BridgeBio Pharma, Inc. Common Stock Morgan Stanley 24th Annual Global Healthcare Conference

Yeah. Happy to talk about that. Sean, first of all, thank you for hosting us, and thank you to all the investors for joining us today and across the day as we try to tell our story. In terms of China, we see that as an opportunity, and there are some risks, but we do see it mainly as an opportunity. I think the speed of innovation is much faster. We do have active relationships with investigators and universities in China. A lot of it is done through our sister company, GondolaBio, which focuses more on the early-stage part of the genetic disease R&D playbook.

I think that for us, in terms of opportunities, I would say the ability to quickly set up trials and run trials, the ability to partner with an even broader number of academics, as well as get genetic data from a much broader population. Those are all opportunities. I do think that there are some threats in terms of protecting our IP, and we do think about that. We think about the fact that any time we publish a structure, someone can easily then make the molecule. So we are thoughtful about that. But on balance, we view more people trying to help patients with genetic diseases as better for patients in America and patients globally, as well as for our business.

Yeah. We view AI in two different buckets. AI in terms of increasing probability of success or telling us what's the next big cancer drug is not something which we think is going to be that helpful. But I think that there is a ton of operational details in terms of running a biotech company which AI can definitely make better, and that even in our own company, we see AI improving. I think the three examples that I can give you are, number one, in the commercial setting, whether it's in terms of making it easier for folks to write letters of medical necessity, whether it's analyzing data, as well as if we think about overall surfacing information to our reps in a more insightful manner. Those are all areas where AI is helping.

In terms of biostats, it does help a lot in terms of just code generation. That's obviously a big use of AI and probably the most validated use of AI. Then I think that we're also looking at other steps in the business, whether it's site activation, enrolling trials, how can we use AI to speed up those elements? Those are a little bit earlier stage, but I would definitely say it's having an impact now, and I think it's going to have a bigger impact in the future.

The answer to that is all of the above. But I think we announced a partnership with the U.S. government recently. For us, we've been working closely with the regulators, whether it's on the FDA side. We're very pleased to say that the FDA considered their decision on encaleret and gave it priority review. Whether it's on the pricing side, we announced a partnership with the U.S. government on that. We think that we're able to find ways to both help patients as well as preserve our ability to do innovation, and that is very exciting to us.

We are thrilled with how Attruby's launch has gone thus far, and actually, we are even more thrilled about what's to come in the future, given all the datasets which have come out. In terms of what we think is driving that growth, let me break it down near term and longer term. The biggest driver of Attruby's growth is, number one, increasing first-line market, as well as increasing share of Attruby in that first-line setting. I think both of those things are big tailwinds for us, and I do think that the kidney-protective data, the EFC data, as well as the real-world evidence which is starting to come out will all help Attruby gain more share in the future. And the drumbeat of data from all companies will expand the first-line market in the future.

I think that it will take, as we mentioned on our second quarter earnings call, it'll take about 12 months or so for all of this data to percolate in the community and then start to change prescribing habits. In the near term, we do see steady expansion of Aprovi of somewhere around $25 million to $30 million quarter over quarter in terms of sales growth. And I think that longer term, we've never been more confident that we will get to $4 billion in peak year sales, and maybe there is even some upside beyond that.

Yeah. Since we're not giving annual guidance, we haven't broken down U.S., ex-U.S., all of that. But obviously, a majority of the sales that we book do come from America.