AstraZeneca PLC

Thank you, Andy. Welcome, everybody. It's great to see you all here today. Next slide, please. 2024 was a very strong year for our company. I would say a very, very amazing year, I have to say, with total revenue up 21% and core EPS up 19%, as you can see here. A clear illustration of the strong underlying momentum of our company. I've also listed here 14% on core OPEX to show that we continue to work on leverage with a lower growth of our expenses relative to the growth of our total revenue. We also delivered important pipeline advancements with nine high-value pivotal trials. readouts in 2024. Combined, these trials represent over $5 billion in non-risk-adjusted PQR revenue. We had, of course, more readouts than those nine, but those are the most high-value readouts we had last year. At our investor day in May, we communicated our ambition to deliver 20 new medicines by 2030. And I'm pleased to report that we have eight new medicines approved to date, including the recent approval of DatoWay, which was previously called DatoDxD earlier this year. So if you move to the next slide, we continue to benefit from our broad-based, diverse portfolio of products and diverse geography. And we have strong growth across all our therapy areas, as you can see here, and our key geographies in 2024. In the year ahead, we anticipate sustained demand for our innovative medicines and our growth across geographies. In our results announcement, we provided an update on ongoing investigations in China. We've received a notification from the Shenzhen City Customs Office regarding suspected unpaid importation taxes totaling $900,000, which, to the best of our knowledge, relates to Mfinzi and Imjudo. So if actually AstraZeneca was found liable, a fine of between one to five times the amount of avoided import duties could have to be paid by AstraZeneca. We are continuing to cooperate with the government towards resolution of those investigations. I'm pleased to have Iskra, we call her Super Iskra, joining us today in her new role as Head of International. I would now like to invite Iskra to share early perspectives on her new jobs and in particular China. Over to you, Iskra.

Thank you, Pascal. No pressure with the nickname. I'm very honored to have assumed responsibilities in the international region that, as you all know, combines China emerging markets as well as Australia and New Zealand. Initially, when I started in my new role, my focus was really in how best to support our colleagues in China at the unsettling time for them. And I have been really, truly impressed by their continued effort and passion to deliver on the values and our purpose. And I have a real strong confidence in the leadership that we have in place in China. China revenues last year had increased by 15% throughout the first nine months and overall year 2024 growth is 11% because of the quarter four decline of 3%. It is very important to note that that decline was primarily driven by year-end hospital ordering dynamic, which affected a few products, specifically Tagrisen for SIGA, as well as demand for our respiratory products that is lower given the mild start of the winter. And while we do expect some headwinds, specifically driven by VVP inclusion for our several medicines, we do expect the growth in China will continue. And especially in the longer term, we see a strong opportunity and we are fully committed to continue growing in China. If I think about emerging markets more broadly, I think you all know that we have been building our presence and capabilities for many years, accelerating our regulatory approvals and also doing our best to broaden our equitable access. And we have seen strong growth over the past several years, and we do expect that growth to continue. In 2024, overall emerging market growth was at 22%. The unmet need across the emerging markets is unprecedented or enormous. I mean, if you look at any therapy area, but specifically if you look at the areas where we work, just to give you one example, in emerging markets, it's estimated that 1.8 million people will be diagnosed with lung cancer that represents actually 70% of the overall lung cancer diagnosis in the globe. The substantial unmet need coupled with the increased investment in the healthcare as well as increased willingness to pay for the healthcare gives us an opportunity to deliver and sustain and significant growth going forward. Thank you, please advance to the next slide and I will give floor back to Pascal.

Thank you, Ishkha. So as you heard from Ishkha, there's enormous opportunities in the emerging markets, not only in China but also outside of China, and Ishkha knows the region very well. So we'll definitely have a big impact on our future growth, and we look forward to resolving the issues that we've been facing in China, of course. 2025 marks the beginning of an unprecedented catalyst-rich period for our company. We have talked about it before. We're looking forward to the results of high-value trial readouts this year for several of our existing medicines, including an HER2, Datraway, Infinzi, Breast 3, and Facenra. And importantly, we also anticipate the first phase 3 data for seven NMEs, seven, including Camisestron and Baxrostat, two medicines with which each which each have a potential to generate more than $5 billion in peak revenue. The value of our pipeline has been increasing steadily, and as Aradna communicated earlier this year, we now have more than 90 late-stage trials underway with an average non-risk-adjusted peak year revenue per trial of $1 billion. Looking only at the anticipated readouts in 2025 shown here, taken together, This represents over $15 billion in non-risk-adjusted PQR revenue potential. And that's why we have said a few times, by the end of this year, early 2026, everybody will have a good sense as to our chances to get to the $80 billion. You'll see the momentum that we have in our company, plus you will see the outcomes of those trials. With that, please advance to the next slide, and we'll hand over to Ahad now, who will take you through our financials.