May 16, 2002
AstraZeneca K.K.
Shionogi & Co., Ltd.

TRANSLATION

AstraZeneca KK* (President: Martin Wright, hereinafter “AZKK”) and Shionogi & Co., Ltd. (President: Motozo Shiono, hereinafter “Shionogi”) today announced that an agreement has been signed to co-market Rosuvastatin Calcium for which AZKK filed an NDA on April 23, 2002 with the Ministry of Health, Labour and Welfare for the indications of hypercholesterolemia and familial hypercholesterolemia.

Rosuvastatin was licensed in April 1998 from Shionogi to AstraZeneca of the U.K. which has a high reputation for its R&D and marketing capabilities in the cardiovascular area, and the compound has been developed by AstraZeneca globally. Prior to the Japanese NDA filing, New Drug Applications were submitted in the US and Europe in 2001. Available clinical evidence indicates Rosuvastatin has an excellent profile and will be beneficial to a broad range of patients.

Due to the extreme competitiveness of the statin market in Japan, as is the case in many countries, and in order for Rosuvastatin to realize its full potential, powerful and extensive marketing and sales efforts will be essential. As a result AstraZeneca has decided to join forces with a powerful co-marketing partner, and this decision led to the co-marketing arrangement recently concluded with Shionogi. In Japan, AstraZeneca will be the manufacturer and AstraZeneca and Shionogi will market the product under one brand, using their respective distribution channels.

Both companies position Rosuvastatin as one of the megabrands to propel their future growth. Also, it is hoped that our co-marketing activity will accelerate the penetration of Rosuvastatin into the Japanese market and maximize our contribution to fulfil the unmet medical needs that exist in the area of total lipid control.

*AstraZeneca KK is appointed to act on behalf of IPR Pharmaceuticals, Inc., a wholly owned subsidiary of the AstraZeneca Group.