Biopharma: A picture is worth a thousand words

Research evidence excerpt

Biopharma: A picture is worth a thousand words

Update

June 26, 2026 12:59 PM GMT

Morgan Stanley & Co. LLCMBiopharma | North America Terence C Flynn, Ph.D.

Equity Analyst

A picture is worth a thousand Terence.Flynn@morganstanley.comAlexander Yevdokimov, Ph.D. +1 212 761-2230

Research Associate

Alexander.Yevdokimov@morganstanley.com +1 212 761-2167

words Chris Yu, J.D., Ph.D.

Chris.L.Yu@morganstanley.com +1 212 761-2535

Comprehensive US drug market analysis (IQVIA Rx). The latest Hailey Horowitz

weekly Total Prescription YoY growth (wk ending 6/19- ResearchHailey.Horowitz@morganstanley.comAssociate +1 212 761-5264

Juneteenth holiday) was +0.9% vs. +0.6% last wk and +1.0% Damien H Kerner

over the past 12 wks. ResearchDamien.H.Kerner@morganstanley.comAssociate +1 212 761-3829

Connor M Massari

For week ended Jun 19, US total market weekly TRx YoY change was +0.9% vs. Equity Analyst

+2.4% year ago ( Exhibit10 ). Rolling 4-week TRx YoY was +1.0% and rolling 12- Connor.Massari@morganstanley.com +1 212 761-2417

week TRx YoY was +1.0%. Extended unit (EUTRx) weekly YoY growth was +0.7%, Morgan Stanley India Company Private Limited+

Saket Agarwalbelow TRx YoY ( Exhibit 13 ). Sequential weekly TRx growth was -0.8% compared

to -2.4% week before. Exhibit17 – Exhibit19 depict YoY momentum for key products. Saket.Agarwal@morganstanley.com +91 22 6995-4012

BMY's Cobenfy was approved for schizophrenia on 9/26/24. Scripts are ~3,220 for Major Pharmaceuticals

the week vs ~3,200 last week. For full details on our views on the launch see our North America

Industry View In-Line

note "Contextualizing Cobenfy launch expectations", where we discuss that the

analogs we are most focused on are the schizophrenia volumes from the Rexulti,

Caplyta, and Lybalvi launches.