1st Quarter Results - Part 2

AstraZeneca PLC
29 April 2004

Consolidated Profit & Loss Account


                                                                                           2004             2003
For the quarter ended 31 March                                                               $m               $m

Sales                                                                                    5,074             4,735
Cost of sales                                                                           (1,145)           (1,135)
Distribution costs                                                                         (42)              (35)
Research and development                                                                  (943)             (782)
Selling, general and administrative expenses                                            (1,906)           (1,526)
Other operating income                                                                      41                15

Operating profit                                                                         1,079             1,272
Net interest and dividend income                                                            29                21

Profit on ordinary activities before taxation                                            1,108             1,293
Taxation                                                                                  (305)             (356)

Profit on ordinary activities after taxation                                               803               937
Attributable to minorities                                                                  (2)               (5)

Net profit for the period                                                                  801               932


Earnings per Ordinary Share                                                              $0.47             $0.54
Diluted earnings per Ordinary Share                                                      $0.47             $0.54
Weighted average number of Ordinary Shares in issue (millions)                           1,688             1,717
Diluted average number of Ordinary Shares in issue (millions)                            1,690             1,718






Consolidated Balance Sheet

                                                                                          2004              2003
At 31 March                                                                                 $m                $m

Fixed assets                                                                            10,525             9,566
Current assets                                                                          13,378            12,929
Total assets                                                                            23,903            22,495

Creditors due within one year                                                           (8,050)           (8,146)
Net current assets                                                                       5,328             4,783
Total assets less current liabilities                                                   15,853            14,349

Creditors due after more than one year                                                    (376)             (363)
Provisions for liabilities and charges                                                  (2,095)           (1,832)

Net assets                                                                              13,382            12,154

Capital and reserves
Shareholders' funds & minority interests                                                13,382            12,154






Consolidated Cash Flow Statement
                                                                                          2004              2003
For the quarter ended 31 March                                                              $m                $m

Cash flow from operating activities
Operating profit                                                                         1,079             1,272
Depreciation and amortisation                                                              310               272
Increase in working capital                                                               (161)             (401)
Other non-cash movements                                                                    48                31

Net cash inflow from operating activities before exceptional items                       1,276             1,174
Outflow related to exceptional items                                                        (1)              (12)

Net cash inflow from operating activities                                                1,275             1,162
Returns on investments and servicing of finance                                              7                (9)
Tax paid                                                                                  (266)             (252)
Capital expenditure and financial investment                                              (296)             (330)

Net cash inflow before management of liquid resources and
financing                                                                                  720               571
Net purchase of shares                                                                    (580)             (129)
Exchange and other movement                                                                 (2)               13

Increase in net cash funds in the period                                                   138               455
Net cash funds at beginning of period                                                    3,496             3,844

Net cash funds at end of period                                                          3,634             4,299




Notes to the Interim Financial Statements

1         BASIS OF PREPARATION AND ACCOUNTING POLICIES

The unaudited financial statements for the quarter ended 31 March 2004 have been
prepared in accordance with UK generally accepted accounting principles.  The
accounting policies applied are those set out in AstraZeneca PLC's Annual Report
and Form 20-F Information 2003.  The new information contained in Note 2 below
updates the disclosures concerning legal proceedings in the Company's Annual
Report and Form 20-F Information 2003.

These interim financial statements do not constitute statutory accounts of the
Group within the meaning of Section 240 of the Companies Act 1985.  Statutory
accounts for the year ended 31 December 2003 will be filed with the Registrar of
Companies following the Company's Annual General Meeting.  The auditor's report
on those accounts was unqualified and did not contain any statement under
Section 237 of the Companies Act 1985.



2         LEGAL PROCEEDINGS

PlendilTM (felodipine)

In April 2004, Zenith Goldline Pharmaceuticals, Inc. (now known as Ivax
Pharmaceuticals, Inc.) filed a motion for summary judgment on the issue of
non-infringement in the patent infringement action pending between AstraZeneca
Pharmaceuticals LP and Zenith/Ivax in the US District Court for the District of
New Jersey.  The patent infringement action against Zenith/Ivax, which
AstraZeneca filed in July 2001, resulted from a May 2001 letter to AstraZeneca
in which Zenith/Ivax declared its intention to market a generic version of
PlendilTM extended release tablets (felodipine) prior to the expiration of
AstraZeneca's patent covering the extended release formulation.  Zenith/Ivax
filed counterclaims in the litigation alleging non-infringement.  The parties
have completed the briefing on Zenith/Ivax's motion.  No hearing date for the
motion has been set.

Toprol-XLTM (metoprolol succinate)

In April 2004, AstraZeneca filed proceedings against Eon Labs Manufacturing Inc.
in the US District Court for the District of Delaware following Eon's
notification that it had filed an abbreviated new drug application with the US
Food and Drug Administration seeking approval to market generic forms of
Toprol-XLTM in the 25mg, 50mg, 100mg and 200mg doses.  AstraZeneca maintains
that its patents are valid and infringed by Eon's products.

Additional government investigations into drug marketing practices

Since publication of the Annual Report and Form 20-F Information 2003,
AstraZeneca has received two subpoenas from the US Attorney's Office in Boston,
Massachusetts.  The first seeks documents relating to promotional programmes
involving healthcare professionals at three regional healthcare entities in the
Boston area.  The second seeks documents relating to the marketing and sale of
three products (ZestrilTM, NaropinTM and CefotanTM) to a leading provider of
pharmacy services to long term care facilities.  AstraZeneca is co-operating
fully with the document requests.



3         TERRITORIAL SALES ANALYSIS
                                                                                          % Growth
                                                1st Quarter      1st Quarter
                                                       2004             2003                        Constant
                                                         $m              $m           Actual        Currency

       US                                             2,279           2,470              (8)             (8)

       Canada                                           218             156              40              19
       North America                                  2,497           2,626              (5)             (6)
       France                                           442             329              34              11
       UK                                               132             144              (8)            (17)
       Germany                                          226             183              23               2
       Italy                                            255             208              23               2
       Sweden                                            79              79               -             (18)
       Europe others                                    741             612              21               4
       Total Europe                                   1,875           1,555              21               2
       Japan                                            290             243              19               6
       Rest of World                                    412             311              32              21
Total                                                 5,074           4,735               7              (1)


4        PRODUCT SALES ANALYSIS

                                                          World                                    US
                                           1st          1st                  Constant          1st
                                       Quarter      Quarter       Actual     Currency      Quarter      Actual 
                                          2004         2003       Growth       Growth         2004      Growth
                                            $m          $m             %            %           $m           %
                                                                                                
Gastrointestinal:
Losec                                      540         692          (22)         (32)           91         (68)
Nexium                                     935         835           12            7           671           -
Others                                      21          18           17            -             7         (13)
Total Gastrointestinal                   1,496       1,545           (3)         (10)          769         (20)

Cardiovascular:
Zestril                                    105         108           (3)         (16)           12         (40)
Seloken                                    333         368          (10)         (13)          237         (17)
Atacand                                    209         206            1           (9)           68         (33)
Plendil                                    111         110            1           (6)           33         (15)
Tenormin                                    85          84            1          (10)           11         (15)
Crestor                                    129           3          n/m          n/m            72           -
Others                                      83          90           (8)         (21)            2         (50)
Total Cardiovascular                     1,055         969            9            1           435          (6)

Respiratory & Inflammation:
Pulmicort                                  282         251           12            5           157          18
Rhinocort                                   81          90          (10)         (13)           56         (18)
Symbicort                                  188         122           54           31             -           -
Accolate                                    30          31           (3)          (6)           22          (4)
Oxis                                        25          31          (19)         (32)            -           -
Others                                      42          38           11           (5)            -           -
Total Respiratory & Inflammation           648         563           15            4           235           5

Oncology:
Zoladex                                    213         193           10           (1)           47          12
Casodex                                    229         189           21            9            56          (7)
Nolvadex                                    31          61          (49)         (56)            1         (97)
Arimidex                                   166          93           78           62            62          88
Iressa                                      93          19          n/m          n/m            51           -
Faslodex                                    26          22           18           18            24           9
Others                                       4           4            -          (25)            -           -
Total Oncology                             762         581           31           19           241          28

Neuroscience:
Seroquel                                   448         444            1           (2)          337          (6)
Zomig                                       95         108          (12)         (18)           46         (33)
Diprivan                                   122         136          (10)         (15)           63         (22)
Local anaesthetics                         130         101           29           14            30          50
Others                                      17          18           (6)         (17)            3         (50)
Total Neuroscience                         812         807            1           (5)          479         (11)

Infection and Other:
Merrem                                      97          74           31           19            18          38
Other Products                              72          56           29           18            27         108
Total Infection and Other                  169         130           30           18            45          73

Salick Health Care                          71          65            9            9            71           9
Astra Tech                                  61          44           39           19             4          33
Marlow Foods                                 -          31         (100)        (100)            -        (100)
Total                                    5,074       4,735            7           (1)         2,279         (8)


n/m    not meaningful



Shareholder Information


ANNOUNCEMENTS AND MEETINGS


Annual General Meeting                                         29 April 2004

Announcement of second quarter and half year 2004 results      22 July 2004

Annual Business Review 2004                                    6 October 2004

Announcement of third quarter and nine months 2004 results     21 October 2004




DIVIDENDS


The record date for the second interim dividend for 2003 payable on 6 April 2004
(in the UK, Sweden and the US) was 20 February 2004.  Ordinary shares traded
ex-dividend on the London and Stockholm Stock Exchanges from 18 February 2004.
ADRs traded ex-dividend on the New York Stock Exchange from the same date.



Future dividends will normally be paid as follows:

  First interim              Announced in July and paid in September
  Second interim             Announced in January and paid in March



TRADEMARKS


The following brand names used in these interim financial statements are
trademarks of the AstraZeneca group of companies:


Accolate  Arimidex  Astra Tech  Atacand  Casodex  Cefotan  Crestor  Diprivan
Exanta  Faslodex  Iressa  Losec  Naropin  Nexium  Nolvadex  Oxis  Plendil
Prilosec  Pulmicort  Pulmicort Respules  Rhinocort  Rhinocort Aqua  Seloken
Seroquel  Symbicort  Toprol-XL  Zestril  Zoladex  Zomig



ADDRESSES FOR CORRESPONDENCE


Registrar and                Depositary              Registered Office         Swedish Securities Register Centre
Transfer Office              for ADRs                                          VPC AB

The AstraZeneca Registrar    JPMorgan Chase Bank     15 Stanhope Gate          PO Box 7822
Lloyds TSB Registrars        PO Box 43013            London                    SE-103 97 Stockholm
The Causeway                 Providence              W1K 1LN                   Sweden
Worthing                     RI 02940-3013           UK
West Sussex                  US
UK
BN99 6DA                                                                      
Tel: [phone]     Tel: [phone]  Tel: [phone]  Tel: [phone]



CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

In order to utilise the 'Safe Harbor' provisions of the United States Private
Securities Litigation Reform Act of 1995, AstraZeneca is providing the following
cautionary statement.  These interim financial statements contain
forward-looking statements with respect to the financial condition, results of
operations and businesses of AstraZeneca.  By their nature, forward-looking
statements and forecasts involve risk and uncertainty because they relate to
events and depend on circumstances that will occur in the future.  There are a
number of factors that could cause actual results and developments to differ
materially from that expressed or implied by these forward-looking statements.
These factors include, among other things, the loss or expiration of patents,
marketing exclusivity or trade marks; exchange rate fluctuations; the risk that
R&D will not yield new products that achieve commercial success; the impact of
competition, price controls and price reductions; taxation risks; the risk of
substantial product liability claims; the impact of any failure by third parties
to supply materials or services; the risk of delay to new product launches; the
difficulties of obtaining and maintaining governmental approvals for products;
and the risk of environmental liabilities.





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