WELTRUZA™ (olanzapine) Approval – Conference Call - TEVA PHARMACEUTICAL INDUSTRIES LTD

Hello and welcome to the Welltrusa Approval Conference Call. My name is Alex and I'll be coordinating today's call. If you'd like to ask a question during the presentation, please press star followed by one on your telephone keypad. I'll now hand it over to Chris Stevo, SVP, Investor Relations. Please go ahead. Thank you, Alex. Good morning and good afternoon, everyone. Thankyou for joining us on short notice to discuss the US FDA approval of Welltrusa, Lanzapine, LAI. The materials are posted to the website this morning, and the press release is also on our website. And before I turn the call over to Richard Francis, I'd like to remind everyone that we'll be making forward-looking statements on the call. The company cautions investors that any forward-thinking statement involves risks and uncertainties and is not a guarantee of future performance. Actual results may differ materially from those expressed or implied in the forward- looking statements due to a variety of factors. These factors are described in our earnings press release and our most recent forms 10-K and 10-Q filed with the FCC. Any statements that we make are only valid as of today, and we undertake no obligation to update those statements subsequently. And with that, Richard, the floor is yours. Thank you, Chris. Thank you everybody for joining the call. On the call today will be Eric Hughes, head of R&D at Chief Medical Officer, and then for the Q&A I will be joined by Chris Fox, EVPR Executive Vice President of U.S. Commercial, and Eddie Gleif, Chief Financial Officer. So moving on to the next slide. and the next slide please once again it's great to be having a call with you where we talk about the execution of our pivot to growth strategy a strategy we started back in 2023 a strategy that was designed to move taba from a pure play world-class defense company to a world- class by a pharmaceutical company and i think we've made incredible progress if you remember it was a three phase strategy the first was to return to growth we've done that over the last three years the second phase was to accelerate growth and that acceleration was going to come through the limit delivering on our growth engines our innovative products that we have in the market that we often talk about but it was also about really bringing an exciting pipeline to the market um and i'm really excited today that we're in a position where we can start to talk about that step up innovation and see our pipeline start to materialize now if you go If we go on to the next slide, 2026 has already been a year of acceleration, you could say. We've had a number of milestones already this year to do the key to maintenance data, the ECOPIPE and accepted by the FDA given priority review, the NCR15, you saw some data in vitiligo and recently in celiac disease. But today is all about Welltrusa. And it's a special day for patients, for physicians, and for families that some of their members have schizophrenia. And as Teva, we're really proud to be able to bring Welltrosa to the market to help this patient population in coping with that condition. So exciting for us at Teva. Exciting that it's a year where we keep bringing new data, new opportunities to drive this long-term acceleration of TELA. But with that, I know everybody's excited to hear about the data, so I'll hand over to Eric. Thank you, Richard. I really appreciate it. And if I could have the first slide. I have to start by saying we're just delighted by the approval of Welltrusa by FDA. And I just want to start off by saying, you know, this begins with the patient. patients with schizophrenia, it's a devastating disease for patients, and it can be a devastating disease for their families as well. But the most important thing is that we do have treatments for schizophrenia. And what Welltrusa will bring, we hope, is that chance of decreasing relapses, because we're going to take advantage of the long-acting injectable for them. So this relentless progression of negative positive cognitive symptoms over years, we want to prevent those relapses, which would cause the hospitalizations and cause the progression of their disease. So we've thought about the patient from day one, and we believe that we're really achieving a great thing for them today. Come to the next slide. You know, this patient population is not insignificant. There's 2.2 million people in the U.S., about 1.5 million of them get treated, and 20% of all those patients who get treated are on an oral olanzapine. Or, you know, olanzipine is a known treatment for schizophrenia. It has powerful efficacy and a known safety profile. And our telecommercial organization is set up to succeed here. You know, we have a deep understanding of the patient journey, which is very complex. You know we've been doing and detailing these patients and caregivers with our UZEDI program, and we're building upon that great expertise. As I mentioned, ONS has been a demonstrated safety profile, and we have go-to-market capabilities that are, I think, leading in the industry. But let's get to Welltrusa on the next slide. You know, Welltruso really epitomizes, you know, the R&D strategy at Teda. You know we choose unmet medical needs that need to be addressed. We innovate based on the formulation. brought and built upon the known safety and efficacy of Welltrusa, we innovated with the formulation by design to differentiate it for the market. We executed the studies with high velocity by accelerating the program six to nine months, and that brought in an on-target submission, which then led to an approval that was right first time. So this is our plan. This is how we build upon known science and accelerate it to bring a treatment for unmet need in patients. So we're very proud of this, and I think this is a winning paradigm for our company. Go to the next slide. So what gets us so delighted and elated at TEDx this morning? Well, you know, while TRUZA builds upon the known efficacy and safety of the Lanzapine ISET, this is tried and true treatment for schizophrenia, and as I mentioned, that's 20% of the oral market right now for patients. But we innovated on it. We brought a once-monthly subcutaneous dose that is no loading dose, no oral supplementation, and no post-injection monitoring. These are the critical attributes of what we needed to achieve, and we delivered on that completely with this label that we have gotten approved by the FDA. So I'm very proud of the work that the R&D organization has done and the work we're collaborating with our commercial colleagues to make sure that we get this treatment to patients as quickly as possible. So we're very excited by all the results that we've achieved to date. And this really fills a long-standing gap in care. There are no other alternatives for long-acting injectables that are viable compared to Welltrusa. So, we think that we really are addressing an unmet medical need with the innovations from our labs. Can I have the next slide? And I want to bring it back to the patient on this last slide. I said that the most important thing is preventing relapse. That's what long-acting injectables continuously show, that when you get rid of the problem of adherence, adherence is the problem of breakthrough and relapse for these powerful drugs. By bringing an easily used subcutaneous injection that's once a month, we're chipping away at that adherence problem. And you can see in our follow-on study from Solaris in period two up to about a one-year follow- on, only 4% of the patients relapsed. This is the critical element of what we want to help patients do. Get a treatment that's easy to use, well-known and efficacious, but take away that problem of adherence with a subcutaneous injection once a month. So we're very proud of this. We have great hope for patients in the future, and we're looking forward to getting this out as widely as possible. And with that, Richard, I'll hand it back to you. Richard S.: Thank you, Eric. Thank you for walking through that. And we finish on this slide. I just want to give you a bit of context to this slide, this is the image that you will be seeing around with regard to Veltruza. are doing a direct DTC campaign with Welltrusa and we're doing this because we believe that we have created a real opportunity for these patients as Eric has mentioned and the physicians that start treating their patients differently with this molecule and to do that we want to make sure people are aware of it both physicians are aware, of it patients are aware ,of it their loved ones are aware of it. So it gives them the chance to get back into that office and have a discussion with their physician. And the physicians are also aware of this. So be prepared to see this. And this builds on, for many of you who know us, this builds upon the capability that we built with Estedo, where we had to remobilize a patient population with tardive dyskinesia and help physicians start to treat those patients differently for the first time a long time. So good capabilities that Eric had mentioned we already have in schizophrenia, but good capabilities about how do we mobilize this patient population to help them understand there is a new treatment out there. And with that, I will now open it up for Q&A. Thank you. As a reminder, if you'd like to ask a question, you may press the offload by one on your telephone keypad. And as a reminder if you are using a speakerphone, please remember to pick up your handset before asking a question. Our first question for today comes from Joseph Tomei of TD Securities. Your line is now open. Please go ahead. Hi there. Good morning. Congratulations on the approval, and thank you for taking my question. Maybe just as you think about the perfect patient for Wiltruza versus Uzetti, I guess, do these patients fit in sort of nice targeting boxes for you, or do you think there's going to be overlap? I guess how do you thing about that? And second, our physicians do indicate that they want to use LEIs more in practice, but sometimes there's some logistical hurdles at the site. Obviously, the differentiation of monitoring will be great, but can you talk a little bit more about what TEVA's doing to make sure the physicians have a good first experience at the prescribing site for Waltresa? Thank you. Thanks, Joe. Thanks very much for the call. Very much appreciate it. And I know Eric will be itching to answer that one, because I think you'll hear that we very, very much thought about the value proposition, what physicians need from LAIs, what they expect that they may not have gotten. And also, will you talk about the co-positioning of these two products? I'll hand over to you, Eric. Yeah, so thanks for the question. I heard two things there. Who do we envision starting on, well, Truza versus Uzetti? Well, the first and most obvious places to start with, those who are on an oral risperidone can take Yuzeti, and those who aren't on oral olanzapine can start Waltruza. I think that's a natural selection that's already out there in the field. What we're delivering, though, to your second point is, you know, something that they haven't had before, an injection that is easy to give to a patient. It's subcutaneous. It doesn't require any loading doses. It Doesn't require any other supplemental oral medication. So a lot of the hurdles of an intramuscular injection, a complicated way of starting it, we've removed that and given them something that really is a great treatment option for patients. That's the unmet medical need, and that will also address the basic problem of relapse due to non-inherence. So we've moved a lot of those barriers, and the natural place that I think that patients will come from is those those oral options that they're on already remember 20 of the oral market is olanzapine and we're providing the the first best option that's really viable for a long-acting injectable thanks eric is there anything you'd like to add to that chris fox sure absolutely good morning everyone yeah this is a really exciting time for us and i love the the nature of your question of how do we instill a better experience with LAIs. This is something that we've been partnering with Eric and his team on because we know that this was such an untapped need. And you can see that even as an example with Uzetti and how we're growing that market because there is starting to be more anticipation of how LAIs specifically prevent relapse, as Eric showed in the data, and provide a much better experience, not just because of the no loading dose and no oral supplementation, but also it prevents, you know, irreversible function decline when these patients have, you now, breakthrough symptoms or are non-adherent on an oral. So, we've been preparing for this launch, I got to say, for a long time. It's been well over a year. We had an extraordinary nationwide launch meeting last week and doing exactly that, you know, our go-to-market and really the education that we're going to use specifically on olanzapine, but also co-located with Uzetti. I think we're in a unique leadership position to be able to cover most of the schizophrenic patients, about 80% across this continuum of oral olanzaphine patients and oral paliperidone and risperidone patients with Uzeti. So we're really excited. We've got lots of work to do, but we have the right tools and now, importantly, the right franchise in Uzetti and WellTruzo. Thanks, Chris. Thanks, Eric. Next question. Our next question comes from Uma Rafat of Evercore ISI. The line's now open. Please go ahead. Hey, guys. This is Mike DiFiori in for Umer. Thanks so much for taking my question, and congrats on the approval. Two questions for me. One, are you able to disclose the pricing at this juncture? And number two, just given that, if you look back at oral brand is olanzapine, Zyprexa, I think it reached around $5 billion in worldwide peak sales. Would you be able to comment whether that potential could be reached with the Lanzabine LEI, or do you have any at least preliminary comments on what you expect for Oral 2 LEI conversion? Thank you. Thanks, Mike. Thanks for the question. So to answer the first question, the wholesale at the WAC price is $3,950, to give you that. And then to the second question, which was touching upon the opportunity here, which is a good question, and I think it's probably based on the product profile that Eric just walked through, as well as the label that we have. Look, we put down in our forecast $1.5 to $2 billion for Yosedi and Weltruza. I think there's a lot of enthusiasm around Weltruz because of the product that Eric just talked about. I think for us, it's about making sure we get out there and do what Chris Fox said, make sure people have an understanding of where these products can be used, how effective they are, how they fit into their clinics, how patients can benefit from the compliance and the adherence. And if that plays out well, then obviously we're going to have an ability to hit those targets of 1.5 to 2 billion. But I think you probably know, Mike, from talking to us in the past, you know, we tend to think about this in a very thoughtful way. we want to see how this plays out it is a very managed area managed care and so we've got to be thoughtful about that and so let's get started let's let's talk about what the ambition could be in the long run. But I'm glad you see it as a big step forward for the treatment of schizophrenia patients. So thank you for that. Thank you. Our next question comes from Louise Chen of Scotiabank. The line is now open. Please go ahead. Hi, congratulations on the approval and thanks for taking my questions here. I just wanted to ask you on payer coverage, when do you expect that to ramp up and, you know, what are the different stages here? What are the out-of-pocket costs per patient? And then the other thing I wanted to asked you about is we think about modeling the sales. I know the progression will be later on in 2027, but how should we think about growth to net progression and also margins for the product? Thank you. Yeah, so thanks, Louise. I'll probably start the frame a bit and then hand over to Chris Fox on this one. But from a payer point of view, as we've spoken about in the past, this is about firstly getting Medicaid on board state by state. And as you may well know, these do start at different times. So day one, we get some Medicaid and then some take as much as 12 months, even some beyond that. And we think we'll have about 85 percent coverage at the end of the first year. Medicare is harder, and that's about negotiation. And as you've seen with your study, we are all about making sure that we get value and access. And we understand that we have a valuable product here because of the product profile, and we want to make sure that is appreciated. So I think that's how we think about it. And that's partly also why, to touch on your point of revenue, we don't see significant revenue in H-1 next year because this is about getting all the Medicaid states on board. getting into the hospital formaries, getting some good breath to be used for physicians, and then actually some debt. And that's what you'll see in the second half of the year. So that's how we think about it. And as I usually model it, that's how it comes to a payer access. It's mainly in Medicaid and Medicare. There is a small amount which would be in commercial. And then maybe I'll hand over to Chris to talk a bit more about one thing about the out-of-pocket, but also the comprehensive of services that we have to ensure that patients, you know, can get access to this. So over to you, Chris. Thanks, Richard. Great question. You know, we are modeling this similarly, as Richard just said, you Know, our approach is to really balance very wide access with preservation of value. And so it's really important to start with those Medicaid patients. And as Richard elegantly articulated about, you Now, the process, it is state by state. And so that's something that we'll look to address much like we did USETI. The out-of-pocket for patient is very different based on their coverage and if they're dual eligible, all of those things. And the team has built a really extraordinary kind of patient hub to be able to help that. And so it's a very bespoke service that allows for us to optimize their experience and give them access as early as possible. And I think the other big thing I'm excited about is very rarely do we get to launch another product so co-located with the current product, and that's Uzetti. So we have lots of synergies in this space, both in our experience with providing those patient services, prescriber services as well, and as importantly, as Eric pointed out, this deep understanding of the patient journey. So how do they go from oral and get on an LAI? All of those things are such an important part of that. Access is a big part of it, but all of those other surround sound things contribute to that experience as well. So we're excited to apply the learnings and the knowledge that we have and, you know, help support patients. Thank you for the question. Thanks, Chris. Thanks for the questions, Louise. Next question. Our next question comes from Les Salewski of Oppenheimer. Your line is now open. Please go ahead. Good morning. Thank for taking my questions and congrats on the approval. I have two, one on distribution and one on the funnel of patients. So on the distribution side, given the refrigeration aspect, how are you setting up distribution and buy and build versus specialty pharmacy? And when do you expect the permanent J code? And then second on the final patient, you sized the LAI suitable patients at 20% of the oral population. Can you perhaps just walk us through the first year patients come from? Is it respite switches, recent hospital discharges, or the stable oral patient group? Thank you. Hi, Les. Thanks for doing the call. I'll hand those straight across to Chris Fox. So Chris on the distribution, he had that, and then on the funnel of patients, which will be the first to come across to Welltrusa. Yeah, sounds great. Yeah. So we assume that based on all the market research that we've done, that an oral olanzapine patient that is not compliant for a variety of reasons would be a perfect olanzipine LAI patient. From what physicians tell us, they're very, very familiar with the molecule and they really appreciate the efficacy and the control that it gives them. So in our discussions, you know, leading up to this and the market research that we've done, we see that opportunistically as the perfect place to start. And we'll see where that goes from there. I mean, some of the experiences that we had on Uzetti is that once patients and physicians get experience, they then start to architect for themselves what that looks like and what the perfect patient profile is. And so that's something that we'll be interested in keeping you guys updated on. But we certainly think that that's going to be where we start and where we go from there. And I think that this is going to be a very broad opportunity, as Eric said, given that oral olanzapine represents about 20% of the total patients. On the distribution question, just general code. So we don't have to wait for a J code. And we expect to launch as we did with Uzetti. So, we will have products available, sample and hospital kits as well. So physicians can have those experiences and then get the product in channel in the next couple of weeks and get patients on therapy. Thanks for the questions. Thanks, Chris. And thanks for the question, Liz. Next question. Our next question comes from David Amselm of Piper Sandler. Your line is now open. Please go ahead. Hey, thanks. So, if you take a step back and look at the LAI antipsychotic space, I think the share of all LAIs is somewhere in the team. So I guess my question here is, as you think about this product, can you give us a sense of where you think its share of the It could be in terms of percentage of oral olanzapine switches. Do you think that share could ultimately be higher in terms of percent of LAI to oral? So that's number one. And then as you think about market expansion down the road, any comments on bipolar mania? I know oral olanzapine also is used quite significantly in mania. So any thoughts on that program? Thanks. Thanks, David. Thanks for the question. And we've sort of – a lot of people ask us this question. And when we think about it, you said, you know, the teens. It actually varies a bit. It's around about 13% to 14% the LAI market. and slightly higher in Europe, by the way, with no T. But that is obviously a non-alanzapine because, as Eric pointed out, there is not a used long-acting alanzaprine on the market right now. So an analog could be, well, the same will happen in alanzoprine, so 13% transfer to LAIs. That's a very crude way of looking at it, But obviously, that is something that's already happened, and that's fairly significant. Would that change with an Lansbury and LAI? Would it be the same? Would it below? Would it behind? We'll wait and see. What we do know, and what I think Chris Fox highlighted is, to the market research we see, there is significant demand for this. And I think Eric mentioned it in his opening remarks. Compliance is key when you have severe schizophrenia. and and they have been anticipating having an effective monthly treatment for some time combined with the fact that obviously this has no bloating um getting to therapeutic levels very quickly etc so i think that makes us feel optimistic but if you're sort of trying to model it they would i'd say yeah 13 is a good analog um let's see how it plays out in in europe it's slightly higher. But this creates still a very significant opportunity for us. On the bipolar and mania, I'll hand that to Eric, and maybe he can give some context of that. Yeah, thank you, Richard. And thank you Dave for the question. We have been thinking about bipolar and other things that we can do in life cycle management. So I think that with this launch we'll continue to double down on what we can doing in the future, but that's certainly one of the things we've been thinking about. As you know, we got the same indication for USETI before, and that was on a modeling and simulating basis. I think we'll probably be running a study if we do it for on-subpoena LAI, but certainly a good opportunity. Thanks, Eric. Thanks for the question, Dave. Next question. Our next question comes from Jason Gerbery of Bank of America. Your line's now open. Please go ahead. Hey, good morning, guys. Thanks for taking my questions. So for me, I'm just curious, you know, how the sales force is going to be prioritizing the two LAIs now, and will Zeti still get a lot of attention, you Know, now that there's this new shiny toy in the portfolio? So that's question one. And then my second question is just, What are you guys assuming for drop-off to patients who go on to olanzapine LAI due to elevated metabolic risks, which are just a risk associated with this API? How do you think about the drug and stay time? I don't know if there's learning you can take from like oral therapy, olanzipine versus other atypicals, you know, as weight and other metabolic parameters go in the wrong direction. I just wonder, is there a kind of a higher discontinuation rate for patients who start olanzapine versus other atypicals. Thanks. Hi, Jason. Thanks for the questions. I'll hand those to Chris and Eric. And starting, Chris, on the Salesforce prioritization, how did they, the shiny toy, what happens there? I love it. And it is a shiny toy for sure. But so is Uzetti, I got to say. We love both of these products, and I think they serve different needs. But in total, you know, as I said before, I think we can cover about 80% of the schizophrenia patients offering them an LAI that they otherwise wouldn't have had that option. And we have been meeting with the sales force. They're super prepared. They can do both of these really, really well. 80%of the docs that we call on today already will be targets for Welltruza. And so it's a really, really nice synergy. And as you probably can tell, I'm very excited about it, but our reps and management are too. They really have honed their craft and are doing an extraordinary job of understanding the patient flow and the office flow. They know all of these physicians, and I think that creates a really beautiful slipstream for us to step in and offer them a new alternative, all the while validating the patients that are appropriate for USETI and supporting them with both of these tremendous assets. So, we think we have a great advantage of having a lot of synergies in this space from a know-how and also from, you know, a physician certainty. Eric, I'll turn it over to you. Yes, thanks. Yeah, and the question was about, you know, the AE profile of, you know, oral olanzapine and the rate at which, you know, people drop off or manage that. Well, although that sounds like a bad thing, the great thing about Welltrusa is we're building upon a known foundation of Lanzapine. People know, physicians know how to use it. They know what to expect. They Know how to monitor their patients. Our side effect profile is identical to the oral. So we're adding an innovation and a benefit on top of what they already know. So that isn't going to be the biggest barrier. What the positive is, we're bringing them something that actually makes it more convenient to give the drug in a more efficient way so that we remove the problem of adherence. So I'm particularly excited by that 4% relapse rate. That's 96% of the people who are stable are staying on the drug because it's working. So that's how I think most physicians will approach it. Thank you, Eric. And thanks for the question, Jason. Next question. our next question comes from ash verma of ebs your line is now open please go ahead hey good morning this is d on behalf of ash and just congrats on the news um i have a couple on the uh the launch trajectory um can you give us some like uh i guess product analog that we can um uh look for for the like launch trajectory and then the second thing is um um you mentioned the uh oral like the oral conversion to our ai could be like 13 i just wonder like do you have a split between uh like patient split between like a conversion from oral versus uh from other ally agents and my last question is just on the gating fact like what are some of the gated factors for the launch uh given that um i guess the meaningful contribution won't come into like second half next year thank you yeah thanks for the question um so i think you know when it comes to the the launch trajectory i think um i think the way we'll uh to think about it is it's about getting um a few things in place first is about getting the coverage and so that's medicaid making sure you get the medicaid states on board and as i mentioned earlier you know that's a uh a slight rate limiting step because some will do it in day one and some will be in six months and some in 12 and some even in 80 and that's just the procedure they have you need medicaid uh for physicians to to start to use it in any volume so we'll do that we're going to do that, we know how to do that we did that with UCEDD. The other one is to get hospital formways because obviously you know many of these patients will end up in the hospital so once again we've done that with We know who the people are in the hospital formery committees, so we know where we need to go. The other is the physicians. And as Chris eloquently pointed out, our UCEDD Salesforce commercial teams call on 80% of these physicians all the time. So I think that gives us a good opportunity for a good trajectory. The trajectory should be thought about use of our samples, scripts, hospital formeries, how many physicians use it, What's the breadth of physicians? And then what is the depth of physicians so that's the reason why we talk about more trajectory in those ways versus revenue is because, as I've highlighted, that that really limiting step of payer access, which means that it's really the second half of next year that we'll see meaningful revenue come through. But you'll see all those leading indicators of volume of shift, you know, TRX and the factors and the use of the sampling, the factors which will be able to articulate why we believe this will be a very good launch. But obviously, that's something which we will be mentioning on all our quarterly earnings calls. The second, where do these come from? Is it all or is it LAIs? I think predominantly it'll come from orals because people on all olanzapine who compliance is key for them or in their physician's eyes or the patient's eyes will want to move across to WALTRUSA. So what we've seen on all others is that the patients who are on the molecule already, because the physician has chosen olanzipine for a reason, and I think Eric's highlighted it most of the time in the topic because of its efficacy. And so we see the majority of patients coming from oral olanzabine onto the LAI. Will some come from other LAIs? That's possible because maybe they were put on that because of compliance reasons. But think of it in that way. And then I think you said gating factors. And I think probably go back to the gating vectors are coverage, Medicaid, and hospital formaries. with those we've planned out and I hope you felt from Chris Fox's answer. The thoroughness of the preparation of this launch is excellent, but the thoroughness of this preparation through a team who are already in this market, I think just makes it even more impactful. So I hope those answer your questions. I don't think I missed anything. Apologies if I did. But next question. our next question comes from Uma Rafat of Evercore ISI your line is now open please go ahead hi guys thanks for taking my question and congrats on the approval I have uh three quick ones if I may perhaps first um for Eric Eric is there a post-marketing requirement and if you could also speak to the underlying tech because the label does get into the PDSS cases but it always is constantly keep saying it was on another extended release of Lansman. So could you just speak to your technology and the MedinCell platform as well? And then for you, Chris, and perhaps Richard as well, I noticed the pricing philosophy Teva used on Yuzeti was, A, it was not flat pricing, and B, the range across doses was anywhere from $2,000 to $7,000. On this one, it's flat pricing first of all, but also the price is kind of like in between at $37.50. And I understand And RELPREV is not a comp because that pricing is from 2010. But how should we think about that? And why is it flat pricing? And I mean, because you can ramp up to almost to 7,000. So I'm just trying to think out loud about this price point. Okay, thanks for the question. I'll start with Eric. We can talk about the post-marketing question and the medicinal technology, which I think you'll love to talk about. And now I'll hand over to Chris Fox. You can talk about the pricing that you've mentioned, Umar. Yeah. Yeah, thank you, Umara. Thanks for the question. And with regards to the post-marketing commitment, you know, there's no particular post-market commitment other than, you're monitoring for any suspected PDSS in the future, which is something we'd be doing anyways through our pharmacovigilance. So that's probably the only thing we'll be doing in the background, doing, you know, expedited events, reporting if that's coming up. But nothing particularly unusual about that. The second thing about the technology, you know, I think that, you know, in our discussions with FDA, they saw, you know, the value of what we were bringing to the table with this technology. Remember, it's a subcutaneous injection that rapidly aggregates under the skin. It was specifically designed to make sure that the safety profile was good. And in fact, some of that data, if you look deep into the label, is mentioned there. There is a mention of the fact that this other product, this injectable version of olanzapine, has a dissolution rate in 24 hours of 91%, while I believe the number for well-true is 7% over 12 hours in an in vitro assay. So that was actually fantastic data to have in the label. Surely point out what the value of the formulation is that, you know, theoretically brings to the patient. So, no significant post-marketing commitments, and the technology, you know, is highlighted in the label compared to another product out in the market. And with that, I'll pass it over to Chris. Thanks. Thanks, Umar, for the question. Very astute observations, and I would say that, you know. We really thought about this differently than Uzetti, and mainly because you said he can come in one or two months. So in thinking about Altruza, we still use the same principle of striking that right balance by having as broad of access as we can while value preservation. And we didn't want to unknowingly disincent someone from using the dose that they need because of pricing. And so this was the best way to go. We do, as you can appreciate, massive market research on this to try to get this right. And this reflects the innovation and also we'll ensure that we get the best adoption and access across the board thank you for the question thanks sorry thanks Chris thanks thanks for the question at this time we currently have no further questions so I'll hand it back to Richard Francis for any further remarks so thank you so thank you everybody for joining the call I do appreciate you giving us your time I'd just like to reiterate, we are very excited here at Teva as we continue to execute on our pivot to growth strategy, particularly on our drive to create a world-class biopharma company by launching innovative products on a regular basis. As you saw, we had five submissions in five years, and so we really have some momentum here. And what Chris and her team have done in commercializing these products, I think, should give people a lot of optimism as to what we can do with Welltrusa. And just to remind, many of the questions today have been around the huge unmet medical need that there is in schizophrenia, particularly for a long-acting olanzapine molecule, and particularly one with the product characteristics that Eric has clearly highlighted. So, you know, for me, somebody who's been in this industry a long time, and I know I speak on behalf of my colleagues, you now, it's a real privilege to bring something to the market that allows patients suffering from this very difficult condition to have an improved quality of life that they so desperately want and for physicians to help them treat those patients so very proud and i look forward to giving you an update of how we do with the launch at our various uh quarterly earnings but for me very excited thank you for your time and wish you all a good weekend this concludes today's conference call thank you all for joining you may now disconnect your lines