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Speaker 1: My name is Lily Maddon and I'm a proud Arunda

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Speaker 1: Bunjelung Calcuttin woman from Gadighl country. The Daily oz acknowledges

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Speaker 1: that this podcast is recorded on the lands of the

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Speaker 1: Gadighl people and pays respect to all Aboriginal and Torres

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Speaker 1: Strait Island and nations. We pay our respects to the

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Speaker 1: first peoples of these countries, both past and present.

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Speaker 2: Good morning and welcome to the Daily os It's Wednesday,

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Speaker 2: the thirteenth of September.

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Speaker 3: I'm Zara, I'm Sam.

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Speaker 2: You may have heard of something called ozempic, a so

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Speaker 2: called miracle weight loss drug that was actually made to

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Speaker 2: treat diabetes. It went viral all over TikTok, leading to

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Speaker 2: shortages around the world. A drug shortage is impacting people

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Speaker 2: living with diabetes, and some pharmacies say they just can't

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Speaker 2: get it in stuff.

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Speaker 1: Both of these women say they don't have diabetes, but

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Speaker 1: were advised by their doctors to take Ozempek to help

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Speaker 1: with weight loss.

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Speaker 2: Now, the company who makes the drug has officially become

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Speaker 2: the biggest company in the European Union. So how is

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Speaker 2: Novo Nordists rapid growth impacting the economy and what does

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Speaker 2: it mean for the future of weight loss. We'll let

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Speaker 2: you know in today's deep dive. But first sam some

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Speaker 2: news in the gambling space.

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Speaker 3: Draft laws that would ban credit cards being used for

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Speaker 3: online gambling will be tabled in federal parliament today. The

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Speaker 3: legislation follows from a recommendation by a parliamentary committee back

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Speaker 3: in twenty twenty one, and will introduce fines of about

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Speaker 3: two hundred and thirty five thousand dollars for breaches of

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Speaker 3: the rules. Credit cards have been banned for in person gambling,

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Speaker 3: such as pokezer at racetracks for about twenty years.

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Speaker 4: The Victorian government is trialing university scholarships that would cover

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Speaker 4: tuition costs for secondary teaching students. Eligible students will need

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Speaker 4: to enroll in UNI in the next two years and

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Speaker 4: work in Victorian schools for at least two years after graduating.

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Speaker 4: It's unclear if the subsidized study will be extended in

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Speaker 4: future years. The measure has been introduced to grow so

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Speaker 4: Victoria's teaching workforce.

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Speaker 3: Kim Jong mun has arrived in Russia for talks with

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Speaker 3: Vladimir Putin. Kim will meet with Putin near the North Korea,

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Speaker 3: Russia border. The pair are expected to discuss global issues,

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Speaker 3: which could include Russia's war against Ukraine. It is Kim's

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Speaker 3: first international trip in four years.

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Speaker 2: And the good news and NASA astronaut has broken the

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Speaker 2: record for the longest time spent in space. Frank Rubio

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Speaker 2: passed the previous record of three hundred and fifty five

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Speaker 2: consecutive days aboard the International Space Station this week. He'll

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Speaker 2: return to Earth later this month, following three hundred and

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Speaker 2: seventy one days in space.

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Speaker 4: SAM.

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Speaker 2: In the world of pharmaceuticals, it's often a competition to

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Speaker 2: see who will make the world's next big breakthrough, like.

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Speaker 3: The COVID vaccine was the big innovation of the twenty

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Speaker 3: twenty twenty twenty one season exactly.

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Speaker 2: I mean, it was a genuine race to get this

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Speaker 2: thing that was going to change the world world. But

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Speaker 2: these pharmaceutical arms races aren't always about responding to something

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Speaker 2: like a pandemic. In fact, one of the drugs that's

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Speaker 2: got big farmer paying attention at the moment is something

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Speaker 2: called ozepic. It's a drug that is designed to treat

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Speaker 2: type two diabetes, and it's been so popular that the

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Speaker 2: company who makes it, Novo Nordisk has actually become the

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Speaker 2: largest company in the European Union.

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Speaker 3: So I have heard of zempic, but not as a

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Speaker 3: diabetes drug. This is the drug that we've posted about

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Speaker 3: before at TDA, which got really popular as a weight

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Speaker 3: loss drug.

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Speaker 2: Yeah, and I think just starting with an explanation of

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Speaker 2: what ozenpic, I mean, what it was meant to do

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Speaker 2: and what it's being used for now is pretty necessary.

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Speaker 2: So it's actually been around for several years. It was

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Speaker 2: created to help glycemic control, so like glucose levels in

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Speaker 2: people with type two diabetes. But then people started getting

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Speaker 2: their hands on it for a different reason, and that

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Speaker 2: was for weight loss, and this started to really take off.

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Speaker 2: And then at the start of this year we started

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Speaker 2: hearing about the fact that people with diabetes were actually

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Speaker 2: struggling to access ozempic because the drug had gone so

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Speaker 2: viral on TikTok.

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Speaker 1: If you were a human being that's on TikTok, I'm

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Speaker 1: sure that you've heard of ozempic.

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Speaker 2: This drug could mean the end of weight loss surgery.

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Speaker 1: I lost fifty pounds while I was on ozampic, you.

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Speaker 4: Know, ozempek ozempe.

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Speaker 2: I just feel better since it was discovered that ozempic

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Speaker 2: can actually suppress your appetite and then in some cases

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Speaker 2: lead to weight loss. Demand for the drug has absolutely skyrocketed,

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Speaker 2: so much so that today there still remains an international

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Speaker 2: shortage of ozenpic.

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Speaker 3: And this has been a massive story not only in

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Speaker 3: the news, but also in pop culture. And part of

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Speaker 3: the reason why is because of its presence on TikTok

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Speaker 3: and that's.

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Speaker 2: But also celebrity Like I feel like, yeah, you know,

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Speaker 2: anytime you watch a video of a celebrity or you

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Speaker 2: read an article about a celebrity, everyone wants to know

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Speaker 2: if they're taking ozempic because if someone has radically lost weight,

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Speaker 2: that is now the immediate place that your brain goes to.

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Speaker 3: But I guess the reason why we're talking about it

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Speaker 3: today is that it's clearly spilled beyond celebrity circles. Nova Nordisk,

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Speaker 3: which is the maker of the drug, has now become

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Speaker 3: the biggest company in the EU. What does that actually mean?

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Speaker 2: I mean this blew my mind, Like think about the

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Speaker 2: size and the time that these companies have existed for

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Speaker 2: and the fact that this is now the biggest is

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Speaker 2: insane to me. But when we're talking about it being

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Speaker 2: the biggest company in the EU. Basically, the metric we're

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Speaker 2: using here is market capital, so it's the share value

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Speaker 2: of the company itself.

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Speaker 3: So if you added up every single share in the

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Speaker 3: company that everyone owns, the total amount.

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Speaker 2: It has a market capital price of around seven hundred

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Speaker 2: billion with a b Australian dollars. And I mean to

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Speaker 2: put this into perspective, that's significantly more than the GDP

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Speaker 2: of the country that the company actually belongs to Denmark.

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Speaker 2: To reach this position, the pharmaceutical company has overtaken LVMA Each,

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Speaker 2: which is the luxury brand company which owns Dior, Louis

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Speaker 2: Vton and Sephora. So some pretty major companies are now

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Speaker 2: being dwarfed by this drug company, and it's fair to

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Speaker 2: say that it's having a significant impact on Denmark's economy,

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Speaker 2: to the point that the director of the country's largest

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Speaker 2: bank actually said that Novo Nordisk's rapid growth is even

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Speaker 2: impacting the nation's interest rates.

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Speaker 3: I remember we talked about the way that interest rates

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Speaker 3: can move up and down because of events in the

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Speaker 3: context of Taylor Swift a couple of months ago. So

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Speaker 3: this is quite a different example, but similar principles. I

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Speaker 3: guess the thing I'm struggling with is that we've been

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Speaker 3: talking about a zenpic for a while. Now, what is

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Speaker 3: it about the last few weeks that's meant that the

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Speaker 3: company's share price has really taken off.

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Speaker 2: Well, that can be explained by a recent move by

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Speaker 2: the company to launch a new product, and their product

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Speaker 2: is specifically promoted as being for weight loss. So, as

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Speaker 2: I said earlier, while ozempic was designed as a diabetes medication,

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Speaker 2: it's popular already as a weight loss drug. Was seeing

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Speaker 2: huge demand and shortages of the drug, and so in

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Speaker 2: response to this, drug regulators like Australia's TGA, for example,

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Speaker 2: have been asking doctors to only prescribe the medication for

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Speaker 2: type two diabetes, but to address the demand. So that's

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Speaker 2: the supply issue, but to address the demand for a

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Speaker 2: weight loss specific product. Novo Nortics has actually come out

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Speaker 2: with a new drug called wegov. It has the same

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Speaker 2: active ingredient as ozempic, but it's specifically branded as for

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Speaker 2: chronic weight management, so it's not for something else but

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Speaker 2: also helps you lose weight. This is being marketed by

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Speaker 2: the drug company as for weight loss.

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Speaker 3: But clearly with an in built audience ready to buy.

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Speaker 2: It exactly, and they haven't launched the product in Australia yet,

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Speaker 2: but it's already available in the US, Norway, Germany and Denmark,

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Speaker 2: and Wegov was launched in the UK last week and

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Speaker 2: it's the latest move into a new market that's been

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Speaker 2: credited with the jump that we were just speaking about

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Speaker 2: in the company's share price.

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Speaker 3: So I know, the story about the rise in popularity

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Speaker 3: of weight loss drugs like wegov or a zenpic has

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Speaker 3: been quite controversial. Tell me about the issues here.

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Speaker 2: I mean with any story where health, pharmaceuticals and discussion

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Speaker 2: of weight all collide, there are of course going to

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Speaker 2: be many points of contention. I think it's interesting to

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Speaker 2: examine it from a couple of different angles. On the

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Speaker 2: business side, it's interesting to note that the company is

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Speaker 2: continuing to launch Regovi in new countries despite the fact

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Speaker 2: that their supply issues continue. So, I mean, we've spoken

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Speaker 2: about in this podcast the fact that there's so much

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Speaker 2: demand and supply cannot keep up, and yet they're launching

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Speaker 2: the product in new markets without actually having the supply.

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Speaker 4: So that's one issue.

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Speaker 2: Another criticism of the way this is all unfolded is

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Speaker 2: about the messaging surrounding these drugs and what the prevalence

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Speaker 2: of people promoting them on social media, like TikTok actually

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Speaker 2: says to young people about their bodies. But also in

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Speaker 2: the same vein, I think it's interesting to note that

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Speaker 2: there is a shift in the way that these drugs

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Speaker 2: are being being spoken about on social media. I think

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Speaker 2: that there was definitely kind of the ozepic heyday. There

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Speaker 2: was the time where everyone was talking about it as

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Speaker 2: the greatest thing on earth.

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Speaker 4: But now if you scroll.

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Speaker 2: Through TikTok, there are people talking about the side effects

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Speaker 2: of it as well.

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Speaker 1: So legitimately horrific side effects to these skinny shows. Walking

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Speaker 1: out of complete conversations into the bathroom where I would hyperventilate,

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Speaker 1: shake on the ground, throw up, I felt absolutely terrible.

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Speaker 1: I was dizzy all the time. I was exhausted all

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Speaker 1: the time.

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Speaker 2: Look, I think that there are lots of conversations to

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Speaker 2: have around Ozepic, to have around weight loss drugs in general.

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Speaker 2: But also I think it's interesting to think about the

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Speaker 2: market share that this company has, and clearly they've seen

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Speaker 2: success and so it'll be really interesting to see if

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Speaker 2: they can hold on to that in the future. If

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Speaker 2: you have any insights into this topic and want to

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Speaker 2: let us know what you think. You can go into

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Speaker 2: Spotify and leave us a comment and we'll get back

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Speaker 2: to that as soon as we can.

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Speaker 3: Thanks for listening to this podcast. We'll be back again

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Speaker 3: tomorrow morning. Speaking of