WEBVTT - Alex Gorsky 0:00:00.440 --> 0:00:03.920 This is Bloomberg Best. Bloomberg Best is about the insight 0:00:04.120 --> 0:00:06.480 and the context that we get from our guests. It's 0:00:06.519 --> 0:00:07.880 a great way to catch up on some of the 0:00:07.920 --> 0:00:10.520 stories you might have missed on the Bloomberg stories you're 0:00:10.560 --> 0:00:14.600 not going to find in any other news organizations. Bloomberg 0:00:14.720 --> 0:00:18.440 Best Bloomberg's Best stories of the week, powered by twenty 0:00:18.520 --> 0:00:21.320 seven hundred journalists and endalysts in more than a hundred 0:00:21.320 --> 0:00:24.360 twenty countries around the world. I'm at Baxter and I'm 0:00:24.400 --> 0:00:28.800 Denise Pellegrini on this weekend edition of Bloomberg Best. By 0:00:28.960 --> 0:00:31.000 late this year, early next year, we should be in 0:00:31.040 --> 0:00:35.640 a position to begin reviews with regulatory authorities. Johnson and 0:00:35.720 --> 0:00:38.720 Johnson on the race for a COVID nineteen vaccine. It's 0:00:38.720 --> 0:00:41.760 going to be very important as we think about, you know, 0:00:41.840 --> 0:00:45.040 returning to a new kind of normal. CEO Alex Skorski says, 0:00:45.200 --> 0:00:49.080 resistance to a vaccine will paid. I had a bicycling 0:00:49.159 --> 0:00:51.120 accident where I had to get some stitches in my hand, 0:00:51.200 --> 0:00:53.000 and of course when I went to the local hospital, 0:00:53.320 --> 0:00:55.560 I made sure that they were our teachers. And the 0:00:55.600 --> 0:00:59.600 importance of product loyalty when you're CEO, all this and 0:00:59.720 --> 0:01:02.560 more coming up in the next hour of Bloomberg Best 0:01:04.400 --> 0:01:06.360 And of course, the race for a cure or a 0:01:06.440 --> 0:01:09.520 vaccine for COVID nineteen is one of the biggest stories 0:01:09.600 --> 0:01:12.080 we've been all over here at Bloomberg. Yeah, exactly, the 0:01:12.120 --> 0:01:14.319 NAT We've had a chance to hear from the chairman 0:01:14.360 --> 0:01:16.800 and CEO of Johnson and Johnson all about it, And 0:01:16.880 --> 0:01:20.200 David Rubinstein spoke to Alex Gorsky on the David Rubinstein 0:01:20.240 --> 0:01:23.280 Show Peer to peer conversations about it, And David begins 0:01:23.319 --> 0:01:27.120 here by asking Gorsky about efforts to beat the pandemic. Now, 0:01:27.160 --> 0:01:29.840 some people say the most commonly spoken words in the 0:01:29.880 --> 0:01:33.000 English language today are can you hear me? Because of 0:01:33.480 --> 0:01:36.200 the zoom phenomenon. But I assume in your case, the 0:01:36.240 --> 0:01:38.880 most commonly asked question of you is when is the 0:01:38.959 --> 0:01:42.000 vaccine coming? So you must get asked this about every 0:01:42.000 --> 0:01:44.440 hour on the hour. So why don't I just do 0:01:44.520 --> 0:01:47.480 this as well? When is your vaccine coming? Well, like, 0:01:47.600 --> 0:01:50.200 it's usually about every fifteen minutes actually that I get 0:01:50.240 --> 0:01:53.120 asked that, and uh, And let me start by saying 0:01:53.160 --> 0:01:56.720 I could not be more proud of the incredible work 0:01:57.680 --> 0:02:01.600 that our scientists and our engineers have been doing over 0:02:01.640 --> 0:02:04.120 the past nine months to to put us into the 0:02:04.120 --> 0:02:06.920 position that we are today with a vaccine. I mean 0:02:06.960 --> 0:02:09.560 to think that, you know, what would ordinarily take five 0:02:09.680 --> 0:02:12.240 or seven years, we've been able to do in you know, 0:02:12.240 --> 0:02:16.200 a matter of months. Is quite remarkable. And uh, you know, 0:02:16.440 --> 0:02:19.520 without the heart their hard work and dedication. You know, 0:02:19.880 --> 0:02:24.560 probably forty thousand of our hundred fifty employees, mostly in 0:02:24.600 --> 0:02:28.840 our factories and facilities and our laboratories have still been 0:02:28.840 --> 0:02:33.040 working and um and they've been going literally around the 0:02:33.080 --> 0:02:36.000 clock to make that possible. And look, we still have 0:02:36.040 --> 0:02:37.240 a lot of work to do, but we made a 0:02:37.240 --> 0:02:39.639 lot of progress and uh, and we'll be finding out 0:02:39.680 --> 0:02:41.440 a lot more in the coming weeks and months. But 0:02:41.919 --> 0:02:44.480 you know, consistent with what we talked about just recently 0:02:44.480 --> 0:02:46.639 when we announced the start of our Phase three trial, 0:02:47.200 --> 0:02:49.960 we would expect by late this year early next year, 0:02:50.000 --> 0:02:53.520 we should be in a position to begin reviews with 0:02:53.600 --> 0:02:57.320 regulatory authorities to see if our vaccine UH is in 0:02:57.400 --> 0:03:02.840 fact safe, effective, and and something that could be considered 0:03:02.880 --> 0:03:06.000 for an emergency use use authorization here in the United 0:03:06.040 --> 0:03:08.760 States and more likely around the world. So even if 0:03:08.760 --> 0:03:12.520 you have emergency use authorization to be realistic about it. 0:03:12.520 --> 0:03:14.799 It's not going to be ready until next year, is 0:03:14.840 --> 0:03:17.680 that right? I think I think that's a good time 0:03:17.720 --> 0:03:20.680 frame to be planning on. Uh, you know, and and 0:03:20.720 --> 0:03:22.440 again a lot of it's going to depend on what 0:03:22.480 --> 0:03:25.000 we find in phase three and David, as you know, 0:03:25.120 --> 0:03:28.440 that can depend on the incidence of the virus of course, 0:03:28.720 --> 0:03:31.640 because that has an impact on the statistical analysis that 0:03:31.639 --> 0:03:34.200 you'll be using in your study. It's going to depend 0:03:34.240 --> 0:03:36.600 on how well our vaccine is actually doing in the 0:03:36.680 --> 0:03:40.040 study and what kind of efficacy rates hit. But I 0:03:40.040 --> 0:03:44.280 think for planning purposes, if you think about late and 0:03:44.360 --> 0:03:48.120 early one, I think those are the kind of timelines 0:03:48.160 --> 0:03:51.480 that are likely most realistic. Okay, now there, You and 0:03:51.520 --> 0:03:55.120 a number of other CEOs of vaccine manufacturers have issued 0:03:55.160 --> 0:03:58.560 a letter saying basically, you don't want to be politically 0:03:58.600 --> 0:04:01.520 pressured to have a certain date and so forth. And 0:04:01.520 --> 0:04:05.440 can you articulate why you felt the need for that letter. Well, look, 0:04:05.480 --> 0:04:08.160 we think this is an incredibly important time for the 0:04:08.160 --> 0:04:12.920 pharmaceutical industry, let alone each of our companies, and it's 0:04:12.960 --> 0:04:18.080 absolutely critical during a time when unfortunately everything becomes politicized, 0:04:18.560 --> 0:04:22.160 that we rely on data that we rely on science, 0:04:22.600 --> 0:04:26.880 that we rely on well established regulatory guidelines to guide 0:04:26.920 --> 0:04:31.159 all of our decisions regarding the development and the actual 0:04:31.279 --> 0:04:36.680 utilization of these vaccines. And we thought that collectively making 0:04:36.680 --> 0:04:40.960 a very explicit statement about our commitment are pledged to 0:04:41.120 --> 0:04:45.800 following those established guidelines was very important to to maintain 0:04:45.839 --> 0:04:48.440 the trust, to maintain the confidence of people around the 0:04:48.440 --> 0:04:52.680 world regarding the safety and efvocacy and and actual accessibility 0:04:52.720 --> 0:04:56.200 of these vaccines. In a recent survey, I read that 0:04:56.200 --> 0:04:59.800 that was done of Americans that only are yet prepared 0:05:00.080 --> 0:05:02.719 day to take a vaccine if it's available. Is that 0:05:02.800 --> 0:05:04.719 a surprise to you that so many people are not 0:05:04.800 --> 0:05:06.320 yet ready to take it? Is that because of the 0:05:06.640 --> 0:05:09.360 perceived politalization of it? Well, they they have. Unfortunately, No, 0:05:09.480 --> 0:05:12.360 it's not a surprise, and it's it's actually fairly consistent 0:05:12.600 --> 0:05:15.040 in fact, with what you see with the annual flu 0:05:15.160 --> 0:05:18.799 vaccine that can range from anywhere from about and perhaps 0:05:18.839 --> 0:05:20.640 in some of the best states as high as forty 0:05:20.680 --> 0:05:25.160 forty or and and I understand some of the skepticism 0:05:25.160 --> 0:05:28.320 and cynicism. There's a lot of misinformation and there's a 0:05:28.360 --> 0:05:32.039 lot of concern about that people genuinely have. Uh, you know, 0:05:32.080 --> 0:05:34.520 based upon some of the readings that you can find 0:05:34.560 --> 0:05:37.159 out there. But I think that demonstrates is just how 0:05:37.200 --> 0:05:41.080 important it is for us to number one, to work 0:05:41.160 --> 0:05:44.719 closely with health care authorities, whether it's the CDC, BARDA, 0:05:44.839 --> 0:05:48.120 the n i H, the f d A agencies outside 0:05:48.120 --> 0:05:52.640 the United States to follow those appropriate protocols. I think. Secondly, 0:05:52.680 --> 0:05:56.039 it's going to take a lot of education. Uh. And 0:05:56.040 --> 0:05:58.840 and that's by the way, not only the responsibility I 0:05:58.920 --> 0:06:01.480 believe in the pharmaceutic coal industry, but it's going to 0:06:01.560 --> 0:06:05.440 require the government. It's going to require perhaps even businesses 0:06:05.600 --> 0:06:11.120 other stakeholders to make sure that we are sharing the facts. Look, 0:06:11.160 --> 0:06:16.760 I'm cautiously optimistic that as we provide more data, more information, uh, 0:06:16.800 --> 0:06:20.920 that as you know, people see the potential impact, positive 0:06:20.920 --> 0:06:24.160 impact that this could have in terms of returning back 0:06:24.200 --> 0:06:28.000 to a more normal state. Uh in some way that 0:06:28.440 --> 0:06:32.480 you know, people will you know, find the comfort and 0:06:32.520 --> 0:06:36.840 confidence uh to have a vaccine, because ultimately that it's 0:06:36.839 --> 0:06:39.880 going to be very important as we think about, you know, 0:06:39.960 --> 0:06:42.400 returning to a new kind of normal. Now, the federal 0:06:42.400 --> 0:06:46.000 government has poured billions of dollars into getting the vaccine 0:06:46.000 --> 0:06:48.960 developed and provided you and other companies with that money 0:06:49.279 --> 0:06:52.440 to help you facilitate the production of this Uh. Do 0:06:52.480 --> 0:06:55.000 you think that the taxpayers should get a benefit by 0:06:55.040 --> 0:06:59.160 either getting very low cost vaccines or free vaccines? We have, David, Look, 0:06:59.320 --> 0:07:01.240 I think it's in the bloks best interests that we're 0:07:01.240 --> 0:07:04.600 seeing this kind of public private partnership. I mean, there 0:07:05.120 --> 0:07:08.839 it would be very difficult for us to make the 0:07:09.080 --> 0:07:12.760 kind of advancements and accelerate the timelines that we're doing 0:07:12.880 --> 0:07:16.080 right now were it not for the partnership that we're saying, 0:07:16.640 --> 0:07:19.040 not only in terms of funds being provided, but in 0:07:19.120 --> 0:07:21.840 terms of literally the day to day interactions that are 0:07:21.880 --> 0:07:27.000 taking place between regulators and scientists across many of these platforms. 0:07:27.440 --> 0:07:29.840 You know, in our case, from the very beginning, we've 0:07:29.880 --> 0:07:31.560 made a pledge that we would do this on a 0:07:31.640 --> 0:07:35.120 not for profit basis. And uh, yes, we are working 0:07:35.120 --> 0:07:37.880 with the government and we've accept the government funds, but 0:07:37.960 --> 0:07:40.720 we also recognize that as Johnson and Johnson the world 0:07:40.840 --> 0:07:44.760 largest healthcare company, that's important for us at this very 0:07:44.840 --> 0:07:47.600 unique time to do it on a not for profit 0:07:47.640 --> 0:07:50.800 basis so that we can give as many people access 0:07:50.840 --> 0:07:54.360 around the world as possible. Uh. So that's the approach 0:07:54.400 --> 0:07:57.000 that we're taking. Now, there's a fear in some circles 0:07:57.040 --> 0:08:00.800 that wealthy people will get the vaccine quicker than people 0:08:00.840 --> 0:08:04.080 that are not wealthy, And you have with other CEOs 0:08:04.120 --> 0:08:06.280 and other health care officials and the Bill Millan, the 0:08:06.320 --> 0:08:09.840 Gates Foundation signed a letter essentially saying, you're committed to 0:08:09.880 --> 0:08:12.600 making certain that it doesn't go only to wealthy people 0:08:12.840 --> 0:08:14.560 and only the people in the United States. Can you 0:08:14.600 --> 0:08:16.520 explain why you wanted to have that letter and how 0:08:16.560 --> 0:08:18.720 you're going to make sure that happens. Well, look, we're 0:08:19.400 --> 0:08:21.760 the only way we're going to beat this virus is 0:08:21.800 --> 0:08:25.760 if we have global distribution, and no one is safe, frankly, 0:08:26.240 --> 0:08:30.480 if the entire world is not provided access. And so 0:08:30.520 --> 0:08:33.840 we are absolutely committed to doing this in a very ethical, 0:08:33.960 --> 0:08:37.000 in a very just way. Uh and uh. And we 0:08:37.160 --> 0:08:40.800 worked very hard to make agreements clearly with governments like 0:08:40.840 --> 0:08:44.679 the United States and Europe, Japan, the developed countries, but 0:08:44.760 --> 0:08:47.840 we're also working hand in hand with other pharmaceutical companies, 0:08:47.880 --> 0:08:51.320 the Bill and Milinda Gates Foundation to ensure the developing 0:08:51.559 --> 0:08:55.439 countries also have got access. So, as we talked today, 0:08:55.840 --> 0:08:59.160 the big news is that President Trump and the First 0:08:59.200 --> 0:09:03.679 Lady have contracted the coronavirus. Uh. Is that a surprise 0:09:03.720 --> 0:09:06.679 to you that that could possibly happen. Well, David, look, 0:09:06.720 --> 0:09:09.240 I think it demonstrates that we're all vulnerable and we 0:09:09.280 --> 0:09:12.439 still all need to be very vigilant and diligent and 0:09:12.559 --> 0:09:15.080 the actions that we're taking to prevent this virus from 0:09:15.120 --> 0:09:18.120 spreading any further. So, you, as the CEO of the 0:09:18.200 --> 0:09:20.719 largest healthcare company in the United States, I think it's 0:09:20.720 --> 0:09:23.280 the tenth largest company by market CAPP in the entire 0:09:23.360 --> 0:09:27.600 United States, market value of about almost four billion dollars, 0:09:27.760 --> 0:09:30.520 you have to be very careful because I think it 0:09:30.559 --> 0:09:32.719 would look bad, wouldn't it if the CEO of the 0:09:32.800 --> 0:09:35.280 largest health care company got the virus? So what do 0:09:35.320 --> 0:09:39.000 you do to protect yourself? Well, David, look, I think 0:09:39.160 --> 0:09:41.839 all of us have a huge responsibility to take care 0:09:41.840 --> 0:09:45.120 of ourselves, and certainly those of us like myself fortunate 0:09:45.120 --> 0:09:46.680 to be in this kind of a position where we 0:09:46.720 --> 0:09:49.320 have responsibility for others, have got to make sure that 0:09:49.360 --> 0:09:51.600 we put the safety of our employees, of our friends, 0:09:51.600 --> 0:09:54.840 of our families first and everything that we do. And Uh, look, 0:09:54.880 --> 0:09:57.760 that starts with the simple things. And I think one 0:09:57.800 --> 0:09:59.840 of the things that we've learned most through this pan 0:10:00.000 --> 0:10:03.240 emic is by making sure that we're using social distancing, 0:10:03.280 --> 0:10:06.320 that we're wearing masks, that we're washing our hands, that 0:10:06.360 --> 0:10:08.719 we're doing everything we can to prevent the spread of 0:10:08.760 --> 0:10:10.920 the virus. Are the most important steps that we can 0:10:10.960 --> 0:10:14.719 take to actually bringing an end of this pandemic and 0:10:15.000 --> 0:10:17.679 in dealing with it for the long term. Now, vaccines 0:10:17.679 --> 0:10:20.840 of what everybody has been focused on, but there's also therapeutics. 0:10:21.280 --> 0:10:24.480 So for people might have already contracted the disease or 0:10:24.520 --> 0:10:27.520 already have the virus, is there any progress being made 0:10:27.559 --> 0:10:32.079 on therapeutics that might help people that already have the disease. Well, David, 0:10:32.120 --> 0:10:34.680 that's that's a great point. There is no one silver 0:10:34.720 --> 0:10:37.480 bullet here, And I think what is really important for 0:10:37.520 --> 0:10:40.240 everyone to understand it's going to take a holistic approach. 0:10:40.920 --> 0:10:43.640 Is likely we're gonna be dealing with this not only 0:10:43.720 --> 0:10:46.640 is a pandemic, but it's going to be endemic for 0:10:47.040 --> 0:10:51.400 several years going forward. So in all likelihood it's going 0:10:51.440 --> 0:10:54.160 to take a combination of therapeutics for patients who are 0:10:54.200 --> 0:10:57.280 actually sick, vaccines to present it, prevent it from happening 0:10:57.320 --> 0:10:59.680 in the first place, and you know, last, but not 0:10:59.760 --> 0:11:03.320 least hospital protocols that I think you've done a great job. 0:11:03.480 --> 0:11:06.439 Still much more work to do in terms of reducing 0:11:06.559 --> 0:11:09.840 actual mortality and morbidity. So things that have been talked 0:11:09.840 --> 0:11:16.719 about our mdzevie hydrodroxy chloroquine and also um convalescent plasma. 0:11:16.800 --> 0:11:19.520 But generally today you wouldn't say that those things are 0:11:19.600 --> 0:11:21.800 therapeutics that are going to solve the problem. Is that right? 0:11:22.080 --> 0:11:24.920 Not each and of themselves. I think there will be 0:11:25.040 --> 0:11:27.960 various opportunities that use and look, we're going to learn, 0:11:28.040 --> 0:11:31.280 for example, with commualiss and plasma, when and where are 0:11:31.320 --> 0:11:35.240 they most effective in what patient population is? In an 0:11:35.240 --> 0:11:38.719 older population? Could they be used, for example, in an 0:11:38.720 --> 0:11:42.160 elder care facility where you're seeing an outbreak in a 0:11:42.360 --> 0:11:46.720 more aggressive way? Uh? Should antivirals be used earlier in 0:11:46.720 --> 0:11:49.240 the disease? And I think we're again we're developing a 0:11:49.280 --> 0:11:51.600 lot of information as we speak, and we're gonna learn 0:11:51.640 --> 0:11:54.199 a lot more in the coming weeks and months. Hindsight 0:11:54.360 --> 0:11:58.320 is always, it is said, but looking back, what would 0:11:58.320 --> 0:12:00.800 you say that the CDC or the f d A, 0:12:01.000 --> 0:12:04.240 or the White House or HHS should have done differently? 0:12:04.679 --> 0:12:07.040 Is there anything that you would recommend that somebody in 0:12:07.040 --> 0:12:09.360 the future that they do differently if they were overseeing 0:12:09.440 --> 0:12:12.439 this kind of pandemic response. Well, you know, you're right, 0:12:12.520 --> 0:12:16.360 when we look backwards, things always seem clear, and uh, 0:12:16.400 --> 0:12:18.000 you know, I think there's a few lessons. And I 0:12:18.040 --> 0:12:21.240 would also say that almost all of us have underestimated 0:12:21.679 --> 0:12:24.280 the dramatic impact of this outbreak. I mean, if you 0:12:24.320 --> 0:12:26.760 would have asked most people eight or nine months ago 0:12:26.840 --> 0:12:29.480 if you would ever see the kind of impact that 0:12:29.520 --> 0:12:32.400 we're you know, seeing around the world right now, few 0:12:32.440 --> 0:12:35.160 would have gotten it right. But I think there are 0:12:35.240 --> 0:12:37.959 lessons to be learned. First and foremost, I think is 0:12:38.000 --> 0:12:40.920 the importance David, of global public health. And I think 0:12:40.960 --> 0:12:44.480 going forward, we're going to understand much better that you know, 0:12:44.520 --> 0:12:48.560 if we don't have global public health security, we don't 0:12:48.600 --> 0:12:52.520 have national security, we don't have economic security, and we 0:12:52.559 --> 0:12:55.000 will not have security of society. So I think the 0:12:55.040 --> 0:12:59.720 importance of being prepared, making sure that you know, we've 0:12:59.760 --> 0:13:02.960 got the kind of protocols in place, that we have 0:13:03.040 --> 0:13:08.840 certain products preposition and frankly, also move from a maniacal 0:13:08.920 --> 0:13:12.800 focus on efficiency and effectiveness in certain cases to one 0:13:12.840 --> 0:13:17.120 more of resiliency and sustainability. Particularly for these kind of 0:13:17.160 --> 0:13:21.880 situations where even you surprise how dependent maybe Johnson Johnson 0:13:21.920 --> 0:13:25.280 and the healthcare industry was on manufacturing things in China 0:13:25.559 --> 0:13:28.280 and offshore, so that for ppe and other things, we 0:13:28.320 --> 0:13:30.880 really had to almost beg the Chinese to get us 0:13:30.920 --> 0:13:33.280 some material. Will that change in the future and we're 0:13:33.280 --> 0:13:35.360 you're surprised at the extent that we were so dependent 0:13:35.440 --> 0:13:38.360 on offshore production? Yes, and I look, I think there's 0:13:38.400 --> 0:13:41.600 an important lesson for all industries, not only the healthcare industry, 0:13:41.640 --> 0:13:44.800 but you know, every supply chain. And the good news is, 0:13:44.840 --> 0:13:48.679 over the last several decades, the globally integrated supply chain 0:13:48.880 --> 0:13:52.119 has reaped tremendous rewards and again in terms of efficiency 0:13:52.120 --> 0:13:55.920 and effectiveness for so many different companies. However, I think 0:13:55.920 --> 0:13:58.840 it's important for us to realize that we've got to 0:13:58.880 --> 0:14:01.200 make sure that we've got the kind of redundancy and 0:14:01.240 --> 0:14:05.360 resiliency when these types of situations arise. And so we're 0:14:05.679 --> 0:14:09.440 looking hard across our supply chain as we speak, to say, look, 0:14:09.520 --> 0:14:12.559 what are the things where we Yes, we can still 0:14:12.600 --> 0:14:16.439 take advantage of so many of the efficiencies from what 0:14:16.480 --> 0:14:19.160 we were doing before, but what other things do we 0:14:19.200 --> 0:14:22.880 need to think about reshoring. UH. What other capabilities do 0:14:22.920 --> 0:14:26.160 we need to think to have more local uh, to 0:14:26.280 --> 0:14:29.160 ensure that, you know, in future pandemics were all better 0:14:29.200 --> 0:14:31.960 positioned and better prepared. Let's talk about how you went 0:14:32.040 --> 0:14:34.960 from a graduate of the West Point to becoming the 0:14:35.000 --> 0:14:38.960 CEO of this company. So where did you grow up? Well, Uh, Dad, 0:14:39.040 --> 0:14:43.000 I couldn't have imagined forty sixty years ago that I'd 0:14:43.000 --> 0:14:45.640 ever be in this role of position. But I was 0:14:45.640 --> 0:14:49.240 actually born in Kansas City, Kansas. My grandparents for the 0:14:49.280 --> 0:14:53.440 most part, we're immigrants, uh, and opened up small stores, 0:14:53.520 --> 0:14:58.280 worked in meat packing plants UH in Kansas City and 0:14:58.400 --> 0:15:00.520 UH I was there through my early years. And then 0:15:00.560 --> 0:15:02.640 my father was moved with his job when I was 0:15:02.680 --> 0:15:05.680 about twelve years old, UH, to a little town the 0:15:05.680 --> 0:15:08.240 lower peninsula of Michigan. What propelled you to say I 0:15:08.240 --> 0:15:09.920 want to go to West Point? Well, look, I was. 0:15:10.000 --> 0:15:12.680 I was very fortunate. And you know, both my mother 0:15:12.720 --> 0:15:15.640 and father worked. My My father, UH started as a 0:15:15.680 --> 0:15:18.400 salesman in a in a foods company group of baby food, 0:15:18.480 --> 0:15:21.200 and kind of worked his way a bladder. But he 0:15:21.240 --> 0:15:23.600 was also a Korean War veteran and UH and he 0:15:23.680 --> 0:15:27.480 stayed in the Army reserves. Uh. And my mother taught 0:15:28.080 --> 0:15:31.040 uh special education students. And so I thought it was 0:15:31.120 --> 0:15:32.960 natural when you were growing up that your father not 0:15:33.000 --> 0:15:34.760 only went to work and your mother went to work, 0:15:34.800 --> 0:15:36.920 but also that you know, one weekend a month, that 0:15:36.960 --> 0:15:39.440 he would put a uniform on to go service country 0:15:40.000 --> 0:15:42.720 and um. And I was really inspired by that. And 0:15:43.000 --> 0:15:46.440 I was one of six children, uh and uh. And 0:15:46.440 --> 0:15:49.480 I also knew that going to a place like West 0:15:49.480 --> 0:15:52.840 Point not only would afford me an opportunity for a 0:15:52.840 --> 0:15:56.560 great education and a career, but it was also certainly 0:15:56.560 --> 0:15:58.680 an economical way to do it, and you know, one 0:15:58.720 --> 0:16:01.280 where I could pay my own ways. True. And and 0:16:01.320 --> 0:16:03.560 so I put all that together and I found that 0:16:03.640 --> 0:16:06.840 to be a really you know, attractive path and uh 0:16:06.840 --> 0:16:09.280 and I was fortunately that's what I was able to follow. 0:16:09.440 --> 0:16:11.320 And when you graduated, did you say, now I want 0:16:11.320 --> 0:16:13.360 to be a healthcare executive or how long did you 0:16:13.400 --> 0:16:16.720 stay in the military? No? No, I look, I graduated, 0:16:16.760 --> 0:16:19.840 and like all of my classmates, I I went into 0:16:19.880 --> 0:16:23.080 the army as a lieutenant. I had a I had 0:16:23.120 --> 0:16:26.640 an assignment in Europe for my very first role, and 0:16:26.640 --> 0:16:29.080 then I was stationed back in the United States, actually 0:16:29.080 --> 0:16:31.640 out of for Doord, California in the seventh Infortory Division, 0:16:32.280 --> 0:16:35.640 and I spent six years where I ended my service 0:16:35.680 --> 0:16:38.360 as a as a captain. I was a battery commander 0:16:38.360 --> 0:16:41.200 and a rapid deployment force unit. And that's when I 0:16:41.320 --> 0:16:44.200 made my decision to, uh, you know, exit the Army 0:16:44.240 --> 0:16:46.640 and join Johnson and Johnson. Now you also got an 0:16:46.720 --> 0:16:49.240 MBA from Wharton. Yes, when do you have time to 0:16:49.280 --> 0:16:52.720 do that? Well? You know, I I started when I 0:16:52.800 --> 0:16:55.480 left the Army. I started as a sales representative at 0:16:55.560 --> 0:16:58.160 Johnson and Johnson. It was part of a leadership development 0:16:58.240 --> 0:17:01.720 program and I but I felt getting the skills understanding 0:17:01.720 --> 0:17:05.720 the customers, really learning you know what doctors and surgeons 0:17:05.720 --> 0:17:08.720 and nurses and people who were using our products on 0:17:08.760 --> 0:17:11.000 a day to day basis, that was an important experience 0:17:11.000 --> 0:17:15.000 to get uh and uh. And then I went into 0:17:15.000 --> 0:17:17.679 sales management, later into marketing. But I also realized that 0:17:17.720 --> 0:17:20.879 look I had I had studied engineering in college uh 0:17:20.920 --> 0:17:23.880 and UM. And I realized that if I was going 0:17:23.920 --> 0:17:25.960 to have the skills and business that I felt were 0:17:25.960 --> 0:17:30.119 really necessary, UH, that you know, going back and getting 0:17:30.160 --> 0:17:33.240 exposed and much more depth to accounting, to finance, to 0:17:33.359 --> 0:17:36.440 strategy and other things I was going to be important 0:17:36.560 --> 0:17:39.160 and I was. Uh. I was very fortunate that they 0:17:39.160 --> 0:17:43.000 supported my attendance at the Executive NBA program at Wharton 0:17:43.680 --> 0:17:46.000 where I went and completed that. Uh. You know, at 0:17:46.000 --> 0:17:48.400 an early point in my career. So you started out 0:17:48.520 --> 0:17:52.400 marketing with a subsidiary of Johnson and Johnson UM at 0:17:52.440 --> 0:17:54.320 the time, and you did that, Did you say, well, 0:17:54.600 --> 0:17:56.840 somebody who starts out as a marketing person for this 0:17:56.920 --> 0:18:00.000 subsidiary surely should rise up to be the CEO someday 0:18:00.040 --> 0:18:02.399 a UM. Did you ever imagine at that point that 0:18:02.480 --> 0:18:04.840 you could rise up or you always had that as 0:18:04.840 --> 0:18:09.280 your goal? No, you know, I did realize, however, that 0:18:09.680 --> 0:18:13.199 getting exposure and experience with as many different aspects of 0:18:13.200 --> 0:18:16.160 our business early on in my career is important. And 0:18:16.320 --> 0:18:19.159 marketing was one place where you could interface with research 0:18:19.200 --> 0:18:22.760 and development to really understand our products, where you would interview, 0:18:22.840 --> 0:18:26.159 where you would engage with your finance counterparts, your supply 0:18:26.359 --> 0:18:29.119 chain people, and so it was really the kind of 0:18:29.160 --> 0:18:33.360 position that exposed you to almost all aspects of the organization. 0:18:33.920 --> 0:18:36.919 And look, at that time, I aspired to perhaps be 0:18:37.040 --> 0:18:41.040 able to run one of our our divisions, and uh 0:18:41.400 --> 0:18:44.080 and and and from there things took on a life 0:18:44.080 --> 0:18:47.240 of their own. So you've now been the CEO since 0:18:47.560 --> 0:18:51.040 two thousand twelve, so about eight years or so. And 0:18:51.200 --> 0:18:54.320 for most CEOs of fortune companies or less, they were 0:18:54.320 --> 0:18:58.200 the founder of them. Generally five six years is fairly average. 0:18:58.359 --> 0:19:01.160 So you're eight, um, but you're very young, and you're 0:19:01.160 --> 0:19:03.280 obviously in good shape. So as your plan to do 0:19:03.359 --> 0:19:05.600 this for a long time in the future, Well, look, David, 0:19:05.640 --> 0:19:08.520 I'm I'm very fortunate to be the seven CEO Johnson 0:19:08.560 --> 0:19:11.720 and Johnson. You're right, the I think one of the uh, 0:19:11.760 --> 0:19:16.119 the great characteristics of the company is the long tenure 0:19:16.160 --> 0:19:19.080 that my predecessors have have in the in the continuity, 0:19:19.160 --> 0:19:23.480 the consistency, and the kind of long range thinking that 0:19:23.600 --> 0:19:27.240 it imbued into the organization. And uh and I'm proud 0:19:27.280 --> 0:19:29.760 to you know, have been part of that. And uh 0:19:29.800 --> 0:19:32.800 and and look, I'm I'm as excited today about what 0:19:32.840 --> 0:19:35.200 I'm seeing in terms of science and technology and the 0:19:35.240 --> 0:19:37.200 potential of the patients. I mean, look what we're doing 0:19:37.200 --> 0:19:40.040 with the vaccine. We couldn't have even imagined that, you know, 0:19:40.080 --> 0:19:44.399 with about ten months ago. And uh, so that it's 0:19:45.080 --> 0:19:49.960 you know, it's a constant stream of new opportunities challenges 0:19:50.000 --> 0:19:53.320 that you're facing along the way. But look, you know, 0:19:53.400 --> 0:19:57.520 like everybody, UM, I would always consider ways of how 0:19:57.520 --> 0:20:00.399 could you continue to serve other stakeholders? How can you 0:20:00.400 --> 0:20:03.880 continue to serve others? But you know what, I think 0:20:03.880 --> 0:20:06.440 I've got the best job in the world most days. Now. 0:20:06.480 --> 0:20:09.720 You are a fitness expert or a person who cares 0:20:09.760 --> 0:20:12.560 a lot about fitness. You're always running or exercising, and 0:20:12.920 --> 0:20:14.760 so I assumed during this period of time you're doing 0:20:14.760 --> 0:20:16.560 it even more just to stay in shape. Is that right? 0:20:16.600 --> 0:20:18.960 Do you run a lot or do you exercise a 0:20:19.000 --> 0:20:21.639 lot every day? Yes? I do, David. And look, I 0:20:21.760 --> 0:20:24.399 learned a long time ago, even during my time in 0:20:24.400 --> 0:20:26.639 the military, that one of the most important things you 0:20:26.680 --> 0:20:30.800 can do, uh, to ensure that if my chance, you know, 0:20:30.880 --> 0:20:33.080 you were you were wounded, was to be healthy in 0:20:33.119 --> 0:20:35.919 the first place. And it's interesting because I think one 0:20:35.960 --> 0:20:38.200 of the things that we're learning about this disease, of course, 0:20:38.840 --> 0:20:41.719 is that the healthier you are, if you in faction 0:20:41.840 --> 0:20:45.240 contact the disease, likely the better prepared you're going to 0:20:45.280 --> 0:20:47.199 be to be able to survive and get through it 0:20:47.200 --> 0:20:49.920 in a much better manner. And uh, you know, look 0:20:50.000 --> 0:20:52.840 like many others, I've been doing my best to to 0:20:52.920 --> 0:20:54.720 deal with the situation, not only working out of the 0:20:54.760 --> 0:20:57.280 house but taking care of myself. But yes, I I 0:20:57.320 --> 0:21:00.960 always put a priority on, you know, trying to take 0:21:01.000 --> 0:21:03.440 care of ourselves, stay healthy, get the kind of rest 0:21:03.520 --> 0:21:07.159 that you need, eat the right way, and um, I 0:21:07.160 --> 0:21:10.040 think doing all these things not only happen or help 0:21:10.320 --> 0:21:12.480 in your daily life, but certainly are going to affect 0:21:12.520 --> 0:21:15.359 in a situation like COVID nineteen as well. So when 0:21:15.359 --> 0:21:17.920