Latest / The David Rubenstein Show / Alex Gorsky

Transcript

Alex Gorsky · The David Rubenstein Show

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  Speaker 1: This is Bloomberg Best. Bloomberg Best is about the insight
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  Speaker 1: seven hundred journalists and endalysts in more than a hundred
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  Speaker 1: twenty countries around the world. I'm at Baxter and I'm
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  Speaker 1: Denise Pellegrini on this weekend edition of Bloomberg Best. By
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  Speaker 1: late this year, early next year, we should be in
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  Speaker 1: a position to begin reviews with regulatory authorities. Johnson and
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  Speaker 1: Johnson on the race for a COVID nineteen vaccine. It's
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  Speaker 1: going to be very important as we think about, you know,
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  Speaker 1: returning to a new kind of normal. CEO Alex Skorski says,
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  Speaker 1: resistance to a vaccine will paid. I had a bicycling
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  Speaker 1: accident where I had to get some stitches in my hand,
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  Speaker 1: and of course when I went to the local hospital,
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  Speaker 1: I made sure that they were our teachers. And the
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  Speaker 1: importance of product loyalty when you're CEO, all this and
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  Speaker 1: more coming up in the next hour of Bloomberg Best
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  Speaker 1: And of course, the race for a cure or a
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  Speaker 1: vaccine for COVID nineteen is one of the biggest stories
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  Speaker 1: we've been all over here at Bloomberg. Yeah, exactly, the
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  Speaker 1: NAT We've had a chance to hear from the chairman
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  Speaker 1: and CEO of Johnson and Johnson all about it, And
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  Speaker 1: David Rubinstein spoke to Alex Gorsky on the David Rubinstein
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  Speaker 1: Show Peer to peer conversations about it, And David begins
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  Speaker 1: here by asking Gorsky about efforts to beat the pandemic. Now,
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  Speaker 1: some people say the most commonly spoken words in the
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  Speaker 1: English language today are can you hear me? Because of
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  Speaker 1: the zoom phenomenon. But I assume in your case, the
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  Speaker 1: most commonly asked question of you is when is the
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  Speaker 1: vaccine coming? So you must get asked this about every
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  Speaker 1: hour on the hour. So why don't I just do
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  Speaker 1: this as well? When is your vaccine coming? Well, like,
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  Speaker 1: it's usually about every fifteen minutes actually that I get
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  Speaker 1: asked that, and uh, And let me start by saying
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  Speaker 1: I could not be more proud of the incredible work
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  Speaker 1: that our scientists and our engineers have been doing over
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  Speaker 1: the past nine months to to put us into the
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  Speaker 1: position that we are today with a vaccine. I mean
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  Speaker 1: to think that, you know, what would ordinarily take five
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  Speaker 1: or seven years, we've been able to do in you know,
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  Speaker 1: a matter of months. Is quite remarkable. And uh, you know,
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  Speaker 1: without the heart their hard work and dedication. You know,
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  Speaker 1: probably forty thousand of our hundred fifty employees, mostly in
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  Speaker 1: our factories and facilities and our laboratories have still been
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  Speaker 1: working and um and they've been going literally around the
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  Speaker 1: clock to make that possible. And look, we still have
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  Speaker 1: a lot of work to do, but we made a
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  Speaker 1: lot of progress and uh, and we'll be finding out
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  Speaker 1: a lot more in the coming weeks and months. But
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  Speaker 1: you know, consistent with what we talked about just recently
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  Speaker 1: when we announced the start of our Phase three trial,
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  Speaker 1: we would expect by late this year early next year,
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  Speaker 1: we should be in a position to begin reviews with
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  Speaker 1: regulatory authorities to see if our vaccine UH is in
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  Speaker 1: fact safe, effective, and and something that could be considered
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  Speaker 1: for an emergency use use authorization here in the United
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  Speaker 1: States and more likely around the world. So even if
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  Speaker 1: you have emergency use authorization to be realistic about it.
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  Speaker 1: It's not going to be ready until next year, is
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  Speaker 1: that right? I think I think that's a good time
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  Speaker 1: frame to be planning on. Uh, you know, and and
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  Speaker 1: again a lot of it's going to depend on what
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  Speaker 1: we find in phase three and David, as you know,
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  Speaker 1: that can depend on the incidence of the virus of course,
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  Speaker 1: because that has an impact on the statistical analysis that
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  Speaker 1: you'll be using in your study. It's going to depend
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  Speaker 1: on how well our vaccine is actually doing in the
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  Speaker 1: study and what kind of efficacy rates hit. But I
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  Speaker 1: think for planning purposes, if you think about late and
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  Speaker 1: early one, I think those are the kind of timelines
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  Speaker 1: that are likely most realistic. Okay, now there, You and
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  Speaker 1: a number of other CEOs of vaccine manufacturers have issued
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  Speaker 1: a letter saying basically, you don't want to be politically
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  Speaker 1: pressured to have a certain date and so forth. And
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  Speaker 1: can you articulate why you felt the need for that letter. Well, look,
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  Speaker 1: we think this is an incredibly important time for the
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  Speaker 1: pharmaceutical industry, let alone each of our companies, and it's
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  Speaker 1: absolutely critical during a time when unfortunately everything becomes politicized,
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  Speaker 1: that we rely on data that we rely on science,
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  Speaker 1: that we rely on well established regulatory guidelines to guide
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  Speaker 1: all of our decisions regarding the development and the actual
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  Speaker 1: utilization of these vaccines. And we thought that collectively making
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  Speaker 1: a very explicit statement about our commitment are pledged to
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  Speaker 1: following those established guidelines was very important to to maintain
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  Speaker 1: the trust, to maintain the confidence of people around the
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  Speaker 1: world regarding the safety and efvocacy and and actual accessibility
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  Speaker 1: of these vaccines. In a recent survey, I read that
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  Speaker 1: that was done of Americans that only are yet prepared
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  Speaker 1: day to take a vaccine if it's available. Is that
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  Speaker 1: a surprise to you that so many people are not
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  Speaker 1: yet ready to take it? Is that because of the
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  Speaker 1: perceived politalization of it? Well, they they have. Unfortunately, No,
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  Speaker 1: it's not a surprise, and it's it's actually fairly consistent
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  Speaker 1: in fact, with what you see with the annual flu
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  Speaker 1: vaccine that can range from anywhere from about and perhaps
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  Speaker 1: in some of the best states as high as forty
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  Speaker 1: forty or and and I understand some of the skepticism
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  Speaker 1: and cynicism. There's a lot of misinformation and there's a
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  Speaker 1: lot of concern about that people genuinely have. Uh, you know,
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  Speaker 1: based upon some of the readings that you can find
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  Speaker 1: out there. But I think that demonstrates is just how
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  Speaker 1: important it is for us to number one, to work
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  Speaker 1: closely with health care authorities, whether it's the CDC, BARDA,
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  Speaker 1: the n i H, the f d A agencies outside
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  Speaker 1: the United States to follow those appropriate protocols. I think. Secondly,
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  Speaker 1: it's going to take a lot of education. Uh. And
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  Speaker 1: and that's by the way, not only the responsibility I
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  Speaker 1: believe in the pharmaceutic coal industry, but it's going to
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  Speaker 1: require the government. It's going to require perhaps even businesses
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  Speaker 1: other stakeholders to make sure that we are sharing the facts. Look,
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  Speaker 1: I'm cautiously optimistic that as we provide more data, more information, uh,
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  Speaker 1: that as you know, people see the potential impact, positive
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  Speaker 1: impact that this could have in terms of returning back
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  Speaker 1: to a more normal state. Uh in some way that
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  Speaker 1: you know, people will you know, find the comfort and
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  Speaker 1: confidence uh to have a vaccine, because ultimately that it's
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  Speaker 1: going to be very important as we think about, you know,
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  Speaker 1: returning to a new kind of normal. Now, the federal
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  Speaker 1: government has poured billions of dollars into getting the vaccine
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  Speaker 1: developed and provided you and other companies with that money
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  Speaker 1: to help you facilitate the production of this Uh. Do
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  Speaker 1: you think that the taxpayers should get a benefit by
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  Speaker 1: either getting very low cost vaccines or free vaccines? We have, David, Look,
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  Speaker 1: I think it's in the bloks best interests that we're
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  Speaker 1: seeing this kind of public private partnership. I mean, there
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  Speaker 1: it would be very difficult for us to make the
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  Speaker 1: kind of advancements and accelerate the timelines that we're doing
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  Speaker 1: right now were it not for the partnership that we're saying,
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  Speaker 1: not only in terms of funds being provided, but in
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  Speaker 1: terms of literally the day to day interactions that are
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  Speaker 1: taking place between regulators and scientists across many of these platforms.
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  Speaker 1: You know, in our case, from the very beginning, we've
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  Speaker 1: made a pledge that we would do this on a
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  Speaker 1: not for profit basis. And uh, yes, we are working
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  Speaker 1: with the government and we've accept the government funds, but
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  Speaker 1: we also recognize that as Johnson and Johnson the world
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  Speaker 1: largest healthcare company, that's important for us at this very
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  Speaker 1: unique time to do it on a not for profit
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  Speaker 1: basis so that we can give as many people access
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  Speaker 1: around the world as possible. Uh. So that's the approach
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  Speaker 1: that we're taking. Now, there's a fear in some circles
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  Speaker 1: that wealthy people will get the vaccine quicker than people
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  Speaker 1: that are not wealthy, And you have with other CEOs
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  Speaker 1: and other health care officials and the Bill Millan, the
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  Speaker 1: Gates Foundation signed a letter essentially saying, you're committed to
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  Speaker 1: making certain that it doesn't go only to wealthy people
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  Speaker 1: and only the people in the United States. Can you
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  Speaker 1: explain why you wanted to have that letter and how
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  Speaker 1: you're going to make sure that happens. Well, look, we're
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  Speaker 1: the only way we're going to beat this virus is
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  Speaker 1: if we have global distribution, and no one is safe, frankly,
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  Speaker 1: if the entire world is not provided access. And so
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  Speaker 1: we are absolutely committed to doing this in a very ethical,
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  Speaker 1: in a very just way. Uh and uh. And we
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  Speaker 1: worked very hard to make agreements clearly with governments like
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  Speaker 1: the United States and Europe, Japan, the developed countries, but
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  Speaker 1: we're also working hand in hand with other pharmaceutical companies,
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  Speaker 1: the Bill and Milinda Gates Foundation to ensure the developing
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  Speaker 1: countries also have got access. So, as we talked today,
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  Speaker 1: the big news is that President Trump and the First
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  Speaker 1: Lady have contracted the coronavirus. Uh. Is that a surprise
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  Speaker 1: to you that that could possibly happen. Well, David, look,
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  Speaker 1: I think it demonstrates that we're all vulnerable and we
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  Speaker 1: still all need to be very vigilant and diligent and
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  Speaker 1: the actions that we're taking to prevent this virus from
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  Speaker 1: spreading any further. So, you, as the CEO of the
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  Speaker 1: largest healthcare company in the United States, I think it's
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  Speaker 1: the tenth largest company by market CAPP in the entire
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  Speaker 1: United States, market value of about almost four billion dollars,
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  Speaker 1: you have to be very careful because I think it
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  Speaker 1: would look bad, wouldn't it if the CEO of the
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  Speaker 1: largest health care company got the virus? So what do
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  Speaker 1: you do to protect yourself? Well, David, look, I think
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  Speaker 1: all of us have a huge responsibility to take care
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  Speaker 1: of ourselves, and certainly those of us like myself fortunate
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  Speaker 1: to be in this kind of a position where we
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  Speaker 1: have responsibility for others, have got to make sure that
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  Speaker 1: we put the safety of our employees, of our friends,
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  Speaker 1: of our families first and everything that we do. And Uh, look,
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  Speaker 1: that starts with the simple things. And I think one
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  Speaker 1: of the things that we've learned most through this pan
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  Speaker 1: emic is by making sure that we're using social distancing,
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  Speaker 1: that we're wearing masks, that we're washing our hands, that
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  Speaker 1: we're doing everything we can to prevent the spread of
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  Speaker 1: the virus. Are the most important steps that we can
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  Speaker 1: take to actually bringing an end of this pandemic and
• 10:15
  Speaker 1: in dealing with it for the long term. Now, vaccines
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  Speaker 1: of what everybody has been focused on, but there's also therapeutics.
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  Speaker 1: So for people might have already contracted the disease or
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  Speaker 1: already have the virus, is there any progress being made
• 10:27
  Speaker 1: on therapeutics that might help people that already have the disease. Well, David,
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  Speaker 1: that's that's a great point. There is no one silver
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  Speaker 1: bullet here, And I think what is really important for
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  Speaker 1: everyone to understand it's going to take a holistic approach.
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  Speaker 1: Is likely we're gonna be dealing with this not only
• 10:43
  Speaker 1: is a pandemic, but it's going to be endemic for
• 10:47
  Speaker 1: several years going forward. So in all likelihood it's going
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  Speaker 1: to take a combination of therapeutics for patients who are
• 10:54
  Speaker 1: actually sick, vaccines to present it, prevent it from happening
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  Speaker 1: in the first place, and you know, last, but not
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  Speaker 1: least hospital protocols that I think you've done a great job.
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  Speaker 1: Still much more work to do in terms of reducing
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  Speaker 1: actual mortality and morbidity. So things that have been talked
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  Speaker 1: about our mdzevie hydrodroxy chloroquine and also um convalescent plasma.
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  Speaker 1: But generally today you wouldn't say that those things are
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  Speaker 1: therapeutics that are going to solve the problem. Is that right?
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  Speaker 1: Not each and of themselves. I think there will be
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  Speaker 1: various opportunities that use and look, we're going to learn,
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  Speaker 1: for example, with commualiss and plasma, when and where are
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  Speaker 1: they most effective in what patient population is? In an
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  Speaker 1: older population? Could they be used, for example, in an
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  Speaker 1: elder care facility where you're seeing an outbreak in a
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  Speaker 1: more aggressive way? Uh? Should antivirals be used earlier in
• 11:46
  Speaker 1: the disease? And I think we're again we're developing a
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  Speaker 1: lot of information as we speak, and we're gonna learn
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  Speaker 1: a lot more in the coming weeks and months. Hindsight
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  Speaker 1: is always, it is said, but looking back, what would
• 11:58
  Speaker 1: you say that the CDC or the f d A,
• 12:01
  Speaker 1: or the White House or HHS should have done differently?
• 12:04
  Speaker 1: Is there anything that you would recommend that somebody in
• 12:07
  Speaker 1: the future that they do differently if they were overseeing
• 12:09
  Speaker 1: this kind of pandemic response. Well, you know, you're right,
• 12:12
  Speaker 1: when we look backwards, things always seem clear, and uh,
• 12:16
  Speaker 1: you know, I think there's a few lessons. And I
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  Speaker 1: would also say that almost all of us have underestimated
• 12:21
  Speaker 1: the dramatic impact of this outbreak. I mean, if you
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  Speaker 1: would have asked most people eight or nine months ago
• 12:26
  Speaker 1: if you would ever see the kind of impact that
• 12:29
  Speaker 1: we're you know, seeing around the world right now, few
• 12:32
  Speaker 1: would have gotten it right. But I think there are
• 12:35
  Speaker 1: lessons to be learned. First and foremost, I think is
• 12:38
  Speaker 1: the importance David, of global public health. And I think
• 12:40
  Speaker 1: going forward, we're going to understand much better that you know,
• 12:44
  Speaker 1: if we don't have global public health security, we don't
• 12:48
  Speaker 1: have national security, we don't have economic security, and we
• 12:52
  Speaker 1: will not have security of society. So I think the
• 12:55
  Speaker 1: importance of being prepared, making sure that you know, we've
• 12:59
  Speaker 1: got the kind of protocols in place, that we have
• 13:03
  Speaker 1: certain products preposition and frankly, also move from a maniacal
• 13:08
  Speaker 1: focus on efficiency and effectiveness in certain cases to one
• 13:12
  Speaker 1: more of resiliency and sustainability. Particularly for these kind of
• 13:17
  Speaker 1: situations where even you surprise how dependent maybe Johnson Johnson
• 13:21
  Speaker 1: and the healthcare industry was on manufacturing things in China
• 13:25
  Speaker 1: and offshore, so that for ppe and other things, we
• 13:28
  Speaker 1: really had to almost beg the Chinese to get us
• 13:30
  Speaker 1: some material. Will that change in the future and we're
• 13:33
  Speaker 1: you're surprised at the extent that we were so dependent
• 13:35
  Speaker 1: on offshore production? Yes, and I look, I think there's
• 13:38
  Speaker 1: an important lesson for all industries, not only the healthcare industry,
• 13:41
  Speaker 1: but you know, every supply chain. And the good news is,
• 13:44
  Speaker 1: over the last several decades, the globally integrated supply chain
• 13:48
  Speaker 1: has reaped tremendous rewards and again in terms of efficiency
• 13:52
  Speaker 1: and effectiveness for so many different companies. However, I think
• 13:55
  Speaker 1: it's important for us to realize that we've got to
• 13:58
  Speaker 1: make sure that we've got the kind of redundancy and
• 14:01
  Speaker 1: resiliency when these types of situations arise. And so we're
• 14:05
  Speaker 1: looking hard across our supply chain as we speak, to say, look,
• 14:09
  Speaker 1: what are the things where we Yes, we can still
• 14:12
  Speaker 1: take advantage of so many of the efficiencies from what
• 14:16
  Speaker 1: we were doing before, but what other things do we
• 14:19
  Speaker 1: need to think about reshoring. UH. What other capabilities do
• 14:22
  Speaker 1: we need to think to have more local uh, to
• 14:26
  Speaker 1: ensure that, you know, in future pandemics were all better
• 14:29
  Speaker 1: positioned and better prepared. Let's talk about how you went
• 14:32
  Speaker 1: from a graduate of the West Point to becoming the
• 14:35
  Speaker 1: CEO of this company. So where did you grow up? Well, Uh, Dad,
• 14:39
  Speaker 1: I couldn't have imagined forty sixty years ago that I'd
• 14:43
  Speaker 1: ever be in this role of position. But I was
• 14:45
  Speaker 1: actually born in Kansas City, Kansas. My grandparents for the
• 14:49
  Speaker 1: most part, we're immigrants, uh, and opened up small stores,
• 14:53
  Speaker 1: worked in meat packing plants UH in Kansas City and
• 14:58
  Speaker 1: UH I was there through my early years. And then
• 15:00
  Speaker 1: my father was moved with his job when I was
• 15:02
  Speaker 1: about twelve years old, UH, to a little town the
• 15:05
  Speaker 1: lower peninsula of Michigan. What propelled you to say I
• 15:08
  Speaker 1: want to go to West Point? Well, look, I was.
• 15:10
  Speaker 1: I was very fortunate. And you know, both my mother
• 15:12
  Speaker 1: and father worked. My My father, UH started as a
• 15:15
  Speaker 1: salesman in a in a foods company group of baby food,
• 15:18
  Speaker 1: and kind of worked his way a bladder. But he
• 15:21
  Speaker 1: was also a Korean War veteran and UH and he
• 15:23
  Speaker 1: stayed in the Army reserves. Uh. And my mother taught
• 15:28
  Speaker 1: uh special education students. And so I thought it was
• 15:31
  Speaker 1: natural when you were growing up that your father not
• 15:33
  Speaker 1: only went to work and your mother went to work,
• 15:34
  Speaker 1: but also that you know, one weekend a month, that
• 15:36
  Speaker 1: he would put a uniform on to go service country
• 15:40
  Speaker 1: and um. And I was really inspired by that. And
• 15:43
  Speaker 1: I was one of six children, uh and uh. And
• 15:46
  Speaker 1: I also knew that going to a place like West
• 15:49
  Speaker 1: Point not only would afford me an opportunity for a
• 15:52
  Speaker 1: great education and a career, but it was also certainly
• 15:56
  Speaker 1: an economical way to do it, and you know, one
• 15:58
  Speaker 1: where I could pay my own ways. True. And and
• 16:01
  Speaker 1: so I put all that together and I found that
• 16:03
  Speaker 1: to be a really you know, attractive path and uh
• 16:06
  Speaker 1: and I was fortunately that's what I was able to follow.
• 16:09
  Speaker 1: And when you graduated, did you say, now I want
• 16:11
  Speaker 1: to be a healthcare executive or how long did you
• 16:13
  Speaker 1: stay in the military? No? No, I look, I graduated,
• 16:16
  Speaker 1: and like all of my classmates, I I went into
• 16:19
  Speaker 1: the army as a lieutenant. I had a I had
• 16:23
  Speaker 1: an assignment in Europe for my very first role, and
• 16:26
  Speaker 1: then I was stationed back in the United States, actually
• 16:29
  Speaker 1: out of for Doord, California in the seventh Infortory Division,
• 16:32
  Speaker 1: and I spent six years where I ended my service
• 16:35
  Speaker 1: as a as a captain. I was a battery commander
• 16:38
  Speaker 1: and a rapid deployment force unit. And that's when I
• 16:41
  Speaker 1: made my decision to, uh, you know, exit the Army
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  Speaker 1: and join Johnson and Johnson. Now you also got an
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  Speaker 1: MBA from Wharton. Yes, when do you have time to
• 16:49
  Speaker 1: do that? Well? You know, I I started when I
• 16:52
  Speaker 1: left the Army. I started as a sales representative at
• 16:55
  Speaker 1: Johnson and Johnson. It was part of a leadership development
• 16:58
  Speaker 1: program and I but I felt getting the skills understanding
• 17:01
  Speaker 1: the customers, really learning you know what doctors and surgeons
• 17:05
  Speaker 1: and nurses and people who were using our products on
• 17:08
  Speaker 1: a day to day basis, that was an important experience
• 17:11
  Speaker 1: to get uh and uh. And then I went into
• 17:15
  Speaker 1: sales management, later into marketing. But I also realized that
• 17:17
  Speaker 1: look I had I had studied engineering in college uh
• 17:20
  Speaker 1: and UM. And I realized that if I was going
• 17:23
  Speaker 1: to have the skills and business that I felt were
• 17:25
  Speaker 1: really necessary, UH, that you know, going back and getting
• 17:30
  Speaker 1: exposed and much more depth to accounting, to finance, to
• 17:33
  Speaker 1: strategy and other things I was going to be important
• 17:36
  Speaker 1: and I was. Uh. I was very fortunate that they
• 17:39
  Speaker 1: supported my attendance at the Executive NBA program at Wharton
• 17:43
  Speaker 1: where I went and completed that. Uh. You know, at
• 17:46
  Speaker 1: an early point in my career. So you started out
• 17:48
  Speaker 1: marketing with a subsidiary of Johnson and Johnson UM at
• 17:52
  Speaker 1: the time, and you did that, Did you say, well,
• 17:54
  Speaker 1: somebody who starts out as a marketing person for this
• 17:56
  Speaker 1: subsidiary surely should rise up to be the CEO someday
• 18:00
  Speaker 1: a UM. Did you ever imagine at that point that
• 18:02
  Speaker 1: you could rise up or you always had that as
• 18:04
  Speaker 1: your goal? No, you know, I did realize, however, that
• 18:09
  Speaker 1: getting exposure and experience with as many different aspects of
• 18:13
  Speaker 1: our business early on in my career is important. And
• 18:16
  Speaker 1: marketing was one place where you could interface with research
• 18:19
  Speaker 1: and development to really understand our products, where you would interview,
• 18:22
  Speaker 1: where you would engage with your finance counterparts, your supply
• 18:26
  Speaker 1: chain people, and so it was really the kind of
• 18:29
  Speaker 1: position that exposed you to almost all aspects of the organization.
• 18:33
  Speaker 1: And look, at that time, I aspired to perhaps be
• 18:37
  Speaker 1: able to run one of our our divisions, and uh
• 18:41
  Speaker 1: and and and from there things took on a life
• 18:44
  Speaker 1: of their own. So you've now been the CEO since
• 18:47
  Speaker 1: two thousand twelve, so about eight years or so. And
• 18:51
  Speaker 1: for most CEOs of fortune companies or less, they were
• 18:54
  Speaker 1: the founder of them. Generally five six years is fairly average.
• 18:58
  Speaker 1: So you're eight, um, but you're very young, and you're
• 19:01
  Speaker 1: obviously in good shape. So as your plan to do
• 19:03
  Speaker 1: this for a long time in the future, Well, look, David,
• 19:05
  Speaker 1: I'm I'm very fortunate to be the seven CEO Johnson
• 19:08
  Speaker 1: and Johnson. You're right, the I think one of the uh,
• 19:11
  Speaker 1: the great characteristics of the company is the long tenure
• 19:16
  Speaker 1: that my predecessors have have in the in the continuity,
• 19:19
  Speaker 1: the consistency, and the kind of long range thinking that
• 19:23
  Speaker 1: it imbued into the organization. And uh and I'm proud
• 19:27
  Speaker 1: to you know, have been part of that. And uh
• 19:29
  Speaker 1: and and look, I'm I'm as excited today about what
• 19:32
  Speaker 1: I'm seeing in terms of science and technology and the
• 19:35
  Speaker 1: potential of the patients. I mean, look what we're doing
• 19:37
  Speaker 1: with the vaccine. We couldn't have even imagined that, you know,
• 19:40
  Speaker 1: with about ten months ago. And uh, so that it's
• 19:45
  Speaker 1: you know, it's a constant stream of new opportunities challenges
• 19:50
  Speaker 1: that you're facing along the way. But look, you know,
• 19:53
  Speaker 1: like everybody, UM, I would always consider ways of how
• 19:57
  Speaker 1: could you continue to serve other stakeholders? How can you
• 20:00
  Speaker 1: continue to serve others? But you know what, I think
• 20:03
  Speaker 1: I've got the best job in the world most days. Now.
• 20:06
  Speaker 1: You are a fitness expert or a person who cares
• 20:09
  Speaker 1: a lot about fitness. You're always running or exercising, and
• 20:12
  Speaker 1: so I assumed during this period of time you're doing
• 20:14
  Speaker 1: it even more just to stay in shape. Is that right?
• 20:16
  Speaker 1: Do you run a lot or do you exercise a
• 20:19
  Speaker 1: lot every day? Yes? I do, David. And look, I
• 20:21
  Speaker 1: learned a long time ago, even during my time in
• 20:24
  Speaker 1: the military, that one of the most important things you
• 20:26
  Speaker 1: can do, uh, to ensure that if my chance, you know,
• 20:30
  Speaker 1: you were you were wounded, was to be healthy in
• 20:33
  Speaker 1: the first place. And it's interesting because I think one
• 20:35
  Speaker 1: of the things that we're learning about this disease, of course,
• 20:38
  Speaker 1: is that the healthier you are, if you in faction
• 20:41
  Speaker 1: contact the disease, likely the better prepared you're going to
• 20:45
  Speaker 1: be to be able to survive and get through it
• 20:47
  Speaker 1: in a much better manner. And uh, you know, look
• 20:50
  Speaker 1: like many others, I've been doing my best to to
• 20:52
  Speaker 1: deal with the situation, not only working out of the
• 20:54
  Speaker 1: house but taking care of myself. But yes, I I
• 20:57
  Speaker 1: always put a priority on, you know, trying to take
• 21:01
  Speaker 1: care of ourselves, stay healthy, get the kind of rest
• 21:03
  Speaker 1: that you need, eat the right way, and um, I
• 21:07
  Speaker 1: think doing all these things not only happen or help
• 21:10
  Speaker 1: in your daily life, but certainly are going to affect
• 21:12
  Speaker 1: in a situation like COVID nineteen as well. So when
• 21:15
  Speaker 1: you're running the biggest healthcare company United States, I guess
• 21:17
  Speaker 1: you're always worried that somebody might see you eating a
• 21:19
  Speaker 1: French fry or a big mac, or you know you're
• 21:23
  Speaker 1: you gained an extra pound or something. Do you feel
• 21:25
  Speaker 1: you've gotta be very careful because everybody's watching you of
• 21:27
  Speaker 1: who you are and the company you're running. No, No,
• 21:30
  Speaker 1: I don't worry about that, look. I think. I think
• 21:32
  Speaker 1: it's important about life and so many things. Is balanced
• 21:35
  Speaker 1: and uh, And I tend to follow an act some
• 21:37
  Speaker 1: that look During the week, especially given my travel schedule
• 21:40
  Speaker 1: and the demands is I tend to be pretty strict, uh,
• 21:44
  Speaker 1: you know about what I eat and and the kind
• 21:46
  Speaker 1: of rituals I put in place. It just keeps me
• 21:48
  Speaker 1: on pace, whether I'm here in New Brunswick or whether
• 21:51
  Speaker 1: I'm in China or traveling in other places around the world.
• 21:55
  Speaker 1: But hey, on the weekend, of course, I uh, I
• 21:57
  Speaker 1: like to I like to have a burger from time
• 21:59
  Speaker 1: to time, or or that steak. And that's why I
• 22:02
  Speaker 1: worked so hard, uh in trying to keep fit along
• 22:05
  Speaker 1: the way, and and I find by having that balance, say,
• 22:08
  Speaker 1: I can I can take care of myself, but I
• 22:10
  Speaker 1: can also have fun. So I'm you're in pretty good
• 22:13
  Speaker 1: shape obviously, so, but eventually I guess you have Uh.
• 22:16
  Speaker 1: You go to the doctor for annual physicals or something
• 22:18
  Speaker 1: like that. If the doctor says, uh, you need a
• 22:21
  Speaker 1: band aid. Here, I'll give you a shot and put
• 22:23
  Speaker 1: a band aid on. That's not a band aid, it's
• 22:25
  Speaker 1: some other company's product. You take it off, or you
• 22:27
  Speaker 1: say you can only use Johnson and Johnson products on me. Well, actually,
• 22:31
  Speaker 1: had that happened One time? I had a bicycling accident
• 22:33
  Speaker 1: where I had to get some stitches in my hand,
• 22:35
  Speaker 1: and of course when I went to the local hospital,
• 22:37
  Speaker 1: I made sure that they were our sutures. Uh. So
• 22:40
  Speaker 1: uh and look I've I've had my hip replaced. I
• 22:44
  Speaker 1: have one of our products in my hip, and uh
• 22:48
  Speaker 1: it feels great, and uh it was. It was a
• 22:50
  Speaker 1: life changer for me once I had that procedure done. Well. Listen,
• 22:54
  Speaker 1: I appreciate your giving us as much time. I hope
• 22:57
  Speaker 1: the vaccine comes as soon as possible and the health
• 23:00
  Speaker 1: and good way and safe for everybody. You can rest
• 23:02
  Speaker 1: assure that we're going to be working seven doing everything
• 23:06
  Speaker 1: we can to make that possible. Between now and then,
• 23:09
  Speaker 1: you've been listening to Alex Gorski, chairman and chief executive
• 23:12
  Speaker 1: officer at Johnson and Johnson on the David Rubinstein Show
• 23:15
  Speaker 1: Peer to peer Conversations. And that's it for this hour
• 23:20
  Speaker 1: of Bloomberg Best. I'm at Baxter and I'm Denise Pelly Green.
• 23:24
  Speaker 1: This is Bloomberg