“We continue to assume a full year tax rate between 13.5% and 14.5%.”

In context

“dance range represents growth of 18% to 20% or 13% to 14%, excluding LAGEVRIO and the impact from foreign exchange. The projected impact from burn exchange includes an incremental headwind of more than 1% using this July rent resulting a net impact of approximately 3%. We are maintaining our gross margin expectation of between 74% and 74.5%. We are increasing our operating expense projection to $20.5 billion to $21.5 billion, primarily driven by the $219 million upfront payment from the recently announced collaboration with Orion Corporation. As an ongoing practice, our finance does not include significant potential when we development transaction. We increased our expectations of other expense to approximately $100 million, reflecting higher-than-anticipated pension settlement expense. We continue to assume a full year tax rate between 13.5% and 14.5%. We assumed 2.54 billion shares outstanding. Taken together, we have managed our expected EPS range to $725 to $7.35. The operational front in our business would have led with approximately 20% increase in our guidance. This strength is being offset by the upfront entry to Orion, by pension settlement expense and an incremental headwind on foreign exchange more than 1% due in [indiscernible]. Overall, that guidance reflects our confidence that the strong underlying momentum of our business will continue into the second half of the year. As you consider your models, there are a few things to keep in mind. First, the pandemic as a tailing to growth in the first half of the expect the benefits to yearly reset over the remainder of the year. Also, we actively managed the impact of foreign e”