Guidance & Assumptions
Q: What drives the full‐year outlook?
A: Management explained that despite lower-than-planned GLP-1 penetration from compounding, they expect a strong rebound in H2 driven by initiatives like telehealth, the CVS partnership, and robust International Operations, underpinning guidance of 13–21% sales growth. " "

Compounding Enforcement
Q: How will you curb unlawful compounding?
A: The team stressed that FDA enforcement—expected on May 22—and strict action against illegal compounding, combined with expanded real Wegovy offerings via telehealth and pharmacy channels, are central to their strategy. "

Competitive Dynamics
Q: How will Mounjaro affect Ozempic?
A: Management reassured that Ozempic’s established market leadership, solid reputation, and enhanced supply will help it weather competition from Mounjaro, especially in International Operations. "

CVS Partnership & Oral Sema
Q: Do CVS decisions limit patient options and what’s the oral potential?
A: Leadership views the CVS collaboration as a win that expands access without exclusivity, while noting that the oral semaglutide opportunity addresses a niche segment for patients preferring a pill over injections. "

Political Pricing Risk
Q: Is there a risk of severe GLP-1 price cuts?
A: The executives indicated that, given their exposure is already largely in regulated segments and under active IRA negotiations, any additional price pressure from political forces is expected to be limited. "

Pipeline Progress
Q: When does Phase III amycretin start?
A: They expect to kick off the Phase III program in Q1 next year for both oral and subcutaneous formulations, once the upcoming FDA review provides clarity. "

Inventory & Transition Rates
Q: How long will compounded inventory last and what’s the shift rate?
A: Management noted that subscription periods vary from 3 to 12 months, anticipating that many patients will transition to branded treatments as enforcement begins to cut off illegal compounding. "

Ozempic Outlook
Q: What changes are expected for Ozempic in H2?
A: Despite some slowdown from compounding in diabetes, a renewed focus on maintaining higher doses and extended treatment duration is expected to sustain Ozempic’s market dominance. "

Pricing Sensitivity
Q: How does branded pricing compare to compounded versions?
A: Branded Wegovy is priced at about $499 a month—higher than compounded alternatives—but enhanced insurance coverage and patient education should help offset the price difference. "

Patient Retention
Q: What is the current treatment stay time?
A: Management reported that the average patient stay is around 7.4 months and is gradually increasing as the benefits of consistent treatment become more apparent. "

Commercial Messaging
Q: Why does messaging appear disconnected?
A: Leaders acknowledged that substantial compounded volumes obscure true prescription trends, but reiterated that ongoing robust commercial efforts are in place to capture the market's potential. "

Orforglipron Data Impact
Q: What is the impact of orforglipron data on diabetes?
A: While the data are under review, management emphasized that the extensive real-world experience with Ozempic continues to support its competitive position without significant disruption. "