Gilead’s big push into oncology bore more fruit with the FDA approval of Trodelvy based on the TROPiCS-02 trial. More development catalysts lie ahead for 2023, company said in its earnings.

Despite initial underwhelming competitive data on the cancer target, Merck said it is expanding its investment behind its anti-TIGIT drug vibostolimab. Roche updated investors on its program too.

Even with top-seller Biktarvy and its preventive therapy, Descovy, protected beyond this decade from generics, Gilead is investing aggressively in long-acting HIV candidates and its oncology pipeline.

As of October 2022, China's GloriaBio had reached less than 25% of the annual sales volume expected for its anti-PD-1 antibody zimberelimab and was set to miss its full-year target, forcing a CNY423m ($62m) impairment provision and illustrating how immuno-oncology fortunes can fluctuate in the country.