Company Performance - Eli Liy's market capitalization has increased by approximately 860% since the current CEO took office [1] - The stock price is up a little bit more than 1,000% [1] Drug Development & Market - Eli Liy is the world's most valuable pharmaceutical company and a leader in the GLP-1 drug market [1] - GLP-1 drugs have become increasingly popular [1] - Eli Liy says it has a pill, eliminating the need for needles [1] - Eli Lily's experimental pill appears to work as well as the injected drug [2]

Financial Performance & Cost Reduction - Pfizer reported exceeding its initial cost reduction program for the year and announced an additional 17 billion USD cost reduction plan, with 12 billion USD impacting administrative, marketing, and selling expenses by 2027, and 500 million USD reinvested in R&D [3] - Pfizer experienced 10% revenue growth this quarter, but revenue growth has been volatile due to the fluctuating impact of COVID-19 [3][4] - New products and recently acquired products contributed 47 billion USD in the first half of the year, growing at 15% [5] Operational Strategy - Pfizer is focusing on productivity enhancement and margin expansion through focus on key priorities and leveraging technology, particularly AI, to simplify business processes and reduce waste [1][2] - Pfizer aims to streamline operations by eliminating less important activities and concentrating on core strengths [2] Regulatory & Political Landscape - The CEO of Pfizer has a special relationship with the US President, particularly stemming from collaboration during the COVID-19 crisis, and has discussed the impact of middlemen on drug prices [8][9] - The US President aims to secure better deals on drug pricing, expressing concern that other countries pay less [10] - The US President is considering tariffs, potentially reaching 250%, on imports, but may phase them in and allow a grace period due to the long lead times required for pharmaceutical manufacturing site completion (over 4 years) [11][12][13] - The pharmaceutical industry is engaging in discussions with the US President regarding the "most favored nations" pricing clause and potential mitigation plans [17] - Generics account for over 90% of prescriptions in the US and are the cheapest globally, but patients may still pay more due to the insurance system [19][20] - Pfizer has a significant manufacturing presence in the US, with 13 sites, including 11 manufacturing plants [20] - The impact of tariffs depends on the product and how customs authorities define the country of origin, considering both API origin and final product location [19][21]

Financial Data and Key Metrics Changes - Net Asset Value (NAV) increased by $252 million from the first quarter, primarily driven by positive performance in CVI, offset by decreases in auto service [5] - The investment funds ended down approximately 0.5% for the quarter, primarily driven by gains in the consumer cyclical sector, offset by broad market and refining hedges [6] - The holding company ended the quarter with $1.1 billion in cash and cash equivalents, and an additional $700 million of cash at the funds [10] Business Line Data and Key Metrics Changes - Energy segment consolidated EBITDA was negative $24 million for Q2 2025 compared to $103 million in Q2 2024, negatively impacted by unfavorable RINs valuation and reduced throughput volumes [14] - Automotive service revenues decreased by $8 million compared to the prior year quarter, but same-store revenues improved from a 5% decline to 1% growth in May and June [15] - Real estate's Q2 2025 adjusted EBITDA decreased by $2 million compared to the prior year quarter, following the sale of a successful country club investment [17] - Food packaging's adjusted EBITDA decreased by $9 million for Q2 2025 due to lower volume and higher manufacturing inefficiencies [18] Market Data and Key Metrics Changes - CVI's share price increased by 38%, contributing to a $561 million increase in NAV from the first quarter [5] - The auto service division showed a positive trajectory in revenue growth, indicating a potential turnaround [15] Company Strategy and Development Direction - The company is focusing on maintaining liquidity to capitalize on opportunities within and outside existing operating segments, with a total liquidity of $3.5 billion at the holding company and $1.1 billion at subsidiaries [19] - The company plans to redeploy capital from the successful country club sale to new opportunities, aiming to replicate past successes [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the resolution of outstanding litigation related to small refinery exemptions, which could remove a $548 million liability [6] - The company sees considerable value creation potential in its portfolio, particularly in electric utilities and digital businesses [11][12] Other Important Information - CVI's CEO, Dave Lamp, will retire at year-end, with Mark Pytosh being promoted as his replacement [6] - The Board maintained the quarterly distribution at $0.50 per depositary unit [10] Q&A Session Summary Question: Regarding the decrease in cash balance at the holding company level - The decrease was primarily due to interest payments and LP distributions, with some impact from the CVR repurchase of about $32 million [21]

According to recent data, the prices that Americans have been paying for brandame drugs are more than three times the price other similar similarly developed nations pay. The president is determined to solve this problem and took further action today. He has signed 17 letters to pharmaceutical companies CEOs and I would like to read you one of these letters to the CEO of Eli Liy.On May 12th, 2025, I signed an executive order delivering most favored nation prescription drug pricing to American patients to st ...

Government Policy & Regulation - US President Trump is urging 17 pharmaceutical manufacturers to voluntarily lower US prescription drug prices within 60 days to match global prices [1] - The call includes extending most favored nation (MFN) pricing to Medicaid [2] - Guaranteeing MFN pricing for newly launched drugs is also requested [2] - The request includes returning increased revenues from abroad to American patients and taxpayers [2] - Direct purchasing at MFN pricing is another point in the request [2] Industry Impact & Challenges - Implementing MFN pricing for newly launched drugs presents challenges, as US is often the initial launch market [3] - The industry will be watching the responses of companies like Lily, Pfizer, and AbbVie [4]

Well, pharma stocks are on the move as well. Our Angelica Peebles has that story. Angelica.>> Hey, John. Well, President Trump is sending letters to 17 pharmaceutical manufacturers calling on those manufacturers to take voluntary actions within the next 60 days to lower the price of prescription drugs in the US to similar prices around the world. So, he's calling for four things.He wants these companies to extend most favored nation pricing to Medicaid. He also wants them to guarantee MFN pricing for newly ...

today. Thanks. >> Good.Thank you. >> Okay. >> All right.Shares of Sanofi are lower this morning. The French pharmaceutical giant second quarter profits missed estimates but revenue topped expectations. The company is also raising its annual sales forecast on strong demand from its anti-inflammatory drug, Dupixent.That stock right now off by about 4%. Joining us right now to break it all down is Paul Hudson. He's Sanofi's CEO.And Paul, I have to say reading through the results, I was a little surprised to se ...

“We’re taking a pharmaceutical approach to nature,” says Joel Stanley, Ajna BioSciences’ 45-year-old CEO and founder. “Our entire process is totally organic, which means we could produce the first USDA-certified organic pharmaceutical.” https://t.co/9US1Ftcs8z ...

The biotech veteran was involved in the development of several approved drugs, likely making him a reassuring choice for a pharmaceutical industry that’s facing pressure from the Trump administration to lower prices and move drug manufacturing to the US https://t.co/ZnLX4JBobH ...

Weed Rx: “Pharmaceutical cannabis is the biggest future for cannabis,” says Joel Stanley (left, with his brother Jared), founder of Ajna BioSciences, which has a botanical drug in the FDA pipeline. https://t.co/X1ri3kksyx https://t.co/X1ri3kksyx ...