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.

0855 ET - The efficacy of Roche's experimental breast-cancer drug Giredestrant was driven by patients whose tumors carried estrogen receptor 1 mutations--a form resistant to standard hormone drugs--, UBS analysts write. This might hurt its chances of success in an upcoming trial in which there will be fewer of these mutations, UBS says. Trial results also showed a higher incidence of one common side effect--slow heart rate--though the overall safety profile was acceptable, the analysts say, adding that no instances of eye toxicity were seen--another common side effect of the already-approved standard-of-care treatment--. Moreover, there was an improvement across the general population in response rate and duration, the analysts add. UBS expects peak annual sales of around $500 million and assigns a 60% probability of approval. Shares fall 1.9%. (william.gray@wsj.com)

0526 ET - The investor pullback from Chinese healthcare stocks amid U.S.-China tensions is likely to be temporary, as innovation and globalization trends among Chinese biopharmaceutical companies remain strong, UOB Kay Hian analysts Carol Dou and Sunny Chen say in a note. They cite robust drug pipelines, growing product launches and earnings expansion as drivers of the sector's positive outlook. CRDMOs and internet healthcare companies are expected to post stronger earnings in 2H, they add. The analysts see any further setback as a buying opportunity for drug innovators and leading CRDMOs. UOB maintains the sector's overweight rating, favoring internet healthcare players that use real-world data to enhance AI and service quality. Its top picks include Innovent, Sino Biopharma and WuXi Bio. (jason.chau@wsj.com)

0404 ET - Hansoh Pharmaceutical Group's new out-licensing deal with Roche could help to unlock the commercial potential of its anti-body drug conjugate, says Nomura's Jialin Zhang in a note. The deal, in which Hansoh Pharmaceutical will receive US$80 million up front, is likely to contribute up to 10% of Nomura's projected 2025 earnings estimates for the Chinese healthcare company, says Zhang. The agreement with Roche also endorses Hansoh's research and development capability, Nomura says, noting that this could contribute to making Hansoh's drug commercially-viable. Nomura raises its estimated 2026 revenue and earnings for Hansoh by 3.2% and 3.8%, respectively. The bank lifts its target price to HK$35.50 from HK$35.47 while maintaining its neutral rating on Hansoh. Shares fall 0.2% to HK$36.34. (megan.cheah@wsj.com)

2229 ET - Bumrungrad Hospital's 3Q earnings likely grew 4.6% on year thanks to strong pent-up demand from Middle Eastern patients, says its new bull at UOB Kay Hian. The expected demand follows the Ramadan period and an earthquake that stunted travel, the analysts say. The Thai company's top line likely also grew, reversing from two quarters of decline from a lack of Kuwaiti patients, they add. That overhang is likely to be removed soon, as Bumrungrad Hospital remains a prime candidate for Kuwaiti patient referrals, the analysts note. UOB KH upgrades the stock to buy from hold and lifts its target price to THB214.00 from THB185.00. Shares last closed at THB182.00.(megan.cheah@wsj.com)

(END) Dow Jones Newswires

October 20, 2025 12:20 ET (16:20 GMT)

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