“For the full year, we continue to expect other revenue to be approximately $1.4 billion.”

In context

“pected in Q3. The outlook continues to reflect our investments in advancing key late-stage programs, including MariTide, olpasiran and IMDELLTRA and leveraging technological advancements, including artificial intelligence. Our operating margin outlook also includes incremental launch and commercial investments starting in the third quarter. In line with these priorities and reflecting the business development transactions of roughly $200 million, we now expect non-GAAP R&D expense to grow over 20% in 2025. We now anticipate non-GAAP OI&E to be approximately $2.2 billion in 2025. For WEZLANA and AMJEVITA sales in the United States, we continue to expect quarterly sales to fluctuate and do not expect any sales in the third quarter. And let me remind you of prior items that have not changed. For the full year, we continue to expect other revenue to be approximately $1.4 billion. We expect a non-GAAP tax rate of 14.5% to 16.0%. We expect share repurchases not to exceed $500 million in 2025. We are focused on delivering sustained long-term value for patients and shareholders by doing what we said we would do, growing leadership in the United States and internationally, driving innovation in areas of high unmet medical need and maintaining rigorous financial discipline. We continue to focus on execution excellence across the enterprise and remain well positioned for sustained growth through the long term. I'm grateful to work with all of our colleagues worldwide in serving patients. This concludes our financial update. I'll now hand it back to Bob for our Q&A session. Robert A. Bradway: Julianne, could you now open the call for questions and just remind our callers”