AstraZeneca PLC

Welcome to AstraZeneca's 9 Months and Q3 2026 webinar for investors and analysts. Before handing over to AstraZeneca, I'd like to read the safe harbor statement. The company intends to utilize the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Participants on this call may make forward-looking statements regarding AstraZeneca's operations and financial performance. Although we believe our expectations are based on reasonable assumptions, forward-looking statements, by their nature, involve risks and uncertainties, and may be influenced by factors that could cause actual results to differ materially from those expressed or implied by these statements. Any forward-looking statements made during this call reflect the knowledge and information available at the time of the call. The company undertakes no obligation to update these statements. Please carefully review the forward-looking statements disclaimer in the slide deck accompanying this presentation and webinar. There will be an opportunity to ask questions after today's presentation. If you'd like to ask a question please use the raise hand feature at any time during the call. With that, I'd now like to hand the conference over to the company. Thank you.

A warm welcome to AstraZeneca's nine-month and third-quarter 2026 presentation, conference call and webcast for investors and analysts. I'm Joris Silon, Head of Investor Relations, and before I hand over to Pascal and members of our executive team, I would like to cover some housekeeping items. All of the materials presented today are available on our AstraZeneca Investor Relations website. Next slide, please. This slide contains our forward-looking statements, including the safe harbor provisions, which I would encourage you to take the time to read. We will be making comments on our performance using constant exchange rates, RCER, or financial numbers and other non-GAAP measures. A non-GAAP to GAAP reconciliation is contained within the results announcement. All numbers quoted are in millions of US dollars and less stated otherwise. Next slide, please. This slide shows our agenda for today's calls. Following our prepared remarks, we will open the line for questions. And as usual, we will try to address as many questions as we can during the allocated time. Although, please limit the number of questions you ask to allow others a fair chance to participate in the Q&A. And with that, please advance to the next slide, and Pascal, over to you.

Thank you, Joris, and welcome, everybody. Next slide, please. I'm pleased to report that our strong growth momentum in pipeline delivery have continued for the first nine months of 2026. This reflects the progress we are making across our strategic priorities and overall the focus and the commitment of teams across our company. Total revenue grew 7% and core EPS increased 14%. Excluding Fasiga and Brillinta, total revenue grew 12%, demonstrating the underlying strengths of our board portfolio. Since our full year results in February, we have announced positive results from 12 Phase 3 programs. and we've achieved first approvals for four new medicines, including Atkama in the US. This brings our total number of approved new molecular entities to 14, as we progress towards our goal of delivering 20 new medicines by 2030. We've also presented positive phase 3 data for three new molecular entities, to the Rackimab in COPD, Epsinphotel's Alpha in HPP, and Sonivy, are first wholly owned ADC, including 18.2 positive gastric cancer. With commercial momentum continuing and a deep late-stage pipeline advancing, we are increasingly confident in our ability to deliver our 2030 ambition as well as sustainable long-term growth through the next decade. Next slide, please. Our strong performance is underpinned by the breadth of our therapy areas and our geographical footprint. In the first nine months, Oncology, Rare Disease, and RNI all delivered double-digit growth. Together, the modern offset, the expected headwinds, were seen from the loss of exclusivity of fast CIGAR and Brilinta and CVRN. We also delivered robust growth across the US, Europe, and the emerging markets outside of China. In China, growth continued to be impacted by volume-based procurement. But excluding this impact, China grew 13%, with growth across all therapy areas. Next slide, please. Over the first nine months of the year, we saw positive results from 12 important Phase III programs. Let me say a couple of words about some of these. So the Rackimab has enormous potential, and we are now developing it beyond COPD. Eltomiris and Argan is a blockbuster opportunity. I also want to come back on the Tagrisso franchise. A few years ago, We were told Tagrisso was going to be challenged by the launch of competitor regiments. Look at what we've done. The combination with Orpatis has the potential to drive both broader first-line use as well as longer Tagrisso-based treatment duration, keeping patients on Tagrisso rather than switching them off, and therefore protecting the franchise from newcomers. So we have really made tremendous progress with Tagrisso. Borger is another example of building the Infinzi franchise. And lastly, if Symphotase Alpha and Sunny V could both become $3-5 billion products, depending on the type of label we get. So you can see that we've added quite a number of substantial opportunities to our growth potential. Together, this positive readout represents more than $10 billion in non-risk-adjusted pitier sales potential, maintaining the scale of opportunity we outlined at the start of the year. And importantly, with the positive data in hand, much of the risk behind these opportunities has now been removed. This shows the strength and diversification of our pipeline and underpins our confidence in achieving our $80 billion ambition by 2030. And as I will show you next, the platforms and technologies we are investing in today position us to keep growing right beyond that. Next slide, please. This quarter, we announced an equity investment in Summit Therapeutics, together with clinical collaborations to combine Ivonecimab with Sonivy and Datraway, and plans to broaden our collaborations further. Under the terms of the agreement, each company will contribute their respective medicine for the planned combination trials, and jointly contribute to trial costs. Ivo is the leading PD-1 VEGF by Specific, a class we expect to play a role in selected tumor types. This is an example of how we are maximizing the value of our rapidly growing ADC portfolio. We believe ADCs will become the backbone of treatment across tumor types, and this partnership gives flexibility to combine them with the optimal next-generation immuno-oncology partner for each setting. These collaborations strengthen the core pillar of our oncology vision, building novel combinations and is of strategic benefit to the companies involved. We look forward to updating you as these programs progress. Next slide, please. Turning now to the longer term, our ambition is to keep growing well past 2030, and that is why we are investing today in the technologies we believe will change how a wide range of diseases are treated in the future. Across five platforms, The first nine months of 2026 have brought significant progress. Starting with weight management and cardiovascular risk factors, we expect the first phase 3 data for lauroprostate in the first half of 2027. We now have phase 3 trials ongoing for helicoglyprone, and we've initiated phase 3 trials for our selective amylin receptor antagonist, lenvalentide. In ADCs and radioconjugates, The Summit collaboration I described previously is another way we are maximizing the ADC opportunity. For our next generation immuno-oncology by specifics, we now have 15 phase 3 trials across 9 tumour types, 6 of which combine our by specifics with our EDCs. We expect the first phase 3 readouts for elvigostomic and volostomic in the second half of 2027. Our self-therapy and T-cell engagement portfolios are also advancing. We have 3 ongoing phase 3 trials of AZD0120 in multiple myeloma. and two phase 3 trials of serovatamig are progressing in B-cell lymphomas. Both platforms have been extended into autoimmune diseases with early trials underway, underscoring their broader therapeutic potential. Beyond the sleep programs, we have four further clinical stage cell therapies and four additional T-cell engages in early development, which will help us reach more patients across more disease areas. Together, These programs form a deep, late-stage pipeline of multiple opportunities that will underpin our next wave of growth. And you can expect a steady flow of news with more than 20 key phase 3 RIDAs planned for 2027. I will say more about this when I close. And with that, I'll hand over to Aradhana to take you through our financials. Please move to the next slide. Thank you.