So, now, it may fluctuate because of pressure. Usually come to predict the market share, it’s hard to predict. So, unfortunately, I cannot — I don’t know what will be quarter-on-quarter, but absolutely, we are planning to growth in United States.
Surya Patra: Okay. And is it fair to believe so, the next year, we will see a kind of a meaningful ramp of in the kind of spend towards Horizon 2 plans — growth plans versus current year?
Erez Israeli: We don’t like to ramp up spend, we are planning to spend in accordance — in a very disciplined manner in accordance to our growth. At the time, we indicated that we are going to have more expenses both on the SG&A as well as the R&D, but within the range of profitability that I mentioned in the past, so we will be able with our growth and our cash to finance the investment, it will not be extra, and — because of the profit .
Surya Patra: Sure sir. Okay. Thank you. Wish you all the best.
Operator: Thank you. Next question is from the line of Prakash Agarwal from Axis Capital. Please go ahead.
Prakash Agarwal: Yeah hi. Thanks for the opportunity. Good evening. Just wanted to understand one is the industry level question. So, we’ve been seeing a lot of USFDA issues going to the next level and we’ve been hearing that there’s a volume distribution that is happening to the large Indian and global players in the US generic side, are we seeing that happening to us also? We are getting some volumes for our base business, would that be correct understanding?
Erez Israeli: We too have a growth in volumes. I cannot attribute necessarily for that in the growth at least we are facing is from activities that were initiated primarily. Naturally, we are watching carefully all the results of all the inspections that are happening in India and outside of India. So far for us, knock on wood, all of our plans are operating in full compliance.
Prakash Agarwal: Okay, okay. And with that kind of volume gain, et cetera, do you think there is some improvement in pricing on base business or it still remains mid to high single-digit for the base portfolio?
Erez Israeli: I’m not aware of any, let’s say, special phenomena that can indicate both on price or quantities as related to that.
Prakash Agarwal: It remains similar to the–
Erez Israeli: Maybe marginal. Maybe.
Prakash Agarwal: Okay, okay. Fair enough. So, would it be fair to say that the incremental growth, you had some approvals and launches for sure. But with the price erosion, it nets off and the incremental sales momentum is coming from this product itself?
Erez Israeli: I believe that growth is coming because we are giving better service to our customers and they appreciate it.
Prakash Agarwal: Okay, okay. And last one on the capital allocation, we’ve seen some companies being successful in late-stage innovator led programs, are we thinking about it? Or in the past, we had done 505(b)(2), and then we move to self-sustaining and selling those assets. So, what is the plan for both these — I mean, if there’s any plan on both these strategies?
Erez Israeli: We are not planning to come back to the 505(b)(2), we worked hard to get out. Horizon 2 contains activities that are differentiated by design. So, we are talking about the 11 spaces in India and a couple of spaces outside of India, in Aussie market, Europe, as well as United States. We do have NCE as part of our origin discovery, especially in the area of cancer. We do have activities in cell gene therapy, in therapeutic management, in , in pharmaceuticals, as well as in other innovation in go-to-market, this is part of the Horizon tool that we have, but not 505(b)(2).
Prakash Agarwal: Okay, lovely. Thank you, sir. Thank you and all the best.
Operator: Thank you. Next question is from the line of Sameer Baisiwala from Morgan Stanley. Please go ahead.
