AstraZeneca ECONOMIC

Supply Chain & Sourcing Relationships

• No public evidence identified in the reviewed corporate, Israeli-government, university, regulatory, UN, NGO-library, and targeted-search materials of AstraZeneca procuring from Israeli agricultural exporters, conducting seasonal-produce or white-label sourcing, or using an Israeli importer-of-record structure for non-pharmaceutical goods.^{1, 2, 3}

• A January 2020 SEC filing by Caesarea-based Itamar Medical Ltd. reports an approximately US$2 million purchase order from AstraZeneca AB, under an existing framework agreement, for EndoPAT devices for AstraZeneca clinical trials; delivery was expected during 2020, and the filing cautioned that the order was not necessarily indicative of future orders.³

• The available record establishes this discrete procurement relationship with an Israeli company, but does not establish repeated orders after 2020, a continuing supplier relationship, or Israeli manufacture by AstraZeneca.³

• No public evidence identified in the reviewed sources of settlement-origin goods entering AstraZeneca’s supply chain, settlement distribution, or a public company policy specifically addressing sourcing from occupied territories.^{1, 2, 4, 5}

• AstraZeneca’s Israel operation describes scientific R&D partnerships across Israel, while its local functions include clinical research, medical information, regulatory activity, sales, marketing, and administration.¹

• AstraZeneca states that its May 2019 memorandum of understanding with the Israel Innovation Authority was intended to support the Israeli healthcare ecosystem and investment in research and digital innovation; the company describes BeyondBio as the resulting health-innovation hub within its A.Catalyst network.¹

• The primary material reviewed does not support characterising this arrangement as a 2024 memorandum: AstraZeneca’s current Israel page dates it to May 2019 and identifies the Israel Innovation Authority as counterparty.¹

• No executed memorandum, signatures, monetary commitment, term, investment schedule, governance terms, intellectual-property provisions, or formal continuation or termination notice was identified in the reviewed sources.^{1, 6}

• Israel’s Innovation Authority announced in December 2020 that AstraZeneca, Pfizer, Merck, Teva, Israel Biotech Fund, and AWS had been selected to establish a digital-health and computational-biology innovation laboratory in Rehovot Science Park.⁷

• The Authority stated that the laboratory would receive a total government budget of NIS 32 million over five years, plus financing from consortium partners; it did not allocate either sum to AstraZeneca individually.⁷

• The Authority’s current innovation-labs listing identifies AstraZeneca as an AION Labs shareholder, while AION Labs identifies AstraZeneca as a partner in a venture-studio model for AI and computational-science pharmaceutical R&D.^{8, 9}

• An Innovation Authority 2025 publication states that AION Labs launched in 2021, had launched nine startups, and that those startups had collectively raised more than US$27 million; it does not attribute any portion of that amount to AstraZeneca.¹⁰

• The available AION Labs public sources do not disclose AstraZeneca’s capital contribution, governance rights, investment in individual ventures, or resulting intellectual-property rights.^{8, 9, 10}

Product Origin, Labeling & Regulatory Compliance

• AstraZeneca’s Israel site identifies local therapeutic focus areas as oncology; cardiovascular, renal and metabolism; and respiratory and immunology medicines.¹

• AstraZeneca’s Companies House record lists pharmaceutical manufacture, pharmaceutical wholesaling, and biotechnology research and development among its registered SIC activities.¹¹

• Israeli Ministry of Health product information identifies AstraZeneca Israel Ltd. as licence holder and importer for Zoladex LA 10.8mg, while identifying AstraZeneca UK Ltd., Macclesfield, as manufacturer.¹²

• A Ministry of Health-approved Symbicort Turbuhaler leaflet similarly identifies AstraZeneca (Israel) Ltd. as licence holder and importer at 1 Atirei Yeda Street, Kfar Saba, and AstraZeneca AB, Södertälje, Sweden, as manufacturer.¹³

• These documents establish pharmaceutical licence-holder and importer functions for the specified products, but do not establish importer status for every AstraZeneca product, import volumes, customs arrangements, or a general non-pharmaceutical importer structure.^{12, 13}

• No public evidence identified in the reviewed materials of Israeli manufacturing by AstraZeneca, a local production plant, warehouse, data centre, or production site; the documented footprint is an office and commercial, regulatory, clinical-research, data-compliance, and pharmaceutical-import activity.^{14, 1, 12, 13, 15}

• No public evidence identified in the reviewed sources of country-of-origin labeling proceedings, customs or DEFRA findings, or settlement-related product-labeling disputes involving AstraZeneca.^{1, 2}

• The reviewed sources do not disclose product-level Israeli sales, a complete list of local manufacturing locations, importer-of-record arrangements for all products, or Israel-specific revenue.^{1, 2, 12, 13}

Investment, Capital & Financial Exposure

• AstraZeneca’s 2025 group-holdings disclosure identifies five minority-held Israeli investments at 4 Oppenheimer Street, Building B, Rehovot: AION Labs Innovation Lab Ltd. (19.23%), CombinAble.AI Ltd. (11.25%), ProPhet Bio Ltd. (11.70%), Renasis Bio Ltd. (11.25%), and TenAces Biosciences Ltd. (12.50%).¹⁶

• The group disclosure presents these five interests as minority investments rather than wholly owned subsidiaries, and no public evidence identified in the reviewed corporate records that AstraZeneca controls any of them.¹⁶

• AstraZeneca’s audited disclosures identify AstraZeneca (Israel) Ltd. and Alexion Pharma Israel Ltd. as 100%-owned Israeli subsidiaries.^{14, 16}

• AstraZeneca completed its global acquisition of Alexion Pharmaceuticals, Inc. on 21 July 2021 for approximately US$13.3 billion in cash and 236,321,411 newly issued AstraZeneca shares.¹⁷

• Alexion Pharma Israel Ltd. appeared in Alexion’s 2021 affiliate directory and later appears as 100%-owned in AstraZeneca’s 2025 group disclosure, supporting its inclusion in the AstraZeneca group after that acquisition.^{18, 16}

• The reviewed primary record does not establish Alexion Pharma Israel Ltd.’s incorporation date, standalone purchase price, historic share-transfer instrument, workforce, turnover, manufacturing, or defence, settlement, or critical-infrastructure nexus.^{16, 17, 18, 19}

• Tel Aviv University’s May 2025 BEAM scholarship call describes the TAU–AZ BEAM Health Data Research Center as a collaboration with AstraZeneca, offering research grants of up to NIS 100,000 and NIS 5,000 scholarships for chronic-disease research using real-world data.²⁰

• The Israel Innovation Authority’s 2026 collaboration call describes AstraZeneca–BEAM as an AstraZeneca-led global real-world-evidence centre established with Tel Aviv University and invites Israeli companies and startups to propose technologies and projects.²¹

• The 2026 call states that the Authority may fund up to 50% of eligible pilot expenditure, while AstraZeneca–BEAM may provide expertise, services, facilities, lawful data access, and access to AstraZeneca’s global healthcare-system network; a separate collaboration agreement is required for an eligible company and AstraZeneca–BEAM.⁶

• The 2025–26 BEAM materials evidence AstraZeneca-linked Israeli research activity after July and November 2024, but do not establish selection, funding, completion, commercialisation, occupied-territory activity, or continuation of the separate 2019 memorandum.^{20, 21, 6}

• No public evidence identified in the reviewed sources of Israeli sovereign-bond or war-bond financing, settlement-related commercial investment, or Israeli critical-national-infrastructure designation.^{2, 4, 5}

Operational Presence & Market Activity

• AstraZeneca states that AstraZeneca Israel was established at the end of 2008, is based in Kfar Saba, and employs more than 100 people in sales, marketing, medical, regulatory, clinical-research, medical-information, and administration work.¹

• The 2025 group-subsidiary disclosure gives AstraZeneca (Israel) Ltd.’s address as Atirei Yeda 1, O-Tech 2, POB 8044, Kfar Saba 4464301, Israel, and Alexion Pharma Israel Ltd.’s address as 1 Atirei Yeda Street, O-Tech Building 2, fifth floor, Kfar Saba 4464301, Israel.^{14, 16}

• AstraZeneca’s 2024 Form 20-F listed AstraZeneca (Israel) Ltd. in Kfar Saba and Alexion Pharma Israel Ltd. in Ramat Gan; Alexion’s pre-acquisition 2021 affiliate directory also listed the latter at Abba Hillel Silver Road 16, Ramat Gan, while the 2025 disclosure lists Kfar Saba.^{2, 18, 16}

• These records document differing disclosed addresses over time rather than a confirmed change in Alexion Pharma Israel Ltd.’s legal identity.^{18, 16}

• AstraZeneca’s current Israeli privacy notice identifies the local company as a database controller under Israeli privacy law and provides AstraZeneca (Israel) Ltd.’s Kfar Saba address and Israeli data-protection contact.¹⁵

• The Israel Innovation Authority currently lists AstraZeneca among participating corporations and characterizes its activity as strengthening local health and biotechnology innovation.²²

• No public evidence identified in the reviewed primary corporate, Israeli-government, university, UN, NGO-library, and targeted-search materials of AstraZeneca operations, distributors, offices, sales locations, contracts, sourcing, or research facilities in West Bank settlements, East Jerusalem settlements, or the Golan Heights.^{14, 1, 4, 5}

• The supplied document-scoped scan found no AstraZeneca mention in the specified OHCHR settlement-business database materials, the UN Special Rapporteur report A/HRC/59/23, and other named NGO and financier reports; this does not establish database-wide or sector-wide absence.^{4, 5}

• No public evidence identified in the reviewed sources of Israeli Ministry of Defense or IDF contracts, defence-prime relationships, military-leave or reservist-pay policies, state ownership, government board appointments, or critical-national-infrastructure designation.^{1, 2, 4, 5}

Corporate Structure & Foundational Ties

• AstraZeneca PLC is an active public limited company incorporated in England and Wales on 17 June 1992, with registered office at 1 Francis Crick Avenue, Cambridge Biomedical Campus, Cambridge CB2 0AA.¹¹

• AstraZeneca’s 2025 Form 20-F identifies AstraZeneca PLC as the registrant, organized in England and Wales, with its principal executive office at the Cambridge address.²³

• AstraZeneca states that the company was formed in 1999 through the merger of Sweden’s Astra AB and the United Kingdom’s Zeneca PLC.²⁴

• The Companies House record shows legacy names including ICI BioScience PLC and Zeneca Group PLC and does not indicate Israeli incorporation or an Israeli headquarters.¹¹

• AstraZeneca’s group financial statements consolidate AstraZeneca PLC and its subsidiaries, and state that listed subsidiary equity is indirectly held by AstraZeneca PLC unless otherwise noted.¹⁶

• AstraZeneca identifies Michel Demaré as Non-Executive Chair, Pascal Soriot as Chief Executive Officer, and Aradhana Sarin as Chief Financial Officer.²⁵

• The current Board list comprises Demaré, Soriot, Sarin, Philip Broadley, Euan Ashley, Birgit Conix, Karen Knudsen, Diana Layfield, Anna Manz, Wan Ling Martello, Sheri McCoy, Tony Mok, and Marcus Wallenberg.²⁵

• The 2025 annual-report disclosure included Rene Haas and Nazneen Rahman in the Board composition for that year; their appearance in that dated record does not establish that they remained directors in September 2026.¹⁴

• AstraZeneca states that the Board is responsible for strategy, policy, risk oversight, and governance, while the Chief Executive Officer leads the Senior Executive Team and has executive responsibility for management and performance.²⁵

• AstraZeneca’s 2025 Form 20-F reports aggregate ownership by Directors and Senior Executive Team members of 544,012 ordinary shares, equal to 0.04% of the class, as at 31 January 2026.²³

• AstraZeneca’s 2025 major-shareholdings disclosure reports notified interests of BlackRock, Inc. (6.50%); The Capital Group Companies, Inc. (4.97%); Wellington Management Group LLP (4.20%); Wellington Management Company LLP (4.20%, included within the Group LLP aggregate); and Investor AB (3.33%).¹⁴

• No disclosed holder in that notified-major-holdings table held 10% or more; the issuer also reports that no other person had notified a notifiable interest, no major-shareholding change was disclosed between 31 December 2025 and 31 January 2026, and, so far as AstraZeneca is aware, it is not directly or indirectly owned or controlled by one or more corporations or by any government.¹⁴

• The notified-major-holdings table does not establish ultimate beneficial ownership of every underlying fund client or exclude non-notifiable changes below applicable thresholds.¹⁴

• No public evidence identified in the reviewed primary ownership disclosure that a disclosed major holder is Israeli-domiciled, Israeli state-controlled, or otherwise triggers an Israeli-nexus factor for AstraZeneca; this conclusion is limited to the disclosed-major-holder table.¹⁴

• Investor AB’s 3.33% notified interest also appears in AstraZeneca’s 2026 AGM materials in connection with Marcus Wallenberg’s non-independence determination.²⁶

• AstraZeneca’s current biographies identify Demaré’s outside directorships at Vodafone Group and Louis Dreyfus International Holdings, Soriot’s board roles at Agilent Technologies and Sustainable Markets Initiative Limited, and Wallenberg’s roles at SEB, Saab, Wallenberg Investments, FAM, Investor, EQT, and the Knut and Alice Wallenberg Foundation.^{25, 27}

• No public evidence identified in the capped, person-specific primary-source review of material personal, family-office, or operating-company investments by Demaré or Soriot that support the Israeli economy, Israeli tax base, Israeli state financing, settlement activity, or Israel/Palestine-specific political contributions.^{23, 25}

• No principal-wide absence conclusion is made for every director, Senior Executive Team member, Wallenberg-affiliated entity, family office, foundation, or investment vehicle because person-complete investment, grant, lobbying, and political-record checks were not completed.²⁵

• No public evidence identified in the reviewed sources of an Israeli founder, Israeli state ownership, Israeli tax-residency or permanent-establishment designation, or Preferred Technology Enterprise status for AstraZeneca PLC.^{11, 23, 14, 24}

Profit Repatriation & Economic Contribution

• AstraZeneca’s 2025 disclosures establish ownership of Israeli subsidiaries and minority Israeli investments, but the reviewed materials do not provide Israel-specific revenue, taxable profit, tax paid, dividend flows, transfer-pricing outcomes, or profit-repatriation amounts.^{14, 16}

• The documented local workforce, pharmaceutical-import function, data-controller role, and innovation activity support an economic presence in Israel, but the available sources do not quantify local payroll, procurement, capital expenditure, market share, exports, or net economic contribution.^{1, 22, 12, 13, 15}

• AstraZeneca’s Directors’ Report states that neither the company nor its subsidiaries made political donations or incurred political expenditure in the European Union or United Kingdom during 2025 requiring disclosure under the Companies Act 2006.²⁸

• AstraZeneca’s US political-engagement page states that AZPAC is funded solely by voluntary eligible-employee contributions and is registered with the Federal Election Commission as Zeneca Inc. PAC.²⁹

• Text searches of AstraZeneca’s published 2025 AZPAC/AlexionPAC disbursement report and Zeneca Inc. corporate-political-contributions report found no occurrence of “Israel” or “AIPAC”; these are document-scoped results and do not establish the absence of all Israel-related political activity.^{30, 31}

• No public evidence identified in the reviewed sources of a verified Israel- or Palestine-specific political contribution, lobbying intervention, public statement, settlement-related affiliation, military-related charitable grant, or company-level Israeli tax contribution.^{28, 29, 30, 31}