Alex Hammond

Cavanaugh said about 50% of U.S. CARVYKTI use is already in lines 2 and 3 and education focuses on patient selection and bridging.

John Reed expressed confidence in dose/schedule but said event-driven studies leave readout timing (late 2026/early 2027) uncertain.

John Reed highlighted the head-to-head TYK2 inhibitor trial as demonstrating best-in-disease profile for ICOTYDE combining high efficacy, safety and convenience.

Taubert confirmed significant investment in ICOTYDE launch including field teams and best-in-class patient access and support services. Deferred specifics on DTC timing but emphasized investing to win.

Reed cited 10x in vitro potency vs competitor and effective APTD biomarker reductions at selected 100mg BID dose. Data readouts expected later in 2026 for both secondary stroke and AFib. Taubert positioned as $5B+ asset focused on safety superiority and bleeding risk reduction.

Duato framed as disciplined portfolio management to focus on high-growth markets. Wolk confirmed no further separations planned, 18-24 month timeline. 2026 guidance will still include ortho.

Taubert cited 600K new and 400K recurrent patients annually. Highlighted cross-enterprise IM/MedTech development and J&J Institute training. Declined to detail specific launch plans.

Taubert confirmed $5B+ expectation for CAPLYTA with AMDD filing as catalyst. Reed firmly stated no deprioritization of other neuroscience assets, citing different mechanisms.

Ilya Yuffa said Part D access activates in July with gradual build through 2026 and continued growth in 2027. Education across physicians, pharmacies, and consumers needed. Strong persistency already seen for Zepbound and Mounjaro.

Ken highlighted only 1 incidence of vomiting in the 3.9mg titration group out of 50+ patients. Sees big opportunity for patients who cannot tolerate incretins. Exploring GIP+GLP-1+amylin combination and mecupatide+oloralintide, seeking optimal simple permutation with minimal titration.

Ken explained ATTAIN-MAINTAIN rerandomized SURMOUNT-5 patients maximally tolerated on semaglutide or tirzepatide to orforglipron or placebo. Hopeful orforglipron provides simple daily oral option for weight maintenance. Framed as market expansion opportunity, not cannibalization.

Ken explained 29.9% placebo and 22-24% active discontinuation rates are consistent with analogous obesity studies like SURMOUNT-1. Drug-related AE discontinuations of 5-10% are expected for oral GLP-1.

Anne confirmed enrollment complete; event-based readout tracking to 2027 but could be earlier. Goal is preventing clinical progression in amyloid-elevated but presymptomatic patients.

Patrik shared that Lilly Direct vials represent low-to-mid single digit TRx but low teens of new starts. Rowe partnership is a software connection for authentic FDA-approved medicines, not a financial relationship.

Yancopoulos named the endpoint he considers decisive but did not address the regulatory or commercial path and timeline portion of the question.

Yancopoulos gave a very brief response asserting leadership position and confidence in plans without sharing any specific strategy details.

Crowe confirmed first half remains the best estimate for metastatic melanoma readout with no additional clarity. Adjuvant timing also first half; readouts may or may not coincide. Will release data shortly after availability.

Yancopoulos said study is powered for minimal Opdualag-like PFS benefit but with large enough sample for OS win where Opdualag failed. Two dose arms (low and high) versus KEYTRUDA. Results now expected first half of next year. Expressed continued excitement about the program.

Yancopoulos said the bar is matching efficacy of existing complement agents while offering a more convenient monthly self-administered subcutaneous regimen versus IV infusions. In other complement diseases, the approach may show actual efficacy improvement. McCourt added the large indication with significant unmet need.

Yancopoulos indicated a mix of expected and undisclosed indications with varying timelines. Confirmed Phase 3 enrollment beginning this year. Declined to disclose full indication slate or specific timing.

Bradner said monitoring has come down from 16 hours to 1-2 hours in some settings with ICANS infrequent, opening the door to further reductions via regulators.

Gordon highlighted established inroads with largest national retina specialist networks and strong device format preference. Did not give specific PAVBLU guidance but expressed confidence in Amgen's biosimilar experience to compete against new entrants.

Bradner said possible regulatory streamlining favors Amgen's differentiated manufacturing capabilities. Gordon emphasized the technical difficulty persists even with reduced clinical trial requirements. Bradway noted market is developing well and in line with expectations.

Gordon declined to project specific share splits but noted a large refractory population exists in atopic dermatitis with room for additional treatment options.

Bradway confirmed Amgen remains open to licensing and acquisitions globally, with a consistent focus on molecules where Amgen can add value regardless of geography.

Rob detailed the four-patent KEYTRUDA estate (compound Dec 2028, method of making May 2029, method of use Nov 2029); continues to plan conservatively off 2028 while confidence in defending the later patents has grown.

Dean declined to specify the BRUNELLO bar; Rob sized DME market at 1.6M US patients and $13B, with 30-40% non-responders to current anti-VEGF as the conversion opportunity.

Dean framed enlicitide as a platform for LDL combinations, Lp(a) combinations, and inflammatory axis combinations aiming for 20-30% cardiovascular outcome reductions.

Rob called the potential ACIP age extension positive but not a material US upside, noting the nine-year-old cohort is already approved.

Boshoff described first-in-class potential; Phase III VALOR readout expected first half 2026; approximately 400,000 US and 132,000 European patients affected annually with significant long-term morbidity.

Boshoff explained delay allows alignment of adult and pediatric Phase III starts in 2026; fourth dose pediatric data expected early next year; highlighted enhanced serotype 3 immunogenicity covering 20% of US/EU infections.

Bourla noted DTC was one of four presidential requests; highlighted Pfizer 4.0 website and Eliquis 360 launch; all major companies ready to execute similar programs.

Malik acknowledged competitive pressure from two new entrants affecting switching and new starts, plus IRA GTN impact, but expressed confidence in clinical profile and five-year real-world data.