David Rosenthal: commitment

Transcript context

…Right, I wouldn't want food either. The thing that's really fascinating to me about Semaglutide as a weight loss drug is that you can't just sit around eating pizza and ice cream and lose weight. The laws of thermodynamics in the universe still apply. Your body will always retain the difference between the digestible calories that you eat and the calories that you burn. The reports from those who are taking it. It's really more like you just don't want to eat large quantities. You don't want to eat really calorie dense food. It just changes your habits without you trying, or at least you having to try as hard as you did in other attempts to lose weight. It solves the debate that had been going on for decades of, is it a behavioral problem, or is it a medical problem? If you're taking medicine that changes the way that your body chemistry works, but also literally causes you to naturally change your behavior, it really actually addresses both concerns. Right. In 2018, Ozempic finally hits the market for Diabetes. In 2021, Wegovy gets approved for weight loss. Ozempic does over a billion dollars in revenue in 2019, it's first year on the market. It's clear it's going to be a huge hit, and it's even more than that. This is even more than Victoza back in the day. It does a billion dollars in revenue, but it's massively supply constrained. It could have done a lot more. These drugs still, Ozempic and Wegovy, could do a lot more revenue than they are doing right now. By the way, on earnings calls, the company says, yeah, that's going to be true for a long time. The demand for this drug will continue to massively outpace our supply. We will be here on earnings calls over and over and over again, telling you that no matter how many factories we build, we are supply constrained still. Yes. At this point, it's funny. I think for most people that are discovering Novo Nordisk now, us included, I didn't know anything about this company until a few years ago. Thirty-two years after Lotte and her team started this research.…

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