Hello, good evening, and good morning. I'm James Gordon, J.P. Morgan Pharma and Biotech Analyst, and today at the J.P. Morgan Conference, I have the pleasure of introducing the Takeda presentation and hosting the Q&A. So we have Takeda President and CEO, Christophe Weber, joining us for this 20-minute presentation, and then we're going to have other members of Takeda management joining us for the Q&A afterwards. And I'm looking forward to the presentation a lot, so over to you, Christophe. Thank you, James. Hello, everyone. Thank you all for joining us today. Many of us were looking forward to gathering in San Francisco for the annual conference, and yet COVID-19 continues to put the world on notice as we still have a long road ahead of us. The latest development in this devastating pandemic continues to remind us of the importance of our work for patients and society, but I am optimistic that the coming months offer hope and an opportunity to build on the lessons learned. Before starting, I'd like to remind everyone that we will be discussing forward-looking statements, and actual results may differ materially from those discussed today. Please refer to the important notice on page two of the presentation for more details. Moving to slide three, I am pleased to share the great progress we have made through our business transformation and our ambitious plan for the future. At Takeda, our vision is to discover and deliver life-transforming treatments guided by our commitment to patients, our people, and the planet. Takeda's growth strategy reflects that vision. This purpose-led and value-based approach drives all our action and decision, and as we look to the future, I see significant potential in data and digital. Technology will revolutionize our business and create better experiences and outcomes for patients, accelerate the discovery, development, and delivery of life-transforming treatments, and it will transform the way we work. Our goal is to continue to grow Takeda into the most trusted, science-driven, data-enabled biopharmaceutical company. Our business transformation, accelerated through the acquisition of Shire, has provided us with a runway to scale our ambition. As you'll see on the next slide, on slide four, we remain headquartered in Japan and maintain a global hub in Boston. We have a presence in 80 countries and regions, 31 manufacturing sites globally, and three research centers in Japan and the United States. In the last fiscal year, we had annual revenue of approximately $29 billion US dollars, with a regional breakdown of sales broadly in line with the industry average. Our key business areas of GI, rare disease, plasma-derived therapies, oncology, and neuroscience represent a balance and diverse portfolio, making an important contribution to the top line. Our global scale helps us drive a strong portfolio of 14 global brands to generate steady organic top-line performance while also driving competitive margins and strong cash flow to fuel future innovation. Recent product launches such as Exkivity and Livtencity inject even more momentum, adding to the potential of our growing global portfolio. One of our top priorities has been to develop our pipeline. We have an exciting and diverse pipeline with approximately 40 new molecules, with the potential to address significant unmet needs. As an R&D-driven company with a high bar for innovation, we know that not every program will succeed. However, the depth of our pipeline gives us confidence that our R&D engine will continue to produce novel medicine at a level that will help support the long-term growth of the company. Having gained regulatory approval and launched two new products in the last month of 2021, we are even more confident today that the strength of our commercial execution, combined with the potential of our pipeline, will help to fuel our long-term revenue growth. Throughout our global business transformation, including the integration of Shire, Takeda has delivered against its financial commitment. As you will see on slide five, this includes top-line acceleration, with underlying revenue growth expected to be in the mid-single-digit this fiscal year, driven by our 14 global brands, as well as new product launches. In addition to growing the top line, Takeda continues to focus on delivering a competitive underlying core operating profit margin. Our strong margin will continue to drive abundant cash flow, which allows us to invest in our growth drivers while also paying down debt toward our target of 2x net debt to adjusted EBITDA by the end of fiscal year 2023. Finally, we have a well-established dividend policy and recently announced our first share buyback in 13 years, underscoring our confidence in our business strategy and commitment to delivering value to shareholders. Moving to the next slide, I'd like to focus on how our 14 global brands are expected to continue to drive our growth expectation over the medium term. This brand generated a total of $11 billion in the last fiscal year and are on track to meet our underlying revenue growth forecast of 14%-16% for fiscal year 2021. What does it mean? It means that the potential for annual incremental revenue is approximately $1.5 billion with these 14 global brands, and we expect this momentum to continue into the medium term. We expect continued growth momentum through increased market penetration, where we have already launched this product, and geographic expansion in Japan and emerging markets, particularly in China. I would like to briefly highlight some of our 14 global brands. Takhzyro is a flagship medicine in our hereditary angioedema portfolio and is a market leader for prophylaxis therapy in the U.S. due to its unparalleled efficacy profile. We are expanding Takhzyro with a recent approval in China, and an approval decision in Japan is expected soon. Our immunoglobulin, or IG, portfolio, including IVIG, Gammagard Liquid, and subcutaneous formulation Cuvitru and HyQvia, offers patients a broad and differentiated range of therapies for a variety of immunological diseases. This product generated revenue of $3 billion last fiscal year, and we expect them to be significant growth drivers for Takeda over the long term. Finally, our biggest product, Entyvio, with global revenue of almost $4 billion last fiscal year, is constantly delivering double-digit growth globally. We continue to capture patient share in inflammatory bowel disease, supported by Entyvio's efficacy and safety profile, including head-to-head superiority versus adalimumab. I now would like to take some time to walk you through how we are thinking about the timeline for potential biosimilar entry for Entyvio, as outlined here on slide seven, as we believe that there is more potential upside versus our previous base case. Until now, the base case we have been using regarding biosimilar entry timing has been the most conservative scenario, coinciding with the expiration of Entyvio data exclusivity, which occurs at the earliest in May 2024 in Europe and May 2026 in the U.S. When we look at the analyst consensus for Entyvio sales erosion, this also appears to be the assumption that most, but not all, analysts have taken. However, being now in 2022, two to four years only before data exclusivity expiry, we now believe that our previous scenarios for biosimilar entry should be revisited. First, at this point in 2022, we are not aware of Entyvio biosimilars in clinical development. Our best estimate is that it will take at least four-to-five years for a biosimilar to go through all the clinical studies, generate the relevant data, and undergo regulatory review for approval. We believe that any biosimilar entering the clinic now will be unlikely to complete the clinical development timeline before the end of the data exclusivity period. Then, from an intellectual property perspective, as we have mentioned previously, Takeda has obtained a patent that covers various aspects of Entyvio, including formulation, dosing regimen, and process for manufacturing, which are expected to expire in 2032 in the U.S. Any biosimilars that seek to launch prior to 2032 will need to address potential infringement and/or the validity of all relevant patents. Also, as a reminder, Entyvio is only indicated in ulcerative colitis and Crohn's disease, so any biosimilar will need to conduct studies in at least one of these disease areas. This is unlike biosimilars for anti-TNF, for example, which are approved in a broader range of indications and therefore give biosimilar various potential entry points. For all these reasons, we believe that it is highly unlikely that we will see biosimilar launch in the U.S. or Europe upon expiration of data exclusivity. Now, moving to the next slide, let's take a look at the new product launches and what this means for our top line over the next five years. The recent approvals of both Exkivity and Livtencity have demonstrated that we have a portfolio of new products coming to market that are well-positioned to drive additional growth. Exkivity is the first and only approved oral therapy for adult patients with locally advanced or metastatic non-small cell lung cancer with EGFR exon 20 insertion mutation for patients whose disease has progressed on or after platinum-based chemotherapy. This disease has historically been underdiagnosed, and patients have until recently very limited effective treatment options. The approval of Exkivity advances the treatment landscape and, for the first time, affords patients the option of an effective oral therapy. Similarly, Livtencity is transforming the way cytomegalovirus infection is treated. It is the first and only treatment indicated for adult transplant recipients with refractory cytomegalovirus infection and disease with or without resistance. Exkivity and Livtencity address the distinct and meaningful patient needs and are just two examples of how Takeda approaches scientific development. This is a blueprint for our pipeline strategy. We set a high bar for innovation to bring forward truly transformative treatments for patients who have significant unmet needs. As for the strong growth of our global brand, we believe there is a potential for significant incremental revenue growth out to fiscal year 2025, as outlined on slide nine. With the 14 global brands and new launches such as Exkivity and Livtencity expected to deliver approximately $9 billion of incremental revenue, double what we expect to lose from loss of exclusivity of Vyvanse, Velcade, and Azilva, and the decline of other inline products such as our hemophilia franchise. We believe that the market underestimates our ability to grow through some of our long-term headwinds, but I want to emphasize that Takeda is well-positioned to deliver top-line growth in the next five years, with even more confidence now that we do not expect Entyvio biosimilar launches during this time frame. In addition to top-line, we'll continue to focus on our margins and strive to deliver underlying core operating profit margin in the low- to mid-30s range. In the previous slide, we laid out our growth expectation until fiscal year 2025, but I truly believe that Takeda is well-positioned to continue delivering growth beyond fiscal year 2025 and well into the next decade. Looking now at slide 10, it is important to recognize the continued growth potential of our existing portfolio. For example, our IG franchise and Takhzyro, which we expect to grow steadily over the next 10 years, more than offsetting the major U.S. losses of exclusivity in the last half of this decade, namely Trintellix in 2026 and Ninlaro in 2029. On top of that, we expect the decline of our hemophilia portfolio will level off mid-decade, and as discussed, we are updating our base case for Entyvio. But of course, we cannot depend upon Entyvio alone to support the company over the long term. As I mentioned previously, we have built a deep and highly innovative pipeline through our R&D transformation with approximately 40 new molecular entities in clinical stage, several of which have sales potential over $1 billion. We have multiple exciting opportunities and critical proof of concept and pivotal studies data over the coming quarters. We have built a patient-centric and science-first R&D engine to continue discovering and developing new medicines to meet unmet needs, and we'll continue to actively enrich the pipeline through partnership and targeted bolt-on acquisition that align with our core therapy areas. As you'll see on the next slide, our global R&D strategy is working and remains unchanged. We continue to advance highly innovative, life-transforming medicine in our core therapeutic areas of oncology, rare genetic and hematology disease, neuroscience, and gastroenterology, with strategic R&D investment in plasma-derived therapies and vaccines. Our robust partnership model is a key driver of our success. Our world-class internal labs are partnered to access cutting-edge science wherever it originates. For example, just today, we announced the acquisition of Adaptate Biotherapeutics, adding a novel antibody-based gamma delta T cell engager platform to Takeda's immuno-oncology portfolio. This is the third oncology build-to-buy acquisition we announced in less than a year, following our recent acquisition to acquire GammaDelta Therapeutics, further accelerating the development of innovative gamma delta T cell-based therapy, and our acquisition of Maverick Therapeutics, which brought the novel T cell engager COBRA platform to Takeda. One third of our late-stage pipeline has received breakthrough therapy designation, a true testament to our innovation and focus on developing transformational therapies where there is significant unmet need, and approximately 50% of the pipeline has an orphan drug designation or orphan potential in at least one indication. Takeda continues to make significant investment to grow our expertise and capabilities in cell therapy, gene therapy, and data science. As you can see on the next slide, we are building one of the most modality-diverse pipelines in the industry. We see incredible opportunity to revolutionize treatment within our core therapeutic areas by selecting the best modality for the right target or indication leading to potential transformative gains. While we are evolving to gain a leadership position on cell and gene therapy, we are moving forward our small molecule and biologics programs with a high bar and more novel targeted categories in the area of unmet need. This was only possible due to a total redesign of our R&D organization in the last few years. This allows us to create a highly differentiated pipeline that will position Takeda for sustained growth for many years to come. Looking at Slide 13, as I said, our R&D strategy is delivering, and our pipeline is beginning to deliver on our ambitious aspiration. I mentioned earlier the recent FDA approval of Exkivity and Livtencity. 90% of our pipeline didn't exist six years ago. Takeda R&D engine is advancing an ambitious stream of next-generation therapies. These programs are focused on providing transformative treatment for targeted population with high unmet needs across our therapeutic areas. Let me highlight a handful of programs we are particularly excited about. First, our dengue vaccine, TAK-003, which is currently under review with various dengue endemic countries and with the European authorities, where we anticipate a decision in fiscal year 2022. Dengue was named by the World Health Organization in 2019 as one of the top 10 threats to global public health. Another program, TAK-755, is the first and only ADAMTS13 replacement therapy in clinical development to address cTTP and iTTP, life-threatening thrombotic disorder caused by ADAMTS13 deficiency. We expect a phase III data readout for cTTP and could begin a pivotal study for iTTP in 2022. We have recently presented exciting early data at ASH for modakafusp alfa in heavily refractory multiple myeloma patients. Subasumstat is a first-in-class mechanism being examined in multiple tumor types, and we expect proof of concept data in 2022. After the oncology programs, I will highlight also TAK-999, our collaboration with Arrowhead in alpha-1 antitrypsin deficiency liver disease, which should be starting a pivotal study within the coming years. At the same time, we received a Complete Response Letter from the FDA in response to the new drug application for TAK-721 for the treatment of esophagitis at the end of last year. We are assessing the detail of the CRL. Going forward, we see great potential to further enrich our pipeline and are excited by the potential of our robust partnership network. We will continue to access and nurture innovation by integrating collaboration in emerging areas of science with our own world-class laboratory to deliver sustainable innovation. On the next slide, on slide 14, we are illustrating the tremendous commercial potential of our pipeline in the medium term. With 10 of our programs in phase III or pivotal stage, having an aggregate peak potential sales of more than $10 billion on a risk-adjusted basis is more than $5 billion. So, $10 billion on a non-PTS adjusted, $5 billion or plus on a PTS adjusted basis. On this, Exkivity and Livtencity have already been approved in the U.S., with further geographic expansion to come. Another asset with potential approval this fiscal year is TAK-019, the Novavax COVID-19 vaccine candidate that Takeda will manufacture and distribute in Japan, subject to license and approval. In fiscal year 2022, we anticipate first approval for TAK-003, our dengue vaccine candidate. Moving up the list, TAK-755 and subasumstat could obtain their first approval in 2023, with TAK-611 following in fiscal year 2024. Finally, three of our Wave 2 programs are starting their phase III or pivotal trial this year or next year, and we can expect potential approval path in fiscal year 2025 and beyond. There is more to come as we continue to de-risk several of our earlier stage programs. I'd like to highlight on slide 15 five high-potential molecules that will have important proof of concept readout in the coming two years, including our longer-lasting oral orexin agonist, TAK-861, and first-in-class cancer therapy, subasumstat. These are just the first of many Wave 2 molecules of a rich and transformative early-stage pipeline being continuously filled through partnership and our own powerful research engine. I want to underscore on this slide the importance of having built an innovative R&D engine that will continue to generate new opportunities going forward. A year ago here at J.P. Morgan, I presented a slide showing a Wave 1 pipeline with $10 billion of potential peak sales. Our pipeline is dynamic in nature, and we follow the science. Some of our programs have faced unexpected challenges, but we are encouraged by stronger early data in programs like modakafusp alfa, and we have in-licensed TAK-999 and pabinafusp alfa to help boost the mid-stage pipeline. I can say with a high level of confidence that as we turn over new cards with each new data readout, the value of our pivotal stage pipeline will continue to increase. Don't forget our orexin franchise, of course. While we are not including TAK-994 in this calculation, we still have multiple therapies in development, and if TAK-861, TAK-925, or other programs come through development, we still see significant commercial potential. We expect to update the market on our plan for this franchise later this year. Finally, to close out, on slide 16, our transformation continues to bring Takeda's future into focus and will help to deliver tangible, sustainable growth. In 2014, we set out on a journey to accelerate our globalization and to reinvent Takeda into a truly values-based, R&D-driven global company positioned for long-term business growth. We have proven that we can deliver on these promises. The Shire acquisition provided competitive scale. Having completed the integration very successfully, we are now in position to deliver sustainable top-line growth, maintain competitive margin, and generate strong cash flow into the long term. I attribute much of our success to our amazing colleagues. I am proud of the 50,000 dedicated and patient-focused colleagues that embody our values and work tirelessly to support our mission, and they will help us build a dynamic future. Looking ahead, our growth strategy is on track. As I mentioned earlier, the growth of our 14 global brands is expected to more than offset loss of exclusivity headwinds to 2025, with further growth expected beyond. These factors reinforce our target to deliver underlying core operating profit margin in the low-to-mid 30s range. In addition, our innovative pipeline is expected to deliver accelerating contribution to the top line through the decade. We feel extremely confident about the path we are on. We are taking on big challenges that require a new way of thinking, especially by leveraging data and technology. We are focused on building a diverse and highly innovative pipeline that will ensure that we will continue to grow into the future, and this brings us back to the vision that drives us to discover and deliver life-transforming treatments guided by our commitment to patients, our people, and the planet. Thank you very much. Thank you very much, Christophe. Thanks for the presentation, and we'll now go to the Q&A part. I believe we're going to be joined by some other members of Takeda management as well. Does anyone else need to unmute themselves or anything else, or would you, Christophe, if you'd like to do this, but just with you? I think everyone can unmute, and then depending on the question. Hopefully, everyone else in management can hear me as well. Maybe just the first question I saw new on the slides was the commentary around Entyvio and how long you think you're going to have without facing competition for Entyvio. So I guess two questions on that. One would be, why do you think no other company has pursued a biosimilar yet? Is it just the strong patent protection, or do you think the product would actually be challenging to copy, and that could also be a deterrent? That's a great question. I don't know exactly. We should ask a biosimilar company. What is very clear is that developing a biosimilar in the IBD field is not easy. Clinical trials are difficult to do. Of course, we have our patent as well. Our IP is there. So yeah, we should ask this question, but we were monitoring the market, and we always knew that sooner or later, if biosimilar were to be launched, they should start clinical development. And now we are in 2022. We still see no biosimilar in conducting clinical trials, so we cannot anymore keep this assumption of 2024 and 2026. That's the only fact that we have in our hand. That makes sense. And if you've got longer without facing competition, does that change where your expectations are for peak sales for Entyvio? If you've not got competition, more time to grow. And actually, with such a long runway, might you even do some more studies yourself, sort of life cycle extension for the product? It does change the peak sales, so we are not updating the peak sales today, but we will have to in the future for sure because it does change the time you have to peak, and we do continue to develop the product. We just got approval for a new indication, pouchitis, for example. We will launch a subcutaneous formulation in the U.S. as well in the future, so we have never stopped continuing the development of the product. Thank you. Maybe another question if we had a pipeline one, so you touched on the Orexin franchise. 861, it says it's a data in 2022 as per slide 15. So what data will we actually see, and what's the current level of confidence that this product will have a different side effect or tolerability profile? Andy, can you take that? Sure, so James, hi. Andy Plump, I'm the head of R&D. So right now, we're in the process of analyzing the phase II data from TAK-994, which was the lead molecule. We've been actively and rapidly developing TAK-861 as a backup program, backup molecule, even before we started to see some of the liver toxicity with TAK-994. So they're distinct molecules. We know from our first in human and early phase I data that TAK-861 has a very different PK profile. It's a more potent molecule, and so we expect a much lower dose. And we know historically that liver toxicity has been highly dose-related. So we're rapidly moving 861 forward. We hope to have data both in sleep-deprived healthy volunteers and in type 1 narcolepsy patients in 2022. And then that combined with our deepening understanding of TAK-994 will allow us to make decisions on a path forward. Thank you. Assuming you did take the product forward, what sort of timelines could it be that this product could theoretically come to market? Well, I think it's a bit premature to start predicting timelines. I think given the toxicities that we saw with TAK-994, interactions with the agencies are going to be very important in defining what those timelines look like. I will say that TAK-861 just factually was brought into the clinic. Its first in human date was about 18 months behind TAK-994. So that gives you just some rough estimate of where it is relative to TAK-994 in development. Thank you. Maybe one other question would be more generally on the pipeline and the amount of pipeline you have and the strategy in terms of buybacks. As laid out, there is quite a lot going on in the pipeline, but now you've done quite a good job of deleveraging. Is it possible Takeda could slightly change tack and say, "Actually, we're happy with leverage where it is, and we're now going to more aggressively in-license as well as develop all the assets you've already got in-house"? Christophe, maybe you. I'll start and Christophe can add as well. We continue to look at potential BD, but we are not looking at M&A. We are looking at targeted molecules in the therapy area where we operate. So we always are interested to enrich our pipeline. So this is something that we do in a very dynamic way. That's why we just acquired Adaptate. We did this collaboration with Arrowhead TAK-999. So in the therapy area where we are active, we always look at potential for partnership, targeted acquisition. And you're right, our cash flow is very strong. Financially, we are in good position, so we can do that. Thanks, Christophe. And James, just to echo what Christophe mentioned, if you look at our capital allocation policy, nothing's changed. We continue to invest in our growth drivers, in R&D, in partnerships. Also, rapidly deleverage. We want to deliver low 2x by fiscal year 2023. And as you see in our free cash flow, this continues to grow and gives us the ability to do certain acquisitions, bolt-ons, also share buybacks as well. Thank you. Maybe while we've got you, Christophe, in terms of outlook for the following year, so call it 2023, the outlook that you'll provide in May, what are the key moving parts there? What are you thinking about Velcade? Is that going to be a rapid genericization or anything to bear in mind there? I mean, we still see continuation of our growth, of our top-line revenue growth, in particular driven by our 14 global brands. And this will more than offset Velcade. Yes, we have factored that in, so we do have some headwinds there, but our tailwinds more than offset the headwinds, in particular driven by our 14 global brands. We also have potential upside on the COVID vaccine, COVID-19 vaccine as well. So we still see strong momentum in the top-line revenue growth. Thank you. Maybe just, I don't think we're asking about the vaccine. Just on genericization, because we've had Entyvio pushed out, in terms of Vyvanse, is that likely the following year to be a very rapid erosion? I know it's a scheduled drug. Could that one also end up being a bit slower for any reason? Ramona, can you take that? Yeah, yeah. I can take that. I mean, Vyvanse is a small molecule, so we would expect it to follow a very similar genericization curve as you see other small molecules follow. It's largely U.S.-based, so in the U.S. Thank you. Maybe then a question on the vaccine. So I think, as you mentioned, you've got the Novavax vaccine right for Japan. I think the Japanese government's put a pretty big order in it, 150 million doses. But is that going to be fully for profit, the sort of terms that we see in the U.S.? How might that impact Takeda's P&L? And also, in terms of the longevity of that, is that like a one-off thing for 12 months, or do you think this could be a sort of long-term opportunity for the company? So this partnership with Novavax is a long-term partnership because we are investing into manufacturing capability and the development. So we are creating a capacity for the long term. So we'll have this capacity after the order of the Japanese government. The Japanese government has ordered 150 million doses. So we have an extra 100 million that we could use somewhere else and help other countries. We are in discussion with Novavax about that. And then in the long term, we have these vaccines and this partnership ongoing. So we cannot provide more detail at this stage, but this is a long-term partnership that we have with Novavax. Financially, we cannot disclose details, but we got the financial support from the Japanese government at the time to create this manufacturing capacity. So they will benefit from special conditions economically as well. So you will not see the type of price that you see elsewhere. But in the long term, these vaccines will be, we believe, one of the key vaccines to fight the pandemic. And as we are seeing right now with Omicron, we might be in this endemic situation for a long time. So I think it's important to have these vaccines available. Thank you. And could vaccines in other areas also be an area that Takeda does more in? Is it just a COVID aspiration, or would you like to be lots of other areas? Well, we have moved step by step. We are approaching a very critical moment for us, which is the dengue approval and launch. That will be our first global vaccines developed by Takeda. Takeda is in vaccines, but has never developed its own vaccines. So we are doing that. And this year will be very critical in that regard because there is a very high unmet public health need, and the dengue vaccines could be a very important part of solving the dengue issue. Thank you. Maybe one question about the plasma business. I know some other plasma companies faced quite a lot of disruption to their plasma collection because of COVID. And I believe last year, Takeda slightly lowered the collection targets, but actually said that you weren't encountering such big challenges in terms of plasma and COVID disruption. So as you look forward to the plasma business, I think there was a comment about the hemophilia products to clients alone. How are you now seeing the outlook for that business? Are you seeing big COVID headwinds, or should we see strong growth for the next year or two? Well, we still believe that this business will continue to grow overall in the high single digit, at the high single digit level. The collection will eventually regain some momentum. We were less impacted by the pandemic because we were expanding very significantly our collection capability and capacity. And so we were growing a lot our collection, and at the same time, the pandemic had a depressing effect, but net net, we were much less impacted than other companies because of this expansion. We have also invested a lot in data and technology in this area. At Takeda, we are investing a lot in data and technology overall. We believe that data and technology and digital will transform the industry. So we are moving full into this field. We are investing a lot, and the plasma-derived therapy business has already benefited from that. Thank you. I can see we're almost out of time, so maybe I'll ask a final one, which is what we've got, Andy. Beyond narcolepsy, if there was one area that you think we should focus on in the pipeline, what are you most excited about? Well, I'll give you two. So one is Christophe mentioned TAK-999, which is a therapy for alpha-1 antitrypsin-related liver disease, which will be hopefully starting a phase III study this fiscal year. So that's quite an exciting program in an area that we're all very excited about. And then the second, it's not an indication per se. It's a molecule, and that's subasumstat. Very hard to pronounce. It used to be TAK-981, which was quite easy. subasumstat, which is a very novel agent, a SUMOylation inhibitor, and the effects are on both innate and adaptive immune responses. And we've presented those data, and we're actually now in proof of concept studies across a number of cancer indications. It's quite a unique immuno-oncology agent. We'll be excited over the course of this year to see proof of concept data rolling out. Okay. Thank you very much. With that, we're out of time. Thanks to everyone from Takeda for joining us, and hope you enjoy the rest of the conference. Thank you, everyone.