“We now expect OI&E to be approximately $2.4 billion to $2.5 billion, which includes the interest expense related to the $28 billion of debt raised for the Horizon acquisition.”

In context

“ion and other revenue at approximately $1.4 billion. We expect TEPEZZA sales in Q4 to be flat to slightly down versus the third quarter, resulting in full year sales being up roughly 5% year-over-year as compared to the full year of TEPEZZA sales in 2023. Consistent with prior years, we expect Q4 non-GAAP operating expenses to be the highest of the year and expect approximately 28% of our full year operating expenses to be in the fourth quarter. This includes additional investments to drive momentum into 2025, for example, in key brands like Repatha and EVENITY. For the full year, our total non-GAAP operating expenses are expected to grow approximately 25% year-over-year, including from the addition of Horizon. We still expect full year non-GAAP R&D growth of more than 25% year-over-year. We now expect OI&E to be approximately $2.4 billion to $2.5 billion, which includes the interest expense related to the $28 billion of debt raised for the Horizon acquisition. We now expect the non-GAAP tax rate to be in the 14% to 15% range, including the full year benefits associated with the inclusion of the Horizon business and favorable items in the quarter identified in the return to provision process. Finally, our capital expenditure guidance remains at $1.3 billion for 2024. Our long-term growth outlook remains strong and I'm grateful to our colleagues worldwide for their dedication to serving patients. This concludes our financial update. I'll now hand it back to Bob for our Q&A session. Operator: Thank you. [Operator Instructions] Robert Bradway: Thank you, Julianne. Sorry, go ahead. Operator: Our first question comes from Salveen Richter from Goldman Sachs. Please go ahead. Your line is open. Salveen Richter: Good afternoon. Thanks for taking my ques”