“And finally, we expect non-GAAP EPS in the range of $8.05 and $8.25, raising non-GAAP EPS by $0.10 at the low end of the range.”

In context

“R&D expenses to be roughly flat on a dollar basis from 2024 and SG&A expenses to decline by a mid- to high single-digit percentage compared to 2024. Similar to last year, we expect a step-up in both R&D and SG&A expenses in the fourth quarter, reflecting normal end of year trends. We have updated our IPR&D expectations for the full year to reflect our actuals through the third quarter and our known fourth quarter commitments, including $300 million relating to the Interius acquisition. We now expect full year acquired IPR&D to be $900 million. Rounding out the P&L, we expect operating income to be between $13.1 billion and $13.4 billion, reflecting an increase of $100 million at the low end of the prior guidance range. We continue to expect our effective tax rate to be approximately 19%. And finally, we expect non-GAAP EPS in the range of $8.05 and $8.25, raising non-GAAP EPS by $0.10 at the low end of the range. GAAP EPS is expected to be in the range of $6.65 to $6.85. On Slide 26, our capital priorities remain unchanged, and we returned $1.4 billion to shareholders in the third quarter, which included $435 million of share repurchases. These repurchases are intended to offset equity dilution at a minimum, but can also be used opportunistically as you've seen in the first 3 quarters of 2025. Overall, we are pleased with the strong performance this quarter, highlighted by our clinical and commercial execution and supported by our disciplined operating model. We continue to be well positioned for near-term and long-term growth, and we remain focused on delivering on our strategic commitments. With that, I'll invite Rebecca to begin the Q&A. Operator: [Operator Instructions] First question comes fr”