“Assuming inflation persist, we expect to see that impact in 2023 as well.”

In context

“zumab will serve as additional catalysts for continued growth. In 2023, we will see the full year impact of the Alimta's patent expiry in the U.S., where new generics have eroded Alimta sales starting mid-Q2 and we anticipate a low single-digit headwind from foreign exchange rates. As for revenue from COVID-19 antibodies, we will continue to make bebtelovimab available for purchase. However, the demand for these therapies will depend not only on COVID-19 case counts but also on evolving variants and available therapies. We continue to believe that COVID-19 antibodies will not be a major driver for long-term growth for Lilly. We will invest in our future as we advance promising R&D opportunities, expand our manufacturing capacity and support the potential launch of multiple new products. Assuming inflation persist, we expect to see that impact in 2023 as well. Also, we will be making a significant investment in one of our most important assets, our talented workforce, through increases in compensation that are partially due to inflation pressures, but also to ensure we have the right capabilities to deliver on the promise of our future growth. While these investments will slow our operating margin expansion in 2023, they are critical to maximizing pipeline and new launch opportunities to help sustain top-tier revenue growth and operating margin expansion over the mid- to long term. We look forward to sharing more details on our 2023 guidance call on December 13. Now I'll turn over the call over to Dan to highlight progress in R&D. Daniel Skovronsky: Thanks, Anat. 2022 has been another outstanding year for R&D at Lilly. In addition to Mounjaro”