“We anticipate those tariffs to be approximately $150 million for 2025.”

In context

“s here. First, I know there's been a lot of volatility in FX. In currency fluctuations. If you we're probably an outlier in the sense that we gave guidance in December. So if you look point to point from December to now, FX is largely immaterial to us. Given the fact there's been a lot there's been a roller coaster ride to get from point A to point B. But right now, FX is largely not an impact to Q1 and for the balance of the year. Secondly, if you look at Medicare Part D redesign, in Q1, it dampened our US revenues by approximately $650 million as we expected. That dampening will lessen in the back half of the year as we continue to offset that a bit with incremental prescriptions. Third, included in our guidance that we didn't really speak about is there are some tariffs in place today. We anticipate those tariffs to be approximately $150 million for 2025. We are contemplating that within our guidance range, and we continue to again, trend through the top end of our guidance range even with those costs to be incurred this year. Albert Bourla: Thank you, Dave. Next question, please. Operator: We'll go next to Akash Tewari with Jefferies. Akash Tewari: Hey. Thanks so much. I realize there's a lot of uncertainty on tariffs, but hearing Mark give color on Q1, it seems like some of your peers are hinting the bottom line impact of tariffs could be manageable. Let's say the tariffs are broadly 25% on your transfer price, which I'm sure is a scenario your team's plan for. Would it be fair to say that the bottom line earnings impact would be a single-digit percent basis with reasonable mitigation steps? Thank you. Albert Bourla: Thank you, Akash. I”