1 00:00:02,440 --> 00:00:06,840 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:07,280 --> 00:00:10,080 Speaker 2: It's difficult to go to cocktail parties these days without 3 00:00:10,960 --> 00:00:14,040 Speaker 2: getting one sip in and a question about weight loss 4 00:00:14,080 --> 00:00:14,920 Speaker 2: drugs GLP one. 5 00:00:15,080 --> 00:00:16,120 Speaker 1: What is GLP one? 6 00:00:16,480 --> 00:00:19,800 Speaker 2: People say it without knowing, as you said, GIP and 7 00:00:19,840 --> 00:00:23,000 Speaker 2: so forth, And that what an honor that is to 8 00:00:23,440 --> 00:00:27,560 Speaker 2: have such an interesting invention that can augment so many 9 00:00:27,560 --> 00:00:30,880 Speaker 2: people's lives. So, you know, we've been working in this 10 00:00:30,920 --> 00:00:34,600 Speaker 2: space for a very long time. That's probably not well recognized. 11 00:00:35,880 --> 00:00:39,720 Speaker 2: We licensed our first GLP one. We partnered it with 12 00:00:39,760 --> 00:00:42,600 Speaker 2: a company called Ammelin in two thousand and three. We 13 00:00:42,680 --> 00:00:44,479 Speaker 2: launched the drug in two thousand and five. It was 14 00:00:44,640 --> 00:00:47,760 Speaker 2: twice a day injection and it wasn't very good, but 15 00:00:47,800 --> 00:00:51,080 Speaker 2: it was the first GLP one drug. So I like 16 00:00:51,120 --> 00:00:52,800 Speaker 2: to talk about this as sort of a twenty year 17 00:00:52,840 --> 00:00:57,120 Speaker 2: overnight success. Most of the appreciation of that has come 18 00:00:57,160 --> 00:01:00,080 Speaker 2: in the last eighteen months. But kind of what we 19 00:01:00,200 --> 00:01:03,320 Speaker 2: do well and I think underappreciated part of our industry 20 00:01:03,640 --> 00:01:07,640 Speaker 2: is the time and energy it takes to create so 21 00:01:07,760 --> 00:01:11,600 Speaker 2: called breakthroughs in some ways. You know, the industry showed 22 00:01:12,160 --> 00:01:14,840 Speaker 2: a lot of prowess during COVID and we're very proud 23 00:01:14,840 --> 00:01:17,880 Speaker 2: of that, But viral pathogens are really easy to conquer. 24 00:01:18,040 --> 00:01:20,880 Speaker 2: Human disease that's more metabolic, or cancer, which is an 25 00:01:20,920 --> 00:01:24,920 Speaker 2: aid or immunity are much harder. And that sort of 26 00:01:24,920 --> 00:01:26,880 Speaker 2: taught everyone that if we just put enough money and 27 00:01:26,920 --> 00:01:30,000 Speaker 2: attention on something, we could fixed it in a year. Right, 28 00:01:30,120 --> 00:01:33,520 Speaker 2: But that's not how most diseases work, and not how 29 00:01:34,120 --> 00:01:37,039 Speaker 2: obesity works. But you know, through the years, we iterated 30 00:01:37,120 --> 00:01:41,360 Speaker 2: and we found new things, mostly that what was the 31 00:01:41,480 --> 00:01:45,199 Speaker 2: drug design for blood sugar control, that if we could 32 00:01:45,200 --> 00:01:46,839 Speaker 2: give it at higher doses. 33 00:01:47,080 --> 00:01:49,320 Speaker 1: You saw pretty profound weight changes. 34 00:01:49,920 --> 00:01:53,440 Speaker 2: And then our scientists and the early part of the 35 00:01:54,200 --> 00:01:57,920 Speaker 2: twenty tens noticed that if we put two of these 36 00:01:58,640 --> 00:02:02,320 Speaker 2: so called ankorton family proteins, so as you're eating your salad, 37 00:02:02,440 --> 00:02:05,040 Speaker 2: your stomach is sending proteins to the other parts of 38 00:02:05,040 --> 00:02:08,040 Speaker 2: your body to say I'm being fed right now. One 39 00:02:08,040 --> 00:02:11,400 Speaker 2: of those is GLP one, which really affects glucose signaling. 40 00:02:11,400 --> 00:02:15,840 Speaker 2: Another is GIP, which affects fat metabolism, and by putting 41 00:02:15,840 --> 00:02:19,600 Speaker 2: them together in a mouse in twenty ten, we demonstrated 42 00:02:19,639 --> 00:02:22,960 Speaker 2: that you would lose even more weight and it tolerazed 43 00:02:23,040 --> 00:02:25,960 Speaker 2: as well. Some of the nausea that people experience with 44 00:02:26,000 --> 00:02:29,560 Speaker 2: GLP one alone. So we went about designing that into 45 00:02:29,600 --> 00:02:31,280 Speaker 2: a drug, which we did in twenty fourteen. 46 00:02:31,880 --> 00:02:33,560 Speaker 1: And in twenty sixteen, I. 47 00:02:33,480 --> 00:02:35,440 Speaker 2: Remember a phone call I got from our current chief 48 00:02:35,480 --> 00:02:38,359 Speaker 2: scientific officer, he was in a different role at the time, 49 00:02:38,800 --> 00:02:41,560 Speaker 2: saying you have to see this data. We tried this 50 00:02:41,639 --> 00:02:45,440 Speaker 2: medicine in a dozen people in Singapore who are otherwise healthy, 51 00:02:45,960 --> 00:02:47,520 Speaker 2: most of which had to drop out of the study 52 00:02:47,520 --> 00:02:49,760 Speaker 2: because they lost so much weight they needed to eat. 53 00:02:50,639 --> 00:02:54,840 Speaker 2: So at that moment I was like, Okay, now we 54 00:02:54,880 --> 00:02:55,799 Speaker 2: go as hard as we can. 55 00:02:56,240 --> 00:02:58,040 Speaker 3: And when you're trying to go as hard as you can, 56 00:02:58,160 --> 00:03:02,280 Speaker 3: ultimately there is a sheer force demand and limitations of supply. 57 00:03:02,360 --> 00:03:04,799 Speaker 1: What does that look like right now? Because this is. 58 00:03:05,120 --> 00:03:08,799 Speaker 3: Able to be consumed, to be used, it's almost worldwide, 59 00:03:08,800 --> 00:03:10,919 Speaker 3: but actually only a few markets you can actually get 60 00:03:10,919 --> 00:03:11,400 Speaker 3: into it them. 61 00:03:11,560 --> 00:03:13,840 Speaker 2: Yeah, we've really only launched in three markets right now 62 00:03:13,880 --> 00:03:15,840 Speaker 2: in a full form. 63 00:03:16,240 --> 00:03:17,640 Speaker 1: We're working on expanding supply. 64 00:03:18,080 --> 00:03:22,519 Speaker 2: In twenty twenty two, when we launched Manjaro in the US, 65 00:03:22,560 --> 00:03:26,560 Speaker 2: between Lily and Novo combined, we probably made enough of 66 00:03:26,600 --> 00:03:28,399 Speaker 2: this class of medicines for about twelve. 67 00:03:28,200 --> 00:03:31,320 Speaker 1: Million people on the planet. Just twelve and. 68 00:03:31,960 --> 00:03:34,960 Speaker 2: Two weeks ago, the WHO said there's a billion people 69 00:03:34,960 --> 00:03:37,680 Speaker 2: with obesity, so we're a little short of their goal. 70 00:03:39,200 --> 00:03:42,760 Speaker 2: We set about building new facilities. Novo has as well. 71 00:03:42,760 --> 00:03:46,480 Speaker 2: They're buying companies and we're partnering with other companies to expand. 72 00:03:47,280 --> 00:03:50,520 Speaker 2: But interesting thing is, you know, these are proteins, so 73 00:03:50,560 --> 00:03:54,120 Speaker 2: they're a very specific kind of medicine that's complicated, and 74 00:03:54,160 --> 00:03:56,680 Speaker 2: then we put it in an injectable system, which has 75 00:03:56,720 --> 00:03:59,960 Speaker 2: to be We can't purify, we can't assure that it's 76 00:04:00,360 --> 00:04:02,360 Speaker 2: cure at the end of the process. We have to 77 00:04:02,360 --> 00:04:05,560 Speaker 2: make sure the whole processes so it's ultra cleanroom conditions 78 00:04:05,600 --> 00:04:08,920 Speaker 2: basically to make it, and then we put it in 79 00:04:08,960 --> 00:04:13,400 Speaker 2: a little injection device that kind of system. Probably in 80 00:04:13,440 --> 00:04:16,920 Speaker 2: the whole world, eighty percent of the capacities is already 81 00:04:16,960 --> 00:04:18,960 Speaker 2: controlled by Lillian Novos, so there are. 82 00:04:18,839 --> 00:04:23,880 Speaker 1: Not built sites to go buy or rent to make more. 83 00:04:23,920 --> 00:04:27,200 Speaker 1: We have to make them ourselves, so we're doing that. 84 00:04:27,520 --> 00:04:32,599 Speaker 2: We currently have six manufacturing facilities under production are being 85 00:04:32,600 --> 00:04:35,919 Speaker 2: stood up. We had fourteen before, so that's like a 86 00:04:35,920 --> 00:04:38,400 Speaker 2: fifty percent increase. We'll probably have a few more by 87 00:04:38,440 --> 00:04:40,320 Speaker 2: the end of the year. Announced I mean, we're going 88 00:04:40,320 --> 00:04:44,279 Speaker 2: as hard as we can, but capital is not the constraint. 89 00:04:44,360 --> 00:04:46,800 Speaker 2: Time is the constraint. Those buildings take three or four 90 00:04:46,880 --> 00:04:48,440 Speaker 2: years from. 91 00:04:48,360 --> 00:04:50,440 Speaker 1: Announcement to come online. 92 00:04:50,600 --> 00:04:53,839 Speaker 2: So right now in the US there's frustration because there's 93 00:04:53,839 --> 00:04:56,040 Speaker 2: shortages of these, but we haven't even introduced them and 94 00:04:56,320 --> 00:04:59,800 Speaker 2: most of Europe or the world, so more to do. 95 00:05:00,920 --> 00:05:04,240 Speaker 2: One project we're working on could change that. Which is 96 00:05:04,279 --> 00:05:08,160 Speaker 2: an oral solid, so it's not a protein, it's chemistry, 97 00:05:08,520 --> 00:05:10,919 Speaker 2: and it's not in that injectible device which is so 98 00:05:10,960 --> 00:05:11,680 Speaker 2: difficult to make. 99 00:05:11,760 --> 00:05:15,000 Speaker 1: It's a pressed tablet. There's a lot of the. 100 00:05:14,920 --> 00:05:17,719 Speaker 2: World as a wash in those capacities, and so should 101 00:05:17,720 --> 00:05:19,680 Speaker 2: the drug be successful, I think we'll be able to 102 00:05:19,760 --> 00:05:23,120 Speaker 2: tap into quite a bit more supply, which will be 103 00:05:23,360 --> 00:05:25,359 Speaker 2: good for the US, but even better for places like 104 00:05:25,400 --> 00:05:29,160 Speaker 2: Brazil or Mexico or China where actually mostly of these 105 00:05:29,160 --> 00:05:32,080 Speaker 2: people on the planet live and where the biggest health 106 00:05:32,120 --> 00:05:33,080 Speaker 2: difference could be made. 107 00:05:33,200 --> 00:05:36,960 Speaker 3: And I know that actually really through its almost education 108 00:05:37,120 --> 00:05:39,640 Speaker 3: campaigns and some of its advertising, really have been thinking 109 00:05:40,400 --> 00:05:45,040 Speaker 3: very much so about equality within the consumption of these drugs. 110 00:05:45,200 --> 00:05:47,880 Speaker 3: But before we go to that particular part, before we 111 00:05:48,040 --> 00:05:49,599 Speaker 3: think more about R and D, in a way. 112 00:05:49,440 --> 00:05:51,000 Speaker 1: In which these can be orally ingested. 113 00:05:51,279 --> 00:05:55,520 Speaker 3: I mean that has been ultimately a hype, and it's 114 00:05:55,560 --> 00:05:56,680 Speaker 3: almost not of your doing. 115 00:05:56,720 --> 00:05:58,040 Speaker 1: It's not to do with the. 116 00:05:57,960 --> 00:06:00,880 Speaker 3: Pharmaceutical companies, the biotechs that are bring this. This is 117 00:06:00,880 --> 00:06:03,120 Speaker 3: actually a force of culture, a force of social media, 118 00:06:03,240 --> 00:06:06,240 Speaker 3: a force of celebrity, and so much so that you 119 00:06:06,360 --> 00:06:08,679 Speaker 3: recently put out a campaign ahead of the oscars saying, 120 00:06:08,960 --> 00:06:12,960 Speaker 3: you know, please don't take this if you don't need it. 121 00:06:13,400 --> 00:06:17,440 Speaker 3: Can you articulate some of the frustration of those stakeholders, 122 00:06:17,440 --> 00:06:19,280 Speaker 3: maybe your employees, who want this to be in the 123 00:06:19,360 --> 00:06:20,920 Speaker 3: right hands of the right people on that. 124 00:06:21,560 --> 00:06:24,040 Speaker 2: Yeah, so we launched this campaign, and we can come 125 00:06:24,040 --> 00:06:27,480 Speaker 2: back to why we did that, but we really do 126 00:06:27,760 --> 00:06:29,360 Speaker 2: want to make sure the medicines get to the people 127 00:06:29,360 --> 00:06:33,480 Speaker 2: who need them most. And obesity, for so one reason 128 00:06:33,480 --> 00:06:37,240 Speaker 2: we launched it is destigmatizing a health problem. 129 00:06:37,800 --> 00:06:38,680 Speaker 1: So people think. 130 00:06:38,560 --> 00:06:43,200 Speaker 2: Of obesity as a willpower problem, as an appearance problem, 131 00:06:43,720 --> 00:06:46,960 Speaker 2: as a close fitting problem, or as a mobility problem, 132 00:06:47,440 --> 00:06:50,600 Speaker 2: not necessarily as a health problem. But people who have 133 00:06:50,680 --> 00:06:54,599 Speaker 2: obesity or overweight all their life have a shorter life. 134 00:06:55,000 --> 00:06:59,640 Speaker 2: I mean, it is a life shortening condition and it's 135 00:06:59,760 --> 00:07:04,440 Speaker 2: your shorter life because your cardiovasca risk is higher, diabetes, dementia, 136 00:07:05,160 --> 00:07:08,440 Speaker 2: two hundred human diseases that are derived from carrying excess 137 00:07:08,480 --> 00:07:12,120 Speaker 2: body weight or obesity. So that's why we invented these 138 00:07:13,440 --> 00:07:15,520 Speaker 2: that's number one. Number two, we didn't study them and 139 00:07:15,600 --> 00:07:20,640 Speaker 2: otherwise healthy people. While we don't have a great scientific 140 00:07:20,760 --> 00:07:24,040 Speaker 2: rationale for the cutoffs of what we call BMI body 141 00:07:24,040 --> 00:07:27,920 Speaker 2: mass index, we just sort of notice what's higher or 142 00:07:27,960 --> 00:07:30,720 Speaker 2: lower and we use the cutoffs established in medicine. It 143 00:07:30,760 --> 00:07:33,280 Speaker 2: could later turn out to be true that what we 144 00:07:33,320 --> 00:07:37,240 Speaker 2: think is a healthy body weight isn't. But what we 145 00:07:37,320 --> 00:07:41,000 Speaker 2: do know is people who are obese do have all 146 00:07:41,000 --> 00:07:44,120 Speaker 2: these adverse health consequences, and that's why we study them 147 00:07:44,160 --> 00:07:46,480 Speaker 2: in those populations and why we're doing further studies on 148 00:07:46,880 --> 00:07:50,000 Speaker 2: preventing those very things that OBCD can cause.