EU Pharma: Conference Takeaways

研报英文原文证据摘录

EU Pharma: Conference Takeaways

Equity Research

European Pharmaceuticals, Biotechnology & Life Sciences

22 May 2026

EU Pharma

Conference Takeaways

Yesterday at the Barclays EU Leadership Conference in

London we hosted a panel with 1) David Redfern, GSK

President Corporate Development, and 2) Ronny European& Life SciencesPharmaceuticals, Biotechnology

Gal, Novartis Chief of Strategy & Growth Officer. Key focal NEUTRAL

European Pharmaceuticals,points were in-licensing, AI productivity gains, and the rise of

China innovation. BiotechnologyJames Gordon & Life Sciences

+44 (0)20 7116 2784

james.gordon@barclays.comPresenters: David Redfern, GSK President Corporate Development, and Ronny

Barclays, UK

Gal, Novartis Chief of Strategy & Growth Officer

Shirley Chen, PhD

What's incremental? +44 (0)20 7773 2109

shirley.chen@barclays.com

•• Our overall takeaway is that Large-Cap Pharma remains highly active on the Business Barclays, UK

Development / In-licensing front, albeit with increasing selectivity, given intensifying

Yihan Li, PhD

competition in certain therapeutic areas and the need for differentiation. Executives from +44 (0)20 3555 3563

both companies emphasised a focus on deals to drive faster growth in the 2030s, rather than yihan.li@barclays.com

looking to fill any near-term gaps. Barclays, UK

•• AI: Both panellists noted AI is already improving productivity across business functions, but Sidhartha Modi

+91 (0)22 6175 1326

the more important long-term opportunity is in R&D productivity, particularly in translational

sidhartha.modi@barclays.com

biology, molecular design, and patient stratification, which could result in better lead Barclays, UK

generation/molecule designs/faster and cheap clinical trials, and increased rates of success.

Charles Pitman-King, CFA