Sam Fazeli

I mean, that could be just a simple barometer, right?

And then, of course, you bring China into this equation, which have just gone stratospheric, at least in terms of the chart, in terms of numbers of companies backing for science and really pushing for biotech and forget all the other sectors that they're active in.

How do you feel?

What's your thoughts on all this?

Yeah, well, I join you in that.

The issue I think Europe has is that at the same time, so we need GDP growth to feed any of these expenditures.

And I don't think that's particularly great at the minute.

We need to think about if people are genuine about their defense spending, well, that has to come out of somewhere.

If your GDP is growing at 3% and you want to increase your defense by 5%, where are you going to get that difference from?

And unfortunately, the only two ways that this can go, because I don't know, if suppose, suppose tomorrow UK said, OK, OK, OK, look, guys, we'll pay 10% more for the drugs.

But that doesn't actually solve the problem because it's not that small, that difference.

But the only solution is say, fine, let's say, let's play this forward that we end up with two years down the road.

A whole bunch of drugs have been launched in the US first.

The pharma companies go, let's say the comparative price is too much.

They just say, look, I just don't want to launch here for now.

At least while there's such a focus on this delta in prices and net prices.

Till I get a feel that I can... Who suffers?

The patients suffer.

The only way the Europeans can deal with that afterwards is to go, okay, no.

So we can't increase our budget.