“And next year, we plan to begin Phase III studies in autism spectrum disorder irritability.”

In context

“s a journey, but we're already seeing progress. I'm confident the actions we are taking are the right ones that will further advance our long-term sustainable growth strategy. Turning to Slide 6. The U.S. approval of Cobintian schizophrenia was an important achievement in 2024, and the launch is off to a great start. While we're focused on delivering on the schizophrenia indication today, we see the potential for additional benefit to patients and have made strategic investments in a broad clinical development program. We expect to have important data readouts starting this year and every year thereafter for the remainder of the decade. This year, we're initiating 7 Phase III studies across 3 indications: Alzheimer's disease agitation, Alzheimer's disease cognition and bipolar 1 disorder. And next year, we plan to begin Phase III studies in autism spectrum disorder irritability. The significant ramp-up in spending on Cobenfy illustrates our focus on continuing to invest behind key growth drivers while simultaneously maintaining financial discipline. Moving to Slide 7. We are entering a data-rich period with multiple catalysts over the next 24 months across a significant number of assets. In 2025, we have multiple important registrational catalysts, as you can see on this slide, including several that I already mentioned as well as the Cobenfy-ARIE study in adjunctive schizophrenia. Then in 2026, we expect to have registrational data for numerous potential first and/or best-in-class medicines, including Milvexian, in acute coronary syndrome and secondary stroke prevention, Admiral parent in idiopathic pulmonary fibrosis, and mezigdamide in multiple myeloma. We als”