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Speaker 1: Global business news twenty four hours a day. If Bloomberg

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Speaker 1: dot Com, the radio plus Mobile act and on your radio.

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Speaker 1: This is a Bloomberg Business Flash from Bloomberg World Headquarters.

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Speaker 1: I'm Catherine Coldery. We check the markets every fifteen minutes

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Speaker 1: throughout the trading day. Let's head over to the First

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Speaker 1: Word Breaking News ESK for today's afternoon call with Bill Maloney. Bill,

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Speaker 1: good afternoon, Catherine Sharp gains again for U S stots today.

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Speaker 1: DAW is currently hired by a hundred and eighty one points,

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Speaker 1: says Bees rise twenty two and NASA gains forty eight

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Speaker 1: Over in Europe, Vi Nique, I'm sorry. Over in Europe,

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Speaker 1: the UK climbed two point three percent. Bank of England's

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Speaker 1: Carney said the b O we will probably have to

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Speaker 1: ease policy over the summer. Back In the US, small

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Speaker 1: cap six hundred rises ten points and the U S

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Speaker 1: tenure yield at one point for eight percent. All ten

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Speaker 1: SV sectors are higher, led by gains in staples industrials

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Speaker 1: and the utilities Doubt Transports climb forty seven As a

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Speaker 1: botechs underperform game eight points, and the vix is down

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Speaker 1: by four percent. Down leaders included g E, Intel and IBM,

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Speaker 1: while Visa fell three and a half percent and dealing

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Speaker 1: those Hershey's board rejected a twenty three billion dollar takeover

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Speaker 1: bid from Mondols and finally look for Micron results out

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Speaker 1: after the bell live on the first Breaking News Desk

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Speaker 1: on Bill Maloney. Katherine, thank you, Bill, and to hear

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Speaker 1: live breaking news over your Bloomberg type s q U

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Speaker 1: A K on your terminal. West Texas Intermediac crude oil

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Speaker 1: is currently down a dollar thirty five of barrel two

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Speaker 1: point seven percent at three spout gold down three dollars

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Speaker 1: fifty cents aggounce at the ten year treasury is up

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Speaker 1: eleven thirty seconds with the yield of one point four

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Speaker 1: seven percent. And that's a Bloomberg business flash. You're listening

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Speaker 1: to Taking Stock with Kathleen and Pim Fox on bloom

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Speaker 1: Bird Radio. We are turning now to healthcare, a very

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Speaker 1: exciting development for up Co Health. We've had the founder

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Speaker 1: and head of up go on the show and the

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Speaker 1: Fast Dr Phil Frost, and today we're very delighted to

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Speaker 1: welcome Dr Charles Bishop. He's the CEO of upco's UPco

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Speaker 1: Health Renal division. He joins us from Miami today to

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Speaker 1: talk about the f d A approving reyal D. It

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Speaker 1: is a treatment, a drug that is going to help

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Speaker 1: millions of Americans with some very serious conditions. Dr Bishop,

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Speaker 1: welcome to the show. Kathleen, Thank you so very much.

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Speaker 1: You must feel uh, I mean, I know this approval

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Speaker 1: was expected, but still it's a very important milestone. First

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Speaker 1: talked to us about that. There there's two parts of this.

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Speaker 1: Let's start with calm chronic kidney disease and how Real

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Speaker 1: D fights that. Chronic kidney disease we call it t

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Speaker 1: k for sure, is a disorder the develops in about

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Speaker 1: of the American population. It's a major source of healthcare expenditures.

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Speaker 1: The drug Reality that was just approved by FDA does

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Speaker 1: not itself treat c k D. In other words, it

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Speaker 1: doesn't slow the disease. But what it's a proof for

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Speaker 1: is to treat a complication that arises with chronic kidney disease.

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Speaker 1: That complication is secondary hyperparathyroidism arising from vitamin D insufficiency.

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Speaker 1: And this is a very serious condition because secondary hyperparathyroidism

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Speaker 1: SHPT prevents the body producing enough vitamin D hormone to

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Speaker 1: regulate calcium and phosphorus metabolism, so their bones start softening.

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Speaker 1: That's correct. If you have kidney disease and it's progressing

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Speaker 1: and you're not paying attention to whether you're managing secondary hyperparathyroidism,

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Speaker 1: you are going to have complications with regard to your skeleton.

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Speaker 1: You find that as SHPT as we call it, progresses,

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Speaker 1: patients lose their bones and the calcium and phosphorus lost

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Speaker 1: from the bones is deposited in the lining or the

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Speaker 1: media of the arteries and in the heart, and the

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Speaker 1: consequence of this is that the arteries become calcified, hardened,

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Speaker 1: They put a lot of burden on the heart and

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Speaker 1: the cardiovascular events arise. So you find the patients with

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Speaker 1: chronic kidney disease don't typically have morbidity and mortality related

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Speaker 1: to renal insufficiency or kidney insufficiency. Rather, they have morbidity

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Speaker 1: and mortality arising from cardiovascular events that are caused by

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Speaker 1: vascular classification, and that vascular calcification, of course, is driven

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Speaker 1: by SHP. Now you became part of OpCo and serving

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Speaker 1: as the OpCo Real Division chief when OpCo acquired Cytochroma

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Speaker 1: back in I could long long career of many steps

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Speaker 1: in it, but I just want to particularly focus on

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Speaker 1: eighty seven to two thousand five, when you held various

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Speaker 1: management positions at bone Care International. So you've been looking

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Speaker 1: at developing and commercializing vitamin D therapies for a long time.

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Speaker 1: What was the hardest part was the biggest challenge in

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Speaker 1: developing reality, Well, always in developing new drugs, especially in

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Speaker 1: startup pharma, it's it's a big challenge to raise the

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Speaker 1: required funding in order to pay for the clinical trials.

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Speaker 1: At Bunker International, I was the first employee and I

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Speaker 1: ran that company for most of its existence until it

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Speaker 1: was sold to gen Time for seven hundred and twenty

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Speaker 1: million dollars. During the course of that history of Bunker International,

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Speaker 1: we were that we developed a new therapy for secondary

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Speaker 1: hyper carethrotism and got it approved for dialysis patients as

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Speaker 1: well as for pre dialysis patients. In fact, this drug,

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Speaker 1: called Hectoral, was the first modern vitamin need therapy to

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Speaker 1: treat secondary hyperparaviroidism. But the biggest challenge was raising the cash.

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Speaker 1: And the same thing is true inside of Chroma. After

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Speaker 1: I left bone Care with the acquisition by a gen Zime,

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Speaker 1: I started a new company that began working on Reality.

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Speaker 1: That company was called Prevented Therapeutics. Prevent If Therapeutics was

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Speaker 1: acquired by Side of Chroma became the president CEO of

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Speaker 1: side of Chroma. Then again the same challenge raising enough

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Speaker 1: cash to get the drug accrudi. So the bottom line

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Speaker 1: of APCO Health, what does this approval of Railty mean

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Speaker 1: and what what kind of revenue booster are sales of

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Speaker 1: the drug going to mean for you? Raality is an

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Speaker 1: exciting product. It's the first drug to be approved for

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Speaker 1: this indication. There's no other drug anywhere in the world

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Speaker 1: that's been approved to treat the indication of secondary hyperpare

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Speaker 1: virreutism arising in prediallysis patients as a consequence of itemint insufficiency.

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Speaker 1: We will be able to move Reality into the US

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Speaker 1: market as the first effective treatment for this particular disorder,

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Speaker 1: and I'm expecting that it could drive very major sales

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Speaker 1: for OpCo. Well. Dr Charles Bishop, thank you so much

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Speaker 1: for joining me today on taking stock. He's the CEO

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Speaker 1: of Optico Health Renal Division, joining me today from Miami, Florida,

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Speaker 1: talking about the approval of real D. As he said,

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Speaker 1: treating this this very difficult disease secondary hyperthyroidism. UH. The

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Speaker 1: only drug in US that will be able to treat

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Speaker 1: it so effectively. I'm caffeine Hayes. This is taking stock,

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