Richard Vosser - JPMorgan Securities Plc Lars Fruergaard Jørgensen - Novo Nordisk A/S

Welcome, everyone, to Novo Meet Management after the second quarter results. It's my great pleasure at JPMorgan to host Novo here at Victoria Embankment. I'm Richard Vosser, European pharma analyst and I'll just hand over, at JPMorgan, I'll just hand over to Lars who will kick off the webcast section of the Meet Management Day. Lars? Lars Fruergaard Jørgensen - Novo Nordisk A/S: Thank you. Richard, and thank you to JPMorgan for hosting us and thank you, all, for showing up. I will give a brief presentation here and set the scene for Meet the Management. And then there's an opportunity to rotate and meet all of us in three sessions. I'll start by talking through the sales performance in the first half year. It's well known to you that we grew sales by 4% in local currencies. We are pleased with that development. We saw a strong 8% growth in international operations, so outside of the U.S. that was helped a bit by the tender of NovoSeven in the first quarter. So, underlying we're seeing a growth of 7%, so this is very strong growth. And you can see from the regions that we see good contributions coming from all regions. In Japan, we are going through a price reform that impacts NovoRapid and NovoMix this year, but we are actually growing market shares in the insulin category, so I actually think we are executing quite well also in Japan, despite the fact that we are seeing a lower growth here. If you look at North America, it's flat growth in local currencies and this is a half year where we have a tough comparator in terms of some positive rebate adjustments in 2017 in second quarter, and also at year end. And then we have a negative $300…