Operator: Our next question comes from Nathan Rich from Goldman Sachs. Please go ahead. Your line is open.
Nathan Rich: I’ll ask both upfront. One, I kind of just wanted to build on Erin’s question. Jeff, when you’re thinking about the launches next year and that kind of historic launch window that you referenced, how should we think about the contribution of new products ramping up in 2024? And what are the biggest kind of swing factors and things we should keep in mind as you think about kind of go-to-market strategy. And then secondly, I wanted to ask just on cadence of earnings this year. It seems like the first half numbers were maybe a little bit than we would have expected, especially on the EBITDA line. Could you maybe just talk about kind of first half versus second half cadence and what you kind of expect for kind of underlying growth as we think — as we move through the year.
Jeff Simmons: Yes. Great question, Nathan. So I think, first of all, it is to us, taking the existing capabilities that we’re actually building and building on. And I think Zorbium is a good example of this is we’re looking at adding enhanced back to our Investor Day marketing enablers from the right pricing to digital, to globally, making sure we’ve got the right share of voice in the right markets, that will be absolutely critical. We feel like we’re in a really strong place now. We don’t need to add a significant number of sales reps we believe, but it will be targeting and enhancing the appropriate insurance of having the right share of voice the right capabilities to drive demand. And we’re seeing that, and we’re able to test that with the Zorbiums, the Bexacats, the parvovirus is coming the vet clinic.
And actually, these are first-in-class products that are drawn a lot of interest in bringing us into a lot more clinics. That’s number one. Two then is all around the segmentation of the differentiation in the products and what segments that we’ll go after. And that will be all building around this launch readiness. So we’ve had a lot of good progress on our launch plans for these products. what Tim is going to be able to do is bring his experience and take our existing teams and actually enhance those launch plans and ensure that we’re efficiently but putting the resources in the right place to capture those areas. And then look, we’re going to look at the timing of these launches with numerous coming is where do we leverage them together and where do we lean in individually.
And as Todd said, there will be pushes and pulls. There will be some that will come sooner than we expect and maybe some of that will be a little bit delayed. But as a whole, we’ll be timing those resources and looking at how we can complement them together as well.
Todd Young: And Nathan, let me provide you how we’re seeing the first half, second half dynamics first half, Northern Hemisphere, parasiticide season, and the contribution from the retail product is the big driver of both gross margin and EBITDA. We do have that declining year-over-year in the first half as we’ve got this recessionary pressure the Q4 ending and taking those things into account. So that does make it a tougher EBITDA situation. The other part, I would say, Bobby Modi came on at the end of the first quarter last year, his team has really ramped up their execution is seen by bringing the new advantage relaunches to play and making sure we’re investing appropriately behind our biggest brands at the right time and doing that.
