28 May 2025 | 5:02AM BST Europe Healthcare: Pharmaceuticals Setting the scene for SERDs ahead of ASCO updates We expect developments in the SERD (Selective Estrogen Receptor Degrader) class of breast cancer therapies to be a key focus for investors as we enter a catalyst rich 12-24 month period for the class that has relevance to multiple companies. With a 500K+ eligible patient population globally, we believe the class could be worth $15bn+ by 2035. Specifically in our European BioPharma coverage, AZN and ...

Core Insights - Eli Lilly and Company is set to present data on several investigational drugs at the 2025 ASCO Annual Meeting, including imlunestrant, olomorasib, LY4170156, and Verzenio [1] Group 1: Imlunestrant (Investigational Oral SERD) - The company will present patient-reported outcomes from the Phase 3 EMBER-3 trial for patients with ER+, HER2- advanced breast cancer [2] - Expanded safety analyses from the EMBER-3 trial will also be featured in a poster presentation [2] Group 2: Olomorasib (Investigational KRAS G12C Inhibitor) - Updated results from a Phase 1/2 study of olomorasib will be reported, showing preliminary evidence of CNS activity in combination with pembrolizumab for KRAS G12C-mutant advanced NSCLC and with cetuximab for KRAS G12C-mutant colorectal cancer [3] - The presentations will utilize data cut-off dates of January 15, 2025, and November 13, 2024 [3] Group 3: LY4170156 (Investigational ADC Targeting FRα) - Initial results from a Phase 1a/1b study of LY4170156 in patients with platinum-resistant ovarian cancer will be presented [4] - The study involves a humanized monoclonal antibody linked to a topoisomerase I inhibitor [4] Group 4: Verzenio (Abemaciclib) - The impact of body mass index (BMI) on the efficacy and safety of Verzenio in breast cancer patients will be discussed [8] - Verzenio is an approved treatment for certain HR+, HER2- breast cancers and is available in multiple strengths [12][13]

2025 年 05 月 19 日 行业点评 看好/维持 医药 医药 礼来 25Q1 收入增长强劲，关注 GLP-1 药物数据读出 研究助理：戎晓婕 E-MAIL：rongxj@tpyzq.com 一般证券业务登记编号：S1190123070050 (20%) (12%) (4%) 4% 12% 20% 24/5/20 24/7/31 24/10/11 24/12/22 25/3/4 25/5/15 ◼ 子行业评级 | 化学制药 | 无评级 | | --- | --- | | 中药生产 | 无评级 | | 生物医药Ⅱ | 中性 | | 其 他 医 药 医 | 中性 | | 疗 | | ◼ 推荐公司及评级 相关研究报告 证券分析师：周豫 E-MAIL：zhouyua@tpyzq.com 分析师登记编号：S1190523060002 证券分析师：霍亮 E-MAIL：huoliang@tpyzq.com 分析师登记编号：S1190523070002 报告摘要 事件： 近日，礼来发布 2025 年第一季度财报。 （来源：礼来，太平洋证券研究院） 核心观点： GLP-1 药物驱动核心业绩，2025Q1 收入增长强劲。礼来 ...