NVO - Earnings call transcript Q2 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Karsten Knudsen

Welcome to the Novo Nordisk R&D event in conjunction with the ADA 2022 here in New Orleans in hot summer June. It's great to see all here, and we have a very nice R&D presentation coming up. And I have to remind you that this event is being broadcasted. And the setup is that we will do a presentation of some 40 minutes or something like that, followed by a Q&A. And then we have a small social event afterwards.

the of kind that's format. So statements, then, And forecasting, as around, be we to does so forward-looking you predict in modeling warned have when as a always we and out of will hereby usual especially there talk remind that appropriately. future internal I about pan the and our number not R&D,

So Nordisk. Novo from management today, in we are a team of X

With than Frederik me, Development; Novo with have Nordisk CFO for X myself, years Head bit little and Vice starting Lange, now. So Holst Development. and of more I of Martin Clinical EVP Rasmussen, Karsten a Head Drug of President Knudsen, and Senior Mads

are outcomes, presentation key so all these most the two who design, do on. around to will of today clinical our logic field So questions the and trial gentlemen will the who and be able

we're to forward So looking that.

program. the is this So

and a So all be number trials, what our obesity brief will to that we insulin, do by looking into with sure Martin trials, additional results our insulin recent our trials once will with the then trial followed a after diabetes Mads GLP-X be will of pursuing most about. label SELECT indications continue Then our icodec, I'm STEP on introduction, the at and Ozempic. And then in weekly we're digging the Martin Q&A. know you

our not since aspirations QX. sure I'm changed seen results. from It our slide starting out, I has strategic brought So you've all it. quarterly

also governance progress purpose our sustainability, environmental and side, side So the just all, extremely on perspective. what ESG, both reminding you the call we showing and on we're on nice social

as see, sales year doubling value points X.X commercial market up QX of execution, care to compared terms we to share in to obesity year. take diabetes, you last In a compared ago, percentage continue

and the X%. then, with the rare on growth allocation focus. innovation Novo obesity on corresponding And in skip of also cash care. that. of strong growing financials, one growth profit XX% to recent happening line behind capital at had top also shared strongest and back momentum quarters think And the and disease, very shareholders. history the landscape. and therapeutic really, to our I And we of come drivers We'll solid ADA I'll Nordisk, what's XX% So obesity in course, conversion

at I XX% now then global as you the And at happening So diabetes. volume share on GLP-X our volume Novo recent now market market that And here in leader, of side, 'XX, is share Victoza. one Nordisk, furthermore, global on share. slide shares. the on that I now market total global on share, left-hand again, of the brought exceeding slide scale, March on both market a and what's GLP-X brand volume trends a counting brought and the market XX% Rybelsus XX%, Ozempic global see, we you global And most are monthly development share as market the at biggest showing on volume franchise, measured Ozempic, see global market

that's global that on graph us and seen We is we on see momentum behind a outlook more drivers acceleration also that XX% full XX%, in U.S. we've XXXX. of growing QX. strong key year a side, the starts -- patient in volume the the our and growing also in of in very with beginning in the results a market a an new market discussed connection reaching So growth is scale. with on our of right-hand north than market this a back conjunction measured at the QX here for Then GLP-X

per per week the exceeding and scripts to new new starts, now XX,XXX to new say, back even I'd of tune So approaching XX,XXX the patients moving scripts of Ozempic week on on from, Ozempic.

of that market. Ozempic. behind also very the clearly, the launched in denoted And U.S. now momentum on Ozempic as So we've X.X slide, strong

a sales diseases. of this and just Martin. furthermore But a the a And we growth and presence over chronic we're key I to with in into other expanding looking before both remember, our of aspirations at we've to further disease our then, final corporation, investing set on serious down diabetes, opportunity R&D step as hand obligation slide key course, our have innovation strategic the rare efforts. in even So obesity, is ambitions for

pipeline our basically, So our also pipeline categories. and expanding towards therapeutic diversifying more

of segue happening these a is in the care activities think best and days. happening that's lot obesity there. And especially to you, investments what So to cover I Martin,

Martin Holst Lange

of drug time, think he to [indiscernible] Thanks in doesn't introduce introduce himself. Yes, industry. to years in Novo Most in of has myself. been that not most bit experienced developers is had has U.S., he the also have so Maybe Novo on Nordisk And and little a to but know the he's I'm Mads me, one all so only almost development. XX Nordisk you I much. so in not going Mads.

really, he really, ask tough because to should So him some answer. how you questions knows

Mads Frederik Rasmussen

friends. We're No.

Martin Holst Lange

I fun we calling that for while our a numbers, R&D we lot Novo Nordisk, in in just that of accruing busy remind more this also speaking also and investing more are and investing out Before more ourselves R&D. that terms wanted Maybe has the of are in year obesity discussion, to jump we efficiencies. to I are to also fact been a

‘XX, of III but you trials. beginning in both of So investments. in particular, also of the reality, It Phase depth during course but us we a of the get us the I/II initiating And but to number Phase also, increase pipeline. breadth allows during more ‘XX, our see the both continuously our of out also

as have within few, And to Phase half talk we which is super all And or pointed super, are next X we was talk problem. of areas ourselves. not Now to obviously just nicely highlighted to and be then a a I approximately team slide, – to what a out turning of the the very disease and supposed is call of this, the that’s going that little I that in [indiscernible]. bit for and III to about reminder, But a all [Jacob] just slide. promised defined about,

XX a have time not I slides, We to lot of on trial design. spend and promised

this that expect that before I’ll still and quick. do initiation. went we as That anti-inflammatory very, Semaglutide, to potential we exciting. a advanced slightly is population trials specifically currently with We We’ve acquire than for is in targets of Alzheimer’s of And very research readout moving. molecule the of bit super years within And exciting quite to of technology discussed a for on that, both forget a with It’s is And for looking That of just number allows of something Alzheimer’s talk initiated going acquire III during clients. almost an our see a patients, we did And the that We itself approach. that finalize for but to our course the we It’s quite for chronic kidney to all disease, readout certainly we sometimes that diabetes, recruiting efforts means shout-out. purpose been in protein treatment we’re years obesity. diabetes but Ziltivekimab, of our cardiovascular to is the that complements fairly cardiovascular I’ve established start the year. nicely. And Obviously, will that platform about trials. So make with recruitment more areas those can able of we this think treatment acquired rare to ziltivikemab of in reminder, this disease, a only within treatment disease midst you. and the not with the at ago, recall, tremendous a which Alzheimer’s. midst obviously, the difference X.X innovative very the you’ll XXXX. to also also in also the ASCVD then but is I X RNA-based obesity, think, a in oral complement are very, diabetes a those trials of specifically, ASCVD before. platform actually also then semaglutide as Phase little our the obesity, a Dicerna. We recruiting disease. inhibitor of requires both pipeline.

in So Wegovy super approval happy about, obviously, Europe. the

a and in the X-milligram the first we’re Karsten towards first of have aiming the this asking approval end the were You to when launches year. Europe for obviously about Ozempic coming, U.S. in launch is talked the lot about

seen You’ve Really, that on of our really sales. the that for impact high offering. aspirations

a place where tirzepatide. being in are responses We about a lot to we’re asked

both not as that you terms there’s We in of the are all B and from attractive Ozempic. comparable and submission the opinion for difference a in disease, for as control profile hemophilia MimX super X we doing tolerability the inhibitors. between And rare offering know, of a see concizumab A an uptick with midst that a perspective, and with also concizumab patients is from rolling actually a big in to this are tirzepatide already. of efficacy milligram, of glycemic we with

talk year. the same We MimX come population will aim full our and time, be course the for about in study patients for initiate submission we during icodec ONWARDS QX. At course Then III be and X. there for Phase will of back the and – of inhibitors study X with the order. the I’ll X, during this to finalizing regulatory III short Phase

really has the was run-through a And year. in busy will actually the us super message Karsten I fast really, that. So space. into been is That not is clinical go more and invest a to really, allowing exciting really end what

share And know see, XX,XXX as ‘XX, Mads lot space. when most we also had in of started his of clinical we is he in you You the trials. research the clinical patients a for has responsible in will trials. we sort invest lost because

therapy XX,XXX number are of R&D actually of the which X this Phase here. a we of is is a and combined future a is fact obviously of within moving III, we projects We combination activities. that also to of progress talking again, forward. reflection course high during obesity, disease in our reward of pipeline. we That’s obviously of approach for but, space, our balanced nice similarly take what the risk the in to in we close that we with to program. intend areas not the to new the our today maybe have great very, some We exceed intend profile low-risk all diabetes, III just the disease And the bit also the profile years very where areas our giving high-reward, a this word of rare And see Phase a one ago, nice us risk Maybe and higher also year. in maybe see XX,XXX, were just

diabetes. about type approaches, see prudent It not our obesity. – been about of why NASH but type in of the The our about obesity. treatment this in diabetes majority diabetes, starts X with commented most severe not outliers, comorbidities. us with also cardiometabolic is to even as associated of patients of obesity that in other diabetes about comorbidities. makes is also cardiometabolic you the may of and progress allow talk for a this only obviously type disease everyone super talk believe not sense vast will with with lot diabetes start Everything among X that, prevent the anti-obesity of know, Moving diabetes obesity, obesity medication you basically a then comorbidities is us, and This, you type obesity. have talk because We with and obesity some Therefore, conference more our obese, but to patients. the That to obesity. that competitors, but and be anti-obesity been and diabetes point space, of the think, are X it’s talk the Obviously, in the have vast about but of focus ADA to also is and majority context at I This the the to of use obesity about has many is X on they new. space the approach cardiovascular talking patients obesity. frontrunners on starting we the super, are

introduce them know comorbidities that of will for – This important hypertension weight some goes maybe obesity, them will the aspects with if example, very, driven later-stage or obviously, by the even You with the before early for some hyperglycemia, of maybe X period is not hypertension undiscovered I I to cardiometabolic more of we of we touch that Mads outcomes that years. that patients long, talk obviously hypertensive, of X prevalent more smaller rule in X%, develop weight very the hear to patients, loss of some, can speaks for are And actually actually see than diabetes including of loss diabetics hyperglycemia, associated improved smaller about hyperglycemia. years with diabetes time XXX syndrome, allowing XX% the XX dysglycemic, because that maybe even undiscovered think terms at ourselves, outcomes. are The the type look losses, or clear about say but can years touch some thumb, what than for of to comorbidities others. and that weight dyslipidemic, moving these of is plus, introduce, maybe then And diagnosed. their a hyperglycemia they towards undiscovered are And impacts losses, weight that, goes the that has and you comorbidities. being the starting that’s we again, long where where XX%

of passed. about back I’ll that But SELECT patients SELECT trial slide. you come can talk defattening to that why my start That the we more on cardiovascular believe we about risk, improvement for more of Now X% obviously can the about super comorbidities. control certainly better know the was the loss, impact talk and obviously already loss, We excited trial. stopping and and diabetes. of weight liver, decreasing XX% sign to weight the to with introduce that are more talk maybe better data moving and do next we and with support super, severe and probably was about glycemic prevention to the potential and really outcomes

Mads Frederik Rasmussen

Investor Relations. That's

Martin Holst Lange

Exactly.

the of data of weight can with year's XX% of Obviously, this compound ADA. these the presented for all like introduce with consistent We loss the in treatment look reduced and to that we at and briefly, obesity, at want evidence is trials. we very weight across very, that circumstantial body semaglutide in semaglutide. So our excess in we a

thumb, XX% if you're body on your rule of lose you So of semaglutide, weight.

semaglutide randomized remember STEP STEP You X follow-up. milligrams our X. with complicated. X.X the a placebo, study standard pivotal was versus may That X. patients for X-week to in trial weeks XX Fairly Wegovy, is hands, X more little a

Here, we treatment. at the to stopping of look impact anti-obesity wanted

also then semaglutide, So in of, allows also placebo. and XX continuing semaglutide to certain at loss to know, weight studies obviously That and talks gain of as disease -- accruing looking which treatment is risk period. way us loss XX-year And the patients on being for a what when over being at with or in on to weight us at terms we reported obviously, weeks, factors. But developing one diabetes loss, look gone know but with weight And have interesting. is we that. allowing of scoring, randomized was you loss. these That weight a look happens with the can XX% this then the cardiometabolic body semaglutide to about placebo continuous to -- switched what about do risk weight

glucose and risk treatment. or but patient's blood treatment, age, a up. data. do also very, on see goes of score being risk like that for trial, diabetes They semaglutide-induced diabetes almost risk strong using it's blood semaglutide XX% the impact very lower loss. this and What evidence pressure, this have are at then a you of a triglycerides or weight of patients is stop risk score, developing not that semaglutide cholesterol, and if XX-year reduction we of can over the suggesting that accruing Looking substantial, and if having a back proof, the suggestive being associated predict suggesting developing with we Therefore, in sex, BMI obviously semaglutide factors ethnicity, the risk semaglutide and your STEP period. is regardless that STEP Obviously, at X quite looking on XX-year X HDL trial

is of data clear again, about are do So a asking treatment required it of treatment, time, that when we is as probably semaglutide for weight chronic introduce a interpretation is stop? from you a treatment, or Our you what then loss this that treatment a continuous management. who suggesting weight is and talk to suggestion chronic some is time weight-lowering to something you

important that think I this. of out an is going conclusion

we've that about When I've I you hypertension know that chronic talked don't treatment, think it's with improve some to outcomes. improve also about also talk treatment analysis. of because to treatment? idea. back couple chronic can dyslipidemia SELECT We going through about treatment to established talk heard You treatment, chronic a say we you. you've outcomes. treatment, is ask, will the Then SELECT when you the times this also you intend use of chronic

that prevention to to do And to treating childhood and intervene would early, we is on to today, to of don't initiation obviously talk early living important. or all of with mean, children, seen, global just break least the we discussion, at study very, treatment? realistically I prevention wanted of we about there's if XXX is way about of and start that closed about we reported, we is obesity this in something talk speaking, we of in This, ago. specific of you chronic we couple but this a this very obviously, adolescents. temporary or when obesity about prevention. comorbidities, couple those. about a when is that case, it's scale. and have Broadly of adolescence. the prevention people in intervention One We to have may other look talk of -- at So million weeks Then think a are a realistic weeks be sort I obviously is finalized don't I not talk diabetes also, obesity we almost talking which ago curve, think can internally, is in believe, important. starting

is XX quite or the obesity XXX the to and almost to randomized milligram call is semaglutide of age, treated conducted STEP fairly interesting a being patients, therefore, XX XX% What TEENS. high XX% small we X.X usual we what aged because study, years the STEP see placebo TEENS So results XX are we to weeks. for usual that boring almost loss. is weight with

was about imagine can really here, preventing talking body can develop. talking can consistent a this super, new we therefore, really semaglutide. you but being adults start from can that probably that And is well obesity. really, in super We preventing adult do arena, that start tolerated. nothing And really, about apart the effective then the So really we interesting because children, it approach think comorbidities weight-lowering we with in if

So the children are their is we of these safety that almost more these improvement in in slightly life see actually maybe that than we despite obese see peers, profile by a fact the obviously a but that quality in what statistically clinically relevant than children. lighter adults. significant did this adult was also reflected fact see And also attractive we

So for exciting. really us, really,

initiate I these trial. comorbidity discussed something of other also talk obesity move and data think this interventions that early prevention you a a see to Then months. for about is will preventions. couple to use Again, us how few towards we prevention, the SELECT on words to diabetes just

this our placebo with You of Capital being talk Day. heard end patients at with Markets us primary at study, or about looking semaglutide a again cardiovascular X-point SELECT outcomes. MACE the XX,XXX treated point is big

other previously, discussed we primary cardiovascular. be As looking than we end point is outcomes MACE. the also will But at

analysis, questions there's We an no will asked. do and interim

for an me, our -- is DMC internal going that will expect than full prerequisite should analysis you making the analysis, something accrued they consequences and look The will without know, -- at a study study looking will remind their that or I be on into what of is difference. The interim basically disclose. And will at should you XX% the want just then ask is more the at we you the decision -- I be that look data, numbers, when number and the powered analysis. something DMC events, however, interim they can the interim you an for is data. the XX%. based do external will We that we of sufficient have to

or disappointed but -- number super estimate means he should the asked that We that, team, and again, with and has beyond let's the trial -- happy you because we we XX%. study point time. a XXX have XX% months, not recommend we say, super very estimate what I if approximately don't closing means the take Mads on study to is point substantially That That will point results. also why events. end that those that and specifically could X continue is accrue in the the months. even That's nice X that close at is want if mention be reason the very, not the have super, they're continue that to is the to actually take that trial. very the And primary approximately them is be will not quite though XX,XXX good that the XX% continue will to do will We actually patients, will there risk still between, XXX events we and would if we a And XX%. then down good. to then that trial think XX% a with And looking basically

even very, that could good we So continue study. still the data mean very

a the has could the DMC both legacy very, space, see decide autumn, questions. but loss trial. that semaglutide, so Martin bearing. decides intend to already introduced I'd by -- look going of to the we're, of some also this disappointed have regulatory substantially or the point course become the the continuing potential none of very obviously weight can trial. inform during perspective And is SELECT about comorbidities comorbidities impact What's the rather, obesity XX% that to trial have to if to you potentially than us fullest. from before is out also the a have we long-term trial the the be to we our interesting, use close just at to that impact is now, better impact, obviously, in that to close estimate I quite point We

patients XX-year of impact at to on this there from a loss UKPDS SELECT that the the long period, potential of we a having control could do of of but for glycemic that period outcomes semaglutide-treated weight time, patients intend in that and a between a don't to looking number. period have that that. patients period have control believe extend a on there's period. both weight And and for prolonged trial placebo actually obviously So trial. weight the introduce into with X,XXX follow-up extension also good loss period. a also think accrued will legacy Seen or effect go all that substantial is glycemic having that observation legacy time good loss substantial We introduced potential that XX,XXX intend a XX,XXX still that It somewhere we a will of XX-year a be but patients, we legacy

of of of indicators diabetes. -- could potentially for at X, at we same X also in period off-treatment will at, actually authorities at for and but about on STEP X with actually with allow requirement potentially, saw But developing settings, risk prevention. diabetes interact an allowing The extension, -- potential look diabetes be to can example, the we the we'll in we least obviously, looking us X to off to loss diabetes months. is points, trial, improvement what the in where SELECT looking talked regulatory ourselves some weight prevention prevention regulatory-grade regulatory at XX-year be saw prevention. end that look We Now in associated we diabetes the just a

call a them Here, good dialogue. and that XX will for obviously providing years, we are

really, So really exciting.

of and obesity potential XX% and looking also established a to a overall, being to to for establish conclude And believe we we that super over risk potential SELECT-LIFE and risk very, as So SELECT the have with intend prevention. not in do introduce again, decrease STEP the able up we great a TEENS, exciting holds But on end its X semaglutide adolescents, about developing the safe year. substantial weight X interim excited also obesity of a at to potentially part, is very just loss the diabetes we in diabetes follow a decrease with on is analysis a through indicating only of We're being associated but risk. complications. going prevention in period obviously, score to potentially that STEP this XX-year X, type be discussed, a

over that, with to So Mads. you,

Mads Frederik Rasmussen

thank So you, for and me do paper my and hairline. to also time. introducing Martin, a on try thank you We'll another

Martin Holst Lange

not here for will be another years. XX Yes. I

Mads Frederik Rasmussen

So about in diabetes. tell GLP-X to you I'm here

You're we of semaglutide probably use lowering. well investigating and that beyond the glycemic aware control are well weight

So initiated And remind STRIDE X FOCUS, the the with FLOW or and oral benefits trial we've just clinical kidney to X FLOW chronic SOUL, related disease. for STRIDE potential our these you trials trials: disease, peripheral I'll and either about today, investigating semaglutide. subcu trial the arterial trial,

So of disease. background first, kidney about a little bit chronic

it time all about hear You ADA, at by here the the and that's not chance.

either X chronic number certain a to -- also extent You of kidney can XX% disease see association type or diabetes or have around on the -- with X the proportion panel XX%. type to to that patients the left is the that

in kidney all of And XX diabetic approximately you level kidney the disease notice you'll patients it disease X or X half end-stage of clinic, If progressive progress meaning dialysis a actually is those will have that visit a kidney who way who that have have to disorder, end-stage diabetes. disease. another

So In we related have data there's outcome definitely to an kidney disease. unmet addressing. here that cardiovascular collecting conducted our need on already of progression focus also worth a chronic is trials,

per actually disease with see the an decrease close our attenuated GLP-X trials, of LEADER a receptor body rate we agonists with milliliter Victoza years, chronic longer, year. somewhat diabetes and kidney X compared kidney surface to effect did active approximately was X trial with that function X will trial, controls. per their X the in with thumb -- A to per that loss X-year with glomerular rule So or is semaglutide, patients of area filtration minute SUSTAIN

see are already by that is Even here, effect through here established is XX. patients chronic great, right clinically actually with kidney the more are though see and indicated that have to be disease, worth meaningful in the effect kidney that encouraging something even to can that not than that disease. you So you up chronic eGFR less patients the numbers substantiating the in dedicated an seems moderate that trials a greater

with X or an So renal a more trial is end more or chronic albumin kidney primary collecting end but event-driven the disease, higher dedicated trial to of excretion years with cardiovascular without either with with eGFR so-called It's trial albumin dialysis somewhat death, associated diabetes type urinary patients with urinary death. or a expected of X very a last as point indications chronic point excretion of for renal for FLOW the things low either disease. kidney with therapy, composite replacement or eGFR

point. that's So end regulatory the

addition, we'll is really at one that population also be of at standard of posters with this stumbled diseased session. and that something may lot ADA in a year's have the is a you In MACE. comorbidities, looking over This

or characteristics the or of a But complications. -- the high trials. KDI nerve FLOW that's X/X CKD trial, of when AXc score, calculate Improving that to see diabetic according diabetes We here, that say, XX either that at with the the here. levels could you'll population the than So level, comorbidities, And diabetes if is we have the name half risk in of to that notice But score. baseline diabetes age microvascular Disease: duration it. similar score, is in the you the see complications, very you more a, patients close we've more at also substantial, close with progression you risk Global complications retinopathy included the patients look Outcomes of are -- you diabetic of years to this association an actually our of the somewhat somewhat didn't, can either just progression see over Kidney population is that duration -- to population actually many included the can or

we both something towards something the as use physicians And kidney will agonist. look why So can we to outcome is forward GLP-X patients we can and receptor very This agonists. much these we this in another something the a But with there that with substantiate promotion you conducted could use population will and claim. first a say, that the and receptor not be certainly the data Ozempic. to outcome label in that use that of target GLP-X -- trials reason should for see extend, only is that

in diabetes brain. peripheral with with the instead Another clear limbs, in disorder of There's the arterial or associated the the association so in diabetes. disease, is heart atherosclerosis

So come complication initiate or part new treatment And a XXXX. here. actually that There's XX in diabetic an diabetes, that approximately an with with of complications something associated people of led past rise a -- a neuropathy, we've also effect seen giving of XX% to is PAD seen unfortunate is really diabetes have than on is age. arterial disease. actually, XX% older diabetes, unmet that peripheral and a either what long-lasting has to of study need with Victoza. trials, for more market It to the also our that of in the foot, years to hasn't us microvascular There's to peripheral substantial atherosclerosis since duration LEADER also link the

see XXX for they it a treadmill. takes claim too of their can in to So meters. these But to XXX the than intermittent outcome, called diabetes. an on symptoms have they type with pain that they practical, background make should is X it own STRIDE functional The that certain they walk that improve X-minute to have these meaning label days, And because we that the actually III more inclusion To walking people what's a patients idea intermittent if meters a able the left program walk many on claudication intervention. more test of designing is be here need with shouldn't of a again a actually then, get until Phase claudication effect. last long their degree, trial surgical that's with here criteria claudication are so than

So have patients complication. that another using in great reason for GLP-Xs this

things patients. to takeaways we overall a see that of do for the is GLP-Xs still lot So can that good --

of complications, SELECT We doing these conducted of course, X have along with, the trials. us direction that on with based SOUL our in has evidence we've trials outcomes and that cardiovascular what we're already in led

trials more a 'XX the his read all that out, at wonderful shown longer. The today You'll once X have little take latest. the readout and trials also And FOCUS about but that, Martin invite stage. in a will back should hair the that hear bit I've with has I'll that onto

Martin Holst Lange

very much. All right. Thanks

also the lowest this long-standing also in Thomas a glycemic but of of hormones, was at hypoglycemia. hypoglycemia regulators it's that was It's been X normal it, you introduced response, being about case. today it. control, of really and millimoles. In during by we've we glycemic actual because not treatment written investigate Thomas by introduce risk But The period prolonged so care. seen idea to of We study And the what you them or the risk the basal the insulin ask icodec therefore, low about associated dosed it there go so form to in standard. comparator They still on by crossover, recent in than Xx we one hypoglycemia. standard to hypoglycemia. conduct of of a the treatment secure Xx of double discussions nice XX good not lot It's a something that either milligrams know are to Xx that treating you we've And importantly, which have they physicians degludec insulins test. do a half-life or looking twice super really -- way really, versus insulin far. Actually, don't nevertheless, are of per level look the deciliter to hypoglycemia the not being presentation that it, more ask response to then of too today, icodec. with a way or good that hormones, a if by first That's you with degludec a the this whole guys achieve of risk X And about to overdosing regulatory patients maybe Pieber introduce is or at hypoglycemia But with of ago, XX is glargine. to is is Some longer really, go a you dose. hypoglycemia it's is That's introduced the despite seen the either to What is about. too of more And is session below ask concern. and and on with that, about discussion. the risk dose are it randomized there It's the And far When patients. some about then a case, years being years. It's patients only in But specific now the insulin attempt look than obviously actually is to you clamped hypoglycemia. dangerous. looking they the compound. standard before dose. level, insulin is give at at run that sufficient, count terms the our all glargine, you interesting, in done have

in doubling we reached approximately saw arms treatment deciliter. the level both that With XX% dose, below milligrams XX actually in per a the

insulin icodec the hypoglycemia to super, us. as super dose, that level obviously reaches with finding see is a that actually fewer patients glargine. comforting in for tripling we With less compared or That

we also and disclose of that trial, ONWARDS X, X dose ONWARDS of But none patients that any didn't talk the ONWARDS I already ONWARDS at prolonged inadvertently for either. is nor observe hypoglycemia. now took for You the see -- duration them loading after obviously X this important heard not dose, hypoglycemia. can neither about X we loading did that in X had actually that me what we is the and

about on So quite perspective, that the profile development that X in the ONWARDS current data hypoglycemia talked also icodec we're segue X, a hands on and We've lot X, a program. going I a reported assessment, least I'm I'm going these nice or and ONWARDS last now minute. into repeat a we going you think to safe. based X X can already. just we data at about actually ONWARDS to talk on to our and our Today, in week. in the That's data show from ONWARDS ONWARDS conclude X is

and still and ONWARDS course ONWARDS read of July, waiting are and and X read X ONWARDS in X, out X. waiting we for will the X for during actually still ONWARDS We QX. are out will X

So still time. very, very exciting

trial previous icodec idea And insulin-treated are are to was insulin Just either X simple. designs a trial. from trial, was icodec ONWARDS basal ONWARDS degludec. a fairly or at manner. so case, either to degludec in switching XX-weeks a the randomized look first this to the their read was the short from to remind being comparison, or X:X to in out. the already Patients fairly X ourselves, patients

Sorry, sorry.

correct. after was as schedule. is that the the bolus super, of then -- sorry, introduced dose that. we and dose, And simple. super titration yes, sort -- think I titration first obviously, this will the had notice, This this regular you is Therefore, we

for purpose the obviously icodec to simple thing is very simple introduce but with key a titration is weekly to something Our Once is treatment that schedule. use. is thing, patients one other

by would below and and with standard very adjust decreasing SMPG from or X.X a treatment. being do we -- values either dose. once-daily either or So between different based what insulin being to asked X.X are Very, patients above, millimole X.X not on the insulin increasing insulin

point arms, There the percentage difference. as results, decrease the with to between actually nice difference points insulin a the X seen of terms compared level was to insulin You've hypoglycemia. superior treatment saw treatment arms X.X very but of icodec in degludec both the no in approximately

can to show So it or, super have once a year our to approximately a on this with perspective, a not of -- something about very use to of regulatory, being icodec and obviously with as the we, X.X is superior actually daily degludec. low corresponds treated this is on surprising that X:X indeed to this that from the lot us, patients an discussions. And is for terms numerical that events weeks. exciting. but -- to that quality wait suggesting hypoglycemic fairly sorry, X.XX correct, study, in insulin being case, XX about again, weeks. could for difference. rates, -- in to and the hypoglycemic a insulin. that talk quality the have I'm trial actually no hypersafe a is in is low ONWARDS doses, bigger of around Nevertheless, that statistical X,XXX X, over are once saw degludec. analysis life. difference. do icodec, an The weekly to glycemic XX It often that This the Maybe I'm able note absolutely icodec. that That quality another. X.XX either with that a with is show And life payer told Patients low, equally, not going that is event at been was trial. from in We've We Also being degludec is improvement of with life. a interesting with a one very, is in icodec. we a randomized never perspective data only and glargine. from talk patients compared now a and We simple to icodec to

was and the So readout that XX weeks. terms regulatory But the initiate how icodec. first we insulin-naive are is insulin to guidelines. for live X.X year, continuing and of the so trial another readout in slightly to These to up basically patients, at primary different the are

priority icodec This is very we spent with do we X.X bolus do expected a over same little the percentage is doing then this And used dose years I same to mean, just was therefore, significant. XXX This will obviously algorithm very, titration I we nice. it. X. The statistically dose. know give treatment also We treat-to-target and in the remind becoming the you data can that And also we is bit we use so Here, are to studies, glargine. that point ONWARDS how do claim give -- insulin treat-to-target studies. boring, not difference. a

can SMPG this you we the completely that treat superimposed means trial. That target. If also in they basically proper profiles, are to claim at look

we and also So the is that This this to is where insulin what claim in in -- in here between X study glargine. is time probably a can difference on to better during see speaking of terms glycemic glycemic icodec the day, being is overall first able show giving we control actually the feat range. therefore, superiority slide, than is a insulin quite insulins color control

difference X%. of is some you XX% That really ask, may better approximately than And of is XX%? a

X is day. significant, statistically superiority XX relevant. If are a can clinically patients an only that that's in than not we insulin And and better calculate, day hour of actually control. This claim profile to see as per you minutes HbAXc also hour the try reason therefore, with glycemic reflection the more that and we It's well. icodec and it's flat also stable why a

one actually hypoglycemia. you it's something that about hour X reflections told the "This quality people better life So control X. and take and probably the we that better And observed control I of insulin." without is of in of good a also being glycemic improved is can home say, glycemic really analysis some of the ONWARDS a on

on if that below for think very, talking proportion, superiority see standard a hypoglycemia see AXc of being same interesting I look is us interesting thing the without at to we I the just really, reached about But reached, care, even at it's the -- insulins. both very AXc icodec being AXc compared a X.XX we XX%, rate looking really X% of that. it's for at of Even for significant, X.XX to in not here, study, very actually This that what speaking see low see X very, this and in actually is the for low does rates that statistically hypoglycemia glargine. level is reflected become trial. X,XXX-patient we this hypoglycemia to

is glargine, actually approximately see to And X, is bolus nice risk What up, nothing treated piece this degludec. could of a we this ONWARDS in about see evidence a XXX weeks. do, rates before hypoglycemia, talk is to risk The see, speaking treatment. that We with years basal this of don't didn't a hypoglycemia with no we severe in insulin prolonged event this saw expected to compared level of statistical experience in again, the insulins Patients of between see no for she are of icodec safety We is We low. Karsten, hyper of to or, a of patient time, so for hurry what superiority. in to however, of insulin some trial, case, One patients degludec, but terms hypoglycemia. I So to or now is need X as in is, we events hypoglycemia compound randomized. again, there very, here simple needs for that X really, icodec see and as hypoglycemia again, XX icodec superiority. severe here X initiation. with that I we being of icodec not discussed, severe this also us be parity see see the a super expect space the significance, and very he to also X really complete a control. treated X us analogy bit versus glycemic terms that hypoglycemia, higher little with with risk

XX may You to that from recall saw in at XX program, the patient we that program per rates events degludec approximately per the year level.

hypoglycemia risk we was as If hypoglycemia actually XX so exclude we XX of statistically a to obviously, then least rates with worse is severe severe driving events experiencing not glargine. they or which, is difference. can't, One numerical the difference. or for looking But there statistically better reporting Here, at icodec are patient, patient that numerical lower of events of Severe XX at low we are super This significant. annoying still, a us. events of for obviously, XX, and hypoglycemia. severe significant compared hypoglycemia, to hypoglycemia, of there's

remain conclusion, insulin for to So overall, be very we in icodec. very, for excited icodec,

diabetes. for We starting type we X, potential to Overall, the acknowledge has but become life. also X the still have We this to insulin in quality we've the of primary have insulin risk point we hypoglycemia control, seen in have that X risk data we of insulin compared that improved superiority as X no to hypoglycemia meet to glargine. glycemic of work the with on one so established increased hypoglycemia far, that risk dedicated best and believe in hypoglycemia space. that and with have be a icodec the ONWARDS insulin increased end the study there's no that established ONWARDS to appears type X treatment diabetes ideal

initiation remind then are for This study. holds. Again, excited trial. If discussed of little Cagrisema can the what happy that. this have year the the with Phase for Looking very, And obviously, just you, maybe type really year Ozempic some I to We'll Cagrisema. that forward do obviously towards the of diabetes is the we III the bit X rest on of the U.S. exploratory. is of see the why to already out we also what rest that. for are We about approval very higher milligram. questions We I a semaglutide. call is see Obviously, results of we doses looking X.X

do our is jury we whether seen from type -- and have what bit we therefore, in Phase have will the in of II can still this We on obesity diabetes doses by And This study also semaglutide -- best that reflection competitors. patients little even a doses bit investigating maxed on also semaglutide, out investigating in a on actually a even we we little in serve higher that out type actually of also higher the diabetes, sorry, a X space. believe we reflecting potentially space. is X of the believe our

with So that, to Karsten. it. back made you, almost I

Karsten Knudsen

Martin. you, Thank

You it. almost made

concludes today's at event ADA. R&D here this So presentation

a it's move we'll I now So session. And small group. think the into Q&A

fairly a one So at we and we time, swiftly. can do then move question around

Michael, are you So first.

Michael Novod

could cautious Michael your because it starting SELECT getting into before the the is is SELECT? from normal we're of we there Or just of anything we comments data? be So question read to the to just sort timing to is close? Nordea. more expectations One -- now it to the in should that get jitters

Martin Holst Lange

excitement not realistic just about the still close even interim seen the see excited recommended data, based we've -- can We simply the we to, because, dampen you good are very, temper being obviously, that seen it. to though we actually results, study I but to of very analysis. on becoming some or want It's the about be very the want we but just And haven't analysis. interim say,

a reminder. I good think that's

Michael Novod

an session? educational So

Martin Holst Lange

Right. Richard? Exactly.

Richard Vosser

Richard Vosser, JPMorgan.

but Just and We've in in on they're resupply. tirzepatide seen on for not obviously R&D the data obesity, here diabetes. actually launching Wegovy

down Wegovy's So if scripts obviously, to that you coming the be on it could just resupply would right now, good are and going back give get latest because us up.

Karsten Knudsen

back coming to see up. Absolutely. it want We all

you've But comment did Wegovy So noted back Saxenda to days. I'm actually, what up on a sure lot we -- coming then, QX and resupply. are as compared actually scripts not these more on at to

running, manufacturing is including CMO. So our at

make this we and half we market producing And building QX, which, are purely as are is we do around the available this So again, second then inventories in as at during we year. we the we building the inventories product of said sufficient will speak. before

So no commentary. change to previous

Martin? So

Martin Parkhøi

Parkhøi from SEB. Martin

about a Just not on It's Cagrisema. the question, only Martin, it. who are excited you

a You to you If would -- previously the many in about to of Mounjaro, such doing be excited are And be will head can diabetes given make obesity, trial? with you tirzepatide. case, a would available be do said in that that that or not earlier course, it. also head that you prefer see have afraid to would diabetes of industry the in

Martin Holst Lange

has gotten to Cagrisema only I And is data their now get indication. that right obesity, given but obesity Lilly allows the on at question. good us the the same they the a they in do to diabetes have before obesity mean, that -- have dose, to I approved actually expect I So given the that say obesity. that testing level even doses have

and the should So decide. investigation, we do that's if can that clinical we just so

it We once we can we haven't be it purchase, in basically obesity, can if made do we do But Mounjaro. will and that yet. decision it, yes,

Mark Purcell

the CKD talk GIP where it component about There Has expanding about discussion Can was about providing. benefit with don't it it much, what you And tirzepatide with just window? seeing what got we you you the at your there. in this about meeting are lot GIP is talking agent? you data itself? Morgan agonist suggesting And very there's single GIP program? to what, Stanley. could therapeutic of have some Purcell, compound? Mads, it is are that Where the development. a activity a been a You Is were as Mark talk that

Martin Holst Lange

this it So in we I being to so not and and not our said, has already of I as room own our that, a quarter, II a lot actually as role, GLP-X/GIP if in trial, very, GIP, safety be very and PK soon. both is are That lot a has we clinical you readout agent, trial, we over the very, has but testing Phase believe treatment. think very combination That We will of treatment. fast information that it speak. see efficacy. single a went Phase in for I on do that so any pharmacodynamics

don't to You'll tolerability. our in look also believe from space. obesity have and we the as go, you Cagrisema to wait safety have Phase is to but space, at specifically about, until that we QX to primarily better talked efficacy still that Interesting, potential. compromise the on II because in trial way But readout with because Cagrisema,

Karsten Knudsen

from Cowen. was it Michael I think

Michael Nedelcovych

Cowen. from Nedelcovych Michael

of that could of that something muddy contemplated? you COVID-related SELECT. Or So for heard SELECT? couple the cardiovascular a consultants Do waters trials from like cardiovascular disease we've you've a is view as that risk outcomes

Martin Holst Lange

Obviously, had a Short answer this. no. DMC at looking is we've

had a Our a having positive anything semaglutide that increase be events, has with is on cardiovascular just any be plus. else. they mean, cardiovascular counted if And they current will COVID-related if counted that, assessment be a I event, cardiovascular we just risk as have they as other event. will effect of the but will

does. maybe call I asked rates of withdrawal because to he is in out studies it's our some of really due COVID-XX. the think good at saw their part I about what being Mads important in patients to competitors

about trial we're not SELECT of concerned even COVID-XX, is retention with So And excess in the our current therefore, that in either. XX.

Karsten Knudsen

Michael?

Michael Novod

from Michael Nordea. Yes.

decision insensitivity sort Phase can loss? start come the start in does you of is say type Or X from calcitonin and to AXc from And Cagrisema adding agonists? AXc? it sort III from the come to amylin, from weight Regarding additional increasing diabetes, that what terms in bar does benefit of of the the

Martin Holst Lange

is, is II why we This do So specifically know. last answer Phase study. don't the on the part, also short we

loss. speculate weight could the that it's You

II could doing in know. Phase also glucagon study. why we actually we is suppression. really speculate And You increased that glucagon sorry, the it's don't -- are reality, that And

not to Historically, monotherapies end. that superiority, glycemic that FDA the We relevant. will to percentage statistically to that will relevant been control order. have superiority have And only be looking it over show honest, is be the significant be but also tall a for X.X to at on clinically points And therefore, bar.

from And we've we control glycemic call seen short-acting exploratory to and/or data. this analogs. amylin again, until experimental seen probably You've therefore, have the

because, hear speak. a also So about honestly but we of bit theoretical I'm as little speaking, cautious I'm potentially a I lot also this. it's excitement excited,

Jesper Ilsoe

It's Jesper from Carnegie.

advocating partly on how large of to focus GLP-X do So should many instead weight scientific we penetration And we've go time? treat see arguing fully loss, or in over more you target, the its loss, and either quantify If with would that how here weight we could seen think with up coming a guidelines diabetes you days that here the doctors to treatment the ADA you guys? sessions at opens HbAXc. opportunity sales primary

Martin Holst Lange

to I okay, to interesting talking given a have I that be question. lot, And answer ask Karsten, inclined Mads it's It's that question. if, super would a I would -- been

Karsten Knudsen

I'll Mads, you your on answer. and then add start, if can

Mads Frederik Rasmussen

weight talk really recall change it's were with about a not anything Victoza, because in we direction allowed think to initially, I Look, can loss. you the

us But I'd work I a think of it's drives for live and getting I also So a X challenge to the very relevant clinically the some think diabetes. benefits to that's in still type are above about extent additional a up guessing threshold this for has that Karsten. used probably potential, leave to really To a bit welcome for little infrequently, GLP-Xs have been that. sales likely that

Karsten Knudsen

we've scripts as -- all, on then, of before is out X% first basis GLP-X shown a total GLP-Xs say, X%. I'd scripts of global to

points amplify GLP-X potentially at we So course, more we're on getting very getting a of will, benefits there. and towards only treatment journey improved some have the all, -- markets higher percentage runway see We focus long already that XX%. in pipelines

compare call XX% can or -- insulins to being so. and you at, it, So

so a was. next Richard, year. continued point It's many me, about in to class the about a it's given expansion it years. I estimate a So for think more less

Richard Vosser

Just going to the SELECT-LIFE trial.

Given said it? is be going obesity years to able to regulators just how to treatment the take So to it XX without actually the to to can disturbing move And a given be a the towards diabetes easy and retain they're weight preferred, an XX-year easy that, to not treatment a just yes, presumably, prevention data are question this recruit loss how recruit that how -- that any chronic trial, with meeting, you patients and going with treatment for just be after the you've would going on to be year then to label? the get easy patients? go allied to

Martin Holst Lange

Yes.

So can assessment. patients, they the first of if anti-obesity medication. on actually be That part into of they go all, is SELECT-LIFE,

X% be the said, go of accrue not on treatment. add on immediate treatment is trial. specifically can because just lot -- we are will based We on just But back that that that, that information these semaglutide based globally from or the less know either to another future I what a for will treatment, mean, we today level on the will patients the from and than data medication, anti-obesity on the in Karsten and patients

see that positive. we a So actually as

able to would year. but have if a but they that been discussed to very we and we at interesting They larger could actually be with of on from believe after diabetes a looking based be STEP But year have X very, STEP that seen as can dialogue. X, what we've number people, data of where without just we also similar STEP before intervention X, follow-up today, with positive. we the that SELECT-LIFE anything for talk we X, treatment, see willing stated to previous at agency be X will discuss not months We of indication. X probably and with treatment looking least previously they already found X a have Both others prevention are

Richard Vosser

has gap SELECT-LIFE. in a there So be to

Martin Holst Lange

I patients risk showed Yes. you of a with yes. being, diabetes, you treated of And go treated diabetes all their and would to risk the actually, score. in patients back Between terms stage today, the that placebo not gap on see actually on semaglutide and basically, developing that data patients based

Karsten Knudsen

back. all go the We the way Yes. to

Unidentified Analyst

with [Indiscernible] Guggenheim.

due from So a baseline similar are MACE we those and Wegovy analysis saw expect parameters? would differential based effect and if that Curious there's data you the a gender on planning you SELECT a points end for effect the if U.S. to both differential guys body weight. on

Martin Holst Lange

is really differences. are them The good question be is to whether to these first significant they look clinically relevant, statistical outcomes The we these always statistically or you answer whether see question. them -- though can to they and we statistically a significance. have find know yes, not the It's at often find not, even you, More are of relevance. large-scale than in clinical that trials,

Karsten Knudsen

Okay. Martin?

Martin Parkhøi

SEB . Martin Parkhøi,

we looking on I already. the you doses was the probably it for not you the But Just actual most have on it actually it are analog, on then And investigating? then on said secondly, slide, are you improvement -- is think why it Or are looking is Or injectable you're for? higher HbAXc? the what because many the know which talking dose about how the is, it so will say you I weight?

Martin Holst Lange

that weight. for Obviously, be be regulatory So is in obviously, for AXc, And also looking weight. diabetes, be looking still we for and obesity, in requirement. looking we'll we'll will the

So it's the same.

discussing, Specifically, are we've higher for trial, right on And be investigating -- what we'll the couple the are of -- doses. diabetes trial of do, higher approach a doses in seen that discussing in Phase in the obviously, others also II we should be towards what line we obesity.

Karsten Knudsen

Great.

there. as as was we that clear can So get towards

answer Purcell. think we then I Mark

Mark Purcell

SELECT very You on some TEENS? ask providing in just I were helpful of terms numbers. Can

mortality either were at SUSTAIN And could ratio us X.X a targeting those expect you benefit, after end the kind the asking would hand XX% of the MACE death, And that, X, the what hazard much look XX%? help the it understand benefit small and obviously, if all-cause strong you goes of side. but with benefit. X pretty other MACE end years, points at you reason if study is you're hand I'm saw you terms in a of why X.X, in yes, very So on CV

with impact governments I'm So harder points X-point how the that and to if it to comes when payers trying understand than were you that the discussions early, stop just your end to impacts even MACE.

Martin Holst Lange

And continuing end terms not remind in mortality XX,XXX a a different the you X, power. we little that MACE, worse, compared quite of looking the bit you for what the of of also patients, maybe asked just that lower, on also trial. end that that power know select subsegments mortality, we'll but and PIONEER also, so point, have is, substantially you on But bit all-cause goes actually as full the the becomes I'll secondary based So it thing interesting have some we about substantially X/X picture power or cardiovascular better of events Maybe when by speaking at to the does lower. the the we saying both about better for risk, increase the study little a to saw and without far, in of points. talk primary

of but hopeful more or of the primary both will focus pan the for that But the our will actually discussion. is payer some that are positively. we be point, MACE regulatory secondary also sufficient on and out subcomponents So than end

Mark Purcell

What expect level quantity? should we that [indiscernible]

Martin Holst Lange

would we've be MI. to on equal that probably of But most and sort something, see see expect that cardiovascular distribution and on So -- that, between my then analogs. We'll X most and Mads you'll I seen of with knee-jerk reaction also would an the can see speculate stroke see, death.

Mads Frederik Rasmussen

I MACE do that to should X-point across, similar that a larger programs. the benefit mean, Yes. We actually confirm the almost have GLP-X be meta-analysis

So course, ones so of that few events, mean, look be there have with But will reported the far. around XX% if I you at differences.

Karsten Knudsen

to Martin back Parkhøi. Moving

Martin Parkhøi

Yes.

relative are treatment and -- not Just on commit X will on that. stay for the all people maybe on nice months. these staying all treatment gains year tenure that people X go. and even to Saxenda, trials health at that And And on on X you said yourself, you

treatment benefits what make year? and you promote people will do a do sky the if these what a actually in within much stop sure So all actually So longer you pie with usage? treat -- to because it's will

Martin Holst Lange

that of I see the substantial. actually first Saxenda, SELECT, It's better a of life With loss. weight data continuous the quality weight improvement all, dialogue, most also the of have to patients generate this loss, in lot on people So sorry, is body Wegovy that comes we increased X% in more even The -- think of between substantial. we obviously data. cannot Saxenda longer obviously, down are A difference Wegovy, the And With mirror. and driving treatment. is to including quite off. we the stay to can see

My weight time loss we for pragmatically in drug Saxenda on I what it's bet sustained substantially and and see trials will think you the mirror, clinical for have on it's STEP rate weight I continued to loss in they substantially that's if within throughout, speculate. actually stay retention than Wegovy, what that early the look when data the longer and the because see too trials. the trials. will be trial, better we saw saw stay at our mean, we we time a patients the speaking, see

But Wegovy not that the was discuss Saxenda. data. is I afraid for So to say I or higher when Saxenda have for will substantially am we be have I stays than to hard we on believe mean, it

Karsten Knudsen

syndrome. the experiencing understanding entire different weight to on year Martin's ADA focus just of long this Well, on completely I adding think and cardiometabolic in risk is treating just a comments, at what terms we're the then as and

small becoming decisions less then that is prevailing, population individual as understanding about a if think focusing obesity. to broader why it's to in point Yes. understanding Michael? primary treat I obesity on of a So treatment a

Michael Nedelcovych

that sort sort had the the appetite. Markets more that patient Saxenda? adherence psychological effect kind you of of and versus measurable? peripheral know if effect? cravings of all at Capital the of at you inform to reducing Wegovy, maintaining that One is just on Do a Wegovy that And with described -- effect? patients Day higher controlling your that Is that's drug that is does psychological with Or

Martin Holst Lange

if trials conducted want Mads has Mads. this. to look to don't know X actually I into clinical you talk, pharmacology

Mads Frederik Rasmussen

Yes.

regulation, and I hunger, than comparisons, satiety, whether in very Wegovy a mean, done aspects the haven't be effect done mean, mean, Wegovy Saxenda. greater both also we appetite with there that but that cravings. I we So similar of I saw trials Saxenda is direct with demonstrate, substantially different with And but we've

Michael Nedelcovych

is it... that think [indiscernible] you Do or

Mads Frederik Rasmussen

we that too least -- hear it not what of I that's ease go that. the power definitely a when that control of is the mean, At something away, to much has cravings lifting that anecdotally, eating

Karsten Knudsen

Mark?

Mark Purcell

treated were icodec trial question? help with the you you of terms you Obviously, do a icodec, what here. are an of would that complex you potentially it's how ask solve those, I before otherwise? can differently? it how do diabetes XX very in And problem understand you or so? file is in to And you you to additional just then trials us the do X Can X, if But how that ONWARDS severe redesign to Firstly, would design terms simple hypos on in run inclined to indication? you saw trials type

Martin Holst Lange

Yes.

and I often we juice that mean, overreporting to And do rather than into us sometimes a to look not, hypoglycemia it's adjudicate So not the to than of sometimes someone know we severe obviously, treat And it. up it. severe it's get more we even how the more severe inclination up studies, to of some else patients In there is glass hypoglycemia. hypoglycemia. of get because

both what other assistance. but and compared icodec no glargine What obviously hypoglycemia are quality truly treatment them is hypoglycemia, severe there's also X we in and the the patient the in associated to in third-party of difference needs seen of studies. can that we've Some severe a the to ONWARDS as see with

order that events, no study hypoglycemia, with also actually not again, in again, a to X taking -- a that new a dialogue we the into what right necessarily need So We appeared level We're really to consideration don't was there XX that it reporting flags have subjective, all that and were patient, to seen think obviously low given the we've true FDA. be a we as preapproval have hypoglycemia. severe discussing That's is filing. one now, to do there. previously. And raised -- severe rate compared this

a lower next have the think we space data to is this did I of time that complicated. the do, to and need adjustment, to X-week fair say attractive think is be in problem after will state. say, it's But ONWARDS the And that sorry, because weeks to you obviously perceived we a half-life half-life. as means both we with to because that of every than generate that can have safe more the an session, adjustments efficacious. that frequency we steady technicalities X do it's dose done dose what you offering -- in What will discuss in probably level X-week have we be And we a X. therefore, you this

Karsten Knudsen

Michael?

Michael Novod

To oral Alzheimer's. sema in Yes.

couple you manufacturing a so data bulk the [indiscernible] terms equipped us, should the And getting on you a be of can well remind outcome in if of positive for you're would be just are there years. filing in the So semaglutide case, [indiscernible] situation. possible that's first

Martin Holst Lange

and Karsten for for question R&D. a actually was not That

Karsten Knudsen

before, for oral lot behind we as we type have a based a registries. high-reward sema Alzheimer's, And characterize we of therefore, -- potential on this evidence kind trial. high-risk, backdrop the a So as of of in benefit discussed

is As trial. whether demand, It depends is specific I'd capacity sufficient. on to on point then depends the capacity, on clinical manufacturing demand say, from starting the and the manufacturing the results

this. assumptions So put there are into a of lot

rate coming API being old outcome footprint is we as Clayton, So the our Carolina to speak currently, factory huge. coming I can in there. say over we additive North And have online quarters a the

have of We ample tableting capacity.

are say So overall, expanding significantly. I would we

We also as we have expansion a Denmark big in place speak. taking

So also, being capacity. to our very overall additive API

to would is DKK of I guidance CapEx that of say see XX to limits billion, that historic we're are a you Capital the big chunk as linked CapEx. So highs also no on billion DKK Day, cannot saw XX and API And But that I capacity. to running manufacturing. guarantee Markets there our in you

and, more [indiscernible]. significantly oral capacity additional in general, So semaglutide for for capacity

Martin Holst Lange

but key hear from of lot of a lot a others can families I maybe that. leaders, that -- subcutaneous from also hear might if on prefer we We opinion And patients add offering.

from use we oral secure space. an both perspective, from perspective, also a provides subcutaneous flexibility. Alzheimer's R&D can but offering that the actually, do in we that, to the intend the So And optionality and capacity

moving see the will you take that's forward. think approach also I us

Karsten Knudsen

manufacturing what trials And capacity. formulations, improve formulation is for on furthermore R&D also is viability contributing tablet will with oral which the on consequently additional and

Martin Holst Lange

R&D. Got to love

Karsten Knudsen

Exactly.

Jesper last Carnegie. that now one So time to question. from goes we And have for

Jesper Ilsoe

a diabetes, Just that are against the obesity, question all on icodec, products have you head-to-head lined also you up, going Lilly.

months it at say, is X how seems So make, earlier when filing look X, you potential to headroom make your market. to you the strategy voucher sense vouchers to can use? use Because when

vouchers forward. So just in at look consideration on how going you

Mads Frederik Rasmussen

tool have say, speed of as vouchers, then, value from price you so the and Well, the yields competitive phenomenon. can and getting you launch this And the the -- pure on. U.S. X put compare setting. is you I market. to of place in is rather bake to financial have a simplistic. say tune It terms of product the of in the in And lifetime course, you voucher it's dynamics, FDA, say, readiness readiness, of of months would manufacturing to to a so is by the And to

in always, use going couple tools for our proper factors the But I a one toolbox So occasions there in lot ready of use that have good specific project. circumstances. to don't of vouchers it. it's it's the are it think but are We of we into we now a a on shown again, we've if

Karsten Knudsen

Thank so All at for activity right. energy investor much for this R&D and ADA. you session attending and great the

we And I this social the in gathering for the session. attending a concludes ones next small person, So have door. think

much. so So thank you

Novo Nordisk A/S (NVO) 6 Jun 222022 Q2 Earnings call transcript