Goldman Sachs
May 24, 2026
Reestablishing Momentum
Weekly UpdateEquitiesMacro Economic IndicatorsHealth CareFinancials
This report highlights building momentum in US Pharma, specifically LLY and MRK, alongside tracking weekly GLP-1 obesity scripts and upcoming ASCO catalysts.
Key Takeaways
- 1.US Pharma momentum is building, led by LLY's rally and MRK's strong performance following positive Sac-TMT datasets.
- 2.ASCO abstract releases provided significant catalysts for Merck's sac-TMT and potential readthroughs for PD1/L1xVEGF bispecifics.
- 3.Obesity scripts for GLP-1 drugs remain stable/strong, with Foundayo showing notable acceleration in week 6 of launch.
Table of Contents
- Digesting ASCO
- Obesity Script Watch
- Revisions, Performance, Positioning
- Charts We Are Watching
- US Large-cap Biotech-Salveen Richter
- Disclosure Appendix
- Disclosures
- Regulatory disclosures
- Ratings, coverage universe and related definitions
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Authors
Asad Haider, CFASalveen RichterNick JenningsJeff Su
Securities
LLYMRKREGNSPXXBI
Themes
Addressing Patent CliffsAI Narrative OverflowClinical Catalyst Momentum
Regions
North AmericaAsia PacificGlobalUnited StatesChina