00:00 Spokesman a
From politics and regulatory uncertainty to the difficult dynamics of competitors, the health space is facing a difficult background at the moment. As the global health landscape navigates uncertainty, we are looking at how to play in the dynamic environment in the Yahoo Finance playbuck. Joining us now, Assad Hider, Goldman Sachs Global Investment Research, runs the American pharmaceutical analyst and head of the Business Department for Health. And Assad is also preparing for the Goldman Sachs Health Conference, where he will have a chance to talk to many of the executive directors within its coverage. So, um, it should be interesting to hear what they have to say, Assad. But I know, before that, you somehow look at two main areas of treatment, because where the most excitement, I guess the development right now. One of them is GLP-1, which kindness we talked a lot about. But the other is related to oncology. Talk to me a little more about this at the moment, the background there because it has received relatively less attention.
02:11 Assad Haider
Yes, a great question and thank you for having me, Julie, again on that. So, yes, we followed our health conference next week. As you said, we have about 200 companies from all over the health ecosystem, approaching Miami, where we will look for the direction and color of things like politics, insecurity, etc. But I think from the bottom -up point of view, our focus is really on the basics and new cycles of the product. And as you said, GLP-1S and obesity are the ones that are talking about AD Nauseum, although this is what we are still very excited about. But there is this new emerging modality for the treatment of cancer. It is called that it mainly combines two test mechanism for cancer, called VEGF, a person is called PD-1, and combines them together and the thesis is that the sum of the parts is really greater than the whole. And you have seen some rather promising early data from some companies on these modalities. And there are many partnerships that are being developed by global pharmaceutical companies, the latest you saw this week earlier, where Bristol Mayers partnered with a company called Biontech to collaborate on them to develop these PD-1 Vegf bits. And just before, about three weeks ago, you saw Pfizer jumping into a fight with another Chinese company called 3sbio, with a deal where they want to cooperate with PD-1 Vegf Bispecifics. And before that, Merk jumped, so everyone tried to get a slice of this pie. And these are very early data, but so far early data seem promising. And if the data are retained in the attempts at a shorter stage as they ripen, then this could potentially disrupt the standard of care in oncology. So, you know, at the moment, the biggest medicine for oncology is Merck’s Keytruda, that is, on the road, to make about $ 28 billion, $ 30 billion. So, obviously, there is a lot of excitement from the new modalities that could potentially break this. And so I think there is a lot of interest in that. You know, we just returned from the ASCO meeting in Chicago, and that was really the star of the show they were all talking about.
06:24 Spokesman a
On this topic GLP-1, Assad, a question. What is our visibility line at the moment the pill becomes available? And when so, what do we think how do we think the price will be compared to the shot?
06:58 Assad Haider
Yes, that’s a great question. So the presence of the pills, so Lily, Eli Lily is actually the gable here. And they will have data later this year at some point in the fall of their oral obese pill called Orforglipron. And this process will read this year this year. And we expect that they will submit, assuming that the results of this test look good. We assume that they will submit shortly after, and then they will have a fairly fast global start, starting in 2026 in the United States, and then globally immediately after. As it concerns pricing, they have not yet told us that they have given us their strategy. This is a good question as a whole, only in the context of the whole focus on price dynamics and international reference prices, etc. You know, I think the main assumption should be that it will probably be achieved at a discount for sure in the international markets. And then there will be compensation for the volume and so we model it. But it remains to be seen where these companies value the pill.