“So let me just anchor us on a few facts here. First, the cost reduction effort that we currently have initiated is Phase 1 of a multiple-phase program. So this $1.5 billion savings is only a part of – or a piece of the story.”

In context

“how should we think about net reduction i.e., net COGS declines over the next three years? Thanks so much. Albert Bourla: Yes. Mikael, why don't you give a little bit on the obesity candidates other than danu? Mikael Dolsten: Yes Yes. As you heard from Albert, danu is the more advanced drug with a large tolerability, safety and efficacy experience. As always, in our projects, we have additional drugs in the same class. It's in Phase 1, performing as expected. We have another mechanism of action that would combine with Oral GLP [ph] such as danu later in development of life cycle. And we have other mechanisms to protect part in kidney that could also be part of an internal medicine, larger cardiometabolic franchise. Thank you. Albert Bourla: And what about the cost reduction? Dave Denton: So let me just anchor us on a few facts here. First, the cost reduction effort that we currently have initiated is Phase 1 of a multiple-phase program. So this $1.5 billion savings is only a part of – or a piece of the story. We will tell more of the story as we define the program more specifically so you get more clarity on that. Secondly, if you look at the $1.5 billion cost improvement effort, and you think about that on our cost of goods sold platform, where it's probably closer to $16 billion versus $15 billion, this is at anchor point. Albert Bourla: Thank you. Operator, next question please. Operator: We'll take our next question from Kripa Devarakonda with Truist Securities. Kripa Devarakonda: Hey guys, thank you so much for taking my question. I have a question on the RSV in maternal market. How has – have you gained traction in the maternal market? Are you seeing any sort of setbacks? Just wondering if Pfizer needs to educate, build out or do some groundwork before the market really breaks open. And”