00:00Of course we were expecting approval for Lily's product. We're proud to have pioneered this category both with the injectable
00:08form being the first to introduce Wagovi injectable back in 2021 and then being the first to introduce an oral
00:17pill form version of Wagovi.
00:19So we're excited about our benefits for consumers that are in search of medicine for weight loss. The Wagovi pill
00:29is highly efficacious. It is 17% weight loss observed with the pill, which is injectable type efficacy. Wagovi is
00:40the only peptide in a pill.
00:43The competitive product is not ZEP bound in a pill. And the tolerability profile is really strong. Wagovi pill, we
00:53see about 2% of patients discontinued due to adverse events.
00:58So we're exceedingly proud to have pioneered this category and look forward to sustaining the trajectory that we've seen since
01:05launch with Wagovi pill.
01:07Well, what we've seen so far clearly strong demand. So I just wonder how you keep that momentum going, you
01:14know, especially when it comes to your marketing efforts, for example, how aggressive do you plan to be there?
01:19Yeah, we'll continue to communicate our strengths, you know, our benefits. That's efficacy, tolerability, simplicity in terms of the administration.
01:28It's just a simple sip and go. Sip with a glass of water in the morning, wait 30 minutes before
01:35you eat. We're focused on use, users and usage.
01:40The use that we've seen since launch is unprecedented in terms of the volume and receptivity from patients for Wagovi
01:49pill.
01:49On the user standpoint, we've seen more prescribers come over to Wagovi as a consequence of the pill format and
01:58more patients.
01:59A lot of the patients experiencing Wagovi pill had not been on a GLP-1 previously.
02:05And then on the usage part, that's the shape of the use. We're focused on reimbursed volume and self-pay
02:12volume.
02:13We're focused on how patients move through the titratable doses up to the maximum dose of 25 milligrams.
02:21And then also focused on the duration of their usage, the adherence.
02:29We want patients to be able to start with Wagovi and stay with Wagovi, which is one of the reasons
02:34we announced yesterday the subscription model
02:38that encourages patients to stay on therapy over time and realize significant savings.
02:45Consumers continue to choose medicines based on efficacy.
02:49We have fantastic efficacy with Wagovi pill.
02:52Tolerability, fantastic tolerability.
02:55And we've made the product affordable, accessible and predictable in terms of their out-of-pocket spend.
03:01Well, let's talk a little bit about prices here because Lily's pill, the lowest doses will cost $149 a month
03:10for patients who are paying in cash.
03:12And my understanding is that your pill has pretty much exactly the same pricing there.
03:18So I wonder if that's a lever that you can pull.
03:20Do you have any plans or any thoughts about lowering prices from here?
03:24Well, first of all, I'd say imitation is the best form of flattery.
03:29So interesting that they've matched our initial pricing points.
03:34But again, the subscription model is unique.
03:37It's a first of its kind in the industry.
03:40The ability to sign up for a three-month, a six-month, or a 12-month subscription and have appreciable
03:46savings over that time period.
03:48For patients on the injectable form, if they sign up for a 12-month subscription, they can save up to
03:55$1,200 a year.
03:57And this is significant savings for a category that has become more consumer-centric, as we've seen.
04:05Well, the subscription model is really interesting, especially when you combine it with, you know, Novo making peace.
04:10With HIMSS, obviously you work with other telehealth platforms as well.
04:14And when it comes to the cash pay consumer, which it seems like, again, those sort of models and partnerships
04:21would be aiming for,
04:22I mean, what potential are there for other avenues, other innovative ways to reach them?
04:28Yeah, thank you for the question.
04:30Our initial wave for the subscription model will go through Roe, Weight Watchers, and Life MD, followed in a second
04:37wave by HIMSS & HERS, Sesame, and others.
04:40And ultimately, we'll look to execute this dynamic pricing model through our own Novocare pharmacy as well.
04:48So we see it expanding, to your question.
04:51This is a unique situation with this category.
04:55Traditionally, the patient, the consumer, is the end user of a medicine.
05:01But generally, a practitioner, a health care provider, would be the decision maker, and the PBM or health plan would
05:08be the funder, the budget holder.
05:10In this category, the consumer is uniquely the end user, the budget holder, and the decision maker.
05:19And our approach with a subscription model, with limited-time offers, to encourage affordability and predictability,
05:27is really meeting the consumer where they are with this category.
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