Sleep-breathing device maker ResMed plans to take global a doctor education program aimed at promoting the screening of patients seeking Ozempic-style weight loss drugs for apnea, calling the GLP1 bo... ...

Welcome back to Fast Money. Structure Therapeutic shares doubling today. The stock's best day on record.The biotech out with new data on its once daily GLP1 pill showing patients lost an average 11.3% of their body weight after 36 weeks of treatment. For more, let's bring in Missouo healthcare strategist Jared Holes. Jared, great to have you with us.Um, should Lily be concerned. Should investors in Lily be concerned about this. >> Hey Melissa, I really appreciate it.Um, maybe a little bit. I mean, structure ...

Data Center Industry & AI Buildout - Data centers are evolving from 50-150 megawatt facilities to 700+ megawatts to handle AI and compute loads [2] - Jacobs' data center project pipeline has grown fivefold in the last two quarters, with ongoing equipment orders and site selections [3] - Data storage world is currently at capacity, driving the need for continued data center buildout [5] - AI buildout is contributing significantly to the projected US growth of just under 25% (2.4%) [16] - Quantum computing facilities are more complex and represent the next phase of computing beyond AI data centers, currently focused on R&D [12][13][14] Healthcare & Life Sciences - GLP-1 buildout is in the "middle innings" for injectable forms, with new companies and delivery methods (tablets) driving further capacity and capital buildout [8] - Life sciences sector is experiencing growth in oncology and other cancer therapies, beyond just GLP-1s [17] Financial Performance & Tax - The company's effective tax rate increased to almost 40% in the last fiscal year, compared to under 17% the previous year, due to R&D tax credits and international taxes [9][11] - The full effect of the Trump tax policy is still being implemented, with expectations of seeing early elements of it from 2026 onwards [10] Infrastructure & Reshoring - Infrastructure spending related to water, transportation, energy, and power needs for urbanization is driving business [17] - There are tailwinds for domestic reshoring and construction beyond GLP-1s and AI [16]

Industry Concerns & Risks - The industry expresses concern that Berkshire Hathaway may have made a "bad mistake" in a certain investment, though the specific investment is not named [1] - The industry views cannabis investments as a "major bad bet" [1] - GLP-1 drugs are seen as negatively impacting the beer industry [1] - Tariffs on bottles and cans are directly affecting the industry [1] Company Performance & Activist Involvement - A company, described as a "poster boy," is perceived by many as having reached its lowest point, but the industry suggests a need to recognize underlying issues [2] - Elliott, an activist investor, previously engaged with a company (possibly the "poster boy" mentioned earlier) but has since exited, raising questions about the potential for improvement [2] Competitive Landscape & Valuation - Brown-Forman's performance is described as severely underperforming, with its stock price hitting new lows [3] - Diageo is considered overvalued by the industry [3]

Summary of Conference Call Records Industry Overview - The focus is on the innovative drug sector, particularly in the context of recent significant transactions and developments in the PD(L)1*VEGF and GLP1 fields [1][2]. Key Points and Arguments PD(L)1*VEGF Dual Antibody Developments - 康方生物 and Summit announced top-line data from the global clinical trial HARMONI for Ivosidenib targeting 2L EGFRm, indicating: - The PD(L)1*VEGF dual antibody shows certain effectiveness in the post-EGFRm mutation line, although the median follow-up time is short, necessitating longer follow-up for evaluation [1] - The HARMONI study validates the consistency of clinical results between China and the U.S. [1] - The FDA stated that statistically significant overall survival benefits are necessary to support the submission for market approval, which will influence Summit's timeline for BLA submission [1] - The primary focus remains on the first-line global clinical results for Ivosidenib [1] Collaboration and Licensing Opportunities - BMS and BNTX are collaborating on the development of PD(L)1*VEGF dual antibodies, with BMS committing to: - An upfront payment of $1.5 billion, $2 billion in non-contingent annual payments, potential milestone payments of $7.6 billion, and a 50:50 cost/profit sharing arrangement [2] - The continuous licensing of PD(L)1*VEGF assets reflects MNCs' optimism regarding these types of drugs, suggesting potential for identifying advantageous subpopulations for clinical benefits [2] - Other companies such as ROG and ABBV are also expected to have demand for similar assets, with domestic firms like 荣昌生物, 宜明昂科, 华海药业, 华兰生物, and 神州细胞 making strategic moves in this area [2] GLP1/GIP Dual Agonist Transactions - Regeneron and Hansoh Pharmaceutical reached a deal for the GLP1/GIP dual agonist, with Regeneron paying an upfront fee of $80 million, $1.93 billion in milestones, and a double-digit sales share [2] - The past year has seen ABBV, REGN, and JNJ entering the diabetes and weight loss market, expanding competition against existing players like LLY, NVO, MSD, ROG, and AZN [2] - The ongoing interest from MNCs in the weight loss sector is expected to lead to a resurgence of new drug developments, particularly following data releases from conferences like ADA [2] Recommended Companies - The following companies are recommended for attention: - 恒瑞医药, 华东医药, 联邦制药, 歌礼制药, 来凯医药 [3] Market Trends - There is optimism regarding the Chinese innovative drug sector due to ongoing licensing activities, which are expected to drive a bullish market trend [4] - MNCs have reiterated their interest in Chinese assets during recent earnings calls, reflecting a strong demand for domestic innovative drugs and low policy sensitivity [4] - The continuous licensing of Chinese innovative drugs is anticipated to lead to a revaluation of overseas valuations [4] - Recommended stocks for Pharma revaluation include 恒瑞医药, 华东医药, 三生制药, 联邦制药, 中国生物制药, 石药集团/新诺威, 先声药业, 康哲药业, 科伦药业; for Biotech global competitiveness: 益方生物, 泽璟制药, 一品红, 百利天恒, 科伦博泰生物, 贝达药业, 信达生物, 百济神州, 再鼎医药, 和黄医药 [4]