“That said, we will reinvest all of that $3 billion plus further investments, especially in R&D, given the strength of our pipeline as well as in SG&A over time as we launch the new products and look to excel in the marketplace with those launches in order to drive long-term growth for our company.”

In context

“y fund into the fast-growing areas of our business. So really, this $3 billion that we've referred to is a reallocation within our portfolio from the slow-growing areas to the faster-growing areas with continued expectation that you're going to see overall growth in spend, hopefully, though, at a more productive level than you would have otherwise seen. And with those investments, as I said, targeted to our pipeline, making sure we fully fund the Phase IIIs and to preparing for the commercial launch. But maybe Caroline can build out some details. Caroline A. Litchfield: Yes. So I think you've covered the headlines well, Rob. In terms of this $3 billion saving opportunity, that will come through productivity across our enterprise. It will impact the R&D line, SG&A as well as cost of goods. That said, we will reinvest all of that $3 billion plus further investments, especially in R&D, given the strength of our pipeline as well as in SG&A over time as we launch the new products and look to excel in the marketplace with those launches in order to drive long-term growth for our company. Operator: Our next question comes from Asad Haider with Goldman Sachs. Asad Haider: Three-parter on GARDASIL. First, on GARDASIL U.S., you noted positive price and demand offset by CDC purchasing. Recognizing that CDC purchasing dynamics are always lumpy, they've also been a significant driver over the year. So maybe just speak to your level of confidence on the demand dynamics from that channel in the current environment. And then maybe also just as it relates to the potential for ACIP recommendation towards lower GARDASIL doses in the U.S., can you just update us on how you're thinking about the range of outcomes into the ACIP meeting this fall? And then finally, on China GARDASIL, Caroline, I think you said no shipments through at least the end of this year. So any early thoughts on ho”