US Biopharmaceuticals: ASCO Preview: State of the market, NSCLC

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US Biopharmaceuticals: ASCO Preview: State of the market, NSCLC

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US Biopharmaceuticals

ASCO Preview: State of the market, NSCLC

Industry Overview

Framing the landscape—and clinical bar—for NSCLC 26 May 2026

ASCO remains one of the largest oncology forums for unveiling novel drugs and targets Equity

while playing a large role in shaping standards of care. We have previously previewed United States

abstracts relevant to our universe (see our solid tumor and hematology planners) but Biopharmaceuticals

thought it would be useful to provide an overview of current market dynamics, starting Jason Zemansky

with NSCLC—both in terms of commercial outlook and key debates—to help frame the Research Analyst

backdrop in which new entrants are likely to be evaluated. This is particularly relevant for BofAS+1 646 855 4280

coverage names such as Eikon and Kura (see our abstract takes) as both look to jason.zemansky@bofa.com

establish differentiated roles within crowded and evolving paradigms. Jacqueline Plesset

Research Analyst

BofAS

+1 646 855 0014NSCLC landscape likely to shift, with early clues at ASCO

jacqueline.plesset@bofa.com

Based on BrandImpact data, Keytruda remains the clear leader in NSCLC, esp in the 1L

setting vs. Opdivo/ Yervoy, which accounts for ~6% share (Exhibits 1–2). By contrast,

2L+ is more fragmented (Exhibits 4–5). Across other key segments, Imfinzi leads in both Abbreviations:

stage III and adjuvant disease (Exhibits 6–7), while Tagrisso remains firmly entrenched in 1L/2L: first-line / second-line

EGFR+ mNSCLC, where all other agents hold less than 10% share (Exhibits 8–9).

ADCs: antibody-drug conjugates

While the market has been stable, our KOLs expect the landscape to evolve meaningfully ASCO: American Society of Clinical Oncology