4th Quarter & Final Results - Part 2

AstraZeneca PLC
24 February 2000


PART 2

Consolidated Profit & Loss Account For Ongoing Operations Before Exceptional
Items

                                           4th       4th      
                                       Quarter   Quarter      Year      Year
                                          1999      1998      1999      1998
                                          USDm      USDm      USDm      USDm
------------------------------------     -----     -----     -----     -----

Sales                                    3,916     3,692    15,134    11,318
Cost of sales                           (1,045)     (939)   (4,087)   (2,651)
Distribution costs                         (57)      (57)     (230)     (201)
Research and development                  (711)     (632)   (2,472)   (2,103)
Selling, general and administrative 
  expenses                              (1,349)   (1,319)   (4,915)   (3,936)
Other operating income                      42        61       140       119
------------------------------------     -----     -----     -----     -----

Group operating profit                     796       806     3,570     2,546
Share of joint ventures' and 
  associates' operating profits            (14)      (15)      (10)      534
Net interest                                20         6        (4)       47
------------------------------------     -----     -----     -----     -----

Profit on ordinary activities 
  before taxation                          802       797     3,556     3,127
Taxation                                  (240)     (212)   (1,048)     (903)
------------------------------------     -----     -----     -----     -----

Profit on ordinary activities 
  after taxation                           562       585     2,508     2,224
Attributable to minorities                   2        (2)        -        (3)
------------------------------------     -----     -----     -----     -----

Net profit for the period                  564       583     2,508     2,221
------------------------------------     -----     -----     -----     -----

Earnings per Ordinary Share            USD0.32   USD0.33   USD1.41   USD1.25
Diluted earnings per Ordinary Share    USD0.32   USD0.33   USD1.41   USD1.24
------------------------------------     -----     -----     -----     -----

Weighted average number of Ordinary
  Shares in issue (millions)             1,777     1,779     1,776     1,779
------------------------------------     -----     -----     -----     -----

Diluted average number of Ordinary 
  Shares in issue (millions)             1,779     1,783     1,779     1,783
------------------------------------     -----     -----     -----     -----


Statutory Consolidated Profit and Loss Accounts including operations to be
discontinued, discontinued operations and exceptional items for the years 
ended 31 December 1999 and 1998 are provided on pages 13 and 14, respectively.
For the year ended 31 December 1998, a Pro Forma Consolidated Profit and Loss 
Account is provided on Page 15.


Consolidated Profit and Loss Account

                                     Continuing Operations Discont-   Total
                                                              inued   
                                                              oper-
                                                             ations
                                    -----------------------  
                                              Oper-
                                             ations         
                                    Ongoing   to be Except-      
                                      oper- discon-   ional
                                     ations  tinued   items
For the year ended 31 December 1999    USDm    USDm    USDm    USDm    USDm
-----------------------------------   -----   -----   -----   -----   -----

Sales                                15,134   2,657       -     654  18,445
Cost of sales                        (4,087) (1,510)    (37)   (403) (6,037)
Distribution costs                     (230)    (84)      -     (29)   (343)
Research and development             (2,472)   (297)   (110)    (44) (2,923)
Selling, general and 
  administrative expenses            (4,915)   (545) (1,015)   (110) (6,585)
Other operating income                  140      46       -       3     189
-----------------------------------   -----   -----   -----   -----   -----

Group operating profit                3,570     267  (1,162)     71   2,746
Share of joint ventures' and 
  associates' operating profits         (10)      2       -       1      (7)
Profits less losses on sale and 
  closure of operations                   -       -       -     237     237
Merger costs                              -       -  (1,013)      -  (1,013)
Net interest                             (4)      -       -       -      (4)
-----------------------------------   -----   -----   -----   -----   -----

Profit on ordinary activities 
  before taxation                     3,556     269  (2,175)    309   1,959
Taxation                             (1,048)    (93)    448    (122)   (815)
-----------------------------------   -----   -----   -----   -----   -----

Profit on ordinary activities
  after taxation                      2,508     176  (1,727)    187   1,144
Attributable to minorities                -      (1)      -       -      (1)
-----------------------------------   -----   -----   -----   -----   -----

Net profit for the financial year     2,508     175  (1,727)    187   1,143
Dividends to Shareholders                                            (1,242)
-----------------------------------   -----   -----   -----   -----   -----

Loss retained for the financial
  year                                                                  (99)
-----------------------------------   -----   -----   -----   -----   -----
Earnings per Ordinary Share 
  before exceptional items          USD1.41 USD0.10       - USD0.03 USD1.54
Earnings per Ordinary Share         USD1.41 USD0.10(USD0.97)USD0.10 USD0.64
Diluted earnings per Ordinary
  Share                             USD1.41 USD0.10(USD0.97)USD0.10 USD0.64
-----------------------------------   -----   -----   -----   -----   -----

Weighted average number of 
  Ordinary Shares in  issue
  (millions)                                                          1,776
-----------------------------------                                   -----

Diluted average number of 
  Ordinary Shares in issue
  (millions)                                                          1,779
-----------------------------------                                   -----


Consolidated Profit and Loss Account

                                     Continuing Operations  Discon-   Total
                                                             -inued   
                                                              oper-
                                                             ations
                                    -----------------------  
                                              Oper-
                                             ations         
                                    Ongoing   to be Except-      
                                      oper- discon-   ional
                                     ations  tinued   items
For the year ended 31 December 1998    USDm    USDm    USDm    USDm    USDm
-----------------------------------   -----   -----   -----   -----   -----

Sales                                11,318   2,790       -   1,294  15,402
Cost of sales                        (2,651) (1,511)      -    (799) (4,961)
Distribution costs                     (201)   (107)      -     (59)   (367)
Research and development             (2,103)   (286)      -     (84) (2,473)
Selling, general and administrative
  expenses                           (3,936)   (588)    (72)   (216) (4,812)
Other operating income                  119      61     163      10     353
-----------------------------------   -----   -----   -----   -----   -----

Group operating profit                2,546     359      91     146   3,142
Share of joint ventures' and 
  associates' operating profits         534       1       -       4     539
Profits less losses on sale and
  closure of operations                   -       -       -     (46)    (46)
Profits on sale of fixed assets           -       -      17       -      17
Net interest                             47       -       -       -      47
-----------------------------------   -----   -----   -----   -----   -----

Profit on ordinary activities 
  before taxation                     3,127     360     108     104   3,699
Taxation                               (903)   (126)    (16)    (41) (1,086)
-----------------------------------   -----   -----   -----   -----   -----

Profit on ordinary activities 
  after taxation                      2,224     234      92      63   2,613
Attributable to minorities               (3)      1       -       -      (2)
-----------------------------------   -----   -----   -----   -----   -----

Net profit for the financial year     2,221     235      92      63   2,611
Dividends to Shareholders                                            (1,061)
-----------------------------------   -----   -----   -----   -----   -----

Profit retained for the financial
  year                                                                1,550
-----------------------------------   -----   -----   -----   -----   -----

Earnings per Ordinary Share before
  exceptional  items                USD1.25 USD0.13       - USD0.06 USD1.44
Earnings per Ordinary Share         USD1.25 USD0.13 USD0.05 USD0.04 USD1.47
Diluted earnings per Ordinary Share USD1.24 USD0.13 USD0.05 USD0.04 USD1.46
-----------------------------------   -----   -----   -----   -----   -----

Weighted average number of 
  Ordinary Shares in issue
   (millions)                                                         1,779
-----------------------------------                                   -----

Diluted average number of
  Ordinary Shares in issue
   (millions)                                                         1,783
-----------------------------------                                   -----


Pro Forma* Consolidated Profit and Loss Account


                                     Continuing Operations  Discon-   Total
                                                             tinued   
                                                              oper-
                                                             ations
                                    -----------------------  
                                              Oper-
                                             ations         
                                    Ongoing   to be Except-      
                                      oper- discon-   ional
                                     ations  tinued   items
For the year ended 31 December 1998    USDm    USDm    USDm    USDm    USDm
-----------------------------------   -----   -----   -----   -----   -----

Sales                                13,033   2,790       -   1,294  17,117
Cost of sales                        (3,302) (1,511)      -    (799) (5,612)
Distribution costs                     (209)   (107)      -     (59)   (375)
Research and development             (2,181)   (286)      -     (84) (2,551)
Selling, general and administrative
  expenses                           (4,458)   (588)    (72)   (216) (5,334)
Other operating income                  119      61     163      10     353
-----------------------------------   -----   -----   -----   -----   -----

Group operating profit                3,002     359      91     146   3,598
Share of joint ventures'
  and associates' operating profits      (2)      1       -       4       3
Profits less losses on sale and
  closure of operations                   -       -       -     (46)    (46)
Profits on sale of fixed assets           -       -      17       -      17
Net interest                            (60)      -       -       -     (60)
-----------------------------------   -----   -----   -----   -----   -----

Profit on ordinary activities
  before taxation                     2,940     360     108     104   3,512
Taxation                               (856)   (126)    (16)    (41) (1,039)
-----------------------------------   -----   -----   -----   -----   -----

Profit on ordinary activities
  after taxation                      2,084     234      92      63   2,473
Attributable to minorities               (3)      1       -       -      (2)
-----------------------------------   -----   -----   -----   -----   -----

Net profit for the financial year     2,081     235      92      63   2,471
Dividends to Shareholders                                            (1,061)
-----------------------------------   -----   -----   -----   -----   -----

Profit retained for the financial
  year                                                                1,410
-----------------------------------   -----   -----   -----   -----   -----

Earnings per Ordinary Share
  before exceptional items          USD1.17 USD0.13       - USD0.06 USD1.36
Earnings per Ordinary Share         USD1.17 USD0.13 USD0.05 USD0.04 USD1.39
Diluted earnings per Ordinary 
  Share                             USD1.17 USD0.13 USD0.05 USD0.04 USD1.39
-----------------------------------   -----   -----   -----   -----   -----

Weighted average number of 
  Ordinary Shares in issue
   (millions)                                                         1,779
-----------------------------------                                   -----

Diluted average number of 
  Ordinary Shares in issue
   (millions)                                                         1,783
-----------------------------------                                   -----
* See Basis of Pro Forma Figures described in Note 2.


Consolidated Balance Sheet
               
                                                             1999      1998
At 31 December                                               USDm      USDm
-----------------------------------------                   -----     -----

Fixed assets
Tangible fixed assets                                       5,981     6,281
Goodwill and intangible assets                              3,736     2,440
Fixed asset investments                                       185       353
-----------------------------------------                   -----     -----

                                                            9,902     9,074
-----------------------------------------                   -----     -----

Current assets
Stocks                                                      2,156     2,029
Debtors                                                     4,470     3,963
Cash and short-term investments                             3,288     3,412
-----------------------------------------                   -----     -----

                                                            9,914     9,404
-----------------------------------------                   -----     -----

Total assets                                               19,816    18,478
-----------------------------------------                   -----     -----

Creditors due within one year
Short-term borrowings and current 
  instalments of loans                                       (378)     (377)
Other creditors                                            (6,641)   (5,273)
-----------------------------------------                   -----     -----

                                                           (7,019)   (5,650)
Net current assets                                          2,895     3,754
-----------------------------------------                   -----     -----

Total assets less current liabilities                      12,797    12,828
-----------------------------------------                   -----     -----

Creditors due after more than one year
Loans                                                        (739)     (761)
Other creditors                                              (463)      (40)
Provisions for liabilities and charges                     (1,253)   (1,045)
-----------------------------------------                   -----     -----

                                                           (2,455)   (1,846)
-----------------------------------------                   -----     -----

Net assets                                                 10,342    10,982
-----------------------------------------                   -----     -----

Capital and reserves
Shareholders' funds - equity interests                     10,302    10,929
Minority equity interests                                      40        53
-----------------------------------------                   -----     -----

Shareholders' funds and minority 
  interests                                                10,342    10,982
-----------------------------------------                   -----     -----


Consolidated Cash Flow Statement
                                           4th       4th   
                                       Quarter   Quarter      Year      Year
                                          1999      1998      1999      1998
                                          USDm      USDm      USDm      USDm
------------------------------------     -----     -----     -----     -----

Cash flow from operating activities
Operating profit before exceptional
   items                                   789       841     3,908     3,051
Depreciation                               204       186       756       680
Amortisation                                84        51       313       141
Decrease/(increase) in working 
  capital                                  356       233      (219)       77
Other non-cash movements                    27         7       (59)     (132)
------------------------------------     -----     -----     -----     -----

Net cash inflow from operating 
  activities before exceptional 
   items                                 1,460     1,318     4,699     3,817
(Outflow)/inflow related to
  exceptional items                       (475)       83    (1,586)       15
------------------------------------     -----     -----     -----     -----

Net cash inflow from operating
  activities                               985     1,401     3,113     3,832
------------------------------------     -----     -----     -----     -----

Dividends received from joint 
  ventures and associates                    -         -         3       262
------------------------------------     -----     -----     -----     -----

Returns on investments and 
  servicing of finance                      57        22        29       103
------------------------------------     -----     -----     -----     -----

Tax paid                                  (335)     (255)   (1,020)     (775)
------------------------------------     -----     -----     -----     -----

Capital expenditure and financial 
  investment
Net cash expenditure on fixed
  assets                                  (562)     (347)   (2,725)   (1,351)
New fixed asset investments                  -         -        (6)      (18)
------------------------------------     -----     -----     -----     -----

                                          (562)     (347)   (2,731)   (1,369)
------------------------------------     -----     -----     -----     -----

Acquisitions and disposals                  31        25     1,978    (2,013)
------------------------------------     -----     -----     -----     -----

Equity dividends paid to Shareholders     (416)     (223)   (1,216)     (995)
------------------------------------     -----     -----     -----     -----

Net cash (outflow)/inflow before
  management of liquid resources
   and financing                          (240)      623       156      (955)
------------------------------------     -----     -----     -----     -----

Management of liquid resources
Movement in short-term investments
  and fixed deposits (net)                                    (254)      974
-----------------------------------------                    -----     -----

Financing                                                     (182)     (205)
-----------------------------------------                    -----     -----

Decrease in cash in the period                                (280)     (186)
-----------------------------------------                    -----     -----


Statement of Total Recognised Gains and Losses

                                                             1999      1998
For the year ended 31 December                               USDm      USDm
-----------------------------------------                   -----     -----

Net profit for the financial year                           1,143     2,611
Exchange adjustments on net assets                           (740)     (178)
Translation differences on foreign 
  currency borrowings                                         132        (7)
Tax on translation differences on 
  foreign currency borrowings                                 (22)        2
Other movements                                                 -         2
-----------------------------------------                   -----     -----

Total recognised gains and losses 
  for the financial year                                      513     2,430
-----------------------------------------                   -----     -----


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