FIRST QUARTER RESULTS 2010

FIRST QUARTER RESULTS 2010

Revenue for the first quarter increased by 7 percent at constant exchange rates
(CER) to $8,576 million.  

-Emerging Markets revenue increased by 19 percent at CER; Company provides
enhanced regional revenue reporting. 

-Crestor sales increased by 27 percent at CER. 

Core operating profit increased by 10 percent at CER to $3,857 million.

-Benefit from revenue growth and cost discipline, partially offset by lower
gross margin. 

Core EPS increased by 23 percent at CER to $2.03.

-Core EPS benefited by $0.13 from net adjustments to tax provisions as a
consequence of the previously disclosed settlement with UK Tax Authorities and
developments in other transfer pricing matters.  The effective tax for the
quarter was 21 percent.  Company continues to anticipate the full year tax rate
to be around 27 percent.    

Reported EPS increased by 23 percent at CER to $1.91.

Net debt was $759 million at 31 March 2010.

-Strong cash generation from operations more than offset by the payment of the
second interim dividend of $2,367 million, first instalment of the tax
settlement, and investment in external pipeline opportunities during the
quarter. 
  
Core EPS target for the full year increased to the range of $6.05 to $6.35.

Financial Summary

[For table see pdf]

David Brennan, Chief Executive Officer, said:  “The first quarter results
reflect continued strong market performance for key brands like Crestor,
Seroquel and Symbicort.  We saw revenue growth in all major regions, including
another strong quarter in Emerging Markets. Looking forward, revenue comparisons
will become more challenging in the second half of the year as a result of the
uplift from Toprol-XL and H1N1 vaccine sales in 2009 and the expiration of the
Arimidex patent later this year. Based on the first quarter performance and the
outlook for the remainder of the year we have increased our Core EPS target. 
Our pipeline has been further strengthened during the quarter by the addition of
a new late-stage development project in rheumatoid arthritis from Rigel
Pharmaceuticals.” 



Media Enquiries:	
Neil McCrae (London)(020) 7304 5045
Chris Sampson/Sarah Lindgreen (London)(020) 7304 5130/5033
Tony Jewell (Wilmington)(302) 885 4594
Ann-Leena Mikiver (Södertälje)(8) 553 260 20
		
Analyst/Investor Enquiries	
Karl Hard (London)	(020) 7304 5322
Jonathan Hunt (London)(020) 7304 5087
Clive Morris (London)(020) 7304 5084
Ed Seage/Jörgen Winroth (US)(302) 886 4065/(212) 579 0506