“Looking to the fourth quarter, we expect a step-up in gross to net discounts resulting from increased rebating associated with our approved access position.”

In context

“demand in new indications and improved manufacturing capacity and reliability. In the U.S., sales grew more 40% on a sequential basis driven primarily by pent-up demand in 2 of our newly approved indications, follicular lymphoma and mantle cell lymphoma. We expect more modest sequential growth from third quarter to fourth quarter as demand normalizes. Also in cell therapy, despite a competitive market, bema performed well in the third quarter with solid demand growth in both the U.S. and international markets. Now moving to immunology on Slide 14. Sales Sotyktu nearly doubled when compared to the impact of the $30 million clinical trial purchase in the third quarter of last year. Outside the U.S., sales grew year-over-year, benefiting from the launch in a number of international markets. Looking to the fourth quarter, we expect a step-up in gross to net discounts resulting from increased rebating associated with our approved access position. This would result in the fourth quarter sales being similar to this quarter. As we said previously, we expect that over time, demand growth will offset these pressures. Now turning to the P&L on Slide 15. In addition to solid commercial execution, our third quarter performance demonstrated our focus on financial discipline and steady progress against our $1.5 billion cost savings program. As a reminder, we initiated this program to offset incremental OpEx from the recent deals. Savings from across the organization include reductions in direct clinical trial expense, site rationalization, elimination of roles and a reduction in headcount. As we said previously, we expect the majority of the savings to come through this year. As we realize these savings, we are strategically reinvesting in”