“I think when you model that, you can think about those several points as approximately a 3% headwind to growth.”

In context

“om Skyrizi and Rinvoq alone, our neuros franchise is growing by more than $1 billion and aesthetics has begun to recover from the economic headwinds. In 2025, we see incremental contributions from Skyrizi UC, which was recently approved, as well as 951. All these factors demonstrate strong momentum in the business. And then when you think about the offset of Humira, that erosion that we have expected this year at $4.5 billion. Last year that erosion was $6.5 billion and we do expect another step down in absolute dollar terms in 2025 for that erosion as well. So that will be less of a headwind to growth in 2025 than it was in 2024. So we feel very, very strong about that. And I think from a Part D perspective, we’ve talked about the several points of growth headwinds that we see there. And I think when you model that, you can think about those several points as approximately a 3% headwind to growth. So, overall, very strong momentum from the business with some headwinds, but we feel very confident in our ability to return to robust growth at the topline. Regarding EPS, the bottomline, we see EPS growing in line with that revenue growth that we’ve talked about. So, EPS will benefit from operating margin expansion. We’ve talked about that operating margin expansion will be on the SG&A line as we leverage the revenue growth and drive efficiencies and we have a good history of doing that. So, that operating margin will expand. However, that expansion will be roughly offset by the fact that in 2025, we’ll have a full year of interest expense associated with the financing for Cerevel and ImmunoGen. So robust growth at the topline and in-line growth from an EPS perspective. Liz Shea: Thanks”