STRATEGIC RESPIRATORY TRANSACTION WITH ALMIRALL

ASTRAZENECA AGREES STRATEGIC TRANSACTION WITH ALMIRALL IN RESPIRATORY DISEASE

Business combination will provide boost to revenue as well as creating long-term
value, strengthening AstraZeneca's respiratory franchise with a complementary
pipeline and inhaled device capabilities in asthma and COPD

AstraZeneca today announced that it has entered an agreement to transfer to the
company the rights to Almirall's respiratory franchise for an initial
consideration of $875 million on completion, and up to $1.22 billion in
development, launch, and sales-related milestones. AstraZeneca has also agreed
to make various sales-related payments.

Upon completion of the transaction, AstraZeneca will own the rights for the
development and commercialisation of Almirall's existing proprietary respiratory
business, including rights to revenues from Almirall's existing partnerships, as
well as its pipeline of investigational novel therapies. The franchise includes
Eklira® (aclidinium); LAS40464, the combination of aclidinium with formoterol
which has been filed for registration in the EU and is being developed in the
US; LAS100977 (abediterol), a once-daily long-acting beta2-agonist (LABA) in
Phase II; an M3 antagonist beta2-agonist (MABA) platform in pre-clinical
development (LAS191351, LAS194871) and Phase I (LAS190792); and multiple pre
-clinical programmes. Under the agreement, Almirall Sofotec, an Almirall
subsidiary focused on the development of innovative proprietary devices, will
also transfer to AstraZeneca.

The business combination will give AstraZeneca immediate access to on-market
revenues, contributing to the company's return to growth. The company expects
the transaction to be neutral to Core EPS in 2015 and accretive from 2016.
AstraZeneca intends to finance the transaction from existing cash resources and
short-term credit facilities. Based on the anticipated timing of completion, the
transaction will have no impact on AstraZeneca's guidance for 2014.

Almirall's pipeline of novel respiratory assets and its device capabilities
further strengthen AstraZeneca's respiratory portfolio, which includes
Symbicort® and Pulmicort®, as well as the company's investigational medicines in
development. The addition of aclidinium and the combination of aclidinium with
formoterol, both in proprietary Genuair® device, will allow AstraZeneca to offer
patients a choice between dry powder inhaler and metered dose inhaler devices
across a range of molecules and combinations.

AstraZeneca and Almirall anticipate that, subject to local consultation and
legislation, a significant number of employees dedicated to the respiratory
business, including Almirall Sofotec employees, will transfer to AstraZeneca.

Pascal Soriot, Chief Executive Officer of AstraZeneca said: "Our agreement with
Almirall brings strategic and long-term value to AstraZeneca's strong
respiratory franchise, one of our key growth platforms. We will benefit from
immediate and growing product revenues which we anticipate will be rapidly
accretive to earnings. Chronic respiratory disease affects hundreds of millions
of people around the world. By combining our innovative portfolios and
leveraging AstraZeneca's global scientific and commercial capabilities, we will
strengthen our ability to address the entire spectrum of care in asthma and
COPD. I very much look forward to welcoming the Almirall people to our company."

Jorge Gallardo, President of Almirall said: "This important agreement allows us
to better develop our assets and expertise in respiratory with AstraZeneca, an
experienced player in this therapeutic area. It also allows us to better balance
the costs, risks and returns of the respiratory business while retaining an
important economic interest in its future success. All this constitutes a very
solid baseline to move more aggressively in specialty areas and particularly
towards becoming a global dermatology player. R&D will remain a key part of
Almirall's business going forward and hopefully a significant long-term growth
driver."

The transaction is subject to certain competition law clearances as well as
other customary terms and conditions. The companies anticipate the transaction
will complete by the end of 2014.

An overview presentation about the transaction will be available at:
www.astrazeneca.com/Investors.

NOTES TO EDITORS

About COPD

COPD (chronic obstructive pulmonary disease) is a progressive disease associated
mainly with tobacco smoking, air pollution or occupational exposure, which can
cause obstruction of airflow in the lungs resulting in debilitating bouts of
breathlessness. It affects an estimated 210 million people worldwide and is
predicted to be the third leading cause of death by 2020. Although COPD is
widely regarded as a disease of the elderly, 50 per cent of patients are
estimated to be between 50 and 65 years of age, meaning half of the COPD
population is likely to be affected at a stage in their life when they are at
the peak of their earning potential and are likely to have major family
responsibilities.

About Asthma

Asthma is a chronic inflammatory disorder of the airways in which the bronchi
are reversibly narrowed. It affects people of all ages and is a significant
source of morbidity and mortality worldwide. Asthma can be allergic (induced by
an immune response to inhaled allergens such as pollen, fungal spores or dust
mite particles) or non-allergic (induced by exercise, cough, viral respiratory
infection, or inhalation of smoke or chemicals in the workplace). The airway
narrowing characteristic of asthma is a response of the immune system to the
asthma trigger.

Severe persistent asthma is classified by the frequency of symptoms throughout
the day and night, use of reliever inhalers, interference with daily activities,
peak flow readings and whether asthma exacerbations require use of inhaled
corticosteroids (ICS) more than twice a year. Asthma treatment usually includes
ICS that reduce inflammation of the airways to prevent asthma symptoms and
exacerbations, combined with long-acting β2-agonist bronchodilators and a short
-acting β2-agonist or other bronchodilator for relief.

About Almirall

Almirall is a global company based in Barcelona dedicated to providing valuable
medicines through its R&D, agreements and alliances. Our work covers the whole
of the drug value chain. A consolidated profitable growth allows us to devote
our talent and efforts in the respiratory and dermatology areas, with a focused
interest in gastroenterology and pain. Our size enables us to be agile and
flexible so that we can accomplish the purpose of taking our innovative products
wherever they are needed.

Founded in 1943, Almirall is listed on the Spanish Stock Exchange (ticker: ALM)
and it has become a source of value creation for society due to its vision and
the commitment of its long-standing major shareholders. In 2013, its revenues
totalled €825 million and, with more than 3,000 employees, it has gradually
built up a trusted presence across Europe, as well as in the US, Canada and
Mexico. For more information please visit www.almirall.com

About AstraZeneca

AstraZeneca is a global, innovation-driven biopharmaceutical business that
focuses on the discovery, development and commercialisation of prescription
medicines, primarily for the treatment of cardiovascular, metabolic,
respiratory, inflammation, autoimmune, oncology, infection and neuroscience
diseases. AstraZeneca operates in over 100 countries and its innovative
medicines are used by millions of patients worldwide. For more information
please visit: www.astrazeneca.com

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30 July 2014

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