Gary Nachman : That’s okay. So I’ll start over. So you have a clear strategy of building out your biosimilar capabilities while a competitor decided to sell off its biosimilar business. So how much more critical mass do you need to maximize value in that market long term? And then how do you see market formation, particularly with Humira biosimilars and the benefit of having an interchangeable available? How does that impact your payer discussions? If you could give us some color on that. And then just on the generics business, Richard, will you be able to get back to $1 billion per quarter or so in North America, that was previously a target the company had. Just talk about some of the dynamics there, and you think you’ll be able to stabilize that business? Will it continue to decline maybe talk a little bit at a high level about the pipeline and maybe how that could return that business to growth over time?
Richard Francis : Thanks, Gary. Thanks for your questions and sticking with us on the technical issues. So on the biosimilar one, I’ll take a stab at these questions and also maybe tag team it with Sven, my colleague. So on the biosimilar, I don’t want to comment on other companies’ strategies. We’re focused on our own. But what I would say is, and I’ve got a history here, I do believe in the biosimilar opportunity in the market, and I think it’s significant. And I think it’s significant in the U.S., and I think it’s significant in Europe and the rest of the world. I do believe it has an opportunity to drive growth over the short, medium and potential long term. I do think to answer one of your parts of your question, it does require you to have a deep pipeline.
And I think one of the things is you’ve got to be able to continuously launch biosimilar products as they become available. And so I think the team have done a good job here in building out a pipeline. We want to make sure we continue to do that. We want to make sure we continue to have a geographical spread of that pipeline as we go forward. But yes, I see biosimilars as an opportunity to drive growth in the short and medium term. Now when we talk about the market formation of biosimilar Humira, what I would say is let’s not forget the size of the price here. This is over $17 billion in the U.S. I was part of the introduction of Humira into the European market. So this is a big asset where I think payers and healthcare authorities can garner some significant savings.
I think that’s going to bear out over time. I’ll let Sven talk a bit about how quickly that can happen. I personally believe the interchangeability in some of the product profile characteristics we have biosimilar Humira really differentiates us and allow payers to think about actually switching and transferring patients a bit more easily than they would on other products that don’t have those characteristics. But I’ll let Sven answer a bit of that. And then on the GX, I’ll take a stab at that as well. In the — look, I obviously don’t have history with this $1 billion comment. And so I can leave that behind from my perspective. What I would say is in the U.S., stability of our generics business should be driven by our product pipeline, what we launch, when we launch and the ability to do that.
