Sam Fazeli

So, of course, that is, I think, a very good segue to any of these indications, cardiometabolic, chronic inflammation, neurodegenerative diseases, and, of course, oncology.

I think the company has a very interesting approach to the way that it operates in other countries outside of China.

and even within China.

But do you want to tell us about the various subsidiaries that you form and what the objective of those is?

Does that also help you if at some future time political tensions became difficult to manage, to manage that aspect?

Maybe talk to us about how you think about structuring the ex-China businesses.

Sure.

Understood.

Now, thinking about, if I think over the past 10 years, I think you've told us a little bit about the strategy over the next 10 years.

But if you wanted to tell me, obviously, it's the crystal ball stuff.

There's so much volatility in the world at the minute that it's very difficult to project even three months down the road, let alone 10 years down the road.

But in your best hopes, where would you think Fosun Pharma would be in five or ten years' time with regards to split of business from, say, the innovative medicines versus the generic, even biosimilar?

I mean, I think in some instances, biosimilars can sometimes be better than... Of course, they can't be by definition, but it's possible to make a biosimilar of a drug that's... Or a similar of a drug that's better, but...

BioBeta, where do you see the company in whichever form or shape you want to refer to it in five to 10 years time?

Great.

So just one last question before we move on to some specific product discussions.

Obviously, this all then requires spending money on R&D.

When I look at Fosun Pharma's R&D, it was about 8% to 9% of revenues, $500 million.

Now, that's a good R&D spend, especially in China.

But your ambitions suggest that you're going to have to raise R&D spending.