Eric Green: Yes, Larry, it’s a really strong partnership, and we’re really pleased that earlier this month, we were able to announce our first product launch of combining our West NovaPure stopper in Corning’s Valor vials, which — what we label as our Ready Pack solution. And just to remind everyone that this is kind of a seeder or a seed program that we use in the development of new molecules. So this has been very successful for us in the past. We’re leveraging this channel to introduce this combination going forward. It’s a great testament of the focus between the 2 firms on really bringing the product together as a complete solution. And so while this is early, we saw more work to do. We have a number of launches that we have scheduled, whether it’s in 2023, 2024.
Ultimately, where we want to get to is a complete solution with the 1 drug master vial. So it’s a complete fully characterized system. And so that we’ll continue required investments. And so if you look at our R&D spend in 2023, it will be slightly up, and a good portion of that incremental piece will be around the West-Corning partnership.
Operator: . Our next question comes from Matt Larew with William Blair.
Matthew Larew: I just wanted to ask just you referenced sort of the committed order book. And I’m curious maybe if you compare the composition of that order book today versus pre-COVID, obviously, on the non-COVID part? Maybe just in terms of what NovaPure and FluroTec demand look like? I guess the question is, out of the potential FluroTec customers who you start engaging with, what does the conversion look like — excuse me, on the NovaPure side, what does the conversion look like, in terms of folks who ultimately end up choosing to go with NovaPure perhaps versus a few years ago?
Eric Green: Yes. Thank you for the question. So when I look at the order book versus pre-pandemic and then strip out the COVID piece, overall, it’s a net increase where we were at that point in time. When you look at the composite of the growth of that order book, it is really driven by our high-value products, and particularly the higher end HVPs, we’re seeing a healthy growth in plungers, not just in the NovaPure sector, but in the other categories of HVP. But — so from an order — committed order book perspective, that’s the kind of the characteristics we’re seeing right now. In regards to the adoption rate, it’s actually quite high. So our participation rate, particularly in the biologics and biosimilars is very, very strong.
And what we are doing is we’re seeding with the NovaPure portfolio. And once that is locked in, in the development phase as they go through into commercialization, that’s the end result. Better outcomes for our customers, obviously, better compatibility with the drug molecule. So we’re very excited to see the continuation of that adoption of NovaPure and that’s hence the reason why we’re putting these investments in place, and we’re seeing more of a transition from vials to prefilled syringes which will require our plungers. So that’s where we are, but it’s a very, very healthy growth profile of the higher end of HVPs.
Matthew Larew: And then just maybe a cleanup one on the equipment issues you referenced on the third quarter call. How does that end up impacting fourth quarter results relative to expectations of where do things stand now halfway into the first quarter of ’23?
