#novonordisk Q2 2024 Earnings Recap #Ozempic #wegovy

to this sorry for the angle of the camera I'm working offsite today uh but welcome to this 2024 quarter 2 NOA Nordisk earnings call recap welcome uh good to have you all here with me today drop an in in the chat if you're new to the channel welcome we cover all things obesity and diabetes medication here including earnings calls uh for the big ones right uh in the space that's going to be Eli in noo nordis currently uh we're going to go over uh the most uninspiring earnings call that I've sat in on uh to date uh but there is news in here baked in here and lots of insights that we can glean again this is more from the user perspective hi Alice uh this is more from the patient perspective like how this impacts patients more so than it does investors but certainly if you're an investor uh there's tons to glean uh from this channel as we cover uh just what's going on in the espe in ceton mimic space uh but but obviously uh an emphasis on Lily and Novo here so welcome we're going to go over the 2024 Quarter Two earnings call from Novo Nordisk we cover uh the financials some of the financials some of the clinical trial updates and key dates uh that they report there in this the supply as well because those are the ones that affect users the most you're welcome Kimberly welcome Lil Chi thank you for being here make sure you hit that Thumbs Up Button it'll help everybody see this share it with 10 of your best friends Rudy how are you today so let's get into it the financials first of all was a rare Miss for Novo Nordisk on the financial end wovi and OIC both missed sales expectations and so in response to that NOA nordis has lowered profit expectations uh based upon lower realized prices for their glp1 franchise right so they're not making as much money on the prescriptions largely driven by competition obviously when Z bound hit the market in mararo they're both at a cheaper price point uh you're welcome Michael welcome Ray and Rudy thank you for being here with me this morning noo did slightly raise sales expectations um due to an increase in Supply and they're not expecting that their sales numbers are going to be impeded At All by their competition rather you know a driving down of the price of the market which is good for us as consumers hi Gina how are you today uh Novo announced that they're serving over 4 2 million patients with diabetes and obesity and their goal is to hit a third of the diabetes Market the total diabetes Market which is just incredible uh they are definitely focusing on scaling and uh making money and volume uh by by basically touching a a good chunk of the market which they already are they experienced a 37% growth in obesity Market in Us in this past year uh a 34% market share they own a 34% market share in diabetes and a 56% share in glp1 so they continued to dominate largely led by oepic their Flagship again that was the first real GameChanger glp1 to hit the market the first uh weekly injectable that had a great deal of efficacy of course trulicity from Eli Lily hit the market first as the first weekly glp one uh but nowhere near the efficacy as semaglutide 10 million people living in the US with obesity have coverage for wovi now via 20 states that offer it through their Medicaid Program and so very interesting number there Medicaid expanding access to gp1s uh for weight loss now the next two sort of categories that we're going to fly over are the clinical trial updates and then some uh some Supply uh information that they touched on so interestingly this is one of the bigger pieces of news to come out of this uh specific earnings call where you saw the Mis expectation and so they sort of trimmed back on some of their pipeline medications one such uh sort of uh consequence was that they abandoned their dual Agonist glp1 Gip that's going to be a straight Contender with Eli Lily's tripati they abandon a once monthly formulation that they were giving patients uh they will continue to advance from Phase 2 their uh weekly glp1 Gip but very interesting to see that they've abandoned the once monthly dose I don't know if there's something to read into there for maybe the future of a tepati that could be done that way but I'm guessing that efficacy was not increased and there may have been some increase signals in in uh side effects potentially but that's speculation on my part but they completely abandoned the once monthly version of their glp1 Gip coagonist Amron which is the next sort of we've got kagara on the horizon in 202 but Amicon is sort of like the 2.0 uh amalin and incron coagonist it's a single formulation in the phase two trial starts in the second half of 2024 so we have that to look forward to uh sometime in 2025 we'll get some some real great information on Amicon which I think is probably the most exciting uh molecule that that Nova Nordisk has in its clinical trials you know one of the real interesting things that I see developing here is that noo Nordisk is really tied to gp1 agonism where you see uh you know we tend to call all these medications gp1s but you see the Next Generation coming from Eli ly r a true tide there's very little glp1 in it it's mostly Gip and and glucagon uh as kind of a kicker but very little gp1 in that and so you see sort of uh the the competition here developing and sort of branching out into other other in and non- incron hormones where you see novon nordis is really just trying to build off of the semaglutide platform and it it's definitely a strategy uh because you sort of start to compile this you know really great clinical data and all these different indications um but it's not really Innovative and and so I I the R&D part of this was sort of very uninspiring to me as was the last earnings called The Oasis 4 trial completed uh that's 25 milligrams of oral semut tied for obesity it showed Superior superiority to Placebo uh people saw 13.6% weight reduction with 25 milligrams of oral semaglutide uh versus 2.2% reduction with Placebo so you saw a successful trial complete of the 25 milligram of semaglutide oral now I know they were testing up to 50 milligram so I'm not sure at what point and nobody asked in the in the follow-up questions but I'm not sure what happened to the 50 milligram dose I don't know you know we've talked in and hypothesized on this channel and and we'll get into it a little bit later that it's just too much API right because kind of a little bit later on in the earnings call they basically said that the uh that the release of 25 mgram oral is going to depend on their their you know pipeline prioritization as well as just their raw ability to manufacture that much API of course they have another technology called snack and snac uh which is sort of a small it combined a small molecule element to increase the bioavailability of these peptides when consumed orally that technology they're they're really exploring and so you know hopefully that proves to be uh helpful so smaller amount of the API would be required because of increased bioavailability but just not really feeling super great about seeing uh the up uptick in the dose of oral Rebels anytime soon it seems like they've sort of backed off that uh as as something that they're really pushing hard right now so we'll have to see on on that one uh continuing on release um uh the select trial label expansion uh for wovi uh that showed a 20% mace reduction obviously we saw the addition of wovi to Medicare uh because of that but their step trial the heart failure with preserved uh excuse me heart failure with preserved ejection fraction study they actually pulled uh the trial results uh for the time being from this is another sort of breaking news thing hi Thomas hey Andrea how are you today uh from uh the FDA in hopes of resubmitting an early 2025 uh with some more concrete data I believe there are some changes to the uh I believe it's like the Kansas City cardiac questionnaire um and they want to be able to sign of sort of refine the data from The Trial to sort of fit with new criteria uh and that and in hopes of getting some some more firm uh hard endpoint um indications uh so they they're they're delaying that so that was big news uh you've seen a pretty big drop in their stock today both on the missed expectations I think that was sort of people were sort of blindsided by uh the removal of that um of that information from the FDA seeking th those uh endpoint um approvals so we'll see more in 2025 on that one uh the 7.2 milligram dose of injectable semaglutide trial uh is is a supposed to wrap up towards the end of the year the turn of the year and so we'll see 7.2 milligram dose of wovi depending on how much better it was than the 2.4 this trials measuring 7.2 milligrams of wobi which the against the 2.4 milligram dose which is the highest dose available currently and uh just to see what what you know is there a much greater efficacy and interestingly in the trial they follow the normal titration schedule but they jump from 2.4 right up to 7.2 uh so be interesting to see how people handle that jumping in the amount of semaglutide in her system and if there is an increase in efficacy now there was also questions in the earnings call as to whether the increase in efficacy potential for semaglutide here would overshadow you know kagra SEMA when that comes out in 2026 and and I I kind of got a mixed response there so we'll be interesting to see how that all shakes up but probably sometime in 25 we'll see 7.2 mgram uh available of injectable wovi um assuming that the results are are warranting higher dosages of of injectable semaglutide uh the first phase three results for the redefined one study and obesity are uh going to come out in 2024 uh phase three readout of the essence trial which measures uh 2.4 sem glutide in Mash we should get uh some readouts on that uh this year that's exciting monaluna B which is uh you know when we talk about Innovation this is one that you know definitely falls in the Innovation category uh but it's a cannaboid receptor antagonist or inverted Agonist they call it um and basically they're seeing weight they're expecting weight loss to come in right around 15% in Phase One trials and the interesting thing that they mentioned here and you heard similar things in in Lily calls where combining uh potential molecules that are under investigation right now with their current treatments uh they're potentially looking at combining mon lunab bant this cannaboid receptor inverse Agonist with semaglutide right so if you're getting 15% weight loss with mon lunab bant by itself you add the glp1 agonism in there uh you could see some really interesting things uh come out of that combination let's jump to supply again all of this uh rundown is available at on theep pin.com in my recent blog uh post just bullet pointed for you if you want to go back and read that I'll link it in the description in the video after we drop this video here make sure that you're hitting that Thumbs Up Button if you're in here for the first time hit that subscribe button uh we talk about all things Eli Lily Nova Nordisk obesity medicine type2 diabetes medicine if that's your jam you got to stay here you're going to hear it today and see it everywhere else tomorrow uh Supply reduce lower dose uh of wobi in May so they've been sort of this is the interesting thing I think as you're what you're starting to see take shape with the supply is is that Nova nordis has taken a very different track than Eli Lily has to control the supply and I really really much favor Nova NIS approach here so the the 2.5 and the5 uh they throttled to control how many people are new patients are getting onto the platform so that they can better control the upper doses for people on the platform they really reiterated in this earnings call that they believe strongly in how important it is to have patients follow the titration schedule and be able to stick to that where Eli Lil has just thrown caution to the wind with it um so Nova nisk is being very intentional they announced that they can that will continue to sort of throttle the 0.25 dose uh throughout the remainder of this year to help control the upper dose Supply so put noo Nordisk in the chat if you believe in their approach over Eli lies who is just like you know they don't care they're seem to prioritize the starter dose to get people on it h and then it's like uh the rest of you be damned you know with with their approach to the supply um which you know interestingly enough they say is all available um you all doses in both Z bound and mararo different Stu different uh topic of conversation we'll be talking about that more tomorrow uh as Eli Lily has their earnings call tomorrow and I really really hope that they asked some hard-hitting questions but I doubt it uh continuing on here um they're going to like I said cap the 0.25 dose for the rest of the year that means compound semaglutide should be safe because the 0.25 should remain on that FDA shortage list uh through the duration of this year they talked about how they're they're really expecting this catalant deal so catalent is a uh is a huge generics manufacturer and catalant would this deal for to for Nova noce to acquire catalant would increase their manufacturing capacity their finish and fill manufacturing capacity uh by a ton three three entire plants that they would be able to do uh to to run their um injectable medications through very very interesting because The Regulators don't want to see this go through they obviously do work for Eli Lily and they're reable uh incron mimetic drugs so it'll be very very very interesting to see what happens there um J Gino says Novo seems much more responsible I do think that there's an element of ethical behavior that seems to be um Superior with Novo Nordisk I really do um on the flip side I don't think they're as aggressive with with um with their R&D I don't think they're being as aggressive I think they stand to sort of lose the longer game because they're just sort of building off of a glue tide but you know then again they were first to Market they're continuing to see uh amazing uh dominance in the market with OIC which has now been on the market for what five years uh so it's pretty incredible how important it is to be the first to Market they're going to capitalize on that and who sees what we'll see what comes after that but I do think that Eli Lily definitely has them edged out in the um in the area of of R&D and and the future of these medications uh they're rapidly ex expanding their infrastructure for kagara which is a dual chambered pen so that's the next big one to hit the mark and people say Dave what what obesity medicine are you most excited about I say the next one to come out that's what I'm most excited about and that'll be kagara but the interesting thing about kagara which is a combination of semaglutide again just building off of Old drug technology and adding kagarin tide which is a amalin Agonist it has to be in a dual chamber chambered pen for safety reasons because and this is interesting when you consider that there's gray Market peptides that are already out there that are mixtures of tepati and kinetid semaglutide and ktide uh basically what Novo NIS is telegraphing here is that gagara has to be kept um stable differently than semaglutide does right so they have a dual chambered pen um and that's going to be really tricky to scale manufacturing so they did mention that they are really really going after rapidly expanding their ability to manufacture those pens but they're also and this was sort of breaking news for me they're looking at potentially adding a uh a formulation that does allow them to combine the two molecules together in one liquid formulation and so we'll have to see on that one but they're building the infrastructure I do not get excited about a dual chambered pen a more complicated pen than the ones that are already a struggle for them to keep up with but at the rate that they're expanding manufacturing maybe it won't be as big of a deal so we'll have to see how that one shakes out uh scaling API sites so they they talked about how they're scaling their peptide manufacturing they're also scaling their their uh manufacturing and I think it was biologics was the word they use I can't remember but B basically for all of the different uh medications that are in the pipeline they're scaling their ability to manufacture the API they definitely like to keep the API in House at Novo Nordisk which is understandable uh they had a lot of uh a lot of news uh last year um early last year about uh some of the overseas supplier I think catalent was even one of them where they were having hard time uh keeping FDA regulations and so I think keeping that under their roof I think is much more comfortable for them uh and anybody dealing with a with some intellectual property I think the preference would always be to control that manufacturing so you can sort of protect the brand right hey there's 66 people in here if you could hit that Thumbs Up Button as you're coming in here hit the Subscribe button if you like uh information about type 2 diabetes obesity medicine Lily Novo if you're investors in those uh Viking Therapeutics amen uh you're going to want to make sure that you subscribe to the channel here uh because we're going to give you updates in real time right that's the thing that we do best here we're going to give you the news today that other creators will be talking about tomorrow the next day next week uh you can get it here first uh we cover it very very close here again everything that we talked about today available at on theep pen.com in today's article I'll definitely embed this video in there uh if anyone has any questions about today's earnings calls or wanted uh any more color commentary around it uh drop it in the chat now as I said tomorrow we'll be the Eli Lily earnings call we'll be back here again doing the same thing where we'll be talking about Eli Lily and I'm hoping for some answers on how it just how exactly uh they can justify putting all the doses out of FDA shortage I'm hoping that we'll hear that they're going to release uh Z bound or mararo in a different presentation hash relas the vials hash uh report the shortage is is the other thing that we're talking about here so make sure that you go to the FDA website and report your shortages when you experience shortages for Zep bound and mjara so that the FDA is getting the picture from the patients as well right they're getting the corporate side of it from Eli Lily but they need to be hearing our story too use hashtag report the shortage when you're making videos if you're a content creator or if you're watching other videos uh somewhere else put hash report the shortage it is so important that people understand it you can go directly to the FDA website you can report your shortage and they need to be hearing that you can also go to the road tracker tool just do a Google search for glp1 Supply tracker uh click on that it's going to take you to Rose's website where you can uh report where you're finding or not finding your medicine and if you are not finding your medicine uh they will report those findings to the FDA also and so uh using either one of those two methods whichever you're most comfortable with uh I really would highly recommend that you are reporting your shortages and the issues that you're dealing with so that the FDA is getting a fuller picture thank you for being here thank you for being the best part of what I do it on the pen we couldn't do it without you we wouldn't do it without you and thank you so much for being here appreciate each and every one of you hit that like button before you go and share this with 10 of your best friends and we will catch you on