David Rubenstein, Alex Gorsky Johnson, Chairman And Ceo discussed on Bloomberg Best
Later this hour. We'll hear from Whole Foods co founder and CEO job Mackey on the company's merger with Amazon. But first the race for a cure or vaccine for covered. 19 is one of the biggest stories we've been covering Harriet Bloomberg and Johnson and Johnson is one of the drug makers involved. David Rubenstein spoke to the chairman and CEO of Johnson and Johnson. Alex Gorsky on the David Rubenstein show Peer to peer conversations here, David begins by asking Gorski about efforts to beat the pandemic. I think it's in the public's best interest that we're seeing this kind of public private partnership. I mean, there were. It would be very difficult for us to make the kind of advancements and accelerate the timelines that we're doing right now. Were it not for the partnership that we're seeing? Not only in terms of funds being provided but in terms of literally the day to day interactions that are taking place between regulators and scientists across many of these platforms, you know, in our case from the very beginning, we made a pledge that we would do this on a not for profit basis. And yes, we are working with the government. We've except the government funds. But we also recognize that is Johnson and Johnson, the world's largest healthcare company. That's important for us at this very unique time to do it on a not for profit basis so that we can give as many people access around the world as possible S O. That's the approach that we're taking. Now there's a fear in some circles that wealthy people will get the vaccine quicker than people that are not wealthy and you have with other CEOs and other health care officials and the bill mill in the Gates Foundation, signed the letter essentially saying, You're committed to making certain that it doesn't go only to wealthy people and only the people in the United States. Can you explain why you wanted to have that letter and how you're gonna make sure that happens? Look, we're the only way we're going to beat this virus is if we have global distribution, and no one is safe. Frankly, if The entire world is not provided access. And so we are absolutely committed to doing this in a very ethical in a very just weigh on Do. We worked very hard to make agreements clearly with governments like the United States and Europe, Japan, the developed countries We're also working hand in hand with other pharmaceutical companies, the Bill Melinda Gates Foundation to ensure the developing countries also have got access. So you as the CEO of the largest healthcare company in the United States. I think it's the 10th largest company by market cap in the entire United States market value of about almost $400 billion. You have to be very careful because I think it would look bad, wouldn't it? If the CEO of the largest health care company got the virus, So what do you do to protect yourself? Well, David, look. Yeah, I think all of us have a huge responsibility to take care of ourselves and Certainly those of us like myself fortunate to be in this kind of a position where we have responsibility for others have got to make sure that we put the safety of our employees are friends of our family's first and everything that we do. And look that starts with the simple things and I think one of the things that we've learned most through this pandemic is by making sure that we're using social distancing that were wearing masks that were washing our hands that we're doing. Everything we can to prevent the spread of the virus are the most important steps that we can take to actually bring an end of this pandemic. And dealing with it for the long term. Now vaccines of what everybody has been focused on. But there's also therapeutics. So for people might have already contracting the disease or already have the virus eyes there any progress being made on therapeutics that might help people who already have the the disease? David. That zah great point. There is no one silver bullet here, and I think what is really important for everyone understand? It's going to take a holistic approach is likely we're gonna be dealing with this. Not only is a pandemic, but it's going to be endemic. For several years going forward. So in all likelihood is going to take a combination of therapeutics for patients who are actually sick back scenes to present it, prevent it from happening in the first place, and Last but not least the hospital protocols. I think you've done a great job still much more work to do in terms of reducing actual mortality and morbidity. Hindsight is always, 2022 said. But looking back. What would you say that the CDC or the FDA or the White House or HHS should have done differently? Is there anything that you would recommend that with somebody in the future that they do differently if they were overseeing this kind of pandemic response? Well, you know, you're right. We look backwards. Things always seem clear. And, you know, I think there's a few lessons and I would also say that almost all of us have underestimated the dramatic impact of this outbreak. I mean, if you would've asked most people eight or nine months ago if you would ever see The kind of impact that were, you know, seeing around the world right now, if you would have gotten it right, But I think there are lessons to be learned. First and foremost, I think is the important statement of global public health and I think going forward we're gonna understand much better that you know if we don't have global public health security We don't have national security. We don't have economic security and we will not have security a society. So I think the importance of being prepared making sure that you know we've got the kind of protocols in place that we have certain products preposition. And frankly also move from a maniacal focus on efficiency and effectiveness in certain cases to one more of resiliency and sustainability, particularly for these kind of situations. You've been listening to Alex Gorsky Johnson and Johnson, chairman and CEO on the David Rubenstein show, Peer to peer conversations and coming up. Why being CEO of Change A is the best job in the world most days. Onto the spell. A greedy this.