U.K. (FTSE) Healthcare Sector Analysis

Sector Valuation and Performance

Has the U.K. Healthcare Sector valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 23 Jun 2026	UK£340.0b	UK£103.8b	UK£16.2b	25.8x	20.9x	3.3x
Thu, 21 May 2026	UK£351.0b	UK£103.0b	UK£16.2b	24.9x	21.7x	3.4x
Sat, 18 Apr 2026	UK£382.5b	UK£101.3b	UK£16.0b	23.4x	23.9x	3.8x
Mon, 16 Mar 2026	UK£366.6b	UK£102.4b	UK£16.2b	21.8x	22.6x	3.6x
Wed, 11 Feb 2026	UK£373.3b	UK£99.9b	UK£15.1b	27.1x	24.8x	3.7x
Fri, 09 Jan 2026	UK£359.5b	UK£100.3b	UK£15.0b	22.5x	24x	3.6x
Sun, 07 Dec 2025	UK£345.3b	UK£100.7b	UK£15.0b	22.7x	23x	3.4x
Tue, 04 Nov 2025	UK£326.7b	UK£100.1b	UK£14.3b	23.4x	22.8x	3.3x
Thu, 02 Oct 2025	UK£322.2b	UK£98.3b	UK£12.0b	28.2x	26.8x	3.3x
Sat, 30 Aug 2025	UK£309.7b	UK£100.7b	UK£12.0b	28.8x	25.8x	3.1x
Mon, 28 Jul 2025	UK£291.4b	UK£99.7b	UK£10.9b	31.5x	26.7x	2.9x
Wed, 25 Jun 2025	UK£282.6b	UK£96.6b	UK£10.7b	29x	26.4x	2.9x
Fri, 23 May 2025	UK£285.9b	UK£97.3b	UK£10.8b	29.9x	26.5x	2.9x
Sun, 20 Apr 2025	UK£273.3b	UK£97.1b	UK£9.7b	28.6x	28.3x	2.8x
Tue, 18 Mar 2025	UK£313.1b	UK£98.2b	UK£9.6b	26.7x	32.7x	3.2x
Thu, 13 Feb 2025	UK£308.1b	UK£100.1b	UK£9.4b	29.3x	32.8x	3.1x
Sat, 11 Jan 2025	UK£254.9b	UK£87.4b	UK£7.8b	31.3x	32.7x	2.9x
Mon, 09 Dec 2024	UK£250.0b	UK£85.3b	UK£7.6b	26.8x	33.1x	2.9x
Wed, 06 Nov 2024	UK£243.0b	UK£82.6b	UK£7.4b	25.8x	32.9x	2.9x
Fri, 04 Oct 2024	UK£276.8b	UK£82.4b	UK£8.9b	29.1x	31.2x	3.4x
Sun, 01 Sep 2024	UK£305.5b	UK£82.1b	UK£8.8b	34.6x	34.5x	3.7x
Tue, 30 Jul 2024	UK£287.1b	UK£82.3b	UK£9.4b	33.4x	30.5x	3.5x
Thu, 27 Jun 2024	UK£289.4b	UK£82.0b	UK£9.4b	30.3x	30.7x	3.5x
Sat, 25 May 2024	UK£293.7b	UK£81.6b	UK£9.4b	31.3x	31.3x	3.6x
Mon, 22 Apr 2024	UK£266.9b	UK£82.1b	UK£9.7b	29.2x	27.5x	3.3x
Wed, 20 Mar 2024	UK£259.7b	UK£80.7b	UK£9.6b	33.9x	27.1x	3.2x
Fri, 16 Feb 2024	UK£251.3b	UK£79.8b	UK£9.4b	36.5x	26.6x	3.1x
Sun, 14 Jan 2024	UK£279.0b	UK£83.9b	UK£10.6b	38.8x	26.3x	3.3x
Tue, 12 Dec 2023	UK£260.8b	UK£84.6b	UK£10.7b	39x	24.3x	3.1x
Thu, 09 Nov 2023	UK£262.6b	UK£85.9b	UK£11.0b	41.1x	24x	3.1x
Sat, 07 Oct 2023	UK£277.9b	UK£85.7b	UK£10.3b	41.5x	26.9x	3.2x
Mon, 04 Sep 2023	UK£272.1b	UK£84.4b	UK£10.2b	41.4x	26.7x	3.2x
Wed, 02 Aug 2023	UK£279.5b	UK£83.6b	UK£10.2b	41.7x	27.5x	3.3x
Fri, 30 Jun 2023	UK£279.3b	UK£83.0b	UK£7.9b	43.8x	35.3x	3.4x

Current Industry PE

Investors are pessimistic on the British Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.

The industry is trading at a PE ratio of 20.9x which is lower than its 3-year average PE of 27.7x.

The industry is trading close to its 3-year average PS ratio of 3.3x.

Past Earnings Growth

The earnings for companies in the Healthcare industry have grown 27% per year over the last three years.
Revenues for these companies have grown 7.8% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.K. Healthcare sector?


GB Market	-0.40%
Healthcare	-0.13%
Biotech	0.12%
Pharma	-0.088%
Medical Equipment	-0.22%
Healthcare Services	-1.85%
Life Sciences	-3.53%
Healthtech	-5.01%

Industry PE

Investors are most optimistic about the Healthtech industry which is trading above its 3-year average PE ratio.

Analysts are expecting annual earnings growth of 17.3%, which is lower than the prior year's growth of 51.1% per year.

Forecasted Growth

Analysts are most optimistic on the Life Sciences industry, expecting annual earnings growth of 57% over the next 5 years.

In contrast, the Pharma industry is expected to see its earnings grow by 10% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
AZN AstraZeneca	UK£132.90	0.7% +UK£1.4b	27.5%	PE26.3x
CTEC Convatec Group	UK£2.07	1.7% +UK£66.5m	-28.4%	PE30.7x
HIK Hikma Pharmaceuticals	UK£14.87	1.4% +UK£42.6m	-27.4%	PE10.4x
AMS Advanced Medical Solutions Group	UK£2.32	7.9% +UK£36.8m	9.7%	PE50.3x
SPEC INSPECS Group	UK£0.98	16.0% +UK£13.7m	98.0%	PS0.5x

Hutchmed China Limited Highlights Sovleplenib Phase III Data in Warm Antibody Autoimmune Hemolytic Anemia

Hutchmed China Limited announced results from the Phase III part of the ESLIM-02 study of sovleplenib in patients with warm antibody autoimmune hemolytic anemia (wAIHA) in China were presented on June 11, 2026 during the European Hematology Association (EHA) Congress in Stockholm, Sweden. Supported by data from the ESLIM-02 study, a New Drug Application (NDA) for sovleplenib for the treatment of adult patients with wAIHA who have had an insufficient response to at least one previous glucocorticoid treatment has been accepted for review and granted priority review by the China National Medical Products Administration (NMPA) in April 2026. The NMPA granted Breakthrough Therapy Designation to sovleplenib for the treatment of wAIHA in March 2026. The ESLIM-02 presentation was selected for the official EHA Press Program. ESLIM-02 is a randomized, double blind, placebo-controlled China Phase II/III study in adult patients with primary or secondary wAIHA who had relapsed or were refractory to at least one prior line of standard treatment (NCT05535933). Results from the Phase II part of the study were published in The Lancet Haematology in January 2025. In Phase III part of the study, 90 patients were randomized 1:1 to receive either sovleplenib (n=44) or placebo (n=46) at a dose of 300 mg once daily for 24 weeks. The study met its primary endpoint, with sovleplenib demonstrating a significantly higher durable response rate during weeks 5-24 compared to placebo (66% vs 15%, p<0.0001). During the 24-week double-blind treatment period, sovleplenib demonstrated superior efficacy across several key metrics; specifically, the overall response rate-defined as hemoglobin (Hb) =100 g/L with an increase of =20 g/L from baseline without rescue therapy-was significantly increased (70% vs 22%, p<0.0001). The use of protocol-defined rescue therapy was significantly reduced with sovleplenib (16% vs 54%, p=0.0001), fewer patients received red blood cell transfusion (11% vs 43%) and higher patients with tapering or discontinuation of glucocorticoids or other baseline concomitant anti-wAIHA therapies (50% vs 15%, p=0.003). Median time to response was 3.1 weeks for sovleplenib versus 6.3 weeks for placebo, while the median cumulative duration of response among overall responders was 16.1 versus 6.1 weeks, respectively. Additionally, an improvement in hemolytic markers was observed with sovleplenib compared with placebo, showing an alleviation of active hemolysis. These efficacy findings remained consistent across all sensitivity analyses, and all subgroup analyses further supported the primary endpoint results. Notably, in patients who had received prior rituximab therapy, the durable response rate continued to favor sovleplenib over placebo (69% vs 16%, p=0.0022). Sovleplenib demonstrated a favorable safety profile. Grade =3 treatment-emergent adverse events (TEAE) were reported in 43% patients in the sovleplenib arm and 59% patients in the placebo arm. The most common Grade =3 TEAEs, occurring in at least 10% of patients, were warm autoimmune hemolytic anemia (18% vs 43%) and upper respiratory tract infection (2% vs 11%). There were no TEAE-related deaths or treatment discontinuations reported in the sovleplenib group. Sovleplenib is a novel, investigational, selective small molecule inhibitor for oral administration targeting Syk. Syk is a major component in B-cell receptor and Fc receptor signaling and is an established target for the treatment of multiple subtypes of B-cell lymphomas and autoimmune disorders. The accelerated clearance of antibody-coated RBCs by immunoglobulin Fc-gamma receptor (Fc?R) bearing macrophages is thought to be the pathogenic mechanism in wAIHA. Activated Syk mediates downstream signaling of the activated Fc receptors in phagocytic cells, resulting in phagocytosis of RBCs. In addition, activation of Syk through the B-cell receptor mediates activation and differentiation of B-lymphocytes into antibody secreting plasma cells. Inhibition of Syk may have potential effects in the treatment of wAIHA through inhibition of phagocytosis and reduction of antibody production. In addition to wAIHA, sovleplenib is also being studied in immune thrombocytopenia (ITP). Positive results from ESLIM-01 (NCT05029635), a Phase III trial in China of sovleplenib in patients with primary ITP, have been published in The Lancet Haematology. The NMPA accepted for review the resubmitted NDA filing for the treatment of ITP and granted it priority review in February 2026. According to IQVIA, China has 430,000 existing patients with 41,000 new ITP patients each year. About half of ITP patients fail to have satisfactory results from currently approved treatments such as TPO (thrombopoietin) /TPO-RAs (thrombopoietin receptor agonists). HUTCHMED currently retains all rights to sovleplenib worldwide.

U.K. (FTSE) Healthcare Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

INSPECS Group plc has completed a Follow-on Equity Offering in the amount of £7.503001 million.

AstraZeneca (LSE:AZN) Stock Could Be 20.2% Below Fair Value After Recent Pullback

GSK Stock Draws Interest After FDA Approval of First Oral cUTI Antibiotic Utebzi

HIK: Manufacturing Expansion And Steady Outlook Will Support Future Re Rating

Investor sentiment improves as stock rises 18%

HLN: Cautious Ratings And Execution Progress Will Guide Future Share Price

Hutchmed China Limited Highlights Sovleplenib Phase III Data in Warm Antibody Autoimmune Hemolytic Anemia

Allergy Therapeutics plc Presents Data From Pollen And Food Allergy Research Portfolio And Hosts Symposium At EAACI Congress 2026

Smith+Nephew Announces Completion of First Clinical Cases with Next Generation CORI XT Handheld Robotics Platform Across Knee and Shoulder Arthroplasty

CTEC: Advanced Wound Care Pipeline And Ostomy Launch Will Support Future Rerating Potential

CVSG: Activist Buyback Push And Index Inclusion Will Support Future Upside

Oxford Nanopore Technologies plc Announces Executive Appointments

H.B. Fuller Company (NYSE:FUL) proposed to acquire Advanced Medical Solutions Group plc (AIM:AMS).

New minor risk - Share price stability

New major risk - Share price stability

Co-Founder exercised options to buy UK£432k worth of stock.