Novo Nordisk Conference Call Summary

We have a bunch of products, and we are growing our pipeline, but all that matters is our GLP-1 products and for a good reason; that’s where all of our growth is coming. Our studies show increasing evidence that once you start taking GLP-1, you will never stop, so we see a long period of demand outpacing supply. In fact, new competition from Eli Lilly (LLY) can’t even touch this supply/demand imbalance. Therefore, we are going to increase supply in 2024, but we won’t meet demand, so prices aren’t coming down anytime soon. The U.S. is hooked, and we are going after the rest of the world too.