...A. Today, I can say that I'm pleased with our performance in 2024, though we believe our stock price is undervalued relative to the progress we are making. B. Looking back, we achieved or exceeded our goals for each of our strategic priorities for 2024. C. Pfizer was the number three biopharmaceutical company in oncology by revenue in the US as of the end of 2024. D. We refined our commercial model, creating Pfizer US Commercial and Pfizer International Commercial. E. Fourth, we demonstrated strong financial discipline and made progress toward expanding our margins and our cost realignment program, expected to deliver total net cost savings of approximately $4.5 billion by the end of 2025, most of which was achieved by year end 2024. F. We were strategic in deploying capital in 2024, returning $9.5 billion to shareholders via our quarterly dividend, investing nearly $11 billion in internal R&D, and paying down debt by approximately $7.8 billion. G. We expect 2025 to be a strong year of...
