Healthcare Analyst

Wilfred Yuen

Thematic (Sector/Industry)

<ul>
<li>
Hutchmed licensed out ex-China rights of KRAS-EGFR cancer asset to GSK for US$1.3bn and Simcere licensed out a B-cell targeting trispecific to Roche for US$1.5bn. Both assets are preclinical</li>
<li>
Hengrui presented phase 3 results of SHR-1918 (ANGPTL3) and phase 2 results of HRS-5346 (Lp(a)) at ESC Congress. Separately, for Lp(a), Novartis yesterday said pelacarsen failed in a phase 3</li>
<li>Other updates/news include BeOne, Sino Biopharma, Genscript, Akeso, Hansoh, MediLink...
</li>
</ul>



Hutchmed licensed out ex-China rights of KRAS-EGFR cancer asset to GSK for US$1.3bn and Simcere licensed out a B-cell targeting trispecific to Roche for US$1.5bn. Both assets are preclinical

Hengrui presented phase 3 results of SHR-1918 (ANGPTL3) and phase 2 results of HRS-5346 (Lp(a)) at ESC Congress. Separately, for Lp(a), Novartis yesterday said pelacarsen failed in a phase 3
Other updates/news include BeOne, Sino Biopharma, Genscript, Akeso, Hansoh, MediLink...



China Healthcare Weekly Wrap (31 Aug - 4 Sep)

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

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Equity Bottom-Up

<ul><li>Novartis has moved to deepen its oncology pipeline with an agreement to acquire Pikavation Therapeutics, a wholly owned subsidiary of Synnovation Therapeutics, for $2 billion upfront and up to $1 billion in milestones, bringing in SNV4818, a pan-mutant-selective PI3Kα inhibitor now in Phase 1/2 testing.</li><li>The timing matters.</li><li>The company entered 2026 after delivering 8% sales growth in 2025, reaching a 40.1% core margin ahead of plan, and reiterating confidence in its medium-term growth algorithm despite a heavy patent-expiry cycle.</li></ul>

Novartis has moved to deepen its oncology pipeline with an agreement to acquire Pikavation Therapeutics, a wholly owned subsidiary of Synnovation Therapeutics, for $2 billion upfront and up to $1 billion in milestones, bringing in SNV4818, a pan-mutant-selective PI3Kα inhibitor now in Phase 1/2 testing.The timing matters.The company entered 2026 after delivering 8% sales growth in 2025, reaching a 40.1% core margin ahead of plan, and reiterating confidence in its medium-term growth algorithm despite a heavy patent-expiry cycle.

Novartis Is Building The Next Big Breast Cancer Franchise—Here’s How!

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Richard Howe

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Event-Driven

<ul>
<li>Novartis (NVS) has agreed to acquire Avidity Biosciences (RNA) in the first half of 2026.</li>
<li>As part of the transaction, Novartis will acquire Avidity’s RNA therapeutics platform and pipeline focused on neuromuscular diseases.</li>
<li>Avidity’s RNA programs targeting cardiovascular disease will be separated into a new independent company called Atrium (expected to trade under the same RNA ticker) and distributed to existing shareholders.</li>
</ul>


Novartis (NVS) has agreed to acquire Avidity Biosciences (RNA) in the first half of 2026.
As part of the transaction, Novartis will acquire Avidity’s RNA therapeutics platform and pipeline focused on neuromuscular diseases.
Avidity’s RNA programs targeting cardiovascular disease will be separated into a new independent company called Atrium (expected to trade under the same RNA ticker) and distributed to existing shareholders.


<ul><li>Novartis, a global healthcare company, released its Q4 and full-year 2025 financial results, highlighting both achievements and challenges.</li><li>The company posted an 8% growth in full-year sales, driven largely by its priority brands.</li><li>Core operating income (Core OpInc) increased by 14%, and the company achieved a core margin of 40.1% two years ahead of its target.</li></ul>

Novartis, a global healthcare company, released its Q4 and full-year 2025 financial results, highlighting both achievements and challenges.The company posted an 8% growth in full-year sales, driven largely by its priority brands.Core operating income (Core OpInc) increased by 14%, and the company achieved a core margin of 40.1% two years ahead of its target.

Novartis’ Next Growth Engine—B-Cell Therapies, Autoimmune Breakthroughs, and Massive Unmet Needs!

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Fosun Pharmaceutical initiated Phase 2 trial of FXS7553 for COPD in China. CSPC Pharma’s mpox mRNA vaccine candidate obtained clinical trial approval from the FDA.</li>
<li>Akeso secured NMPA approval for ivonescimab, in combination with chemotherapy, for the treatment of first-line squamous non-small cell lung cancer (sq-NSCLC). This indication marks ivonescimab’s third major approval.</li>
<li>Daiichi Sankyo’s Enhertu got China approval for the first-line treatment of breast cancer. Peptidream marked a milestone following the initiation of Phase 1 study for two radioligand therapies by Novartis.</li>
</ul>


Fosun Pharmaceutical initiated Phase 2 trial of FXS7553 for COPD in China. CSPC Pharma’s mpox mRNA vaccine candidate obtained clinical trial approval from the FDA.
Akeso secured NMPA approval for ivonescimab, in combination with chemotherapy, for the treatment of first-line squamous non-small cell lung cancer (sq-NSCLC). This indication marks ivonescimab’s third major approval.
Daiichi Sankyo’s Enhertu got China approval for the first-line treatment of breast cancer. Peptidream marked a milestone following the initiation of Phase 1 study for two radioligand therapies by Novartis.


APAC Healthcare Weekly (August 16) – Akeso, Fosun Pharma, CSPC Pharma, Daiichi Sankyo, Peptidream

Switzerland

Novartis AG manufactures pharmaceutical and consumer healthcare products. The Company uses innovative science and digital technologies to create transformative treatments in areas of great medical need. Novartis offers patent protected prescription medicine and generic pharmaceuticals and biosimilars.

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Novartis (NOVN SW)

China Healthcare Weekly Wrap (31 Aug - 4 Sep)

Key news this week: 1) licensing deals from Hutchmed and Simcere; 2) Hengrui's data of heart drugs in ESC. Separately, pelacarsen from Novartis...

Wilfred Yuen

Novartis Is Building The Next Big Breast Cancer Franchise—Here’s How!

Novartis has moved to deepen its oncology pipeline with an agreement to acquire Pikavation Therapeutics, a wholly owned subsidiary of Synnovation...

Baptista Research

Weekly Update (ANGI, MEDXF, RNA)

Novartis (NVS) has agreed to acquire Avidity Biosciences (RNA) in the first half of 2026. As part of the transaction, Novartis will acquire...

Richard Howe

Novartis’ Next Growth Engine—B-Cell Therapies, Autoimmune Breakthroughs, and Massive Unmet Needs!

Novartis, a global healthcare company, released its Q4 and full-year 2025 financial results, highlighting both achievements and challenges. The...

Baptista Research

APAC Healthcare Weekly (August 16) – Akeso, Fosun Pharma, CSPC Pharma, Daiichi Sankyo, Peptidream

Akeso’s ivonescimab and Daiichi Sankyo’s Enhertu got additional indications approvals in China. CSPC Pharma’s mpox mRNA vaccine candidate got FDA...

Tina Banerjee

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