Summary of Key Points from Conference Call Industry Overview - The conference call discusses the global business development (BD) activities in the pharmaceutical sector during the Chinese New Year period from February 13 to February 23, 2026, highlighting a total of 18 BD transactions globally [1] Core Insights and Arguments - **Key Transactions**: - Qinhai Bio licensed its MAT2A inhibitor (GH31), which has received IND approval in China and the US and is currently in Phase I clinical trials, to Gilead. Qinhai will receive an upfront payment of $80 million, $1.45 billion in milestone payments, and a tiered double-digit percentage royalty based on net sales [1] - Other notable transactions include: - Novartis partnered with Unnatural Products to develop macrocyclic peptide drugs, focusing on cardiovascular applications, with Unnatural Products receiving an upfront payment of $100 million and potential milestone payments of $1.7 billion [1] - Eli Lilly acquired global rights for the IL6 monoclonal antibody clazakizumab from CSL for all indications except end-stage renal disease, with CSL receiving an upfront payment of $100 million [1] - Merck collaborated with Mayo Clinic to integrate clinical and genomic data, focusing on early research translation in inflammatory bowel disease, skin diseases, and neurology [1] - **Year-to-Date Transactions**: - From January 1 to February 23, 2026, there have been 36 BD transactions involving Chinese companies, with 13 of these transactions involving multinational corporations (MNCs) [1] Additional Important Insights - **Comparison with Previous Year**: - In comparison, there were 26 BD transactions during the same period in 2025, with only 3 involving MNCs [2] - **Future Outlook**: - The analysis indicates that MNCs have increased their focus on Chinese BD teams and asset searches since the second half of 2025, suggesting a positive outlook for more BD transactions involving Chinese assets and MNCs in 2026 [2]

The Australian sharemarket on Monday (February 23, 2026) closed with a drop as fresh uncertainty around U.S. tariff policy unsettled investors. The S&P/ASX 200 closed lower, dropping 55.40 points, or 0.61%, to 9,026.00. The downward trend in Australian shares dragged most sectors lower except miners, which gained on safe-haven flows, as reported by news agency Reuters. Markets were left with a murky picture after ‌the U.S. Supreme ⁠Court struck ⁠down US President Donald Trump’s emergency tariffs, prompting ...

Group 1: Clinical Trial Results - Eli Lilly's TOGETHER-PsO trial showed that 27.1% of participants receiving Taltz and Zepbound achieved complete skin clearance and at least 10% weight loss, compared to 5.8% for Taltz alone, meeting the primary endpoint [2] - The combination of Taltz and Zepbound resulted in a 40% relative increase in the proportion of patients achieving PASI 100 compared to Taltz monotherapy (40.6% vs. 29%) [2] Group 2: Licensing Agreement - CSL Limited entered into an exclusive licensing agreement with Eli Lilly for the development and commercialization of clazakizumab, with an upfront payment of $100 million and potential milestone payments and royalties on global net sales [4] - CSL retains exclusive rights to develop clazakizumab for preventing cardiovascular events in patients with end-stage kidney disease, while Lilly will explore additional indications [5] Group 3: Stock Performance - The stock is currently trading 2.7% below its 20-day simple moving average and 3.2% below its 50-day simple moving average, indicating short-term weakness, but remains 4.3% above its 100-day simple moving average and 17.6% above its 200-day simple moving average, suggesting longer-term strength [7] - The RSI is at 48.22, indicating neutral territory, while the MACD shows bearish pressure with a value of -5.0984 below its signal line of -3.9365 [8]

Eli Lilly and Company (NYSE:LLY) is included among the 16 Best Dividend Stocks with Rising Payouts. Eli Lilly (LLY) Expands Pipeline with Clazakizumab Agreement, Reuters Reports According to a Reuters report on February 18, Australia’s CSL said it had granted Eli Lilly and Company (NYSE:LLY) certain rights to develop and commercialize clazakizumab, an anti-interleukin-6 monoclonal antibody. In return, CSL will receive an upfront payment of $100 million. CSL will keep exclusive rights to develop and comme ...

Core Viewpoint - Australia's CSL has entered into an exclusive licensing agreement with Eli Lilly and Co, allowing CSL to develop and commercialize clazakizumab, an antibody targeting specific medical conditions [1] Group 1: Licensing Agreement - The agreement grants CSL certain rights related to the development and commercialization of clazakizumab [1] - This partnership is expected to enhance CSL's portfolio in the biopharmaceutical sector [1] Group 2: Product Focus - Clazakizumab is an antibody aimed at treating specific medical conditions, indicating a focus on innovative therapies [1] - The collaboration with Eli Lilly highlights CSL's commitment to expanding its therapeutic offerings [1]

Core Insights - The article highlights the investment philosophy of Leo Nelissen, focusing on long-term investment strategies, macro analysis, and identifying durable businesses with strong cash-flow potential [1]. Group 1: Investment Strategy - Leo Nelissen emphasizes a combination of macro-focused strategies and bottom-up stock research to uncover high-quality compounders and dividend growth opportunities [1]. - The approach aims to identify structural investment themes that can provide sustainable returns over time [1]. Group 2: Market Engagement - The article mentions that Leo Nelissen has been active in the market since 2011, starting at a young age, which reflects a long-term commitment to understanding market dynamics [1].

Core Viewpoint - Investors in the Medical - Biomedical and Genetics sector should consider CSL Limited Sponsored ADR (CSLLY) and Exact Sciences (EXAS) for potential value opportunities [1] Group 1: Zacks Rank and Valuation Metrics - CSL Limited Sponsored ADR has a Zacks Rank of 2 (Buy), indicating a more favorable earnings estimate revision compared to Exact Sciences, which has a Zacks Rank of 3 (Hold) [3] - Value investors focus on various valuation metrics to identify undervalued companies, including P/E ratio, P/S ratio, earnings yield, and cash flow per share [4] Group 2: Valuation Comparisons - CSLLY has a forward P/E ratio of 15.23, significantly lower than EXAS's forward P/E of 73.88, suggesting CSLLY is more attractively priced [5] - The PEG ratio for CSLLY is 1.72, while EXAS has a PEG ratio of 2.44, indicating that CSLLY offers better value relative to its expected earnings growth [5] - CSLLY's P/B ratio is 2.4, compared to EXAS's P/B of 7.81, further supporting the notion that CSLLY is the superior value option [6]

Market Overview - The S&P/ASX 200 began the week positively, gaining 19.50 points or 0.22% to close at 8,937.10, following a strong 2.4% rally the previous week, marking its best weekly performance in ten months [2][8] - Gains were primarily driven by technology, gold, and healthcare sectors, while miners and financials showed weakness [1][8] Top Performers - AUSTAL LIMITED and WISETECH GLOBAL LIMITED were the top-performing stocks, rising 19.51% and 12.88%, respectively [2][8] - Other notable gainers included SEEK LIMITED, which increased by 7.95%, XERO LIMITED with a 7.58% rise, and JB Hi-Fi, which jumped 7.5% following positive half-year results [2][8][9] Sector Performance - Information Technology was the best-performing sector, gaining 5.65%, rebounding from a recent decline [5][8] - Technology stocks overall rose 5.7%, marking their strongest session in over 10 months, with major players like Wisetech, Xero, and Technology One leading the gains [6][8] - Healthcare stocks rebounded by 1.1%, with CSL and Cochlear rising 1.4% and 0.6%, respectively [6][8] Decliners - On the downside, Treasury Wine Estates Limited led the declines, falling 5.15% after cutting its interim dividend due to ongoing demand weakness [3][9] - Other significant decliners included Fortescue Ltd, down 4.71%, and Rio Tinto Limited, which dropped 4.12% [3][9] Mining and Financials - The mining sector fell by 1%, with BHP and Rio Tinto down 1.5% and 4.1%, respectively, ahead of their upcoming half-year results [8][9] - Financials showed a slight decline of 0.1%, with Commonwealth Bank of Australia rising 1.2%, while National Australia Bank slipped 1% [8][9]

Core Viewpoint - CSL Limited Sponsored ADR (CSLLY) has experienced a decline of 14.2% over the past week, but the formation of a hammer chart pattern suggests potential support and a possible trend reversal in the future [1] Technical Analysis - The hammer chart pattern indicates a minor difference between opening and closing prices, with a long lower wick, suggesting that the stock may have found support after a downtrend [4] - This pattern signals that bears might be losing control, and the emergence of buying interest could indicate a potential trend reversal [5] Fundamental Analysis - There has been a positive trend in earnings estimate revisions for CSLLY, which is a bullish indicator that typically leads to price appreciation [7] - The consensus EPS estimate for the current year has increased by 4.5% over the last 30 days, indicating that analysts expect better earnings than previously predicted [8] Analyst Sentiment - CSLLY currently holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which suggests a strong potential for outperformance in the market [9] - The Zacks Rank serves as a timing indicator, helping investors identify when a company's prospects are improving, further supporting the likelihood of a trend reversal for CSLLY [10]

Core Viewpoint - The article discusses the author's investment strategy, emphasizing a highly concentrated portfolio approach and a focus on long-term investments in high-quality companies with strong cash-flow potential [1]. Group 1 - The author manages a concentrated portfolio, which has become even more concentrated recently [1]. - The investment strategy combines macro analysis with bottom-up stock research to identify durable businesses [1]. - The author expresses a passion for dividend growth and structural investment themes [1]. Group 2 - The author has disclosed a beneficial long position in several companies, indicating a personal investment in LB, TPL, QXO, ODFL, CSL, and TDG [2]. - The article is written independently, reflecting the author's own opinions without external compensation [2]. - There is no business relationship with any mentioned companies, ensuring an unbiased perspective [2].