“Clearly, you've also heard us reiterate very specifically our focus on maintaining and growing our dividend over time, and we would continue to do that.”

In context

“ank you. Dave, why don't you take the dividend? Dave Denton: Yeah. So, clearly in my prepared remarks and what we said very consistently is our objective is to improve our operating margin performance over time, and we've said that knowing quite well that we have LOEs approaching. Some of the improvements in productivity that we are making are designed to improve our operating margin in the face of those LOEs. At the same time, our business is actually evolving such that, particularly in the oncology space, where we're leaning into that business and those products actually yield a very high gross margin and operating margin performance. So the short answer is yes. We can withstand that. And secondly, we're very focused on improving our operating margin over time in the face of those LOEs. Clearly, you've also heard us reiterate very specifically our focus on maintaining and growing our dividend over time, and we would continue to do that. We work hard to understand the environment looking forward. And I don't want to hypothesize on what could happen, but clearly, we're watching the situation closely and our commitment to the dividend is steadfast. Albert Bourla: And I think, David, you made also very clear quantitative calculations of what we expect and, you know, when we put a number out there. We know that we can hit it and the spoke about $7 billion by year 2027 while maintaining the R&D at the current levels of investment. Which I think it is a key strategy to have said, first of all, navigate in a certain environment, that's the best way to do it, to be productive. Another comment I want to make on that, it is that the cuts are not across the board. Or they are not by just reducing resources, but they're valuable. The”