“Share repurchases is an important lever for us. In the near term, it's not a tool that we're going to use.”

In context

“oughly 4x to 2.7x. That's given us increased flexibility to do both business development as well as maintain and grow our dividend over time. That cycle of improvement in productivity is something that we've now embedded in the company. We will continue to do that. We will continue to do that across the enterprise. We will continue to prioritize ourselves from an R&D perspective. Clearly, we have several assets that we think are key to the growth of this company by the end of the decade. We are going to invest behind those assets from a pipeline perspective, and we're going to invest behind the categories of products that we've either acquired and/or recently launched because those will ultimately allow us to offset the LOEs over the next several years. So we'll be able to do all of that. Share repurchases is an important lever for us. In the near term, it's not a tool that we're going to use. We have to get the balance sheet back to where we need to be. And we -- again, we have business priorities that come in the forefront of that at this point. Great question. Thank you. Albert Bourla: Okay. So now I think let's get the last question. Operator: Our last question comes from Rajesh Kumar with HSBC. Rajesh Kumar: Two questions, if I may. I appreciate you cannot say a lot about Metsera at this junction. Just from a modeling perspective, if we are thinking of additional balance sheet capacity for dealmaking, how much capacity would you assume -- assuming that you are keeping some capacity away from Metsera at the moment in 2026 on your own internal budgeting, that would be really helpful. And just on the 3SBio, I appreciate the deal has just closed and some of the trials have jus”