Commercial Environment ChallengesThe underlying products for the GSK royalties face LOE and IRA pressures, shifting the focus to the IST business to drive growth in a challenging commercial environment.
Growth ExpectationsThe bar for performance needed from the IST platform is now raised, indicating higher expectations for future growth.
Patent Expiration ConcernsThe company's 2031 royalty-related patent cliff is anticipated to start weighing on stock performance, reflecting historical trends in the pharma sector.