1
00:00:02,520 --> 00:00:07,800
Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News Now.

2
00:00:07,600 --> 00:00:10,720
Speaker 2: For our top corporate story of the morning, Nova Noorda

3
00:00:10,800 --> 00:00:13,520
Speaker 2: shares rising and pre market trading. This is the drug

4
00:00:13,560 --> 00:00:16,200
Speaker 2: maker wins approval to sell a pill version of its

5
00:00:16,239 --> 00:00:19,520
Speaker 2: blockbuster obesity drug. We Govie joining us now with a

6
00:00:19,520 --> 00:00:21,400
Speaker 2: special guest, Katie Greifeld.

7
00:00:21,400 --> 00:00:24,640
Speaker 3: Hey Katie, Hey Anriy, Thank you very much joining me now.

8
00:00:24,680 --> 00:00:27,480
Speaker 3: I'm pleased to say is the CVO of Novo Nordis.

9
00:00:27,520 --> 00:00:30,600
Speaker 3: His name is Mike Dostar. Mike, great to have you

10
00:00:30,640 --> 00:00:32,960
Speaker 3: with us. Just to set the scene here when it

11
00:00:33,040 --> 00:00:35,800
Speaker 3: comes to the US market, you've been losing share to

12
00:00:35,880 --> 00:00:38,360
Speaker 3: your rival Eli Lily for a couple of years now,

13
00:00:38,400 --> 00:00:41,360
Speaker 3: but with this approval you have an important first mover

14
00:00:41,440 --> 00:00:44,960
Speaker 3: advantage when it comes to oral GLP ones. Given that

15
00:00:45,080 --> 00:00:47,400
Speaker 3: you expect to start selling the pill version of Wagov

16
00:00:47,520 --> 00:00:50,320
Speaker 3: in January, whereas Eli Lily isn't due on the market

17
00:00:50,360 --> 00:00:52,680
Speaker 3: until March, how do you plan to make the most

18
00:00:52,680 --> 00:00:53,480
Speaker 3: of this head start.

19
00:00:54,640 --> 00:00:56,720
Speaker 1: Thanks very much for having me, Katie. As they said,

20
00:00:56,800 --> 00:00:59,840
Speaker 1: Christmas comes early, so I'm super excited of course to

21
00:01:00,120 --> 00:01:04,720
Speaker 1: be here announcing the big OV pill. As you say,

22
00:01:04,920 --> 00:01:07,920
Speaker 1: this is really going to be super exciting for the

23
00:01:08,040 --> 00:01:11,000
Speaker 1: millions of patients that have been waiting to get their

24
00:01:11,040 --> 00:01:14,880
Speaker 1: hands on a GLP one pill. And for the first time,

25
00:01:14,959 --> 00:01:18,000
Speaker 1: we are having a pill that has an efficacy of

26
00:01:18,040 --> 00:01:21,240
Speaker 1: some seventeen percent if you take the pill regularly, and

27
00:01:21,360 --> 00:01:24,600
Speaker 1: one in three people are going to actually reduce up

28
00:01:24,640 --> 00:01:27,959
Speaker 1: to twenty percent weight loss. I think that data speaks

29
00:01:27,959 --> 00:01:30,280
Speaker 1: for itself, and we are super excited of course to

30
00:01:30,319 --> 00:01:33,319
Speaker 1: be the first to the market, and we're going to

31
00:01:33,600 --> 00:01:36,679
Speaker 1: go all in trying to make this a huge success.

32
00:01:37,120 --> 00:01:40,200
Speaker 3: Well moving forward, I mean beyond just these first few

33
00:01:40,240 --> 00:01:44,080
Speaker 3: months after Eli Lilly does have their pill on the market,

34
00:01:44,319 --> 00:01:47,200
Speaker 3: how do you plan to compete? What is your strategy there?

35
00:01:47,240 --> 00:01:49,880
Speaker 3: Given my understanding is that there's likely going to be

36
00:01:49,920 --> 00:01:52,320
Speaker 3: no restrictions when it comes to food, when it comes

37
00:01:52,320 --> 00:01:54,400
Speaker 3: to drinks around Lily's version.

38
00:01:55,640 --> 00:01:58,120
Speaker 1: Yeah, So, as I mentioned, there are no other phase

39
00:01:58,160 --> 00:02:03,360
Speaker 1: three trials of GP one that has shown this level efficacy.

40
00:02:03,920 --> 00:02:06,800
Speaker 1: This means that for the first time ever, people do

41
00:02:06,880 --> 00:02:13,160
Speaker 1: not have compromise between either taking an efficacious injection or

42
00:02:13,160 --> 00:02:16,400
Speaker 1: a convenient pill. For the first time ever, you have

43
00:02:16,560 --> 00:02:20,240
Speaker 1: the same efficacy of seventeen percent in injection or at

44
00:02:20,280 --> 00:02:21,960
Speaker 1: pill you can take it on a daily basis as

45
00:02:21,960 --> 00:02:24,480
Speaker 1: a pill or a weekly injection, and that I think

46
00:02:24,600 --> 00:02:28,160
Speaker 1: is the key selling point with WeGo v Pill. We

47
00:02:28,280 --> 00:02:33,480
Speaker 1: also have more than ten years of of course experience

48
00:02:33,520 --> 00:02:36,600
Speaker 1: with regards to safety data and what have you. That's

49
00:02:36,639 --> 00:02:38,880
Speaker 1: why it's called the vigov pill, which means that this

50
00:02:39,080 --> 00:02:41,720
Speaker 1: pill is not only going to reduce your weight, it

51
00:02:41,880 --> 00:02:46,240
Speaker 1: also has protection for your cardiovascular systems. So this is

52
00:02:46,280 --> 00:02:49,000
Speaker 1: a phenomenal pill, second to none, I would say, and

53
00:02:49,040 --> 00:02:50,760
Speaker 1: we are very ready to compete with it.

54
00:02:51,080 --> 00:02:53,280
Speaker 3: Let's talk about how you're going to sell it through.

55
00:02:53,280 --> 00:02:55,880
Speaker 3: What channels will you sell this way go v Pill

56
00:02:56,120 --> 00:02:58,760
Speaker 3: and will all of those channels be available at launch?

57
00:03:00,200 --> 00:03:02,880
Speaker 1: The quick answer is yes, we're going all in. We're

58
00:03:02,880 --> 00:03:06,200
Speaker 1: of course going to sell this through our own websites,

59
00:03:06,320 --> 00:03:09,519
Speaker 1: Novercare Pharmacy, as well as all of our partners be

60
00:03:09,639 --> 00:03:15,440
Speaker 1: it row, Live, MD, Costco, weight Watchers, everyone that you

61
00:03:15,440 --> 00:03:18,960
Speaker 1: can imagine is going to start launching this at the

62
00:03:19,000 --> 00:03:21,480
Speaker 1: same time on the day of the launch. Trump Our

63
00:03:21,720 --> 00:03:23,880
Speaker 1: X of course will be coming up soon as well

64
00:03:24,040 --> 00:03:28,359
Speaker 1: as well as, of course the traditional channels that usually

65
00:03:28,440 --> 00:03:30,000
Speaker 1: medicine is procrued in US.

66
00:03:30,520 --> 00:03:32,240
Speaker 3: Well to that point that you know it's going to

67
00:03:32,240 --> 00:03:34,840
Speaker 3: be widely available. Let's talk about supply. I know that

68
00:03:34,880 --> 00:03:38,880
Speaker 3: you've already started production. How confident are you that you're

69
00:03:38,920 --> 00:03:41,680
Speaker 3: going to be able to meet all of that demand

70
00:03:41,800 --> 00:03:45,360
Speaker 3: at launch, given, of course, the supply challenges that you've

71
00:03:45,360 --> 00:03:47,600
Speaker 3: been through in the past.

72
00:03:47,720 --> 00:03:49,600
Speaker 1: Let me take you back. You know, ten years ago,

73
00:03:49,840 --> 00:03:52,800
Speaker 1: when we started the journey of putting a peptide into

74
00:03:52,840 --> 00:03:56,960
Speaker 1: a pill, no one thought scientifically that is possible. You

75
00:03:57,040 --> 00:04:01,080
Speaker 1: have to remind your audience that pills are usually chemical entities,

76
00:04:01,280 --> 00:04:06,600
Speaker 1: small molecules, and not proteins and peptides, and often they

77
00:04:06,640 --> 00:04:10,400
Speaker 1: have lower efficacy because of that. When we decided to

78
00:04:10,440 --> 00:04:14,080
Speaker 1: actually go this route, everyone thought scientifically, this is impossible.

79
00:04:14,200 --> 00:04:17,240
Speaker 1: Then after that, when we prove them wrong, people thought

80
00:04:17,240 --> 00:04:20,000
Speaker 1: that we cannot scale that because this is quite difficult

81
00:04:20,080 --> 00:04:23,719
Speaker 1: to do again because it's large molecule inside a pill. Again,

82
00:04:24,200 --> 00:04:27,679
Speaker 1: we have shown confidence that we are able to scale

83
00:04:27,680 --> 00:04:31,000
Speaker 1: this more than enough for every single person who would

84
00:04:31,040 --> 00:04:33,640
Speaker 1: want to take the pill, and we're ready for that.

85
00:04:33,760 --> 00:04:36,680
Speaker 1: And then of course, lastly, people are writing us off

86
00:04:36,760 --> 00:04:38,520
Speaker 1: that you know, this would not be possible at an

87
00:04:38,560 --> 00:04:42,080
Speaker 1: affordable price. And I'm also very happy to say once again,

88
00:04:42,360 --> 00:04:45,000
Speaker 1: we are proving all of these skeptics wrong. So I'm

89
00:04:45,040 --> 00:04:47,920
Speaker 1: super excited that we have something that is borderline miracle

90
00:04:47,960 --> 00:04:51,200
Speaker 1: in my own humble opinion, a peptide in a pill

91
00:04:51,839 --> 00:04:55,279
Speaker 1: with a high efficacy, produce at scale, and we're going

92
00:04:55,360 --> 00:04:58,520
Speaker 1: to actually sell it through all channels at relatively affordable price.

93
00:04:59,080 --> 00:05:03,039
Speaker 3: I'm curious how you see this market evolving. Whether you

94
00:05:03,080 --> 00:05:05,880
Speaker 3: think that, you know, having this pill version available will

95
00:05:05,880 --> 00:05:09,200
Speaker 3: expand the total addressable market, the total number of patients

96
00:05:09,200 --> 00:05:11,320
Speaker 3: that you can reach, or whether or not it might

97
00:05:11,440 --> 00:05:14,240
Speaker 3: cannibalize the injectibles that you're already serving.

98
00:05:15,880 --> 00:05:18,560
Speaker 1: You know, in my own family and circle of friends,

99
00:05:18,600 --> 00:05:20,320
Speaker 1: there are a number of people that have been very

100
00:05:20,320 --> 00:05:23,480
Speaker 1: attracted in taking a gop one product and reducing weight.

101
00:05:24,000 --> 00:05:27,680
Speaker 1: Unfortunately that have not you know, taken that journey because

102
00:05:27,680 --> 00:05:30,600
Speaker 1: they've been either afraid of injections or there's the taboo

103
00:05:30,640 --> 00:05:34,479
Speaker 1: of injection. I think a lot of these people today

104
00:05:34,839 --> 00:05:39,600
Speaker 1: will be able to find big ov pill incredibly interesting

105
00:05:39,760 --> 00:05:42,719
Speaker 1: as a weight again to come in get the same

106
00:05:42,760 --> 00:05:47,279
Speaker 1: efficacy as your injection, but in a form factor of

107
00:05:47,320 --> 00:05:51,240
Speaker 1: a pill. So in short, I think the market will

108
00:05:51,279 --> 00:05:54,359
Speaker 1: expand quite a bit actually for many of these people

109
00:05:54,360 --> 00:05:58,280
Speaker 1: that have just been waiting and seeing the injectable versions

110
00:05:58,279 --> 00:06:01,919
Speaker 1: of these gop one products taking taking the world by storm.

111
00:06:02,480 --> 00:06:04,440
Speaker 3: And of course we have to talk about pricing and

112
00:06:04,480 --> 00:06:07,599
Speaker 3: how that plays into the political picture. Many drug makers,

113
00:06:07,600 --> 00:06:11,440
Speaker 3: yourself included, have made pricing deals with the Trump administration.

114
00:06:11,560 --> 00:06:14,680
Speaker 3: And given that those deals have already been made, what

115
00:06:14,800 --> 00:06:18,360
Speaker 3: additional political hurdles do you see, if any, in twenty

116
00:06:18,400 --> 00:06:19,039
Speaker 3: twenty six.

117
00:06:20,279 --> 00:06:23,440
Speaker 1: Well, again, the whole, the whole negotiation with the Trump's

118
00:06:23,440 --> 00:06:27,719
Speaker 1: administration has been around providing access at an affordable price.

119
00:06:27,760 --> 00:06:31,360
Speaker 1: And we have announced that we will start the starting

120
00:06:31,400 --> 00:06:33,960
Speaker 1: those of the big O V pill at one nine,

121
00:06:34,640 --> 00:06:37,279
Speaker 1: which I think is a very you know, affordable price

122
00:06:37,360 --> 00:06:41,280
Speaker 1: for many Americans to to to get interested at. And

123
00:06:41,440 --> 00:06:44,560
Speaker 1: and and I will say that as we go forward,

124
00:06:44,600 --> 00:06:48,240
Speaker 1: of course, we will very much like to continue expanding

125
00:06:48,240 --> 00:06:50,960
Speaker 1: the market, and we will make sure that the price

126
00:06:51,080 --> 00:06:54,640
Speaker 1: levels are in a way that that that that that

127
00:06:54,640 --> 00:06:55,720
Speaker 1: that will make us do that.

128
00:06:56,360 --> 00:06:57,960
Speaker 3: And Mike, before I let you go, I have to

129
00:06:58,000 --> 00:06:59,720
Speaker 3: ask you about m and A. Of course, you had

130
00:06:59,720 --> 00:07:03,359
Speaker 3: that eye profile bidding war with Pizer over met Sarah.

131
00:07:03,400 --> 00:07:06,600
Speaker 3: Pfizer ultimately came out on top. But with that in

132
00:07:06,640 --> 00:07:09,960
Speaker 3: the background, Are you still looking to pursue deals here,

133
00:07:10,120 --> 00:07:12,880
Speaker 3: deals here to help fill out your pipeline so to speak.

134
00:07:13,920 --> 00:07:17,440
Speaker 1: Absolutely, we have made it very clear that we would

135
00:07:17,520 --> 00:07:20,760
Speaker 1: like to sustain our leadership in diabetes and obesity and

136
00:07:20,800 --> 00:07:24,280
Speaker 1: go very deep. We have a fantastic pipeline in both

137
00:07:24,280 --> 00:07:27,679
Speaker 1: of those therapy areas. But the world is very large.

138
00:07:27,680 --> 00:07:30,720
Speaker 1: We are dealing with some close to two billion people

139
00:07:30,720 --> 00:07:35,000
Speaker 1: that are suffering from diabetes, obesity and overweight. And when

140
00:07:35,040 --> 00:07:39,880
Speaker 1: you're having an ambition to actually capture as many patients

141
00:07:39,920 --> 00:07:43,160
Speaker 1: as possible from this very large pool, then you will

142
00:07:43,200 --> 00:07:46,720
Speaker 1: continue looking not just in your own research shop, but

143
00:07:46,840 --> 00:07:50,480
Speaker 1: everywhere else to see how complimentary wise you could actually

144
00:07:50,520 --> 00:07:56,560
Speaker 1: have the best pipeline available and the best offering amongst

145
00:07:56,600 --> 00:07:57,640
Speaker 1: all your competitors.

146
00:07:58,000 --> 00:07:59,800
Speaker 3: Well, Mike, I know it is a big day for

147
00:08:00,720 --> 00:08:03,440
Speaker 3: I really appreciate you taking the time for Bloomberg Television.

148
00:08:03,640 --> 00:08:06,160
Speaker 3: Happy holidays when you get there. That is Mike Dostar.

149
00:08:06,280 --> 00:08:08,640
Speaker 3: He is the CEO of Novo Nordisk