In this interview, Eli Lilly CEO Dave Ricks discusses the journey and development of GLP-1 drugs, including the company's first GLP-1 drug in 2006 and the later development of terzapatide (Manjaro). He addresses the challenges of counterfeit medicines, particularly in China, and the company's commitment to reducing the pricing of their drugs while balancing the need for continued R&D. Ricks also talks about capital allocation strategies, including investing in organic R&D, building out the supply chain, and acquiring external innovation. The conversation touches on the state of biotech funding, the impact of NIH funding cuts, and the role of PBMs in healthcare. Finally, Ricks shares his views on the future of medicine, including the potential for GLP-1 drugs to address mental health conditions and the need for a reformed food system.
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