“It is less likely that we will pursue more sizable M&A this year, although we will always leave the door open to consider strategic acquisitions if a compelling opportunity emerges.”

In context

“e non-GAAP EPS guidance we shared back in February. We are pleased to note that the strength in our commercial business, reflected in the $400 million increase in product sales, is effectively offsetting the impact, primarily R&D, of the three deals on an EPS basis. On slide 26, we returned greater than $1.4 billion to shareholders in 2026, including over $400 million of share repurchases. Combined with our dividend, we returned approximately 60% of our free cash flow to shareholders in 2026. Looking ahead, given the pace of our activity in 2026, our business development focus in the near term will be closing and successfully integrating these programs, and maintaining strong clinical momentum. At the same time, we will continue to pursue ordinary course business development transactions. It is less likely that we will pursue more sizable M&A this year, although we will always leave the door open to consider strategic acquisitions if a compelling opportunity emerges. Overall, we are pleased with Gilead Sciences, Inc.'s consistent strong performance highlighted by solid clinical and commercial execution, and supported by our disciplined operating model. We continue to be very well positioned for both near-term and long-term growth and fully focused on executing our strategic commitments. With that, I will invite Rebecca to begin the Q&A. Operator: Thank you, Andy. At this time, we will invite your questions. Please be courteous and limit yourself to one question so we can get to as many analysts as possible during today's call. Again, to ask a question, press 1. And to withdraw your question, press 1 again. Our first question comes from Akash Tewari at Jefferies. Go ahead. Your line is open. Analyst: Hey, thanks so much. Can you talk a bit more about t”