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CNBC Excerpts: CNBC Exclusive: CNBC’s Meg Tirrell Live From American Society of Clinical Oncology Conference Today

WHEN: Today, Monday, June 1st

WHERE: CNBC's Business Day Programming

Following are excerpts from the unofficial transcripts of CNBC EXCLUSIVE interviews with AstraZeneca Executive Director & CEO Pascal Soriot and Pfizer Chairman & CEO Ian Read throughout CNBC's Business Day programming live from the ASCO conference today. Video from the interviews are available on CNBC.com.

All references must be sourced to CNBC.

Pascal Soriot, AstraZeneca Executive Director & CEO

SORIOT ON CANCER DRUGS

We are at the very beginning of, I think, a long journey developing combinations of products that will really turn the immune system against the cancer. So it's really so exciting we're going to see the treatment of cancer completely transformed over the next five to ten years.

SORIOT ON COMBINATION THERAPY

We're even moving to combination now in Melanoma. The same is happening in lung cancer and we actually took the bet more than two years ago that combination was going to be the way to go and now we are looking like we could be the frontrunner in lung cancer treatment with combination regiments.

SORIOT ON CANCER TREATMENTS

It looks like different treatments may be needed depending on the cancer types. And so, you know, there's a lot of work that is happening today to better understand that. And as I said, we are at the beginning of a journey and this journey will end up with a series of combinations of products that will all probably be different depending on whether you go after lung cancer or colorectal cancer.

Ian Read, Pfizer Chairman & CEO

READ ON IBRANCE

As to grasp the product, we launched in the first quarter and since then we have taken our market share from 10 to 20% in the first line. We've doubled the number of patients, doubled the number of physicians that are prescribing, so the launch is going well which means it's been well received by physicians.

READ ON DRUG COST

I think you have to look at drug pricing – number one, it's a sensitive issue, it's an emotional issue, especially for patients; so we believe that the way to deal with this is that patients should have good quality insurance with low copays. And when they don't have good insurance or they have no insurance, Pfizer and most of the industry stands ready to provide our drugs at no cost or very little cost.

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