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(upbeat music)
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Welcome everyone.
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We're so glad you can join us today.
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We have an outstanding CEO discussion planned,
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and we're honored and excited to have Giovanni Caforio,
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CEO of Bristol Myers Squibb,
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and Kevin Sayer, CEO of Dexcom, as our panelists.
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During today's session,
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Giovanni and Kevin will share their perspectives
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on the 2022 health care industry outlook.
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It promises to be an engaging and insightful session.
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(upbeat music)
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I think it has changed
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the way we think about drug development,
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because when you think about developing a vaccine
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in one year, of course, the pandemic created an incredible sense of urgency
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and the teams that worked did a fantastic job,
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but it's impossible for me to then go back and say,
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"Let's go back to taking ten years
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to develop the next cancer medicines."
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With respect to the providers,
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during the COVID times in particular,
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we have been able to introduce an element of telemedicine
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with our data in the Cloud and our connected devices
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to whereby diabetes treatment,
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for patients on Dexcom system became very natural,
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in a telemedicine environment.
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We have an imperative to do things differently,
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and I think there is a real opportunity.
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We've learned how technology accelerates
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the development of medicines by making clinical trials
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easier to monitor by eliminating some of the maybe visits,
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or tests that we were doing that weren't necessary.
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We've exchanged data with regulators on a continuous basis.
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In many cases, we've seen institutions and governments
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being willing to work with us,
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in very, very different ways and exchange perspectives live.
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In the FDA with Dexcom, in particular, over time
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it's been a very good relationship,
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and it's based on a very simple concept here,
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we talk to them and had a partnership before we start,
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"This is what we're going to do, how we're going to do it."
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And when we do what we say we're going to do,
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things go very well.
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(upbeat music)
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You know, we have over 85 important partnerships
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with biotech companies, with academia,
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where we are advancing programs together.
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And it's really the core, as I said,
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of the innovation strategy of BMS.
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I think from my perspective,
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it requires us to be really open
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of people that may be thinking about science
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differently than you.
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It requires building a very high degree of the trust,
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a level of transparency with your partner.
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And what makes it easy in our case
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is that we have a common goal,
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you know, we know we have a patient
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that is waiting for a very different treatment option
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for a very serious disease.
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And that brings different teams together
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in a very, very unique way.
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What we hear from the companies we work with,
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is the desire to be doing work together,
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and advance a common mission,
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because obviously there is a lot of passion
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for what's been invented
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in a startup, in a small biotech company.
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And we don't take the approach of being the large pharma
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that comes to the table,
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you know, we take the approach
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of being a true committed partner
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that will work with transparency and build trust over time.
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(upbeat music)
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Health equity has always obviously been a huge issue,
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but I think Covid really did shine a light
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on disparities in care.
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So let me ask, you Kevin first, and then Giovanni,
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you know, in the diabetes field,
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disparities in care, I think play a massive role.
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How does Dexcom think about it?
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What is your approach to addressing it?
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And what advice do you have for others?
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We actually did some research and some surveys on this,
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and we found there's great disparities in CGM usage,
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even when reimbursement is the same,
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there's disparities in usage of our devices,
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yet everybody, like in the medicare population,
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everybody's eligible, everybody's covered.
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We saw that at the beginning of the pandemic,
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we became really concerned
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that patients would lose access to important therapies.
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You know, we were right at the beginning of the pandemic.
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We made a decision, for example,
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for any patient that lost their health care insurance,
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because they lost their job due to the pandemic.
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We made all BMS medicines available for free
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to patients in the United States.
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Well, when we run studies,
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we run studies across the board,
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age, education, gender, ethnicity, everything,
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we try to include every single group
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when we're developing evidence to support the product.
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I think the one area that we've decided
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to really take leadership position in,
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is the area of the diversity in clinical trials,
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because ultimately I think it's really important
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to build trust in every community
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for what a new medicine,
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or a new therapeutic approach can do.
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And so we're investing significantly to make sure
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that we have a diversity of geographic location,
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clinical trial investigators, and of course,
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patients in clinical trials.
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The last piece I'll tell you
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is just driving access in those communities.
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The last piece of the world to reimburse for our system
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has been the Medicaid plans,
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and we've gone from zero Medicaid plans four years ago,
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to 45 of the 50 states now cover us.
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(upbeat music)
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We are increasingly focused
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on the role we can play as a large company.
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And it's for a number of reasons.
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First of all, you know, we are a health care company.
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So ultimately I think the health populations,
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the health of our customers is important,
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and is impacted by the choices we make on the environment.
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Second is because that's what our workforce
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is asking us to do.
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It's become an integrated element in product design,
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in our migration from G6 to G7,
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we're significantly decreasing the footprint of our device.
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There's much less plastic,
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there's much less size,
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there's much less to throw away.
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You know, when you start down this path,
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it's kind of the last thing on your mind,
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because what you really need to do,
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is just get the thing to work, you know?
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And get the technology out there,
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and get it developed up, and you wake up and say,
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"OK, how do we change our footprint going forward?
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How do we use less plastic?
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How do we recycle more?"
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(upbeat music)
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I think it's the number one, you know, priority.
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And it has changed so much over the last two years.
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You know, attrition rates have gone up,
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expectations have changed significantly in the workforce.
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I think for us, it really starts
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with highlighting the mission of the company,
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and being a patient-centric organization
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that really focuses on doing what's best for patients.
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That resonates with many scientists,
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and resonates with our workforce.
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Mission-driven recruitment has really been a theme for us,
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as we hire talent,
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and they hear from people who use our product.
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It's very easy to get people to come that way,
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but we're in a different age now,
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we're not competing with just other
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health care mission-driven companies.
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We're now competing with the tech giants
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for software programmers,
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and for electrical engineers,
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and things of that nature.
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We've got to grow and develop people,
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and create development programs
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that we haven't done in the past.
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And so we're working very hard on infrastructure
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to make people successful.
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(upbeat music)
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You know, we were the first company
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to share data with others,
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to enable people to see how somebody's doing.
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So we try and give our users the data
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where they can use it to best be successful,
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and it's complicated,
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but it really makes coming to work every day
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extremely rewarding.
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But our approach is going to be open architecture.
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If a user wants their data displayed in a different way
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than we display it, let's figure out a way to get there.
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And there we're providing numerous options for that.
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We integrate with insulin pumps
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for automated insulin delivery.
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We integrate with insulin pens with Bluetooth signals,
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integrate with all sorts of different entities
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to get the data where it needs to be.
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During the pandemic at BMS,
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we have launched six new medicines.
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And in many cases, these are very different ways
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of treating serious diseases
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versus what physicians and patients were used to.
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We've made a number of investments
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to have digital platforms to interact with customers.
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And I think we've demonstrated
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that it is possible to develop a very effective
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relationship, digitally, with health care providers,
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with prescribers,
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and help them understand the new treatment option,
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adopt a new medicine,
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because those launches actually have been very successful.
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There are many more software solutions coming digitally
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to help people manage those
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who are taking intensive insulin.
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As I look at the rest of the diabetes world, though,
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the Type 2 side,
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I'm very excited to get CGM out into that population,
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to whereby they have data to make decisions.
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(upbeat music)
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It's what we're all about.
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We have two-year-olds on the device.
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we have 95-year-olds on the device.
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Completely different experiences.
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So personalization is absolutely coming with what we do,
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and we can do that through software,
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and then through also interaction with the data
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that we take to the Cloud and we can share with others.
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So, I think not only is it part of our business today,
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it's going to be an even bigger part in the future.
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And that's how we'll continue to grow.
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We are not yet at the stage
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that we have a deep interaction with individual patients
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on their treatment choice.
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Although, I think we'll get there.
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I think where the way we think about personalized therapies
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is really to develop the right treatment approach
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for every single patient,
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which is a combination of different medicines
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at a different stage in their disease.
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Sometimes the integration between radiotherapy,
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surgery, and pharmaceutical interventions.
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And I think that's tailored
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to every single individual patient.
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Ultimately, I guess, you know,
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the future is connecting the person
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and the institution that is treating the patient, with us,
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to be able to understand what treatment
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is the best treatment for that patient, based on data.
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(upbeat music)