Tim Anderson: Thank you. You showed a slide, Zepbound has NBRx share market of 57% at end of Q1. That makes it pretty clear that the strongest drug wins. So on that topic, just your latest thinking on upcoming competitor readouts and how they’ll stack up to Zepbound on metrics of weight loss and blood sugar. So specifically, CagriSema from Novo and Amgen’s 133, I know it’s just the best guess, but it’s what we get asked to do. Thank you.
Dave Ricks: Thanks, Tim. Okay. I’ll maybe hand it Dan for some comments.
Dan Skovronsky: Yes, sure, Tim. It’s probably more of your job than ours to speculate on competitor readouts but I’ll take a stab at it since you asked. I think on AMG 133, we’ve just seen really a small amount of data. So probably anything is possible and like you will be interested to see their results. Of course, there’s arguments that can be heard about GIP agonism versus antagonism. We’ve placed our bets, and we like the data we got with GIP agonism. On CagriSema, of course, adding more agonism on different pathways on top of GLP-1 is a good idea. That’s what we have with tirzepatide, as a dual agonist. So CagriSema makes sense. And you’ll note that we’ve advanced our amylin agonist to Phase 2. Tirzepatide already is a dual agonist – tirzepatide already a triple agonist.
There’s probably more we could do here at Lilly. I think across our portfolio, in Phase 1 and Phase 2, we have nine assets that are marked for diabetes or obesity. Many of them could lead to additive weight loss on top of established mechanisms plus two more in Phase 3, of course. So we have a strong portfolio here I think tirzepatide still has unsurpassed efficacy at weight loss, but we’re preparing for our next generation assets as well.
Dave Ricks: Thanks, Dan. Paul, next question.
Operator: The next question will be from Terence Flynn from Morgan Stanley. Terence your line is live.
Terence Flynn: Great. Congrats on all the progress. Just was wondering if you can tell us if the IQVIA prescription data is an accurate representation of tirzepatide volumes or if it’s been underrepresented at all given LillyDirect and what you know about how much is flowing through that channel? And if it is underrepresented, can you help quantify any delta for us. Thank you.
Dave Ricks: Thanks for the question, Terence. I’ll hand to Patrik for commentary on IQVIA and LillyDirect.
Patrik Jonsson: Thanks very much, Terence. When it comes to LillyDirect, I think we are very pleased with the start. And when we look at the utilization by consumers, it’s gaining traction by weeks here. If we look at the TRx data of Q1, particularly for Zepbound, it’s relatively low volume that goes through LillyDirect, slightly higher in terms of NBRx. It’s our understanding that what goes through LillyDirect is not by default captured by IQVIA. But IQVIA has a methodology in place to estimate what goes through LillyDirect as well.
Dave Ricks: Thank you, Patrik. Paul, next question.
Operator: The next question will be from Akash Tewari from Jefferies. Akash your line is live.
Akash Tewari: Thanks so much. So your team presented data on a monotherapy GIP agonist at ADA last year, but it looks like you are moving the amylin into Phase 2. Can you talk about why amylin might be preferred versus GIP as a maintenance regimen for obesity? And how your product could defer versus others when it comes to half-life and preferential agonism versus calcitonin and amylin? Thanks.
Dave Ricks: Thank you, Akash. I’ll hand to Dan for commentary on our amylin.
Dan Skovronsky: Yes, there are a lot of good questions in there. Thanks for following the science so closely. So on the GIP, the long-acting molecule I think primarily in that experiment, we were excited to show the benefits of isolated GIP agonism, just to answer some mechanism of action questions around tirzepatide. But as you point out, there’s potential for that molecule for other indications or as a monotherapy or combination with other mechanisms. But of course, since tirzepatide already includes GIP agonism, we’re also excited to explore other mechanisms. So that’s where the [indiscernible] which is one of nine different mechanisms, as I said a moment ago that we’re exploring the long-acting amylin move forward to Phase 2.
That has potential perhaps as a combination therapy, perhaps as a maintenance therapy, perhaps as a monotherapy, there’s a lot to explore. It’s still very early as it is for all of our mechanisms. So we’ll keep investing, and as we have data to share, we’ll do that.
Dave Ricks: Thanks, Dan. Paul, next question.
Operator: The next question will be from Trung Huynh from UBS. Trung, your line is live.
Trung Huynh: Yes. Hi. Thanks for my question. Just back on CMS recently broadening its coverage for Wegovy for certain heart conditions, I appreciate you mentioned that Teva is the main goal. But do you expect Zepbound to get add to CMS in a similar way as Wegovy? And when could this happen? Could this be after the heart failure data in 3Q? Or do we have to wait for the CVOT data? Thanks very much.
Dave Ricks: Thanks, Trung. I’ll let Patrik respond.
Patrik Jonsson: Thanks, Trung. Now based upon what CMS stated early April, we actually expect to get obstructive sleep apnea for Zepbound covered by CMS and Medicare at the time of launch. And the next one then would be Zepbound assuming a positive readout and approval. And the third one would be the MMO indication that’s the sequence of our plans, assuming everything goes according to plan and we get the approval for both.
Joe Fletcher: Thanks, Patrick. Paul, next question.
Operator: The next question will be from Geoff Meacham from Bank of America. Geoff your line is live.
Geoff Meacham: Good morning guys. Thanks for the question. You guys have been asked on this before, I’m sure, but can you just review the rationale in utilizing the KwikPen just for outside the U.S. markets like you, but I wasn’t sure why this couldn’t apply to the U.S. market and if this also could be a means to relieve capacity looking forward? Thank you.
Joe Fletcher: Thanks, Geoff, for the question. Paul, Dave, you want to weigh in?
Dave Ricks: Yes. Sure. Anyway [ph], I can add to this. As we think we’ve said on several calls now, our goal is to pursue all of the above, basically as it relates to supply options, recognizing the tremendous demand and unmet need and the constraints that exist in scaling the supply chain. So KwikPen uses existing assets, so there was less time lag. We see this first in the UK and now in Europe as a way to meet the needs of those patients. But we haven’t ruled it out in other jurisdictions. And so we’ll continue to look at every option we can to meet the needs of patients with obesity and overweight as well as with diabetes.
Joe Fletcher: Thanks, Dave. Paul, next question.
Operator: The next question is from Kerry Holford from Berenberg. Kerry, your line is live.
