SamEldessouky: Yes. And margin expansion is a very important factor for us, and we’re – and we understand and appreciate that we want to continue to provide progression within the margin expansion. And as Ben said, we’re focused on it from a sustainable margin expansion, and that’s really where – our goal here is to accelerate our growth and accelerate and expand our product portfolio. And you start to see many of the actions we’re taking today, is to build on the fundamentals of the business, such as the consumer brand where we talked about LUMIFY and expanding the growth of LUMIFY, which is a pretty good product for us. And combining that with as well, putting in launches and shifting the portfolio to more of premium type of products.
And we’re seeing that in the surgical side, we’re shifting more into more of the premium category, which that will – and MIEBO, which is more a higher-margin product, because of the pharmaceutical. So we expect that will continue to provide a positive impact on the margin as we move forward. My comments here, Matt, in terms of the expectation with the investment is, because it’s not just one side, it’s both sides. So we’re actually – we’ll be seeing the margin expansion, but you’re not going to see the full margin expansion potential, until you start going through this investment cycle.
BrentSaunders: Right, it’s kind of like a funnel, right? We’ve got to invest to get to the products that provide the greater margin, but we have to be aware that we need to continue to have a focus on margins. So it’s front of mind and something we’re very focused on.
Matt Miksic: That’s super helpful. And then just one follow-up on dry eye and that is – that market is a variety of different ways that clinicians and manufacturers are coming at providing solutions. One is a device strategy that someone is kind of against drops and things like that, as I’m sure you’re aware. Can you talk about bridging, what now is a pretty solid portfolio on the therapeutic side, with efforts on these sort of like device solutions that some of your competitors are rolling out to the clinic as well?
BrentSaunders: Yes. Look, we obviously want to make sure there’s a steady stream of innovation in the category for physicians and patients. And we keep – and I particularly keep a very close eye on those innovations. On the device side, I think there are some interesting technologies that are emerging and could be effective solutions for patients. But none yet that I think rise to a level that are super impressive or perhaps more in the niche category for severe sufferers or the like. And so we do keep an eye on it, but I think the mainstay will be the variety of options in the pharmaceutical side for most patients. And there you see a lot of innovation coming on the inflammatory side of the spectrum, and that’s quite a competitive marketplace, and we’re excited that we could have potentially a treatment option for both evaporative and inflammatory disease. Different markets, different products, but providing options for physicians and patients, I think, is important.
Matt Miksic: Thank you so much for the color.
Operator: Your next question is coming from Robbie Marcus at JPMorgan.
Robbie Marcus: Great. Thank you for taking the question. Congrats on a good quarter. Two for me. Maybe first one, Brent, you made the comment before, I forget exactly what it was, but something along the lines of, we’re not just a pharma company. But most of the growth in the quarter is coming from pharma, a lot of your pipeline launches, where there’s incremental revenue is from pharma and you did just do a big deal on the pharma side. So maybe just kind of give us your thoughts on how you’re thinking about managing the company, your view on, what is Bausch & Lomb and how you’re spending your R&D between the two and thinking about future investments?
BrentSaunders: Yes. Thanks, Robbie for the question. Yes. So clearly, I don’t view us as a pharmaceutical company, I view us as an eye care company, and we want to plan our heritage of being the best eye health company. And that means having a strong pharmaceutical business, but also a strong Vision Care business, a strong surgical business, a strong consumer business. And I think when all four businesses are innovating and driving growth, margin expansion, I think then we can start to get into the realm of being the most profitable – I mean the best eye health company. When you think about pharma, I get why people say that because we just did a big deal in pharma. But even when that closes, the pharmaceutical business would still be roughly about a 1/4 of our business, so 75% will be non-pharma.
