“it's going to be difficult to see given the strength that we are seeing in the U.S. to see volume outside the U.S. showing their strengths. Now yes, it's going to add very nicely additional numbers. But again, it's not going to be huge compared to the U.S.”

In context

“out investing in the space ex-U.S. near term? Thank you. Emmanuel Babeau: Thank you. Yes. So we have this situation in Scandinavia on nicotine pouch where the product is already present, mainly in Sweden, where it's a nicely growing market. That's not where we enjoyed the biggest market share. So we are globally year-to-date, growing on nicotine pouch in Sweden, but are not -- we're not talking about big volumes here as we have our strong leadership in Sweden on snus. Outside Scandinavia, we are just at the beginning. So yes, we are launching. So we explained that we've been launching in Switzerland, Finland as well, even in the Nordics. There will be more market to come. Now it's going to be hopefully nice, but it's going to be small versus what we see in the U.S. You see what I mean. So it's going to be difficult to see given the strength that we are seeing in the U.S. to see volume outside the U.S. showing their strengths. Now yes, it's going to add very nicely additional numbers. But again, it's not going to be huge compared to the U.S. We'll see with TPD if there is any decision taken around nicotine pouch. Of course, if there is anything decided that will -- in that respect, which we don't know today that may influence the way we invest on this category in the EU. But frankly, at that stage, it's too early to say because we don't know what's going to be discussed, if anything on that one. And therefore, we'll see. Owen Bennett: Okay. Thank you. Appreciate it. Operator: Thank you. Our last question will come from Andrei Condrea with UBS. Andrei Condrea: Hi. Good morning, Emmanuel. Just one from me, please. And I know it's a bit of a topic to [Joe] (ph), but the GLP-1 drug, obviously, there's been talk about it having anti-addictive properties. Do you think this could be an issue for PMI in the long term, rather? Thank y”