“What I have seen over the last six months really gives me confidence that we are very much on track, or slightly ahead, of that recovery in Diagnostics and that growth trajectory change.”

In context

“growth of our MedTech business and our pharma business—MedTech business low double digits, our pharma business above 7%. These are businesses that have consistently and reliably delivered this type of performance. Whether it is market conditions or new product launches in these businesses, we feel very good about our ability to sustain that kind of performance. The second bucket would be more of trajectory-changing businesses, and I would put Core Lab and Nutrition into those buckets. They are a little bit different, though, David. On our Core Lab business, we talked about the impact of China and the VBP, and obviously COVID. That was about a $1 billion headwind that we faced last year. Other parts of the business—geographies and platforms—are doing very well, and we continue to see that. What I have seen over the last six months really gives me confidence that we are very much on track, or slightly ahead, of that recovery in Diagnostics and that growth trajectory change. The teams there have done an incredible job in China and especially here in the U.S., too. I think the teams have done really well in terms of being able to gain market share. The Nutrition transition is a little bit earlier in that stage, but I still feel that what we are seeing right now, the timely decisions we took in the middle of Q4, are starting to show activity in terms of driving volume growth. It is still early; I cannot declare it done, but we are seeing really good indications that the actions we took, combined with the new product launches, are going to drive that recovery. The third bucket is the integration of Exact Sciences, which adds a high-growth business to the portfolio. It has been performing very well. I would say those are the three big drivers of our sales forecas”