A. History and Development of the Company AstraZeneca PLC was incorporated in England and Wales on June 17, 1992 under the Companies Act 1985. It is a public limited company domiciled in the United Kingdom. The Company’s registered number is 2723534 and its registered office is at 1 Francis Crick Avenue, Cambridge Biomedical Campus, Cambridge CB2 0AA, United Kingdom (Tel: +44 20 3749 5000). From February 1993 until April 1999, the Company was called Zeneca Group PLC. On April 6, 1999, the Company changed its name to AstraZeneca PLC. The Company was formed when the pharmaceutical, agrochemical and specialty chemical businesses of Imperial Chemical Industries PLC were demerged in 1993. In 1999, the Company sold the specialty chemical business. Also in 1999, the Company merged with Astra of Sweden. In 2000, it demerged the agrochemical business and merged it with the similar business of Novartis to form a new company called Syngenta AG. In 2007, the Group acquired MedImmune, a biologics and vaccines business based in the United States. In 2021, the Group acquired Alexion, a rare disease business based in the United States. In 1999, in connection with the merger between Astra and Zeneca, the Company’s share capital was redenominated in US dollars. On 6 April 1999, Zeneca shares were cancelled and US dollar-denominated shares issued, credited as fully paid on the basis of one dollar-denominated share for each Zeneca share then held. This was achieved by a reduction of capital under section 135 of the UK Companies Act 1985. Upon the reduction of capital becoming effective, all issued and unissued Zeneca shares were cancelled and the sum arising as a result of the share cancellation credited to a special reserve, which was converted into US dollars at the rate of exchange prevailing on the record date. This US dollar reserve was then applied in paying up, at par, newly created US dollar-denominated shares. At the same time as the US dollar shares were issued, the Company issued 50,000 Redeemable Preference Shares for cash, at par. The Redeemable Preference Shares carry limited class voting rights, no dividend rights and are capable of redemption, at par, at the option of the Company on the giving of seven days’ written notice to the registered holder of the Redeemable Preference Shares. A total of 826 million Ordinary Shares were issued to Astra shareholders who accepted the merger offer before the final closing date, 21 May 1999. The Company received acceptances from Astra shareholders representing 99.6% of Astra’s shares and the remaining 0.4% was acquired in 2000, for cash. In 2021, in connection with the acquisition of Alexion, a total of 236 million Ordinary Shares (the majority of which were represented by new AstraZeneca ADRs) were issued to Alexion shareholders in part consideration for the acquisition. In 2026, the Company terminated its American Depositary Receipt (“ADR”) programme and directly listed all of its Ordinary Shares on the New York Stock Exchange. The effective date of the direct listing of the Ordinary Shares on the New York Stock Exchange was 2 February 2026. The information (including tabular data) set forth under the headings “Strategic Report—Financial Review—Collaboration Revenue” on page 57, “Strategic Report—Financial Review—Restructuring” on page 59, “Strategic Report—Financial Review—Acquisitions treated as business combinations” and “—Acquisitions treated as asset acquisitions” on page 62, “Strategic Report—Financial Review—Investments, divestments and capital expenditure” on page 63, “Corporate Governance—Corporate Governance Report—Compliance with the UK Corporate Governance Code—Board leadership and Company purpose” on page 71 and “Additional Information—Important information for readers of this Annual Report—Information on websites” on page 228, in each case of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026 is incorporated by reference. Additionally, the information set forth under the heading “Strategic Report—Financial Review” on pages 67 to 84 (excluding the information set forth under the subheadings “Full year 2025: additional commentary” and “Currency impact” on page 81) of AstraZeneca’s “Annual Report and Form 20-F Information 2024” included as exhibit 15.1 to the Form 20-F dated February 18, 2025 is incorporated herein by reference. The United States Securities and Exchange Commission (the “SEC”) maintains a website at www.sec.gov which contains in electronic form each of the reports and other information that we have filed electronically with the SEC. 12 ​ B. Business Overview The information (including graphs and tabular data) set forth under the headings “Strategic Report—AstraZeneca at a Glance” on page 2, “Strategic Report—Chair’s Statement” on page 3, “Strategic Report—Chief Executive Officer’s Review” on pages 4 to 5, “Strategic Report—Financial highlights” on page 1, “Strategic Report—Healthcare in a Changing World” on pages 6 to 7, “Strategic Report—Our Purpose, Values and Business Model” on pages 8 to 9, “Strategic Report—Our Strategy and Key Performance Indicators” on pages 10 to 11, “Strategic Report—Therapy Area Review” on pages 12 to 25, “Strategic Report—Business Review” on pages 26 to 46, “Strategic Report—Risk Overview—Managing risk”, “—Emerging risks”, “—Climate risk”, “—Cybersecurity risk” on page 47, “Corporate Governance—Corporate Governance Report—Compliance with the UK Corporate Governance Code—Further information on risk management and controls—Global Compliance and GIA” on page 73, “Corporate Governance—Corporate Governance Report—Principal Decisions in 2025—Pipeline strengthening transactions” on page 77, “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on page 140 to 141, “Financial Statements—Notes to the Group Financial Statements—Note 7—Segment information” on pages 147 to 148, “Sustainability Statement” on pages 204 to 219, and “Additional Information—Important information for readers of this Annual Report—Statements of competitive position, growth rates and sales” on page 228, in each case of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026 is incorporated by reference. For the avoidance of doubt, KPMG’s Independent Sustainability Assurance Report is not included within this Form 20-F and therefore any references to this report (or the related assurance services) are not incorporated in, and do not form part of, this Form 20-F. ​ 13 ​ Development Pipeline as at February 10, 2026 This section sets out AstraZeneca-sponsored or -directed trial New Molecular Entities (“NMEs”) and significant indications. Anticipated data timing and submission status is provided for assets in Phase III or beyond. As disclosure of compound information is balanced by the business need to maintain confidentiality, information in relation to some compounds listed here has not been disclosed at this time. Key: PP = Partnered product Phase I ​ Compound ​ ​ ​ Mechanism ​ ​ ​ Additional Information ​ ​ ​ Area Under Investigation Oncology ​ ​ ​ ​ ​ ​ ​ AZD0240 ​ KRAS G12D armoured TCR-T ​ ​ ​ solid tumours ​ AZD0516 ​ STEAP2 TOP1i ADC ​ ​ ​ prostate cancer ​ AZD0754 ​ STEAP2 CAR-T ​ ​ ​ prostate cancer ​ AZD2068 ​ EGFR/cMET actinium radioconjugate ​ ​ ​ solid tumours ​ AZD2284 ​ STEAP2 actinium radioconjugate ​ ​ ​ prostate cancer ​ AZD2962 ​ IRAK4 inhibitor ​ ​ ​ haematological malignancies ​ AZD3632 ​ MENIN inhibitor ​ ​ ​ haematological malignancies ​ AZD4360 ​ CLDN18.2 TOP1i ADC ​ ​ ​ solid tumours ​ AZD4512 ​ CD22 TOP1i ADC ​ Modular Ph I/II open-label multi-center study ​ relapsed/refractory B-cell non-Hodgkin lymphoma ​ AZD5492 ​ CD20 TITAN T-cell engager ​ ​ ​ haematology ​ AZD5863 ​ CLDN18.2/CD3 bispecific antibody ​ ​ ​ solid tumours ​ AZD6621 ​ STEAP2 T-cell engager ​ ​ ​ prostate cancer ​ AZD6750 ​ CD8-guided IL2 ​ ​ ​ solid tumours ​ AZD7003 (China) ​ GPC3 CAR-T ​ ​ ​ hepatocellular carcinoma/squamous non-small cell lung cancer ​ AZD8421 ​ CDK2 inhibitor ​ ​ ​ solid tumours ​ AZD9750 ​ AR PROTAC ​ ​ ​ prostate cancer ​ AZD9793 ​ GPC3 T-cell engager ​ ​ ​ solid tumours ​ NT-112 ​ KRAS G12D armoured TCR-T ​ ​ ​ solid tumours ​ NT-175 ​ TP53 R175H armoured TCR-T ​ ​ ​ solid tumours ​ surovatamig ​ CD19/CD3 T-cell engager ​ ​ ​ r/r B-cell non-Hodgkin lymphoma ​ surovatamig SOUNDTRACK-E ​ CD19/CD3 T-cell engager ​ ​ ​ mature B-cell malignancies ​ volrustomig + lenvatinib ​ PD-1/CTLA-4 bispecific mAb + VEGFi ​ ​ ​ advanced renal cell carcinoma ​ volrustomig eVOLVE-RCC02 ​ PD-1/CTLA-4 bispecific mAb ​ ​ ​ 1L advanced clear cell renal cell carcinoma ​ CVRM ​ ​ ​ ​ ​ ​ ​ AZD1613 ​ PAPPA-1 mAb ​ ​ ​ ADPKD ​ AZD1705 ​ lipid lowering ​ ​ ​ cardiovascular disease ​ AZD3974 ​ anti-inflammatory and anti-fibrotic mechanism ​ ​ ​ cirrhosis ​ AZD4063 ​ PLN ​ ​ ​ R14del dilated cardiomyopathy ​ AZD4144 ​ NLRP3 ​ ​ ​ cardiorenal disease ​ AZD4248 ​ NNMT inhibitor ​ ​ ​ cardiorenal disease ​ AZD4954 ​ Lp(a) inhibitor ​ ​ ​ dyslipidaemia ​ Respiratory & Immunology ​ ​ ​ ​ ​ ​ ​ AZD0120 ​ CD19/BCMA CAR-T ​ ​ ​ systemic lupus erythematosus ​ AZD0120 ​ CD19/BCMA CAR-T ​ ​ ​ autoimmune diseases ​ AZD0120 ​ CD19/BCMA CAR-T ​ ​ ​ multiple sclerosis ​ AZD5492 ​ CD20 TITAN T-cell engager ​ ​ ​ systemic lupus erythematosus ​ AZD6912 ​ siRNA ​ ​ ​ rheumatoid arthritis ​ AZD8965 ​ inhibition of arginase enzyme ​ ​ ​ idiopathic pulmonary fibrosis ​ surovatamig ​ CD19/CD3 T-cell engager ​ ​ ​ B-cell driven autoimmune disease ​ Rare Disease ​ ​ ​ ​ ​ ​ ​ ALXN2080 ​ oral factor D inhibitor ​ ​ ​ healthy volunteers ​ ALXN2350 DCMRestore ​ AAV gene therapy ​ ​ ​ BAG3-associated dilated cardiomyopathy ​ AZD0120 ALACRITY ​ CD19/BCMA CAR-T ​ ​ ​ amyloid light-chain amyloidosis ​ AZD1390 AGILE ​ ATM inhibitor ​ ​ ​ glioblastoma ​ ​ ​ 14 ​ Phase II ​ Compound ​ ​ ​ Mechanism ​ ​ ​ Additional Information ​ ​ ​ Area Under Investigation Oncology ​ ​ ​ ​ ​ ​ ​ AZD0120 ​ CD19/BCMA CAR-T ​ ​ ​ multiple myeloma ​ AZD0305 ​ GPRC5D MMAE ADC ​ ​ ​ relapsed/refractory multiple myeloma ​ AZD3470 ​ PRMT5 inhibitor ​ cHL (Phase II), solid tumours (Phase I) ​ classic Hodgkin lymphoma, solid tumours ​ AZD9574 ​ PARP1 inhibitor ​ ​ ​ advanced solid malignancies ​ camizestrant ​ ngSERD ​ ​ ​ HR+ HER2- breast cancer ​ FPI-2265 ​ PSMA actinium radioconjugate ​ (PP) ​ prostate cancer ​ IPH5201 + Imfinzi ​ CD39 mAb + PD-L1 mAb ​ (PP) ​ neoadjuvant/adjuvant NSCLC ​ puxitatug samrotecan ​ B7-H4 TOP1i ADC ​ ​ solid tumours ​ rilvegostomig ARTEMIDE-01 ​ PD-1/TIGIT bispecific mAb ​ (PP) ​ solid tumours ​ saruparib ​ PARP1 inhibitor ​ ​ solid tumours ​ sonesitatug vedotin ​ CLDN18.2 MMAE ADC ​ ​ ​ solid tumours ​ surovatamig SOUNDTRACK-B ​ CD19/CD3 T-cell engager ​ ​ ​ B-cell non-Hodgkin lymphoma ​ surovatamig SYRUS ​ CD19/CD3 T-cell engager ​ ​ ​ B-cell acute lymphoblastic leukaemia ​ tilatamig samrotecan ​ EGFR/cMET TOP1i ADC ​ ​ ​ solid tumours ​ torvutatug samrotecan (AZD5335) ​ anti-FRα TOP1i ADC ​ ​ ​ ovarian cancer, solid tumours ​ volrustomig ​ PD-1/CTLA-4 bispecific mAb ​ ​ ​ solid tumours ​ volrustomig CANTOR ​ PD-1/CTLA-4 bispecific mAb ​ ​ ​ colorectal cancer (mCRC) ​ volrustomig eVOLVE-01 ​ PD-1/CTLA-4 bispecific mAb ​ ​ ​ NSCLC ​ volrustomig eVOLVE-02 ​ PD-1/CTLA-4 bispecific mAb ​ ​ ​ cervical cancer, head and neck squamous cell carcinoma ​ CVRM ​ ​ ​ ​ ​ ​ ​ AZD2389 ​ anti-fibrotic mechanism ​ ​ ​ metabolic dysfunction-associated steatohepatitis ​ AZD5462 ​ RXFP1 agonist ​ (PP) ​ heart failure ​ AZD6234 ​ peptide ​ ​ ​ chronic weight management in overweight or obesity ​ AZD9550 + AZD6234 ​ GLP-1R glucagon dual agonist + selective amylin agonist ​ ​ ​ obesity ​ balcinrenone/dapagliflozin ​ MR antagonist/modulator + SGLT2 inhibitor ​ ​ ​ CKD ​ elecoglipron (AZD5004) ​ oral GLP-1 receptor agonist ​ ​ ​ T2D/chronic weight management ​ opemalirsen ​ podocyte health ​ ​ ​ nephropathy ​ Respiratory & Immunology ​ ​ ​ ​ ​ ​ ​ atuliflapon ​ FLAP inhibitor ​ ​ ​ asthma ​ AZD1163 ​ anti-PAD2/4 bispecific antibody ​ ​ ​ rheumatoid arthritis ​ AZD4604 ​ inhaled JAK1 inhibitor ​ ​ ​ asthma ​ AZD6793 ​ IRAK4 inhibitor ​ ​ ​ COPD ​ AZD7798 ​ humanised monoclonal antibody targets T-cells subset ​ ​ ​ Crohn’s disease ​ AZD8630 ​ inhaled TSLP FAb ​ (PP) ​ asthma ​ tozorakimab ​ IL-33 mAb ​ ​ ​ asthma ​ Vaccines & Immune Therapies ​ ​ ​ ​ ​ ​ ​ AZD0292 ​ pseudomonas Psl-PcrV bispecific mAb ​ ​ ​ bronchiectasis ​ AZD5148 ​ anti-clostridioides difficile TcdB mAb ​ ​ ​ reduction of C. diff recurrence ​ AZD7760 ​ mAb combination targeting S aureus virulence factors ​ ​ ​ prevention of Staph aureus infection ​ Rare Disease ​ ​ ​ ​ ​ ​ ​ ALXN1920 AUTUMN ​ kidney-targeted factor H fusion protein ​ ​ ​ primary membranous nephropathy ​ ALXN2030 CONCORD ​ siRNA targeting complement C3 ​ ​ ​ antibody mediated rejection ​ ALXN2420 ASTERIA ​ growth hormone receptor antagonist ​ ​ ​ acromegaly ​ tarperprumig I TRANSCEND ​ kinase inhibitor ​ ​ ​ ANCA-associated vasculitis ​ ​ ​ 15 ​ Phase III/Pivotal Phase II/Registration (listed until launched in all applicable major markets) ​ Compound ​ ​ ​ Mechanism ​ ​ ​ Additional Information ​ ​ ​ Area Under Investigation ​ ​ ​ Data readout/submission status Oncology ​ ​ ​ ​ ​ ​ ​ ​ ​ camizestrant + CDK4/6i SERENA-6 ​ ngSERD + CDK4/6i ​ ​ ​ 1L HR+ HER2- ESR1m advanced breast cancer ​ Accepted ​ camizestrant + palbociclib SERENA-4 ​ ngSERD + CDK4/6i ​ ​ ​ 1L HR+ HER2- advanced breast cancer ​ H2 2026 ​ camizestrant +/- abemaciclib CAMBRIA-2 ​ ngSERD + CDK4/6i ​ ​ ​ adjuvant HR+ HER2- early breast cancer ​ >2027 ​ camizestrant CAMBRIA-1 ​ ngSERD ​ ​ ​ adjuvant switch HR+ HER2- early breast cancer ​ 2027 ​ Imfinzi + Imjudo HIMALAYA ​ PD-L1 mAb + CTLA-4 mAb ​ ​ ​ 1L unresectable HCC ​ Launched ​ Imfinzi +/- oleclumab +/- monalizumab PACIFIC-9 ​ PD-L1 mAb +/- CD73 mAb +/- NKG2A mAb ​ (PP) ​ unresectable stage III NSCLC ​ H2 2026 ​ puxitatug samrotecan Bluestar-Endometrial01 ​ B7-H4 TOP1i ADC ​ ​ ​ 2-3L B7-H4+ endometrial cancer ​ 2027 ​ rilvegostomig + bevacizumab +/- Imjudo ARTEMIDE-HCC01 ​ PD-1/TIGIT bispecific mAb +VEGFi +/- CTLA-4 mAb ​ (PP) ​ 1L HCC ​ >2027 ​ rilvegostomig + CTx ARTEMIDE-Biliary01 ​ PD-1/TIGIT bispecific mAb + CTx ​ (PP) ​ adjuvant biliary tract cancer ​ >2027 ​ rilvegostomig + CTx ARTEMIDE-Lung02 ​ PD-1/TIGIT bispecific mAb + CTx ​ (PP) ​ 1L PD-L1 TC ≥1% SQ NSCLC ​ >2027 ​ rilvegostomig + Enhertu ARTEMIDE-Gastric01 ​ PD-1/TIGIT bispecific mAb + HER2 TOP1i ADC ​ (PP) ​ 1L HER2+ gastric cancer ​ >2027 ​ rilvegostomig ARTEMIDE-Biliary02 ​ PD-1/TIGIT bispecific mAb ​ (PP) ​ metastatic biliary tract cancer ​ >2027 ​ rilvegostomig ARTEMIDE-Lung03 ​ PD-1/TIGIT bispecific mAb ​ (PP) ​ 1L PD-L1 TC ≥1% NSQ NSCLC ​ >2027 ​ rilvegostomig ARTEMIDE-Lung04 ​ PD-1/TIGIT bispecific mAb ​ (PP) ​ 1L PD-L1≥50% NSCLC ​ >2027 ​ saruparib + ADT +/- abiraterone EvoPAR-Prostate02 ​ PARP1 inhibitor + ADT +/- NHA ​ ​ ​ localised/locally advanced BRCAm prostate cancer ​ >2027 ​ saruparib + camizestrant EvoPAR-Breast01 ​ PARP1 inhibitor + ngSERD ​ ​ ​ BRCA/PALB2m HR+ HER2- metastatic breast cancer ​ >2027 ​ saruparib + NHA EvoPAR-Prostate01 ​ PARP1 inhibitor + NHA ​ ​ ​ HRRm/non-HRRm mCSPC ​ >2027 ​ sonesitatug vedotin CLARITY-Gastric01 ​ CLDN18.2 MMAE ADC ​ ​ ​ 2L+ CLDN18.2+ gastric cancer ​ H1 2026 ​ surovatamig SOUNDTRACK-D2 ​ CD19/CD3 T-cell engager ​ ​ ​ 1L elderly DLBCL ​ >2027 ​ surovatamig SOUNDTRACK-F1 ​ CD19/CD3 T-cell engager ​ ​ ​ follicular lymphoma ​ >2027 ​ torvutatug samrotecan (AZD5335) TREVI-OC-01 ​ anti-FRα TOP1i ADC ​ ​ ​ ovarian cancer ​ >2027 ​ volrustomig eVOLVE-Cervical ​ PD-1/CTLA-4 bispecific mAb ​ ​ ​ high-risk locally advanced cervical cancer ​ 2027 ​ volrustomig eVOLVE-HNSCC ​ PD-1/CTLA-4 bispecific mAb ​ ​ ​ unresected locally advanced head and neck squamous cell carcinoma ​ >2027 ​ volrustomig eVOLVE-Lung02 ​ PD-1/CTLA-4 bispecific mAb ​ ​ ​ 1L metastatic NSCLC ​ 2027 ​ volrustomig eVOLVE-Meso ​ PD-1/CTLA-4 bispecific mAb ​ ​ ​ 1L unresectable malignant pleural mesothelioma ​ >2027 ​ volrustomig eVOLVE-Meso ​ PD-1/CTLA-4 bispecific mAb ​ ​ ​ 1L unresectable malignant pleural mesothelioma ​ >2026 ​ CVRM ​ ​ ​ ​ ​ ​ ​ ​ ​ balcinrenone/dapagliflozin ​ MR antagonist/modulator + SGLT2 inhibitor ​ ​ ​ heart failure with CKD ​ 2027 ​ baxdrostat BaxHTN Bax24 BaxAsia ​ aldosterone synthase inhibitor ​ ​ ​ hypertension ​ Accepted ​ baxdrostat BaxPA ​ aldosterone synthase inhibitor ​ ​ ​ primary aldosteronism ​ >2027 ​ baxdrostat/dapagliflozin ​ aldosterone synthase inhibitor and reversible inhibitor of SGLT2 ​ ​ ​ CKD ​ >2027 ​ baxdrostat/dapagliflozin ​ aldosterone synthase inhibitor and reversible inhibitor of SGLT2 ​ ​ ​ prevention of heart failure ​ >2027 ​ laroprovstat AZURE ​ PCSK9 inhibitor ​ ​ ​ dyslipidaemia ​ 2027 ​ Wainua ​ ligand-conjugated antisense ​ (PP) ​ patients with hereditary transthyretin-mediated amyloid polyneuropathy (ATTRv-PN) ​ Launched ​ zibotentan/dapagliflozin ​ endothelin A receptor antagonist/SGLT2 inhibitor ​ ​ ​ CKD with high proteinuria ​ 2027 ​ Respiratory & Immunology ​ ​ ​ ​ ​ ​ ​ ​ ​ Saphnelo TULIP 1 & TULIP 2 AZALEA (China) ​ type I IFN receptor mAb ​ (PP) ​ systemic lupus erythematosus ​ Launched ​ Tezspire NAVIGATOR DIRECTION (China) ​ TSLP mAb ​ (PP) ​ severe uncontrolled asthma ​ Launched ​ tozorakimab OBERON TITANIA PROSPERO MIRANDA ​ IL-33 mAb ​ ​ ​ chronic obstructive pulmonary disease ​ H1 2026 ​ tozorakimab TILIA ​ IL-33 mAb ​ ​ ​ severe viral lower respiratory tract disease ​ H2 2026 ​ Vaccines & Immune Therapies ​ ​ ​ ​ ​ ​ ​ Kavigale SUPERNOVA ​ SARS-CoV-2 LAAB ​ ​ ​ prevention of COVID-19 ​ Launched ​ Rare Disease ​ ​ ​ ​ ​ ​ ​ ​ ​ anselamimab CARES ​ fibril-reactive mAb ​ ​ amyloid light-chain amyloidosis ​ Accepted ​ cliramitug DepleTTR-CM ​ transthyretin depleter ​ (PP) ​ transthyretin amyloid cardiomyopathy ​ 2027 ​ efzimfotase alfa HICKORY (301), MULBERRY (305), CHESTNUT (303) ​ next generation TNSALP ERT ​ ​ ​ hypophosphatasia ​ H1 2026 ​ eneboparatide CALYPSO ​ parathyroid hormone receptor 1 ​ ​ ​ hypoparathyroidism ​ Q1 2025 ​ gefurulimab PREVAIL ​ novel anti-C5, dual binding, nanobody ​ ​ ​ generalised myasthenia gravis ​ Accepted ​ ​ 16 ​ Anticipated data timing and submission status is provided for assets in Phase III or beyond. Projects in Phase III unless otherwise noted. ​ Compound ​ ​ ​ Mechanism ​ ​ ​ Additional Information ​ ​ ​ Area Under Investigation ​ ​ ​ Data readout/submission status ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Oncology ​ ​ ​ ​ ​ ​ ​ ​ ​ Calquence + R-CHOP ESCALADE ​ BTK inhibitor + R-CHOP ​ ​ ​ 1L DLBCL ​ 2027 ​ Calquence + venetoclax + obinutuzumab AMPLIFY ​ BTK inhibitor + BCL-2 inhibitor + anti-CD20 mAb ​ ​ ​ 1L CLL ​ Launched ​ Calquence ECHO ​ BTK inhibitor ​ (PP) ​ 1L MCL ​ Launched ​ Datroway + Imfinzi + CTx AVANZAR ​ TROP2 TOP1i ADC + PD-L1 mAb + CTx ​ (PP) ​ 1L NSQ/NSQ TROP2+ NSCLC ​ H2 2026 ​ Datroway + Imfinzi TROPION-Breast04 ​ TROP2 TOP1i ADC + PD-L1 mAb ​ (PP) ​ neo/adjuvant TNBC or HR-low/HER2- breast cancer ​ >2027 ​ Datroway + Imfinzi TROPION-Breast05 ​ TROP2 TOP1i ADC + PD-L1 mAb ​ (PP) ​ 1L PD-L1 CPS ≥10 TNBC ​ 2027 ​ Datroway + pembrolizumab TROPION-Lung07 ​ TROP2 TOP1i ADC + PD-1 mAb ​ (PP) ​ 1L PD-L1 <50% NSQ NSCLC ​ H2 2026 ​ Datroway + pembrolizumab TROPION-Lung08 ​ TROP2 TOP1i ADC + PD-1 mAb ​ (PP) ​ 1L PD-L1 TPS ≥50% NSQ NSCLC ​ H2 2026 ​ Datroway + rilvegostomig TROPION-Lung10 ​ TROP2 TOP1i ADC + PD-1/TIGIT bispecific mAb ​ (PP) ​ 1L PD-L1 ≥50% NSQ NSCLC ​ >2027 ​ Datroway + Tagrisso TROPION-Lung14 ​ TROP2 TOP1i ADC + EGFR TKI ​ (PP) ​ 1L EGFRm NSCLC ​ >2027 ​ Datroway + Tagrisso TROPION-Lung15 ​ TROP2 TOP1i ADC + EGFR TKI ​ (PP) ​ 2L EGFRm NSCLC ​ H2 2026 ​ Datroway +/- Imfinzi TROPION-Breast03 ​ TROP2 TOP1i ADC +/- PD-L1 mAb ​ (PP) ​ post-neoadjuvant TNBC with residual disease ​ 2027 ​ Datroway TROPION-Breast02 ​ TROP2 TOP1i ADC ​ (PP) ​ 1L TNBC not candidates for IO ​ Accepted ​ Datroway TROPION-Lung05 ​ TROP2 TOP1i ADC ​ (PP) ​ advanced or metastatic EGFRm NSCLC progressed on prior systemic therapies including TKIs and platinum-based chemotherapy ​ Launched ​ Enhertu (platform) DESTINY-Breast07 ​ HER2 TOP1i ADC ​ (PP) Phase II LCM ​ HER2+ breast cancer ​ ​ ​ Enhertu + rilvegostomig DESTINY-BTC01 ​ HER2 TOP1i ADC + PD-1/TIGIT bispecific mAb ​ (PP) ​ 1L HER2+ biliary tract cancer ​ >2027 ​ Enhertu + rilvegostomig/ pembrolizumab DESTINY-Endometrial01 ​ HER2 TOP1i ADC + PD-1/TIGIT bispecific mAb/PD-1 mAb ​ (PP) ​ 1L HER2+ pMMR endometrial cancer ​ >2027 ​ Enhertu + pertuzumab DESTINY-Breast09 ​ HER2 TOP1i ADC ​ (PP) ​ 1L HER2+ breast cancer ​ Launched ​ Enhertu DESTINY-Breast05 ​ HER2 TOP1i ADC ​ (PP) ​ post-neoadjuvant high-risk HER2+ early breast cancer ​ Q3 2025 ​ Enhertu DESTINY-Breast06 ​ HER2 TOP1i ADC ​ (PP) ​ post-ET HR+ HER2-low/ultralow breast cancer ​ Launched ​ Enhertu DESTINY-Endometrial02 ​ HER2 TOP1i ADC ​ (PP) ​ adjuvant endometrial cancer ​ >2027 ​ Enhertu DESTINY-Gastric04 ​ HER2 TOP1i ADC ​ (PP) ​ 2L HER2+ gastric cancer ​ Launched ​ Enhertu DESTINY-Lung04 ​ HER2 TOP1i ADC ​ (PP) ​ 1L HER2m NSCLC ​ H1 2026 ​ Enhertu DESTINY-PanTumor03 (China) ​ HER2 TOP1i ADC ​ (PP) Phase II LCM ​ HER2 expressing solid tumours ​ ​ ​ Enhertu followed by THP DESTINY-Breast11 ​ HER2 TOP1i ADC ​ (PP) ​ neoadjuvant high-risk HER2+ early breast cancer ​ Accepted ​ Enhertu DESTINY-PanTumor01 ​ HER2 TOP1i ADC ​ (PP) Phase II LCM ​ HER2m solid tumours ​ ​ ​ Enhertu DESTINY-PanTumor02 ​ HER2 TOP1i ADC ​ (PP) Phase II LCM ​ HER2 expressing solid tumours ​ Launched ​ Imfinzi + BCG POTOMAC ​ PD-L1 mAb + BCG ​ ​ ​ non-muscle invasive bladder cancer ​ Accepted ​ Imfinzi + CRT KUNLUN ​ PD-L1 mAb + CRT ​ ​ ​ locally advanced ESCC ​ H2 2026 ​ Imfinzi + CRT PACIFIC-5 (China) ​ PD-L1 mAb + CRT ​ (PP) ​ locally advanced stage III NSCLC ​ Launched ​ Imfinzi + CTx +/- Lynparza DUO-E ​ PD-L1 mAb + CTx +/- PARP inhibitor ​ (PP) ​ 1L endometrial cancer ​ Launched ​ Imfinzi + CTx NIAGARA ​ PD-L1 mAb + CTx ​ ​ ​ muscle invasive bladder cancer (cis-eligible) ​ Launched ​ Imfinzi + domvanalimab following cCRT PACIFIC-8 ​ PD-L1 mAb + TIGIT following cCRT ​ (PP) ​ unresectable stage III NSCLC ​ >2027 ​ Imfinzi + EV +/- Imjudo VOLGA ​ PD-L1 mAb + nectin-4 targeting MMAE ADC +/- CTLA-4 mAb ​ ​ ​ muscle invasive bladder cancer (cis-ineligible/refusal) ​ H1 2026 ​ Imfinzi + FLOT MATTERHORN ​ PD-L1 mAb + CTx ​ (PP) ​ resectable early gastric cancer ​ Launched ​ Imfinzi + Imjudo + SoC NILE ​ PD-L1 mAb + CTLA-4 mAb + SoC ​ ​ ​ 1L urothelial cancer ​ H1 2026 ​ Imfinzi + Imjudo + TACE +/- lenvatinib EMERALD-3 ​ PD-L1 mAb + CTLA-4 mAb +/- chemoembolisation +VEGFi ​ ​ ​ locoregional HCC ​ H1 2026 ​ Imfinzi + SBRT PACIFIC-4 ​ PD-L1 mAb + SBRT ​ (PP) ​ stage I/II NSCLC ​ >2027 ​ Imfinzi + VEGF + TACE EMERALD-1 ​ PD-L1 mAb +VEGFi +TACE ​ ​ ​ locoregional HCC ​ Q4 2023 ​ Imfinzi +/- bevacizumab EMERALD-2 ​ PD-L1 mAb +/- VEGFi ​ ​ ​ adjuvant HCC ​ H2 2026 ​ Imfinzi +/- Imjudo + CTx POSEIDON ​ PD-L1 mAb +/- CTLA-4 mAb + CTx ​ ​ ​ 1L NSCLC ​ Launched ​ Imfinzi combinations BEGONIA ​ PD-L1 mAb + paclitaxel/novel oncology therapies ​ Phase II LCM ​ 1L TNBC ​ ​ ​ Imfinzi combinations HUDSON ​ PD-L1 mAb + novel oncology therapies ​ Phase II LCM ​ post-IO NSCLC ​ ​ ​ Imfinzi combinations NeoCOAST-2 ​ PD-L1 mAb + novel oncology therapies ​ (PP) Phase II LCM ​ resectable NSCLC ​ ​ ​ Lynparza MONO-OLA1 ​ PARP inhibitor ​ (PP) ​ 1L BRCAwt ovarian cancer ​ H2 2026 ​ Orpathys + Imfinzi SAMETA ​ METi + PD-L1 mAb ​ (PP) ​ 1L papillary renal cell carcinoma ​ H1 2026 ​ Tagrisso + Orpathys SAFFRON ​ EGFR TKI +METi ​ (PP) ​ advanced EGFRm NSCLC ​ H2 2026 ​ Tagrisso + Orpathys SAVANNAH ​ EGFR TKI +METi ​ (PP) Phase II LCM ​ advanced EGFRm NSCLC ​ ​ ​ Tagrisso +/- CTx NeoADAURA ​ EGFR TKI +/- CTx ​ ​ ​ neoadjuvant stage II/III resectable EGFRm NSCLC ​ Q4 2024 ​ Tagrisso ADAURA2 ​ EGFR TKI ​ ​ ​ EGFRm NSCLC stage Ia2-Ia3 following complete tumour resection ​ 2027 ​ Tagrisso combinations ORCHARD ​ EGFR TKI + multiple novel ONC therapies ​ (PP) Phase II LCM ​ 2L EGFRm osimertinib-resistant NSCLC ​ ​ ​ Truqap ​ AKT inhibitor ​ Phase II LCM ​ prostate cancer ​ ​ ​ Truqap + abiraterone CAPItello-281 ​ AKT inhibitor + NHA ​ ​ ​ PTEN deficient mHSPC ​ Accepted ​ Truqap + Faslodex + palbociclib CAPItello-292 ​ AKT inhibitor + SERD + CDK4/6i ​ ​ ​ 1L early relapse/ET resistant advanced HR+ breast cancer ​ 2027 ​ CVRM ​ ​ ​ ​ ​ ​ ​ ​ ​ Wainua ​ ligand-conjugated antisense ​ (PP) ​ patients with hereditary or wild-type transthyretin-mediated amyloid cardiomyopathy (ATTR CM) ​ H2 2026 ​ 17 ​ Compound ​ ​ ​ Mechanism ​ ​ ​ Additional Information ​ ​ ​ Area Under Investigation ​ ​ ​ Data readout/submission status ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Respiratory & Immunology ​ ​ ​ ​ ​ ​ ​ ​ ​ Breztri/Trixeo (PT010) KALOS LOGOS ​ LABA/LAMA/ICS ​ ​ asthma ​ Accepted ​ Breztri/Trixeo ATHLOS ​ LABA/LAMA/ICS ​ ​ COPD cardiopulmonary exercise test (CPET) trial ​ H1 2026 ​ Breztri/Trixeo THARROS ​ LABA/LAMA/ICS ​ (PP) ​ cardiopulmonary outcomes trial in COPD ​ >2027 ​ Fasenra MANDARA ​ IL-5R mAb ​ ​ eosinophilic granulomatosis with polyangiitis ​ Launched ​ Fasenra NATRON ​ IL-5R mAb ​ ​ hypereosinophilic syndrome ​ Accepted ​ Saphnelo DAISY ​ type I IFN receptor mAb ​ (PP) ​ systemic sclerosis ​ 2027 ​ Saphnelo IRIS ​ type I IFN receptor mAb ​ (PP) ​ lupus nephritis ​ 2027 ​ Saphnelo JASMINE ​ type I IFN receptor mAb ​ (PP) ​ myositis ​ 2027 ​ Saphnelo LAVENDER ​ type I IFN receptor mAb ​ (PP) ​ cutaneous lupus erythematosus ​ 2027 ​ Saphnelo TULIP-SC ​ type I IFN receptor mAb ​ (PP) ​ systemic lupus erythematosus (subcutaneous) ​ Launched ​ Tezspire CROSSING ​ TSLP mAb ​ (PP) ​ eosinophilic esophagitis ​ H2 2026 ​ Tezspire EMBARK, JOURNEY ​ TSLP mAb ​ (PP) ​ chronic obstructive pulmonary disease ​ >2027 ​ Tezspire WAYPOINT ​ TSLP mAb ​ (PP) ​ nasal polyps ​ Launched ​ Rare Disease ​ ​ ​ ​ ​ ​ ​ ​ ​ Koselugo KOMET ​ MEK inhibitor ​ (PP) ​ neurofibromatosis type 1 adult ​ Launched ​ Ultomiris ​ anti-complement C5 mAb ​ ​ ​ haematopoietic stem cell transplant– associated thrombotic microangiopathy ​ H1 2026 ​ Ultomiris ARTEMIS ​ anti-complement C5 mAb ​ ​ cardiac surgery-associated acute kidney injury ​ H2 2026 ​ Ultomiris AWAKE ​ anti-complement C5 mAb ​ ​ delayed graft function ​ >2027 ​ Ultomiris I CAN ​ anti-complement C5 mAb ​ ​ immunoglobulin A nephropathy ​ H1 2026 ​ ​ ​ 18 ​ Patent Expiries of Key Marketed Products as at February 10, 2026 Patents covering our products are routinely challenged by third parties. Generic products may be launched ‘at risk’ and our patents may be revoked, circumvented or found not to be infringed. Details of material challenges by third parties can be found in “Financial Statements—Notes to the Group Financial Statements—Note 30—Commitments, contingent liabilities and contingent assets” on pages 181 to 183 and of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026, and incorporated by reference. The expiry dates shown below include granted Supplementary Protection Certificate (“SPC”) and Patent Term Extension (“PTE”) and/or Paediatric Exclusivity periods (as appropriate). In Europe, the exact SPC situation may vary by country as different patent offices grant SPCs at different rates. The expiry dates of relevant regulatory data exclusivity periods are not represented in the table below. A number of our products are subject to generic competition in one or more markets. There may be agreements permitting generic or biosimilar entry prior to the expiry dates shown below. Bolded expiry dates relate to new molecular entity patents. The remaining dates relate to other patents. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Product ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US ​ Sales Ex-US ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product Sales $m ​ $m Key marketed products ​ ​ ​ Description ​ ​ ​ US ​ ​ ​ China ​ ​ ​ EU1 ​ ​ ​ Japan ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Oncology ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Calquence (acalabrutinib) A selective inhibitor of Bruton’s tyrosine kinase indicated for the treatment of chronic lymphocytic leukaemia (CLL) and mantle cell lymphoma (MCL) and in development for the treatment of multiple B-cell malignancies. 2026-2032, 2032-2036 2032, 2036 2032-2035, 20352-2036 ​ 2037, 2036 2,339 2,190 1,815 1,179 939 699 Datroway 3 (datopotamab deruxtecan) A TROP2-directed antibody drug conjugate (ADC) indicated for patients with previously treated metastatic HR-positive, HER2-negative breast cancer and for patients with previously treated advanced epidermal growth factor receptor mutated (EGFRm) non-small cell lung cancer (NSCLC). 2034 2034 ​ 2034 ​ 4​ — ​ — — 2 — — Enhertu 5 (trastuzumab deruxtecan) A HER2-directed ADC indicated for HER2- positive, HER2-low and HER2-ultralow advanced breast cancers, for HER2- mutant metastatic NSCLC, and for HER2-positive advanced gastric cancer. Also indicated for metastic HER2-positive solid tumours (tumour agnostic). 2033, 2035 2033-2035 2033-2035 ​ 4​ — — — ​ 977 545 261 Imfinzi (durvalumab) A human monoclonal antibody (mAb) that blocks PD-1 and CD80 on T-cells indicated for unresectable, Stage III NSCLC; resectable NSCLC in combination with neoadjuvant chemotherapy; metastatic NSCLC in combination with Imjudo and chemotherapy; extensive-stage small cell lung cancer (SCLC) in combination with chemotherapy; limited-stage SCLC; advanced biliary tract cancer (BTC) in combination with chemotherapy; unresectable hepatocellular carcinoma (uHCC) in combination with Imjudo; in a perioperative regimen with FLOT chemotherapy in resectable, early-stage and locally advanced gastric and gastroesophageal junction (GEJ) cancers; endometrial cancer in combination with Lynparza and chemotherapy; and for muscle-invasive bladder cancer (MIBC). 2031 2030 2030 2033 3,509 2,603 2,171 2,554 2,114 1,848 Imjudo 6 (tremelimumab) ​ A cytotoxic T-lymphocyte-associated antigen 4 blocking antibody indicated for uHCC in combination with Imfinzi and for NSCLC in combination with Imfinzi and chemotherapy. ​ 2034 ​ 2026 ​ 2026 ​ 2031 ​ 227 ​ 180 ​ 146 ​ 119 ​ 101 ​ 72 Lynparza 7 (olaparib) ​ An oral poly (ADP-ribose) polymerase (PARP) inhibitor indicated for platinum-sensitive relapsed ovarian cancer, for 1st-line BRCA-mutated (BRCAm) ovarian cancers, for homologous recombination repair deficient (HRD)-positive advanced ovarian cancer in combination with bevacizumab, for gBRCAm, HER2- negative early and metastatic breast cancers, for gBRCAm metastatic pancreatic cancer, for HRR gene-mutated and BRCAm metastatic castration-resistant prostate cancers (mCRPC), for 1st-line mCRPC in combination with abiraterone, and as maintenance treatment after treatment with platinum-based chemotherapy in combination with Imfinzi in advanced or recurrent mismatch repair proficient (pMMR) endometrial cancer. ​ 2027, 2027-2041 ​ 2027-2029 ​ 2029, 2027-2029 ​ 2029, 2027-2034 ​ 1,434 ​ 1,332 ​ 1,254 ​ 1,845 ​ 1,740 ​ 1,557 Tagrisso (osimertinib) ​ An EGFR-TKI indicated for early- and late-stage EGFRm NSCLC. ​ 2032, 2035 ​ 20328, 2035 8​ 2032, 2035 ​ 2034, 2035 ​ 3,064 ​ 2,763 ​ 2,276 ​ 4,190 ​ 3,817 ​ 3,523 Truqap (capivasertib) ​ A first-in-class, potent, adenosine triphosphate (ATP)-competitive inhibitor approved in combination with Faslodex for HR-positive, HER2-negative advanced breast cancer with certain gene alterations. ​ 2028-2030, 2025-2033 ​ 2028, 2033 ​ 2028, 2025-2033 ​ 2033 ​ 586 ​ 408 ​ 6 ​ 142 ​ 22 ​ — CVRM ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Brilinta/Brilique (ticagrelor) An oral P2Y12 platelet inhibitor for acute coronary syndromes (ACS) (ticagrelor 90mg) or continuation therapy in high-risk patients (ticagrelor 60mg) with a history of myocardial infarction (MI). An oral P2Y12 platelet inhibitor for the prevention of atherothrombotic events in adult patients with ACS or high-risk patients with history of MI, high-risk patients with coronary artery disease or stroke. 2025, 2030-2036 2037 2025, 2037 2025-2030 393 751 744 430 582 580 Farxiga/Forxiga9 (dapagliflozin) ​ A sodium-glucose cotransporter 2 (SGLT- 2 inhibitor) indicated for adult patients with type-2 diabetes (T2D) or in adults with or without T2D with heart failure with reduced ejection fraction or chronic kidney disease (CKD). Approved in the US to improve glycaemic control in paediatric patients with T2D aged 10 years and older. ​ 2026, 2025-2041 ​ 20278, 20288, 20408, 2041 ​ 2028, 2027, 20282, 2041 ​ 2025, 2028-2040 ​ 1,730 ​ 1,750 ​ 1,451 ​ 6,670 ​ 5,906 ​ 4,512 Xigduo/ Xigduo XR 10 (dapagliflozin/ metformin) Combines dapagliflozin and metformin as either Xigduo – to improve glycaemic control in adults with T2D who are inadequately controlled on metformin alone, or Xigduo XR– an extended release tablet for adults with T2D who are inadequately controlled on metformin alone. 2026, 2027-2031 ​ 2027, 2030 ​ 2028, 20272, 2030 ​ 2025, 2027-2030 ​ — — — — — — Lokelma (sodium zirconium cyclosilicate) An insoluble, non-absorbed sodium zirconium cyclosilicate, formulated as a powder for oral suspension, that acts as a highly selective potassium-removing agent for the treatment of hyperkalaemia. 2032-2035 2033 8​ 2032 2035-2037 301 256 214 397 286 198 Roxadustat 11 An oral hypoxia-inducible factor prolyl hydroxylase inhibitor indicated for the treatment of anaemia from CKD. ​ 4​ 2033 8​ ​ 4​ ​ 4​ — ​ — ​ — ​ 274 ​ 331 ​ 271 Wainua/ Wainzua (eplontersen) ​ Wainua injection, for subcutaneous use, is a prescription medicine used to treat adults with stage one or two polyneuropathy of hereditary transthyretin-mediated amyloidosis. ​ 2025-2034 ​ 2034-2035 ​ 2034 ​ 2034 ​ 204 ​ 85 ​ — ​ 8 ​ — ​ — ​ ​ 19 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Product ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US ​ Sales Ex-US ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product Sales ($m) ​ ($m) Key marketed products ​ ​ ​ Description ​ ​ ​ US ​ ​ ​ China ​ ​ ​ EU1 ​ ​ ​ Japan ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Respiratory & Immunology ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Airsupra (albuterol/ budesonide) A first-in-class, fixed-dose combination rescue medication for asthma in the US containing a short-acting beta2-agonist (SABA) and an anti-inflammatory inhaled corticosteroid (ICS), for the as-needed treatment or prevention of bronchoconstriction and to reduce the risk of exacerbations, developed in a pressurised metered-dose inhaler (pMDI) using AstraZeneca’s Aerosphere delivery technology. 2030 2030 ​ ​ 2030 162 66 — ​ 4 — — Breztri/Trixeo Aerosphere (budesonide/ glycopyrrolate/ formoterol) A fixed-dose triple combination of an ICS, a long-acting muscarinic antagonist (LAMA) and a long-acting beta2-agonist (LABA) delivered in an Aerosphere pMDI, used for the long-term maintenance treatment of chronic obstructive pulmonary disease (COPD). 2030-2038 2030-2038 ​ 2030-2038 ​ 2030-2038 614 516 383 585 462 294 Fasenra (benralizumab) A mAb which directly targets and depletes eosinophils by recruiting natural killer cells and inducing apoptosis (programmed cell death). Approved as an add-on maintenance treatment for severe eosinophilic asthma and for eosinophilic granulomatosis with polyangiitis (EGPA). 2028-2034 2028 2025, 2028-2034 ​ 2025, 2034 ​ 1,195 1,049 992 786 640 561 Saphnelo (anifrolumab) A first-in-class fully human mAb for moderate to severe systemic lupus erythematosus (SLE) that binds to subunit 1 of the type I IFN receptor, blocking the activity of type I IFNs. Type I IFNs such as IFN-alpha, IFN-beta and IFN-kappa are cytokines involved in driving the inflammatory pathways implicated in SLE. 2025-2029, 2033-2036 2025-2029 2025-2029 2036-2042 2​ 2030-2034, 2033-2036 596 425 260 90 49 20 Symbicort (budesonide/ formoterol) A combination of an ICS and a fast-onset LABA to treat asthma and/or COPD, either as Symbicort Turbuhaler or Symbicort pMDI. 2025-2029 12 expired expired ​ expired ​ 1,193 1,187 726 1,692 1,692 1,636 Tezspire 13 (tezepelumab) A first-in-class human mAb that inhibits the action of thymic stomal lymphopoietin, a key epithelial cytokine that sits at the top of multiple inflammatory cascades and is critical in the initiation and persistence of allergic, eosinophilic and other types of epithelial inflammation associated with severe asthma, chronic rhinosinusitis with nasal polyps (CRSwNP). Approved for a broad population of severe asthma patients, without phenotype and biomarker limitation, and for CRSwNP. Developed in collaboration with Amgen Inc. (Amgen). 203314, 2038 2028 2028 ​ 2028, 2038 ​ — — — 458 248 86 Vaccines & Immune Therapies ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beyfortus 15 (nirsevimab) A long-acting anti-RSV F mAb used to prevent RSV lower respiratory tract disease in neonates and infants during their first RSV season. Jointly developed and commercialised with Sanofi. 2028-2035, 2038-2040 2038 ​ 2035 ​ 2035, 2038 184 232 87 97 86 19 FluMist (live attenuated influenza vaccine) ​ A live attenuated vaccine indicated for active immunisation for the prevention of influenza disease caused by influenza A subtype viruses and type B viruses contained in the vaccine. ​ 2025-2026 ​ 2025 ​ 2025 ​ 2025 16​ 28 ​ 28 ​ 23 ​ 244 ​ 230 ​ 193 ​ ​ 20 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Aggregate Product ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ US ​ Sales Ex-US ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Product Sales ($m) ​ ($m) Key marketed products ​ ​ ​ Description ​ ​ ​ US ​ ​ ​ China ​ ​ ​ EU1 ​ ​ ​ Japan ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Rare Disease ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Koselugo 17 (selumetinib) ​ A kinase inhibitor that blocks specific enzymes (MEK1 and MEK2) for the treatment of patients with neurofibromatosis type 1 who have symptomatic, inoperable plexiform neurofibromas. ​ 2028, 2026-2029 ​ 2026-2029 ​ 2029-2031 ​ 2029-2031 ​ 219 ​ 212 ​ 195 ​ 443 ​ 319 ​ 136 Soliris (eculizumab) ​ A C5 complement inhibitor for the treatment of paroxysmal nocturnal haemoglobinuria (PNH), atypical haemolytic uraemic syndrome (aHUS), generalised myasthenia gravis (gMG) and neuromyelitis optica spectrum disorder (NMOSD). ​ 202718, 2025-2032 ​ 2029 ​ 202719, 2029 ​ 2032, 2029 ​ 1,092 ​ 1,523 ​ 1,734 ​ 745 ​ 1,065 ​ 1,411 Strensiq (asfotase alfa) A targeted enzyme replacement therapy for patients with hypophosphatasia. 2025-2029, 2035-2038 ​ ​ 2025-2031, 2036 2028, 2035-2036 ​ 1,332 1,167 937 346 249 215 Ultomiris (ravulizumab) ​ A long-acting C5 complement inhibitor for the treatment of PNH, aHUS, gMG and NMOSD. ​ 2035, 2038-2041 ​ 2035, 2038 ​ 2035, 2038-2040 ​ 2038, 2038-2039 ​ 2,667 ​ 2,261 ​ 1,750 ​ 2,051 ​ 1,663 ​ 1,251 Voydeya 20 (danicopan) A first-in-class oral, Factor D complement inhibitor for certain adults with PNH as add-on therapy to ravulizumab or eculizumab. 2035, 2038 2035 2035 2035 — — — — — — Notes Crestor, Nexium, Pulmicort, Seloken, Synagis and Zoladex are key marketed products which have lost patent protection in all major markets. 1 Expiry in major EU markets, which includes the UK. 2 The patent is the subject of a pending opposition proceeding at the European Patent Office (EPO). 3 AstraZeneca does not have commercialisation rights. 4 AstraZeneca has recorded $77 million of Alliance Revenue in relation to Datroway in 2025 (2024: $nil; 2023: $nil), as per the “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on pages 140 to 141 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. 5 AstraZeneca has recorded $1,798 million of Alliance Revenue in relation to Enhertu in 2025 (2024: $1,437 million; 2023: $1,022 million), as per the “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on pages 140 to 141 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. 6 Prior to 2024, Imjudo Product Sales were included in the Imfinzi Product Sales figure within the “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on pages 140 to 141 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. 7 In addition to any Product Sales, AstraZeneca has also recorded $nil of Collaboration Revenue in relation to Lynparza in 2025 (2024: $600 million; 2023: $245 million), as per the “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on pages 140 to 141 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. 8 The patent is the subject of one or more proceedings on its validity. 9 AstraZeneca has recorded $87 million of Collaboration Revenue in relation to Farxiga/Forxiga in 2025 (2024: $56 million; 2023: $29 million), as per the “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on pages 140 to 141 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. 10 Xigduo/Xigduo XR revenues are combined with Farxiga/Forxiga. 11 AstraZeneca has recorded $2 million of Alliance Revenue in relation to roxadustat in 2025 (2024: $6 million; 2023: $5 million), as per the “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on pages 140 to 141 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. 12 Patent expiry information relates to the Symbicort pMDI product, including any granted Paediatric Exclusivity term. 13 AstraZeneca has recorded $673 million of Alliance Revenue in relation to Tezspire in 2025 (2024: $436 million; 2023: $259 million), as per the “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on pages 140 to 141 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. 14 Date does not include patent term adjustment. 15 AstraZeneca has recorded $422 million of Alliance Revenue in relation to Beyfortus in 2025 (2024: $237 million; 2023: $57 million) and $nil of Collaboration Revenue in 2025 (2024: $167 million; 2023: $98 million), as per the “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on pages 140 to 141 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. 16 Rights licensed to Daiichi Sankyo, Inc. 17 In addition to any Product Sales, AstraZeneca has also recorded $nil of Collaboration Revenue in relation to Koselugo in 2025 (2024: $100 million; 2023: $nil), as per the “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on pages 140 to 141 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. 18 Settled with Amgen and Samsung Bioepis for licensed biosimilar entry date of 1 March 2025. 19 Settled with Amgen for licensed biosimilar entry date of November 2025. 20 Voydeya revenues are combined with Ultomiris. ​ 21 ​ Geographical Review This section Item 4—“Information on the Company—Business Overview—Geographical Review” should be read in conjunction with Item 5—“Operating and Financial Review and Prospects—Operating Results” below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ World ​ ​ ​ US ​ Emerging Markets ​ ​ ​ Europe ​ ​ ​ Established ROW ​ ​ ​ ​ Sales ​ ​ ​ Actual ​ CER ​ Sales ​ Actual ​ Sales ​ Actual ​ CER ​ Sales ​ Actual ​ CER ​ Sales ​ Actual ​ CER 2025 ​ $m ​ ​ ​ % ​ ​ ​ % ​ ​ ​ $m ​ ​ ​ % ​ ​ ​ $m ​ ​ ​ % ​ ​ ​ % ​ ​ ​ $m ​ ​ ​ % ​ ​ ​ % ​ ​ ​ $m ​ ​ ​ % ​ ​ ​ % Oncology: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tagrisso 7,254 ​ 10 ​ 10 ​ 3,064 ​ 11 ​ 1,971 ​ 12 ​ 14 ​ 1,423 ​ 9 ​ 6 ​ 796 ​ 5 ​ 5 Imfinzi 6,063 ​ 29 ​ 28 ​ 3,509 ​ 35 ​ 640 ​ 34 ​ 38 ​ 1,239 ​ 31 ​ 26 ​ 675 ​ (2) ​ (2) Calquence 3,518 ​ 12 ​ 12 ​ 2,339 ​ 7 ​ 233 ​ 52 ​ 54 ​ 784 ​ 20 ​ 15 ​ 162 ​ 25 ​ 27 Lynparza 3,279 ​ 7 ​ 6 ​ 1,434 ​ 8 ​ 669 ​ 2 ​ 1 ​ 914 ​ 10 ​ 6 ​ 262 ​ 3 ​ 4 Enhertu 977 ​ 79 ​ 81 ​ — ​ — ​ 668 ​ 91 ​ 95 ​ 207 ​ 64 ​ 58 ​ 102 ​ 47 ​ 51 Zoladex ​ 1,106 ​ 5 ​ 6 ​ 19 ​ 17 ​ 842 ​ 6 ​ 8 ​ 157 ​ 6 ​ 3 ​ 88 ​ (11) ​ (10) Truqap 728 ​ 69 ​ 68 ​ 586 ​ 44 ​ 23 ​ n/m ​ n/m ​ 85 ​ n/m ​ n/m ​ 34 ​ n/m ​ n/m Imjudo 346 ​ 23 ​ 23 ​ 227 ​ 26 ​ 22 ​ 40 ​ 43 ​ 52 ​ 43 ​ 38 ​ 45 ​ (9) ​ (9) Datroway 2 ​ n/m ​ n/m ​ — ​ n/m ​ 2 ​ n/m ​ n/m ​ — ​ n/m ​ n/m ​ — ​ n/m ​ n/m Others 425 ​ (8) ​ (8) ​ 9 ​ (52) ​ 280 ​ (6) ​ (4) ​ 19 ​ (17) ​ (19) ​ 117 ​ (6) ​ (7) Total Oncology 23,698 ​ 17 ​ 16 ​ 11,187 ​ 18 ​ 5,350 ​ 19 ​ 21 ​ 4,880 ​ 20 ​ 15 ​ 2,281 ​ 5 ​ 5 BioPharmaceuticals: CVRM ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Farxiga ​ 8,400 ​ 10 ​ 9 ​ 1,730 ​ (1) ​ 3,324 ​ 17 ​ 18 ​ 2,941 ​ 12 ​ 8 ​ 405 ​ (3) ​ (3) Crestor 1,216 ​ 5 ​ 6 ​ 45 ​ (3) ​ 1,041 ​ 11 ​ 12 ​ 1 ​ (97) ​ (97) ​ 129 ​ (5) ​ (5) Brilinta ​ 823 ​ (38) ​ (38) ​ 393 ​ (48) ​ 273 ​ (7) ​ (7) ​ 147 ​ (45) ​ (46) ​ 10 ​ (51) ​ (48) Lokelma 698 ​ 29 ​ 28 ​ 301 ​ 18 ​ 129 ​ 50 ​ 52 ​ 129 ​ 39 ​ 34 ​ 139 ​ 29 ​ 28 Seloken 607 ​ — ​ 2 ​ — ​ — ​ 586 ​ (1) ​ 1 ​ 18 ​ 43 ​ 43 ​ 3 ​ 1 ​ 14 Roxadustat 274 ​ (17) ​ (17) ​ — ​ — ​ 274 ​ (17) ​ (17) ​ — ​ — ​ — ​ — ​ — ​ — Wainua 212 ​ n/m ​ n/m ​ 204 ​ n/m ​ 4 ​ n/m ​ n/m ​ 4 ​ n/m ​ n/m ​ — ​ — ​ — Others 534 ​ (28) ​ (28) ​ 49 ​ (74) ​ 262 ​ 4 ​ 5 ​ 158 ​ (30) ​ (32) ​ 65 ​ (17) ​ (17) Total CVRM 12,764 ​ 3 ​ 2 ​ 2,722 ​ (11) ​ 5,893 ​ 10 ​ 12 ​ 3,398 ​ 4 ​ — ​ 751 ​ (2) ​ (2) BioPharmaceuticals: Respiratory & Immunology ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Symbicort 2,885 ​ — ​ — ​ 1,193 ​ 1 ​ 801 ​ (1) ​ 1 ​ 560 ​ — ​ (3) ​ 331 ​ 1 ​ 3 Fasenra 1,981 ​ 17 ​ 16 ​ 1,195 ​ 14 ​ 117 ​ 27 ​ 29 ​ 482 ​ 19 ​ 15 ​ 187 ​ 29 ​ 30 Breztri 1,199 ​ 23 ​ 22 ​ 614 ​ 19 ​ 298 ​ 22 ​ 22 ​ 191 ​ 33 ​ 29 ​ 96 ​ 30 ​ 30 Tezspire ​ 458 ​ 85 ​ 80 ​ — ​ — ​ 40 ​ n/m ​ n/m ​ 297 ​ 90 ​ 83 ​ 121 ​ 51 ​ 51 Saphnelo 686 ​ 45 ​ 44 ​ 596 ​ 40 ​ 16 ​ n/m ​ n/m ​ 49 ​ 89 ​ 81 ​ 25 ​ 52 ​ 52 Pulmicort 518 ​ (24) ​ (24) ​ 5 ​ (21) ​ 414 ​ (27) ​ (27) ​ 63 ​ (12) ​ (15) ​ 36 ​ (1) ​ 1 Airsupra 166 ​ n/m ​ n/m ​ 162 ​ n/m ​ 4 ​ n/m ​ n/m ​ — ​ — ​ — ​ — ​ — ​ — Others ​ 274 ​ (31) ​ (32) ​ 75 ​ (55) ​ 133 ​ (21) ​ (21) ​ 59 ​ 2 ​ — ​ 7 ​ (5) ​ (2) Total Respiratory & Immunology 8,167 ​ 10 ​ 10 ​ 3,840 ​ 12 ​ 1,823 ​ (4) ​ (3) ​ 1,701 ​ 20 ​ 16 ​ 803 ​ 17 ​ 18 BioPharmaceuticals: Vaccines & Immune Therapies ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beyfortus 281 ​ (12) ​ (12) ​ 184 ​ (21) ​ — ​ — ​ — ​ 94 ​ 12 ​ 12 ​ 3 ​ 58 ​ 53 Synagis 292 ​ (35) ​ (34) ​ (3) ​ (57) ​ 214 ​ 2 ​ 4 ​ 50 ​ (56) ​ (57) ​ 31 ​ (76) ​ (76) FluMist 272 ​ 6 ​ 3 ​ 28 ​ 1 ​ 5 ​ n/m ​ n/m ​ 210 ​ 3 ​ (1) ​ 29 ​ 19 ​ 19 Others 1 ​ (96) ​ (96) ​ — ​ n/m ​ 1 ​ (45) ​ (48) ​ — ​ n/m ​ n/m ​ — ​ n/m ​ n/m Total Vaccines & Immune Therapies 846 ​ (20) ​ (20) ​ 209 ​ (26) ​ 220 ​ 3 ​ 5 ​ 354 ​ (13) ​ (15) ​ 63 ​ (60) ​ (60) Rare Disease: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ultomiris ​ 4,718 ​ 20 ​ 19 ​ 2,667 ​ 18 ​ 261 ​ 84 ​ 90 ​ 1,053 ​ 19 ​ 15 ​ 737 ​ 16 ​ 15 Soliris 1,837 ​ (29) ​ (28) ​ 1,092 ​ (28) ​ 405 ​ (9) ​ (1) ​ 200 ​ (52) ​ (53) ​ 140 ​ (32) ​ (31) Strensiq ​ 1,678 ​ 19 ​ 18 ​ 1,332 ​ 14 ​ 104 ​ 94 ​ 84 ​ 123 ​ 25 ​ 21 ​ 119 ​ 23 ​ 23 Koselugo 662 ​ 25 ​ 22 ​ 219 ​ 3 ​ 228 ​ 29 ​ 25 ​ 161 ​ 57 ​ 51 ​ 54 ​ 38 ​ 38 Others 231 ​ 11 ​ 10 ​ 113 ​ 14 ​ 40 ​ 16 ​ 18 ​ 67 ​ 1 ​ (2) ​ 11 ​ 23 ​ 23 Total Rare Disease 9,126 ​ 5 ​ 5 ​ 5,423 ​ 3 ​ 1,038 ​ 22 ​ 26 ​ 1,604 ​ 2 ​ (1) ​ 1,061 ​ 7 ​ 7 Other medicines ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nexium 816 ​ (6) ​ (5) ​ 67 ​ (30) ​ 611 ​ 3 ​ 5 ​ 50 ​ (18) ​ (20) ​ 88 ​ (26) ​ (26) Others 156 ​ (24) ​ (24) ​ (4) ​ n/m ​ 121 ​ (16) ​ (15) ​ 34 ​ (21) ​ (21) ​ 5 ​ 18 ​ 17 Total Other medicines 972 ​ (9) ​ (8) ​ 63 ​ (43) ​ 732 ​ — ​ 1 ​ 84 ​ (19) ​ (20) ​ 93 ​ (25) ​ (24) Total Product Sales ​ 55,573 ​ 9 ​ 9 ​ 23,444 ​ 8 ​ 15,056 ​ 11 ​ 13 ​ 12,021 ​ 11 ​ 7 ​ 5,052 ​ 3 ​ 3 ​ 22 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ World ​ US ​ Emerging Markets ​ Europe ​ Established ROW ​ ​ ​ ​ Sales ​ ​ ​ Actual ​ ​ ​ CER ​ ​ ​ Sales ​ ​ ​ Actual ​ ​ ​ Sales ​ ​ ​ Actual ​ ​ ​ CER ​ ​ ​ Sales ​ ​ ​ Actual ​ ​ ​ CER ​ ​ ​ Sales ​ ​ ​ Actual ​ ​ ​ CER 2024 ​ $m % % ​ $m % ​ $m % % ​ $m % % ​ $m % % Oncology: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tagrisso ​ 6,580 13 16 ​ 2,763 21 ​ 1,755 8 16 ​ 1,301 16 15 ​ 761 (3) 4 Imfinzi ​ 4,717 17 21 ​ 2,603 20 ​ 479 35 59 ​ 948 28 27 ​ 687 (8) (2) Calquence ​ 3,129 24 25 ​ 2,190 21 ​ 153 56 79 ​ 656 33 32 ​ 130 20 22 Lynparza ​ 3,072 9 11 ​ 1,332 6 ​ 655 21 30 ​ 832 13 12 ​ 253 (10) (5) Enhertu ​ 545 n/m n/m ​ — — ​ 350 n/m n/m ​ 126 n/m n/m ​ 69 n/m n/m Zoladex ​ 1,058 11 17 ​ 16 14 ​ 795 16 23 ​ 148 12 10 ​ 99 (16) (12) Imjudo ​ 281 29 31 ​ 180 23 ​ 16 n/m n/m ​ 36 n/m n/m ​ 49 (5) 2 Truqap ​ 430 n/m n/m ​ 408 n/m ​ 2 n/m n/m ​ 12 n/m n/m ​ 8 n/m n/m Orpathys ​ 44 (1) 1 ​ — — ​ 44 (1) 1 ​ — — — ​ — — — Others ​ 419 (19) (14) ​ 18 (51) ​ 253 (18) (12) ​ 23 (30) (30) ​ 125 (13) (6) Total Oncology ​ 20,275 18 21 ​ 9,510 23 ​ 4,502 18 28 ​ 4,082 23 22 ​ 2,181 (4) 2 BioPharmaceuticals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CVRM ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Farxiga ​ 7,656 28 31 ​ 1,750 21 ​ 2,853 29 35 ​ 2,634 40 39 ​ 419 — 6 Brilinta ​ 1,333 1 2 ​ 751 1 ​ 294 3 10 ​ 268 (1) (2) ​ 20 (17) (16) Crestor ​ 1,153 4 8 ​ 46 (16) ​ 934 8 12 ​ 37 (29) (30) ​ 136 (2) 5 Seloken/Toprol-XL ​ 605 (5) — ​ — (42) ​ 589 (5) — ​ 13 13 12 ​ 3 (53) (44) Lokelma ​ 542 32 34 ​ 256 20 ​ 86 73 79 ​ 92 59 58 ​ 108 20 29 Roxadustat ​ 331 22 24 ​ — — ​ 331 22 24 ​ — — — ​ — — — Andexxa ​ 219 20 22 ​ 81 7 ​ 3 n/m n/m ​ 80 30 28 ​ 55 22 31 Wainua ​ 85 n/m n/m ​ 85 n/m ​ — — — ​ — — — ​ — — — Others ​ 524 (24) (22) ​ 106 (50) ​ 249 (13) (9) ​ 146 (13) (12) ​ 23 18 20 Total CVRM ​ 12,448 18 20 ​ 3,075 12 ​ 5,339 16 22 ​ 3,270 31 30 ​ 764 3 9 BioPharmaceuticals: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Respiratory & Immunology ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Symbicort ​ 2,879 22 25 ​ 1,187 63 ​ 805 7 16 ​ 559 2 1 ​ 328 (2) — Fasenra ​ 1,689 9 9 ​ 1,049 6 ​ 92 44 55 ​ 404 14 13 ​ 144 1 6 Pulmicort ​ 682 (4) (1) ​ 6 (77) ​ 568 (1) 3 ​ 71 5 3 ​ 37 (12) (10) Breztri ​ 978 44 46 ​ 516 35 ​ 245 52 57 ​ 143 78 77 ​ 74 41 47 Tezspire ​ 248 n/m n/m ​ — — ​ 11 n/m n/m ​ 156 n/m n/m ​ 81 n/m n/m Saphnelo ​ 474 69 70 ​ 425 63 ​ 7 n/m n/m ​ 26 n/m n/m ​ 16 69 80 Airsupra ​ 66 n/m n/m ​ 66 n/m ​ — — — ​ — — — ​ — — — Others ​ 400 (8) (7) ​ 167 7 ​ 169 (21) (20) ​ 57 5 4 ​ 7 (8) (4) Total Respiratory & Immunology ​ 7,416 21 23 ​ 3,416 34 ​ 1,897 7 13 ​ 1,416 22 21 ​ 687 10 14 BioPharmaceuticals: Vaccines & Immune Therapies ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Synagis ​ 447 (18) (14) ​ (8) n/m ​ 210 8 17 ​ 116 (34) (35) ​ 129 (27) (22) Beyfortus ​ 318 n/m n/m ​ 232 n/m ​ — n/m n/m ​ 84 n/m n/m ​ 2 n/m n/m FluMist ​ 258 19 15 ​ 28 19 ​ 1 28 30 ​ 204 8 4 ​ 25 n/m n/m COVID-19 mAbs ​ 31 (76) (76) ​ 28 n/m ​ — n/m n/m ​ 3 (74) (75) ​ — n/m n/m Others ​ 4 (68) (68) ​ — — ​ 2 (82) (82) ​ 2 10 14 ​ — n/m n/m Total Vaccines & Immune Therapies ​ 1,058 5 6 ​ 280 n/m ​ 213 1 9 ​ 409 3 1 ​ 156 (47) (44) Rare Disease: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Ultomiris ​ 3,924 32 34 ​ 2,261 29 ​ 141 n/m n/m ​ 884 32 31 ​ 638 34 43 Soliris ​ 2,588 (18) (14) ​ 1,523 (12) ​ 443 4 34 ​ 416 (38) (38) ​ 206 (35) (32) Strensiq ​ 1,416 23 24 ​ 1,167 25 ​ 54 33 43 ​ 99 11 10 ​ 96 12 18 Koselugo ​ 531 60 66 ​ 212 9 ​ 177 n/m n/m ​ 103 93 92 ​ 39 62 73 Kanuma ​ 209 22 24 ​ 100 17 ​ 34 19 28 ​ 66 35 35 ​ 9 11 15 Total Rare Disease ​ 8,668 12 14 ​ 5,263 12 ​ 849 36 63 ​ 1,568 3 2 ​ 988 8 15 Other medicines ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nexium ​ 867 (8) (2) ​ 96 (16) ​ 591 2 11 ​ 60 13 11 ​ 120 (40) (36) Others ​ 206 (11) (9) ​ 15 (20) ​ 144 (6) (4) ​ 43 (17) (17) ​ 4 (44) (41) Total Other medicines ​ 1,073 (9) (4) ​ 111 (17) ​ 735 1 8 ​ 103 (2) (3) ​ 124 (40) (36) Total Product Sales ​ 50,938 16 19 ​ 21,655 21 ​ 13,535 15 23 ​ 10,848 20 19 ​ 4,900 (3) 3 ​ ​ 23 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ World ​ ​ ​ US ​ Emerging Markets ​ ​ ​ Europe ​ ​ ​ Established ROW ​ ​ ​ ​ Sales ​ ​ ​ Actual ​ CER ​ Sales ​ Actual ​ Sales ​ Actual ​ CER ​ Sales ​ Actual ​ CER ​ Sales ​ Actual ​ CER 2023 ​ $m ​ ​ ​ % ​ ​ ​ % ​ ​ ​ $m ​ ​ ​ % ​ ​ ​ $m ​ ​ ​ % ​ ​ ​ % ​ ​ ​ $m ​ ​ ​ % ​ ​ ​ % ​ ​ ​ $m ​ ​ ​ % ​ ​ ​ % Oncology: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Tagrisso 5,799 ​ 7 ​ 9 ​ 2,276 ​ 13 ​ 1,621 ​ 3 ​ 10 ​ 1,120 ​ 10 ​ 8 ​ 782 ​ (8) ​ (1) Imfinzi1 4,237 ​ 52 ​ 55 ​ 2,317 ​ 49 ​ 360 ​ 25 ​ 39 ​ 758 ​ 39 ​ 36 ​ 802 ​ n/m ​ n/m Lynparza 2,811 ​ 7 ​ 9 ​ 1,254 ​ 2 ​ 542 ​ 11 ​ 21 ​ 734 ​ 12 ​ 10 ​ 281 ​ 5 ​ 12 Calquence 2,514 ​ 22 ​ 23 ​ 1,815 ​ 10 ​ 98 ​ n/m ​ n/m ​ 493 ​ 72 ​ 69 ​ 108 ​ 58 ​ 65 Enhertu 261 ​ n/m ​ n/m ​ — ​ — ​ 169 ​ n/m ​ n/m ​ 60 ​ n/m ​ n/m ​ 32 ​ n/m ​ n/m Orpathys 44 ​ 34 ​ 42 ​ — ​ — ​ 44 ​ 34 ​ 42 ​ — ​ — ​ — ​ — ​ — ​ — Truqap 6 ​ n/m ​ n/m ​ 6 ​ n/m ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — ​ — Zoladex 952 ​ 3 ​ 9 ​ 14 ​ (4) ​ 687 ​ 5 ​ 12 ​ 133 ​ — ​ (1) ​ 118 ​ (4) ​ 2 Faslodex 297 ​ (11) ​ (6) ​ 31 ​ 87 ​ 142 ​ (11) ​ (6) ​ 28 ​ (49) ​ (50) ​ 96 ​ (7) ​ 1 Others 224 ​ (33) ​ (30) ​ 6 ​ (44) ​ 165 ​ (34) ​ (31) ​ 6 ​ (42) ​ (41) ​ 47 ​ (28) ​ (23) Total Oncology 17,145 ​ 17 ​ 20 ​ 7,719 ​ 19 ​ 3,828 ​ 8 ​ 16 ​ 3,332 ​ 22 ​ 20 ​ 2,266 ​ 20 ​ 29 BioPharmaceuticals: CVRM ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Farxiga 5,963 ​ 36 ​ 39 ​ 1,451 ​ 35 ​ 2,211 ​ 33 ​ 40 ​ 1,881 ​ 45 ​ 42 ​ 420 ​ 21 ​ 30 Brilinta 1,324 ​ (2) ​ (1) ​ 744 ​ — ​ 285 ​ — ​ 10 ​ 271 ​ (4) ​ (5) ​ 24 ​ (49) ​ (47) Lokelma 412 ​ 43 ​ 46 ​ 214 ​ 26 ​ 50 ​ n/m ​ n/m ​ 58 ​ 94 ​ 91 ​ 90 ​ 32 ​ 42 Roxadustat 271 ​ 38 ​ 45 ​ — ​ — ​ 271 ​ 38 ​ 45 ​ — ​ — ​ — ​ — ​ — ​ — Andexxa 182 ​ 21 ​ 23 ​ 75 ​ (2) ​ — ​ — ​ — ​ 62 ​ 50 ​ 47 ​ 45 ​ 39 ​ 50 Crestor 1,107 ​ 6 ​ 11 ​ 55 ​ (16) ​ 862 ​ 9 ​ 15 ​ 52 ​ 26 ​ 25 ​ 138 ​ (7) ​ — Seloken/Toprol-XL 640 ​ (26) ​ (20) ​ 1 ​ n/m ​ 621 ​ (26) ​ (20) ​ 11 ​ (18) ​ (17) ​ 7 ​ (23) ​ (19) Onglyza 227 ​ (12) ​ (8) ​ 49 ​ (36) ​ 131 ​ 8 ​ 16 ​ 32 ​ (16) ​ (17) ​ 15 ​ (30) ​ (28) Bydureon 163 ​ (42) ​ (42) ​ 133 ​ (45) ​ 3 ​ 12 ​ 12 ​ 27 ​ (24) ​ (26) ​ — ​ — ​ — Others 296 ​ (19) ​ (17) ​ 30 ​ (10) ​ 152 ​ (22) ​ (18) ​ 109 ​ (15) ​ (15) ​ 5 ​ (52) ​ (49) Total CVRM 10,585 ​ 15 ​ 18 ​ 2,752 ​ 11 ​ 4,586 ​ 11 ​ 18 ​ 2,503 ​ 31 ​ 29 ​ 744 ​ 9 ​ 16 BioPharmaceuticals: Respiratory & Immunology ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Symbicort 2,362 ​ (7) ​ (4) ​ 726 ​ (25) ​ 753 ​ 24 ​ 33 ​ 549 ​ (6) ​ (7) ​ 334 ​ (11) ​ (7) Fasenra 1,553 ​ 11 ​ 12 ​ 992 ​ 9 ​ 64 ​ 50 ​ 61 ​ 355 ​ 16 ​ 14 ​ 142 ​ — ​ 6 Breztri 677 ​ 70 ​ 73 ​ 383 ​ 60 ​ 161 ​ 75 ​ 85 ​ 81 ​ n/m ​ n/m ​ 52 ​ 55 ​ 66 Saphnelo ​ 280 ​ n/m ​ n/m ​ 260 ​ n/m ​ 2 ​ n/m ​ n/m ​ 8 ​ n/m ​ n/m ​ 10 ​ n/m ​ n/m Tezspire ​ 86 ​ n/m ​ n/m ​ — ​ — ​ 1 ​ n/m ​ n/m ​ 48 ​ n/m ​ n/m ​ 37 ​ n/m ​ n/m Pulmicort 713 ​ 11 ​ 17 ​ 28 ​ (58) ​ 575 ​ 25 ​ 34 ​ 68 ​ (1) ​ (2) ​ 42 ​ (15) ​ (10) Bevespi 58 ​ — ​ — ​ 34 ​ (19) ​ 6 ​ 19 ​ 28 ​ 17 ​ 65 ​ 62 ​ 1 ​ 50 ​ 14 Daliresp 54 ​ (72) ​ (72) ​ 42 ​ (76) ​ 3 ​ (7) ​ (11) ​ 8 ​ (9) ​ (11) ​ 1 ​ (48) ​ (20) Others 324 ​ (23) ​ (20) ​ 82 ​ (42) ​ 206 ​ (10) ​ (5) ​ 30 ​ (29) ​ (30) ​ 6 ​ 1 ​ 5 Total Respiratory & Immunology 6,107 ​ 6 ​ 8 ​ 2,547 ​ (4) ​ 1,771 ​ 23 ​ 31 ​ 1,164 ​ 10 ​ 8 ​ 625 ​ 2 ​ 8 BioPharmaceuticals: Vaccines & Immune Therapies ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ COVID-19 mAbs 132 ​ (94) ​ (93) ​ — ​ n/m ​ 6 ​ (99) ​ (99) ​ 12 ​ (96) ​ (96) ​ 114 ​ (72) ​ (68) Vaxzevria 12 ​ (99) ​ (99) ​ — ​ n/m ​ 10 ​ (99) ​ (99) ​ 2 ​ n/m ​ (99) ​ — ​ n/m ​ n/m Beyfortus 106 ​ n/m ​ n/m ​ 87 ​ n/m ​ — ​ — ​ — ​ 19 ​ n/m ​ n/m ​ — ​ — ​ — Synagis 546 ​ (6) ​ (2) ​ (1) ​ n/m ​ 195 ​ 13 ​ 19 ​ 175 ​ (18) ​ (18) ​ 177 ​ (7) ​ (1) FluMist ​ 216 ​ 24 ​ 17 ​ 23 ​ 10 ​ 1 ​ 9 ​ (2) ​ 188 ​ 25 ​ 17 ​ 4 ​ 74 ​ 80 Total Vaccines & Immune Therapies 1,012 ​ (79) ​ (78) ​ 109 ​ (91) ​ 212 ​ (84) ​ (83) ​ 396 ​ (61) ​ (62) ​ 295 ​ (76) ​ (74) Rare Disease: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Soliris ​ 3,145 ​ (16) ​ (14) ​ 1,734 ​ (20) ​ 424 ​ 41 ​ 63 ​ 670 ​ (17) ​ (18) ​ 317 ​ (33) ​ (29) Ultomiris ​ 2,965 ​ 51 ​ 52 ​ 1,750 ​ 54 ​ 71 ​ 88 ​ 89 ​ 668 ​ 39 ​ 36 ​ 476 ​ 54 ​ 65 Strensiq ​ 1,152 ​ 20 ​ 21 ​ 937 ​ 22 ​ 40 ​ 15 ​ 22 ​ 89 ​ 14 ​ 11 ​ 86 ​ 13 ​ 22 Koselugo ​ 331 ​ 59 ​ 60 ​ 195 ​ 20 ​ 59 ​ n/m ​ n/m ​ 53 ​ n/m ​ n/m ​ 24 ​ n/m ​ n/m Kanuma ​ 171 ​ 7 ​ 8 ​ 85 ​ 10 ​ 29 ​ (7) ​ (1) ​ 49 ​ 12 ​ 10 ​ 8 ​ 2 ​ 9 Total Rare Disease ​ 7,764 ​ 10 ​ 12 ​ 4,701 ​ 9 ​ 623 ​ 45 ​ 62 ​ 1,529 ​ 7 ​ 5 ​ 911 ​ 5 ​ 12 Other medicines ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nexium 945 ​ (27) ​ (22) ​ 115 ​ (5) ​ 578 ​ 2 ​ 9 ​ 53 ​ 16 ​ 13 ​ 199 ​ (64) ​ (61) Others 231 ​ (32) ​ (30) ​ 18 ​ (22) ​ 153 ​ (31) ​ (28) ​ 52 ​ (33) ​ (32) ​ 8 ​ (58) ​ (55) Total Other medicines 1,176 ​ (28) ​ (24) ​ 133 ​ (8) ​ 731 ​ (7) ​ (1) ​ 105 ​ (14) ​ (15) ​ 207 ​ (64) ​ (61) Total Product Sales 43,789 ​ 2 ​ 4 ​ 17,961 ​ 4 ​ 11,751 ​ 1 ​ 8 ​ 9,029 ​ 9 ​ 7 ​ 5,048 ​ (14) ​ (8) Note 1 Prior to 2024, Imjudo Product Sales were included in the Imfinzi Product Sales figure with the Geographical review and within the “Financial Statements—Notes to the Group Financial Statements—Note 2—Revenue” on pages 140 to 141 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. ​ ​ 24 ​ All commentary in “—Geographical Review” relates to Product Sales. 2025 in brief Product Sales increased by 9% (CER: 9%) in 2025 to $55,573 million (2024: $50,938 million; 2023: $43,789 million). In 2025 we saw strong commercial performance across all of our therapy areas. Product Sales in the US increased by 8% to $23,444 million (2024: $21,655 million; 2023: $17,961 million) reflecting the continued growth of our Oncology medicines, Ultomiris and Saphnelo, partially offset by a decline in Brilinta. In 2025, Product Sales in Emerging Markets increased by 11% (CER: 13%) to $15,056 million (2024: $13,535 million; 2023: $11,751 million) driven by Oncology and CVRM medicines. China sales, comprising 44% of Emerging Markets sales, increased by 3% (CER: 4%) to $6,624 million (2024: $6,402 million; 2023: $5,867 million). China sales contributed to 12% of Product Sales in 2025. Ex-China Emerging Markets Product Sales increased by 18% (21% at CER) to $8,432 million (2024: $7,133 million; 2023: $5,884 million) driven by driven by Oncology medicines and Farxiga. Among Oncology medicines in Ex-China Emerging Markets, Product Sales of Tagrisso increased by 24% (CER: 27%), Imfinzi increased by 49% (CER: 55%), and Calquence increased by 54% (CER: 56%). Product Sales of Farxiga in Ex-China Emerging Markets increased by 25% (CER: 28%) to $1,925 million (2024: $1,537 million; 2023: $1,183 million) in the year. Product Sales in Europe increased by 11% (CER: 7%) to $12,021 million (2024: $10,848 million; 2023: $9,029 million). Sales of Oncology medicines comprised 41% of Europe Product Sales, which increased in 2025 by 20% (CER: 15%) to $4,880 million (2024: $4,082 million; 2023: $3,332 million) driven by sales of Tagrisso, Imfinzi, Calquence and Lynparza. Product Sales in the Established ROW region increased by 3% (CER: 3%) to $5,052 million (2024: $4,900 million; 2023: $5,048 million) largely driven by Oncology medicines. Japan, comprising 71% of total Established ROW Product Sales, increased by 3% (CER: 2%) to $3,602 million (2024: $3,489 million; 2023: $3,654 million), largely driven by increased sales of Rare Disease medicine Ultomiris. Product Sales in Canada, which contributed 19% of total Established ROW Product Sales, increased by 2% (CER: 5%) to $954 million (2024: $937 million; 2023: $967 million). 2024 in brief Product Sales increased by 16% (CER: 19%) in 2024 to $50,938 million (2023: $43,789 million). Growth was well balanced across AstraZeneca’s focus therapy areas and key geographies in 2024, driven by strong underlying demand. Product Sales in the US increased by 21% to $21,655 million (2023: $17,961 million) reflecting the continued growth of our Oncology medicines, Ultomiris and Symbicort. In 2024, Product Sales in Emerging Markets increased by 15% (CER: 23%) to $13,535 million (2023: $11,751 million) driven by Oncology and CVRM medicines. China sales, comprising 47% of Emerging Markets sales, increased by 9% (CER: 11%) to $6,402 million (2023: $5,867 million). China sales contributed to 13% of Product Sales in 2024. Ex-China Emerging Markets Product Sales increased by 21% (36% at CER) to $7,133 million (2023: $5,884 million) driven by Oncology medicines and Farxiga from CVRM. Among Oncology medicines in Ex-China Emerging Markets, Product Sales of Tagrisso increased by 14% (CER: 30%), Imfinzi increased by 44% (CER: 78%), and Lynparza increased by 23% (CER: 37%). Product Sales of Farxiga in Ex-China Emerging Markets increased by 30% (CER: 40%) to $1,537 million (2023: $1,183 million) in the year. Product Sales in Europe increased by 20% (CER: 19%) to $10,848 million (2023: $9,029 million). Sales of Oncology medicines comprised 38% of Europe Product Sales, which increased in 2024 by 23% (CER: 22%) to $4,082 million (2023: $3,332 million) driven by sales of Tagrisso, Imfinzi and Lynparza. Product Sales in the Established ROW region decreased by 3% (CER: increased by 3%) to $4,900 million (2023: $5,048 million) largely driven by Oncology medicines. Japan, comprising 71% of total Established ROW Product Sales, decreased by 5% (CER: increased by 3%) to $3,489 million (2023: $3,654 million), due to a decline in sales of Oncology medicine Imfinzi and Vaccines & Immune Therapies medicine Synagis. Product Sales in Canada, which contributed 19% of total Established ROW Product Sales, decreased by 3% (CER: 2%) to $937 million (2023: $967 million). 25 ​ 2023 in brief Product Sales increased by 2% (CER: 4%) in 2023 to $43,789 million despite a decline of $3,839 million from COVID-19 medicine. Following completion of the Alexion acquisition on 21 July 2021, Rare Disease medicines generated $7,764 million in 2023, growing 10% (CER: 12%) and contributing 18% of AstraZeneca’s Total Product Sales. Product Sales in the US increased by 4% to $17,961 million driven by strong performance of Oncology, CVRM and Rare Disease medicines. Sales of Rare Disease medicines in the US increased by 9% to $4,701 million, representing 61% of total Rare Disease sales. This is largely driven by Product Sales of Ultomiris. In 2023, Product Sales in Emerging Markets increased by 1% (CER: 8%) to $11,751 million. Excluding COVID-19 medicines, Product Sales in Emerging Markets increased by 12% (CER: 20%) in the year to $11,735 million. China sales, comprising 50% of Emerging Markets sales, increased by 2% (CER: 8%) to $5,867 million. This contributed to 13% of Product Sales in 2023. Ex-China Emerging Markets Product Sales were stable at $5,884 million (increase of 8% at CER). Excluding COVID-19 medicines, Product Sales in Ex-China Emerging Markets increased by 23% in the year (CER: 34%) to $5,868 million, driven by Oncology medicines and Farxiga from CVRM. Product Sales of Vaxzevria in Ex-China Emerging Markets decreased by 99% (CER: 99%) to $10 million in the year. Product Sales of COVID-19 mAbs in Ex-China Emerging Markets decreased by 99% (CER: 99%) to $6 million in the year. Product Sales in Europe increased by 9% (CER: 7%) to $9,029 million. Sales of Rare Disease medicines comprised 17% of Europe Product Sales, which increased by 7% (CER: 5%) to $1,529 million in 2023. Oncology sales in Europe grew by 22% (CER: 20%) to $3,332 million and represented 37% of Europe sales, primarily driven by sales of Tagrisso, Lynparza and Imfinzi. Excluding COVID-19 medicines, Product Sales in Europe grew by 19% (CER: 16%) to $9,015 million. Product Sales in the Established ROW region decreased by 14% (CER: 8%) to $5,048 million largely driven by the decline in Vaccines & Immune Therapies. Japan, comprising 72% of total Established ROW Product Sales, decreased by 9% (CER: 1%) to $3,654 million, due to the decline in sales of COVID-19 medicines, Soliris and Nexium. Product Sales in Canada, which contributed 19% of total Established ROW Product Sales, decreased by 17% (CER: 14%) to $967 million. Sales by Region in 2025 US Product Sales in the US increased by 8% to $23,444 million (2024: $21,655 million; 2023: $17,961 million). Oncology Oncology sales in the US increased by 18% to $11,187 million (2024: $9,510 million; 2023: $7,719 million). Tagrisso sales in the US increased by 11% to $3,064 million (2024: $2,763 million; 2023: $2,276 million), where the underlying demand growth more than offset Medicare Part D redesign. Imfinzi sales in the US increased by 35% to $3,509 million (2024: $2,603 million; 2023: $2,317 million), as a result of demand growth across all indications, particularly new launches. Calquence sales in the US increased by 7% to $2,339 million (2024: $2,190 million; 2023: $1,815 million), as a result of growth in new patient starts in CLL, 1L MCL (ECHO) launch and improved affordability offsetting Medicare Part D redesign and also discounts to secure preferential formulary placement. Lynparza sales in the US increased by 8% to $1,434 million (2024: $1,332 million; 2023: $1,254 million) as a result of share gains across ovarian, breast and prostate indications. Truqap sales in the US increased by 44% to $586 million (2024: $408 million; 2023: $6 million), as a result of a rapidly reached peak share in second-line biomarker-altered metastatic breast cancer, with the fourth quarter benefitting from year-end ordering dynamics. Imjudo sales in the US increased by 26% to $227 million (2024: $180 million; 2023: $146 million), reflecting continued growth driven by lung (POSEIDON) and HCC (HIMALAYA). 26 ​ CVRM CVRM sales in the US decreased by 11% to $2,722 million (2024: $3,075 million; 2023: $2,752 million). Farxiga sales in the US decreased by 1% to $1,730 million (2024: $1,750 million; 2023: $1,451 million), as the prior year benefitted from the launch of an authorised generic. Crestor sales in the US decreased by 3% to $45 million (2024: $46 million; 2023: $55 million). Brilinta sales in the US decreased by 48% to $393 million (2024: $751 million; 2023: $744 million), driven by generic entry in 2025. Lokelma sales in the US increased by 18% to $301 million (2024: $256 million; 2023: $214 million). Wainua sales in the US increased by 139% to $204 million (2024: $85 million; 2023: $nil). Respiratory & Immunology Respiratory & Immunology sales in the US increased by 12% to $3,840 million (2024: $3,416 million; 2023: $2,547 million). Symbicort sales in the US increased by 1% to $1,193 million (2024: $1,187 million; 2023: $726 million) due to demand for an authorised generic partially offsetting brand price pressures. Fasenra sales in the US increased by 14% to $1,195 million (2024: $1,049 million; 2023: $992 million) due to sustained double-digit volume growth with expanded class leadership, offset by an unfavourable gross-to-net adjustment in the fourth quarter. Breztri sales in the US increased by 19% to $614 million (2024: $516 million; 2023: $383 million) as a result of consistent share growth within expanding FDC triple class; offset by an unfavourable gross-to-net adjustment in the fourth quarter. Saphnelo sales in the US increased by 40% to $596 million (2024: $425 million; 2023: $260 million) as a result of strong demand growth. Airsupra sales in the US increased by 145% to $162 million (2024: $66 million; 2023: $nil), reflecting strong launch momentum and volume uptake. Vaccines & Immune Therapies Vaccines & Immune Therapies in the US decreased by 26% to $209 million (2024: $280 million; 2023: $109 million). Beyfortus sales in the US decreased by 21% to $184 million (2024: $232 million; 2023: $87 million), comprised of sales to Sanofi. Rare Disease Rare Disease sales in the US increased by 3% to $5,423 million (2024: $5,263 million; 2023: $4,701 million). Ultomiris sales in the US increased by 18% to $2,667 million (2024: $2,261 million; 2023: $1,750 million), as a result of demand growth across indications, including within the competitive gMG and PNH landscapes. Soliris sales in the US decreased by 28% to $1,092 million (2024: $1,523 million; 2023: $1,734 million), driven by conversion to Ultomiris, competition in gMG and PNH, and biosimilar pressure in gMG, PNH and aHUS. Strensiq sales in the US increased by 14% to $1,332 million (2024: $1,167 million; 2023: $937 million) resulting from demand growth, offset by Medicare Part D redesign. Koselugo sales in the US increased by 3% to $219 million (2024: $212 million; 2023: $195 million) driven by continued patient demand. 27 ​ Other Other medicines sales in the US decreased by 43% to $63 million (2024: $111 million; 2023: $133 million). Nexium sales in the US decreased by 30% to $67 million (2024: $96 million; 2023: $115 million) due to generic erosion. Emerging Markets Product Sales in Emerging Markets increased by 11% (CER: 13%) to $15,056 million (2024: $13,535 million; 2023: $11,751 million). Oncology Oncology sales in Emerging Markets increased by 19% (CER: 21%) to $5,350 million (2024: $4,502 million; 2023: $3,828 million). Tagrisso sales in Emerging Markets increased by 12% (CER: 14%) to $1,971 million (2024: $1,755 million; 2023: $1,621 million) due to continued demand growth, with quarterly revenue profile reflecting usual seasonal ordering dynamics in China. Imfinzi sales in Emerging Markets increased by 34% (CER: 38%) to $640 million (2024: $479 million; 2023: $360 million) due to demand growth in GI (HIMALAYA, TOPAZ-1) and launches in lung cancer and bladder. Calquence sales in Emerging Markets increased by 52% (CER: 54%) to $233 million (2024: $153 million; 2023: $98 million) due to 1L and r/r CLL growth. Lynparza sales in Emerging Markets increased by 2% (CER: 1%) to $669 million (2024: $655 million; 2023: $542 million), affected by generic competition in China and stock compensation in the fourth quarter ahead of anticipated VBP implementation in the first quarter of 2026. Enhertu sales in Emerging Markets increased by 91% (CER: 95%) to $668 million (2024: $350 million; 2023: $169 million) as a result of rapid adoption post-NRDL enlistment of HER2-positive and HER2-low breast cancer from 1 January 2025. Zoladex sales in Emerging Markets increased by 6% (CER: 8%) to $842 million (2024: $795 million; 2023: $687 million). Truqap sales in the Emerging Markets increased to $23 million (2024: $2 million; 2023: $nil). Imjudo sales in the Emerging Markets increased by 40% (CER: 43%) to $22 million (2024: $16 million; 2023: $5 million). CVRM CVRM sales in Emerging Markets increased by 10% (CER: 12%) to $5,893 million (2024: $5,339 million; 2023: $4,586 million). Forxiga sales in Emerging Markets increased by 17% (CER: 18%) to $3,324 million (2024: $2,853 million; 2023: $2,211 million) demonstrating continued strong growth despite generic competition in some markets as well as stock compensation in the fourth quarter ahead of anticipated VBP implementation in the first quarter of 2026. Crestor sales in Emerging Markets increased by 11% (CER: 12%) to $1,041 million (2024: $934 million; 2023: $862 million). Brilinta sales in Emerging Markets decreased by 7% (CER: 7%) to $273 million (2024: $294 million; 2023: $285 million). Lokelma sales in Emerging Markets increased by 50% (CER: 52%) to $129 million (2024: $86 million; 2023: $50 million), demonstrating strong growth with launches in new markets. Seloken sales in Emerging Markets decreased by 1% (CER: increased by 1%) to $586 million (2024: $589 million; 2023: $621 million). 28 ​ Sales of roxadustat in Emerging Markets decreased by 17% (CER: 17%) to $274 million (2024: $331 million; 2023: $271 million), driven by generic competition and China VBP stock compensation in the fourth quarter. Respiratory & Immunology Respiratory & Immunology sales in Emerging Markets decreased by 4% (CER: 3%) to $1,823 million (2024: $1,897 million; 2023: $1,771 million). Symbicort sales in Emerging Markets decreased by 1% (CER: increased by 1%) to $801 million (2024: $805 million; 2023: $753 million) as a result of China being affected by ICS/LABA class erosion in COPD in favour of FDC triple therapy. Fasenra sales in Emerging Markets increased by 27% (CER: 29%) to $117 million (2024: $92 million; 2023: $64 million) due to asthma launch momentum across key markets. Breztri sales in Emerging Markets increased by 22% (CER: 22%) to $298 million (2024: $245 million; 2023: $161 million) as a result of market share leadership in China with strong FDC triple class penetration. Tezspire sales in Emerging Markets increased to $40 million (2024: $11 million; 2023: $1 million) as a result of strong continued launch uptake. Pulmicort sales in Emerging Markets decreased by 27% (CER: 27%) to $414 million (2024: $568 million; 2023: $575 million) due to generic competition. Vaccines & Immune Therapies Vaccines & Immune Therapies in Emerging Markets increased by 3% (CER: 5%) to $220 million (2024: $213 million; 2023: $212 million). Synagis sales in Emerging Markets increased by 2% (CER: 4%) to $214 million (2024: $210 million; 2023: $195 million). Rare Disease Rare Disease sales in Emerging Markets increased by 22% (CER: 26%) to $1,038 million (2024: $849 million; 2023: $623 million). Ultomiris sales in Emerging Markets increased by 84% (CER: 90%) to $261 million (2024: $141 million; 2023: $71 million) as a result of expansion into new markets and growth in patient demand. Soliris sales in Emerging Markets decreased by 9% (CER: 1%) to $405 million (2024: $443 million; 2023: $424 million). Strensiq sales in Emerging Markets increased by 94% (CER: 84%) to $104 million (2024: $54 million; 2023: $40 million) due to the fourth quarter benefitting from the favourable timing of tender orders. Koselugo sales in Emerging Markets increased by 29% (CER: 25%) to $228 million (2024: $177 million; 2023: $59 million) driven by growth in continued patient demand and geographic expansion. Other Other medicines sales in Emerging Markets were stable (CER: increased by 1%) at $732 million (2024: $735 million; 2023: $731 million). Nexium sales in Emerging Markets increased by 3% (CER: 5%) to $611 million (2024: $591 million; 2023: $578 million). Europe Product Sales in Europe increased by 11% (CER: 7%) to $12,021 million (2024: $10,848 million; 2023: $9,029 million). 29 ​ Oncology Oncology sales in Europe increased by 20% (CER: 15%) to $4,880 million (2024: $4,082 million; 2023: $3,332 million). Tagrisso sales in Europe increased by 9% (CER: 6%) to $1,423 million (2024: $1,301 million; 2023: $1,120 million), driven by demand growth partially offset by pricing pressure in certain major markets. Imfinzi sales in Europe increased by 31% (CER: 26%) to $1,239 million (2024: $948 million; 2023: $758 million), due to growth from bladder and GI indications and momentum from lung cancer launches. Calquence sales in Europe increased by 20% (CER: 15%) to $784 million (2024: $656 million; 2023: $493 million) as a result of early launch momentum in fixed duration 1L CLL (AMPLIFY). Lynparza sales in Europe increased by 10% (CER: 6%) to $914 million (2024: $832 million; 2023: $734 million) driven by launches in breast and prostate cancers (OlympiA and PROpel). Enhertu sales in Europe increased by 64% (CER: 58%) to $207 million (2024: $126 million; 2023: $60 million) as a result of demand growth in chemotherapy naïve HER2-low breast cancer and a favourable gross-to-net adjustment in the fourth quarter. Zoladex sales in Europe increased by 6% (CER: 3%) to $157 million (2024: $148 million; 2023: $133 million). Truqap sales in Europe increased to $85 million (2024: $12 million; 2023: $nil). Imjudo sales in Europe increased by 43% (CER: 38%) to $52 million (2024: $36 million; 2023: $16 million). CVRM CVRM sales in Europe increased by 4% (stable at CER) to $3,398 million (2024: $3,270 million; 2023: $2,503 million). Forxiga sales in Europe increased by 12% (CER: 8%) to $2,941 million (2024: $2,634 million; 2023: $1,881 million) due to demand growth offset by generic entry in the UK in the third quarter. Brilique sales in Europe decreased by 45% (CER: 46%) to $147 million (2024: $268 million; 2023: $271 million) due to generic entry in the second quarter. Lokelma sales in Europe increased by 39% (CER: 34%) to $129 million (2024: $92 million; 2023: $58 million). Seloken sales in Europe increased by 43% (CER: 43%) to $18 million (2024: $13 million; 2023: $11 million). Respiratory & Immunology Respiratory & Immunology sales in Europe increased by 20% (CER: 16%) to $1,701 million (2024: $1,416 million; 2023: $1,164 million). Symbicort sales in Europe were stable (CER: decreased by 3%) to $560 million (2024: $559 million; 2023: $549 million), impacted by continued generic erosion. Fasenra sales in Europe increased by 19% (CER: 15%) to $482 million (2024: $404 million; 2023: $355 million), as a result of sustained leadership in severe eosinophilic asthma. Trixeo sales in Europe increased by 33% (CER: 29%) to $191 million (2024: $143 million; 2023: $81 million), as a result of sustained growth from market share gain and new launches. Tezspire sales in Europe increased by 90% (CER: 83%) to $297 million (2024: $156 million; 2023: $48 million) as a result of maintained new-to-brand leadership across multiple markets and new launches. Saphnelo sales in Europe increased by 89% (CER: 81%) to $49 million (2024: $26 million; 2023: $8 million) due to ongoing launches. Pulmicort sales in Europe decreased by 12% (CER: 15%) to $63 million (2024: $71 million; 2023: $68 million). 30 ​ Vaccines & Immune Therapies Vaccines & Immune Therapies sales in Europe decreased by 13% (CER: 15%) to $354 million (2024: $409 million; 2023: $396 million). Beyfortus sales in Europe increased by 12% (CER: 12%) to $94 million (2024: $84 million; 2023: $19 million). Synagis sales in Europe decreased by 56% (CER: 57%) to $50 million (2024: $116 million; 2023: $175 million), due to competition from Beyfortus. FluMist sales in Europe increased by 3% (CER: decreased by 1%) to $210 million (2024: $204 million; 2023: $188 million). Rare Disease Rare Disease sales in Europe increased by 2% (CER: decreased by 1%) to $1,604 million (2024: $1,568 million; 2023: $1,529 million). Ultomiris sales in Europe increased by 19% (CER: 15%) to $1,053 million (2024: $884 million; 2023: $668 million), as result of strong demand growth following recent launches, offset by competition in gMG and PNH. Soliris sales in Europe decreased by 52% (CER: 53%) to $200 million (2024: $416 million; 2023: $670 million) due to conversion to Ultomiris, competition in gMG and PNH, and biosimilar pressure in PNH and aHUS. Strensiq sales in Europe increased by 25% (CER: 21%) to $123 million (2024: $99 million; 2023: $89 million). Koselugo sales in Europe increased by 57% (CER: 51%) to $161 million (2024: $103 million; 2023: $53 million) driven by growth in continued patient demand and geographic expansion. Other Other medicines sales in Europe decreased by 19% (CER: 20%) to $84 million (2024: $103 million; 2023: $105 million). Nexium sales in Europe decreased by 18% (CER: 20%) to $50 million (2024: $60 million; 2023: $53 million) due to generic erosion. Established ROW Product Sales in the Established ROW region increased by 3% (CER: 3%) to $5,052 million (2024: $4,900 million; 2023: $5,048 million). Oncology Oncology sales in the Established ROW region increased by 5% (CER: 5%) to $2,281 million (2024: $2,181 million; 2023: $2,266 million). Oncology sales in Japan increased by 2% (CER: 1%) to $1,677 million (2024: $1,641 million; 2023: $1,804 million). Tagrisso sales in the Established ROW region increased by 5% (CER: 5%) to $796 million (2024: $761 million; 2023: $782 million). Sales in Japan increased by 5% (CER: 4%) to $637 million in the year (2024: $609 million; 2023: $639 million). Imfinzi sales in the Established ROW region decreased by 2% (CER: 2%) to $675 million (2024: $687 million; 2023: $802 million). Sales in Japan decreased by 4% (CER: 5%) to $570 million (2024: $591 million; 2023: $714 million) due to mandatory price reductions in February 2024 (25%), and August 2024 (11%) and increased competition in BTC (TOPAZ-1). Calquence sales in the Established ROW region increased by 25% (CER: 27%) to $162 million (2024: $130 million; 2023: $108 million). Sales in Japan increased by 42% (CER: 41%) to $44 million (2024: $31 million; 2023: $20 million). Lynparza sales in the Established ROW region increased by 3% (CER: 4%) to $262 million (2024: $253 million; 2023: $281 million) reflecting gains in 1L ovarian cancer, increasing share of pMMR endometrial cancer (DUO-E). Sales in Japan increased by 2% (CER: 1%) to $180 million (2024: $176 million; 2023: $210 million). 31 ​ Enhertu sales in the Established ROW region increased by 47% (CER: 51%) to $102 million (2024: $69 million; 2023: $32 million). Zoladex sales in the Established ROW region decreased by 11% (CER: 10%) to $88 million (2024: $99 million; 2023: $118 million). Sales in Japan decreased by 16% (CER: 16%) to $52 million (2024: $62 million; 2023: $83 million). Truqap sales in the Established ROW region increased to $34 million (2024: $8 million; 2023: $nil). Sales in Japan increased to $27 million (2024: $7 million; 2023: $nil). Imjudo sales in the Established ROW region decreased by 9% (CER: 9%) to $45 million (2024: $49 million; 2023: $52 million). Sales in Japan decreased by 9% (CER: 10%) to $40 million (2024: $44 million; 2023: $52 million). CVRM CVRM sales in the Established ROW region decreased by 2% (CER: 2%) to $751 million (2024: $764 million; 2023: $744 million). CVRM sales in Japan were stable (CER: decreased by 1%) to $624 million (2024: $624 million; 2023: $544 million). Forxiga sales in the Established ROW region decreased by 3% (CER: 3%) to $405 million (2024: $419 million; 2023: $420 million). Japan sales decreased by 5% (CER: 6%) to $325 million (2024: $343 million; 2023: $298 million) as a result of generic T2D entry in the fourth quarter. Crestor sales in the Established ROW region decreased by 5% (CER: 5%) to $129 million (2024: $136 million; 2023: $138 million). Sales in Japan decreased by 1% (CER: 1%) to $106 million (2024: $107 million; 2023: $105 million). Lokelma sales in the Established ROW region increased by 29% (CER: 28%) to $139 million (2024: $108 million; 2023: $90 million) driven by launches in new markets. Sales in Japan increased by 29% (CER: 28%) to $136 million in the year (2024: $106 million; 2023: $88 million). Respiratory & Immunology Respiratory & Immunology sales in the Established ROW region increased by 17% (CER: 18%) to $803 million (2024: $687 million; 2023: $625 million). Respiratory & Immunology sales in Japan increased by 30% (CER: 29%) to $340 million (2024: $261 million; 2023: $241 million) in the year. Symbicort sales in the Established ROW region increased by 1% (CER: 3%) to $331 million (2024: $328 million; 2023: $334 million). Sales in Japan increased by 19% (CER: 17%) to $56 million (2024: $47 million; 2023: $65 million). Fasenra sales in the Established ROW region increased by 29% (CER: 30%) to $187 million (2024: $144 million; 2023: $142 million). Sales in Japan increased by 43% (CER: 41%) to $112 million (2024: $78 million; 2023: $82 million) driven by EGPA launch. Breztri sales in the Established ROW region increased by 30% (CER: 30%) to $96 million (2024: $74 million; 2023: $52 million). Sales in Japan increased by 20% (CER: 19%) to $54 million (2024: $45 million; 2023: $37 million) due to increasing market share. Tezspire sales in the Established ROW region increased by 51% (CER: 51%) to $121 million (2024: $81 million; 2023: $37 million) driven by growth in Japan. Sales in Japan increased by 39% (CER: 38%) to $87 million (2024: $63 million; 2023: $30 million). Vaccines & Immune Therapies Vaccines & Immune Therapies sales in the Established ROW region decreased by 60% (CER: 60%) to $63 million (2024: $156 million; 2023: $295 million). Vaccines & Immune Therapies sales in Japan decreased by 61% (CER: 61%) to $54 million (2024: $138 million; 2023: $234 million) in the year. Synagis sales in the Established ROW region decreased by 76% (CER: 76%) to $31 million (2024: $129 million; 2023: $177 million) due to competition from Beyfortus. Sales in Japan decreased by 77% (CER: 77%) to $27 million (2024: $116 million; 2023: $150 million). 32 ​ Rare Disease Rare Disease sales in the Established ROW region increased by 7% (CER: 7%) to $1,061 million (2024: $988 million; 2023: $911 million). Rare Disease sales in Japan increased by 14% (CER: 13%) to $845 million (2024: $744 million; 2023: $675 million). Ultomiris sales in the Established ROW region increased by 16% (CER: 15%) to $737 million (2024: $638 million; 2023: $476 million) driven by continued conversion and strong demand following new launches. Sales in Japan increased by 16% (CER: 15%) to $633 million (2024: $548 million; 2023: $441 million). Soliris sales in the Established ROW region decreased by 32% (CER: 31%) to $140 million (2024: $206 million; 2023: $317 million) due to conversion to Ultomiris. Sales in Japan decreased by 25% (CER: 26%) to $56 million (2024: $75 million; 2023: $133 million). Strensiq sales in the Established ROW region increased by 23% (CER: 23%) to $119 million (2024: $96 million; 2023: $86 million). Sales in Japan increased by 24% (CER: 23%) to $103 million (2024: $82 million; 2023: $74 million). Koselugo sales in the Established ROW region increased by 38% (CER: 38%) to $54 million (2024: $39 million; 2023: $24 million) driven by growth in continued patient demand and geographic expansion. Sales in Japan increased by 29% (CER: 28%) to $45 million (2024: $35 million; 2023: $23 million). Other Other medicines sales in the Established ROW region decreased by 25% (CER: 24%) to $93 million (2024: $124 million; 2023: $207 million). Sales in Japan decreased by 25% (CER: 25%) to $61 million (2024: $82 million; 2023: $156 million). Nexium sales in the Established ROW region decreased by 26% (CER: 26%) to $88 million (2024: $120 million; 2023: $199 million) due to generic erosion. Sales in Japan decreased by 28% (CER: 28%) to $56 million (2024: $78 million; 2023: $150 million). Revenue recognition in the US Product Sales are recorded at the invoiced amount (excluding inter-company sales and value-added taxes), less movements in estimated accruals for rebates and chargebacks given to managed care and other customers, which are a particular feature in the US and are considered to be key estimates. It is the Group’s policy to offer a credit note for all returns and to destroy all returned stock in all markets. Cash discounts for prompt payments are also discounted from sales. Sales are recognised when the control of the goods has been transferred to a third party, which is usually when title passes to the customer, either on shipment or on the receipt of goods by the customer, depending on local trading terms. Rebates, chargebacks and returns in the US When invoicing Product Sales in the US, we estimate the rebates and chargebacks that we expect to pay, which are considered to be estimates. These rebates typically arise from sales contracts with third-party managed care organisations, hospitals, long-term care facilities, group purchasing organisations and various federal or state programmes (Medicaid contracts, supplemental rebates, etc.). They can be classified as follows: ● Chargebacks, where we enter into arrangements under which certain parties, typically hospitals, long-term care facilities, group purchasing organisations, the Department of Veterans Affairs, Public Health Service Covered Entities, and the Department of Defense, are able to buy products from wholesalers at the lower prices we have contracted with them. The chargeback is the difference between the price we invoice to the wholesaler and the contracted price charged by the wholesaler to the other party. Chargebacks are credited directly to the wholesalers. ● Regulatory rebates, including Medicaid and other federal and state programmes, where we pay rebates based on the specific terms of agreements with the US Department of Health and Human Services and with individual states, which include product usage and information on best prices and average market price benchmarks. ● Contractual rebates, under which entities such as third-party managed care organisations are entitled to rebates depending on specified performance provisions, which vary from contract to contract. The effects of these deductions on our US pharmaceuticals revenue and the movements on US pharmaceuticals revenue provisions are set out in the tables below. 33 ​ Accrual assumptions are built up on a product-by-product and customer-by customer basis, taking into account specific contract provisions coupled with expected performance, and are then aggregated into a weighted average rebate accrual rate for each of our products. Accrual rates are reviewed and adjusted on an as-needed basis. There may be further adjustments when actual rebates are invoiced based on utilisation information submitted to us (in the case of contractual rebates) and claims/invoices are received (in the case of regulatory rebates and chargebacks). We believe that we have made reasonable estimates for future rebates using a similar methodology to that of previous years. Inevitably, however, these estimates involve assumptions in respect of aggregate future sales levels, segment mix and customers’ contractual performance. Overall adjustments between gross and net US Product Sales amounted to $23,941 million in 2025 (2024: $18,986 million) with the increase driven predominantly by increased rebates from contractual arrangements and chargebacks. Cash discounts are offered to customers to encourage prompt payment. Accruals are calculated based on historical experience and are adjusted to reflect actual experience. Our revenue recognition policy is described within Group Accounting Policies in “Financial Statements—Group Accounting Policies” on page 129 to 136 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. Industry practice in the US allows wholesalers and pharmacies to return unused stocks within a certain time frame based on shelf-life expiry. The customer is credited for the returned product by the issuance of a credit note. Returned products are not exchanged for products from inventory and once a return claim has been determined to be valid and a credit note has been issued to the customer, the returned products are destroyed. At the point of sale in the US, we estimate the quantity and value of products which may ultimately be returned. Our returns accruals in the US are based on actual experience. Our estimate is based on the historical sales and returns information for established products together with market-related information, such as estimated shelf life, product recall, and estimated stock levels at wholesalers, which we receive via third-party information services. For newly launched products, we use rates based on our experience with similar products or a pre-determined percentage. Gross to Net Product Sales US pharmaceuticals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ($m) Gross Product Sales 47,385 40,641 36,568 Chargebacks (5,113) (3,969) (3,075) Regulatory – Medicaid and state programmes (2,527) (2,184) (2,417) Contractual – Managed care and Medicare (13,963) (10,825) (11,035) Cash and other discounts (483) (430) (428) Customer returns (149) (111) (222) US branded pharmaceutical fee (99) (114) (124) Other (1,607) (1,353) (1,306) Net Product Sales 23,444 21,655 17,961 ​ Movements in accruals US pharmaceuticals ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Brought ​ ​ ​ ​ ​ ​ ​ Adjustment in ​ ​ ​ ​ ​ ​ ​ Carried ​ ​ forward at 1 ​ Provision for ​ respect of prior ​ Returns and ​ forward at 31 ​ ​ January 2025 ​ current year ​ years ​ payments ​ December 2025 ​ ​ ($m) Chargebacks 344 4,651 4 (4,568) 431 Regulatory – Medicaid and state programmes 860 2,532 (42) (2,472) 878 Contractual – Managed care and Medicare 3,066 14,059 (92) (13,381) 3,652 Cash and other discounts 23 483 — (480) 26 Customer returns 280 133 (2) (135) 276 US branded pharmaceutical fee 177 155 (43) (124) 165 Other 228 1,604 — (1,319) 513 Total 4,978 23,617 (175) (22,479) 5,941 ​ 34 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Brought ​ ​ ​ ​ ​ ​ ​ Adjustment in ​ ​ ​ ​ ​ ​ ​ Carried ​ ​ forward at 1 ​ Provision for ​ respect of prior ​ Returns and ​ forward at 31 ​ ​ January 2024 ​ current year ​ years ​ payments ​ December 2024 ​ ​ ($m) Chargebacks 245 3,530 46 (3,477) 344 Regulatory – Medicaid and state programmes 986 2,185 (18) (2,293) 860 Contractual – Managed care and Medicare 3,127 10,962 (122) (10,901) 3,066 Cash and other discounts 31 430 — (438) 23 Customer returns 273 98 — (91) 280 US branded pharmaceutical fee 172 159 (44) (110) 177 Other 282 1,346 — (1,400) 228 Total 5,116 18,710 (138) (18,710) 4,978 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Brought ​ ​ ​ ​ ​ ​ ​ Adjustment in ​ ​ ​ ​ ​ ​ ​ Carried ​ ​ forward at 1 ​ Provision for ​ respect of prior ​ Returns and ​ forward at 31 ​ ​ January 2023 ​ current year ​ years ​ payments ​ December 2023 ​ ​ ($m) Chargebacks 233 2,743 (22) (2,709) 245 Regulatory – Medicaid and state programmes 771 2,468 (59) (2,194) 986 Contractual – Managed care and Medicare 2,426 11,166 (92) (10,373) 3,127 Cash and other discounts 27 428 — (424) 31 Customer returns 205 204 — (136) 273 US branded pharmaceutical fee 137 133 (5) (93) 172 Other 162 1,303 — (1,183) 282 Total 3,961 18,445 (178) (17,112) 5,116 ​ Disclosures Under the Iran Threat Reduction and Syria Human Rights Act of 2012 AstraZeneca is a global, innovation-driven biopharmaceutical business with operations in over 100 countries and its innovative medicines are used by millions of patients worldwide. AstraZeneca has a legal entity based in Iran, AstraZeneca Pars Company (“AstraZeneca Pars”), which has no employees, and is owned by non-US Group companies. In July 2017, AstraZeneca Pars submitted regulatory applications to the Iranian Food and Drug Administration and subsequently received marketing authorizations for several products. AstraZeneca Pars has not entered into any commercial transaction since its incorporation; products registered under AstraZeneca Pars are exclusively sold by a third-party distributor. AstraZeneca, through one of its non-US Group companies that is neither a US person nor a foreign subsidiary of a US person, currently has sales of prescription pharmaceuticals in Iran solely through a single third-party distributor, which uses three known entities in the Iranian distribution chain. At this time, none of AstraZeneca’s US entities are involved in any business activities in Iran, or with the Iranian government. To the best knowledge of the management of AstraZeneca, the third-party distributor used by AstraZeneca is not owned or controlled by the Iranian government and AstraZeneca does not have any agreements, commercial arrangements, or other contracts with the Iranian government. However, AstraZeneca understands that one of the independent sub-distributors of AstraZeneca’s third-party distributor is likely to be indirectly controlled by the Iranian government. Further, AstraZeneca’s third-party distributor may initiate payments using banks associated with the government of Iran for the purchase of AstraZeneca products. Finally, Government agencies, hospitals and institutions may purchase AstraZeneca products from the third-party distributor or the sub-distributors. Throughout 2017 to 2025, AstraZeneca, through a distributor, sponsored health care provider education programs in Iran, including for employees of hospitals owned or controlled by the Iranian Ministry of Health. For the year ended December 31, 2025, the Company’s gross revenues and net profits attributable to the above-mentioned Iranian activities were $33 million and $19 million respectively. For the same period, AstraZeneca’s gross revenues and net profits were $58.7 billion and $10.2 billion, respectively. Accordingly, the gross revenues and net profits attributable to the above-mentioned Iranian activities amounted to approximately 0.06% of AstraZeneca’s gross revenues and approximately 0.19% of its net profits. At the time of publication, the management of AstraZeneca does not anticipate any change in its activities in Iran that would result in a material impact on AstraZeneca. 35 ​ C.Organizational Structure The information (including tabular data) set forth under the headings “Additional Information—Directors’ Report—Subsidiaries and principal activities” and “—Branches and countries in which the Group conducts business” on page 224 and “Financial Statements—Group Subsidiaries and Holdings” on pages 192 to 196, in each case of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026 is incorporated by reference. D.Property, Plant and Equipment Please see the information below under the heading Item 5—“Operating and Financial Review and Prospects—Operating Results—2025 compared with 2024”. The information (including tabular data) set forth under the headings “Strategic Report—Business Review—Science and Innovation—Research & Development” on pages 28 to 29, “Strategic Report—Business Review—Growth and Therapy Area Leadership—Operations” on page 33, “Strategic Report—Business Review—Growth and Therapy Area Leadership—Digital technologies” on page 36, “Strategic Report—Business Review—Growth and Therapy Area Leadership—Cybersecurity and data privacy” on page 36, “Financial Statements—Notes to the Group Financial Statements—Note 8—Property, plant and equipment” on page 149, “Financial Statements—Notes to the Group Financial Statements—Note 30—Commitments, contingent liabilities and contingent assets—Environmental costs and liabilities” on pages 180 and 181, and “Financial Statements—Notes to the Group Financial Statements—Note 9—Leases” on page 150, in each case of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026 is incorporated by reference. Substantially all of the Group’s properties are held freehold, free of material encumbrances and are fit for their purpose. For more information, please refer to “Financial Statements—Notes to the Group Financial Statements—Note 8—Property, plant and equipment” on page 149 of AstraZeneca’s “Annual Report and Form 20-F Information 2025” included as exhibit 15.1 to this Form 20-F dated February 24, 2026. ​