“And all of that said, we'll be able to deliver a margin greater than 37% for the year, which we feel very confident about.”

In context

“d can talk to you a bit about how we think about margins generally. David Elkins: Just overall, as we guide it, we anticipate gross margins to be about 74% this year. And that's really driven by the LOE brands coming down. But as the growth portfolio continues to increase, obviously that'll help offset longer term where those gross margins are going. We also said that our operating expenses grow in the mid low-single digit range. And with that, really, there's a lot going on there that, as we said on Karuna, we're going to find savings and efficiencies in order to cover those expenses. But also, as Adam indicated, and I said in opening remarks, we're increasing our investments in Camzyos and Sotyktu. So with that, we're finding from our legacy brands, refundling those resources into that. And all of that said, we'll be able to deliver a margin greater than 37% for the year, which we feel very confident about. Tim Power: Thanks, David. So I think that was it for the time that we have. But I thank you all for joining the call today. I know it's a very busy day for all of you. Hopefully, you get a sense from the discussion this morning that we exited 2023 with good momentum to capitalize on the strategy that we have articulated about how we're going to navigate this decade. And of course, we look forward to sharing the progress against that on future calls. And with that, we'll close the call. And as always, the team is available to answer any questions following today's discussion. And I hope all of you have a very good day and a good weekend. Thanks. Operator: The conference has now concluded. Thank you for attending today's presentation and you may now disconnect.”