1 00:00:00,080 --> 00:00:03,000 Speaker 1: Now, as you know, we govi and ozimpic and similar 2 00:00:03,080 --> 00:00:05,480 Speaker 1: drugs are getting plenty of headlines globally at the moment 3 00:00:05,480 --> 00:00:08,479 Speaker 1: for being something of wonder drugs. Turns out there's nothing 4 00:00:08,520 --> 00:00:11,640 Speaker 1: they're not helping now. The CEO of the parent company, 5 00:00:11,680 --> 00:00:14,000 Speaker 1: Novo Nordisk is visiting Ossie at the moment, and when 6 00:00:14,040 --> 00:00:15,280 Speaker 1: we found out with what we might get him on 7 00:00:15,360 --> 00:00:17,120 Speaker 1: for a chat. His name is Mike Douceta. 8 00:00:17,239 --> 00:00:17,720 Speaker 2: Mike Hallo. 9 00:00:18,840 --> 00:00:20,639 Speaker 3: Hey, Mike, how. 10 00:00:20,560 --> 00:00:22,520 Speaker 2: Would you describe this? Would you describe this as a 11 00:00:22,560 --> 00:00:23,200 Speaker 2: wonder drug? 12 00:00:24,720 --> 00:00:28,840 Speaker 3: I describe it as a breakthrough innovation. I describe it 13 00:00:28,920 --> 00:00:36,080 Speaker 3: as a class that slowly people are coming to recognize 14 00:00:36,120 --> 00:00:41,400 Speaker 3: that it's way beyond just an agent that reduces sugar 15 00:00:41,440 --> 00:00:45,479 Speaker 3: for diabetics or wait for those suffering from obesity, and 16 00:00:45,520 --> 00:00:50,800 Speaker 3: it has some very serious health benefits around it, be 17 00:00:50,880 --> 00:00:56,040 Speaker 3: it cardiovascular protection, liver protection, kidney protections, and more to 18 00:00:56,080 --> 00:00:58,760 Speaker 3: be tested. So it's a breakthrough innovation. 19 00:00:59,400 --> 00:01:01,080 Speaker 1: Do you think that there are still a little bit 20 00:01:01,120 --> 00:01:03,520 Speaker 1: of ritiicence out there from people who look at this 21 00:01:03,560 --> 00:01:05,040 Speaker 1: and think it's too good to be true. 22 00:01:06,720 --> 00:01:09,200 Speaker 3: I think the world is very large, so I would 23 00:01:09,240 --> 00:01:11,760 Speaker 3: not be surprised that there will be some diverse thoughts 24 00:01:11,840 --> 00:01:15,520 Speaker 3: around that as well. But I do have to say 25 00:01:15,560 --> 00:01:20,240 Speaker 3: that many who have tried it basically get very surprised 26 00:01:20,280 --> 00:01:24,120 Speaker 3: with the efficacy and the benefits they received. So for 27 00:01:24,280 --> 00:01:27,640 Speaker 3: them and for many it has been maybe too good 28 00:01:27,640 --> 00:01:30,800 Speaker 3: to be true. But the facts are. The facts is 29 00:01:30,880 --> 00:01:34,320 Speaker 3: are well tested drugs that we have had for a 30 00:01:34,360 --> 00:01:37,039 Speaker 3: long period of time. They have proven their safety profile, 31 00:01:37,600 --> 00:01:40,880 Speaker 3: and they have shown some real benefits to societies around 32 00:01:40,880 --> 00:01:42,840 Speaker 3: the world as the usage increases. 33 00:01:43,600 --> 00:01:46,920 Speaker 2: Do we have, like, what do we know about the 34 00:01:47,040 --> 00:01:49,200 Speaker 2: long term let's. 35 00:01:48,920 --> 00:01:50,920 Speaker 1: Say, risks of using it for I don't know, let's 36 00:01:50,920 --> 00:01:53,400 Speaker 1: say ten years, twenty years, thirty years. What do we 37 00:01:53,400 --> 00:01:56,200 Speaker 1: know about what it does in three decades? 38 00:01:57,120 --> 00:01:59,880 Speaker 3: So we have actually been testing choppy ones over the 39 00:02:00,040 --> 00:02:04,760 Speaker 3: last three decades. We started researching this class a long 40 00:02:04,800 --> 00:02:08,480 Speaker 3: time ago, around three decades ago. We launched the first 41 00:02:08,600 --> 00:02:11,280 Speaker 3: version of the GOP. We won the daily injection under 42 00:02:11,280 --> 00:02:15,000 Speaker 3: the name Victoza back in two thousand and eight, so 43 00:02:15,040 --> 00:02:18,160 Speaker 3: that's already two decades ago, almost two decades ago where 44 00:02:18,160 --> 00:02:20,760 Speaker 3: the official launch of the product was. And then back 45 00:02:20,800 --> 00:02:25,440 Speaker 3: in two thousand and fifteen there was the obesity version 46 00:02:26,200 --> 00:02:29,320 Speaker 3: that was launched again the Ones daily, followed by the 47 00:02:29,360 --> 00:02:34,440 Speaker 3: Ones weekly diabetes product in two thousand and nineteen, and 48 00:02:34,880 --> 00:02:39,440 Speaker 3: now more recently, of course the weekly obesity version. So 49 00:02:39,600 --> 00:02:43,720 Speaker 3: all along these have been coming to millions now of 50 00:02:43,840 --> 00:02:48,399 Speaker 3: patients and they have to and their safety profile has 51 00:02:48,480 --> 00:02:50,160 Speaker 3: well been tested and tolerated. 52 00:02:50,880 --> 00:02:52,560 Speaker 1: Now, from a business point of view, how much of 53 00:02:52,600 --> 00:02:54,840 Speaker 1: a problem is it for you guys that your patent 54 00:02:54,960 --> 00:02:55,880 Speaker 1: runs out this year? 55 00:02:57,320 --> 00:03:02,880 Speaker 3: Yeah, So as a pharmaceutical company, we embrace the patent 56 00:03:03,120 --> 00:03:08,960 Speaker 3: system that a farmer company is rewarded back for decades 57 00:03:09,080 --> 00:03:14,760 Speaker 3: long research investments by having an exclusivity of a decade 58 00:03:14,880 --> 00:03:18,200 Speaker 3: or so on these products. When the exclusivity runs out, 59 00:03:18,280 --> 00:03:23,240 Speaker 3: we also welcome that the products become affordable and go 60 00:03:23,400 --> 00:03:27,880 Speaker 3: to a broader audience for access. And as long as 61 00:03:28,280 --> 00:03:33,600 Speaker 3: our company is able to innovate continuously, then I think 62 00:03:33,600 --> 00:03:35,320 Speaker 3: this is a really good system. And we've had a 63 00:03:35,400 --> 00:03:38,560 Speaker 3: history of one hundred plus years where we have embraced this. 64 00:03:39,040 --> 00:03:42,800 Speaker 3: So I sit here today as the CEO of the 65 00:03:42,880 --> 00:03:49,280 Speaker 3: company embracing this also when this goes into loe, knowing 66 00:03:49,320 --> 00:03:54,000 Speaker 3: and feeling that we are going to reinvent and reinnovate 67 00:03:54,280 --> 00:03:59,600 Speaker 3: once again and allowing this generations of the products to 68 00:03:59,640 --> 00:04:02,560 Speaker 3: become even more accessible past that period. 69 00:04:03,120 --> 00:04:06,800 Speaker 1: And for we goovie, I mean, you know, whole bunch 70 00:04:06,800 --> 00:04:09,040 Speaker 1: of people I would imagine who don't have the money 71 00:04:09,040 --> 00:04:12,000 Speaker 1: to stretch to Wigovy. We'll go for the generic option instead. 72 00:04:12,040 --> 00:04:14,040 Speaker 1: Will you have to drop the price of wegovy down? 73 00:04:14,080 --> 00:04:14,800 Speaker 2: Ifso, by how. 74 00:04:14,760 --> 00:04:21,240 Speaker 3: Much are you speaking for after the eloye? Yes, yeah, 75 00:04:21,240 --> 00:04:24,440 Speaker 3: that's you know, the eloye of the product is in 76 00:04:24,560 --> 00:04:28,800 Speaker 3: early thirty so twenty thirty one thirty two, and I 77 00:04:28,839 --> 00:04:32,000 Speaker 3: would leave the pricing policy of that decade to a 78 00:04:32,000 --> 00:04:34,000 Speaker 3: bit later on then right now, get into it. But 79 00:04:34,120 --> 00:04:40,200 Speaker 3: we are able to compete even when our products go generic, 80 00:04:40,320 --> 00:04:44,400 Speaker 3: as we have shown with insolins Today, Nova Nerdisk produces 81 00:04:44,440 --> 00:04:47,720 Speaker 3: half of the world's insulin and we are a leader 82 00:04:47,880 --> 00:04:52,200 Speaker 3: of the latest, most innovative weekly let's say insulin. But 83 00:04:52,279 --> 00:04:55,360 Speaker 3: we also provide the world with human insulin, a product 84 00:04:55,400 --> 00:04:59,560 Speaker 3: that was created forty years ago, and as well generous 85 00:04:59,640 --> 00:05:04,279 Speaker 3: general general into generic versions. And when you think about 86 00:05:04,640 --> 00:05:08,280 Speaker 3: countries like India or China where we compete with our 87 00:05:08,320 --> 00:05:13,520 Speaker 3: insulin products land of generics, we have the lion's share 88 00:05:13,560 --> 00:05:16,000 Speaker 3: of the market share in those markets because we're able 89 00:05:16,040 --> 00:05:21,359 Speaker 3: to sell those products competitively with those who are selling 90 00:05:21,400 --> 00:05:24,320 Speaker 3: the generic versions of it. But again we do that 91 00:05:24,440 --> 00:05:28,159 Speaker 3: proudly while also having the innovative products into the market. 92 00:05:29,120 --> 00:05:31,279 Speaker 2: Mike, thank you so much for you time. Enjoy Australia. 93 00:05:31,320 --> 00:05:34,760 Speaker 1: That's Mike Doustat who is the Novo NORDESK CEO. 94 00:05:35,600 --> 00:05:38,760 Speaker 3: For more from Hither Duplasy Alan Drive, listen live to 95 00:05:38,880 --> 00:05:41,919 Speaker 3: news talks. It'd be from four pm weekdays, or follow 96 00:05:41,960 --> 00:05:43,720 Speaker 3: the podcast on iHeartRadio.