“we now expect FX to be a headwind of $0.11, which is $0.05 higher than our previous guidance.”

In context

“ncome margin to be in the range 23.2% to 23.4% for the year. Let me provide some more additional details on the updated 2023 guidance. We're assuming that we'll deliver $300 million of testing revenue in 2023. This is $100 million lower than our prior guidance and through the half-year point we've delivered $225 million of testing revenue. Within the call, we continue to expect $500 million of vaccines and therapies revenue in 2023. This is $1.2 billion less than the prior year, a 3 percentage point impact on core organic revenue growth. Through the half year point, we delivered $365 million of vaccines and therapies related revenue. Moving on to FX, we continue to assume that FX will be a year-over-year tailwind to revenue of approximately $100 million. And then in terms of adjusted EPS, we now expect FX to be a headwind of $0.11, which is $0.05 higher than our previous guidance. The Binding Site acquisition is performing well and we now assume it will contribute approximately $260 million to our reported revenue growth for the year and $0.09 to adjusted EPS. Below the line, we continue to expect net interest expense in 2023 to be approximately $480 million. The adjusted tax rate assumption for the year has improved to 10% versus our prior guidance of 10.8%, driven by our tax planning initiatives. We're now expecting net capital expenditures will be approximately $1.7 billion, and we continue to expect the free cash flow will be $6.9 billion for the year. In terms of capital deployment, our guidance includes $3 billion of share buybacks, which were already completed in January. We continue to assume that full-year average diluted share count will be approximately”