Larry Summers, President Emeritus and Professor of Harvard University, at the World Economic Forum (WEF) in Davos, Switzerland, Tuesday, January 21, 2025.
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Former U.S. Treasury Secretary Larry Summers predicted on Tuesday that miraculous drug innovations — like those that sparked the meteoric rise of Wegovy and Zepbound — could happen every few years thanks to new technologies .
Speaking on a World Economic Forum panel moderated by CNBC’s Steve Sedgwick, Summers said the world is currently in an “amazing moment of technological possibility” that is driving unprecedented Innovation.
“The world has never been as bright with technological possibilities as it is today,” he said in Davos, Switzerland, touting developments in green energy, computing and life sciences.
“We’re going to be in a world where every few years we’re going to see something like Wegovy and semaglutide — a miracle drug, a new drug,” he said. “I believe artificial intelligence is to the Internet what computers are to calculators.”
Semaglutide—a class of drugs used to treat type 2 diabetes and obesity— become a weight loss phenomenon recent years. Demand for drugs drives huge business success For pharmaceutical giants, including Novo Nordiskwhich manufactures semaglutide under the Wegovy and Ozempic brands, and Eli Lilly and Companywhich produces competitor Zepbound.
These drugs may also further improve health outcomes, with trial data showing they can reduce the risk of major cardiovascular events. Substance abuse.
OZEMPIC, WEGOVY and other weight-loss drugs seized at JFK International Mail Facility.
CNBC
Summers said these broad-reaching applications could be replicated in other drug groups and medical conditions in the future.
Vas Narasimhan, CEO of Swiss Pharmaceuticals Novartisare more cautious about the prospects of such miracle drug groups.
Referring specifically to the obesity drug group, Narasimhan said Tuesday that while such innovations are “important,” they are unlikely to fully address the underlying health problem.
“They will definitely help a small group of patients significantly,” he told CNBC’s “Squawk Box Europe.”
“But the fact is, taking these drugs for a lifetime is a pretty onerous task, especially when you’re outside of an advanced health care system,” he said, noting that a complete “rethink” of the food system is needed to combat the Obesity and obesity.
So far, Novartis has not exited the increasingly competitive weight-loss drug market, telling CNBC in September that it had There are no plans to join “Mania”.
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Correction: This article has been updated to reflect the correct spelling of Larry Summers’ name in the title.
