Alright guys so today I'm reviewing Performance Lab. Now Performance Lab is actually the company or the brand. Now they actually sell a bunch of different supplements. What I would say is the ones I use specifically are the multivitamin, the mind tablet and the energy tablet. However the mind one I've recently stopped using because I have decided to go with MindLab Pro as the main Neutropic, which is actually sort of the same company by the way. OptiNutra make the same supplements. Performance Lab is just like a subsidiary of MindLab Pro and OptiNutra. So specifically what I want to talk about is with Performance Lab. They do all sorts of things. They do energy tablets, sleep tablets, cognitive enhancers, multivitamins and even probiotic for digestive and gut health as well. The one that I've used the most is the multivitamin and I have definitely felt like a change in my overall health. So the thing is with multivitamins in general you can't really feel the effects of them. It's not like a cognitive enhancer in the sense that you will feel it sort of come on. But I have in general felt overall a bit better. What I can say is the ingredients that are actually in the multivitamin are really good. You know it contains a full range of bioavailable B vitamins which is very important especially for plant based or vegan people. It's a very good thing to have. Very important for energy and you know it's like a precursor for a lot of different types of energy and for many types of neurotransmitters as well which is quite important. So I'm pleased that it has a good range of B vitamins. It also has things in high enough dosages that they are going to be effective. A lot of multivitamins just don't have the right dosages. They don't have enough of each ingredient. But with Performance Lab Pro, sorry with Performance Lab Whole Food Multi, they do have enough and it's known as... they contain the ingredients in what's known as Biogenesis which is their sort of way of saying more bioavailable. So this means they can be absorbed more easily by the body. They're in the more natural form as opposed to the extremely processed chemical versions that a lot of multivitamins include. So that essentially just that means that the body is going to be able to use more of this stuff. That's more important than anything else. Overall I'm very very impressed with the multivitamin. I'm also very impressed with the energy one. The energy tablet is basically just contains a C-to-L carnitine which is like a precursor for the body, like a building block of energy. So it's an important amino acid to have. It also stacks very well with the other things. You know I stack it like I say in my other video. I stack this with Optinutra. Sorry I stack this with MindLab Pro by Optinutra. I also stack this with Optinuro which is this. So I stack it with a bunch of different things and I find it really does work well. So what I would say most important thing about above everything else, get a multivitamin. Get this multivitamin. It's really good. It's really effective. It contains the ingredients but more importantly they focus on making it bioavailable. So your body can actually use the ingredients. So important. A lot of multivitamins and supplements and even cognitive enhancers and utropics. They just don't have enough ingredients or they don't have them in a bioavailable format. Meaning the body can't use the stuff. You know you're just going to urinate it out after a few hours. That's it. Whereas this in particular performance lab they have a dedication to making things bioavailable, making them more natural and more easily absorbed. There is also a benefit to if you're considering like MindLab Pro versus the performance lab. What I would say is MindLab Pro is like the holistic approach. MindLab Pro contains all the things, all the cognitive enhancers you need along with the multivitamin who have a very well performing brain. What you can do with the other things and the reason they've actually created performance lab in general is because you can now decide which parts of it you want at which times. Like for example say if you want to have lots of energy on one particular day you can take their performance lab energy tablet. If you want to have only mind focused you want to sit down in an office or at your desk and focus on something. You can take mind or you can take MindLab Pro. It works more or less the same. If you need to focus on your digestive health and your intestinal tract and things like this you can take their prebiotic as well. Now that's not something I've experimented with so far. They did send me one. They did send me a prebiotic but I've not actually experimented with that yet because I'm still doing a bit of research on how these things work. I don't really feel like my digestive health is bad. I feel like I eat quite a healthy diet and it's probably fine. However this every little bit helps but I want to just research whether I actually need this one in particular. I might not need it. The same goes for the sleep tablet. I've got the sleep tablet here from performance lab. The ingredients are good. It contains the right ingredients that are conducive to making you fall asleep faster but I haven't tried it because I personally fall asleep instantly. As soon as my head hits the pillow I'm asleep pretty much. This comes from meditating and having a healthy lifestyle in general so I don't really feel like I need to have any sort of aid for my sleeping in general but the ingredients there are good. The ingredients are good. It contains magnesium, it contains L-tryptophan. Tryptophan is a very good thing to ingest. It makes you feel happy and it can make you feel relaxed as well so if you take this at night obviously it's going to make you feel sleepy. It also contains Montmorency cherry tart extract. I think I'm saying that right which is also a sleeping aid, a natural sleeping aid. So the ingredients are good. It's going to work in general. The ingredients and the dosages are good enough. However I don't feel like I need to do that. I feel like I sleep well enough already. So if you're interested in performance lab in general there are a few links in the description. I'll try and link to also MindLab Pro because let's be honest like guys if you're looking for just the limitless pill or it's something that's going to be a cognitive enhancer that's going to make you focus better and give your attention to whatever you're doing. I would suggest going with MindLab Pro. To be honest you know take a multi-vitamin by all means performance labs multi-vitamin I so far haven't found one that is better than this you know and when I say better I mean I haven't found one that has the right ingredients, the right vitamins and nutrients at the right dosages that is also the most bioavailable that it can be you know the most easily absorbable. So I do like performance labs multi-vitamin it's definitely what I use from now on what I have been using for the last few months. MindLab Pro is a more holistic approach very highly recommended but I would probably suggest stacking it with the multi-vitamin and if you want a bit more of a boost if you want a slightly more noticeable caffeine related boost I would suggest going with something like optinutro, optinuro and like I say optinuro is a cognitive enhancer it's a neutropic it's going to make you feel focused and able to concentrate on things however it does contain caffeine so bear in mind that if you take this and in fact if you take all of these things you and then you have a coffee it's going to be a potentiator it's going to make the coffee much stronger than it would normally be so just bear that in mind it can be a bit overwhelming anyway like I say if you want to get any of these things links are in the description and I'll see you next time done. Thanks for watching guys this video and this channel was supported by my patreon followers please consider giving just a dollar a month to support this channel or just click the links in the description you'll find links to various lucid dream products articles techniques and tutorials if you did enjoy this video please click the notification bell and subscribe and I'll see you next time why are you still watching this you should have clicked one of my related videos by now right or subscribed or gone onto my website or something like that


Hey, everybody, it's Spider Steve. Welcome to the first episode of The Amazing Spider Steve. Hope y'all enjoy. Doot, doot, doot. Welcome to the world's biggest spider. What? I gotta check this stuff out. Doot, doot. Wow, look at all these guys. That one's huge. I wanna take one home as a pet. Doot, doot. Look at this guy. Hello? Anybody home? Run! Run! Get out of here! I gotta get out of here. I gotta find some help. Oh, I think I might be poisoned. This doesn't feel good. Oh, gotta get to a hospital. Yeah, oh. What the? Why are my hands red? This is, something is not right. Oh, I don't, I don't feel, something's off. I don't feel good. What the? What was that? What's going on? Web's out of my hands? My head didn't hurt so bad. Maybe I can figure this out. Oh, I think I get it. Do I have like spider powers or something? Shooting webs? Let's just check this out. Oh, hand sticks to the wall. Oh yeah. All right, let's try this again. Can you see my house? Woo! Yeah. Spider Steve! Spider Steve! What can I do? What can I do next? What can I do next? See what all of the powers I've got. So very far I climbed buildings. Thanks everybody. I hope you enjoyed the first episode of Amazing Spider Steve. Subscribe and like if you enjoyed the video. Stay tuned.


Everybody forced here ripping 2020 update sapphire baseball Stephen H 2020 tops chrome update sapphire edition here. There we go Let's see some nice rookies a lot of good update rookies in here, but also a lot of nice A rosaranna has his first like raised rookies. So now let's see Let's see Russian might have his first rookie in here. We're just selling. I can't remember All right, we're waiting victory or freeway victory choir Andy Burns rookie three card pack interesting christofensky race harper jeff hoffman We'll have one at some point zack cranky a Magnus sierra big poppy rockin and philly Mike trout tether wade anthony rendon and a brandon dixon auto coming up I believe got christian orroyo as a guardian interesting daniel hudson travis lakens rookie auto the auto there And a mike newberry or jake newberry rookie alex plan dino miguel cabrera brandon mckay rookie debut in an alex wood Ola scarcia. Oh, that's a red. That's a red after max scherzer It is a nick denny rookie Numbered four of five red rookie nick denny nice red rookie Tough pull in that clayton kershaw active leaders wade labanque that was a paraza josh taylor rookie And a kyle higashi yoka Leave you're supposed to get two parallels there and there was only one I'm gonna send the box and wrapper you'd have to get with tops I'm gonna probably I don't know if that's the explicitly is that but I think you're supposed to get two Usually in sapphire it is but it has been a while since I've ripped 2020 updates. So that might not be true, but you might be due Actually parallel. Thanks again for the order steven. We'll get these out to you


3147 1418.2. Suboy. Charge. Chief. Suboy. Charge. Chief. Suboy. Load it. Charge, three, two, one, zero. Let's go, let's go. Good job. Two one zero. The budget three, two one zero. Quadrant four, nine, two, four and one. Quadrant four, nine, two, four and one. Charge. Chief. Suboy. Charge. Chief. Suboy. Charge, three, two, one, zero. We dropped. We dropped. Suboy. Suboy.


I'm going to press record or Debbie already has fantastic things, Debbie, and we're going to hand over to you. Take it away here. Oh, you're 20. Thank you so much. Good afternoon, everyone. I'm Tareem. I'm a learning technology researcher at University College of State Management ready. Today, my talk is based on the book chapter that myself, Professor Andrew Adams, Professor Shirley Williams have recently published in the book, Opening Education, Theory and Practice. The book chapter is titled, Open to Inclusion, Exploring Openness for People with Disability, and you can find the final version from Research Gate, and I've given the link at the end of my presentation. In this chapter, we explore how openness have been viewed over the years, opening the flow of capital, technologies, goods and services with increased globalization, opening higher education with the Open Universities movement, opening access to content with open educational resources and open courses, all of that. We also ask you to think about open as opening up to inclusion, accessibility, especially for people with disabilities. My talk will be more or less aligned with these areas, but first of all, I want to tell you a bit about my interest in accessibility. In 2013, I was part of the University of Reading team, offering begin programming, build your first mobile game, MOOC, on the new, then new platform, FutureLearn. The course was very popular, and it ran twice a year, with many thousands of participants. The course used a billiard-like game to introduce programming concepts. I was the lead facilitator of the MOOC, managing a small team of student mentors, supporting the learners on the course. One day, there was a post from a lady who said that she could not see the ball that is used in the game. She was colorblind. She could not differentiate the ball from the background because the way we have presented it. She said, after programming the game, that is, for the ball to move in a certain way, she had to ask her boyfriend to check whether it was working correctly. She was trying to access learning materials, but the way it was presented, it was not accessible to her. Later, I learned that red on green is a difficult combination for many colorblind people. In this instance, it was very easy for me to correct to help her change the color of the background and the color of the ball by replacing the image files. This experience of virtually meeting a learner who had a difficulty in accessing learning materials made accessibility real for me. And this is where my interest in accessibility started. Accessibility can mean many things in different contexts. For example, it can be used to mean access to internet in some contexts. Access to water in other contexts. Oxford Living Dictionary defines accessibility as the quality of being easily reached, entered or used by people who have a disability. This is what I mean when I say accessibility. People with disabilities, whether it is long term, short term, age related or any other, can use the website and services. There are digital accessibility standards for a very good reason. And most widely used is the Web Content Accessibility Guidelines in its 2.1 version. And the 2.2 version is now made available for the first public working draft. There are three levels, A, double A and triple A, which is the goal standard for accessibility. In the UK and many other countries, there are laws to stop people from being discriminated against when accessing physical or online products or services. So accessibility of online content is important to not discriminate against disabled people. Moving on to the next. Open content can be created by anybody with an interest. This could be the world authority in the subject discipline or a complete beginner with an interest. People who are creating these content may be knowledgeable in their subject area. But are they aware of creating content that is accessible to people with disabilities? If you carefully read the quote I have shown here in this slide taken from Andy Lane's work in 2012, it talks about socially excluded communities who do not have much access to technologies or who may not be able to cope with technologies and new ways of learning. In this presentation, I am going to explore with you what it may be for people who have disabilities. Like in the example I showed you at first, how these people, even when they are able to use and cope with technologies, could be barred from accessing open content due to their disabilities. As I touched upon earlier, there are legal frameworks to provide equal opportunities for people with disabilities. In the book chapter, we look at several countries and their legal frameworks. However, the legal framework on its own is not going to provide the solution to opening access. I will talk about this a little bit later. One may think if we have laws and if they are enforced, the problem could be solved. However, it's not that simple. In the United States, there are quite a few cases with many high-profile cases such as MIT, Harvard University of California, Berkeley being sued for accessibility reasons. However, when people are creating their own open educational resources, these do not come under the enforceable laws. My slide looks a little bit different, but anyway, there is a big ethical question. There are about 270 tube stations in London. About 79, 78 of them have some form of step-free access. Some of the tube stations cannot be retrofitted for accessibility. One-fifth of disabled musicians have been forced to cancel gigs due to lack of access according to Attitude is Everything survey. Similarly, out of so many OERs, only a very few are accessible. In the case of University of California, Berkeley, you may remember in March 2017, they took down a lot of freely available video and audio content because it was way too expensive for them to caption. So how can we solve this problem? Should we charge a nominal fee to access resources that can then be used to make them accessible? What about this nominal fee? What should this nominal fee be? Remember, huge part of the developing world population live under the absolute poverty line. A nominal fee for us may not be a nominal fee for them. Then we replace one access limitation, in this case disability, with another access limitation that is financial means. If an OER is used in a formal course, the university or institution will provide accessibility support. If there is a problem, you can ask the university or institution you are studying with to provide you with accessible versions. Even if it is a MOOC or a free course, from the cases in the US, we know that you can get accessibility support. If it is not part of a formal course and you wanted to access, it is the legislations are unlikely to cover that kind of OER use. But many OERs are created by individuals and in this case there is no help from legislations. If institutions are using OERs to make them accessible, they could then provide these best to the OER repository so that the resource becomes accessible to all. Quick search on Merlot database showed about 450 OERs having an accessibility information out of about 80,000 resources. So you can see the scale of this. What we see is that if OERs are created by an institution, the institution can be held responsible for accessibility. However, when OERs are individually created and shared, these are not governed by equality laws. Personas is a representation of your websites or systems intended users. It gives focus to the intended user when designing your system or your website. Personas help us to replace the abstract user that you think of with the presence of a specific user in the design process. In our chapter, we use four personas to explore accessibility issues with OERs. So this is Khalid, 18-year-old champion swimmer, college student who is into computers and gadgets but is also deaf. Then we have Sophie, a 25-year-old musician and a trainee accountant who lives in supported accommodation after losing her site. We have Arun, a 55-year-old software engineer who took early retirement due to MS and now using an adapted computer. Finally, we have Chamary, who is a 45-year-old childcare assistant whose promotion is depending on English and Maths qualifications. Chamary has dyslexia. So what challenges will they face in accessing OER content? Khalid will need captions and or transcripts as an accessibility aid for video audio content. Sophie will require keyboard accessibility and screen reader accessibility of the materials. She will leave video descriptions and alternative text for images as a minimum. Arun on the other hand will need keyboard accessibility. Chamary will need simple organizations, illustrations, less text, ability for text resizing and perhaps line spacing, text-to-speech. For example, a scanned image of text as a resource will not be accessible to her either Sophie or Chamary because screen readers cannot work on scanned images. Unless you have OCRed them, how will they create OERs? Unless captions, transcripts available, Khalid is not going to be benefiting from a video or audio content. So Khalid is unlikely to create audio content if we ask him to create an OER. Unless it is screen reader friendly, Sophie is not going to be able to navigate a resource. However, she will be able to use audio resources. Keyboard accessibility will be the primary concern for Arun. As for Chamary, textual content will present a problem and she is more likely to go with audio or video content. Imagine if our learners were each to create an OER without being aware of each other's accessibility needs. Being a learner with disabilities, would they be able to create more accessible content? They would be working within the constraints of their own disabilities and not likely to use the functionality that they themselves have difficulty in accessing. They are more likely than not to create something that is accessible to them. But doing so, they may make it not accessible to others. For example, if Chamary creates more visual OER, it will not be accessible to Sophie. If Arun creates all textual material, that is likely to present a problem for Chamary. Likewise, you can see how their limitations, if they are only aware of their limitations, would create a problem for each other. This is where accessibility awareness comes into play. So even if you are an assistive technology user, you may not be able to create a fully accessible OER unless you are aware of wide variety of accessibility issues. This is why we want to emphasise the importance of accessibility awareness and best practices. Open content can support open to inclusion. There are good MOOCs that address accessibility issues. On future learn digital accessibility, enabling participation in the information society by University of Southampton, accessibility designing and teaching courses for all learners in higher education on Canvas are some of these courses. You can see here, we have adapted University of Hull's accessibility posters that they had made available via Creative Commons licence. It is available with Creative Commons licence for anyone to use. Feel free to download it and use it if you think it will be useful to you. What I want to leave you with is the fact that open content can support open to inclusion by raising awareness. You can download our book chapter from the given link here and explore with Khalid, Arun, Chamary and Sophie how the support for them will differ in different contexts. Thank you. Thank you very much Therindu for an amazing session and I hope I can now invite everyone in the room to put their hands together to give a very warm thank you to Therindu for an amazing presentation.


So this is a quick video to give you a little bit of an understanding for how you're supposed to get your measurements off of these parallax images. So there was a few videos that showed the setup and the concept of parallax and then I took a series of images with the stand at different distances and from the right side and the left side. This particular image is the 50 centimeter which is your stand position and the left side and then the zoomed out you can actually see that we're looking from the left side stick. You can't quite read on here although if you were to zoom in you can kind of a little bit see where you're at but I don't expect you to read that. The side where you need to zoom in is up here at the top and you might have to scroll around a little bit. So the meter ruler over here is showing you your measurements and they're a little blurry but I've got 40, you've got 50, you've got 60. You can't see 70 but it's kind of behind the sticks then you've got 80 over here.  Now you're not going to be able to see an exact number here but you're going to estimate and again they're a little blurry but if you count that can help you. You've got 60, 61, 62, 63, 64, 65, 66, 67, 68 is kind of at the edge on here and then there would probably be a 69 and a 70 and then probably a 71, 72. So you're going to estimate and somewhere in here between 68 and 71 is going to be the measurement you're going to use for the left side position. Now I would probably estimate this one at about 69 but 70 would probably be an okay value too. Here's a range of values I'll accept for each image. So when you look at each one of these images and again this is the instructor view, yours will look a little different. You click on each one of those images which are high resolution images and then you can zoom in to get an estimate for where the stick is crossing the ruler. Those are the measurements you're going to use. I'm not going to do every one of them for you. If you have any issues zooming in looking at the images or understanding what you're seeing please contact me.


Daniel Jones is young and enters the NFL with plenty of experience, but he sorely lacked efficiency in college. Jones' 6.9 adjusted yards per attempt his final year was easily worse among the top quarterbacks in this year's class. It was also the best mark of his college career after sitting at 6.4 as a Redshirt Freshman and 5.5 as a sophomore. Jones shares plenty of similarities to Kyle Bowler. Both were young and experienced coming out, but struggled to post solid numbers in college. Because of this, Jones will meet a lot of refinements once he reaches the next level.


In this presentation, we're going to enter a transaction related to a pledge in our accounting system. Get ready, because here we go with Aplos. Here we are in our not-for-profit organization dashboard. Let's jump on over to Excel to see what our objective will be. We are in Excel. We're in tab number three. We're now recording a pledge. Now, the pledge is going to be similar to the contribution. However, we haven't got the money yet, so it's a promise to pay. If you compare this to a for-profit type of organization, the contribution would be similar to us doing the goods or services at the same point in time that we get paid. You can imagine giving a sales receipt, like at the register at that point. And then the pledge is going to be similar to us doing a service or providing goods before we get paid. And you can imagine sending out a bill or invoice. So typically in accounting systems, we would call that an invoice that we would make. That would mean that we did work and they owe us money. Now, the only difference here is they kind of owe us money, but not because we really did work for them. They owe us money because they just simply promised to pay us the money and it's a not-for-profit. So remember, again, the difference here being there's not a transaction directly between us and the client or customer or donor or pledger. Because we're not doing the work directly for them, they're paying us to do work for somebody else, the community. So therefore, it's a little bit different in terms of our collectability, possibly, on the pledge. Since we don't have a transaction really that happened, as we do have it with a for-profit organization, and therefore have some recourse if they don't pay us, typically. But the transaction is going to be much the same. If it was a for-profit organization, it would be done usually with an invoice. Here, we're going to use a pledge type of documentation. So we have a contributions receivable then going up. So we got that's an asset type of account. So we're going to have to track who owes us the money. We have the contributions with restrictions, which is basically our revenue account. However, we're going to put it as restricted this time because we're going to say it's a time restriction to note the fact that we don't yet have the money at this point in time. So that'll help us to have that time restriction to not get too excited on spending the money until possibly we get it. In any case, we have the contributions. Revenue is going to go up, and that's an asset account. We're also going to have to track this by contributor. So we're going to have to track this by who's promising to pay so we could try to collect on it. And then we're going to go down below. We got another revenue account, but we got the revenue account now being with restrictions. So now we're adding that restrictions within this format where we only have like one column at the end here. That means we need two accounts. However, if we then go into our statement of activities, we want to break that out into its columns here. And those that statement of financial position, we want the statement of activities down here. Here's the statement of activities. And so that's going to be with donor restrictions without donor restrictions. So now notice this contributions line, basically our revenue line now being broken out between columns, these two columns. So I don't need, in other words, two separate accounts over here. I just need one account that I can break out between these two items. And whereas if I only had one column, I would need to be representing those two items with two columns as we saw on the trial balance. So how are we going to do that over here on Aplos? Let's go take a look at it. Let's bring us on back over. Now, there's a couple of different ways we enter this information into the system. So let's take a look at them. If we go to the donations tab up here, we have the donations tab. And then under the donations tab, you see pledges. However, if we go to this pledges tab, that's actually going to track the donations, but it's not going to be recording them on the financial statements. So remember what we said is we're going to be entering this information, but we'll enter it as a restriction, as a restricted item, as a time restricted. So it's going to be on the financials with a time restriction. On the other hand, you may say, OK, I'm not going to put this on the financial statements for the not-for-profit organization, but still be able to run reports to be able to track that information on who owns the money. And if we're going to put it in the books, as we're going to do here, we're going to be then using the fund accounting and the fund accounting. We're going to go to the accounting item dropdown, I'm sorry, the transactions dropdown, and then take a look at the receivable here, which will basically create kind of like an invoice in a similar process as you'd see for a for-profit. So let's test both of those out, just so you can see the difference. I'm going to first start with the donation here. I'm going to go to the donation tab and then to the pledges. I'm going to create another pledge. And this will be a similar process as we did before when we entered a contribution. And it'll be looking like a similar form. We're going to use an item in order to enter the pledge form. But just remember, when I enter this pledge form, it's not going to show in accounts receivable, but it will track the pledging information. And then we'll enter another the other way, which will show it in accounts receivable. To do this, I would have to set up an item or like a purpose over here. So I'd go over to the purposes. And then I'm going to be saying that I'm going to add another purpose. We're going to add another purpose and the purpose will be a pledge. So it's going to be a pledge and I'm going to say pledge. And then on the accounts down below, I'm going to choose pledge. Now, if it was to be recorded, if it was going to result in a recording, it would be the contributions account that is restricted, restricted contributions. Then the fund would be restricted. And then we would want the tag here, the tag being a time restriction. It's going to be a time restriction. However, again, it's not going to record this transaction. This would be the normal function of this transaction. But the pledge, again, isn't going to be recorded on the actual financial statements. It's just going to be tracked as something that we're going to use. And then we'll record it the other way. So I'm going to go ahead and say save then. So there is that. Then we can go to the pledges tab, pledges tab donations, and then the pledges tab. We can save the plus button to add a new pledge. So we'll say plus in order to add the new pledge. And then I'm going to put up top that we have, I'm just going to call it pledger one. Now, I've already set up pledger one here, but pledge or one is who we've got. Pledge or one. And then the purpose is now going to be a pledge. So this is going to be the driving factor, which typically would drive the transaction or the accounts within it. Then it's going to be the 108,000. And then we have the January, January, number three, January 3rd, and then the due date. Now note, you could have like a, they could pay us in payments like weekly, monthly, or quarterly, or if they just have a one time payment, we keep it at the one time. I'll keep it at the one time for our purposes. Then the due date, when's it going to be due? When do we expect this by? So if it's on the third, we're going to say, I will give them till the end of the month. Give us the money. All right, so there's going to be that. So we're going to record this, I'm going to say, save and close, save and close. So there we have that. Now, just note, again, this one's not actually going to show up on the financial. Let's check it out though. Let's go right click up top. Let's create our reports and I'm going to right click and duplicate this tab. So I've duplicated the tab. I'm going to go to our reports. Let's open up our good old reports and I'm going to be taking a look at the balance sheet and income statement, but we're going to look at the balance sheet by fund as opposed to the normal balance sheet. If it's not up top for you, that's because you don't have a little star next to it down here, which we'll put it up top. Like to look at the fund balance sheet because it's more fun to do so than just the normal balance sheet. We're going to go back to the left and it's more applicable and we'll right click on this tab again. And then we're going to open up the income statement also by fund. So duplicating this tab, we're going to go to the reports then within the reports. We're going to be going down to the income statement by fund. Then we'll change the dates. So I'm going to go back to the balance sheet. Let's hit the good old drop down here. We'll hit the drop down. We'll bring this back to January 31st, January 31st. That is it. We'll say done. And so there we have it. So notice there's no accounts receivable here. It's not showing the AR. I'm going to go back to the prior tab and run the reports. I'm going to say for the year to date, this year to date because that's just the easiest thing to do. So this year to date. And then we'll run that report. So there we have that. And we don't have the income that would be in the restricted income. So that's what we tried to set up, but it's not here because again it's going to track it in another way. I'm going to right click on this tab up top again. I'm going to go back to the first one, right clicking on this tab, duplicating it once again. And then if we go to the reports, let's go to the reports on the right side. Now if we'd run another report, which is going to be tracking the pledges, so it's not on the balance sheet, but we're going to say I don't want it on the balance sheet, but I want to be able to, of course, track it, be able to track the pledges. So we could say, all right, where's the pledges reports? We're going to go down to the pledges by contact. So we're under donations. We want the pledges by contact. So I'll go to the pledges by contact. And that's how we can basically track the pledges. So there is the actual pledge. So it's on this report. This report doesn't tie into the balance sheet because it's an under this method, it would not be on the balance sheet. And if I go back to the first tab then back to the first tab, and then we were to go to the people. So we go to people up top, and we wanted to take a look at the contact list. We can also see it here as well. If we go into the pledger, pledger one, we can of course track that information and it shows here as well. All right. Now if we go back into the donations, back to the donations, and if you were using this method, if you were to use this method, then you could say, well, what happens when they give us the money? That's when we're going to record the actual contribution. So on the financials, we wouldn't be recording the pledge, but we would be recording the contribution that we received from it. So we'd have the pledge, we track it, not recording the AR on the financials, but then be able to record the contribution. Note if you were to then go to the contribution tab using this method, create another contribution. We're not actually going to finalize this one, but just to show you the process. Then you can go up top and you'd say, all right, now I've got the pledge. Pledger one. I'm going to choose Pledger one and it'll actually then have the little drop-down that'll say, hey, there's a pledge that you can tie to it. So then we would select this pledge and it would link to the pledge to decrease the pledge receivable that's not on the balance sheet, but is being tracked and record the actual item here. Once we deposit that money, that's when it'll be normally recorded under this method. All right, so I'm going to close this back out. I'll show you the other method we could be using. So I'm going to, I'm going to delete the pledge. I'm going to go back over to the pledges. Let's actually remove it. So I'm going to remove the pledge. You can delete it by clicking on it and then go into the delete button, which I believe is going to be right there. So I'm going to delete the pledge and we'll enter it into the receivable screen this time. So I'm going to delete the pledge. All right, and then I'm going to go into the accounts receivable. And this time we'll track it through accounts receivable. But we'll put it in as on the balance sheet as a receivable, but we'll say that it is in a restricted category. So I'm going to go into the fund accounting. And then we're going to go to the transactions. And under the transactions dropdown, we want the accounts receivable. So we'll go on into the AR, the accounts receivable. So then we'll enter our information here. I'm going to say once again, pledge one, pledge one. That's going to be our customer name, the invoice date. I'm going to bring this on back to the third again. So January 3rd, the amount was, I believe, 108, 108,000. Let's just double check that, I'm pretty sure. I'm pretty sure of this time. Yeah, 108,000. And then we could have a memo, the terms, we could say like net 15, meaning it's due 15 days from the time period. There's the due date then. Invoice number is populating automatically for us. So we'll let that populate for us. And then I'm going to tap through. We could have a message. If we so choose, then we'll be picking the accounts. Now note, this is kind of like an invoice for QuickBooks. It's got the same name and everything. So that would mean that invoice means accounts receivables going up. And it even tells you here, accounts receivable is going to be going up. That's what an invoice means. That's our kind of like bill to someone else to us. It's an invoice means accounts receivables going up. The other side that's going to be affected is going to be an income account, typically. Now we want to pick the contributions that will be restricted. So I'm going to put it into the restricted. That'll put it into that column. Or that'll put it into that account. And then we'll also put it into the restricted column. So the fund account is going to be restricted. We could put a comment if we so choose, a percentage, and the amount. So I'm just going to put 100% going to this account. So if we needed to break it out then to, for example, different accounts or different funds, then we can use this method. We can add another row and break this out into different categories. And we'll see some of that in a later presentation. So I'm going to then go to the restricted item over here. I'm going to add a tag, which is the time restriction. So the time I typed in time, or you could put in the number of 500. All right, there we have it. Now what's this is going to do? It's going to be increasing the accounts receivable on the financial statements. It's going to be increasing the income, but going into the contributions income, it'll show up at the restricted column on our side-by-side kind of statement of activities. And then we'll have the tags that we can then show being in the category of the time restriction, type of restriction category. All right, let's go ahead and submit that and check it out. And it wants a memo here, so which is probably a good policy. I'm just going to say pledge for the memo, which is probably not a good memo, but that's what I'm putting there. So I'm going to say submit then, try this again and see if it's okay, see if it accepts that. So that looks, I think it did. So now we're going to go and check it out. Let's go into the reports, going all the way to the right to the reports. Let's refresh this screen with a little refreshing icon over here. You could select the entire URL and hit enter, and that should do it as well. And then under the assets, and it's not there. So now normally when it's not there, it's a date issue. So I'm assuming this is a date issue. So let me go back on over and check it out. I'm going to go back on over and I'm in the same screen on the first screen. Here's our receivable of the 108, so it's showing there. If I scroll down, I'd say, okay, what happened here? Here's our detail and here's our pledge. So there's the pledge. I'm going to click on that pledge and take a look at the date that has populated here and I put it in on March. So somehow I didn't get back to April here or January. I want to get to January 3rd, January 3rd. So if you're doing this in real time, of course, hopefully it'll, it would be easier to, you know, you'd be entering it on the same day. So in any case, let's check it out again. I'm going to go ahead and save it again. And then let's go back to the balance sheet, back to the top of the right. Let's go ahead and refresh it again with a little refresher icon. And then see if it's then pulls up for us. All right, there it is. There's the AR. Now it's accounts receivable. If I was to select the accounts receivable, then we've got our detail. Notice we have the note being a pledge. We see it's an invoice here. If we were to click on that, that would then take us to the detail of it. I'm going to go then back, back to the prior tab. There's our information on the balance sheet. Then let's go to the income statement. Let's do the little refresher thing on the income statement up top, a little refresher arrow, so that we're working with a fresh report. And we only like working with fresh reports. Now note here that we have it broken out by accounts. So we have it broken out by these two accounts, but we also have it broken out by the column, restricted and unrestricted. And we now have this one in the restricted column due to it being a time restriction. And that's going to be a similar breakout as we saw over here in our Excel worksheet. Now also note that you may want to, we could use sub accounts to basically combine these if we so choose to combine these two accounts and see if we want to report it externally in one account. I kind of like having two accounts as well as it being broken out in this format, because I feel like that gives me like a double check. And then you may want to combine them together if you feel it's necessary for external use and purposes. All right, let's open up another report. I'm going to go back to this tab where we had our pledges report before. And I'm going to go to our reports. Now we're going to be tracking this, not in the pledges report, but in the receivable. So standard type of accounts receivable report. So in the quick access, I have accounts receivable here. I'm going to scroll down and see where else we have the receivable report. So we'll scroll down to the other reports where we have the aged receivables. Check that one out, aged receivables. We'll open that one up. And then we have pledger one and there's our receivable.  And we should then have our receivable that is current or due between one and 30 days. So there is that report. And then of course, if I went back to our detail here and I went to our people item and we go to the contact list, then we can also find the pledge in here as well. So there's our pledge here. If we were to select on the pledge here, we can track the information here as well. And we can look at the activity that we have for the pledge here. Okay. And then we also want to take a look at one other report and see if we can check out that tag that we made. So now I'm going to go to the reports again. We're going to go to the reports. We're going to go to the reports by tag, tag based reports. And let's take a look at an income statement. So we're going to have the income statement and we want the restricted tag reports because we made a restricted tab. It's in the restricted column. And now we're going to have the type of restriction. So I'm going to pull this one up and we're going to say that the dates up top is going to be this year to date. Let's say this year to date. And there it is. So notice how kind of nice this is and how you would basically show this to somebody. We could see how this is starting to be constructed. If I go back on over to the income statement, we would present this to somebody first and say, here's the income statement. Here's the restricted column and here's the unrestricted column. And you can imagine the next question being, well, what kind of restricted items are there? What is there in the restricted items or what kind of unrestricted items are there? And we'll break those out more, but you could see the starting to be broken out with the use of the tags. So then we say, okay, this restricted column adds up to the 108,000. If you want to know the types of restrictions, here's our report by restriction. And this is going to be a time restriction. That's all we have so far. So we'll add more columns here for other restrictions within this report. And you could see how this will basically be constructed and how we'd want to present this information to somebody else so it's not too overwhelming. It's not all on one report. We're going to give that two column report and then we can give the more detail on some of our other reports that are going to be sorted by these tags. That's going to be it for now. Let's get out of here.


It's a great honor to now in a second hand it over to my my my long-standing and very good friend Mattai Momen who's the global head of R&D at Janssen who's going to be hosting a fireside chat with an individual who needs no introduction and really not just an icon but in many ways the icon of our industry and that's Roy Vagelos. So thank you very much Roy for joining us and Mattai I'll hand it over to you. Thanks very much. Thank you Andy. So I will now attempt to introduce the man that needs no introduction. We have the extraordinary privilege today of hearing from Roy. He's coming to us from his very lovely home on Martha's Vineyard. So just a bit of history Roy and I had the opportunity to meet at the founding of Theravants where Roy was our chairman of the board for many years and CEO for one and he was kind enough to receive a call from a young and somewhat naive but a pretty enthusiastic guy with some ideas for helping start that company and he's been a mentor to me ever since and that was 23 years ago in 1997. So to me Roy embodies integrity wisdom and just a remarkable confidence remarkable conviction. It's always proven worthwhile to listen very carefully to what Roy has to say and learn from him. Roy's had this uncanny ability to see with great clarity where things are headed what has to happen in order to achieve our mission. What our mission is and is not and he's been proven right over and over again. Roy's personal history is known to many of you and we'll go through some of that in the questions we'll get but just briefly he was born in Raleway as a son of Greek immigrants that ran a small restaurant in the shadow of a giant pharmaceutical company Merck and making sandwiches in that restaurant as a kid. I'm fairly sure that Roy or his family didn't quite realize that he would one day run that shadow casting company. He was a chemistry major at Penn graduating 70 years ago now in 1950. Got his MD from Columbia and was at the NIH for the next decade where he did some seminal work on lipid metabolism went to Wash U for another extraordinary decade moved to Merck in 1975 where he was considered one of the best leaders of all time of any business. He ran Merck research labs from 1976 and was CEO for a decade from 84 to 94. So the company under Roy was remarkable in its production of medicines that totally changed people's lives was a brand new way to invent medicines and affected billions of lives. But equally importantly to me and to all of us he did this with style with grace with integrity and Merck was literally the most respected company on the planet among all industries for years. So Roy now let's start chatting a little bit. We're in the midst of a COVID-19 pandemic in which our industry is expected and I hope expected to develop drugs antibodies and vaccines to turn around this terrible situation we're in. But and and we're we have a fair bit of negative sentiment coming from society as a whole the government as we do this this noble thing. That's the setting in which we're speaking today. So first let's just start off with the basics. Tell us a little bit from your perspective of how you got started in your career. Tell us maybe a little bit about the experience at Merck. Yeah well the start was long ago obviously and you mentioned the fact that we had a small restaurant in Raleway New Jersey where I was a soda juror waiter etc. with our customers were largely Merck scientists and engineers. The excitement at that time was antibiotics penicillin of course I've been discovered long ago but was only available for a few years at that time and this is the early 1940s when I was interacting with these people and and so and my family had no knowledge of colleges or universities and so when it came time to go to college I talked with my friends who are our customers and they said I'll learn chemistry so I went to Penn as you mentioned and there I really fell in love with with the science but after after my second year started thinking what I would do with chemistry and talking with friends I decided to go to medical school and at medical school like Columbia I really became very much involved with patient care and the ability of doctors to affect a large of people and so I went from there from Columbia to the Mass General Hospital where again I worked with great doctors that was convinced I wanted to do that for the rest of my life but I needed to go to the NIH going to put in two years of service time because I had been deferred during the Korean War while I was in school and so I went to NIH, met Earl Statman, an outstanding biochemist who was willing to take on an MD as he said you know I've never worked with an MD and I said I've never worked with a PhD and so we agreed to work together for a couple of years and after that couple of years he convinced me to stay on because I would be a better physician when I finished becoming a real biochemist which I did it took me 10 years to to figure that out and after that I as you mentioned went to Washington U and taught medical students and graduate students and undergrads and then I was called by friends at Merck and they said would you consider coming to Merck to head up drug discovery? Now I had not thought about that at all at that point but they said you come and visit now you'll have a free ride back to Raleway and so that my parents were still in Raleway so that was okay and I went to Raleway and I noted that they were not using biochemistry in the way that they might in drug discovery and got working around the labs I noted much at live animal model modeling of disease and and very very brilliant chemist making chemical unrelated to any specific molecule and so I had the notion that if one could figure out what molecule is what enzyme iron channels cellular receptors might be involved in disease and get a chemist to make a structure that that would do something about that particular molecule we might be closer to drug discovery and they were anxious to try it because they had the idea they had run dry on the previous strategy for research some electric targeting sounded good to them and of course I'd never done it but I was but I had been now you know essentially 20 years in biochemistry and so I was very anxious to try to bring that biochemistry there on drug discovery and do something about human disease and so that's what we did and they went from one thing to another as you as you go into a new place how do you turn around a strategy and drug discovery and what I did was spend the first year visiting with every research group of course it was quite a large community group even at that time I walked around and tried to figure out what molecule could could be a target in this disease whether it's being metabolic diseases high blood pressure high blood cholesterol etc and so I worked with them directly and then I thought I should put my neck on the line too and so I had a friend who had been with me at NIH Al Alberts had been with me at NIH and then moved to Washington U and then moved to Merck and I had taught him biochemistry and he and he and I had worked together many years and then the first statin that went on the market in the world lovastatin and while that was that was accepted by the FDA when it was shown that it was effective safely lowering LDL cholesterol people really didn't much pay attention until we did that big out that outcome study called the PORS study with our second statin Simphastatin it was a Scandinavian Simphastatin survival study which was amazing because it enrolled 4400 patients who already had coronary heart disease and high blood cholesterol and treated a double-blind test of course with half the patients on placebo and half on on Simphastatin and they were followed until they had an appropriate number of events which was five and a half years and then broke the blind and they found that there was a reduction in death from in cause of 30% reduction in in death from heart attack 43% and reduction in strokes of 30% all these were of course statistically significant and very exciting and that one experiment revolutionized the treatment of coronary heart disease and of course hypercholesterolemia and at the same time it was the PORS for the laboratory to recognize that molecular targeting because we targeted HMG-CoA reductase of course and enzyme the limiting enzyme in cholesterol biosynthesis but that was the way to go and so that acceptance and recognition that it could lead to important drugs caused I would say a revolution also in the laboratory and people being willing to take this on and then the new drugs just rolls out because they're just waiting we had a new drug for glaucoma two new classes of antibiotics a new way to turn off hydrochloric acid stomach of drugs for osteoporosis it was just on and on new vaccines and so it was it was it was a very exciting time and it demonstrated to me that science is the the only way to get into something that's really important for health and and work with the ideal place to do it because the people we had there who were so terrific thank you Roy you you did indeed lead um you know a piece of thought there that was revolutionary that's target-based drug discovery that's really taken hold and obviously how all of the industry does that today I want to I want to turn to COVID right now we're in the middle of this crisis I'd love you to give us your perspective on the response by the pharmaceutical companies there seem to be both opportunities and watchouts and so what do you what do you feel about how the industry is responding well first of all I congratulate the industry which you know has been carrying a burden of people disliking us I congratulate them on taking on the challenge because there's no place that's just to be done as as it can be done in the biopharmaceutical industry so they've taken on all the challenges I mean and you mentioned them earlier and that is drugs antibodies vaccines specific drugs non-specific drugs etc and they're going at it all hard and I think that's terrific and that's what they do well they they jump on through opportunities and and they go like they compete that's just what you want and then I want them to compete I want them to make profit so I I think the that's a terrible terribly important part of our system and that is people are in fact incented by making more money that's not bad that's good because it brings in a certain kinds of people who have great drive and and so they've done that but a couple of things that I think they could do a little better one is not to not to talk so much about what they're doing of course announce what they're doing so people know that the mechanisms are being covered we don't want everybody working on just antibodies or just or just vaccines but we do want more than one on each class I would like to have you know three or four companies on each class to make sure that we're going to get the best products in the end and and so I I I think less chatter and and continue working like hell and focusing the the willingness to take government money bothered me enormously we never did that at Burt for one reason and that is we wanted to be independent of the government and we wanted to be independent in how we do it and also what we charge for our products and and so we we turned down especially for vaccines request by government to give us money and the it appears that almost everybody is taking some money from the government now why because obviously it reduces your risk and I can understand that but you also give up independence and and that I would not have done but but listen my my own company Regeneron has done it and I can understand and there's an argument on the other side but that's where I would be but I think the if anyone can be looked to to do something about this problem it's the biopharmaceutical industry as was shown previously with the HIV epidemic you know of course 1981 is when it broke and and for a couple of years without a known cause which caused the AIDS and then the virus was identified and then one one reaction of the virus after another as the virus was studied the retrovirus extusion retrovirus reverse transcriptase inhibitors the entry the protease inhibitors the entry inhibitors etc one after the other so that they could be combined to prevent resistance that was magic of our industry we took a disease that was 100 100% lethal and in relatively narrow group of people gay males and intravenous drug users and and and produced drugs for absolutely magical and converting a disease 100% lethal to a situation a chronic infection where people go back to work and live normal lives incredible now could we go further yes I think a vaccine would be better so people would not have to take drugs and and has the gut has the industry failed well no I say they tried like hell they tried very very hard to make vaccines the government pushed the industry pushed but the science wasn't there we just weren't ready to do that and so at some point you have to you have to stop and wait for the science to catch up and that's what they did but this was one instance one instance where where the ceiling was falling in everywhere I can remember when when government was trying to figure out how many more hospitals had to be built to receive the the onslaught of dying the HIV people and and and that of course was all solved by the industry now the price which is resented by some people I don't I don't know what it is they around 25 000 a year I say is a bargain a real bargain I mean we have pricing problems in in the United States maybe globally you might say but but uh some of our drugs are not only well priced some of them are under priced for what they accomplished if you can imagine about twenty five thousand dollars a year for someone who now is a taxpayer making fair amount of money may even be philanthropic as as they have as someone who had had the disease and so yes our our the industry is fantastic at what it can do so um I like especially your comment about less talk more action for for what we're doing hey so what when continuing with COVID for a second like so what one of the observations right now is that um individual governments especially wealthy governments are in fact partnering with companies giving them money either directly for drug development or for advanced purchase agreements for a vaccine or a drug when it when it gets created you know we the J&J organization Merck many of the global pharmaceutical companies are in fact global and we think of drugs that we're making for all sick people on the planet to treat or prevent illness wherever possible so maybe to shift a little bit can you talk a little bit about your thoughts on what our role is as an industry to treat everybody and not just um you know the particularly wealthy and I know that uh Merck is a long history in some of what it's done exactly along these lines well there are of course many ways for different situations and uh at this moment I would say what I see happening is that people are making deals among companies that are inventors and those that have capacity to to produce the kind of molecules that are being invented but the the ones that will be the most difficult the handle will be the uh biologicals the antibodies and the vaccines and and and those are being of course looked at by everyone so the capacity by having many companies come in means that we'll have I hope more than one vaccine more than one antibiotic and numerous new drugs coming along and so they will be it'll be spread throughout the industry and may the best man or woman uh better woman uh uh win win this race because there's going to be a huge market uh for this to be from what we're seeing and and this this uh virus is tough and continuing to take American lives and other global lives and so we really got to do it now so so the investments are being made uh the capacity is being built will it be in time I think if it's done rationally then I would like to see an international organization get together and say you know what do we what what do we have to do to cover global needs and and and and hash it out among the the people who who are right the players and come up with the plans but the uh and I think the world is ready for that I think locally people are perhaps our president but but the rest of the rational world is and and I think people are really thinking in those those terms I don't think anyone is looking at at this disease as a time that they're going to make a lot of money at killing and their new product this because the focus is on on having the drug what it can do safely and then what will be the cost and so the industry would be insane to a company to come up with an outrageous price I don't think that's going to happen I think the pressures on the fact that they are selling to the government and in some instances they're pre-selling before but they before they had the product they're making arrangements to give the first million doses to the government at a certain price the government therefore the the government is already a player and and so so we've given up the we've given up the idea of totally free pricing that the the government is going to be the negotiator and and they will see to it that the prices I hope right in giving an incentive a continued incentive for the for the industry as well as getting the product but in the past there are two instances that Merck stood out while I was there we had the capacity one was the one was the drug for river blindness as some of you may have heard about that that was a drug that was discovered by Bill Campbell leading the group he was our top paracetologist at Merck at the time a wonderful scientist wonderful person and who discovered ivermectin ivermectin is a drug that the target is is a ion channel it it gloms on to the onto the ion channel the chloride channel and excites it so that it's open chloride pours in to the nervous system and paralyzes the parasites and it does is exceedingly low low doses low concentrations and so it was a dynamite drug but it did not did not work with hookworms or tapeworms so it's not going to be used for humans it worked only it worked in all the gastrointestinal worms of animals and so it was developed as an animal drug until 1981 when a couple of Bill Campbell plus Muhammad Aziz a infectious disease doctor who had the notion that this drug might work in river blindness which is a parasite called unconservable vulgulous which is a worm that that is transmitted by a black fly that breathes along river banks and therefore river blindness this this this fly carries the micro fallaria the babies of this parasite go through the black fly he picks it up by by biting an individual with that parasite and then and then within the fly the parasite matures it goes into another person that's bitten it becomes a worm of about 12 inches long in the skin 90 micro fallaria that crawl all all through the body and then get into the eye into the eyes cause inflammation and blindness there were a hundred million people who were in jeopardy at that time and 18 million were going blind at that moment when we started working on this and then Muhammad Aziz went to West Africa took a bunch of patients gave them one tablet first of all took a pinch of skin counted the micro fallaria there were about 20 micro fallaria per milligram of skin and then he gave one tablet to a couple dozen of these people came back in the month took another pinch of skin looked under a microscope but there were none we called in the world health organization experts who came in looked at the data and they said you guys really screwed up I said what do you mean they said if you killed all the parasite the people would be unconscious from side effects because that was their earlier experience with killing the unencumbered convolvulus parasite and and so they walked out on us they didn't want to work with it so Merck undertook the program knowing that the patients were among the poorest in the world sub-Saharan Africa some parts of Asia, South America but a hundred million of them so Merck did a study which was done in Africa about a thousand patients where they counted the the micro fallaria in a pinch of skin at time zero then they gave everyone a tablet and and came back in one month three six nine 12 months each time counting the worms and there were no micro fallaria at one month three six nine at 12 there were very few and so it was clear that we had a drug that would that would work when given one tablet once a year and so we said wow now how do we get it to the patients and the of course the marketing people said they'd come up with a price that would be good well they couldn't and so we turned to governments and tried to sell it to the government they didn't want to buy it so I went to the U.S. government and met with John Whitehead who was deputy secretary of state at the time and and told him about this story he got very excited that Roy we're going to plant the American flag all over Africa I said yes John let's do it they walked out of his office and his assistant said Dr. Vagel that'd be great but you know we don't have any money I said we're talking about a couple million dollars to start the program he said we don't have it in the budget I said okay so we left then we heard from the French we had finished the studies and and the excuse me very we had a file that all over the world of course and not in the U.S. because there's no river blindness but in France they had people from French Africa with river blindness in Paris and so they were very quick to approve the drug we did not have a way to to get the drug out to the people at that moment so over the weekend we decided that and and and announced on the Monday the next Monday that that work would would contribute to drug free anyone in the world for as long as it was required and and I had no idea what we were getting into at that time but I but we had to do it it was the only thing we could do it was a bombshell within Merck the people just love the idea and among our stockholders it was amazingly positive I don't think we received a single negative letter but we received hundreds of letters at any rate so the program started 1987 and last year oh I didn't mention there's another another parasite that we discovered also is susceptible to to ivermectin and that is lymphatic filerizes the the bug that causes elephant eyes also can be controlled with one tablet once a year and so we put them all together so last year Merck treated free cash this 300 million people in one year 300 million people that's unbelievable and of course I've long I've been out of Merck for 25 years but that's the one thing that lasted and it's a fabulous program and then and we did quickly we did another program in in China after we had developed the recombinant the first recombinant vaccine in the world which was aimed at hepatitis B which causes liver cancer and liver disease we found that also that hepatitis B had an incident of 0.4 percent in the U.S outside in China the incident was nine percent and it was the number of two cause of death and in the era where we had the vaccine they had no money the Chinese in the late 1980s could not afford it at half the price at half the cost to make this drug to make the vaccine that sorry uh yes the vaccine the hepatitis B recombinant vaccine and and so in this instance they had very smart people who are capable of doing things so we invited engineers and scientists from Beijing and Shenzhen two different places to come to Merck they came for one year and they spent the time learning to make the recombinant hepatitis B vaccine they uh then they went back to their two cities to build two plants along with our engineers so they went together and they started this on 1994 the two plants were ready to roll to start producing to immunize all the newborns because there's so many people infected that the transmission is from mother to newborn within 48 hours if you immunize in the first 48 hours you prevent this disease and so we started in 1994 and each year they within a short time the Chinese were were vaccinated virtually everyone 100% they can do that in China and and and so Merck helped them charge them seven and a half million dollars once to pay for the the travel and the the lodgings of the of the uh Chinese but otherwise it walked away never made a penny of profit but uh it converted the number two cause of death based on 9% of people being infected with hepatitis B to less than 1% and that was done by Merck with no profit at all so there are different ways to cover the needs of global disease uh uh among global people and and uh I think it's up to the industry uh to come through and solve these things because they have it within their needs to do that and it's it is the best way to run the business Roy it's a sophisticated um set of ideas right to simultaneously think first and foremost about the patient make a fair profit where that is uh a fair and right thing to do but recognize that there are large populations and both the ivermectin story and the hepatitis B virus story in China you know you've chosen different mechanisms I'm hoping the industry continues in that light we're trying the same thing in my company with tuberculosis Ebola multiple companies have played big roles and now hopefully COVID-19 is an opportunity for the industry to do all of the above you know to come forward with um really really useful therapeutics and vaccines I'm sure they're going to do this I'm sure they're going to do it because the focus is on them that they all want to perform and be first that's good uh and uh I'm very optimistic that this is going to happen but probably not in the the time frame that our president is predicting and causing the all kinds of uh a turmoil in the press because there's no way you can get one year of safety in three months no not by the election most likely so maybe maybe to continue in that theme but shift a little bit you know the the the goal again of our our industry is to treat um the world's population I would say the the population of sick people in on the planet so but there are incentives you know in our system and they're evolving and what we witnessed over the last 30 years is this relentless decrease in the number of patients that companies seek to treat so we had a panel earlier on rare diseases um there's been as the patient numbers are dropping that we're we're treating this other relentless increase in the price per treatment uh toward those patients and for insurers to love to get your thoughts and advice to us on that like specialty versus broad primary care um and so forth so give give us your thoughts here Roy yeah well I'm not big on the specialty in the broad market because that that's not my language my my way of looking at disease is that first of all you follow the science and that is uh you enter a disease class uh with research when your scientists have some idea that the science is now right to do something about this condition and that hopefully will be a condition that has a broad impact on population you know I as a physician I am a physician by training uh I would like to do an impact the most people that I can during my lifetime and if if wanted to take uh diseases because uh globally are five or ten thousand people or or a hundred thousand people total uh you're going to have lifetime which is rather limited in the impact and and uh not so so I would like to say that follow the science the science if it starts with a small number of patients might be an entree into a whole class that it goes beyond the initial target of type of patient and disease and diseases that might be uh uh appropriate for that uh drug so so uh most importantly I think if one comes across a possibility that brings you to a rare disease take it on but don't take on too many because because they fill your pipeline and they will block more important by more important I mean diseases that are much more broadly represented in our in our society uh for instance uh uh what we need today or we need of course today to take care of this coronavirus problem uh COVID-19 but we but long term uh we're not finished with with uh cancer and while you can focus on one cancer uh with your approach that drug uh can be studied in many different cancers that may be much broader than where you begin as you understand it better uh so cancer with immuno oncology uh breaking open one area after another I think it's been going to be near term one of the major areas which might start small but become very big and hopefully cover some of the ones that are still dread cancers for which we can do damn little cross the pancreatic cancer for instance where where I think uh for whatever reason very resistant to everything that that has come along so far but still a huge problem for for society because because it's untreatable and that is relatively there's quite a bit of it around but the looming out there are the neurodegenerative diseases now uh you know the ALS is was was the target for Regeneron when they were born 1988 that was what they were going to work on and then they worked like hell for a number of years before it became clear that the science wasn't there at the time and so that was too early but neurodegenerative diseases because of the advances that have been made in universities largely where pure basic research happens uh it's coming along very rapidly now and and uh I would guess well there are two things that are happening the neurodegenerative disease that the neurosciences are moving very rapidly at the basic level to really understand the cost of the disease uh that's that's coming very rapidly and and uh I I think we'll succumb to drug discovery we are going to have drugs for that uh the psychiatric diseases as well and and the approaches that are going to be made are in part will come from genomics genomics and and and the genetics genetic studies these vast studies that are going to start pouring in not a million uh not a not a million cases of having their DNA sequence but a hundred million that's going to that's going to open up a lot of worlds and it's going to be the worlds like Helen Hobbs came up with with her PCSK9 story where she concentrated on the people who had very high and incredibly low LDL cholesterol and and found the gene that did that and then followed the the the the the mutants and studying them and came up with an entirely new class of drug and I think that approach to neurodegenerative diseases uh psychiatric diseases you know all essentially all the psychiatric drugs were found by accident I don't think anyone was designed and and so it's time when we when we have better drugs for schizophrenia for depression for all all these uh psychiatric uh diseases and and Alzheimer's disease which has had numerous attempts to go out within our industry uh I think is uh it's going to it's going to break I don't know when or where it's going to break because there's so much effort now and people are so excited about learning new things uh about about the uh biology of these diseases and that's what it's going to take new information when that becomes available I hope there will be an attack as there is on on COVID by the industry because uh what I see at my age age I'll be 91 in the next month what I see is is people suffering even though long times but they are incapable of taking care of themselves because of neurodegeneration what is happening and we need to solve that and quickly so Roy you know you said something here that's very important that you do begin programs because there's science that supports moving in that direction as you know as you experience at Merck as you see at Regeneron it was true at TheraVance it's true Merck at J&J it's it's the beginning of a project or giving birth and progressing a project is a complex process now and what role do you think you have a lot of R&D senior leaders and emerging leaders listening to you right now so what role does the R&D scientists uh the the the scientists play in beginning projects what what advice do you have here oh my god my god Matai as you know uh uh when I was at Merck uh within the first year I will tell you immodestly that I felt that I was running Merck they had Merck at that time had gone through a period where they you know they uh they had a young chemist who synthesized uh cortisone from scratch 30 30 steps uh synthesis made cortisone available and that was the beginning of the steroid era so that kind of discovery at Merck that turned that convinced management at the time that the the driving force of the company was in their research laboratory and and so what when when I when I uh was interviewed for the job at at uh work uh after the CEO Henry Gatson told me about the would like I said you know there there are a couple of questions I said you know what would happen if the company went you know the business went bad and I didn't know what I was talking about of course I was just going to be negative he said well the sales went down the tubes uh that we would cut back on the expenses for everything sales marketing manufacturing the last thing we would touch is research because science is our future this was a guy whose background was manufacturing but he that was so ingrained at at Merck and so within within months after I arrived I arrived there uh we did an experiment uh with with a beta blocker uh specific beta blocker that was doing nothing for what it was supposed to do in high blood pressure control and a friend from Yale called and said you know do you have a drug that might affect glaucoma and I said uh I don't know but we have a lot of drugs we'll bring them up he had a model of a of a uh of a uh a rabbit with glaucoma in his eye because they could put you put a chronic lidoc enzyme in the eyeball and it becomes like glaucoma and anyway we went up there in this guy who was a medical student a couple of years ahead of me at Columbia and so I knew him he was chairman of ophthalmology and and he had his model and he said uh what do we just put a drop of this uh these drugs that you have on on a rabbit eye and we put on a beta blocker uh and and the pressure just went down and I looked at that and I didn't know squat about eye eye disease but I knew what what reducing pressure was so I went back went right to the CEO and I said Henry uh we're going to have a new drug for glaucoma he said why do you want to do that I said well because I just saw that that this drug uh can reduce the intraocular pressure but and that's going to work uh he said but look you know the drugs that are being used for glaucoma are dirty I said no but you know they all cause problems when you go from light to dark uh and then you cannot accommodate to the light with this drug which is a beta blocker it will have no effect on that light to dark transition and so it won't have that side effect there will be a brand new drug it will be very important well that drug temoptic became the leading drug in in uh in the industry for 20 years and and uh so his reaction was uh okay well we'll give it to a uh when I told me what's going to be uh glaucoma he said we'll give it we'll license it to a uh and I found the company I said why would you do that he said because we're not in the eye business I said but you could be with the breakthrough drug they said they thought about it he said let's try it but that's how we got into the eye business they listened to research and I was amazed I've been in the company a year at that time and he was a CEO and I was head of drug discovery and as I say I had the feeling I was running I was running Merck from that from that time because no one ever questioned what was coming from a search maybe they should have love it Roy Roy we just have a couple minutes left and I wanted to to get your thoughts for the audience listening on just leadership um so sign there are many scientists that aspire to scientific leadership maybe they aspire to broader leadership um uh business leadership you know what advice would you have for for these um young and emerging leaders today that are steeped in science they're trained in science but they want to learn leadership what's important in scientific leadership there clearly is a deep understanding of the science and a deep understanding of disease uh because it's it's that it's that intersection where new science reveals something in a disease where you have the technology or can develop technology to affect that molecule and and the your scientific leaders are the people who can one after the other get those intersections and come up with a new mechanism of action drugs and that's what we're able to do at Merck because as I say you know it's like a baseball picking a an ace baseball player they want someone who doesn't hit an occasional uh home run but you want someone who gets on base or or hits a home run on a regular basis and and and so uh repeat repeating uh good performance and getting into fields understanding the science understanding disease is what it's about and how do you do that you can't do it alone you pick top people in science and they come from everywhere and and uh uh and and they're very special and we were very fortunate in the kinds of people who were at Merck while I was there because they did magic and and I think that's what's possible in our industry beautiful Roy I knew it would be a wonderful conversation it was exactly as I imagined so thank you very much for for taking the time to to be with us today it's genuinely appreciated thanks for time come and visit us up on the vineyard I will do I will do