[Huatai Pharma Dai Wen Team] Hansoh Pharmaceutical commentary: GSK attaches great importance, licensed products making rapid progress in overseas R&D

English summary

GSK updated its R&D plans during its interim report communication. Of the 32 Phase III clinical trials planned to start in 2026–28, 11 are related to risvutatug rezetecan (B7-H3 ADC) and mocertatug rezetecan (B7-H4 ADC) in-licensed from Hansoh. To date, GSK has clearly planned to initiate Phase III development in a total of 12 indications for these two molecules, and expects to file for overseas marketing approvals successively from 2028. We believe this on one hand confirms the potential of these two molecules as pan-tumor blockbusters, and on the other hand will translate into milestone revenue for the company in the coming years. ris-rez (HS-20093): Phase III trials in domestic SCLC and osteosarcoma have both met primary endpoints and confirmed OS benefit; we predict its filing is imminent. In addition, Phase III trials have been initiated in indications such as NSCLC and esophageal squamous cell carcinoma.…