00:00Let's talk first about how 2025 was the first year you guys saw profitability.
00:07What is the next milestone for you?
00:11Sure. Well, it's great to be part of things.
00:14It's exciting here at the JPMorgan conference.
00:17The weather's nice, the elevators are crowded, and the mood is very positive.
00:23For our company, the exciting things for this year, I think, are really moving forward.
00:28Our three foundational medicines in CLL, which I think are game changing.
00:33And we've announced some advances in our solid tumor pipeline, where we've moved five assets into late stage clinical development.
00:42So these are the exciting things for us this year.
00:46How are you looking to leverage the roots that you have in the Chinese market to build up this business?
00:58Look, I think that we're a company where about 12,000 people were very global.
01:05And we have had relationships with a number of companies in the U.S. and in Europe and in China.
01:14Right now, there's a great interest in some of the companies in China and doing business development deals there.
01:22You know, here at this meeting, it's a huge hub for BD.
01:25So we're meeting with all sorts of companies from all over the world and trying to find the best medicines wherever they may come from to potentially partner with and combine with our medicines to really try to fight cancer.
01:40Of course, relations between the U.S. and China aren't terrific at the moment.
01:44How do you see, if at all, U.S.-China relations impacting your business?
01:49And how should firms such as yourself navigate the current environment?
01:55Yeah, you know, look, I think that we're trying to fight cancer.
01:59And we understand, you know, countries, you know, often are trying to pursue the things that are in their best interest.
02:07We get that.
02:08But fundamentally, to us, cancer is something that exists everywhere.
02:13We do think, you know, hopefully everyone can get together and align to set the right policy, the right rules, the right guardrails so that we can be very successful in fighting cancer.
02:25When you develop a medicine, there's a lot of upfront investment in doing that to make sure that it's safe, that it's efficacious, that it's really going to help patients.
02:34And once that happens, we hope that there can continue to be a really productive global framework to get that medicine, you know, constructively across the globe everywhere.
02:47You're in a very unique position.
02:48You've got listings in the U.S., Hong Kong, Shanghai as well.
02:52How do you view each of those capital markets right now?
02:57The capital markets have been, you know, kind to us.
03:00So we view them all very, very favorably.
03:02You know, I think we as a company that has medicine and clinical trials that are running everywhere across the globe really do want to be able to access capital from everywhere and for people to know and understand our company.
03:19And, you know, the markets have been kind to us this year.
03:23So we're very happy with them.
03:25You spoke earlier about uniting for, I guess, businesses into this ecosystem with the right rules, the right guardrails.
03:35I wonder what is your assessment of the Chinese ecosystem in terms of advantages for costs for development timelines?
03:42You know, look, I think that in terms of the ecosystem in general, there have been a number of things that have happened very positively over the last decade in China to help create revenue for innovative products and get them to more patients.
04:02And I think that's been, you know, a new feature and it's been very helpful to, you know, all companies that are developing medicines.
04:11So I think that's been great policy from that perspective in terms of I may have lost the other half of the question, but I think that's a that's a really good and powerful thing, which I think has been positive for the industry.
04:25What is your sense of China, perhaps taking leadership of the oncology industry compared to other global players?
04:37Oh, oncology is a really, really formidable disease and a formidable foe.
04:44And I think that we're needing everyone everywhere across the world to work together.
04:51I also think that, you know, the real challenge is really running these very broad global clinical trials that enroll a lot of patients in Europe, in Latin America, in the Middle East, in the United States, in China, Japan, Korea, Australia.
05:06And from that perspective, it really takes a global infrastructure.
05:10It takes a global effort to understand, are these medicines going to be efficacious?
05:15Are they going to be broadly efficacious and safe in patients across the world?
05:19And that's what we're driving to do.
05:21John, you know, the JPMorgan Healthcare Conference has been described as a hot bid for deal making.
05:32Is that something in the works for your company?
05:36Oh, we're, you know, we're meeting all sorts of companies, hoping that there can be, you know, great situations where, you know, two organizations working together can really have huge impact for patients.
05:48So lots of those meetings are happening.
05:51I hope that it comes to fruition and some things can happen.
05:55There's a ton of positivity here, as I said, and great weather and, you know, frenetic motion.
06:01At the same time, I think people are saying we'd like to see more deals.
06:05We'd like to see more deals.
06:06So we'll see what happens as the week plays out.
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