“We think if we can put the inventory situation behind us, we can get to a more normal market dynamic, one where with the underlying demand and the fact you have the male indication coming, it can come back to growth.”

In context

“alf, would take care of the inventory? I'm just trying to get -- understand the demand situation in China as well. Rob Davis: Yes. Mohit, thanks for the question. We have not commented specifically on how much inventory Zhifei is sitting on. They're a public company, so we need to leave it to them to make comments about that. But I think the important point here is to understand that as we've seen the marketplace, what we intend to is to accelerate that drawdown. So, we are planning to ship and by -- frankly, by not shipping February potentially through the midyear and essentially longer, depending on how we see the inventory come down, we're going to allow the underlying demand that is still there to absorb the Zhifei inventory and improve Zhifei's financial position and working capital. We think if we can put the inventory situation behind us, we can get to a more normal market dynamic, one where with the underlying demand and the fact you have the male indication coming, it can come back to growth. So, the speed with which we burn that down, we'll have to see. But the other thing I would just highlight for context, with this rebasing, GARDASIL China now is about 1% of our total earnings. So, it is becoming -- of our total revenue. So obviously, that's an important thing to understand. And that's why we also highlighted that if you look at the way the business is going to progress, as we get into the back half of this year and we anniversary the GARDASIL China situation. We will be strong growth and for overall Merck as well as, as we go into '26 and '27. And that's important because, obviously, at that point, anything that happens in China with GARDASIL is an upside. And that's really why we've decided to now rebase this, understanding it's a change from the direction we had taken p”