AstraZeneca PLC (NYSE:AZN) Q4 2019 Earnings Conference Call - Final Transcript

Feb 14, 2020 • 07:00 am ET


AstraZeneca PLC (NYSE:AZN) Q4 2019 Earnings Conference Call - Final Transcript


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Good afternoon. Welcome, ladies and gentlemen, to AstraZeneca's presentation, conference call and webcast for investors and analysts.

Before I hand over to Pascal Soriot in the auditorium, 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 with respect to the operations and financial performance of AstraZeneca. By their very nature, forward-looking statements involve risks and uncertainty and results may differ materially from those expressed or implied by these forward-looking statements. The company undertakes no obligation to update forward-looking statements.

[Operator Instructions]

I'll now hand you over to Chief Executive Officer at AstraZeneca, Pascal Soriot, as the meeting is about to start.

Pascal Soriot

Good morning, good afternoon everybody. Hello, everyone. It's Pascal Soriot, the CEO of AstraZeneca. Welcome to the full year and fourth quarter 2019 presentation, conference call and our webcast for investors and analysts. We are live in London. As always, our presentation is available on and we've also sent it to people on our distribution list.

Please turn to Slide 2, this is the safe harbor statement. We will be making comments on our performance using core financial numbers and at constant exchange rates or CER, which are both non-GAAP measures. We will also discuss other non-GAAP measures deemed helpful for investors and analysts. For a reconciliation between non-GAAP and GAAP measures, please see the results announcement issued this morning.

And finally, all numbers as always will refer to million US dollars and growth rates will be at CER and for full year 2019, until -- unless we state otherwise.

Please turn to Slide 3. We plan to spend about 40 minutes, 45 minutes on the presentation and stick to our time so that we don't go over the time. So we have enough time for Q&A.

For those on the phone, please join in the queue for questions by pressing star one. There is also an option to ask questions as part of the webcast. Because we would like to provide everybody with an opportunity to ask questions, we would like to ask you to please limit yourself to one question in the first one. I know I ask this every time and I'm never successful, but let me try again.

Today, I'm joined by the usual team Dave Fredrickson, our EVP for Oncology; Ruud Dobber, our EVP for BioPharmaceuticals business unit; Marc, our CFO; Jose Baselga, who is the VP in-charge of Oncology R&D; and Mene Pangalos, our EVP in-charge of BioPharmaceuticals R&D. We also have with us from Shanghai, Leon Wang, who is our EVP for the Emerging Markets, including China, and we also have other members of the team here in the room to address some of the questions. Leon, will be with us via video conferencing, you can't see him, but I can see him and we'll call him in and you'll see him when I call