Erez Israeli: The SG&A is used for Israel supporting our brands or supporting our capabilities, especially in us related to technology, digital, et cetera. As well as the ability to launch a new product. The SG&A will grow as related to both version one and version two. But there will be more growth that will come from the sales as it will support it. So, I see — that’s why I kind of say that it’s all about the mountains. And we that’s why we’re still committed to the same mountains that we committed.
Shyam Srinivasan: And I was just referring to referring to just the one-off expenses, just a one-off expenses, is what I’m wondering what it is?
Parag Agarwal: Yes, approximately, it would be it would be less than 100 basis points of sales approximately. And what is it for?
Parag Agarwal: I don’t think we can disclose the nature of this. This is something normal person the business but it’s not likely to recur.
Shyam Srinivasan: Got it. Thank you and all the best. Thank you.
Operator: Thank you. The next question is from the line of Saion Mukherjee from Nomura. Please go ahead.
SaionMukherjee: Yes. Thanks for the follow-up. Just one clarification as on the commentary on the US business when you talk about single-digit growth. What I understand is you’ve been talking about this even without REVLIMID before so let’s say before REVLIMID kicked in, you were doing let’s say $250 million a quarter, a $1 billion a year. So, is that the base we should take for next three, four years to see single-digit growth and there will be volatility at around that due to REVLIMID. Is that what you meant? Or you’re saying that on this larger base that you have used, you can grow single-digit in the US?
Erez Israeli: I believe that we can grow than on the cover base over time.
SaionMukherjee: Okay. And just to follow-up on you talking about 30 odd product launches. How many of them you think would be complex? And is there any improved visibility over the past a year or so based on your FDA interaction, that you’re more clarity on these launches next year? And basically, if you can give some color on the quality of launches versus the CRU , is it going to improve remain the same if you can give some color on that?
Erez Israeli: If I’m not taking into account the quality of the launches will be better. And some of them will be bigger quarter, some of them smaller. In terms of pipeline of complex products or products that can be very big, this pipeline is going up as we speak and we are working very hard on it. I believe that we’ll have a very, very interesting pipeline in the next few years of complex. I don’t know exactly what will be the onset of which one of them, but it’s a very interesting portfolio.
SaionMukherjee: Okay. Thank you. That’s helpful. Thank you.
Operator: Thank you. I now hand the confidence over to Ms. Richa Periwal for closing comments.
Richa Periwal: Thank you, everyone, for joining us today. If you have any follow-up questions, please reach out to the Investor Relations team. Thank you.
Operator: Thank you very much. On behalf of Dr. Reddy’s Laboratories Limited that concludes this conference. Thank you for joining us. You may now disconnect your lines. Thank you.
