“We're not counting on it for growth. We are counting on our new products, the excellent execution we have in our existing products to drive growth for our company in the second half of this year and into the future.”

In context

“a buydown in the second quarter this year greater than what we had seen in the second quarter of 2024. As we look at our opportunities for GARDASIL, we do expect growth in 2025 and beyond, but that does not contemplate any change in the dosing schedule for the United States. And we'll need to see what happens as the ACIP continue those discussions. As it pertains to China, as noted in the prepared remarks, demand remains soft and inventory remains elevated. We are on the ground doing all we can to activate demand, both with females as well as now with males. That said, we will not ship further product this year, and we will assess at the year-end on what the appropriate schedule should be for 2026. I should note, GARDASIL China represents a fraction of our company now, much less than 1%. We're not counting on it for growth. We are counting on our new products, the excellent execution we have in our existing products to drive growth for our company in the second half of this year and into the future. Operator: Our next question comes from Evan Seigerman with BMO Capital Markets. Evan David Seigerman: As we think about business development going forward, I'd love if you could expand on your approach to diligencing assets between Chinese and Western companies. I'm specifically asking in context of the recent Verona acquisition versus a recent collaboration announcement by a competitor for Chinese PDE3/4 inhibitor. Dean Y. Li: Well, this is Dean. We have a very high standard, whether it's from China or from the United States. But in specific relationship to your question about Verona, I mean, Verona is a company we have followed at least for 5 years. It's -- we were always intrigued by it because they had a dual inhibitor of PDE3 and 4 with the possibility of bronchodilatory and nonstero”