Operator: Thank you. Next question today is coming from Danielle Antalffy from UBS. Your line is now live.
Danielle Antalffy: Good morning, everyone. Thank you so much for taking a question. Just a follow-up on some of the capital allocation commentary. Joe, I appreciate what you’re saying that things haven’t changed. But I’m just curious now that you guys have integrated Abiomed, you’re seeing some success there, how your appetite for specifically within medical devices and MedTech, how your appetite for potentially larger deals may have changed? And are there any specific areas you would call out within cardiology now that you do have Abiomed or just with — throughout medical devices as areas of interest or where you feel underscaled and you might benefit from building out there? Thanks so much.
Joe Wolk: Yes. Good to speak with you Danielle. And I know you directed the question to me, and I’ll answer with one word. I would say our appetite is pretty voracious at this point. But I’ll leave it to Joaquin with respect to the size of the deals. I don’t think it — unequivocally doesn’t change, whether it’s big or small, it has to be a really good strategic fit utilizing the expertise and capabilities that we have and has to provide financial value. Joaquin, maybe you want to comment on any specific areas that [Indiscernible]?
Joaquin Duato: Yes. Thank you, Danielle. And before I go there, let me say that the Abiomed integration is progressing really well. The growth of Abiomed, it’s been 20% on the quarter and we continue to move forward with the enrollment in the key PMA studies, PROTECT and STEMI DTU as well as the Impella ECP. So everything is moving well according to plan in the Abiomed integration. And we are increasingly convinced that this is going to be a key component of our MedTech strategy in becoming a leader in heart recovery. So when it comes to M&A, look, we continue to look for opportunities. And our number one criteria in looking for opportunities is the medical innovation, how they improve patient care, how do we see the science behind the product.
So we are agnostic in that sense to MedTech and Pharmaceuticals. It’s all about identifying areas that are going to have a significant impact in patient care. When it comes to MedTech, certainly, as we have commented, we are continuing to look forward for opportunities to grow into areas that are close to where we are today. Vision, cardiovascular obviously, surgery too and also opportunities in certain high-growth segments of Orthopaedics. And we normally will continue to look for these opportunities, trying to have a good return on capital, as well as things that are close to our existing expertise. When it comes to Pharma, our history in tuck-ins, in license and collaboration has been very successful. As a matter of fact, external innovation represents about 50% of our pipeline.
And while we will continue to look for opportunities like we have done now with Cellular Biomedicines and the agreement that we have too in CAR-T, we are not averse to other transactions of larger size. Evidently both in MedTech and in pharma, we are very disciplined with our capital allocation. And all our transactions will have to clear certain financial milestones for us to be able to move on. But M&A and also licensing acquisition collaborations remains a key factor in our growth moving forward.
Jessica Moore: Thanks. We have time for one more question.
Operator: Thank you. Our final question today is coming from Louise Chen from Cantor Fitzgerald. Your line is now live.
Louise Chen: Hi, congratulations on the quarter. And thank you for taking my questions here. So I wanted to ask you where your latest thoughts on IRA are and the potential impact to the drug industry and also to J&J? And second question was just on CARVYKTI. Just curious how you expect to enter into earlier lines of treatment and then more widely into the community? Thank you.
