Erez Israeli: So I’m maintaining and for me, we’ve been in this discussion in the past, I’m not taking this product out or another product because every year we have those products that contribute more to our performance. I’m still maintaining long term average of the 25-25, knowing that right now with Limo Dylamide, we will probably be above it. But overall this is the area that I’m still maintaining that we feel very comfortable, that will allow us. To fully finance all of our growth aspirations. So what we are moderating now is the level of investment that we want to put naturally. The more we have, the more we can invest into the future, which what we are planning to do. But let’s say in the next coming quarters, as long as we have this limited volume agreement in place, likely that it will be above the threshold.
Damayanti Kerai: Okay, thank you. I’ll get back in the queue.
Operator: Thank you. We have the next question from the line of Balaji Prasad from Barclays. Please go ahead.
Unidentified Analyst: Hi, this is Michaela On for Balaji. Thanks for taking our questions. Can you just talk a bit more about what led to the growth seen in Russia and how sustainable this growth is? Thanks.
Erez Israeli: In Russia we grew part of it. We have most of our businesses in retail and we are also playing in the biosimilars. So in these specific quarters we enjoyed the seasonality of the allergy as part of it as well as the growth of big brands there. I believe that the growth momentum will be in Russia. We are expecting a good year. In that respect we are also, I think so far hedged well on the ruble and protected it well. So in that respect that the combination of investing in our brands and enjoy the growth momentum that comes from the relevant products that we have, plus a good defense on the global help us to achieve these results.
Parag Agarwal: There is also impact of a low base. In the growth that we have reported this quarter. And as you know, by its very nature, Russian market is volatile. So there will be fluctuations from one quarter to another. But we are going ahead of the market.
Operator: Thank you. The next question is from the line of Surya Narayan Patra from Philip Capital India Private Limited. Please go ahead.
Surya Patra: Yeah, thanks for the opportunity and congratulations for the great set of numbers. So my first question is on this managed portfolio that has been acquired. So what is the kind of size that we would have seen this quarter out of that? And also if you can give some clarity about the profitability of this portfolio? I’m asking this question because it looks like excluding the rev limit performance, your base business has seen a sequential improvement. So from that angle, I was just trying to understand the contribution from the acquired operation in the US and its profitability versus the company’s blended base business profitability.
Erez Israeli: So indeed our base business did well even without Lina Dulimount. We closed the deals and practically started to sell at the end of April and we are actually launching product after product through this period of time. I believe that the main pickup will be in the next coming months when customers will open their bids and we will be able to bid more. So overall, let’s say that the contribution of main. Will be more significant in the next quarters come than it can in this quarter.
Surya Patra: Okay, so is it kind of still a $100 million annualized high.
Erez Israeli: Yes. In that range.
