Latest / Bloomberg Intelligence / Shire's Ornskov on $1 Billion Potential for Dry-Eye Drug(Audio)

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Shire's Ornskov on $1 Billion Potential for Dry-Eye Drug(Audio) · Bloomberg Intelligence

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  Speaker 1: That's a Bloomberg business flash. You're listening to taking stock
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  Speaker 1: with Kathleen Hay and Pim Box on Bloomberg Radio. And
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  Speaker 1: estimated sixteen million adults in the United States are direct
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  Speaker 1: most each year with dry eye disease and Shire the
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  Speaker 1: pharmaceutical company shares rose to its highest level in ten
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  Speaker 1: months in London trading. This after the US Food and
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  Speaker 1: Drug Administration approved its Zidra drops to treat dry eye disease.
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  Speaker 1: It's the first treatment for the ailment to be approved
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  Speaker 1: in more than a decade. Here to tell us more
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  Speaker 1: is the chief executive of Shire, Dr Fleming Orne Scoff.
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  Speaker 1: Dr orn Scott, thanks very much for being with us.
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  Speaker 1: Tell us about this new treatment. How long did it
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  Speaker 1: take to develop and what's the market? Well, first of all,
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  Speaker 1: thank you so much for having me on your show today. Well,
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  Speaker 1: this is a triple first. UM. It's the first product
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  Speaker 1: that has been approved for both the signs and the
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  Speaker 1: symptoms of dry eye disease in adults, and as you mentioned,
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  Speaker 1: there is a loan in the U S sixteen million
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  Speaker 1: estimated software. UM. It's also a first new product for
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  Speaker 1: dry eye disease to prove within the last decades by
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  Speaker 1: the FDA, and it's the first of Talmic product in
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  Speaker 1: Shire's portfolio to be approved. So it's a triple first today. UM.
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  Speaker 1: It has taken several years. We acquired the product through
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  Speaker 1: an acquisition of a company called STA Codes in two
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  Speaker 1: thousand and thirteen and now two thousand five D patients
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  Speaker 1: later UM several Phase two particularly one large Phase two study,
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  Speaker 1: three Phase three studies, and a long term Phase three
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  Speaker 1: safety study, we arrived at an approval. So it's a
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  Speaker 1: big day for us, but I think it's an important
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  Speaker 1: day for patients because now there's an important other opportunity
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  Speaker 1: force offfers with dry iteices in the US. What is
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  Speaker 1: the recommended dosage and how would patients use it? And
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  Speaker 1: perhaps tell us a little bit about price. UM. So
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  Speaker 1: it's a the active ingredient insider is called the photographs
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  Speaker 1: five percent and it's UH an eye drop that you
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  Speaker 1: take twice daily UM. And it's indicated for these signs
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  Speaker 1: and the symptoms of dry a disease in adults. And
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  Speaker 1: what would be the estimated price for treatment? So we
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  Speaker 1: have not announced the price yet. We will soon be
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  Speaker 1: announcing the price and engage with payers to discuss reimbursements
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  Speaker 1: so that we can ensure fast and uninhibited reimbursement for
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  Speaker 1: as many patients as positible. And I'm confident that well
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  Speaker 1: we will arrive at that dry eye disease. Is it
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  Speaker 1: associated with inflammation? I mean, could it lead to actual
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  Speaker 1: damage to the surface of the eye If not treated properly. Yeah, so,
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  Speaker 1: um it is a condition that affects a large number
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  Speaker 1: of patients. Sixteen million estimated adults in the U suffer
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  Speaker 1: from that. UM so you will have both signs and
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  Speaker 1: symptoms of the condition, and Shires product site or is
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  Speaker 1: indicated for both the treatment of the signs and the
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  Speaker 1: symptoms of dry eye disease. It can of course come
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  Speaker 1: in varying degrees of severity from mild to very severe
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  Speaker 1: where you see significant impact on the surface of the eye,
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  Speaker 1: so called the cornea. So it's a pretty uh irritating
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  Speaker 1: to devastating condition, depending on um the severity of the condition,
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  Speaker 1: and it requires, of course that you seek in most
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  Speaker 1: cases the medical care, whether that's an optometrists and optomologists
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  Speaker 1: or primary care physician that will then take a look
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  Speaker 1: at the eye and prescribe medicine where appropriate. We're speaking
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  Speaker 1: with Dr Fleming Orange Scoff. He is the chief executive
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  Speaker 1: of Shire p l C. Could this become a blockbuster?
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  Speaker 1: I understand that based on a variety of estimates that
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  Speaker 1: we've compiled here at Bloomberg, that you could have sales
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  Speaker 1: of just over a billion dollars by is that consistent
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  Speaker 1: with your research. Yes, so I think it's quite clear,
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  Speaker 1: with sixteen million adults in the US suffering from dry dissees,
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  Speaker 1: many of them today knots being treated and many looking
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  Speaker 1: for an alternative treatment options, that there is a significant
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  Speaker 1: commercial opportunity um. And it is true that most analysts
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  Speaker 1: and also we think this has the opportunity to become
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  Speaker 1: a blockbuster, which is of course very important. But I
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  Speaker 1: think the patient perspective that there is an alternative assipatent
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  Speaker 1: is for me as a physician, the most important. Many
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  Speaker 1: of us that have worked in octomic medicine for many
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  Speaker 1: years had worked on various projects projects to get other
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  Speaker 1: products approved in this indication, and the fact that it
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  Speaker 1: is not easy, I think can be seen by the
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  Speaker 1: fact that this is the first partuct to be approved
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  Speaker 1: for science and symptoms of dry disees ever in the
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  Speaker 1: first new product to be approved by the FDA in
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  Speaker 1: ten years for this indication. So I think it's first
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  Speaker 1: of all, a good opportunity for patients and a good
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  Speaker 1: day for patients because now there's another alternative for those
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  Speaker 1: that are suffering from driet disease. You mentioned alternatives for
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  Speaker 1: the patients, and one alternative, of course, is a drug
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  Speaker 1: that is already on the market. This is Allergan's Restasis,
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  Speaker 1: and I understand that about half of her stasis patients
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  Speaker 1: stopped taking who those who stopped taking it, about half
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  Speaker 1: of them stopped taking it because because of its cost.
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  Speaker 1: Is that a factor in in your drug as well? No,
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  Speaker 1: I think no medicine UM will treat all patients UM.
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  Speaker 1: And I think the physician in UM, you know, talking
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  Speaker 1: to the patient and talking with the patient about the
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  Speaker 1: condition and severe to UM, should make the appropriate choice
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  Speaker 1: UM for UM a patient. And I don't think one
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  Speaker 1: size fits all, but I think it's good to have alternatives,
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  Speaker 1: and I think UM cider Um will provide such an
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  Speaker 1: alternative for UM eye care professionals and for patients to consider.
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  Speaker 1: And I think the data in the NABL speaks for themselves,
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  Speaker 1: and I'm absolutely sure that this is an attractive opportunity
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  Speaker 1: for many patients. Thank you very much for joining us.
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  Speaker 1: Dr Fleming Orange Scott is the chief executive of Shire PLC.
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