“We're not going to wait for readout from these studies, and we'll start earlier with Phase I/II combinations this year.”

In context

“down and continue to delever the balance sheet in the long-term. Secondly, yes, most likely, we would attend to do a -- I'll say, a smaller deal given the fact that our capacity is in the $13 billion ZIP code at this moment. And so I would expect this more from a smaller perspective from a transaction. Albert Bourla: Yes. And I think it's [indiscernible]. David M. Denton: It's 13 only because we have essentially allocated some of 3SBio transaction funds against our BD target. Albert Bourla: Thank you, Dave. And Chris, how do you think about developing the PD-L1 VEGF that I know we closed, and we are very rapidly executed on the plan even before we could close. Chris Boshoff: Thank you very much. As you know, we do have ongoing programs with the IDCs SV PDL1V, and Padcev all in Phase III. We're not going to wait for readout from these studies, and we'll start earlier with Phase I/II combinations this year. In fact, with those ADCs in combination with 3SBio 707. How we look at 707, it's really to be a potential backbone to replace single-agent PD-1, PD-L1. It's got a unique structure, and the preclinical data suggests potential best in class regarding high affinity for PD-1 inhibition and also -- and potentially increase anti- angiogenic activity. You've seen the overall response rate in the first-line setting of 65%. We're confident in this molecule across the cancer areas or tumor areas that -- where we have significant capability, including thoracic, GU and GI and we'll later this year announce a Phase III program for 707. Albert Bourla: Thank you, Chris. I really -- my team got me very excited about this molecule and they have presented to me a very aggressive development plan, but they”