Annual Review

AstraZeneca PLC
07 November 2002



                    ASTRAZENECA REPORTS SIGNIFICANT PROGRESS

                       ACROSS ITS PROMISING RESEARCH AND

                             DEVELOPMENT PORTFOLIO



AstraZeneca today updated analysts on the company's late stage development
products and projects; the progress of earlier stage products, notably in the
cardio-vascular and oncology therapeutic areas; and the improved productivity in
drug discovery, at its annual business review meeting in Alderley Park,
Cheshire, UK, a centre of excellence for Oncology Research and Development at
AstraZeneca.



Late Stage Development Progress and Product Line Extensions



•         CRESTOR has received its first approval in The Netherlands, and will
enter European Mutual Recognition Procedure in December.  The US NDA will be
supplemented with a data package in 1Q 2003; the Japan NDA was submitted in 2Q
2002.

•         EXANTA is set to be the first new oral anticoagulant for 50 years:

o        The first indication in prevention of venous thromboembolism (VTE) in
patients undergoing orthopaedic surgery was filed in Europe in July 2002.

o        Positive top-line results in the EXULT A study (confirming EXANTA's
efficacy in preventing VTE when compared to warfarin in US patients) announced
today will support the US filing for prevention of VTE in orthopaedic surgery,
scheduled for 4Q 2003.

o        The main chronic indication, the prevention of stroke in patients with
atrial fibrillation, based on the SPORTIF trials, will be filed in the US and
Europe in 4Q 2003.

o        Encouraging data from THRIVE III, the first study to report using
EXANTA in a chronic indication, were announced today and showed a significant
reduction in VTE events and no difference in bleeding when compared to placebo.
The study used a fixed dose of EXANTA without the need for coagulation
monitoring, which is normally required for warfarin.  A further indication for
the treatment of VTE, based on the THRIVE studies, will also be filed in Europe
in 4Q 2003.

o         Full details of EXULT A and THRIVE III will be presented at the
American Society of Hematology meeting in Philadelphia in December 2002.

•         IRESSA, the first epidermal growth factor receptor inhibitor, is
already approved in Japan.  In the US, IRESSA is under active review by the FDA,
following a positive US Oncology Drugs Advisory Committee (ODAC) recommendation.
  A further ODAC meeting is not anticipated.  The European filing is now
scheduled for 1Q 2003.

•         The completion of the EU Mutual Recognition Procedure for approval of
ARIMIDEX in early breast cancer, a significant market opportunity, was announced
today.  An approval has been granted in the UK and other European approvals
(Austria, Germany, Italy, Portugal and Spain) will follow.  ARIMIDEX was
approved for early breast cancer in 3Q 2002 in the US, and other reviews are
ongoing in the rest of world.

•         CASODEX is now approved for early prostate cancer (EPC) in 26 markets.
  An EPC indication for CASODEX in the US will be the subject of a US ODAC
meeting scheduled for December 18th.

•         FASLODEX has been approved for second-line treatment of breast cancer
in the US.  European submission for this indication is scheduled for 2003, while
the Japanese submission is under consideration.

•         NEXIUM is growing strongly with sales of $1.6 billion (MAT 3Q). New
indications for treatment of NSAID GI side effects and a new parenteral
formulation for the hospital setting will be submitted for approval in 2Q 2003.

•         SEROQUEL, now a $1 billion brand, has demonstrated efficacy in
treating bipolar disease (mania). Filing for this indication is scheduled for 1Q
2003 in the US and Europe.

•         Promising results for SYMBICORT in the treatment of chronic
obstructive pulmonary disease (COPD) (a $2.9 billion global market) were
announced, supporting the filing submitted to the EU earlier in 2002.

•         Additional significant line extensions are planned for FASLODEX,
IRESSA, EXANTA, ATACAND, SEROQUEL and CRESTOR.



New Cancer Therapies



•         Further information was provided on new cancer therapies that target
tumour growth mechanisms:

o        ZD6474, an anti-angiogenic, in phase II development, and AZD2171,
another anti-angiogenic in phase I development, both target the growth of blood
vessels of tumours.

o        ZD6126, a vascular targeting agent that will soon enter phase II
development, targets and destroys the vasculature of tumours, working to destroy
the tumour from within.

o         AZD4054, an endothelin antagonist in phase II development, works by
inhibiting the ETA receptor, which is responsible for tumour cell proliferation.

o        AZD0530, an anti-invasive designed to prevent tumours from spreading,
will enter clinical testing in 2Q 2003.

o        AZD3409, a prenylation inhibitor designed to inhibit proliferation of
cancer cells, will enter clinical testing in 2Q 2003.



New Cardiovascular Therapies



•         Positive phase II data has been generated with GALIDA (AZ242), a new
treatment for type II diabetes.

•         AZD6140, an anti-platelet approach to prevent blood clots (which can
lead to heart attacks and strokes) is currently in phase I development.

•         AZD7009, a new treatment for atrial fibrillation, is also now in phase
I development.



New CNS/Pain Therapies





•         Phase III clinical trials for NXY-059, a novel neuroprotectant for
acute stroke, will commence in early 2003.

•         Encouraging clinical data was presented on AZD3582, the first Cox
Inhibiting Nitric Oxide Donator (CINOD) for pain control, further demonstrating
its attractive efficacy and side effect profile, versus COX-2 selective NSAID's.



The full AstraZeneca development pipeline update is attached.



Drug Discovery Enhancements



•         Candidate drug (CD) delivery has increased by 20 per cent in the last
three years--one quality CD is now entering preclinical development each month.

•         The number of CD's that have progressed to clinical development has
doubled this year.

•         To increase the likelihood that CD's will progress through late-stage
development to market, AstraZeneca is:

o        Bringing new aspects of clinical medicine to the drug discovery process
-enabling better understanding of human diseases and how future drugs will work
to prevent and treat those diseases.

o        Front-loading risk in clinical development by introducing more
stringent safety and drug metabolism/pharmacokinetic (DMPK) testing earlier-
allowing for early identification of CD's that will not succeed.

•         200 new collaborations with leading academic centres and biotech
companies have been initiated in 2002, supporting AstraZeneca's drug discovery
strategy.



Tom McKillop, Chief Executive, AstraZeneca, said:



'The transformation of AstraZeneca's product portfolio continues apace with
today's significant news of CRESTOR's first approval in Europe; progress with
other late stage development projects; and the announcement of a raft of
exciting new compounds in early development.  A changing external environment
and the rapid adoption of new technologies are combining to provide new
challenges for the pharmaceutical industry, but they will also bring new
opportunities.  We are driving productivity not only in R&D, but also in our
overall business-bringing forward new indications for our key growth products
and enhancing our sales forces effectiveness. By operating in a creative, fast
and efficient manner, I am confident that AstraZeneca will continue to deliver
important new medicines and deliver top-tier financial performance.'



Jan Lundberg, Executive Vice President, Head of Global Discovery Research, in an
overview of the company's discovery strategy said:



'With the research environment increasingly focused on finding disease relevant
mechanisms combined with a plethora of fantastic new technologies, AstraZeneca
is working as one global team to improve the predictability of drug discovery.
We are introducing elements of clinical development in the earliest stages of
our activities to make our research as relevant to man as possible, and using
the latest technology for the early identification of projects unlikely to
succeed in development.  These actions will result in a much better ratio of
CD's reaching the market.  AstraZeneca has already been able to deliver a
fruitful pipeline that is admired across the industry, and we will continue to
populate that pipeline with novel quality compounds to provide added value and
benefits to patients worldwide, faster than ever before.'



Martin Nicklasson, Executive Vice President, Head of Clinical Development, in an
overview of the AstraZeneca portfolio said:



'AstraZeneca's key growth products have delivered strong business performances
in the past year, and will continue to as their indications are broadened
through aggressive life-cycle management programmes.  Underpinning an already
impressive portfolio of products in our key therapeutic areas, we are happy to
announce the progression of several promising early-stage research projects
including NXY-059, a novel neuroprotectant agent for stroke, GALIDA, a new
treatment for type II diabetes and lipid disorders, and our CINOD, AZD3582, a
new

treatment for pain.  These projects along with a score of others will ensure the
future success of AstraZeneca as a global leader in pharmaceutical research and
development.'



7 November 2002




Media Enquiries:              Steve Brown/Emily Denney (London)       [phone]/5034
                              Staffan Ternby (Sodertalje)             (8) 553 26107
                              Rachel Bloom (Wilmington)               [phone]

Analyst/Investor Enquiries:   Mina Blair-Robinson (London)            [phone]
                              Jonathan Hunt (London)                  [phone]
                              Staffan Ternby (Sodertalje)             (8) 553 26107
                              Ed Seage (Wilmington)                   [phone]
                              Jorgen Winroth (New York)               [phone]



For copies of the presentations from today's annual business review, please
visit www.astrazeneca.com.



This press release contains forward-looking statements with respect to
AstraZeneca's business. By their nature, forward-looking statements and
forecasts involve risks and uncertainties 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.
For a discussion of those risks and uncertainties, please see the company's
Annual Report/Form 20-F for 2001.



TRADE MARKS



The following brand names are trade marks of the AstraZeneca group of companies:

ARIMIDEX, ATACAND, CASODEX, CRESTOR, EXANTA, FASLODEX, GALIDA, IRESSA, NEXIUM,
SYMBICORT, SEROQUEL.


AstraZeneca Development Pipeline: NCEs and line extensions
7 November 2002



Gastrointestinal



NCE's


       Compound                  Mechanism                  Areas under         Phase        Estimated Filing
                                                           investigation                     MAA          NDA

AZD0865                Reversible acid pump inhibitor Acid related GI disease     I         >2005        >2005
(was AR-H044277)

AZD3355                Inhibitor of transient lower   Gastroesophageal reflux     I         >2005        >2005
                       esophageal sphincter           disease (GERD)
                       relaxations  (TLESR )



Line Extensions


Nexium(R)              Proton pump inhibitor          Treatment of NSAID GI     III       2Q 2003      2Q 2003
                                                      Side effects

Nexium(R)              Proton pump inhibitor          Parenteral formulation    III       2Q 2003      2Q 2003

Nexium(R)              Proton pump inhibitor          Prevention of NSAID GI    III       1H 2004      1H 2004
                                                      Side effects

Nexium(R)              Proton pump inhibitor          Extraeosophageal           II        >2005        >2005
                                                      reflux disease



Cardiovascular



NCE's


CrestorTM               Statin                         Hyperlipidemia            III        Filed        Filed
CrestorTM               Statin                         Atheroma                  III        >2005        >2005
CrestorTM               Statin                         Outcomes                  III        >2005        >2005
ExantaTM (melagatran)   Thrombin inhibitor (s.c)       Prevention of VTE         III        Filed        >2005
ExantaTM  (H376/95)     Thrombin inhibitor             Prevention of VTE         III        Filed       4Q 2003
ExantaTM  (H376/95)     Thrombin inhibitor             Prevention of stroke      III       4Q 2003      4Q 2003
                                                       in AF
ExantaTM  (H376/95)     Thrombin inhibitor             Treatment of VTE          III       4Q 2003       >2005
ExantaTM  (H376/95)     Thrombin inhibitor             Arterial/Post MI           II        >2005        >2005
AZ242                   PPAR agonist                   Diabetes /Metabolic        II        >2005        >2005
                                                       Syndrome
AZD6140                 ADP antagonist                 Arterial thrombosis        I         >2005        >2005
AZD7009                 Atrial Repolarisation Delaying Atrial Fibrillation        I         >2005        >2005
                        Agent (ARDA)
AZD9684                 CPU inhibitor                  Thrombosis                 PC        >2005        >2005
AZD0837                 Thrombin inhibitor             Thrombosis                 PC        >2005        >2005
AZD7806                 IBAT inhibitor                 Dyslipidaemia              PC        >2005        >2005



Line Extensions


Atacand(R)              Angiotensin II antagonist     Hypertension outcomes     III       4Q 2002*     4Q 2002*
                                                      (SCOPE)
Atacand(R)              Angiotensin II antagonist     CHF outcomes              III       4Q 2003      4Q 2003
                                                      (CHARM)
Atacand(R)              Angiotensin II antagonist     Diabetic retinopathy      III        >2005        >2005
Toprol-XL(R)            Beta-blocker                  HCTZ combination          III                     >2005

*submission for variation to existing label.



CNS



NCE's


     Compound                Mechanism            Areas under investigation   Phase         Estimated Filing
                                                                                            MAA           NDA
NXY-059            Free radical trapping agent    Stroke                       III         >2005         >2005
ZD 0947            K+ channel opener              Overactive bladder            II         >2005         >2005
AR-A2              5HT1symbol 98 /f 'Symbol' /s   Anxiety/Depression            I          >2005         >2005
                   12b antagonist
AZD1134            5HT1symbol 98 /f 'Symbol' /s   Anxiety/Depression            PC         >2005         >2005
                   12b antagonist
AZD5106            NK-2 antagonist                Overactive bladder            PC         >2005         >2005
AZD4750            Chemokine receptor antagonist  Multiple sclerosis            PC         >2005         >2005



Line Extensions


Seroquel(R)        D2/5HT2 antagonist             Granules                     III          2004          2004
Seroquel(R)        D2/5HT2 antagonist             Sustained release            III         Under         Under
                                                                                         evaluation    evaluation
Seroquel(R)        D2/5HT2 antagonist             Mania                        III        1Q 2003       1Q 2003
Zomig(R)           5-HT1B/1D receptor agonist     Nasal spray                  III        Launched       Filed



Oncology



NCE's


Faslodex(R)        Oestrogen Receptor Antagonist  2nd line Advanced breast     III         1Q 2003      Launched
                                                  cancer
Faslodex(R)        Oestrogen Receptor Antagonist  1st line Advanced breast     III          >2005        >2005
                                                  cancer
Iressa(R)          EGFR-TK inhibitor              NSCLC                        III        1Q 2003        Filed


ZD6474             Angiogenesis inhibitor         Solid tumours                 II         >2005         >2005
                   (Vascular endothelial cell
                   growth factor receptor
                   tyrosine kinase inhibitor)
ZD4054             Endothelin A receptor          Solid tumours                 II         >2005         >2005
                   antagonist
ZD6126             Vascular targeting agent       Solid tumours                 I          >2005         >2005
AZD2171            Angiogenesis inhibitor         Solid tumours and             I          >2005         >2005
                   (Vascular endothelial cell     haematological
                   growth factor receptor         malignancies
                   tyrosine kinase inhibitor)
AZD3409            Farnesyl-transferase inhibitor Solid tumours                 PC         >2005         >2005

                   ( FAR )
AZD0530            Non-receptor tyrosine kinase   Solid tumours                 PC         >2005         >2005
                   inhibitor
AZD4440            Vascular targeting agent       Solid tumours                 PC         >2005         >2005



Line Extensions


    Compound                Mechanism            Areas under investigation  Phase           Estimated Filing
                                                                                            MAA           NDA
Arimidex(R)       Aromatase inhibitor            Adjuvant Breast Cancer        III        Approved      Launched
Casodex(R)        Anti-androgen                  Early Prostate Cancer         III        Launched       Filed
Zoladex(R)        LHRH agonist                   Pre-menopausal                III        Launched

                                                 Adjuvant Breast Cancer
Iressa(R)         EGFR-TK inhibitor              Head & Neck cancer            III         >2005         >2005
Iressa(R)         EGFR-TK inhibitor              Breast cancer                  II         >2005         >2005
Iressa(R)         EGFR-TK inhibitor              Colorectal cancer              II         >2005         >2005



Respiratory and Inflammation



NCE's


AZD2315                 Immuno modulator            Rheumatoid Arthritis*      II          >2005         >2005
AZD4407                 5-lipoxygenase inhibitor    COPD                       I           >2005         >2005
AZD9056                 Ion channel blocker         Rheumatoid Arthritis*      I           >2005         >2005
AZD8309                 Chemokine receptor          Rheumatoid Arthritis*      PC          >2005         >2005
                        antagonist
AZD7140                 Chemokine receptor          Rheumatoid Arthritis*      PC          >2005         >2005
                        antagonist
AZD3342                 Protease Inhibitor          COPD                       PC          >2005         >2005
AZD0275                 Chemokine receptor          COPD                       PC          >2005         >2005
                        antagonist
AZD0902                 Ion channel blocker         COPD                       PC          >2005         >2005
AZD8955                 Collagenase inhibitor       Osteoarthritis             PC          >2005         >2005

*First indication; use in other diseases eg. COPD under consideration.



Line Extensions


Symbicort(R)Turbuhaler(R)  Inhaled steroid/fast onset, COPD                      III          Filed
                           long-acting B2 agonist

Symbicort(R)Turbuhaler(R)  Inhaled steroid/fast onset, Single therapy for        III         3Q 2003
                           long-acting B2 agonist      asthma

Symbicort(R) pMDI          Inhaled steroid/fast onset, Asthma                    III         4Q 2003       1H 2004
                           long-acting B2 agonist

Oxis(R) Turbuhaler(R)      Long-acting B2 agonist      COPD                      III          Filed
Oxis(R) pMDI               Long-acting B2 agonist      Asthma                    III         3Q 2003



Pain Control



NCE's


        Compound                  Mechanism               Areas under         Phase         Estimated Filing
                                                         investigation                      MAA           NDA

   AZD3582               COX inhibiting nitric oxide Acute /chronic             II         >2005         >2005
                         donator                     nociceptive pain

   AZD4282               NMDA Antagonist             Neuropathic pain           PC         >2005         >2005

   AZD 4717              COX inhibiting nitric oxide Acute /chronic             PC         >2005         >2005
                         donator                     nociceptive pain


Line Extensions

Naropin(R)              Sodium channel blocker      Spinal anaesthesia        III     Filed


Infection

Line Extensions


Merrem(R)               Carbapenem antibiotic       Skin and soft tissue      III                       4Q 2003
                                                    infections



            AstraZeneca Development Pipeline: Discontinued Projects

GI

              Compound                                    Mechanism
      Rofleponide                                 Oral steroid



CV

              Compound                                    Mechanism
      AZD7545                                      PDK Inhibitor

Respiratory and Inflammation


              Compound                                    Mechanism
       Rofleponide palmitate                       Intranasal steroid


Infection


              Compound                                    Mechanism
       Merrem(R) for use in neutropenics           Carbapenem antibiotic




Comments

As disclosure of compound information is balanced by the business need to
maintain competitive advantage, some compound information has not been disclosed
at this time.



Compounds in development are displayed by phase.



Abbreviations:



PC - Pre-clinical: Candidate Drug accepted for development but not yet
     administered to man.

MAA - Marketing Authorisation Application (Europe)

NDA - New Drug Application (USA)





7 November 2002


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