“If you -- without saying that that's the guidance, but if you multiply by 4 just to give you [indiscernible], we are talking about over $12 billion this year and growing.”

In context

“ve a series of readouts right now that will affect the revenues in the '29. And so I think when -- I feel confident about that because when it is a large number of pipeline assets risk adjusted, statistics usually work. And those that will fail will fail and those that will succeed will succeed, but the risk adjustment takes into consideration about that. So very confident about the growth trajectory of the company starting in '29. And I'm also very confident that we navigate the LOEs, as you saw right now, very well starting already this year, the LOEs. I also want to emphasize that always the strategy for LOEs was new and acquired products to do well because they were launched and acquired to offset the LOEs. They are growing 22% this year. They are already on $3.1 billion in a quarter. If you -- without saying that that's the guidance, but if you multiply by 4 just to give you [indiscernible], we are talking about over $12 billion this year and growing. And the $17 billion of LOEs now after [indiscernible], they are more $14 billion to $15 billion rather than $17 billion. So I think it's manageable. Operator: Our next question comes from Evan Seigerman with BMO Capital Markets. Evan Seigerman: I really want to touch on capital deployment, specifically when it comes to share repurchases. Dave, I know that, that's been a method that you wanted to employ now with clarity on [indiscernible] and the CAGR post-2028, what other -- what else do you need to see to potentially start buying back shares, especially at these levels? David Denton: Yes, Evan, great question. We always look at our capital allocation strategy of balancing between the 3 options that we have. At the moment, our focus is really on investing in our R&D platform and in busine”