Our vision is value through innovation. Simply put, this means we want to find new and better ways of improving health, and we provide value by being innovative. We are committed to the development of innovative, cost-saving medications that fulfill unmet medical needs.

Through our participation in medical and pharmaceutical research for both humans and animals and health system projects—we have a number of those ongoing—we've contributed to significant improvement in health care and have developed innovative and cost-effective medicines.

Our health care system improvement projects are unbranded and pharmaceutically agnostic. The Boehringer family mandates that we have these projects that focus on optimizing patient outcomes and improving health system efficiency, contributing to the sustainability of the health care system.

In Canada, Boehringer Ingelheim conducts and sponsors clinical trials to establish the safety and efficacy of the drugs we develop. Our key therapeutic areas in Canada are cardiometabolic diseases, specialty care including oncologies such as lung cancer and progressing fibrosing lung diseases, and respiratory diseases such as asthma and chronic obstructive pulmonary disease.

In a given year, Boehringer Ingelheim is involved in up to 70 clinical trials. As you can imagine, 2020 has not been a restful year for us either. Since we understood what the world was facing with COVID-19, we've been hard at work to understand the virus and create innovative ways to stem its catastrophic effects on our society and our most vulnerable.

In addition, we've been actively testing existing and new compounds that can help to prevent or alleviate some of the devastating organ damage experienced by individuals who contract COVID-19. We are now in phase two of a therapeutic option that could help up to 85% of our sickest patients afflicted with COVID-19 and who are admitted to ICUs with acute respiratory distress syndrome. Should the therapy be approved, it will reduce the need for ventilators among the most severely affected patients.

As a company founded in 1885, more than a century ago, we've always taken the long view of our work's impact. We plan in generations and focus on long-term performance. Being independent and family owned allows us to pursue that vision that we believe, in turn, has allowed us to have the greatest impact in life sciences.

Independence also allows us to pursue initiatives and endeavours where we believe we can do the most good. It means we can focus on solving some of the most complex health problems our country faces and give us an opportunity to be involved in evolving the patient experience and creating lasting change.

We've been involved in these system-changing initiatives for almost a decade in Canada. Unfortunately, none of the resources we've invested in these areas and in these projects are recognized by the Patented Medicines Prices Review Board.

For example, in September 2020 we were pleased to announce the creation of Bridging HOPE, helping others through palliative care education, an industry-first collaboration with Pallium Canada to improve the quality and accessibility of palliative care in Canada. Together we're equipping health care providers with the skills and tools to provide better palliative care and support patients with life-limiting illnesses and their families, addressing an urgent need that will only increase as our population ages.

I'll go over to you, Mehmood.

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