So tell us, you know, what opportunity does Summit's drug ivonesimab bring to you, or unlock that wasn't already available to you with your current oncology pipeline?

Well, we believe the future of cancer care is about combining antibody drug conjugates to replace the, uh, all the chemotherapies.

Antibody drug conjugates are also called the smart, uh, chemotherapy, and you need to combine this with, uh, immuno-oncology products.

The first generation of those is, uh, made of PD-1 or PD-L1, and they're already in, uh, use today, and they have a big impact on cancer.

But there is a next generation of this IO that are IO bispecifics, immuno-oncology products that are bispecifics with two targets, PD-1 or PD-L1, and in that instance VGF.

Um, and so this kind of, uh, IO bispecifics is the next generation.

We have d- we have other types of bispecific IO agents, but this one in particular is very exciting because it can help address a certain number of tumor types that, uh, can be better treated, uh, in combination with antibody drug conjugates, better treated than with existing first generation PD-1 or PD-L1 agents.

And you're one of several drug makers racing to enter the obesity market, and so where does AstraZeneca have the greatest opportunity to differentiate in this crowded space? Or what unmet needs can you uniquely address with your pipeline in obesity?

Monthly injectable.

Monthly injectable instead of weekly.

We are working on mechanisms that will reduce the wei- the muscle loss.

When you lose weight, you lose fat and you lose muscle.

So we want to maximize w- the fat loss, minimize w- uh, muscle loss.

Now, going back to your question, at the ADA, we will present data, Phase IIb data with our oral GLP-1.

Um, and, uh, very exciting data.

Right.

So what kind of values, what kind of environment did you grow in actually?

Well, actually, my father lost his father.

So he basically grew up with his mother just post-war.

And for some reason, which I don't exactly know, he wanted to study and then join the French Navy.

But in the end, because he himself didn't have much money, he had to work.

So when he finished his studies, he studied.

He still studied and was able to finish his studies post-war and then joined the French administration.

Yes.

What made you decide not to do away with the UK listing? And what is your biggest gripe with the UK right now?

Well, there's no specific gripe with the UK.

It's really a question of Western wealthy countries investing in the health of their populations and investing in life sciences.

For now 20, 25 years...

Many countries in Europe, including the UK, have been shrinking the budget allocated to innovative pharmaceuticals.

It used to be 12%, 13%, 15% of health care costs.

Today it's down to 7%, 8%.

How's the business doing there? And how would you characterize your commitment to China as you do ramp up ties to the U.S.? And we know, of course, the relationship can be a little bit fragile between those two nations.

Where do you see the real growth coming in the next, I don't know, five to 10 years? It's

a great question, but it's almost all of the above.

I mean, of course, managing...

Check, check, check.

Managing what I would call central or abdominal fat, because everybody talks about obesity.

What really matters is how much fat do you have in your abdomen that surrounds your liver, your pancreas, your heart, and creates inflammation and insulin resistance and all the consequences we can think about, hypertension and all this.

So this is really a big epidemic globally, we need to address that, and that's what companies like Lilly and Novo are doing today, and we want to do this with all agents.

What do you want to accomplish before you end your tenure at Astra?