The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1035 ET - AstraZeneca is opening a new treatment paradigm in breast cancer with its Etcamah drug, which just got the green light from the U.S. Food and Drug Administration, Jefferies analysts say. This is arguably one of the most important approvals in breast cancer of the recent past, the analysts say. The FDA is validating an entire new treatment paradigm based on intervention guided by testing to detect a mutation that makes tumors resistant to treatment, before observing the disease progress through X-ray scans, they add. While Etcamah's approval matters clinically, it is authorized for a subset of the overall breast-cancer patient population for now, limiting its commercial benefit, Jefferies says. Shares rise 0.5%. (adria.calatayud@wsj.com)

1014 ET - AstraZeneca's approval from the U.S. Food and Drug Administration for breast-cancer drug Etcamah might be more important for investor sentiment than for its top line, Citi analysts write in a research note. The approval opens up a relatively modest opportunity compared with the much bigger market in an earlier stage of treatment that is being assessed in another trial, the analysts say. Citi estimates peak annual sales for Etcamah in each indication at $450 million and $6 billion, respectively. Nevertheless, getting green light from the FDA should be good for sentiment, the analysts add. Shares rise 0.9%. (adria.calatayud@wsj.com)

0930 ET - Spire Healthcare shareholders are likely to accept the 1.03 billion-pound takeover offer from the Toscafund consortium, RBC analysts Natalia Webster and Charles Weston write. The U.K. hospital operator agreed to the 250 pence-a-share offer after months of talks between the companies. RBC cuts its target price on the stock to match the offer price, and lowers its rating to sector perform from outperform. Its previous target price was 300 pence. Shares are up 3.15% at 245.50 pence and 47% higher over the year to date. (ian.walker@wsj.com)

0525 ET - Novartis's heart-trial failure means investors' attention now shifts to upcoming results from another late-stage study of a drug acquired as part of the company's $12 billion Avidity Biosciences deal, Jefferies analysts say in a research note. To justify the price of the Avidity deal, the trial needs to work, the analysts say. The study of experimental drug del-desiran for the treatment of neuromuscular condition myotonic dystrophy type 1 measures how long it takes patients to open their hand after releasing a grip. Regarding the drug's safety, anemia and stroke risks will be in focus, according to Jefferies. Novartis shares fall 3.2%. (adria.calatayud@wsj.com)

0327 ET - Klinique Medical Clinic's 2026 revenue guidance is raised, but appears already priced in by the market, CGS International's Kasem Prunratanamala says in a research report. The medical aesthetic clinic operator raised its 2026 revenue target to 4.50 billion baht from THB4.15 billion, citing strong cash sales growth in July, the analyst notes. However, the brokerage leaves its 2026-2028 earnings forecasts unchanged, pending greater clarity on growth sustainability amid intensifying competition and geopolitical headwinds. While the company's operating momentum remains healthy, thanks to drivers including resilient same-store-sale growth, its recent share price strength already captures much of this positive news. The brokerage maintains the stock's hold rating and target price of THB28.00. Shares are 1.75% higher at THB29.00.(ronnie.harui@wsj.com)

0321 ET - European indexes are mixed in quiet early trade. Healthcare and consumer-facing stocks struggle, though AI-related stocks gain as the release of OpenAI's latest model boosts sentiment. The Stoxx 600 loses 0.15%. London's FTSE 100 slips 0.2% as miners fall, while drinks group Diageo falls 1.75%. The German Dax is flat. Chip maker Infineon jumps 2.6%, but pharmaceutical technology group Qiagen loses 2%. In Paris, the CAC 40 also trades flat, as gains for AI-related stocks counter further falls for luxuries. LVMH loses 0.9%. Italy's FTSE MIB adds 0.4%, while the Spanish IBEX 35 trades flat. The semiconductor-heavy AEX is flat. ASML gains 1.7%, but sliding software stocks weigh on the index. (josephmichael.stonor@wsj.com)

0303 ET - An experimental Novartis medicine missed the target in a late-stage clinical trial, but the hit to the Swiss drugmaker's share price could be mitigated by investors' skepticism about the study, analysts at Citi say in a research note. The drug, pelacarsen, reduced the levels of a fatty particle in the blood known as Lp(a), but this didn't translate to clinical outcomes, Citi says. "We think market expectations of a positive trial were already cautious, with question marks around the magnitude of benefit and difficulty in commercialization even if the study had met the endpoint, which we think could limit the impact of the trial failure on the share price," the analysts say. (adria.calatayud@wsj.com)

0202 ET - News that U.S. regulators approved AstraZeneca's new breast cancer drug Etcamah represents a minor positive for the U.K. pharmaceutical company, J.P. Morgan analysts say in a research note. The drug was approved for use in combination with medicines like Pfizer's Ibrance, Eli Lilly's Verzenio and Novartis's Kisqali to treat a type of breast cancer upon detection of a specific mutation. The authorization opens up a $1 billion sales opportunity for Etcamah, which reduces risk for one third of the consensus peak-sales estimate of $3 billion for the product, according to JPM. That said, the initial rollout of Etcamah could be slow due to the need to establish a new treatment paradigm of regular circulating tumor DNA testing to detect the mutation and a warning for arrhythmia risk, the analysts add. (adria.calatayud@wsj.com)

0143 ET - Novartis shares are likely to take a hit from news that a cholesterol drug candidate failed to reduce the risk of severe cardiovascular events like heart attacks and strokes in a late-stage trial, J.P. Morgan analysts say in a research note. Consensus estimates for Novartis included $1 billion in 2030 sales from the drug, called pelacarsen, the analysts say. Shares in the Swiss drugmaker are likely to be off 2% to 3% on Monday as a result, they add. Upcoming trial results for del-desiran, an experimental treatment for genetic neuromuscular disorder myotonic dystrophy type 1, are likely to be positive and could allow Novartis to more than erase stock weakness caused by the pelacarsen results, according to JPM. (adria.calatayud@wsj.com)

2333 ET - Shionogi's earnings are likely to be driven by HIV royalties, Jefferies analysts say in a note. Given that its joint-venture partner GSK has raised its HIV sales guidance, the U.S. bank expects the trend of strong HIV royalties to continue throughout the fiscal year. Over the medium- to long-term, Jefferies sees limited competitive threat and views the Shionogi-GSK HIV portfolio as solid. Jefferies also expects improving gross-profit margin for amyotrophic lateral sclerosis drug Radicava and lower marketing expenses for Covid-19 drug Xocova to contribute to profit. The bank maintains its buy rating and target price of 3,800 yen. Shares are up 1.6% at Y2,955.50. (kosaku.narioka@wsj.com; @kosakunarioka)

2118 ET - The legal proceedings between Fortis and Daiichi Sankyo aren't expected to have material impact on IHH's associate Fortis's operations, CIMB Securities analyst Chun Sung Oong says in a note. IHH's 31.1% stake in Fortis was acquired through a fresh 40 billion rupee capital injection, with no money paid directly to the former Fortis promoters, the Singh brothers. The acquisition is therefore seen as having been conducted at arm's length, with no evidence of direct dealings with the former promoters, he says. IHH also reaffirmed its intention to gradually raise its stake in Fortis to 51% over the next four years, which is expected to have minimal impact on its target price. CIMB maintains a buy rating on IHH and its target price at 10.30 ringgit. Shares are at 7.96 ringgit.