What are the key late-stage pipeline catalysts to watch?

Major 2025-2026 catalysts include oral GLP-1 agonists from Lilly and Roche, next-gen ADCs from multiple sponsors, CRISPR-based therapies expanding beyond sickle cell, Alzheimer amyloid follow-on candidates, and the first wave of bispecific antibodies in autoimmune diseases. Each represents potential multi-billion dollar market creation or disruption.