In the second quarter earnings call, the company lowered its guidance for 2023 revenue on market factors relating to Revlimid and Polymast but indicated the impact was temporary and limited to 2023. In the third quarter, the company indicated its expectations for a modestly slower revenue growth trajectory over the next few years from newly launched products than prior expectations. The company also lowered the floor for operating margins to 37% though 2025 from 40%, (compared with an operating margin of 41% in 2022) as the portfolio transitions toward newer products, including the potential for an increase in investments to accelerate growth. We now expect negligible revenue growth and moderate erosion of EBITDA margins over the next four years (2023-2026),
