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.

0608 GMT - CSPC Pharmaceutical's coming clinical data presentations over the next two months could serve as near-term share-price catalysts, say DBS Group Research's Mark Kong and Nico Chen in a note. The Chinese pharmaceutical group is scheduled to present on several key products, including Phase 3 clinical data for its GLP-1 fusion protein to treat obesity and diabetes, the analysts say. The company's voluntary participation is seen as a sign of confidence in the data, the analysts say. CSPC trades around 18X its 2027 price-to-earnings ratio, which is a roughly 28% discount to the peer average and offers an attractive entry point, they say. DBS reinstates its coverage of CSPC with a buy rating and 13.70 Hong Kong dollar target price. Shares fall 4.2% to HK$8.72. (megan.cheah@wsj.com)

0253 GMT - Raffles Medical shares' risk-reward profile appears attractive, says RHB Research's Shekhar Jaiswal in a note, citing its widening discount, compared with its Southeast Asian peers, and net-cash balance sheet. The Singaporean hospital operator's shares have fallen to a 52-week low following its soft 1H results, he says. Yet, the right-sizing of its transitional care facility, reflected in the results, suggests normalization rather than a deterioration of its core healthcare franchise, he says. The analyst views the company's China segment as a medium-term growth driver, with the potential break-even of its Shanghai facility likely to be a catalyst. RHB retains its buy rating and its target price of 1.15 Singapore dollars. Shares are down 0.6% at S$0.83.(megan.cheah@wsj.com)

0240 GMT - Manipal Health Enterprises' earnings are expected to grow thanks to its expansion through a mix of brownfield and greenfield projects, Jefferies equity analysts Alok Dalal and Dhawal Khut say in a note. The investment bank has initiated coverage of the Indian hospital operator with a buy rating on the stock and a target price of 870 rupees. Jefferies forecasts Manipal's revenue to grow 17% annually and its Ebitda to increase 19% annually over FY 2026-FY 2029. Shares closed 1.5% higher at 729.80 rupees on Wednesday.(venkat.pr@wsj.com)

0058 GMT - Earnings momentum for the Malaysian rubber products sector appears to be stabilizing, while steep share-price corrections in recent years have made valuations more attractive, Affin Hwang IB analyst Andrew Lim says in a note. Pricing competition is also less aggressive than anticipated, with the gap between Malaysian and China manufacturers narrowing to about $0.50 per 1,000 pieces from nearly $4 previously, he says. More rational pricing and cost pass-through should help sustain recent margin improvements, despite higher natural-gas costs, he adds. Affin Hwang upgrades the country's rubber products sector's rating to overweight from underweight and pegs Hartalega as its top pick. (yingxian.wong@wsj.com)

1507 GMT - Recent clinical-trial setbacks mean Novartis needs to be near-flawless in bringing the rest of its pipeline to the market or look for deals, but the Swiss drugmaker shouldn't rush it, RBC Capital Markets analysts say in a research note. "Shares have pulled back from all-time highs, but we see no urgency to act," the analysts say. The failures of cardiovascular and neuromuscular drugs pelacarsen and del-desiran raise the bar for Novartis's pipeline, given that these were two important candidates to offset sales lost to upcoming patent expirations, they add. RBC starts coverage on the stock with a sector perform recommendation and a target price of 120 Swiss francs. Shares fall 0.3% to 111.44 francs. (adria.calatayud@wsj.com)

1459 GMT - Roche Holding's base business is gaining momentum and its drug pipeline offers deeper potential than the market gives it credit for, RBC Capital Markets analysts write in a research note. The crown jewel in the Swiss drugmaker's portfolio is breast-cancer drug candidate giredestrant, which could generate annual sales of as much as $14 billion, according to RBC. Giredestrant has the potential to become a cornerstone therapy in breast cancer, the analysts say. But other drugs in Roche's pipeline such as enicepatide for obesity, pegozafermin for fatty liver disease and fenebrutinib for multiple sclerosis could see upgrades to consensus expectations, they add. RBC starts coverage on Roche with an outperform recommendation and a target price of 400 Swiss francs.Shares fall 0.8% to 347.70 francs. (adria.calatayud@wsj.com)

1449 GMT - French drugmaker Sanofi and U.S. partner Regeneron Pharmaceuticals could extend the U.S. patent on their blockbuster anti-inflammatory drug Dupixent by two years to 2033, RBC Capital Markets analysts write in a research note. RBC sees a 70% chance of this happening and says the move could help Sanofi as it reshapes its portfolio. "Sanofi is navigating a pivotal transition amid near-term challenges," the analysts say. Despite Dupixent's strength, investors want proof of diversified growth and acquisitions seem likely, they add. RBC starts coverage of Sanofi with a sector perform recommendation and a target price of 80 euros. Shares fall 0.9% to 74.05 euros. (adria.calatayud@wsj.com)

1443 GMT - GSK needs to manage its base business in a flawless way to hit its 2031 sales target, given that it will take a few years for its drug pipeline to contribute to its top line meaningfully, RBC Capital Markets analysts say in a research note. The U.K. drugmaker's core HIV, general medicines, respiratory and vaccines businesses will face significant competition over the next five years and its drug pipeline remains a "show-me" story for now, the analysts say. "We believe GSK has made oncology the priority area with Blenrep and its [antibody-drug conjugate] portfolio, but we don't see material sales until the end of the decade for these assets," the analysts add. RBC starts coverage of GSK with a sector perform recommendation and a target price of 19.75 pounds. Shares rise 0.5% to 18.05 pounds. (adria.calatayud@wsj.com)

1401 GMT - AstraZeneca shares have been overly punished by recent concerns, but they look set for a swift recovery once uncertainty dissipates, RBC Capital Markets analysts say in a research note. The failure of a heart-disease clinical trial, takeover speculation and uncertainty about upcoming results from two big cancer studies have all weighed on the U.K. drugmaker's stock, the analysts say. AstraZeneca faces low expectations for the two late-stage trials in breast and lung cancers and it doesn't need them to be successful to reach its target of $80 billion in revenue by 2030, but uncertainty might keep risk-averse investors on the sidelines, they add. RBC starts coverage of AstraZeneca with an outperform recommendation and a target price of 145 pounds. Shares fall 1.7% to 116.82 pounds. (adria.calatayud@wsj.com)

1254 GMT - Sandoz Group plans a major expansion of its biosimilar-drug portfolio over the coming decade and a half, but this effort will initially rely on external assets, J.P. Morgan analysts say in a research note. The Swiss maker of generic drugs on Tuesday set out plans to increase the number of biosimilars--copycat versions ofbiologic drugs--in its portfolio to 100 by 2030 from 13 currently. "Post 2035, the company aims to focus on in-house development, but through to the end of the decade expansion in the biosimilar opportunity will primarily be realized through additional partnerships, while a combination of approaches will be pursued from 2030-35," the analysts say. Sandoz shares fall 1.3%. (adria.calatayud@wsj.com)

1250 GMT - Sanofi's results from a midstage study for a new asthma drug look positive, but more data will be needed to establish whether the medicine has a differentiated profile relative to a rival treatment, Citi analysts say in a research note. Results presented by the French drugmaker at a medical conference show its experimental lunsekimig asthma drug achieved a clinical benefit in a midstage study, but a late-stage trial will be needed to determine whether it beats AstraZeneca's Tezspire, the analysts say. Citi estimates lunsekimig could reach annual sales of 1.8 billion euros at its peak across asthma and chronic obstructive pulmonary disease. Sanofi shares fall 1.1%. (adria.calatayud@wsj.com)

1228 GMT - AstraZeneca reported blowout data for its new chronic obstructive pulmonary disease drug, which support sales expectations sharply above current consensus estimates, Citi analysts say in a research note. Full study results from the U.K. pharmaceutical company for its tozorakimab point to potential for a broad use across all populations of COPD patients, the analysts say. Tozorakimab also achieved better data for the subgroup of patients for which Sanofi and Regeneron's Dupixent and GSK's Nucala are approved, they add. As a result, Citi says the data support potential peak sales for tozorakimab of at least its estimate of $7 billion, or roughly double what the current consensus estimate for the drug projects. AstraZeneca shares fall 1.1%.