3rd Quarter Results -Part 2/2

AstraZeneca PLC
23 October 2003

Consolidated Profit & Loss Account


For the nine months ended 30 September                                                     2003             2002
                                                                                            $m                $m
Sales                                                                                   13,974            12,940

Cost of sales                                                                           (3,412)           (3,267)
Distribution costs                                                                        (116)             (102)
Research and development                                                                (2,409)           (2,177)
Selling, general and administrative expenses                                            (4,907)           (4,337)
Other operating income                                                                     132               225
Operating profit                                                                         3,262             3,282

Net interest and dividend income                                                            71                24
Profit on ordinary activities before taxation                                            3,333             3,306

Taxation                                                                                  (917)             (886)
Profit on ordinary activities after taxation                                             2,416             2,420

Attributable to minorities                                                                 (15)              (12)
Net profit for the period                                                                2,401             2,408

Dividends to shareholders                                                                 (436)             (398)
Profit retained for the period                                                           1,965             2,010


Earnings per Ordinary Share                                                              $1.40             $1.39
Diluted earnings per Ordinary Share                                                      $1.40             $1.39
Weighted average number of Ordinary Shares in issue (millions)                           1,713             1,736
Diluted average number of Ordinary Shares in issue (millions)                            1,714             1,739




Consolidated Profit & Loss Account


For the quarter ended 30 September                                                        2003              2002
                                                                                            $m                $m
Sales                                                                                    4,803             4,282

Cost of sales                                                                           (1,175)           (1,113)
Distribution costs                                                                         (41)              (37)
Research and development                                                                  (812)             (757)
Selling, general and administrative expenses                                            (1,744)           (1,468)
Other operating income                                                                      70                14
Operating profit                                                                         1,101               921
Net interest and dividend income                                                            18                 2
Profit on ordinary activities before taxation                                            1,119               923
Taxation                                                                                  (308)             (242)
Profit on ordinary activities after taxation                                               811               681
Attributable to minorities                                                                  (8)               (6)
Net profit for the period                                                                  803               675
Dividends to shareholders                                                                    -                 -
Profit retained for the period                                                             803               675

Earnings per Ordinary Share                                                              $0.47             $0.39
Diluted earnings per Ordinary Share                                                      $0.47             $0.39
Weighted average number of Ordinary Shares in issue (millions)                           1,710             1,728
Diluted average number of Ordinary Shares in issue (millions)                            1,711             1,730




Consolidated Balance Sheet


                                                                                          2003              2002
As at 30 September                                                                          $m                $m
Fixed assets                                                                            10,058             9,023
Current assets                                                                          12,996            11,557
Total assets                                                                            23,054            20,580
Creditors due within one year                                                           (7,095)           (6,916)
Net current assets                                                                       5,901             4,641
Total assets less current liabilities                                                   15,959            13,664
Creditors due after more than one year                                                    (348)             (491)
Provisions for liabilities and charges                                                  (2,046)           (1,596)
Net assets                                                                              13,565            11,577
Capital and reserves
Shareholders' funds and minority interests                                              13,565            11,577




Consolidated Cash Flow Statement


                                                                                          2003              2002
For the nine months ended 30 September                                                      $m                $m
Cash flow from operating activities

Operating profit                                                                         3,262             3,282
Depreciation and amortisation                                                              900               700

(Increase)/decrease in working capital and other non-cash
movements                                                                                 (630)              153

Net cash inflow from operating activities before exceptional
items                                                                                    3,532             4,135

Outflow related to exceptional items                                                      (387)              (74)

Net cash inflow from operating activities                                                3,145             4,061

Returns on investments and servicing of finance                                             49                42
Tax paid                                                                                (1,007)             (678)
Capital expenditure and financial investment                                            (1,002)           (1,034)
Acquisitions and disposals                                                                  80                 -
Equity dividends paid to shareholders                                                     (770)             (820)
Net cash inflow before management of liquid resources and
financing                                                                                  495             1,571
Net purchase of shares                                                                    (501)             (871)
Exchange and other movements                                                                65                56
Increase in net cash funds in the period                                                    59               756

Net cash funds at beginning of period                                                    3,844             2,867
Net cash funds at end of period                                                          3,903             3,623


Notes to the Interim Financial Statements



1         BASIS OF PREPARATION AND ACCOUNTING POLICIES

The unaudited financial statements for the nine months ended 30 September 2003
have been prepared in accordance with UK generally accepted accounting
principles.  The accounting policies applied are those set out in AstraZeneca
PLC's 2002 Annual Report and Form 20-F.

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 2002 have been filed with the Registrar
of Companies.  The auditor's report on those accounts was unqualified and did
not contain any statement under Section 237 of the Companies Act 1985.

As part of AstraZeneca's objective to align with best accounting practice, cash
discounts arising from prompt payments of invoices were reclassified from cost
of sales to sales for the year ended 31 December 2002.  Comparatives were
reclassified and additional detail at product and territorial level are
available on the AstraZeneca website.  Both sales and cost of sales were reduced
by $213m in the first nine months of 2002.  Neither profits nor assets were
affected.



2         JOINT VENTURES AND ASSOCIATES

The group's share of joint ventures' sales for the nine months to 30 September
2003 amounted to $189m and $184m for the comparative period.  Share of joint
ventures' operating profits for the nine months to 30 September 2003 and for the
comparative period, were $nil.



3         NET CASH FUNDS

The table below provides an analysis of net cash funds and a reconciliation of
net cash flow to the movement in net cash funds.

                                          At 1 Jan             Cash           Other        Exchange      At 30 Sept
                                              2003             flow        non-cash       movements            2003
                                                $m               $m              $m              $m              $m

Loans due after 1 year                       (328)              18               -               6            (304)

Current instalments of loans                 (314)             319               -              (5)              -

Total loans                                  (642)             337               -               1            (304)
Short-term investments                      3,962             (490)              -              38           3,510
Cash                                          726               28               -              28             782
Overdrafts                                   (202)             119               -              (2)            (85)
                                            4,486             (343)              -              64           4,207
Net cash funds                              3,844               (6)              -              65           3,903

Issue of AstraZeneca PLC Ordinary
Shares                                                         (31)
Repurchase of AstraZeneca PLC
Ordinary Shares                                                532
Net cash inflow before management
of liquid resources and financing                              495






4         NINE MONTHS TERRITORIAL SALES ANALYSIS

                                                                                          % Growth
                                                Nine Months      Nine Months
                                                       2003             2002                        Constant
                                                         $m               $m          Actual        Currency

       USA                                            6,703            6,787             (1)             (1)
       Canada                                           519              423             23              15
       North America                                  7,222            7,210              -              (1)
       France                                         1,058              820             29               9
       UK                                               394              476            (17)            (25)
       Germany                                          623              503             24               5
       Italy                                            680              551             23               4
       Sweden                                           229              210              9              (8)
       Europe others                                  1,879            1,607             17               1
       Total Europe                                   4,863            4,167             17               -
       Japan                                            833              663             26              18
       Rest of World                                  1,056              900             17              18
Total                                                13,974           12,940              8               2



5         THIRD QUARTER TERRITORIAL SALES ANALYSIS

                                                                                          % Growth                      
                                                        3rd              3rd
                                                    Quarter          Quarter
                                                       2003             2002                       Constant 
                                                         $m              $m          Actual        Currency

       USA                                            2,271            2,190              4               4
       Canada                                           189              150             26              12
       North America                                  2,460            2,340              5               4
       France                                           370              287             29               8
       UK                                               120              151            (21)            (29)
       Germany                                          233              174             34              12
       Italy                                            230              172             34              12
       Sweden                                            77               72              7             (10)
       Europe others                                    632              523             21               5
       Total Europe                                   1,662            1,379             21               3
       Japan                                            297              251             18              14
       Rest of World                                    384              312             23              17
Total                                                 4,803            4,282             12               5




6         NINE MONTHS PRODUCT SALES ANALYSIS

                                                             World                                    US
                                          Nine         Nine                  Constant          Nine
                                        Months       Months       Actual     Currency         Months    Actual
                                          2003         2002       Growth       Growth           2003    Growth
                                            $m           $m            %            %             $m         %
Gastrointestinal:

Losec                                    2,037        3,508         (42)         (46)          785         (64)
Nexium                                   2,466        1,292          91           86         1,892          88
Others                                      53           45          18            9            18          38
Total Gastrointestinal                   4,556        4,845          (6)         (10)        2,695         (15)
Cardiovascular:

Zestril                                    342          733         (53)         (58)           65         (85)
Seloken                                  1,034          638          62           58           765          76
Atacand                                    543          409          33           23           197          30
Plendil                                    383          350           9            4           156           7
Tenormin                                   246          275         (11)         (17)           14         (67)
Crestor                                     88            -         n/m          n/m            56         n/m
Others                                     284          270           5           (7)           13          (7)
Total Cardiovascular                     2,920        2,675           9            2         1,266           5
Respiratory:
Pulmicort                                  674          575          17           10           348          44
Rhinocort                                  272          223          22           19           202          29
Symbicort                                  377          194          94           69             -           -
Accolate                                    76           92         (17)         (19)           49         (22)
Oxis                                        91           91           -          (12)            -           -
Others                                     110          106           4           (7)            -           -
Total Respiratory                        1,600        1,281          25           16           599          30
Oncology:
Zoladex                                    630          588           7           (1)          128         (18)
Casodex                                    647          460          41           30           187          40
Nolvadex                                   138          342         (60)         (62)           40         (83)
Arimidex                                   372          239          56           46           153          50
Iressa                                     136           26         n/m          n/m            54         n/m
Faslodex                                    56           19         195          195            55         189
Others                                      14           14           -           (7)            -           -
Total Oncology                           1,993        1,688          18           10           617          (5)
CNS:
Seroquel                                 1,059          788          34           31           796          25
Zomig                                      245          234           5           (2)          110         (12)
Others                                      20           23         (13)         (26)            -         n/m
Total CNS                                1,324        1,045          27           23           906          18
Pain, Infection and Other
Pharma:
Diprivan                                   339          326           4           (1)          170             8
Merrem                                     242          216          12            8            40           (22)
Local anaesthetics                         344          311          11            4            83             9
Other Pharma Products                      263          190          38           29           114           100
Total Pain, Infection and Other
Pharma                                   1,188        1,043          14            8           407            19
Salick Health Care                         200          170          18           18           200            18
Astra Tech                                 144          108          33           13            11            38
Marlow Foods                                49           85         (42)         (47)            2             -
Total                                   13,974       12,940           8            2         6,703            (1)

n/m          not meaningful

Other Pharma Products include contract manufacturing for Prilosec OTC



7         THIRD QUARTER PRODUCT SALES ANALYSIS

                                                             World                                    US
                                         3rd            3rd                  Constant           3rd
                                       Quarter      Quarter       Actual     Currency       Quarter      Actual
                                          2003         2002       Growth       Growth          2003      Growth
                                            $m           $m            %            %            $m           %
Gastrointestinal:

Losec                                      631        1,200         (47)         (52)          206         (74)
Nexium                                   1,000          481         108          102           786         114
Others                                      18           15          20           13             7          75
Total Gastrointestinal                   1,649        1,696          (3)          (8)          999         (13)
Cardiovascular:

Zestril                                    116          187         (38)         (44)           22         (73)
Seloken                                    286          201          42           37           189          39
Atacand                                    185          131          41           29            60          62
Plendil                                    144          147          (2)          (7)           67          (9)
Tenormin                                    81           85          (5)         (12)            1         (80)
Crestor                                     76           -          n/m          n/m            56           -
Others                                      96           89           8           (5)            4          33
Total Cardiovascular                       984          840          17            9           399          18
Respiratory:
Pulmicort                                  184          149          23           14            87          71
Rhinocort                                   86           79           9            6            66          12
Symbicort                                  128           72          78           54             -           -
Accolate                                    20           27         (26)         (30)           11         (39)
Oxis                                        31           30           3          (10)            -           -
Others                                      36           34           6           (6)            -           -
Total Respiratory                          485          391          24           14           164          28
Oncology:
Zoladex                                    224          206           9            -            44         (21)
Casodex                                    230          189          22           12            55         (23)
Nolvadex                                    38           85         (55)         (59)            4         (92)
Arimidex                                   136           95          43           32            52          27
Iressa                                      70           26         169          165            36         n/m
Faslodex                                    19           11          73           73            18          64
Others                                       5            3          67           67             -           -
Total Oncology                             722          615          17            9           209          (9)
CNS:
Seroquel                                   345          196          76           71           251          79
Zomig                                       83           68          22           12            32          10
Others                                       5            8         (38)         (51)           (2)        n/m
Total CNS                                  433          272          59           52           281          64
Pain, Infection and Other
Pharma:
Diprivan                                   105          104           1           (5)           47             (4)
Merrem                                      88           75          17            9            15            (21)
Local anaesthetics                         121          155         (22)         (28)           32            (26)
Other Pharma Products                      100           10         n/m          n/m            55            n/m
Total Pain, Infection and Other
Pharma                                     414          344          20           12           149              32
Salick Health Care                          66           57          16           16            66             16
Astra Tech                                  50           37          35           16             4             33
Marlow Foods                                -            30         n/m          n/m             -            n/m
Total                                    4,803        4,282          12            5         2,271              4

n/m          not meaningful

Other Pharma Products include contract manufacturing for Prilosec OTC

Shareholder Information



ANNOUNCEMENTS AND MEETINGS




Announcement of fourth quarter and full year 2003 results       29 January 2004


Announcement of first quarter 2004 results                        29 April 2004

Annual General Meeting 2004                                       29 April 2004

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

Announcement of third quarter 2004 results                      21 October 2004


DIVIDENDS


The record date for the first interim dividend paid on 6 October 2003 (in the
UK, Sweden and the US) was 22 August 2003.  Ordinary Shares traded ex-dividend
on the London and Stockholm Stock Exchanges from 20 August 2003.  ADRs traded
ex-dividend on the New York Stock Exchange from the same date.


The record date for the second interim dividend for 2003 payable on 6 April 2004
(in the UK, Sweden and the US) will be 20 February 2004.  Ordinary Shares will
trade ex-dividend on the London and Stockholm Stock Exchanges from 18 February
2004.  ADRs will trade 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 October
Second interim                                          Announced in January and paid in April



TRADEMARKS




The following brand names used in this interim report are trade marks of the
AstraZeneca group of companies:



Accolate  Arimidex  Astra Tech  Atacand   Casodex  Crestor  Diprivan  Exanta
Faslodex  Iressa  Losec Marcaine   Merrem   Nexium  Nolvadex  Oxis  Plendil
Prilosec Pulmicort  Pulmicort Respules Pulmicort Turbuhaler Rhinocort  Rhinocort
Aqua  Seloken  Seroquel  Symbicort  Tenormin  Toprol-XL Xylocaine 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                   S-103 97 Stockholm
The Causeway                 Providence              W1K 1LN                  Sweden
Worthing                     RI 02940-3013           UK
West Sussex                  US
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.  This Interim Report contains 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.


                      This information is provided by RNS
            The company news service from the London Stock Exchange