The following is a summary of the AstraZeneca PLC (AZN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• AstraZeneca reported a revenue growth of 19% in Q1 2024, driven by significant product sales which saw an increase of 18%.

• Core earnings per share rose by 13% and the company announced a 7% increase in dividends.

• The company's net debt-to-EBITDA ratio stood at 1.9x at the end of Q1.

• The oncology and biopharma businesses saw revenue exceeding $5 billion while the rare diseases sector surpassed $2 billion.

• Significant contributors included Ultomiris with a revenue growth of 34%.

Business Progress:

• AstraZeneca saw strong growth across all therapy areas and reported positive trial results and numerous new approvals.

• The company is set to close transactions with Fusion and Amolyt, thus strengthening their radiopharmaceutical capabilities and expanding presence in rare endocrinology.

• Several key programs are in development, with Phase 1 data for the oral PCSK9 inhibitor set to be disclosed at an upcoming conference, while the two Phase 2b studies for the oral GLP-1 are expected to launch later in 2024.

• AstraZeneca has reported strong U.S. performance for oral oncology products like Calquence and Tagrisso, and expects its novel rescue therapy for asthma, Airsupra, to become a blockbuster molecule in the coming years.

• The company is focusing its growth efforts on Truqap, a pharmaceutical drug for breast and prostate cancer, setting it up to be a multiblockbuster.

• AstraZeneca is expanding into vaccine cell therapy and radioligand to modify diseases, backed by the recent acquisition of Gracell and initiation of promising trials.

More details: AstraZeneca IR

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