...Okay. So good afternoon, everyone. It's Peter Verdult here from the Pharma team. Delighted to be hosting Bill Sibold. I don't think he needs an introduction, but just for completeness, Global Head of Specialty Pharma and the President of North America. Bill, great to have you with us. I thought -- I hope you don't mind, sort of the context of this call where we sort of characterized as the good. Luckily for you, you run most of those businesses. The bad, which is probably the pipeline developments; and the potentially ugly with regards to (inaudible). So that's the sort of theme of the talk for the next 40, 45 minutes. You may choose to disagree and feel free to tell me where I'm wrong. That's the way I'm going to address it. But perhaps before we do that, are there any high-level comments you want to make before we get into the details. And before we do that, the audience, this is me moderating, not monopolizing. (Operator Instructions) Bill, over to you. William J. Sibold ...
