Uh let me come at you with this question Muhammad before we uh get going here. If you were writing a short message to to policy makers right now, one key action they should take, what would it be and why. >> That we realize that our future is going to be at the tales of distribution, not in the belly.You know, for a long time we grew up with unifying themes. The Washington consensus, globalization. We are now living in a world of fragmentation, in a world that structurally changes.And what happens at the ta ...

医药生物 2025 年 11 月 23 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -19% -10% 0% 10% 19% 29% 2024-11 2025-03 2025-07 医药生物 沪深300 相关研究报告 《MNC 全面布局 FGF21 靶点，关注 国内投资机会—行业周报》-2025.11.16 《流感高发，关注相关投资机会—行 业周报》-2025.11.9 《集采+医保谈判稳步推进，关注相关 投资机会—行业周报》-2025.11.2 减肥赛道开启"长效革命" ，MNC 加速布局高价值平台 ——行业周报 | 余汝意（分析师） | 汪晋（分析师） | 石启正（联系人） | | --- | --- | --- | | yuruyi@kysec.cn | wangjin3@kysec.cn | shiqizheng@kysec.cn | | 证书编号：S0790523070002 | 证书编号：S0790525060003 | 证书编号：S0790125020004 | 以辉瑞、礼来、诺和诺德为代表的 MNC 正积极布局超长效管线与技术平台 11 月 13 日，辉瑞宣布已成功完成对 Mets ...

Core Viewpoint - The healthcare sector presents significant investment opportunities for long-term investors, particularly in stocks that demonstrate growth potential and resilience against market fluctuations [2]. Group 1: Pfizer - Pfizer has experienced a transformative period, shifting from slow growth to a surge in revenue due to the success of its COVID-19 vaccine developed with BioNTech [4]. - The company has strategically utilized profits from its COVID-19 products to acquire other firms, including a pivotal $43 billion acquisition of Seagen in 2023, enhancing its oncology portfolio with four approved cancer therapies [5][6]. - Pfizer's recent product launches include a range of treatments such as the RSV vaccine Abrysvo and the migraine treatment Nurtec, which are expected to drive future growth [7]. - The company reported total revenue of approximately $45 billion in the first nine months of 2025, with a 24% year-over-year increase in GAAP net income to $9.4 billion [10]. - Pfizer has a strong dividend history, delivering over $7 billion in cash dividends in the first nine months of 2025, with a current yield close to 7% [11]. - The company is focusing on non-COVID growth areas, including oncology and cardiometabolic treatments, while also pursuing acquisitions to counteract patent expirations [9][12]. Group 2: Viking Therapeutics - Viking Therapeutics is a clinical-stage biopharmaceutical company with its value largely dependent on successful clinical trials and regulatory approvals [13]. - The lead candidate, VK2735, has shown promising results in early trials for weight loss and diabetes improvement, targeting both GLP-1 and GIP receptors [14][15]. - The injectable formulation of VK2735 is in phase 3 trials and has demonstrated significant weight reduction, positioning it competitively against existing treatments [17]. - Viking has a diversified pipeline, including candidates for metabolic liver disease and a rare genetic condition, which may reduce reliance on a single product's success [18][19]. - The company ended Q3 2025 with over $715 million in cash, providing stability for ongoing research and development without immediate fundraising concerns [19][20].

NEW YORK & TOKYO--(BUSINESS WIRE)--Pfizer Inc. (NYSE: PFE) and Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, "Astellas†) today announced that the U.S. Food and Drug Administration (FDA) has approved PADCEV® (enfortumab vedotin-ejfv), a Nectin-4 directed antibody-drug conjugate (ADC), in combination with the PD-1 inhibitor Keytruda® (pembrolizumab) or Keytruda QLEX™ (pembrolizumab and berahyaluronidase alfa-pmph), as neoadjuvant treatment and then continued after cystectomy. ...

With the end of the pandemic, sales of Pfizer’s (PFE) COVID products, Comirnaty and Paxlovid, declined from their peak. However, Pfizer’s non-COVID operational revenues are improving, driven by its key in-line products like Vyndaqel, Padcev and Eliquis, recent launches and newly acquired products like Nurtec and those from Seagen (December 2023).The year 2023 was a record year for Pfizer in terms of new drug approvals. It received nine new medicine/vaccine approvals in 2023 that have begun to contribute to ...

Core Viewpoint - Noble Mineral Exploration Inc. has successfully completed a non-brokered private placement, raising approximately $1.03 million to fund exploration activities in Ontario [2][5]. Private Placement - Noble raised gross proceeds of approximately $1,027,997.94 through the issuance of 17,133,299 flow-through common share units priced at $0.06 per unit [2]. - Each flow-through unit consists of one common share and one-half non-flow-through common share purchase warrant, with full warrants exercisable for two years at an exercise price of $0.10 per share [2]. - The company paid approximately $43,050 in cash commissions and issued 647,497 broker warrants, each exercisable for two years at an exercise price of $0.06 per share [3]. Regulatory Approvals - The private placement has received conditional approval from the TSX Venture Exchange and is subject to final approval [4]. Use of Proceeds - The proceeds from the private placement will be utilized for exploration expenditures on the company's properties located in Ontario [5]. Extension of Warrants - Noble has extended the term of 7,933,333 common share purchase warrants, which will now expire in November 2027 and December 2027 [6]. - Final approval for the extension of the warrants has been received from the Exchange [6]. Company Overview - Noble Mineral Exploration Inc. is a Canadian junior exploration company with holdings in various nickel and gold exploration properties [8]. - The company holds mineral and/or exploration rights in approximately 70,000 hectares in Northern Ontario and 24,000 hectares in Quebec [9]. - Notable projects include Project 81, which hosts drill-ready targets for gold, nickel-cobalt, and base metals [10].

Core Viewpoint - Pfizer's shares have fallen below their 200-day moving average, indicating a potential bearish trend in the stock's performance [1]. Group 1: Stock Performance - On Thursday, Pfizer shares traded as low as $24.28, which is below the 200-day moving average of $24.58, reflecting a decline of approximately 1.6% for the day [1]. - The 52-week low for Pfizer shares is $20.915, while the 52-week high is $27.69, with the last trade recorded at $24.44 [3]. Group 2: Technical Analysis - The information regarding Pfizer's 200-day moving average and stock performance was sourced from TechnicalAnalysisChannel.com, indicating reliance on technical indicators for market analysis [3].

Investment Rating - The report maintains an "Outperform" rating for the pharmaceutical industry [2] Core Insights - Eli Lilly's revenue increased by 52% year-on-year in Q3 2025, driven by GLP-1 drugs, with Tirzepatide's quarterly revenue exceeding $10 billion for the first time, showing a 131% year-on-year growth [4] - Novo Nordisk faced intensified competition in the weight loss drug market, leading to a modest revenue growth of 1% for Ozempic and 6% for Wegovy in Q3 2025, prompting a downward revision of its annual performance guidance [4] - A total of 11 out of 16 companies in the report raised their revenue and/or net profit/EPS forecasts for the year, primarily due to better-than-expected sales of new products [4] Summary by Sections 1. Q3 2025 Performance Review - Eli Lilly's Q3 revenue reached $17.6 billion, with a 62% increase in sales volume, while net prices decreased by 10% [12] - Novo Nordisk's sales revenue for Q3 was 75 billion Danish Kroner, with a net profit decline of 27% [13] - JNJ's pharmaceutical segment achieved revenue of $15.6 billion, with significant contributions from oncology and neurology products [14] - AbbVie reported global sales of $15.8 billion, with notable growth in immunology and neurology sectors [15] - Gilead's revenue for Q3 was $7.3 billion, with a 4% increase in HIV product sales [16] 2. MNC Product Performance in the U.S. Market - The median time for MNC products to reach peak sales in the U.S. market is approximately 8 years, with first-in-class (FIC) products achieving this in about 7 years [4] 3. Revenue and Guidance Adjustments - Eli Lilly raised its full-year revenue guidance from $60-62 billion to $63-63.5 billion [12] - Novo Nordisk revised its revenue growth forecast down from 8%-14% to 8%-11% [13] - JNJ increased its full-year revenue guidance from $93.2-93.6 billion to $93.5-93.9 billion [14]

Key Points A high-yielding payout hasn't been enough reason for investors to buy Pfizer's stock. The pharmaceutical giant's valuation has been cut in half in just three years. Investors appear to be worried about what lies ahead for the business. 10 stocks we like better than Pfizer › Healthcare giant Pfizer (NYSE: PFE) has been offering a high yield for some time. But that hasn't been enough to get investors to buy up the stock. You can see that in its sluggish share price, and also in the fact ...

Investment Rating - The industry investment rating is "Outperform" [31] Core Insights - Pfizer's Q3 2025 revenue decreased from $17.7 billion to $16.65 billion, a decline of 7% year-over-year, primarily due to reduced demand for COVID-19 products [3][10] - Despite the revenue drop, Pfizer raised its full-year profit forecast, driven by growth in non-COVID business segments [3] - Total revenue for the first three quarters of 2025 was $45.02 billion, down 2% year-over-year [3][10] Summary by Sections Part 1: Q3 2025 Financial Overview and Key Events - Pfizer's Q3 2025 reported net income was $3.54 billion, a 21% decrease from the previous year, while adjusted income was $4.95 billion, down 18% [7][10] - Key events included reaching an agreement with the U.S. government to alleviate tariff threats and a partnership with Metsera to enhance its presence in the obesity market [13][11] Part 2: Core Product Sales Analysis - The oncology segment is the fastest-growing among Pfizer's three business units, with Ibrance sales at $3.083 billion, down 6% year-over-year [20] - Nectin-4 ADC drug Padcev generated $464 million in Q3 2025, a 13% increase, and is established as a standard treatment for certain cancers [20][29] - Rare disease drug Vyndaqel series sales reached $1.591 billion, up 7%, benefiting from ongoing promotion in developed markets [20] Part 3: Future Pipeline Milestones - Pfizer anticipates one regulatory decision and two Phase III data readouts potentially delayed to 2026 [23][25] - The regulatory decision involves BRAFTOVI for treating BRAF V600E mutation metastatic colorectal cancer [25]