“FX, we're assuming that it's flat.”

In context

“is is with no FX tailwind and with diabetes in the portfolio. We just delivered a quarter that's up 5.4% organically on revenue that has operating margin up 90 basis points, which is 200 basis points if you actually exclude FX, and we've got EPS that's up 11%, which is really 15.8% if you exclude EPS. That earnings growth is actually 9% in the second half of the year. So that's the fundamentals of the business that we're trying to build on. Now, back to '27. As I said, we're looking at a growth rate that should continue to be positive with all the momentum that Geoff mentioned. We're going to continue driving leverage on the cost side. And so here you see some signs of improvement that are pretty significant from an operating profit perspective and we're going to continue to work on that. FX, we're assuming that it's flat. So, we're not assuming that it improves where the tailwind that I mentioned on '27 is just the effect of the carryover of the goodness that we'll have based on the current FX rate. And then you're right, there should be some accretion that comes from diabetes from the separation. That's going to help. But the target that we have for the teams is to deliver on the framework regardless of the transaction. Robbie Marcus: Great. Thanks, Thierry. Appreciate it. Ryan Weispfenning: Thank you, Robbie. Take the next question please, Wynne. Operator: We'll take the next question from Larry Biegelsen from Wells Fargo. Larry Biegelsen: Good morning, thanks for taking the question. So, Geoff, I wanted to focus on the decision to spin diabetes. I guess a couple of questions. One, did you consider break”