Healthcare Analyst

Wilfred Yuen

Thematic (Sector/Industry)

<ul>
<li>For World Lung Cancer Conference (WCLC 2026), we wrap-up key data updates, covering drugs from Akeso/SMMT, Hansoh/GSK, MediLink/Roche, RemeGen/AbbVie, Leads Biolabs, GenFleet, CSPC, Hengrui, and Henlius
</li>
<li>AI drugs news flow: 1) Lilly Tunelab announced agreements with Genscript, Twist, Gingko; 2) Harbour Bio developed world's first language model for heavy-chains-only antibodies; 3) ByteDance's Anew Labs raised US$290m</li>
<li>Other updates include LEGN's new CEO appointment, Chimagen/GSK licensing deal, China's 5-year plan for pharmaceutical industry</li>
</ul>


For World Lung Cancer Conference (WCLC 2026), we wrap-up key data updates, covering drugs from Akeso/SMMT, Hansoh/GSK, MediLink/Roche, RemeGen/AbbVie, Leads Biolabs, GenFleet, CSPC, Hengrui, and Henlius

AI drugs news flow: 1) Lilly Tunelab announced agreements with Genscript, Twist, Gingko; 2) Harbour Bio developed world's first language model for heavy-chains-only antibodies; 3) ByteDance's Anew Labs raised US$290m
Other updates include LEGN's new CEO appointment, Chimagen/GSK licensing deal, China's 5-year plan for pharmaceutical industry


<ul>
<li>For WCLC 2026 (World Conference on Lung Cancer), we summarise key updates from China-originated drugs, covering drugs from Akeso/SMMT, Hansoh/GSK, MediLink/Roche, RemeGen/AbbVie, Leads Biolabs, GenFleet, CSPC, Hengrui, and Henlius</li>
<li>Key highlights: 1) Akeso/SMMT's ivonescimab: updated OS/subgroup analyses from Harmoni-2 bodes well for Harmoni-3 (squamous NSCLC) and Harmoni-7 (PD-L1 TPS≥50%); 2) Hansoh/GSK's B7H3 ADC: 18.5 months OS in 2L SCLC;</li>
<li>See inside for key tables, further analysis, cross-trial comparison, upcoming catalysts</li>
</ul>


For WCLC 2026 (World Conference on Lung Cancer), we summarise key updates from China-originated drugs, covering drugs from Akeso/SMMT, Hansoh/GSK, MediLink/Roche, RemeGen/AbbVie, Leads Biolabs, GenFleet, CSPC, Hengrui, and Henlius
Key highlights: 1) Akeso/SMMT's ivonescimab: updated OS/subgroup analyses from Harmoni-2 bodes well for Harmoni-3 (squamous NSCLC) and Harmoni-7 (PD-L1 TPS≥50%); 2) Hansoh/GSK's B7H3 ADC: 18.5 months OS in 2L SCLC;
See inside for key tables, further analysis, cross-trial comparison, upcoming catalysts


Key Takeaways from WCLC 2026: Akeso/SMMT, Hansoh/GSK, MediLink/Roche, RemeGen/AbbVie...

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>GlaxoSmithKline plc reported a solid start to 2026 with first-quarter sales increasing by 5% to over GBP 7.6 billion.</li><li>Growth was primarily supported by a 14% rise in Specialty Medicines and strong vaccine performance, notably Shingrix, which delivered record quarterly sales above GBP 1 billion, driven by uptake in European immunization programs and U.S. inventory restocking.</li><li>Core operating profit grew 10% and earnings per share increased by 9%, supported by improved gross margins and stable selling, general and administrative expenses.</li></ul>

GlaxoSmithKline plc reported a solid start to 2026 with first-quarter sales increasing by 5% to over GBP 7.6 billion.Growth was primarily supported by a 14% rise in Specialty Medicines and strong vaccine performance, notably Shingrix, which delivered record quarterly sales above GBP 1 billion, driven by uptake in European immunization programs and U.S. inventory restocking.Core operating profit grew 10% and earnings per share increased by 9%, supported by improved gross margins and stable selling, general and administrative expenses.

GSK’s Hepatitis B Breakthrough Push: Why the U.S. & China Could Unlock a Massive Treatment Opportunity!

<ul><li>Pharmaceutical dealmaking at GSK has accelerated meaningfully under CEO Luke Miels, and the proposed $950 million acquisition of Canada-based 35Pharma marks the latest step in that strategic push.</li><li>The transaction, centered on early-stage cardiopulmonary drug candidate HS235, comes as GSK continues to rebalance its portfolio toward specialty medicines, long-acting biologics, and high-growth therapeutic categories.</li><li>While the company has deliberately avoided direct participation in the crowded GLP-1 obesity market, it has been expanding its exposure to obesity-related diseases such as MASH and cardiometabolic disorders.</li></ul>

Pharmaceutical dealmaking at GSK has accelerated meaningfully under CEO Luke Miels, and the proposed $950 million acquisition of Canada-based 35Pharma marks the latest step in that strategic push.The transaction, centered on early-stage cardiopulmonary drug candidate HS235, comes as GSK continues to rebalance its portfolio toward specialty medicines, long-acting biologics, and high-growth therapeutic categories.While the company has deliberately avoided direct participation in the crowded GLP-1 obesity market, it has been expanding its exposure to obesity-related diseases such as MASH and cardiometabolic disorders.

GSK’s 35Pharma Acquisition: Hidden Synergies That Could Boost Margins And Growth!

<ul><li>GSK reported robust financial performance for 2025, with sales increasing by 7% to over GBP 32 billion.</li><li>This growth was primarily driven by a strong performance in Specialty Medicines, which saw a 17% increase, complemented by vaccines.</li><li>The company also experienced an 11% rise in core operating profit and a 12% increase in EPS.</li></ul>

GSK reported robust financial performance for 2025, with sales increasing by 7% to over GBP 32 billion.This growth was primarily driven by a strong performance in Specialty Medicines, which saw a 17% increase, complemented by vaccines.The company also experienced an 11% rise in core operating profit and a 12% increase in EPS.

GSK’s HIV Strategy Is Shifting Long-Acting—And It Could Redefine the Market Through the 2030s!

United States

GSK PLC operates as a research-based pharmaceutical company. The Company develops, manufactures, and markets vaccines, prescription, and over-the-counter medicines, as well as health-related consumer products. GSK provides products for infections, depression, skin conditions, asthma, heart and circulatory disease, and cancer.

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GSK (GSK US)

China Healthcare Weekly Wrap (14-18 Sep)

Key news over the week: 1) WCLC cancer conference updates, 2) AI news flows (TuneLab/Genscript, Harbour Bio, ByteDance's Anew Labs), 3)others:...

Wilfred Yuen

Key Takeaways from WCLC 2026: Akeso/SMMT, Hansoh/GSK, MediLink/Roche, RemeGen/AbbVie...

For WCLC 2026 (World Conference on Lung Cancer), we summarise key updates for drugs from Akeso/SMMT, Hansoh/GSK, MediLink/Roche, RemeGen/AbbVie,...

Wilfred Yuen

GSK’s Hepatitis B Breakthrough Push: Why the U.S. & China Could Unlock a Massive Treatment Opportunity!

GlaxoSmithKline plc reported a solid start to 2026 with first-quarter sales increasing by 5% to over GBP 7.6 billion. Growth was primarily...

Baptista Research

GSK’s 35Pharma Acquisition: Hidden Synergies That Could Boost Margins And Growth!

Pharmaceutical dealmaking at GSK has accelerated meaningfully under CEO Luke Miels, and the proposed $950 million acquisition of Canada-based...

Baptista Research

GSK’s HIV Strategy Is Shifting Long-Acting—And It Could Redefine the Market Through the 2030s!

GSK reported robust financial performance for 2025, with sales increasing by 7% to over GBP 32 billion. This growth was primarily driven by a...

Baptista Research

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