Hello all,
I recorded an update last week (also available on iTunes, Spotify) and will do another one tomorrow morning so please send through any questions. I’m experimenting moving over to Substack as Mailchimp is increasingly buggy, and Substack is a comparative delight to write on. Also it’s free. Feedback welcome.
Earlier this week there was more news from Novo Nordisk.
An independent committee halted a trial testing semaglutide (with brand names Ozempic, Wegovy, and Rybelsus for the oral version) in kidney disease for the best possible reason: it was judged so effective there was no need to continue.
Specifically, this was testing semaglutide vs a placebo in the progression of renal impairment in people with type 2 diabetes and chronic kidney disease.
This is shortly after another study showed semaglutide cut cardiovascular events by 20% in obese and overweight patients.
These findings suggest the benefits of these drugs may extend well beyond weight loss, making an increasingly compelling case for broader application across the general population.
This has rippled through the healthcare space, causing what looks increasingly like a panic. Companies like Dexcom, which offers continuous glucose monitoring, have been cut in half since July.
Dexcom
Eli Lilly is testing their best-selling GLP-1 candidate Mounjaro in sleep apnoea, with a trial readout expected in March next year. Intriguing evidence from earlier GLP-1 agonists was positive, albeit in small trials. The text below comes from a paper discussing liraglutide (marketed as Saxenda) on Obstructive Sleep Apnoea (OSA).
Resmed - note how well it traded through 2022. GLP-1 agonists have been around for well over a decade, but the sell-off only began in July.
Timestamps
0:21 – Update on the biotech industry and GLP-1 drugs (note: this was a week ago)
11:47 – What we learned from a Microsoft executive on semiconductors, quantum computing and AI
19:39 – What risk models are saying
22:35 – All roads in semiconductors lead to Taiwan Semiconductor
27:04 – Paypal and fintech
30:15 – Sea Ltd
34:35 – Latest figures on bond market and inflation
Finally, I know we have many readers in Israel, and many more with friends and family there. The ultraviolent attacks last week shocked us, along with the rest of the civilized world. Our thoughts are with you and you have our support.
Michael
