Ben Gilbert: belief

Transcript context

…There is room for everybody here. The barriers to entry from everything we talked about to competing in this area are very, very high. There will be a number of competitors, including Eli Lilly, but there will be plenty of demand and profits for everyone. That's the bull case. The bear case is, for any variety of reasons, be it health risk, lack of efficacy, or whatever. Long term, this just doesn't play out, or it doesn't play out on the same multi decade long timeline that Insulin did. Yup. I think that is exactly the right way to put it. For some numbers, which I think are interesting and just to illustrate, if Semaglutide becomes truly a mega blockbuster, an example of this is Humira by AbbVie, that generated $200 billion in lifetime sales since Humira was approved for 11 different indications across this whole spectrum of inflammatory and autoimmune disorders. It turns out, you actually don't need a deep pipeline if you have a drug that you can be profitable on, where there's not a lot of competitors for it. Your patent actually gives you a good amount of room. You build a brand around it. You get approved for a ton of indications that all have large populations. There is such a blockbuster that for a decade, it doesn't matter how deep your pipeline is or how diverse it is, you just win. There's a chance that with Semaglutide and Tirzepatide, both Lilly and Novo Nordisk have that for the next decade. Yup, and decade plus with further innovations and iterations that are going to come.…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.