Matthew Weston: Can you hear me? I apologize. You’d have thought for a couple of years of COVID, I would have figured it out. It’s a slightly odd question about contract manufacturing, actually. You’ve now taken the biologics contract manufacturing out of Sandoz, and it’s a relatively meaningful quarterly revenue number growing strongly. I also noted that you recently took on, I think, a contract manufacturing contract for CAR T from Bristol and Legend. I’d just be very interested to understand whether it’s a strategic part of the Novartis business and you’re trying to fill excess capacity across the network that you have or whether it remains more just sort of an ad hoc and opportunistic affair? And how big could it be, Harry? Could it be a $1 billion business for Novartis over time or more?
Vas Narasimhan: So, I’ll start with the strategic side, and then Harry can comment on the financial outlook. It is strategic. When you look at our investments over the last five years in advanced therapy platforms, we built up quite a bit of know-how. We believe we’re 1 of the largest producers of AAV gene therapies in the world one of the largest producers of CAR therapies using lentiviral technologies in the world through the pandemic. We began a major producer of plasmids, also a producer of mRNA through Leqvio, we will soon be the largest producer of siRNAs through our facility here in Switzerland through the capacity expenses, particularly with automated lines with RLT, we will likely or surely be the largest producer of RLPs in the world.
And so the opportunity exists when appropriate competitively to leverage that manufacturing base to generate a high-margin business for the company. and that’s why we moved it over. It will build over time, not overnight, but it certainly was a strategic consideration to move it in this direction. Harry?
Harry Kirsch: Yes, Matthew, I would call it, it’s a mix of strategic and opportunistic. We have very good capacities our production manufacturing teams are doing a great job increasing yields. So also, our cost of goods are very competitive. Of course, in terms of priority first is the Innovative Medicine strategy as well as the Sandoz biosimilars, right, with which the future Sandoz will have very clear contractual obligations. And then, of course, if there’s capacity available, again, with contractual obligations, we will leverage further. And we do have further capacities — and that’s — so at the moment, when you look at it, we had a run rate $0.5 billion, if I recall correctly, right, it’s growing. So, your $1 billion is not too far away over the years. right? So that could be a meaningful contribution. Of course, not like a big product, a big brand, but very important in terms of further maximizing our capacity as well as nice delivery to the bottom-line.
Vas Narasimhan: Very good. So, thank you all for joining today’s conference call. I really appreciate the interest in Novartis. We look forward to continuing to deliver over the course of this year and keeping you all updated as we progress. And we wish you a great week. Thank you.
Operator: Thank you. This concludes today’s conference call. Thank you for participating. You may now disconnect.
