Katie Greifeld

Mike, great to have you with us.

Just to set the scene here, when it comes to the U.S.

market, you've been losing share to your rival, Eli Lilly, for a couple years now.

But with this approval, you have an important first mover advantage when it comes to oral GLP-1s.

Given that you expect to start selling the pill version of Wegovy in January, whereas Eli Lilly isn't due on the market until March, how do you plan to make the most of this head start?

Well, moving forward, I mean, beyond just these first few months, after Eli Lilly does have their pill on the market, how do you plan to compete?

What is your strategy there, given my understanding is that there's likely going to be no restrictions when it comes to food, when it comes to drinks around Lilly's version?

Let's talk about how you're going to sell it.

Through what channels will you sell This Way Govipil?

And will all of those channels be available at launch?

Well, to that point that it's going to be widely available, let's talk about supply.

I know that you've already started production.

How confident are you that you're going to be able to meet all of that demand at launch, given, of course, the supply challenges that you've been through in the past?

I'm curious how you see this market evolving, whether you think that having this pill version available will expand the total addressable market, the total number of patients that you can reach, or whether or not it might cannibalize the injectables that you're already serving.

And of course, we have to talk about pricing and how that plays into the political picture.

Many drug makers, yourself included, have made pricing deals with the Trump administration.

And given that those deals have already been made, what additional political hurdles do you see, if any, in 2026?

And, Mike, before I let you go, I have to ask you about M&A.

Of course, you had that high-profile bidding war with Pfizer over Metzera.

Pfizer ultimately came out on top.