Michael Shapiro: No. I mean, I think, look, we — as John mentioned in his prepared remarks, one of the things that we really pride ourselves on is look, we have direct procurement relationships with biopharma. We have very intricate and developed relationships where we’re supporting them both preapproval as well as post and that’s one of the reasons why we’ve been successful in building a portfolio of well over 50 limited distribution therapies. I would characterize our discussions with biopharma is robust, and we continue to speak with them on a number of not only new novel therapies, but also maybe some therapies where they’re looking for additional indications or a broader use. Again, some of the categories where we’ve seen some traction over the last couple of years are in myasthenia gravis, multiple sclerosis, some of the emerging chronic therapies for drug-resistant HIV, et cetera.
We’ve consistently launched one to three at least a year. Again, Pito, as you know is, we’d like to characterize right out of the gate. These aren’t home runs. They’re typically singles and doubles. But over time, you can work with them post launch to continue to support commercialization efforts. And I think that, again, we don’t commercialize everything that’s infused. It has to make sense for us strategically and clinically and economically as well. And we continue to expect to commercialize one to three at least a year.
Pito Chickering: Great. Thanks so much guys.
Michael Shapiro: Thank you.
John Rademacher: Thanks, Pito.
Operator: Thank you. Our next question comes from the line of Jamie Perse with Goldman Sachs. Your line is open.
Jamie Perse: Hey. Good morning, guys. Sorry to go back to the inflationary question. I want to make sure I understand the message there. I get that you’ve got another quarter or so where it’s not in the base and so you’ve got to absorb the inflationary pressures that have started last 2Q. But from there, is the message that you expect the rate of growth of some of these cost inputs, labor, medical supplies, et cetera., to go back to normal or are you expecting continued elevated inflation in some of those line items?
Michael Shapiro: Yeah, Jamie. Good morning. It’s Mike. So look, we don’t expect the cost to subside. We don’t see some of these categories getting considerably worse. I think a lot of the areas of our cost structure have plateaued. Having said that, we continue to expect that there’s going to be some inflation going forward across a broad array of categories, including labor, building and facilities some of our medical supplies, et cetera. And so, I don’t think we’re expecting it to be high single-digits as it was in middle of 2022. And so our presumption going into it is, there is going to still be — as you mentioned, Jamie, going back to normal rates, I think our normal rates are, there’s going to be some modest inflation that we’re going to have to continue to offset and tackle, which is how we’ve formulated our guidance.
We’re not expecting 7%, 8%, 9% continued inflation in these categories. But even at plateauing or saying relatively stable, as you mentioned and as we try to articulate, there’s still a buy-up for the annualization of what we think is the new cost environment.
Jamie Perse: Okay. That’s helpful. And then just on rate increases reimbursement increases, it seems like your tone has changed a little bit there. You’re now trying to get reasonable rate increases where appropriate, where you were at. Can you give us a sense of what you think reasonable means and how broadly it is appropriate?
