A picture is worth a thousand words

Research evidence excerpt

A picture is worth a thousand words

Update

July 10, 2026 03:41 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 7/3- ResearchHailey.Horowitz@morganstanley.comAssociate +1 212 761-5264

Independence Day holiday week) was +9.2% vs. +1.1% last wk Damien H Kerner

and +1.8% over the past 12 wks. ResearchDamien.H.Kerner@morganstanley.comAssociate +1 212 761-3829

Connor M Massari

For week ended Jul 03, US total market weekly TRx YoY change was +9.2% vs. Equity Analyst

+3.4% year ago ( Exhibit10 ). Rolling 4-week TRx YoY was +2.8% and rolling 12- Connor.Massari@morganstanley.com +1 212 761-2417

week TRx YoY was +1.8%. Extended unit (EUTRx) weekly YoY growth was +9.5%, Morgan Stanley India Company Private Limited+

Saket Agarwalabove TRx YoY ( Exhibit 13 ). Sequential weekly TRx growth was +0.1% compared

to -1.1% 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 ~3,230 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.