Release Date: April 29, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: How should we think about the impact of the Medicare Part D redesign in the US as we move through the year? Was it mostly Q1 weighted or do you expect further impact from here? A: David Fredrickson, Executive Vice President - Oncology Business Unit: The Part D redesign is a rebasing that happened at the beginning of the year. The catastrophic coverage is triggered on the first fill within our oral oncology products, so it will not grow from here. We saw a 20% increase in volumes for Tagrisso in the US, driven by ongoing launches and reduced free good utilization, offsetting the gross to net impact from Part D redesign. We expect continued revenue growth throughout 2025.
Q: Can you talk about the oral PCSK9 program and its potential market impact? A: Ruud Dobber, Executive Vice President - BioPharmaceuticals Business Unit: The oral PCSK9 has the potential to unlock a large market opportunity, addressing the 70% of patients not at cholesterol goal. It offers a more accessible option compared to injectables, especially in emerging markets. The product is a true small molecule, allowing for potential combinations with other treatments like Crestor, enhancing its market potential.
Q: Are you considering any incremental US manufacturing investments? A: Aradhana Sarin, Chief Financial Officer, Executive Director: We are taking actions to manage the minority of products imported from Europe to the US, including tech transfers and capacity building. We have dual-source supply and capacity within existing facilities, so incremental investment will be manageable. Our CapEx is expected to be 50% higher than last year, and future investments will depend on the success of our pipeline.
Q: Could you provide an update on the AVANZAR trial and its significance? A: Susan Galbraith, Executive Vice President - Oncology and Research and Development: AVANZAR is progressing well, with results expected in the second half of the year. The trial focuses on the non-squamous patient population and incorporates the QCS biomarker. We have confidence in the combinability of Datroway with Imfinzi, and the trial is an important part of our broader strategy for Datroway across multiple indications.
Q: What is the outlook for AstraZeneca's growth in China? A: Iskra Reic, Executive Vice President - Vaccines and Immune Therapies: We saw strong performance in China with 5% growth in Q1, driven by Forxiga and the launch of Enhertu. Our underlying business is growing at 9% when adjusting for Pulmicort's decline. We continue to lead in the respiratory field and see growth opportunities with Tagrisso despite competition. We remain confident in our growth prospects in China.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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