Colleen Tupper: Thanks for the question. As you saw at the start of 2023, we moderated our price increases a bit given the Inflation Reduction Act, and we will continue to assess and do the math around that to optimize the level of price increase that we can take at the start of the year and ensuring we don’t have tip over to the rebate being in excess of the benefit of the price. So you’ll see slightly moderated as you saw in 2023.
Tim Lugo: Okay understood. And then maybe one last question. With the new 25 million accelerated share repurchase program on top of the 50 million you did earlier in the year. Can you give us an insight into what kind of capital deployment process we’re sizing these repurchase programs. And I assume they allow plenty of room for business development, but maybe just how we should think about these programs going into 2024?
Joe Ciaffoni: Sure, Tim. I’ll let Colleen take that one.
Colleen Tupper: Yes, thanks, Tim. So I would say we’re optimizing our capital allocation based on our priorities and we really think it’s an and not an or where we are ensuring that we can stay opportunistic on the BD front. And if we see something we can pull the trigger there, continuing to rapidly de-lever based on our schedule there over the total four-year period for our term loan and then opportunistically return shares to shareholders via the share repurchase program. So as you’ve seen this year, we’ve been pretty active in the back half of the year which, but with the new $25 million that will bring our total to $75 million this year. And we believe our stock remains undervalued and that’s a tool I would expect we continue to value going forward.
Tim Lugo: Thank you.
Joe Ciaffoni: Thanks, Tim.
Operator: Thank you. Our next question comes from the line of Serge Belanger with Needham. Please proceed with your question.
Serge Belanger: Hi. Good afternoon and thanks for taking my questions. The first one on Belbuca, maybe if you can just talk about the new Medicare Part D plan, you said it was about a 1 million additional covered lives, how does that compare to the existing major Medicare Part D contract that Belbuca had? And secondly, now that Nucynta exclusivity has been extended and the economics will improve, any plans to add additional resources behind that product? Thanks.
Christopher James: Thanks for the question. Serge, I’ll have Scott pick the first one and then I’ll comment on the Nucynta.
Scott Dreyer: Yes, thanks, Serge. In terms of the 1 million lives that’s across some regional Part D plans. And to your question about how it compares to what we currently have. We’re currently covered that large plan for about 12 million lives, so it adds another 1 million. And what we’re excited about is look it opens the opportunity to fuel growth and we’ll continue to engage payers to try to expand coverage further.
Christopher James: And with regards to Nucynta, Serge, the extension will not result in any additional investment beyond what it is that we’ve been doing. We continue to be committed to our entire PAIN portfolio, but clearly Belbuca and Xtampza ER are our growth drivers and the products where we will be providing the greatest support.
Operator: Thank you. [Operator Instructions]. Our next question comes from the line of Les Sulewski with Truist Securities. Please proceed with your question.
Les Sulewski: Good evening. Thank you for taking my questions. First on Xtampza, what levers do you have to mitigate the declining scripts. And then on Belbuca the patient — what is the patient profile for Belbuca essentially, any transfers from Xtampza that you’re seeing and when do 1 million of the Medicare Part D come online?
Christopher James: Les, thanks for the question. Scott will take those.
