BridgeBio (BBIO) Morgan Stanley 24th Annual Global Healthcare Conference summary

Macro and industry trends

• China-originated innovation offers faster trial setup and broader genetic data access, but IP protection remains a concern.

• AI is improving operational efficiency, especially in commercial processes, biostatistics, and trial enrollment, with growing impact expected.

• Regulatory and pricing policies, including FDA decisions and Medicare negotiations, are closely monitored, with recent partnerships supporting innovation and patient access.

Attruby performance and outlook

• Attruby's growth is driven by expanding first-line market share and differentiated clinical benefits, including kidney protection.

• Sales are expected to grow steadily, with peak year sales targeted at $4 billion and the majority from the U.S.

• Recent data reinforce stabilizers as first-line therapy, with Attruby positioned for continued share gains in both first- and second-line settings.

• Real-world evidence and new data are expected to further support clinical differentiation and pricing resilience, even post-generic entry.

Infigratinib and skeletal dysplasias

• Infigratinib targets three patient groups, aiming to expand U.S. treatment penetration beyond the current 25%.

• Demonstrates superior efficacy on height and additional benefits on proportionality, sleep apnea, and otitis media.

• Clean safety profile with no anticipated additional monitoring; FDA decision expected soon, with European approval targeted for late 2026 or early 2027.

• Expansion into infant, toddler, and hypochondroplasia populations is underway, with sequential cohort filings planned.