The latest Market Talks covering the Health Care sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0811 GMT - News that Ipsen's Bylvay drug missed the goal in a rare liver disease study is a small negative for the French drugmaker, which saw the trial as a high-risk event, RBC Capital Markets' Harry Sephton says in a note. The company said Bylvay in biliary atresia failed to meet the primary goal of a late-stage clinical trial. Biliary atresia likely accounted for half of Ipsen's 700 million-euro peak sales estimate for Bylvay, but this indication probably represented a small proportion of consensus forecasts of 420 million for the drug's 2032 sales, RBC says. Moreover, Ipsen executives previously flagged there was a high hurdle for approval in this disease, the analysts say. Shares fall 3.8%. (adria.calatayud@wsj.com)

2333 GMT - CSL keeps its bull at UBS despite analysts seeing little scope for profit growth in fiscal 2027. The analysts tell clients in a note that they don't think competitive conditions have improved in major markets since CSL cut its guidance for the most recent fiscal year ended June 30. They think this will inform a cautious approach to fiscal 2027 guidance, although they are hopeful that the Australian biopharma will have some new contract wins to report at next month's annual result announcement. UBS's current expectation is for a flat underlying profit in fiscal 2027. UBS has an unchanged buy rating on the stock and a target price of 158.00 Australian dollars. Shares are at A$115.75 ahead of the open. (stuart.condie@wsj.com)

1407 GMT - Roche Holding is taking a disciplined approach to dealmaking since it doesn't have its back against the wall to fill its drug pipeline, CEO Thomas Schinecker says on a call with analysts. The Swiss drugmaker is open to doing deals as long as they make sense from a financial perspective, Schinecker says. "We always make very detailed due diligence. We always have material-transfer agreements where we really test the molecules in our own hands...I've seen other companies lose a bit of discipline in this space," he adds. Shares rise 4.4%. (adria.calatayud@wsj.com)

1316 GMT - Roche Holding's first-half results got a boost from royalty and milestone payments related to Eli Lilly's Foundayo obesity pill, and the Swiss drugmaker expects that to increase in coming years, UBS analysts say in a research note. Roche's report features a strong increase in what the company calls "other revenue" partly driven by the Foundayo payments, the analysts say. "There was a notable contribution from the other revenue line and by 2030 Roche expects that 5% of group sales will come from other revenue," they add. The pill was discovered by Roche's majority-owned Chugai Pharmaceutical and licensed to Lilly. Roche shares rise 2%. (adria.calatayud@wsj.com)

1251 GMT - Roche Holding's first-half results show impressive profitability for the Swiss drugmaker due to cost savings and lower-than-expected spending on research and development, Bernstein analysts say in a research note. The company's first-half core operating profit of 11.9 billion Swiss francs beat consensus estimates by 4%, with a 39% margin that was 142 basis points ahead of the consensus, according to Bernstein. Roche achieved that level of profitability by optimizing research-and-development investment, while savings reduced its selling, general and administration expenses, the analysts say. Nevertheless, the company reiterated its full-year guidance and consensus estimates seem unlikely to change, they add. Shares rise 1.9%. (adria.calatayud@wsj.com)

1244 GMT - Roche Holding no longer expects sales growth for eye drug Vabysmo to rebound in the U.S. this year, which might raise concerns, UBS analysts say in a research note. The Swiss drugmaker now expects Vabysmo to grow by a mid-single-digit percentage in the U.S. and by double digits outside the U.S., according to UBS. "There may be some concern about the revised expectation for Vabysmo's growth trajectory in the U.S. but the company does still expect [about 6 billion Swiss francs] peak sales," the analysts say. Shares rise 2.1%. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

July 24, 2026 04:20 ET (08:20 GMT)

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