Yes, longer term with $1B R&D CSL will come up with new...

Yes, longer term with $1B R&D CSL will come up with new products. Hopefully CSL 112 is going to be good. In the meantime Argnex VYVGART is going to be a threat which ever you look at it. Argnex SP is about 40% since announcement of their success with CIDP treatment. Total market for CIDP is not going to increase from current levels which is supposed to be about 25% if the 15B global market. I don’t know how much of the $4B CSL sales value of IG is CIDP, but if I assume it to be 25% it is about $1B.
It is Argnex or IVIG of CSL which will win over the market. Under this circumstances, until CSL has something else to backup like CSL 112, I think market will be cautious in the PE it will be prepared to give.