“And in terms of adjusted EPS, we now expect FX to be a year-over-year headwind of $0.28 which is $0.17 more of a headwind than our previous guidance.”

In context

“$0.17 lower due to FX and $0.69 related to the change in core revenue. So we now expect to deliver $21.50 of adjusted EPS in 2023, a strong result given the challenging macro-environment. Let me now provide you with some additional details of the updated 2023 guidance. We continue to assume that we'll deliver $300 million of testing revenue in 2023. We expect the total vaccines and therapies-related revenue will be $1.6 billion less than the prior year, an impact of over 4% on our core organic revenue growth. This assumes we recognized $1.3 billion of vaccine therapies revenue in 2023, $600 million of which is in our clinical research business. Moving on to FX. Given recent rate changes, we're now assuming that FX will be a year-over-year headwind to revenue of approximately $100 million. And in terms of adjusted EPS, we now expect FX to be a year-over-year headwind of $0.28 which is $0.17 more of a headwind than our previous guidance. The Binding Site and CorEvitas acquisitions are performing well, and we now assume that they'll contribute approximately $300 million to our reported revenue growth for the year. Below the line, we now expect just under $500 million of net interest expense in 2023, a slight increase reflecting the acquisition of CorEvitas. We continue to assume that the adjusted tax rate for the -- 2023 will be 10%, and we're now expecting net capital expenditures will be between $1.3 billion and $1.5 billion. And we now expect the free cash flow will be between $6.7 billion and $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, $3.7 billion in acquisitions completed this year, and $3.1 billion committed t”