The affirmation mainly reflects the still very strong financial risk profile as well as the good prospects for growth and cash generation despite macroeconomic challenges and geopolitical uncertainties.

The affirmation mainly reflects the still strong financial risk profile as well as the good prospects for growth and cash generation despite macroeconomic and geopolitical challenges.

The affirmation mainly reflects a continued strong financial risk profile as well as good prospects for growth and cash generation despite potential disruption from the Russian and Ukrainian business.

Full-year results and the announced guidance remain in line with the BBB+/Stable issuer rating despite the potential operational impact from the Russia-Ukraine conflict.

The issuer credit rating mainly reflects the strong financial risk profile, solid competitive position in speciality innovative and generic pharmaceuticals, and good prospects for growth and cash generation.