Index<strong>20</strong>11 performance summary 23Accounting policies 146, 194Acquisitions <strong>and</strong> disposals 170<strong>Annual</strong> general meeting 112, <strong>20</strong>8Aptium Oncology 22Articles of association <strong>20</strong>6, <strong>20</strong>8Astra Tech 22Audit Committee 107Biologics 16, 18, 19Board 99Branches 111Business background <strong>and</strong> results overview 83Capitalisation 90Cardiovascular 58Cash <strong>and</strong> cash equivalents 148, 160Chairman’s statement 6Chief Executive Officer’s review 8Commitments <strong>and</strong> contingent liabilities 181Company history <strong>20</strong>3, <strong>20</strong>8Competition 15, 133Compliance <strong>and</strong> Group Internal Audit 43, 110Consolidated statement of cash flows 145Consolidated statement of changes in equity 144Consolidated statement of comprehensive income 142Consolidated statement of financial position 143Corporate Responsibilitysee Responsible BusinessDirectors’ interest in shares 125Directors’ remuneration 113Directors’ responsibility statement 140Dividends 6, 90, 170, <strong>20</strong>5Earnings per ordinary share 4, 154Emerging markets 16, 36, 77, 80, 132, <strong>20</strong>9Employee costs <strong>and</strong> share plans for employees 176Environmental sustainability 53Established markets 16, 36, 77, 78, <strong>20</strong>9Ethics 50, 51Finance income <strong>and</strong> expense 152Financial instruments 148, 161Financial position <strong>20</strong>10 93Financial position <strong>20</strong>11 88Financial risk management 93, 171Financial summary 1Gastrointestinal 62Glossary <strong>20</strong>9Goodwill 88, 93, 96, 147, 157Group financial record 198Group financial statements 139Growth drivers 15Independent auditor’s report 141, 192Infection 64Inflammationsee Respiratory & InflammationIntangible assets 88, 93, 95, 96, 147, 158Intellectual Property 34, 131, 132, 133Interest-bearing loans <strong>and</strong> borrowings 148, 161, 173, 195Inventories 148, 160Key performance indicators 23Leases 148, 190Litigation 96, 133, 136, 149, 183, 184, 194, 197Managing risk 129Market definitions <strong>20</strong>9Medicines 3, 4, 10, 32, 35, 56Neuroscience 67Nomination <strong>and</strong> Governance Committee 105, 106, 109Oncology 70Operating profit 1, 4, 23, 85, 91, 151Operational overview 5Other investments 148, 160Outsourcing 21, 135Patentssee Intellectual PropertyPatient safety 53People 19, 21, 25, 40, 176Pipeline 5, 19, 21, 24, 31, 32, 57, 130, 199Political donations 112Portfolio Investment Board (PIB) 110Post-retirement benefits 96, 138, 165Pricing 18, 37Principal risks <strong>and</strong> uncertainties 129Product revenue information 150Property, plant <strong>and</strong> equipment 148, 156Provisions for liabilities <strong>and</strong> charges 88, 93, 164Regulatory requirements 17Related party transactions <strong>20</strong>5Relations with shareholders 106Remuneration Committee 113Research <strong>and</strong> Development 16, 30, 147, 151Reserves 169Respiratory & Inflammation 73Responsible Business 47Rest of World 79, <strong>20</strong>9Restructuring 22, 151Results of operations <strong>20</strong>10 91Results of operations <strong>20</strong>11 85Safety, health <strong>and</strong> wellbeing 54Sales <strong>and</strong> Marketing 36Sales by therapy area 56Science Committee 109Segment information 154Senior Executive Team (SET) 102, 110Share capital 170, 196, <strong>20</strong>3Share repurchase 90, 111, 170, 196Statutory <strong>and</strong> other information 190Strategy 19Subsidiaries 191Supply <strong>and</strong> Manufacturing 38Taxation 89, 93, 97, 138, 147, 152, 189Taxation information for shareholders <strong>20</strong>6Trade <strong>and</strong> other payables 88, 93, 148, 164Trade <strong>and</strong> other receivables 88, 93, 148, 160Trade marksinside back coverTransactions with directors 124UK corporate governance 103UK Corporate Governance Code 103US 78, <strong>20</strong>9US corporate governance 109World pharmaceutical markets 16212 Index<strong>AstraZeneca</strong> <strong>Annual</strong> <strong>Report</strong> <strong>and</strong> <strong>Form</strong> <strong>20</strong>-F <strong>Information</strong> <strong>20</strong>11
Important information for readers of this <strong>Annual</strong> <strong>Report</strong>Cautionary statement regarding forward-looking statementsThe purpose of this <strong>Annual</strong> <strong>Report</strong> is to provide information to the members of theCompany. The Company <strong>and</strong> its Directors, employees, agents <strong>and</strong> advisors do notaccept or assume responsibility to any other person to whom this <strong>Annual</strong> <strong>Report</strong> isshown or into whose h<strong>and</strong>s it may come <strong>and</strong> any such responsibility or liability isexpressly disclaimed. In order, among other things, to utilise the ‘safe harbour’provisions of the US Private Securities Litigation Reform Act of 1995 <strong>and</strong> the UKCompanies Act <strong>20</strong>06, we are providing the following cautionary statement: This<strong>Annual</strong> <strong>Report</strong> contains certain forward-looking statements with respect to theoperations, performance <strong>and</strong> financial condition of the Group. Forward-lookingstatements are statements relating to the future which are based on informationavailable at the time such statements are made, including information relating to risks<strong>and</strong> uncertainties. Although we believe that the forward-looking statements in this<strong>Annual</strong> <strong>Report</strong> are based on reasonable assumptions, the matters discussed in theforward-looking statements may be influenced by factors that could cause actualoutcomes <strong>and</strong> results to be materially different from those expressed or implied bythese statements. The forward-looking statements reflect knowledge <strong>and</strong> informationavailable at the date of the preparation of this <strong>Annual</strong> <strong>Report</strong> <strong>and</strong> the Companyundertakes no obligation to update these forward-looking statements. We identifythe forward-looking statements by using the words ‘anticipates’, ‘believes’, ‘expects’,‘intends’ <strong>and</strong> similar expressions in such statements. Important factors that couldcause actual results to differ materially from those contained in forward-lookingstatements, certain of which are beyond our control, include, among other things,those factors identified in the Principal risks <strong>and</strong> uncertainties section frompage 130 of this <strong>Annual</strong> <strong>Report</strong>. Nothing in this <strong>Annual</strong> <strong>Report</strong> should be construedas a profit forecast.Inclusion of reported performance, Core financial measures <strong>and</strong> constantexchange rate growth rates<strong>AstraZeneca</strong>’s determination of non-GAAP measures together with our presentationof them within our financial information may differ from similarly titled non-GAAPmeasures of other companies.Statements of competitive position, growth rates <strong>and</strong> salesIn this <strong>Annual</strong> <strong>Report</strong>, except as otherwise stated, market information regarding theposition of our business or products relative to its or their competition is based uponpublished statistical sales data for the 12 months ended 30 September <strong>20</strong>11 obtainedfrom IMS Health, a leading supplier of statistical data to the pharmaceutical industry.For the US, dispensed new or total prescription data <strong>and</strong> audited sales data aretaken, respectively, from IMS Health National Prescription Audit <strong>and</strong> IMS NationalSales Perspectives for the 12 months ended 31 December <strong>20</strong>11; such data is notadjusted for Medicaid <strong>and</strong> similar state rebates. Except as otherwise stated, thesemarket share <strong>and</strong> industry data from IMS Health have been derived by comparing oursales revenue to competitors’ <strong>and</strong> total market sales revenues for that period. Exceptas otherwise stated, growth rates are given at CER. For the purposes of this <strong>Annual</strong><strong>Report</strong>, unless otherwise stated, references to the world pharmaceutical market orsimilar phrases are to the 53 countries contained in the IMS Health MIDAS Quantumdatabase, which amounted to approximately 96% (in value) of the countries auditedby IMS Health.<strong>AstraZeneca</strong> websites<strong>Information</strong> on or accessible through our websites, including astrazeneca.com,astrazenecaclinicaltrials.com <strong>and</strong> medimmune.com, does not form part of <strong>and</strong> is notincorporated into this <strong>Annual</strong> <strong>Report</strong>.External/third party websites<strong>Information</strong> on or accessible through any third party or external website does notform part of <strong>and</strong> is not incorporated into this <strong>Annual</strong> <strong>Report</strong>.FiguresFigures in parentheses in tables <strong>and</strong> in the Financial Statements are used to representnegative numbers.Trade marksTrade marks of the <strong>AstraZeneca</strong> group of companies appear throughout this <strong>Annual</strong> <strong>Report</strong> initalics. <strong>AstraZeneca</strong>, the <strong>AstraZeneca</strong> logotype <strong>and</strong> the <strong>AstraZeneca</strong> symbol are all trade marksof the <strong>AstraZeneca</strong> group of companies. Trade marks of companies other than <strong>AstraZeneca</strong>appear with a sign <strong>and</strong> include: Abraxane, a trade mark of Abraxis BioScience, LLC.;Cubicin, a trade mark of Cubist Pharmaceuticals, Inc.; CytoFab, a trade mark of ProthericsInc.; Kombiglyze XR <strong>and</strong> Komboglyze TM , trade marks of Bristol-Myers Squibb Company;Lipitor, a trade mark of Pfizer Irel<strong>and</strong> Pharmaceuticals; Onglyza, a trade mark of Bristol-MyersSquibb Company; Ranmark TM , a trade mark of Daiichi Sankyo Company Limited; <strong>and</strong> Teflaro,a trade mark of Forest Laboratories, Inc.Designed <strong>and</strong> produced byBoard photography Marcus LyonCover image by Iain Crockart, Gorky Park, MoscowThis report is printed on Heaven 42 which is FSC ® certified virgin fibre.The pulp is a mix, partly bleached using an Elemental Chlorine Free (ECF)process <strong>and</strong> partly bleached using a Totally Chlorine Free process. Printedin the UK by Pureprint using its alcofree ® <strong>and</strong> pureprint ® environmentalprinting technology, <strong>and</strong> vegetable inks were used throughout. Pureprintis a CarbonNeutral ® company. Both manufacturing mill <strong>and</strong> the printer areregistered to the Environmental Management System ISO14001 <strong>and</strong> areForest Stewardship Council ® chain-of-custody certified.
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