00:00 Speaker a
From the uncertainty of politics and regulation to the difficult dynamics of competitors, the health care space is currently facing a heavy background. When the global health care landscape browses uncertainty, we strive to play in the dynamic Yahoo Finance Game Book. Next to us, Assad Hayder, Goldman Sachs Global Investment Research, is headed by the US pharmaceutical analyst and head of the health care business unit. And Assad is also preparing for the Goldman Sachs Health Care Conference, where he will have the opportunity to talk to many CEO. So, Hm, it should be interesting to hear what they have to say, Assad. But I know that you look at two main areas of treatment in advance, as with where the greatest excitement is, I think the development is currently. One is GLP-1, which we talked about a lot about. But another is related to oncology. Talk to me a little more about the background at this time because it received less attention.
02:11 Asad Haider
Yes, a great question and thanks for having me, Julie, again for that. So yes, we had our health care conference next week. As you said, we have about 200 companies from the whole healthcare ecosystem that comes in Miami, where we will look for directions and colors about things like politics, uncertainty, etc., but I think from the bottom to the top of the point of view, the focus is on the basics and new products cycles. And, as you said, GLP-1 and obesity are the one that has been talked about by AD Nauseum, though this is what we are still very happy. However, there is this new emerging cancer treatment. It essentially combines two tested cancer mechanisms called vegf called PD-1, and combine them together, and essentially the thesis is that the amount of parts is certainly greater than the whole. And you have seen some promising early some companies about these methods. And there were many partnerships that have evolved from global pharmaceutical companies, of which you have seen last week when Bristol Myers collaborates with a company called Biontech to collaborate these PD-1 Vegf Bispecific. And before that about three weeks ago, you saw that Pfizer jumped into Fray with another Chinese company called “3SBIO”, with an agreement where they want to cooperate with PD-1 Vegf Bispecific. And before that, Merck jumped, so everyone is trying to get a piece of this cake. And this is very early data, but the early data still seems promising. And if the data retains in later phase tests when it matures, it can disrupt the standard of oncology care. So, you know, the biggest oncological drug at the moment is Merck Keytruda, that is, UM, seeking about $ 28 billion, $ 30 billion. So, obviously, new ways that can disrupt it are a lot of excitement. So I think it’s very interested. You know, we just came back from the Asco meeting in Chicago, and it was really a show star that everyone was talking about.
06:24 Speaker a
That GLP-1 theme Assad, a question. What is our vision line at this time when the tablets become? And when it does, what do we think, how do we think will the price be compared to a shot?
06:58 Asad Haider
Yes, that’s a great question. So for the availability of pills, so Lily Eli Lilly is actually here first. And they will have data this year later this year because of their mouth obesity pills called Orfordripron. And that trial will be read later this year. And we hope they will assume that the results of that study look good. We believe they will soon provide and then have a relatively fast global launch, starting with 2026. US, followed by global scale. Since it has to do with pricing, they have not yet told that they have provided us their strategy. This is a good question extensively, only given the focus of price dynamics and international reference prices, etc., you know, I think the initial assumption should be that it will probably be priced at some discount, of course, in international markets. And then there will be volume shift, and so we model it. However, you still need to find out where these companies cost the tablet.