Marco Dal Lago: I cannot disclose any specific prospect with a single customer. What I can say is that, if you look at the new FDA approval, in terms of potential €“ and we have data about the four main blockbusters for the next year. I can confirm that we are in three of these projects among four. So, we expect to have certain contribution but at the same time the high diversification of our portfolio in terms of customer, in terms of therapeutic areas, we remain a factor to make our business resilient.
Lisa Miles: Yeah, I just want to confirm, clarify your question, it seems like your question he was asking related to things like GLP1, the average revenue per component. So, basically what type of products would we be selling into those.
Marco Dal Lago: In this tunnel of the format we are talking about biological molecules, the molecules, the first option is to deliver bio-syringes. So we expect to have impact in this kind of product line. But that we are sure is to high value solution syringes because that we are directing the needs of molecules that are highly sensitive. And so, we have good prospects including our next add of syringes in that space.
Derik De Bruin : Thank you.
Lisa Miles: Thank you. The next question please.
Operator: The next question is from Tim Daley of Wells Fargo. Please go ahead.
Tim Daley : Hey, thanks. So, just wanted to touch on the kind of broader biosimilar tailwinds as this becomes a bigger dynamic in the United States. Just thinking about the value curve here, of the components that you sell, how would your biosimilar assets compare to the original assets like, what biosimilars be using next and all the syringes? Would there be a step down to more commoditized type of solution when it comes to biosimilar just, any help would be appreciated.
Franco Moro: The first comment is about the suitability of our product to biosimilar. We are in a very strong position because as we serve the originator that serves then a biosimilar component like to de-risk their business using the same solution that’s approved to be the right one for the originator. Second point is that also for biosimilar, the cost of the container remains a minor part compared to the total cost of treatment. So there is no expected significant impacts in the competitiveness of our solution because of a different competition on the treatment side. This is the two comments that are also based on our experience along the years.
Tim Daley : Okay. I appreciate that. And then, secondly, thinking about raw material pricing and the security supply on the glass front, I believe you guys in November every year started new master supply agreement, new suppliers on glass tubes. How did that go? Was there any changes on the price fronts, cost fronts, supplier duration anything, anything changing I guess on that side of the things as we look forward into 2023?
Lisa Miles: I just can’t clarify your question, Tim. I think you are asking specifically about glass tubings and as we are going into 2023, if there is any changes in the pricing, is that?
Tim Daley : Right. Price costs in terms of your supply of blast tubing, correct.
Franco Stevanato: Yes, in the last part of the year, we are normally in the renewal process of a commercial agreement with a supplier. We see some impact of inflation even if there is a come down of cost of energy that is much less than the hotter period in the middle of 2022. But we look at these increasing cost and we are back to the €“ to recalculate the cost and pricing accordingly including the marginality in this case that is something we can’t €“ could not do 100% during 2022.
