GSK (GSK) Status Update summary

Oncology Portfolio Growth and Strategy

• Focus on oncology, hematology, gynecologic cancers, and solid tumors, with a strategy to deliver transformative medicines and value for shareholders through targeted modalities including ADCs, immunotherapy, and small molecules.

• Blenrep, Jemperli, Zejula, and Ojjaara are key multi-blockbuster assets, with differentiated immuno-oncology combinations and ADCs expanding the pipeline.

• Near-term growth (2024–2026) is expected from in-line medicines and potential Blenrep entry in second-line multiple myeloma, with longer-term sales driven by Blenrep expansion, immuno-oncology combinations, and new ADCs.

• Key oncology data readouts and regulatory filings are expected between 2024 and 2026, supporting future growth.

Blenrep Clinical Data and Positioning

• DREAMM-7 and DREAMM-8 studies show Blenrep combinations deliver significant PFS and OS benefits over standard regimens in relapsed/refractory multiple myeloma, with consistent efficacy across high-risk and lenalidomide-refractory subgroups.

• Extended dosing intervals (every 6–12 weeks) maintain efficacy while reducing ocular toxicity, with most vision-related side effects reversible and low discontinuation rates.

• Blenrep is anticipated to be differentiated among anti-BCMA agents due to its efficacy, convenience, and applicability across patient fitness levels and care settings, with accessibility outside academic centers.

• Regulatory filings for Blenrep in second-line multiple myeloma are planned in all major markets by year-end 2024, with first-line studies (DREAMM-10) underway.

Competitive Landscape and Clinical Management

• Blenrep offers a community-friendly alternative to CAR-T and bispecifics, which are limited by hospital-based administration and adverse event management; efficacy is comparable to CAR-T in second-line settings.

• Ocular toxicity is manageable and reversible, with ongoing efforts to simplify dosing algorithms and reduce reliance on ophthalmology, aiming for broader community adoption.

• No evidence that extended dosing increases resistance; BCMA-targeted therapies remain effective even with intermittent dosing.