Pharmaceuticals Sector Update : Pharma Weekly - ICYMI by Emkay Global Financial Services Lt
This is the fourteenth edition (week ending 17-May-26) of our Pharma Weekly – In case you missed it. Key developments in the past week:
1) Sandoz received European Commission approvals for biosimilars Bysumlog (Insulin Lispro) and Dazparda (Insulin Aspart), developed by Gan and Lee Pharma (read-through for Biocon).
2) Daiichi Sankyo has outlined plans to become a top 5 global oncology player by 2035, targeting total sales of USD19bn and oncology sales of USD14.5bn by 2030, driven by its ADC portfolio (including Enhertu and Datroway).
3) The USFDA has completed an inspection of Alvotech’s Reykjavik manufacturing facility; the company expects to quickly address the FDA’s observations and resubmit the relevant BLAs in 2QCY26 (note that Dr Reddy’s’ partnered filing for Denosumab had received a CRL following an earlier inspection of this facility).
4) BeOne Medicines received the USFDA’s accelerated approval for Beqalzi (Sonrotoclax) in relapsed/refractory mantle cell lymphoma, positioning the drug as a potential challenger to AbbVie/Roche’s Venclexta, which is used off-label for this type of blood cancer (relevant for Anthem).
5) Alkermes reported positive Phase 3 results for Lumryz in idiopathic hypersomnia and plans to file for FDA approval by end-2026, potentially intensifying competition for Jazz Pharma’s Xywav, currently the only approved therapy in the indication (read-through for Xywav generic filers).
6) ViiV Healthcare lost a legal challenge against Colombia’s compulsory license for its HIV drug Tivicay (read-through for Laurus Labs).
7) Almirall reported 1QCY26 Ilumetri sales of EUR62mn, up 12% YoY, with the management reiterating confidence in achieving peak sales of over EUR300mn (relevant for Sun Pharma).
8) Bayer witnessed a 40% YoY decline in Xarelto sales in 1QCY26 amid loss of exclusivity, while Eylea sales declined 21% due to biosimilar-driven pricing pressures, although Eylea HD accounted for 46% of the franchise sales (readthrough for Eylea biosimilars). Bayer also highlighted encouraging early uptake for its newly launched Lynkuet (relevant for Cohance and Aarti Pharmalabs).
9) Eisai reported 20% YoY growth in global Dayvigo sales in 4QFY26, with the drug maintaining its leadership in Japan; the company highlighted steady expansion in Canada, China, and Thailand, alongside plans for a US relaunch through telehealth initiatives and regulatory filings in the UK+EU (relevant for Aarti Pharmalabs).
10) Daiichi Sankyo reported an increase in its EU specialty business revenue, driven by strong growth in Nilemdo/Nustendi (Bempedoic Acid), with brand sales rising ~65% YoY to EUR107mn in 4QFY26 and FY26 sales meeting the company’s guidance at EUR361mn; the company has guided for EUR480mn sales in FY27 (read through for Neuland, Blue Jet, and Piramal).
11) HLS Therapeutics’s Nilemdo has witnessed a strong early launch in Canada, with over CAD250,000 in sales within the first month, growing wholesaler reorders and coverage from major private insurers; the company expects Nexlizet to be launched in 1HCY27 and sees peak annual revenue for the Bempedoic Acid franchise at CAD50-100mn (read through for Neuland, Blue Jet, and Piramal).
12) Unicycive Therapeutics reiterated that the FDA review of Oxylanthanum Carbonate remains on track with a target action date of 29-Jun-26, while commercial launch readiness activities continue ahead of the potential approval (read-through for Shilpa Medicare)
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