00:00When I'm looking at the earnings report, I can see that they're missing on almost every single number in there.
00:05They're missing analyst estimates on EBIT, and this is the second quarter in a row they're doing that.
00:09So they're also issuing this warning that they're going to have lower sales than previously anticipated.
00:14So overall, we're just looking at some of the same old, weak stories that we've seen for the last few quarters for Novo Nordisk.
00:23The same old, weak story. That's pretty damning, Sarah.
00:27The competition is clearly there with Eli Lilly.
00:30How much of this is about the competitive threat versus demand in key markets in the U.S.?
00:35And is there an opportunity?
00:38If Novo gets this deal across the line with Metzera and they're bidding fiercely alongside Pfizer and the clock is ticking, does that put a floor under things for Novo?
00:49Those are really, really good questions.
00:51I think at the moment, we're just looking at this bidding war.
00:54We're asking questions. Can they win? Will they get it through the FTC?
00:58Why are they doing it?
00:59Is it really because they want Metzera badly because it fits into the pipeline or is it also to take Pfizer out of the competition?
01:05Some of the things I'm hearing a lot from analysts at the moment.
01:09We have a media call later today. There's also some interviews with the new CEO.
01:13And this is the first quarter where he is CEO, Mike Duster.
01:16So all these questions will undoubtedly be some of the main focus for him today.
01:20This is a company where we're looking at Novo Nordisk.
01:23Over the last six months, they ousted their CEO.
01:25They have a new CEO that's come in quite aggressive, all guns blazing.
01:29They had a major reshuffle of the board.
01:31They laid off 9,000 people.
01:33And now they're also trying to get into a bidding war with Pfizer.
01:36So some people are worrying.
01:37They're trying too much too fast and may break something along the way.
01:40Other people are saying this was necessary.
01:42Novo really needed that shakeup to become competitive again.
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