...A. Overview: Encouraged by the increasing worldwide vaccination rates, as well as the underlying environment in most of the major markets. 1. 2. COVID-19-related stocking in 1Q, followed by destocking in 2Q of last year, complicates quarterly performance comparisons. Looking at revenue growth in 1H21 better reflects the underlying trends in Co.'s business. a. 3. In 1H21, delivered 11% growth in core business. This excludes COVID-19 antibody revenue. a. b. This was buoyed by strong volume-driven growth across key brands and major geographies, including US, Europe and China. 4. 2Q21 revenue grew 23% vs. 2Q20, or 20% percent in constant currency. This performance was driven entirely by volume growth of 22 percentage points. a. 5. Saw a reversal of the $250m pandemic-related product stocking, which occurred in 1Q20. 6. Excluding COVID-19 antibody revenue, 2Q20 COVID-19-related destocking and the sale of Cialis in China, core business grew 12%, up from 7% in 1Q on the same basis. 7. Saw sequential...