CLINICAL AND REGULATORY CHANGES AT ASTRAZENECA- GUIDANCE FROM SIR TOM McKILLOP, CHIEF EXECUTIVE

AstraZeneca is committed to the development of innovative medicines but Exanta and Iressa, two products based on breakthrough science, have suffered setbacks. Following the non-approval of Exanta by FDA, we accelerated a significant programme of change in the development and regulatory functions, based on the learning from these and other experiences. Today’s announcement of John Patterson’s appointment to the Board as Executive Director responsible for DeveIopment is a further step in this process. John Patterson is highly experienced in clinical and regulatory development and has been closely associated with the development of a number of successful products, including our oncology portfolio and Seroquel. He is also widely experienced in the industry, in development and all facets of product strategy. I have charged John with overseeing in particular: · The design and implementation of all clinical and regulatory programmes with emphasis on rigorous risk assessment and risk management; · Implementation of substantial changes to the clinical organisation and its processes; · The improvement of our regulatory capability and our effectiveness in interactions with regulatory authorities. AstraZeneca has always set out to deliver sustainable shareholder value. These recent disappointments set in a more hostile environment towards pharmaceutical stocks, have resulted in a substantial loss of value. I am determined to improve our development and regulatory performance, restore confidence in the company and value to shareholders. The company is financially strong and is both committed to and capable of delivering good earnings growth derived from its existing growth portfolio, coupled with rigorous cost management. Particular emphasis is being given to: · Productivity across all business areas to underpin margin improvement; and · Maximising underlying free cash flow to enhance potential shareholder return. Financial performance in 2004 remains strong and the company reiterates earnings per share guidance for the year of $2.10 or a little better, before exceptional items or any provisions for Iressa assets or additional charges relating to Exanta, should it not gain approval in France. I will provide an update on the progress we are making as a part of the Annual Results presentation on 27th January 2005. -ends- 11.00 GMT Friday 17th December Media Enquiries: Edel McCaffrey, Tel: +44 (0) 207 304 5034 Steve Brown, Tel: +44 (0) 207 304 5033 Investor Enquiries: Mina Blair, Tel: +44 (0) 207 304 5084 Jonathan Hunt, Tel: +44 (0) 207 304 5087

About Us

AstraZeneca is a global, innovation-driven biopharmaceutical business with a primary focus on the discovery, development and commercialisation of prescription medicines. As a leader in gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease medicines, AstraZeneca generated global revenues of US $32.8 billion in 2009. For more information please visit: www.astrazeneca.com

Subscribe