Daily Brief Health Care: Astrazeneca Plc Spons Adr, Rigel Pharmaceuticals, Top Glove Corp and more

• AstraZeneca’s stock gained after a landmark drug pricing agreement with the White House, marking a significant policy pivot for the pharmaceutical industry.
• As part of the deal, AstraZeneca will provide all its prescription medications to Medicaid at “most favored nation” prices—effectively matching the lowest global rates.
• Additionally, the company will participate in the new TrumpRx.com platform, offering consumers direct access to discounted drugs.

• Rigel Pharmaceuticals is a commercial-stage biotechnology company focused on hematologic disorders, cancer, and rare immune diseases. Its lead product, TAVALISSE® (fostamatinib), is approved for chronic immune thrombocytopenia (ITP) and is driving revenue growth.
• The company is expanding its commercial portfolio with the addition of GAVRETO® and REZLIDHIA®, which are expected to contribute significantly to future revenue streams. The pipeline includes promising candidates like R289, an IRAK1/4 inhibitor, which has received Orphan Drug and Fast Track designations from the FDA.
• Rigel has demonstrated a strong growth trajectory with a significant increase in year-over-year revenue and has achieved profitability. The company’s strategy of reinvesting profits into its pipeline and strategic collaborations positions it for potential long-term value creation.

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• Top Glove Corp (TOPG MK) revenue grew 39% YoY to RM 3.5B in FY25 on the back of sales volume increasing 55%, because of competitive pricing.
• Drop in raw material costs resulted in FY25 EBITDA rising 79% YoY to RM 454M. The FY25 Core EBITDA margin of 13%, was a significant improvement from 10% in FY24.
• With the company’s rigorous cost control, competitive pricing efforts in fray and resulting in volumes strengthening, we prefer to be positive on the stock.