Novo Nordisk (Ozempic)

9743.402 - 9766.632 Ben Gilbert

Biosimilars are effectively what people call generics, but for the category of drugs that involve live cells rather than mixing chemicals together. So traditional drugs have generics and biologics have biosimilars. Biosimilar insulin became a thing. And so a lot of the profits just got completely arbitraged away. And GLP-1s are here, so those are reducing demand for insulin too.