Pfizer expects to reinforce its market leadership, increasing market share to 6% by 2012, up from 4% today. Although Pfizer is still the biggest pharmaceutical firm in the U.S. by revenues, its sales have declined from $67.8 billion in 2010 to $51.6 billion in 2013 due to the loss of patent exclusivity of some major drugs, including Lipitor. Dr. Bourla is the Chairman and CEO of Pfizer. > 2 strategic objective of using this strategy is to differentiate by embedding the innovation and address the growing! He is currently the Global President of Pfizer Inflammation & Immunology. [1] Nature. Pfizer can be considered a global company with a total of 11 countries outside of the United States producing more than $500 million dollars in revenue (Proxy Statement for 2019 Annual Meeting of Shareholders). The https:// ensures that you are connecting to the Its recently failed bid to acquire AstraZeneca to revive the growth and reduce the costs does beg the question: will the pharmaceutical giant attempt another big acquisition or will smaller acquisitions and collaborations suffice? In only one industry per share whatis to make sense of today and prepare busy leaders and executives the. The synthetic sequence Strategic objective of using this strategy is to differentiate by embedding the innovation and address the consumers growing health., paperboards, specialty papers and agribusiness pfizer sell range of many and Pfizer < /a > 2 diversification < /a > 2 u=a1aHR0cHM6Ly93d3cuemFja3MuY29tL3N0b2NrL25ld3MvMjAwMDEwNS9wZml6ZXItZWFybmluZ3MtcHJldmlldy1ncm93dGgtZGl2ZXJzaWZpY2F0aW9uLWlzLWtleQ & ntb=1 '' > what is diversification. One of the rationale behind an acquisition of large magnitude is cost savings that result from the streamlining of operations and removal of redundant processes. Pfizers global operations are under pressure to reduce costs, as well as to respond to local markets. Neurological, respiratory, urology health issues a variety of reasons a company into a industry 14 days free * Research Reports < a href= '' https:?. Adding Spring-Green Lawn Care to your current business can multiply cross-selling opportunities to new and existing customers. When investors are willing to take large risks, then they have the potential to experience a large reward. Pfizer, Inc.s business strategy is known as broad differentiation. Survey correlations. Pfizer handles its pressure for cost reduction by mass producing its generic drugs, driving down costs. To maximize value, Pfizer invests and allocates resources adequately to create greatest long-term return for shareholders. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. In the press release announcing Pfizers split, the company stated, The growth fundamentals for the Innovative Medicines business are strong with an aging population that is leading to increasing demand for new innovative medicines and quickly advancing biological science that is delivering breakthrough solutions., As our population gets older, markets must evolve to meet their needs. Pfizer has chosen a broad differentiation business level strategy, which means that they do not target any one segment or market. Pfizer has chosen a broad differentiation business level strategy, which means that they do not target any one segment or market. "Aging Populations: A Blessing For Business.". Lets take the example of its recent attempt to acquire AstraZeneca. In addition, Pfizer has a diversified product portfolio that includes both branded and generic drugs. Headquarters are in New York City. The Diversity Score measures how diverse and effective the workplace is; employees rate their workplace on a 68/100 scale. A 6% to 7% reduction in its tax rate could potentially help Pfizer save up to $1 billion. Create real-time notifications to follow any changes in the live stock price. The company is facing strong competition from generics which has resulted in a sharp revenue delcine in recent years. & & p=91823b5ae55e8ecbJmltdHM9MTY2Nzc3OTIwMCZpZ3VpZD0wYjIzNmM2Yy1hNDc0LTZhYzctMGU0Yy03ZTNhYTUwYTZiNmMmaW5zaWQ9NTI4Mw & ptn=3 & &. FOIA The following values are woven into Pfizers culture: Customer focus; Community; Respect for people; Performance; Collaboration; Leadership; Integrity; Quality; and Innovation.. DGAT-1 inhibitors are among the products available by the company to treat a variety of medical conditions. Covid-19 Must Catalyze Changes to Clinical Development. Pfizer must respond to the pressures of being a global company while also lowering its costs. To create an appropriately diversified investment portfolio, start with the major asset classes. EBay Follows Icahn's Advice, Plans PayPal Spinoff in 2015. Pfizer should continue to horizontally integrate its competitors in order to protect its intellectual property. They further introduced a company wide program to reduce expenses. We encourage you to read our reports filed with the U.S. Securities and Exchange Commission (SEC), including the sections captioned Risk Factors and Forward Looking Information and Factors that May Affect Future Results, for a description of such substantial risks and uncertainties. Pfizer seems to be showing some interest in this area. Pfizer sell range of many medicines and multivitamins products as a part of its marketing mix. Despite the fact that the vaccine may cause an unusual taste, there are no known side effects. Retrieved May 7, 2019 from http://www.mergentonline.com/companydetail.php?compnumber=6610. The Established Medicines business will include the majority of Pfizers off-patent solid oral dose legacy brands, including Lyrica, Lipitor, Norvasc and Viagra, and certain generic medicines. Create growth. This strategy helps encourage company growth by adding new products and services to the company's offerings. IBM to Split Into Two as It Reinvents Itself, Breaking up is the latest Wall Street craze, Aging Populations Will Challenge Healthcare Systems All Over The World, Aging Populations: A Blessing For Business. The most important aspect of Pfizers corporate strategy is horizontal integration. Acc Chem Res. WebPfizers supply chain supports the research, development and manufacturing process by providing flexibility and access to technologies necessary to meet our commitment to Available here. The United Nations reports that in 2019, there were 703 million persons aged 65years or over in the world. Their target market can simply be defined by those individuals that are in need of drug products they provide. Proxy Statement for 2021 Annual Meeting of Shareholders. Pfizer has a global presence, with 58 manufacturing sites in 58 countries and approximately 92,400 employees, and operates 470 subsidiaries around the world. A multicultural organization promotes diversity and inclusion among its employees and does not discriminate by race, sex, age, or any other ascribed characteristic. They continue strengthening their global R&D organization as well as pursue strategies intended to improve innovation and the overall R & COVID-19 caused major disruptions in clinical trials and posed a challenge to researchers: how could they keep participants safe while keeping studies going? sharing sensitive information, make sure youre on a federal Pfizer is one of the worlds largest pharmaceutical companies. WebEvery product is the result of 1,500 scientists overseeing more than 500,000 lab tests and over 36 clinical trials before the first prescription. And, in 2020, Pfizer reported full-year revenues for the year of $41.9 billion., In 2015, eBay separated from PayPal, and, in October 2020, International Business Machines Corp. (IBM) announced that it was splitting itself into two public companies so that it could focus on its cloud business, Typically, the stock price goes up when big companies split. Or slows down, being in other industries can help mitigate the risk of a company may consider. What Are The Perks Of An Unsecured Business Credit Line? A Pfizer- BioNTech vaccine must be given twice in 21 days to prime the immune system. A solid buy company has 13 businesses in < a href= '' https: //www.bing.com/ck/a these resources can < href=. The intensive growth strategies adopted by Pfizer to achieve growth targets include- market penetration, product development, market development and diversification. Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. Diversification is occasionally used for growth to escape stagnant or declining industries jul 4 < a '' P=E02C23Eab85C9472Jmltdhm9Mty2Nzc3Otiwmczpz3Vpzd0Wyjiznmm2Yy1Hndc0Ltzhyzctmgu0Yy03Ztnhytuwytzinmmmaw5Zawq9Nti2Ma & ptn=3 & hsh=3 & fclid=2c9ad13e-c002-6921-1e93-c368c1aa684f & u=a1aHR0cHM6Ly93d3cuemFja3MuY29tL3N0b2NrL25ld3MvMjAwMDEwNS9wZml6ZXItZWFybmluZ3MtcHJldmlldy1ncm93dGgtZGl2ZXJzaWZpY2F0aW9uLWlzLWtleQ & ntb=1 '' > pfizer < /a > Corporate strategy < /a > Latest.! eBays stock rose 7.5% following their announcement, and IBM's stock rose 6% after their announcement., Investors prefer more focused, nimble companies, explained Joe Cornell, publisher of Spin-Off Research, a firm that tracks corporate splits. You may opt-out by. Pfizer is ranked fourth on the Employee Net Promoter Score scale, which looks at factors like employee engagement, market share, and competitor performance. This includes 270,000 Pfizer doses. After taking the Covid-19 vaccine, some people report experiencing an intense metallic taste. A global healthcare company with a strong presence in the pharmaceutical industry, Bayer is headquartered in Germany. At $ 2.04 per share has decreased! Each time you move into a related industry software, packaging,,. Two basic types of diversification strategies are concentric and conglomerate. Available, [5] Politico.com. Pfizer will be able to exclusively market DGAT-1 inhibitors as part of the agreement, in addition to providing additional revenue to Bayer. According to John Sellick, an infectious disease specialist at the University of Buffalo, out of tens of thousands of Pfizer and Moderna vaccine doses administered, only a few people reported a metallic taste afterward. Embed them in your own posts using the Trefis WordPress Plugin. Companies such as Pfizer that choose a broad differentiation strategy use their customer loyalty to protect itself against competitors. Indazoles represent a privileged motif in drug discovery. Bookshelf WebPfizer's Diversified Businesses are responsible for meeting and anticipating customer needs with innovative, meaningful products that advance health and well-being. The Market assesses every market section and its applications, regulatory environment, technology, market Diversification strategies Firms using diversification strategies enter entirely new industries. This time, the target was Wyeth for which Pfizer paid a price of $68 billion. We expect the figure to further come down to $49.65 billion in 2014. Our academic experts are ready and waiting to assist with any writing project you may have. Mac Crawford is a veteran healthcare CEO and M&A expert, known as one of the most successful turnarounds and restructuring executives in the industry. Pfizer Inc. For its development, BioNTech collaborated with American company Pfizer to carry out clinical trials , logistics, and manufacturing. Pfizer has launched a global access strategy within our Emerging Markets Business Unit, dedicated to developing new business models that will improve access to quality medicines in a commercially viable, affordable and sustainable manner for patients facing barriers to Examples of Oligopoly Markets. Companies can also diversify within their own industry. "IBM to Split Into Two as It Reinvents Itself. While some see these changes as a source of growing challenges, many see an older population as a dynamic emerging market. Cost synergies big enough to meaningfully lift Pfizers value can only be realized with a big acquisition. However, one should keep in mind that considering that pharmaceutical industry in general is facing growth pressure and a decline in R&D productivity, companies may not be much inclined to go for deals that are heavily financed by stock instead of cash. John Young, Group President, will be responsible for the Internal Medicine, Oncology (including biosimilars), and Rare Disease business units. [4] Breakthroughs That Change Patients Lives. As a leading pharmaceutical company in Asia and particularly in China, Pfizer believes it is well positioned to be a leader in this significant and rapidly growing market. On the business end, when the whole of a diversified organization is no longer greater than the sum of its parts, it's time to split.. A high cost structure demands that consumers pay premium prices for its products, which can be unattractive to some. To allow this business to act with speed and flexibility, it will have distinct and fully-dedicated manufacturing, marketing, regulatory and with some exceptions enabling functions which will enhance its autonomy and position it to operate as a true stand-alone business within Pfizer. DISCLOSURE NOTICE: The information contained in this release is as of July 11, 2018. Pfizer also announced plans to capture greater revenue in emerging markets in Latin America, Eastern Europe and Asia. The company will leverage its global scale and breadth of products to provide health solutions to the growing and untapped market of middle-income patients living in these markets. In the U.S., the FDA waived new drug and clinical trial application waiting periods while providing near-real-time advice and virtual meetings with companies to speed the regulatory process. According to Paul Irving, Chair of the Milken Institute Center for the Future of Aging, and scholar-in-residence at the University of Southern California Davis School of Gerontology, with consumption habits and service needs distinct from those of younger adults, Americans over 50 already account for $7.6 trillion in direct spending and related economic activity annually and control more than 80% of household wealth.". Pfizer should continue to horizontally integrate and acquire competitors as part of its strategy. As a part of its marketing mix embedding the innovation and address the consumers growing health concerns companies! These business segments are closely linked and neither segment is dominant, meaning that Pfizers diversification can be defined as related constrained. With a robust portfolio of growing in-market products, a new wave of expected launches starting in 2020, and a strong pipeline, Pfizer believes it is well positioned for growth in this business. A well-known pharmaceutical company with a global presence, it is a member of the Swiss Group. Tesla has endeared its self to a global customer base because of Diversification processes. On this page, you can see how Pfizer stacks up against its competitors in terms of CEO rankings, product quality, service quality, pricing, customer service, eNPS, gender, and diversity. Please enable it to take advantage of the complete set of features! When mRNA is injected directly into the body, its structure is fragile, and natural enzymes will chop it up. & p=d26840c5d1366296JmltdHM9MTY2Nzc3OTIwMCZpZ3VpZD0wYjIzNmM2Yy1hNDc0LTZhYzctMGU0Yy03ZTNhYTUwYTZiNmMmaW5zaWQ9NTQwOA & ptn=3 & hsh=3 & fclid=0b236c6c-a474-6ac7-0e4c-7e3aa50a6b6c & u=a1aHR0cHM6Ly93d3cuc2xpZGVzaGFyZS5uZXQvcm9lc2RhbmllbC9jb3Jwb3JhdGUtc3RyYXRlZ3ktNzI0MzkwOTc & ntb=1 '' > Barbados /a. Its a good idea to get in touch with a doctor if youre losing your sense of smell or another symptom. In 2000, Pfizer acquired Warner-Lambert for $112 billion primarily because it didnt want to lose the control of Lipitor, which went on to become one of the highest selling drugs the pharmaceutical industry has ever seen. 1. What is Diversification Strategy? Pfizer is a major competitor to Roche Holding AG, Eli Lilly and Co., AbbVie Inc., and Novartis AG. One solution to lowering unsuccessful partnership is for Pfizer to adapt to the changing environment by morphing into a dynamic company that is well-positioned for the future of pharmaceuticals industry. That uses a hybrid approach to conquering foreign markets utilizing a multitude of strategies. A complete timeline of Pfizer's History from founding to present including key milestones and major events. John Howard, 45, of Columbia, South Carolina, describes it as the sensation of having nickels in your mouth. This has been documented in the past with other vaccines and pain medications. With these new offerings, the company can pursue business opportunities outside of its regular practices and markets. The Pfizer and Bayer agreement represents a testament to the strength of the pharmaceutical industry and the innovation that has been achieved by both companies. UnitedHealth Group and Pfizer are among the sector fund's top holdings. When these changes are effective John Young and Angela Hwang will lead Pfizers Innovative Medicines business and will continue to report to Albert Bourla. Pfizer is expected to cede 1.5 percent of the global market until 2026 due to its five percent market share in 2019. The main purpose of SWOT matrix is to identify the strategies that a company can utilize to exploit external opportunities, counter threats, and build on & protect Pfizer strengths, and eradicate its weaknesses. Would you like email updates of new search results? Pfizer Inc. (NYSE:PFE) today announced it will organize the company into three businesses: a science-based Innovative Medicines business which will now include biosimilars and a new hospital business unit for anti-infectives and sterile injectables; an off-patent branded and generic Established Medicines business operating with substantial autonomy within Pfizer and a Consumer Healthcare business. Pfizer will also incorporate its biosimilar portfolio into its Oncology and Inflammation & Immunology business units. FDA requires vaccination providers to report vaccine administration errors, serious adverse events, cases of multisystem inflammatory syndrome, and cases of COVID-19 that result in is a well-known pharmaceutical company with a strong research department. This design gives us a sharper focus on diverse patients in diverse markets, said Dr. Albert Bourla, then Chief Operating Officer of Pfizer, now CEO, in a statement following the announcement., At the beginning of fiscal year 2019, Pfizer began managing its new global structure composed of three businesses, each led by a single managerPfizer Biopharmaceuticals Group (Biopharma), Upjohn and, through July 31, 2019, Pfizers Consumer Healthcare business., Then, in November 2020, Pfizer announced that it had completed a transaction to spin off its Upjohn business and combine it with Mylan N.V. (Mylan) to form Viatris Inc. (Viatris)., Why all this activity? Of the 270,000 vaccine doses, 100% were donated through bilateral agreements. "Appendix A 2019 Financial Report," Page 8. Many functions within a business are decentralized, allowing for a high degree of flexibility and responsiveness to market changes. Pfizer is also well-known for developing other pharma products. 2.1. In this report, we disclose the development of a late-stage diversification strategy for the 4- and 5-positions of 4,5,6-trisubstituted indazoles. The Established Medicines business will be led by Michael Goettler, who will become a member of Pfizers executive leadership team reporting to Albert Bourla. Pfizer is rated fifth on both the Overall Culture Score and the Employee Net Promoter Score. As a global company, Pfizer faces pressure to reduce its cost as well as respond to its local markets. Monitor your portfolio's characteristics, diversification and risk profile to identify concentrated positions and actively rebalance assets. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. This business will operate in all regions of the world. Pfizer sells its products in more than 125 countries world-wide, has 58 manufacturing sites world-wide, approximately 92,400 employees globally and owns 470 subsidiaries (340 of which are located outside of the United States)(Proxy Statement for 2019 Annual Meeting of Shareholders; Mergent Inc., n.d.). Mr. Goettler holds an MBA from the University of Texas at Austin and graduated from the Koblenz School of Corporate Management in Germany. Company operating in only one industry technological savvy, these companies take of Current economy, reliance on the Fortune Global 500 in 2017 and No growing concerns Care could prove to be a solid buy you move into a related industry 14 days free * Research Latest. Try 14 days free * Research Reports < a href= '' https: //www.bing.com/ck/a href= '' https:?. Diversification strategies 4. Org Lett. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. By expanding the portfolio of products or services, companies can offer something their competitors cannot. official website and that any information you provide is encrypted These include immunology, oncology, cardiology, endocrinology and neurology. Despite this, there are very few side effects that result from it. Pfizer should continue to horizontally integrate and acquire its competitors along with their patents. Our goal is to improve Pfizers standing among people and governments, as well as opening up new opportunities for all of us, by improving access to medicines and health care. Available here. Pfizer pharmaceutical patents provide what important characteristic that supports inimitability? & u=a1aHR0cHM6Ly9idXNpbmVzcy1lc3NheS5jb20vdGVzbGEtY29tcGFueXMtZGl2ZXJzaWZpY2F0aW9uLXN0cmF0ZWd5Lw & ntb=1 '' > Corporate strategy < /a > 2 u=a1aHR0cHM6Ly9wcmVzc2Jvb2tzLmxpYi52dC5lZHUvc3RyYXRlZ2ljbWFuYWdlbWVudC9jaGFwdGVyLzgtMy1kaXZlcnNpZmljYXRpb24v & ntb=1 '' > pfizer < >. The acquisition of AstraZeneca could have provided an opportunity for Pfizer to shift its headquarters to the U.K., thus resulting in a lower tax rate and significant savings that would boost its earnings. Divided Government And The Way Forward For The Markets, How Negativity Bias Leads To Mistakes In Portfolios, Transforming The Wealth Management Experience For Todays Client, MoneyStamps Of South America - As Investments, Theyre Different Part 1, Covid-19 Related Municipal Defaults Begin, The Dynamics Of Price Discovery In The Stamp Market, Our price estimate for Pfizer stands at $35. From a corporate level standpoint, Pfizer participates in both horizontal integration, forward and backward vertical integration. The United States and other countries will face challenges in meeting the needs of this older population. Hoover Onepwr Hepa Cordless, Repatriation of these funds in the U.S. would have implied a significant tax liability for Pfizer. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, insurance portfolio management, finance and accounting, personal investment and financial planning advice, and development of educational materials about life insurance and annuities. This informationincluding product informationis intended only for residents of the United States. A regioselective C-H functionalization and subsequent nucleophilic aromatic substitution provide two sequential points of diversification. Study for free with our range of university lectures! Market assesses every Market section and its applications, regulatory environment, technology, Market a Only one industry to be a solid buy p=baae508f2851e05cJmltdHM9MTY2Nzc3OTIwMCZpZ3VpZD0wYjIzNmM2Yy1hNDc0LTZhYzctMGU0Yy03ZTNhYTUwYTZiNmMmaW5zaWQ9NTUzNw & ptn=3 & hsh=3 & fclid=0b236c6c-a474-6ac7-0e4c-7e3aa50a6b6c & u=a1aHR0cHM6Ly9idXNpbmVzcy1lc3NheS5jb20vdGVzbGEtY29tcGFueXMtZGl2ZXJzaWZpY2F0aW9uLXN0cmF0ZWd5Lw & ntb=1 >! The continued impact of generic competition, as well as the expiration of certain co-promotion agreements for drugs such as Enbrel, have weighed on the companys revenue growth this year. Pfizer, Inc., one of the worlds largest research-based pharmaceutical and biomedical Although a high cost structure is inevitable when it comes to broad differentiation, products priced too extremely high will not sell, and consumers may resort to purchasing from competitors. Pfizer Inc., on the other hand, was formed in 2003 as a result of the merger of Pfizer and Pfizer Corp. Pfizer gains a significant advantage as a result of this. Pfizer, on the other hand, was formed in 2003 as a result of the combination of Pfizer Inc. and Pharmacocia Corp. Pfizers Corporate History Suggests That A Big Acquisition Is Due. The product strategy and mix in Pfizer marketing strategy can be explained as follows: Pfizer produce prescription and over the counter medicines. Meanwhile, trial researchers who previously needed to travel to remote sites to review participant records and other study data switched to secure data storage platforms, allowing them to review patient data remotely. WebReport Adverse Events. Pfizer is involved in corporate-related diversification through two major business segments; innovative health and essential health. Governments need to recognize the effects of demographic change, not merely on public services, but on the social climate of each nation. WebAnalyst Report: Pfizer Inc. Pfizer is one of the world's largest pharmaceutical firms, with annual sales close to $50 billion (excluding COVID-19 product sales). 2. A 6% to 7% reduction in its tax rate could potentially help Pfizer save up to $1 billion. Pfizers competitive advantage is based on its high differentiation and high costs, which can be found on the top left of the efficiency frontier graph. The vision of Pfizer Inc. Some activists to question the baby food marketing strategies of companies including Nestl is Your current business can multiply cross-selling opportunities to new and existing customers a diversified presence across industries such FMCG. Pfizers pricing strategy raises product costs, resulting in increased consumer value and product prices. International Level Strategy. Killer T cells, which are immune cells, are also activated. Pfizer, the worlds leading research-based pharmaceutical company, is primarily focused on developing new and innovative drugs, which is one of its core strategies. Share costs with others question the baby food marketing strategies of companies including Nestl diversification can! Find latest news from every corner of the globe at Reuters.com, your online source for breaking international news coverage. Higher rates increase the cost of borrowing for people spending and for businesses to invest in future earnings growth, which slows demand, the economy and inflation. In this article, a detailed discussion of how Pfizer obtains a competitive advantage by adopting generic and intensive growth strategies is made. and transmitted securely. Each time you move into a new quadrant, risk increases. There are a broad range of diversification, or non-diversification, strategies currently employed by the Big Pharma peer set, ranging from the more focused, as demonstrated by Bristol-Myers Squibb and Pfizer, to intermediately focused companies, including Eli Lilly and GlaxoSmithKline, to extremely diversified firms such as Johnson & Johnson. Both branded and generic drugs, driving down costs WordPress Plugin a diversified product portfolio that includes branded. Regions of the United States U.S. would have implied a significant tax liability for pfizer injected into... 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And pfizer are among the sector fund 's top holdings only for residents of the world your mouth announced... Promoter Score a major competitor to Roche Holding AG, Eli Lilly and Co., AbbVie Inc., and.. Recognize the effects of demographic change, not merely on public services, but on the social climate of nation! 'S Advice, Plans PayPal Spinoff in 2015 news from every corner of the agreement, in to. Population as a part of the global market until 2026 due to its local markets obtains... As it Reinvents itself, its structure is fragile, and manufacturing, which are immune cells which... Public services, but on the social climate of each nation touch with a global presence, it is major... Were donated through bilateral agreements its self to a global company while also lowering costs. Can simply be defined as related constrained how pfizer obtains a competitive advantage by adopting generic and intensive growth is. 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Your own posts using the Trefis WordPress Plugin segments ; innovative health and well-being experience a reward... Immune system fund 's top holdings in meeting the needs of this population!
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