensed BIS prescriptions increased to 62 percent in the second
quarter, up from 48 percent in quarter one. We anticipate that the
remaining stock of the Teva generic should be depleted from dispensing
outlets during the third quarter 2009.
·
US sales of
Pulmicort in the
first half were down 30 percent to $367 million.
·
Sales of
Pulmicort in the
Rest of World in the first half were unchanged at $236
million.
Oncology
Second
Quarter
CER
%
Half
Year
CER
%
2009
$m
2008
$m
2009
$m
2008
$m
Arimidex
483
490
+7
946
920
+10
Casodex
245
358
-29
481
674
-28
Zoladex
272
310
-1
504
565
-1
Iressa
75
67
+10
143
125
+10
Faslodex
64
65
+9
123
121
+12
Nolvadex
22
24
-4
42
42
-
Ethyol
5
6
-17
9
20
-55
Total
1,167
1,338
-6
2,250
2,503
-5
·
In the US,
sales of Arimidex
were up 11 percent in the second quarter to $224 million. Total
prescriptions for Arimidex were down 4
percent, slightly greater than the 2 percent decline in the market for
hormonal treatments for breast cancer.
·
US sales for
Arimidex in the
first half were up 15 percent to $443 million.
·
Arimidex sales in other
markets were up 3 percent in the second quarter and 7 percent in the first
half.
·
Casodex sales in the US
in the second quarter were down 21 percent to $62
million. Total prescriptions declined by 6 percent and there
was some destocking in anticipation of generic launches following loss of
exclusivity in April. On 7 July 2009, the FDA approved 8
generic bicalutamide products. Casodex sales in the US
in the first half were down 19 percent to $116 million.
·
Casodex sales in the
Rest of World in the second quarter were down 31 percent to $183 million
as a result of generic competition in Western Europe, where sales were
down 60 percent. Sales in the first half in Rest of World were
down 30 percent to $365 million.
·
Iressa sales increased
by 10 percent to $143 million in the first half, with the sales
performance in Japan (up 14 percent) and China (up 36 percent) accounting
for the increase.
·
Faslodex sales in the
first half increased by 6 percent in the US and grew by 16 percent in the
Rest of World.
Neuroscience
Second
Quarter
CER
%
Half
Year
CER
%
2009
$m
2008
$m
2009
$m
2008
$m
Seroquel
1,249
1,112
+18
2,374
2,162
+15
Zomig
107
114
+3
208
221
+2
Total
1,591
1,488
+14
3,023
2,866
+12
·
In the US,
Seroquel sales
were up 22 percent to $893 million in the second quarter. Total
prescriptions for the Seroquel franchise
increased by 3.5 percent in the second quarter, with all of the growth
attributable to the Seroquel XR
formulation. Market share for the Seroquel franchise was
a market-leading 31.2 percent in June 2009 (down 30 basis points in the
quarter), of which 2.3 percentage points were for Seroquel XR, which was
up 80 basis points.
·
US sales for
Seroquel in the
first half were $1,693 million, 18 percent ahead of last
year.
·
Seroquel sales in the
Rest of World were $356 million in the second quarter, an 11 percent
increase despite the 70 percent decline in Canada due to generic
competition. Sales in Western Europe were up 22
percent. Sales in Emerging Markets were up 28
percent.
·
For the first
half, Seroquel
sales in the Rest of World increased by 9 percent to $681
million.
Infection and
Other
Second
Quarter
CER
%
Half
Year
CER
%
2009
$m
2008
$m
2009
$m
2008
$m
Synagis
54
81
-33
599
600
-
Merrem
213
226
+9
415
439
+8
FluMist
-
-
-
2
-
n/m
Total
302
365
-7
1,094
1,152
+1
·
In the US,
sales of Synagis
in the first half were up 3 percent to $502 million, the majority of which
were recorded during the RSV season in the first
quarter. Outside the US, Synagis sales were down
13 percent to $97 million.
·
In line with
the usual seasonality, there were no sales of FluMist recorded in the
second quarter.
·
The US
government has placed 2 orders totalling $151 million for MedImmune’s LAIV
against Novel Influenza A (H1N1) which are scheduled for shipment
beginning in the second half of 2009. This project has been
funded in whole or in part with Federal funds from HHS/ASPR/BARDA, under
Contract No. HHS01002009000021.
Geographic
Sales
Second
Quarter
CER
%
Half
Year
CER
%
2009
$m
2008
$m
2009
$m
2008
$m
North
America
3,843
3,463
+13
7,734
7,186
+9
US
3,548
3,126
+13
7,172
6,527
+10
Established
ROW*
3,051
3,340
+5
5,885
6,313
+4
Emerging
ROW
1,064
1,153
+8
2,040
2,134
+11
*
Established
ROW comprises Western Europe (including France, UK, Germany, Italy,
Sweden, and others), Japan, Australia and New
Zealand.
·
In the US,
sales were up 13 percent in the second quarter. Excluding Toprol-XL, sales
increased by 6 percent. Seroquel, Crestor and Symbicort were the key
drivers of sales growth in the quarter, more than offsetting the declines
in Prilosec,
Nexium and Pulmicort
Respules.
·
Sales in the
Established Rest of World segment were up 5 percent in the second
quarter. Sales in Western Europe were up 2 percent, as growth
for Crestor,
Symbicort and
Seroquel more
than offset generic erosion on Casodex. Sales
in Japan were up 11 percent, chiefly on sales growth for Crestor, the Oncology
franchise and Losec. Crestor accounted for
more than two-thirds of the 17 percent sales increase in
Australia.
·
Sales in
Emerging Markets were up 8 percent in the second quarter. This
is lower than the trend in recent quarters but is broadly in line with our
expectations, although sales in Mexico were impacted by H1N1 influenza as
well as a change in local distribution. Sales in China were up
25 percent in the quarter. The Company anticipates double-digit
sales growth in Emerging Markets for the full
year.
Operating
and Financial Review
All
narrative in this section refers to growth rates at constant exchange rates
(CER) and on a Core basis unless otherwise indicated. These measures,
which are presented in addition to our Reported financial information, are
non-GAAP measures which management believe useful to enhance understanding of
the Group’s underlying financial performance of our ongoing businesses and the
key business drivers thereto. The Core financial measure is adjusted
to exclude certain items, such as charges and provisions related to
restructuring and synergy programmes, amortisation and the impairment of the
significant intangibles arising from corporate acquisitions and those related to
our current and future exit arrangements with Merck in the US, and other
specified items. More detail on the nature of each of these
adjustments is given in our Annual Report and Form 20-F Information
2008. During the second quarter, the Group enhanced its methodology
for calculating growth rates in constant currency terms. The constant
exchange growth rates (CER) disclosed for the second quarter and the first half
have been calculated using the updated methodology.
Second
Quarter
All
financial figures, except earnings per share, are in $
millions. Weighted average shares in millions.
Reported
2009
Restructuring
and
Synergy Costs
Merck
&
MedImmune
Amortisation
Intangible
Impairments
Legal
Provisions
Core
2009
Core
2008
Actual
%
CER
%
Sales
7,958
-
-
-
-
7,958
7,956
-
9
Cost of
Sales
(1,464)
84
-
-
-
(1,380)
(1,431)
Gross
Profit
6,494
84
-
-
-
6,578
6,525
1
10
%
sales
81.6%
82.7%
82.0%
+0.7
+0.7
Distribution
(70)
-
-
-
-
(70)
(75)
(8)
11
%
sales
0.9%
0.9%
0.9%
-
-0.1
R&D
(1,059)
24
-
-
-
(1,035)
(1,265)
(18)
(3)
%
sales
13.3%
13.0%
15.9%
+2.9
+1.8
SG&A
(2,828)
82
100
-
430
(2,216)
(2,656)
(17)
(8)
%
sales
35.5%
27.9%
33.4%
+5.5
+5.0
Other
Income
314
-
35
-
-
349
208
68
70
%
sales
3.9%
4.4%
2.6%
+1.8
+1.5
Operating
Profit
2,851
190
135
-
430
3,606
2,737
32
37
%
sales
35.8%
45.3%
34.4%
+10.9
+8.9
Net Finance
Expense
(243)
-
-
-
-
(243)
(194)
Profit
before Tax
2,608
190
135
-
430
3,363
2,543
32
38
Taxation
(891)
(61)
(37)
-
-
(989)
(719)
Profit
after Tax
1,717
129
98
-
430
2,374
1,824
30
36
Minority
Interests
(10)
-
-
-
-
(10)
(8)
Net
Profit
1,707
129
98
-
430
2,364
1,816
30
36
Weighted
Average Shares
1,448
1,448
1,448
1,448
1,448
1,448
1,456
Earnings
per Share
1.18
0.10
0.06
-
0.30
1.64
1.25
31
37
Sales were
unchanged on an actual basis but grew by 9 percent at constant
currency.
Core gross margin
of 82.7 percent in the second quarter was 0.7 percentage points higher than last
year. Lower payments to Merck (0.4 percentage points) and continued
efficiency gains and mix factors (1.4 percentage points) were partially offset
by higher royalty payments (1.1 percentage points).
Core R&D
expenditure was $1,035 million in the second quarter, 3 percent lower than last
year, as increased investment in biologics and the MAP intangible write off of
$44 million were more than offset by continued R&D productivity initiatives
and lower costs associated with Crestor JUPITER and Brilinta PLATO trials
compared with last year.
Core SG&A costs
of $2,216 million were 8 percent lower than the second quarter of 2008, as
continued investment in Emerging Markets was more than offset by the operational
efficiencies across the US and Established Markets and a reduction in certain
legal expenses from last year.
Core other income
of $349 million was $141 million higher than the second quarter of 2008, chiefly
as a result of the Nordic over-the-counter (OTC) product portfolio
disposal.
Core operating
profit was $3,606 million, an increase of 37 percent at CER, up 32 percent on an
actual basis. In comparison with last year against the dollar, the euro was 13
percent weaker (reducing sales and costs), the Swedish krona was 24 percent
weaker (reducing costs) and sterling was 22 percent weaker (reducing costs).
Core operating margin increased by 8.9 percent to 45.3 percent of sales, as a
result of sales growth, efficiencies in gross margin, SG&A and R&D as
well as the Nordic OTC disposal within other income.
Core earnings per
share in the second quarter were $1.64, up 37 percent, as the increase in Core
operating profit was partially offset by a higher tax rate and higher net
finance expense. Core earnings per share on an actual basis, including an
adverse currency impact of 6 percent, increased by 31 percent.
Reported operating
profit was up 19 percent to $2,851 million. Reported earnings per share were
$1.18.
First
Half
All
financial figures in table, except earnings per share, are in $
millions. Weighted average shares in millions.
Reported
2009
Restructuring
and
Synergy Costs
Merck
&
MedImmune
Amortisation
Intangible
Impairments
Legal
Provisions
Core
2009
Core
2008
Actual
%
CER
%
Sales
15,659
-
-
-
-
15,659
15,633
-
8
Cost of
Sales
(2,847)
115
-
-
-
(2,732)
(2,901)
Gross
Profit
12,812
115
-
-
-
12,927
12,732
2
9
%
sales
81.8%
82.6%
81.5%
+1.1
+0.8
Distribution
(134)
-
-
-
-
(134)
(141)
(5)
13
%
sales
0.9%
0.9%
0.9%
-
-0.1
R&D
(2,039)
24
-
-
-
(2,015)
(2,447)
(18)
(2)
%
sales
13.0%
12.9%
15.7%
+2.8
+1.4
SG&A
(5,204)
123
199
-
430
(4,452)
(5,001)
(11)
(2)
%
sales
33.2%
28.4%
32.0%
+3.6
+2.9
Other
Income
579
-
63
-
-
642
359
79
87
%
sales
3.7%
4.1%
2.3%
+1.8
+1.7
Operating
Profit
6,014
262
262
-
430
6,968
5,502
27
28
%
sales
38.4%
44.5%
35.2%
+9.3
+6.7
Net Finance
Expense
(403)
-
-
-
-
(403)
(308)
Profit
before Tax
5,611
262
262
-
430
6,565
5,194
26
28
Taxation
(1,750)
(82)
(67)
-
-
(1,899)
(1,501)
Profit
after Tax
3,861
180
195
-
430
4,666
3,693
26
28
Minority
Interests
(8)
-
-
-
-
(8)
(10)
Net
Profit
3,853
180
195
-
430
4,658
3,683
26
28
Weighted
Average Shares
1,447
1,447
1,447
1,447
1,447
1,447
1,456
Earnings
per Share
2.66
0.13
0.13
-
0.30
3.22
2.53
27
28
Sales were
unchanged on a reported basis but grew by 8 percent at constant
currency.
Core gross margin
of 82.6 percent in the first half was 0.8 percentage points higher than last
year. Lower payments to Merck (0.6 percentage points) and continued efficiency
gains and mix factors (1.2 percentage points) were partially offset by higher
royalty payments (1.0 percentage points).
Core R&D
expenditure was $2,015 million in the first half, 2 percent lower than last year
due to similar drivers as described in the second quarter.
Core SG&A costs
of $4,452 million were 2 percent lower than the first half of 2008, where
continued investment in Emerging Markets was more than offset by the operational
efficiencies across the US and Established Markets.
Core other income
of $642 million was $283 million higher than the first half of 2008, chiefly as
a result of the Abraxaneâ
and Nordic OTC disposals.
Core operating
profit was $6,968 million, an increase of 28 percent at CER, up 27 percent on an
actual basis. Core operating margin increased by 6.7 percent to 44.5 percent of
sales, as a result of sales growth, efficiencies in gross margin, SG&A and
R&D as well as the disposals within other income.
Core earnings per
share in the first half were $3.22, up 28 percent, as the increase in Core
operating profit and a lower number of shares in issue were partially offset by
higher net finance expense. Core earnings per share on an actual basis,
including an adverse currency impact of 1 percent, increased by 27
percent.
Reported operating
profit was up 28 percent to $6,014 million. Reported earnings per share were
$2.66.
Finance
Income and Expense
Net finance expense
was $403 million for the first half ($243 million for the quarter), versus $308
million ($194 million for the quarter) in 2008. The key drivers were the
continued reversal of the fair value gain as described below, reduced interest
received due to lower interest rates, a higher net interest expense on pension
obligations, partially offset by reduced interest payable on lower debt
balances.
Net finance expense
included a net fair value loss of $79 million for the quarter ($36 million loss
in Q2 2008) and $100 million for the first half ($8 million gain in H1 2008) as
credit spreads have reduced since the year end. As outlined in the
full year 2008 results, a net fair value gain of $130 million was recorded in
2008 mainly relating to two long-term bonds. These bonds are swapped to floating
interest rates and accounted for using the fair value option under IFRS. Under
this accounting treatment both the bonds and the related interest rate swaps are
measured at fair value, with changes in fair value reported in the income
statement. The fair value of each instrument reflects changes in market interest
rates, which broadly offset, but the fair value of these bonds also reflects
changes in credit spreads. If credit spreads continue to reduce, the
2008 gain will reverse further in 2009.
Taxation
The effective tax
rate for the second quarter is 34.2 percent (2008 28.6 percent) and 31.2 percent
for the first half (2008 29.1 percent). Excluding the impact of the $430 million
legal provisions in the second quarter, the effective tax rate for the second
quarter would be 29.3 percent, and 29.0 percent for the first
half. For the full year, the tax rate, excluding the impact of the
$430 million legal provisions, is currently anticipated to be around 29.5
percent.
Cash
Flow
Cash generated from
operating activities was $5,334 million in the six months to 30 June 2009,
compared with $4,292 million in the corresponding six month period in
2008. The improvement of $1,042 million is primarily driven by the
increase in cash generated from operations of $1,224 million, reflecting the
strong underlying performance and improved working capital management, partially
offset by higher tax payments of $186 million.
Net cash outflows
from investing activities were $162 million in the six months compared with
$3,199 million in the corresponding period in 2008. The movement of $3,037
million is due primarily to the payment of $2,630 million to Merck in 2008 as
part of the partial retirement, and the proceeds from the disposal of the
Abraxane®
co-promotion rights of $269 million received in H1 2009.
Cash distributions
to shareholders were $2,103 million through payment of the second interim
dividend from 2008.
Debt
and Capital Structure
As at 30 June 2009,
outstanding gross debt (including loans, short-term borrowings and overdrafts)
was $11,661 million (31 December 2008: $11,848 million). Of this
debt, $1,498 million is due within one year (31 December 2008: $993 million),
which we currently anticipate repaying from current cash balances of $7,195
million, without the need to refinance. Strong business cash flows
have reduced net debt by $3,008 million since 31 December 2008 to $4,166
million.
Dividends
and Share Repurchases
The Board has
recommended a first interim dividend for 2009 of $0.59 per share (36.0 pence,
4.41 SEK), an increase of 7 percent, to be paid on 14 September
2009.
As announced in
2008, the Group’s share repurchase programme has been suspended. As a
result, during the first six months, no shares were re-purchased. In the half
year, 0.6 million shares were issued in consideration of share option exercises
for a total of $19 million.
The total number of
shares in issue at 30 June 2009 was 1,448 million.
Related
Party Transactions
There have been no
significant related party transactions in the period.
Calendar
29 October
2009
Announcement
of third quarter and nine months 2009 results
28 January
2010
Announcement
of fourth quarter and full year 2009
results
David
Brennan
Chief Executive
Officer
Media
Enquiries:
Neil McCrae
(London)