So, no one product kind of keeps us up at night. And the other thing is, as Chirag said earlier on, who already launched 10 new products. There’s another 20 new products that are going to be launched. Whether or not we launched 30 products this year or 25 products this year, it’s not going to make a difference in our performance. Yes, so the — on the capital allocation piece, I mean I’ll give you my view is, as I mentioned before, we spent a ton of money and thoughtfully, right? We never did an acquisition that can affect the company. Many of them were tacking acquisitions, to fill out specific areas that are going to drive future growth. So as a result, I think at this point in time with the investments we have made, the interest rates being where they are right, this is why you’re hearing us kind of the prioritizing M&A and focusing more on debt pay down.
Chirag, any additional thoughts?
Chirag Patel: Tasos, you covered really well. And David, we do not have that 2018 problem, the big leaky buckets on a big GX products. It’s highly diversified across the business segments. Within Generics, we have multiple products with 10 20 30 40 50. And we’ll continue to drive and obviously, or a drag like leads the way. It’s kind of a branded GX, if you would call it. And in M&A, look we invested almost $600 million over the last four years and that is paying off really well. We continue to invest almost $240 million $250 million every year combining R&D, internal R&D, external R&D as well as CapEx, putting a new peptide site or putting biosimilar investments. So we have enough for next two three years. So right now, we’re zoomed in.
We love the consolidated business that we have different segments diversification. Goal is to delever, lower the debt amount, increase the EBITDA. And then from 2026, we would be in a much better position to think about anything big strategic. But right now we’re loving all the businesses and they’re all firing on all cylinders so — which is a beautiful thing. There’s not a weak link within any of the segments of our businesses.
David Amsellem: Okay. Thank you.
Operator: Our next question comes from Greg Fraser with Truist Securities. Greg, please go ahead.
Greg Fraser: Thanks and good morning, folks. On IPX203 you mentioned in the slide the data generation plan that support potential for early use. Can you expand on that? Are you planning additional clinical work? And then, can you just give us an update on your efforts to refinance the term loan B? When do you expect to finalize a refinancing? And what are your expectations for terms for the new debt? Thank you.
Chintu Patel: Hi. Good morning.So IPX203 we are very excited about how novel this formulation is compared to what is currently available in the market and how it can benefit the patient. It is a very unique formulation combined with immediate release with ER. Carbidopa/levodopa especially levodopa has a huge problem of absorption throughout the GI track and half short life. So the way the formulation is done and our data shows as part of the clinical that 1.5 hours of per dose improvement compared to IR CD/LD. And again, that’s what goes in the label but label and everything remains on a final negotiation. So it can help many, many new patients who are starting on an immediate release carbidopa/levodopa therapy which can take the fluctuations out and can stabilize the patient and can give a long durable good on time.
So that’s why we are excited. Currently, our Rytary product only offers over 4% of the patient and 96% of patients still are going to step-up. So once we get the final label and what is on the label IPX203 can be very, very helpful for the naive and the new patient and provide them awesome good on time compared to the current therapies on the market.
