A lot has changed in the severe asthma market lately—including the way GlaxoSmithKline is talking about its contender, Nucala. On the company's third-quarter conference call last week, the British drugmaker's pharma chief, Luke Miels, told investors the company had "very much held" AstraZeneca newcomer Fasenra "in place in Japan and Europe." "I'm very encouraged by that," he said, adding, "we can compete."