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to commercial on Beginning teams increasingly markets. in we excellence where competitive operate with had very quarter strong Opdivo continue in continued well slide XX, our the
business Let the at see me you a moment. with on provide perspective how the we
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P&L. close review our are on post the Included of quarter from I'll XX. our its results the a and November legacy approximately fourth business acquisition Celgene company Celgene to as This the close. XX unusual the of quarter result now P&L transaction turn reported the was slide on an weeks of six for
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on So, color let items. me provide some key the line
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established and expect portfolio We strategic brand to dynamics. in competitive due course decline choices a continued
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of stepping royalties. OI&E expect Altogether we billion rate non-GAAP Note our that year. to be on royalties in approximately also expense PD-X offset of roughly interest expense patents. our XXXX by driven interest a an royalties $XX From in debt X.X%. P&L, by includes are AstraZeneca perspective the royalties expect the and from at higher will in up we incremental average offset expense interest interest weighted interest
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legacy the as of taper remain to elevated stock-based and to levels BMS XXXX expect plans down begin over converge. We in Celgene time compensation and
of million XX our ASR. of Basic by issuances evolution We of Celgene of you to count and impact new as conversion also on result count. end the slide of the the $XXX share was a of XXXX the the as impacted want remind the share by
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we've for year. for share approximately see, weighted billion our shares can count guided X.X year the average be you to As the
slide as XXXX, we launch on XXXX, which new the is and in XX, by beyond well in of growth look Now driven reflected guidance. continued as expected of a the as impact see we robust opportunities synergies current portfolio the EPS all
growth competition we updating continued into this rate for mention Revlimid. to guidance while do a not our long-term moderated important to generic anticipate due be expect the year. We that at acknowledging continually will XXXX, growth throughout It's
Now, slide to let's on XX. turn capital allocation
allocation. As we've to from continue the to businesses said we to combined employ capital in we balanced flow approach continue and the cash expect newly past, a will significant
a capital Business of priority. development is top a key strategy therefore and remains enabler our
of track record in increase almost annual also committed We dividend and to recent evidenced as XX% year the XX-plus December. our of increases our remain by
fully time, ratio close and by the we remain to debt X.X achieving to At of EBITDA the our deleveraging gross committed same XXXX. times
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$X share next to today, from stabilizing provides announced execute authorization the billion dilution manage the our repurchase year. compensation by to the share flexibility we've repurchases $X This stock-based we into billion. As disciplined us the share and count increased to with
rate. quarterly provide remind legacy of revenue to Revlimid is don't portfolio, the historically of like in than typically average lighter the full a you I'd run specifically we bit seasonality quarter guidance, the Although, first Celgene the year
The business I to reiterate Before its in the session, in wanted that the medicines the just this reflected growth position our and flexibility a delivering in feel to next of financial about is have for patients. we to chapter company and guidance. move outlook really we on important strong question-and-answer embark good
I'll the back turn and for call the now to over Giovanni John question-and-answer.
