Esperion Therapeutics (ESPR) 21 Feb 232022 Q4 Earnings call transcript

Ladies and gentlemen, thank you for standing by, and welcome. [Operator Instructions] Please be advised that today's conference call may be recorded.

I would now like to hand the conference over to Tiffany Aldrich, Associate Director, Corporate Communications at Esperion. Please go ahead, Tiffany.

Thank you. to and quarter company welcome XXXX full and results financial update morning, Esperion's and fourth year Good conference call. and Aldrich, at Tiffany I'm Corporate of I'm Communications Esperion. part here on the safe provisions remind the callers Act. I Litigation Private harbor today want under information of to discussed covered is the Securities that Reform the call caution management be will I making forward-looking listeners that statements. stated and Actual results to our risks uncertainties forward-looking with by could differ or materially statements implied from business. associated those the due

by to statements of obligation circumstances the after SEC that statements The reflect call We this are today's qualified release date conference forward-looking February content only broadcast, conference entirety the undertake press date their the of These to XX, and in update no or this cautionary in this webcast. XXXX. statements as events is accurate information of contained and filings. contains revise call or our time-sensitive of live forward-looking any

this call of recorded a today's As content and found are copy press We call. the issued at being archived. A and the can conference this detailing Media Investors within a be reminder, release morning www.esperion.com and section. webcast

comments begin for questions. the open We with your and call will prepared then

follow-up the speak to Following be today's at the questions. team Please team available team. schedule call, corporate for with e-mail to will esperion.com time

Chief Ben Swartz, today us BJ Financial Chief Halladay, Officer; Officer; Officer. JoAnne are Officer; Eric Medical and With Sheldon Chief Chief Koenig, Dr. President CEO; Foody, Warren, Commercial and Strategy

for prepared I'll the now remarks. Sheldon? to turn over some call Sheldon

morning, everyone. Thank and good you, Tiffany,

ability successful to proud I'm year made the we joining progress up for of to a as commitments on incredibly today XXXX. us we recent Esperion. our deliver in you Thank our team's review for wrap

guidance X. full our able providing on XX brief. as our and we be are year remarks We'll plans for financial And ACC positive March such, this to know, on results the important company. from visibility after provide presentation you only days will we today's XXXX Outcomes trial at keep CLEAR As from now detailed more

quarter We in U.S. a expenses generated XX% million XX% increase general $XX XXXX, U.S. administrative net XX% fourth came full fourth year-over-year grew to XXXX. lower in in sales versus product year-over-year. selling, revenue and while approximately in of XXXX, the million $XX.X year net quarter

We results believe strong commercial that we are significant have growth. expand that proud poised of and these and to a franchise infrastructure is deliver

reach support already expanded use to and We Care pipeline more our Summa with a world-renowned release management, the cycle Ben wins our reimbursement of Since top from help and have we CLEAR Kinetic as outreach Halladay advisory we results, welcome patients active formulary our life CFO. access experts the decision-makers have Healthcare line criteria. of and resulting Tufts, at significant comprised to appropriate positive payers and established additions their scientific had Recent in and formulary LDL-C board goal.

Internationally, our been NEXLIZET NEXLETOL for franchise partner, Daiichi Taiwan. and have and and Sankyo, has the submissions in Vietnam demonstrated robust made persistent regulatory growth

RFK to continued awareness build patients have Racing. with we partnering by Lastly, amongst brand

creating shareholder Outcomes payments to me regulatory our enable highlights. some appropriately our doctors This is global our of towards and advancing value. and of plan key let filings component Now the CLEAR long-term to through geared partners. includes amongst collect you patients awareness building milestone company our Every walk results from

acid. maximizing advancing positioning long-term bempedoic assets our are innovative by growth also company for the blockbuster for opportunity we Lastly, pipeline the and

the very of which reduction results cardiovascular XX will mentioned are I earlier, CLEAR acid. demonstrate benefits detailed landmark we be As excited Outcomes days, risk presenting our in bempedoic from to trial,

and and The a foundation lay practice-changing Nissen study from underway will trial our the for our top-tier our messaging will reach published sales focused campaign. approach blockbuster future creative selling commercial in These promotional are targeting, including the organization Plans as Dr. be transition journal. the and model, scaling medical from positioning, Outcome the ACC results discussed our potential. to by results late-breaking clinical the positive first CLEAR to at of simultaneously

significant significant XXXX. to in to look achievements We made in forward come and progress XXXX

on with the filings to track in FDA half the label submit an first XXXX. and in the appropriate expect and XXXX are half We updated regulatory first EMA of

We to also and garner prior engage continue authorization to access improve payers with broader patient criteria.

turn results. fourth our I'll year to financial And review now Ben XXXX and it full over quarter to

fourth year accelerating by we investor website. $XX which today, release our to our XXXX, financial net XXXX, still and used throughout million compared available containing quarter capital corporate am issued XXXX Earlier management the full is that I proud in priorities. our on results executing a demonstrated our we while the reducing cash strong press for and activities of operating

quarter with revenue line December XX, XXXX, up were fourth the was prescription the and Retail flat ended net XXXX, quarter year-over-year for fourth equivalents product for year-over-year. ended December U.S. our up the XX% million and million, in $XX for generally XX XX, $XX.X expectations. XX% months approximately

month to Daiichi partner, continues patients their XXXX. growth over Our European report in NILEMDO and November XX,XXX strong of the with NUSTENDI territories in Sankyo,

ended ended XX, XXX% $X.X up XX% sale investment XXXX, year-over-year. XX, for million Royalty totaled equivalents, XXXX, for available XX, compared million As cash, December December and million, securities cash of $XXX.X up months year-over-year for XX revenue $XXX.X December XX, million XXXX. $X.X December XXXX, restricted was and the fourth the on cash quarter

for increase Combined December months the XX, million XX fourth year-over-year. royalty year-over-year was quarter $XX.X the a December XX% partner and XXXX, and revenue decrease of XX, XX% decrease approximately ended our for for an a ended XXXX, $X.X XXXX, of XX, the The partially partners offset XX the revenue XXXX, collaboration from to of to under quarter by partners royalty due agreement. payment in product collaboration and increases supply sales months December second in ended onetime million our our was milestone

X% a XX, $XX.X to fourth ended was aforementioned months The $XX.X XX, XX was XX% of increase quarter an the XX the payment. for revenue decrease and due XX, onetime year-over-year. December total of December the for milestone for XXXX, year-over-year ended decrease Finally, XXXX, the million December months ended million, XXXX,

million of million, Turning an for increase and This fourth year-over-year. of XX% were year-over-year related XX, the XX increase XXXX, XX% increase R&D is costs. to expenses. CVOT ended ended expenses to for XX, $XXX.X months primarily December quarter the December an accelerated XXXX, $XX

for the XXXX, decreases ended implemented $XX.X SG&A for XXXX, December XX million success fourth a of in from XX, months XX% decrease million expenses reflect QX the the quarter $XXX.X XX, of for were decrease year-over-year. plan and XX% ended of December year-over-year savings XXXX. transformation long-term These a

XXXX at operational expense provide results our data detailed will ACC. We after guidance disclosing

Ben. Thank you,

from from to timely completion on we consistent the to growth we prudent we at that CLEAR cardiovascular serves do. continue to Throughout for with we risk proud commitments as improved transformational ensure disease. that would to we the what quarter-over-quarter patients greater catalyst management XXXX, have management we I'm for clinical for of Outcomes delivered access expense or data a Outcome of said study in the CLEAR will made XXXX millions did

you we and seeing at ready all you are Thank forward of today, ACC. now we look joining for for Operator, many to Q&A.

Needham. comes [Operator Instructions] question with Our Serge first from Belanger

Your line now is open.

good Hi, morning.

Serge. Hi

Sheldon. Hi, first one for

significant data since December been and I meaningful. set statistically is this consistent pretty think clinically that you've

of you you think before unveiling how of investment here, and the medical think changes? So clinically meaning the community the the of that meaningful do with do the days is what between data communities? the divergence XX full And

well her turn I'll and physician. a me and Hi it for then Foody start, to over let comments, JoAnne she's Serge, as

and significant I in out that and been meaningful. primary studies time. came industry in think our we was We clinically even this positive. for the report many several at was for the endpoint, saying we've statistically years, all all of secondary across endpoints. that study been they're some XX It seen I've we've out said

the as - to will that their an will something that Clinically research and believe of that's find treat means NEXLIZET. have lipid-lowering we market such these It's well and types patients. meaningful improvement to of way that as we'll meaningful prescribe and drugs - health they NEXLETOL meaningful physicians patients, that that demonstrate

do So the LDL changing cholesterol we we paradigm treating practice we very in differentiated. of drug used have the bad a or have that believe that's, also because term

that's LDL lower We that, also - we, lower essentially an we hsCRP. but and does And know that have. that competition also to only glucose. we something not Not have effect on the know our

So there's, and study even acid in about different of of in the itself. uniqueness bempedoic the things a lot

So is we going to JoAnne? again, very medicine. of something practice this that's that the feel, be meaningful in

and for you, Sheldon, the Serge you, thank question. Thank

I present thousands are thrilled think our culmination days. effort this. we work, the It's to absolutely data of just of putting into XX in and years

at results. that the a it's the when look what's community the looks single totality And hope the recognize medical would of do I investment I important not the at results, community they same would numbers. when It's is number. think to

need, It's and the importance the of question. unmet the it's importance the of

as meaningfulness and importance the it. maybe think frame me let So I about

journal. Cardiology Cardiology this a publication the clinical the meaningfulness speaks As American study. sessions late-breaking relevance off a and Sheldon College of mentioned, will of top-tier to of Congress That with the lead simultaneous World in

Another be point, in this hard in the not we're to That's did events ischemic in PCSKX both to secondary therapy NEXLETOL first prevention and the limited primary will population population, large bempedoic both decrease the NEXLIZET CLEAR patients. inhibitors and study compound acid, since that statins patients. LDL-lowering studied Outcomes. ASCVD and Remember

statin. be will in the cardiovascular to maximize first those this and outcome a point, be unable in study a to tolerate Another oral only studied or

equal numbers be only this addition, a men and of and women. LDL-lowering In to studied is the in with therapy population representative first

Finally, will I that XX these and the the as days after next about NEXLETOL you program, see CLEAR This clear results. think is Outcomes NEXLIZET the therapy totality how choices along position with of potential clinical both statin. meaningfulness CLEAR LDL-lowering will had the in of results, and the

comments JoAnne. that Eric to like Thank I'd have research And few we've the conducted. Eric. about a you, make

good your morning and thanks Thanks, for Yes. And Sheldon JoAnne. Serge questions.

looking prescribe unwillingness really current year, as and - quarter, quarter a potential market quantitative NEXLIZET. goal market the to non-prescribers as of both as And NEXLETOL CVOT early of first well well this assess share. of data, the So XXX the research conducted I at part project was first to as the clinician of in impact prescribers

as deemed MACE-X additional endpoints, the meaningful. clinically that the evaluated Confirming everything as said, JoAnne all endpoints key secondary or MACE-X primary secondary and well

think after NEXLIZET. to it's NEXLETOL exposed to being I clinicians would said XX% prescribe important and of that data, say that they these

and non-prescribers for prevention. primary would both secondary prescribe primary for secondary would the to-date prescribers increase significantly current utilization both patients said now and they and Interestingly, prevention

I'll So to back Sheldon. it turn

right next Thanks question. Eric,

Please standby question. for next

Thome Our Cowen. next question from Joseph with comes

Your is now line open.

measures questions. just familiar in good of C-reactive of these there, taking morning and for how control, of thank Maybe data on and we're to guess with see the Hi are the some glucose the prescribing reduction? physicians you my risk benefits? Obviously, I sort mentioned going other that you terms overall protein

and coverage on risk these then treatment some additional kind in reduction? point largely part driven your protein take overall C-reactive is glucose of education at it and to package of these account or benefits into will MACE-X and Thanks. payer by Will terms take guidelines. control the But also looking it out in

start with and do want it hsCRP JoAnne, in payer? address you education. hsCRP to to just relates I'll as

Excellent, for excellent you Joe, thank the you thank question.

citrate that ATP increase like glucose property. hsCRP not very statins and like believe actually differentiating. first acid bempedoic promote or inflammation. this is inflammation of lives the again new believe We inhibitor and we onset not But has reduces So is statins unique markers diabetes. And does

clinical I your the about community. think to point

Remember, of pleotrophic with really it benefits were respect potential data. really about statins idea statin, to followed outcomes to critical for who whether of those thinking be of statins, the the of you that effect

reduce have inhibitors inflammation. PCSKX that underperformed because argue could don't they one fact, In

And reduction of that point you the Monday or LDL you relationship and some all presentation I for would ACC, attending an to on science marker of attention of of meeting important to looks explore outcomes. those cholesterol inflammatory paying to the the

safety. opportunity, label these, have Joe, endpoints, primary relative as are to on may glucose information in with to the based including some far As but the respect general, labels pre-specified of

and So cover and interested expressed you in look the forward data, our label will clear aspect? want outcomes. based stay on tuned. The hearing regulators interest payer to are broadly we expanded to a quite do Sheldon,

affairs presentations Schwartz, and of the her as have the access you medical meeting up, really relates HOR up Joe, study, post that kind so payers, leads we of BJ the reset her will, with -- it JoAnne. these will market go folks our who be CLEAR thanks, presentation set already our we team to here. for - group. if Yes, Also, a

overall results. presentation be study only not a of the package So will

so it But also differentiating make potentially be this part to hsCRP, payers. how it's and could it difference just how, that presentation of a aspect will of

used where authorization team to Outcome As lowering. be edit, study remarks, and is actually in mentioned our the They've we from some in CLEAR the removed formulary process. for seen prepared been BJ anticipation the us. of already prior step her of a ezetimibe which This wins have hsCRP agnostic headwind

getting wins of the even So -- some presentation actual already data. we're before it's clear the

question meetings appointments And had discuss formulary far, many positioning post one get, We've one the so and how -- have? we study. last thing over there, to just do scheduled had both we've we XX CLEAR Outcome clinical

you. Thank

for next standby Please question.

next from Michael Jefferies. Our Yee question comes with

Your now line is open.

Hi, had think two definition just questions. important you points? And you in of milestones point practice Thanks remind maybe of do good that to was for so change? how milestone? have about do And the know the you what two? is, changing, do -- guys. the label that? you end the secondary question. weigh we how you that point I the In important you the And the importance important the for for morning, partner. is to of do primary wait to criteria that scenarios? us other the And words, European all much. end you're commented end believe about other versus We Can that from think for Thank the those primary the previously how One related you eligible

take JoAnne, first do want the question? to you

Mike, for thanks the Thanks, question.

in we endpoints. the secondary scenarios as about think right So the various primary the versus key

aware, for typically in recognize you're which MACE-X that So endpoints. is some biased coronary And hard MACE-X a of fact, by I ischemic utilized our think the of MACE-X revascularization, MACE-X well folks to is as a EMA predominantly that the important as composite component is endpoint think what's the has endpoint primary MACE-X. been more purpose. might includes

And ways about are the those so again, those. I think folks think

the So the but the that, also the X, ratio, or reduction. risk other important absolute about The within also just hazard aspect, is right? that's not think population, only Mike, absolute but in a to reduction not then MACE-X risk given

robustness studies, of are see at several results you'll key cardiovascular is -- includes that ACC, a of all outcome there we go hierarchy the With as And endpoints through. endpoints. secondary these

about and results we So of those the of in again it totality numbers. the interpretation think the all

you to Ben, the do to speak milestones? want

Yes.

milestones. So to turning

and endpoints on of the the cardiovascular Sankyo a upon $XXX sale -- is inclusion from just million criteria are of we As in those reduction due percentage. with Reminder $XXX milestones that's magnitude from European with for of that -- scale Daiichi the dependent the reminder, label, million, to the

will an So will those will that be event, XXXX the we early think release. -- we press think disclose first exact amount receive half of we and as we in our ACC

Super it. helpful. Got Thanks guys.

Please standby next our for question.

from comes question next Our with Butler JMP Securities. Jason

open. is line Your now

guess increasing data happening Hi, thanks new since follow-up to to Have outcome either active? the or comments use a question. seen you for any guys was market Thanks. of taking announced, on the in date prescribers the broadening changes research. their line current Eric's the somewhat practice before are I becoming this presented, prescribers prescriber is top or

and that's close that one eye on, Jason, NBRx. a we mention key keep I'll metric,

And So we've a this release significant since data increase seen of far yes, first that's in new the NBRx. quarter, to that brand so pretty prescriptions.

Great.

seeing forward data. the to Looking

for weekend, Jason, lot the the we had just led card, entire almost one anyone fun card, watching. [indiscernible] the and past the fact next sponsored rate. XXX number X We this which

cetera. of But Our is, asking seen fun relates just cetera, raise. exposure was times a pickup the that wondering that with what million activity, like people fact to watching et product people it this on that ever and before, website we've expat et XXX a X weekend lot as for

standby question. for Please next our

Morgan comes from Jeff Stanley. question with next Our Hung

line open. is Your now

educational questions. spending in sales? are on CLEAR SG&A my increase up Outcomes and data the to Do to need or expected that you year, meet back with from hand, I ramp that about on Last how additional you to demand taking for thinking you expenses. Thanks positive back cut guess patients physicians offers? for

Maybe I'll Yes. over and can turn Ben. start, I to it

XX study would right for with of somewhere We that XXX for point a an before. this inflection now said obviously XX, out have there now actually only the than would first XX had these be that selling organization more a point out who couple the us -- that have -- XX, between all, and CLEAR times representatives be pivotal I of products we we've have and there, the we today, ending are

we see said But in later and we expanding a force XXXX in with be from sales that of comments? our moving anticipation do any that forward, will Ben, perspective. XXXX our additional label

Yes.

our presentation release. So ACC we'll out put of part again press full as guidance and

that And activities the like looking a outcomes to lot off patient have we a of kind year. remind later at, the think including I also XX,XXX in trial of everyone will on books. coming I'd SG&A we're that the come

when healthy changing don't see total company spend, rate, at I next that and significantly year. very look So a you we're think at I

on We have doing managing last been cash that into we very plan this year. our year, and meaningfully next continuing

too don't in the increase I changing So really significantly an SG&A. see that even with

Please standby next our for question.

question comes Tom Our BTIG. from Shrader with next

is line now Your open.

mentioned I your to is, you're people do signs? you than my for look where started are for know going other or early care do reaction, you. us know in question And do about waiting that what generalist? you have you Thank drug? do scaling What the now How guess you reaction? of a You the sales. are these to NBRx, particularly a

you want take Eric, to do that?

absolutely. Yes, Tom Good yes, morning, for thanks question. your

midst the segmentation of and in really that's we're us. important now, right So a process, for

towards for post we're profile the to potential product ultimately, profile in And changes That doing receptivity interest their potential the in be what CVOT we've profile. we'll target TPP, to is current and brands. what that HCPs been prescribing. our then exposing our So gauges a making

receptivities tipping determine will. reach if and the where We'll the right we you quantity kind the math aggregate of point, We'll that upon do. HCPs that, profile right that all, future we to that based

a start will yield doing ultimately that's plans size. place in what And we're then So putting size. that realize the to we'll that

label advance go. we've field in So to the got the of in folks ready change, the

give of it - a experience is how that you gives always will sense physicians everything love sense these you translate. What Okay. you us that predictive doesn't but Can beforehand, are? My conversations a translate?

We pretty that those are other look shares at - markers utilize, consistent. and they

So forward. we're helpful, Tom, upon very the putting based profiles I feel

thank you. Okay,

our for Please standby next question.

comes with Our Jessica Fye question from JPMorgan. next

now Your line open. is

taking Great, me. guys. the for Thanks question, good two morning from

next thoughts NEXLETOL? competitive funding about for you leg your on you're thinking as you talk growth relates Merck's second, runway you're and LDL-lowering latest share can non-statin the as therapies, can PCSKX? us PCSKX the thinking to of such you. the where First, you you how can how cash it own with Thank landscape about about And oral oral efforts? remind And your are

Yes. to if the will and go comments trifecta ahead, it. landscape, make want to Ben, Ben. a I'll will - This be around can competitive Go this then a some speak you and be still answer. in first also JoAnne

Jess. thanks Yes

as that number. far how have cash with I runway, think cash happy and time-and-time we've as again, very burn our into So said rate a manageable managed we're I gotten

we it and a something are open. to do presents I bring approaching company. very that say catalyst is looking into we're think with. for to say what the And approach we're large capital opportunity looks ACC, what would that as we us optionality I I like, will

plan any not We this in point. have locked at

if something payments us that we that we do would I those to we did are through we looking to nothing, would but cash bridge have mentioned enough to earlier. last milestone think us XXXX, even

thanks, Ben. Great,

PCSKX. away. at. a always couple to Amsterdam. something the Obviously is there's, we're years a drugs New In these a is Jess, evacetrapib, are Merck looking of which inhibitor the There's from out essentially There competitive nutshell, there. or seven CETP products five Regarding landscape,

Our is available now. product

be see like Outcome available have happens XX drugs that's in with We study We'll what days. evacetrapib. to an going

to I a the had had my inhibitor evacetrapib fruition as Merck came evacetrapib was If never fruition. you at, off-target us for Merck aldosterone at non-flushing we effect to this were a came and XXth non-flushing at then to an hour, niacin even the the first that I look and remember they effects also amazing against niacin drug it and compete evacetrapib. time if And at the the CETP were looking is goodness, never that we

desirable. here an a It's PCSKX PCSKX So reason from you I acid, we're next because - prescribing an to not to companies the say in operating And and to go They're to there's oral use now. an injectable want NEXLIZET. and will a bempedoic in of again, be statin. patients what's want don't speak therapy - injectable. just heard that's benefit JoAnne going NEXLETOL after about why

that of it. JoAnne, if So go. or we I these really about - there. a products with. against a out long business have right They they a longer the seen out remains much your working way worry there. There's what to are it can That's products lot make have And thoughts? competing to now are they other be

the Thank Yes, vision Jess, your a much and we thank think Obviously, much question. competitive you, with pathway Outcomes I now Sheldon. data, really treatment you, from in for perspective. earlier positioned better

we ahead, about I we Merck's think that think development road mentioned, long whether look Sheldon PCSKX a there PCSKX is oral oral at I when programs. the CETP, program And what's think right? important, as or

think underperformed it to with to that the the underperformed. respect fact scientifically They've speaks really pathway. PCSKXs really injectable have I

suggested think inflammation. don't that's they may I some because have that affect

good to the - Merck. study at LDL patients have lowering. look and are The But we'll in see respect Xb results forward and quite so, so far to dose with risk. their I to will finding ACC, impressive present results And Phase with they at

have But again, already we outcomes.

hill climbed that a there. get to we with And believe of very drugs have advantage arduous profile hard today. we the have long our We competitive

We oral not Merck's a allosteric that only better small to presumably in on much with is is peptide cause. our a PCSKX inhibition have molecule based contrast inhibitor

one space this oral in or issues right, the of main But with that that whether fits. cause, been we has also injectable how PCSKXs, the recognize being and

result. look now and aware, program, right should which So, we're our that inform development forward we And Merck's to is pre-IND. well

Great, thank you.

Please standby for our next question.

with Frommer Credit Suisse. next from question comes Judah Our

now Your line is open.

Hi thanks for good taking guys, the question. morning

aware that curious if data? a there they're the for bempedoic Is mentioned, there the on the Does on dynamic lack they're follow-up LDL of of waiting but of on couple a like seem reimbursement doc survey change? Is waiting just lowering, it that a could they're it Outcomes acid? surveyed. awareness Eric Just potentially

And have prescription you indicated patients statin-intolerant of they paradigm? in they would they up Are move any bempedoic or there? then for max detail patients Thank have you. secondarily, other statin, acid potentially types their what tolerated

Yes, thanks thanks Judah, question. for the

expose So there's awareness is like but that upon you lower still for than them to our our current profile and just to In really But seeing impact. we or we being be, favorable exposed did to ignite change. did back, obviously, our as reason this a efforts. will, profile good CVOT did create data would promotional research, some the mentioned, significant scale based if

as where the at had research. in established unique next really positioning primary this secondary disease. where, patients, were statins cardiovascular prevention that risk is or next, to likely upon across upon and land far we've And that treatment which after as seen trial, based JoAnne based and mentioned is distinct is really again, included As what so the consistent and this

Thank you.

standby for question. Please next our

Choi Goldman Paul from comes question next with Sachs. Our

line now open. is Your

Hi, good morning questions. and thank you taking our for

have We two.

first and for be about be and presenting ACC. specific label that thinking inclusion subpopulations? JoAnne the whatever to claims included the how the population you're comment regard Can for of in subgroup analyses, on potential at maybe these diabetics presentation that Sheldon and and the U.S. might of you shape with Europe The is you'll whether or potentially any

Sankyo, of much. label MAA next and and partner, starting maybe filing? the to intensity about European how Daiichi they're Thank very of added is And efforts promotional indicated after increasing is, bandwidth has year question the sort your you thinking CV my resourcing second

Paul. hey and the Yes, Choi, about Paul for it's Paul operator, that, sorry

No problem.

it a JoAnne turn over question first. the for Let to me second,

of the the question the of they just have also asked JPMorgan, and of I Sankyo Daiichi they the wanted are to partners, So data. state yet, have Europe time first, kind seen seen at partners, our we data our

know the data it to the in they're launch. expand work is. as they're continue file And them their countries and different relates do that they So going and what doing, to so to

They quite they latest over in of me, - the be co-promote that They've launched are country they some the know in markets XXX essentially had SAVAYSA, which been We have is a people with which And DOAC, in well over is the is Spain, Taiwan, like on. Germany. will in edoxaban, actually already there. also which launched that team, drug market-leading they an in a doing called also a already large Vietnam. excuse DOAC

overlap they them. really cover of the call they We it a target point So really right their launch, have to a time has committed audience to be with them success. are with work high They're we successful. product. making which helped committed at But this to

- joint And a upon which that go commercialization have to one well. We team as there ready the staff label is a they big have, is change.

JoAnne, submission speak We we're do them. want of label you but the presentation with course, for coordinated do them, to to the at ACC?

question. Yes. Sure, for Sheldon. the you, Paul, Thank

really, the results that, and is focus our the XX on it endpoints. secondary key totality of will And minutes. the of predominantly presentation across So only ACC because primary at

that Just know and almost will publications amounting to next up that that we the eight address have of multiple year sub-analyses. over or these presentations presentations course of will planned the coming some be nine

regulators our with top line. and chatting to ACC sharing the forward prior look we Also, to

have both and publication to the simultaneous And I in think a So respect the label CLEAR you population interested a in. to primary subgroups, Outcomes - some more of for we'll in in that secondary prevention. we potential information in studied you're mentioned But across the share will subsequent was months for again, we expanded with we the in as the in are general, label. broadly Paul, looking

you. Thank

are At today's this call. there Thank disconnect. you concludes time, This further you questions. conference now no for may participating,