Recent developments
Metabolic therapies advance
In incretin-based obesity and diabetes care, Lilly Q4 2025 Financial Results and 2026 Outlook reported higher revenue from GLP‑1/GIP products. The Novo Nordisk 2025 Financial Report noted double‑digit CER growth and the US launch of the Wegovy pill. Efficacy signals strengthened with REIMAGINE 2 trial results for CagriSema and Genentech’s Phase II CT‑388 data. Separately, Novo Nordisk Reports 6% Sales Growth in DKK but guides to 2026 pricing headwinds.
Capacity and manufacturing
To expand supply for injectable incretins, Lilly to build $3.5B manufacturing facility in Pennsylvania, targeting next‑generation weight‑loss medicines including retatrutide, with operations planned by 2031.
Oncology and immunology
Prostate cancer updates included a real‑world analysis where ERLEADA reduced death risk by 51% and a CHMP recommendation for AKEEGA in BRCA1/2 mHSPC. Merck Announces Q4 and Full‑Year 2025 Financial Results highlighted broad Phase 3 progress, while Roche Reports 7% Sales Growth in 2025 Results cited growth across key biologics. Genmab Reports 2025 DARZALEX Sales underscored sustained multiple myeloma demand.
Biologics collaborations
Partnering remained active: WuXi Biologics and Vertex license a trispecific T‑cell engager; WuXi Biologics and Sinorda Biomedicine partner on SND006; and WuXi Biologics partners with HanchorBio on fusion proteins. Separately, Boehringer Ingelheim and Simcere collaborate on SIM0709, a dual‑target TL1A/IL‑23 antibody for IBD.
Strategy and outlook
Takeda Announces 2026 Leadership and Structure Changes to accelerate execution, while its Q3 FY2025 Results emphasized cost control and late‑stage filings. Companies issued cautious 2026 guidance reflecting competition, pricing, and one‑time charges, alongside continued investment in late‑stage pipelines and manufacturing scale‑up.