David Rosenthal: prediction

Transcript context

…When your currency is expensive, sell it. Right? There are a number of analogies that we could make from the past few years that I'll refrain from here. As you say, this is a nail in the coffin for Novo, it's not good for the underlying business. Nordisk, meanwhile, remember, they're in the midst of this aggressive expansion plan and scaling based on MC Insulin. They're like, I don't know that human Insulin in and of itself is all that much more effective. We're going to take a wait and see approach. We are going to recombinant DNA and genetic engineering capabilities, because it's clear the whole industry is moving this way for production reasons, if nothing else. And Novo is doing this too in the background. But Nordisk is like, we're not going to get caught up in the specifically human Insulin hype, and this really works out for them. In 1984, Nordisk passes the German company, Hoescht, to become the number three global player in Insulin. Hoescht, I think that's how you say it, today is part of Sanofi, the large international pharma conglomerate. They're the only other player left besides Novo and Eli Lilly. Yeah, Sanofi today, the three of those companies are essentially the entire Insulin market.…

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