“I think this is going to be the most eventful ASCO for biotech in a while,” says Dr. Roderick Wong, founder of RTW Investments, referring to the annual meeting of the American Society of Clinical Oncology. Wong joins Bloomberg Intelligence analyst Sam Fazeli on the Vanguards of Health Care podcast to break down biotech’s rebound, why fundamentals may finally be improving after a prolonged bear market and how China’s speed and cost advantages are reshaping global drug discovery. They also explore AI’s potential to improve clinical success rates, rare-disease regulatory flexibility and why oncology, neuropsych and immunology remain fertile ground for innovation.