“Obviously, the IRA and that [indiscernible] has pluses and pull -- pushes and pulls to us as we cycle into next year. When we provide guidance by the end of this year, we will give you a view on the net impact of that as we think about our business.”

In context

“'ll take our next question from Rajesh Kumar with HSBC. Rajesh Kumar: My apologies. I was on mute. So two questions, if I may. What is the impact of [indiscernible] IRA on your business next year? Are there any numbers you're calling out, which might help us with the modeling? That would be very helpful to understand if there are any impacts. And the second one is, I appreciate the color on the Seagen pipeline and how you're progressing and how the market under appreciates the size of the opportunity? The sell-side estimates clearly did reflect your optimism. When is it that you'll feel a bit more confident or what do you need to see to increase your longer-term guidance on Seagen? Albert Bourla: Dave, can you take the IRA [indiscernible]. Dave Denton: So I'll just hit on it very briefly. Obviously, the IRA and that [indiscernible] has pluses and pull -- pushes and pulls to us as we cycle into next year. When we provide guidance by the end of this year, we will give you a view on the net impact of that as we think about our business. So more to come, hold tight on that. Albert Bourla: And there are puts and takes, so positive things are negative, right? So we need to assess it as we are building now these calculations as we are building our budgets for next year. Seagen pipeline, Chris? Chris Boshoff: Yes. Thank you for the question. So I think last year, at this time, we didn’t expect we’re going to have PADCEV approved in first-line bladder and everyone forecast of that approval for the first half of this year. And obviously, the approval happened very early because of the unprecedented data. So I think the performance commercially is really as we expected or exceeded what we expected in 2024. If you look at the rest of the pipeline now, the new molecules like [indiscernible] D-L1B as well as next-generation CD30 AD”