“As a result, our revised full year '25 adjusted diluted earnings per share range is now $2.90 to $3.10 a share.”

In context

“e range of $10.4 billion to $11.4 billion and our adjusted effective tax rate of approximately 13%. Now given our strong performance to date as well as our outlook, including a favorable impact on foreign exchange, our more efficient cost structure as well as improvements in our adjusted effective tax rate, we are raising our full year '25 adjusted diluted earnings per share guidance by $0.10. This includes absorbing a $0.20 charge for acquired in-process R&D associated with the upfront payment for the 3SBio transaction. So just to clarify, without the 3SBio deal, we would have raised our adjusted diluted earnings per share guidance by $0.30. Of this our adjusted diluted earnings per share guidance, we are partially derisking the expected COVID performance in the second half of this year. As a result, our revised full year '25 adjusted diluted earnings per share range is now $2.90 to $3.10 a share. In closing, we will continue to focus on maximizing our product portfolio's value and driving innovation to strengthen our pipeline. With a stronger balance sheet, we plan to deploy capital more effectively. We will focus on increasing our R&D productivity by deploying AI and digital capabilities, reinvest appropriately to accelerate high-value R&D programs and pursue new growth opportunities through business development. Additionally, our cost improvement initiatives are beginning to expand operating margins through productivity gains and streamline processes. And so with that, I thank you for your attention. I will now open up for Q&A. Albert Bourla: Operator, please assemble the queue. Operator: [Operator Instructions] We'll take our first question from Trung Huynh with UBS. Trung Chuo”