you have in front of you the de novo study. dr. de novo was studying the nicotine of rats in 83. he found that rats will self-administer nicotine when hooked up to an intravenous nicotine solution. in other words, they will work to get nicotine. and as dr. kessler told us in the hearing that he testified in self administration of this type is hallmark to addiction. i'd ask unanimous consent to enter in the record exhibit six. without objection, i will be released. mr. campbell before you as a police your press release that said the dr. de novo study showed exactly the opposite. i have a copy here which is a marked and it says that the noble study showed that nicotine is quote, in a class of non-audit active chemical compounds such as saccharin or water. i don't think any of us are ever going to find mr. campbell a study that shows rats or any other animals will self-administer saccharin or water intravenously as a way they do. nicotine. i ask unanimous consent to enter in the record exhibit seven. without objection, that will be the order. mr. campbell this is a letter from the d

you have in front of you the de novo study. dr. de novo was studying the nicotine of rats in 83. he found that rats will self-administer nicotine when hooked up to an intravenous nicotine solution. in other words, they will work to get nicotine. and as dr. kessler told us in the hearing that he testified in self administration of this type is hallmark to addiction. i'd ask unanimous consent to enter in the record exhibit six. without objection, i will be released. mr. campbell before you as a police your press release that said the dr. de novo study showed exactly the opposite. i have a copy here which is a marked and it says that the noble study showed that nicotine is quote, in a class of non-audit active chemical compounds such as saccharin or water. i don't think any of us are ever going to find mr. campbell a study that shows rats or any other animals will self-administer saccharin or water intravenously as a way they do. nicotine. i ask unanimous consent to enter in the record exhibit seven. without objection, that will be the order. mr. campbell this is a letter from the d

francine: this is the man in charge of europe's most valuable company, novo nordisk, and its blockbuster diabetes and obesity drugs ozempic and wigovy, containing an ingredient revolutionizing the weight loss market and generating billions in sales. celebrities have helped their popularity soar. sharon osbourne and elon musk have all publicly talked about taking ozempic or wigovy, and have had further backing from oprah winfrey. it's a global phenomenon, reaching millions on social media apps including tiktok. but it is not without controversy, including possible side effects, high prices, and the company's lobbying efforts receiving criticism around the world. and in some cases, patients might also need to take the drugs indefinitely to avoid regaining weight. chief executive lars fruergaard jorgensen says obesity is a disease and thinks the company will learn from its growing number of patients. lars: they will tell you it is chronic treatment. my personal view is that patients are much different and there will be different avenues, so we will have to build a portfolio of interventions

it's a crucial market for weight loss drug makers like novo nordisk, but challenges remain.in the u.s. and the e.u. at the end of the next decade, and rival drugs are already emerging, like zepbound by eli lilly. i asked chief executive lars fruergaard jorgensen about regulatory pressures and future growth. so, how do you think about pricing? again, you must have gotten some difficult questions from governments, but also, this goes back to innovation. lars: most products are priced according to the value they bring. and i feel really good about the value of our medicines, what they bring to the individual patient, but also the value to the health care system. and we have today health care systems around the world who were typically designed for acute care. but finding that 80% of the cost in the health care system is linked to chronic care. and we have portfolio products that are really addressing some of the chronic diseases of our day and age. diabetes, obesity, and the comorbidities that follow that. we know that there are protections that say by 2035, the world obesity o

sarah: i think this is the key issue that novo is having.eing such a big demand but they can't keep up with a capacity they have. this new factory will double the capacity in the u.s. but obviously, these things are not going to happen overnight. it is still a few years out before we get any pens out of the factory. it will not solve the problem immediately. this is something the investors are taking a positive note on because it will solve some of the problems. katie: even with that timeline, with to take a breath. it will take a while to see this boost to production coming. but you take a look at the share price, it is at a record high today. it is up 40% year-to-date over the past year or so, up 90%. how much higher can it go before we see something like another stock split? sarah: like a lot of analysts are tripping over themselves to upgrade some of their targets for the stock right now. what i'm sort of hearing from the analysts, today it passed the threshold that could open up for new stock split. it is not something that is going to

in history as the novo-ogoryov process.iations within the framework of the novoogoryovsky process were held according to the formula 9+1, which meant nine union republics participating in the referendum, plus. the union center, represented by ussr president mikhail gorbachev. these are the nine republics. on april 23, 1991 , the heads of nine republics gathered in novo ogorevo at the call of gorbachev, who continued to combine the post of president with the post of general secretary of the cpsu. eight of them were presidents or prime ministers, while simultaneously remaining party leaders in their republics. except for the leader of russia. boris yeltsin, he was the only one who fell out of this quite a one-party meeting. as a result of the meeting, a joint april statement was adopted. the republics and the union center, in pursuance of the referendum decision, will, as soon as possible, prepare a new union treaty and a constitution associated with it. until these documents are put into effect, the republics live in a trans

hunt not year that amgen that drug might be better than the competitors. >> first of all lily and novotanding still the goal is obsolete their own products with better products and as good as the products are today, historically we would only get t loss medicine, now we are getting 15 - 20% weight loss, these are even more this is a game changer and we know that the therapies can actually reduce the risk of death and heart attack and strokes and recently we got data on sleep apnea and labor disease, kidney disease and there are many adjacent diseases that are improved by helping patients lose weight these are still obesity 1.0 and there are many ways to improve on the therapies we want ones that are better tolerated, they cause side effects and nausea and vomiting in these are injectable once weekly, what if we could give it once a month or less frequently what if we could have an oral therapy that is a once a day pill, we have the therapies that cause as much muscle loss and bad loss and that's not what were going for, we want to retain muscle and also lose fat. amgen is one of the co

it's a crucial market for weight loss drug makers like novo nordisk, but challenges remain. company's patents expire next year and rival drugs are already emerging like set down by eli lilly. i asked the chief executive about regulatory pressures and future growth. so how do you think about pricing? you must've gotten some difficult questions from government but also this goes back to innovation. >> most products are priced according to the value they bring and i feel really good about the value of our medicines, what they bring to the patient, but also the value to the health care system. and we have today, health care systems around the world to typically decide for acute care by finding that 80% of the system is linked to chronic care. we have portfolio products that are adjusting the chronic diseases of our day and age, diabetes, obesity, and the comorbidities that follow that. we know that there are protections that say by 2035, the world obesity federation protects the cost to society will be $4 trillion of people living with obesity. and that causes going to be taken

people need these very, very imrt and to date, ournv has found -- novo nordisk charges americans withsed for just $59 in■ germany, $122 in denmar, and $155 in canada. i think ash here we got it. ozempic, blockbuster drug, an important drug dealing with diabetes and obesity t in the united states, $969. canada, $155. denmark, $122, germany, $59. the same made by the sameen times higher -- more than ten times higher. my arithmetic is not that good. looks to like almost 20 times higher between the united states and germany. americans with diabetes -- that's for diabetes -- $1 serbsing 349 a month. while the same product can be purchased for just the $92 in the u.k. $18 of in denmark and $265 in canada. further,r.■ president, if half of the adults in our country -- and this is not an unreasonable proj adults in our country with obesity took ry su other new weight losst -- and t incredible and every member of congress should be listening to this -- it would cost us as a nation $411 billion every year for weight lossling with diabetes and■ obesity. that is $5 billion more than what american

and i really do want to congratulate the scientist at novo nordisk for their important work. i'm going to save lives all over the world but this product will mean nothing to an american was diabetes, we're dealing with obesity. if you cannot afford that product and that is the case. there are estimates out there the thousands of people will die unnecessarily simply because they cannot afford this product, which has sold so much more expensive in america than in other countries. second point if medicare and medicaid cover ozempic and wegovy there's going to be a huge increase in spending on those two-port important federal health insurance programs in fact, it's going to bankrupt medicare so we have got to get a handle on this. i have invited and he will come the ceo, mr. jorgensen, of novo nordisk, to come before the committee and simply explain why he thinks it's appropriate to charge us 15 times more than the people in germany or the uk? >> so obviously, i can't defend those, those prices and i'm not here to defend, but i do want to ask you a philosophical question because

a fast money show and tell is on tap and comments from the cfo, novo nor disk fights obesity in a new market and ahoy matey for the cruising stocks and rivian climbing on vw, and i'm melissa lee coming to you live from the nasdaq, on the desk, tim seymour, dan nathan and guy adami. we'll get to the housing drop in just a moment and we'll start with the earnings alert with delivery giant soaring after a top and bottom line beat and the conference call just getting under way. frank holland joins us with the very latest. hey, frank. >> hey, melissa. shares are moving a lot higher partly on fedex saying they're conducting fedex freight and that's one of the reasons why fedex shares are popping and that's also a big reason for the stock's rise, fedex freight is a less than truckload business and the biggest in the nation that competes with xbo and old dominion and he sees both of those higher on the news and in the release the company says it will look at the role of freight in the portfolio. we'll look for more color on the call, of course. overall, a pretty strong quarter on guidance, as

one thing that we kind of don't know is the manufacturability, the scaleability of something that novoctu data looked competitive to me. stock was actually down at times pre-market, because of the safety events, but i think when they kind of ran through the dosing, it made people feel more comfortable. we know the demand is going to be off the charts for this drug, so, three oral players, even if lilly and novo are successful here, obviously the manufacturing is key. i think this could be a company that gets acquired by a large cap pharma, maybe not in the space yet, just given the fact that the market, we know, is huge, and this price tag is not going to be. >> that's exactly right, jared. you're talking about a deal, maybe a $4 billion deal at max $5, which is a rounding error for a lot of these. gpcr was a $75 stock in november, not that that matters. but the risk reward here, despite today's move, still seems favorable. more so now maybe. >> i think what we saw today is kind of validating. you can push back on some of the toll rablt issues. what they said to the entire not only to

cnbc has reached out to novo nordisk for more details.ou see the shares are trading higher by 1.6%. still in the pharma space, merck has discontinued the trials of the cancer drug saying this would be unlikely to meet its primary objective. some of the announcement clearly not impacting shares to the possiblitive side. we are seeing them down almost 10%. when it comes to another company, covestro, they say they will target 400 million by 2028 with 190 million of that figure coming from germany. the savings will come from increased efficiency with digitalization and artificial intelligence. let's look at the u.s. futures and understand how the session on wall street is shaping up. you can see on your screen that we are tracking basically a soft start to the session on wall street. looking slightly positive at this stage. when it comes to the economic events that we are monitoring today out of the united states, it includes consumer confidence which is due today. on top of that, we will hear from fed officials as well including michelle bow

for the drugs makers, market leader novo nordics profits grew so rapidly that it was responsible for a notable increase in denmark's g d p. associated feel 6 and what g o p one drugs are today's golden goose and avoid 80 novo. and eli lilly are at the top samples me to come, but there are over 50 obesity drugs currently in development, or more specifically after completely underestimating the market. the competition has now woken up with most of this give me some, i'll shoot you all told of some of the home bound, which is gaining attention for its potential to provide powerful results in treating obesity. so i have some breaking down your orders, the new eli lilly obese, the medication, i want more and i know i shouldn't zip about actually was or the ball. i'm going to check if a new drug is not superior to its predecessor with a new product. we'll drop in price and you don't earn anything. did you know each? there's huge competition to have the best new product you new assume difficult. the development of artificial g, l p one is still in its infancy. while the market is booming, o

possibly can novo telling us that about 35,000 people in the u.s. are starting wegovy over week. that's up from 27,000 in may but it's important to remember that these sites take years to get up and running, so we won't see this investment have an effect right away. guys >> thanks very much. ang angelica, appreciate it. >> you got it. >>> still to come, the eu adopting new sanctions against russia, even on lng. that story is next hi, i'm sally. i'm from phoenix, arizona. i'm a flight nurse on a helicopter that specializes in trauma. i've been doing flight nursing for 24 years. i had a fear that i wouldn't be able to keep up. i wanted all the boost i could get! i heard about prevagen from a friend. i read the clinical study on it and it had good reviews. i've been taking prevagen now for five years and it's really helped me stay sharp and present. it's really worked for me. prevagen. at stores everywhere without a prescription. [ inner monologue ] i needed some help. it's really worked for me. good thing i knew someone... ♪ ♪ or... some-thing. [ a.i.

80 novo and eli lilly are at the top samples. me to come, but there are over 50 obesity drugs currently in development or more specifically after completely underestimating the market. the competition has now woken up with most of the students, and i'll shoot you all told to some of the home bound, which is gaining attention for its potential to provide powerful results in treating obesity. so i have some braking bound chargers the new eli lilly obese, the medication i want more and i know i shouldn't zap about actually was or the unlimited show if a new drug is not superior to its predecessor with a new product. we'll drop in price, and you don't earn anything virginia beach, there's huge competition to have the best new product or the new us from difficult . the development of artificial g, l, p one is still in its infancy. while the market is booming, obesity experts say the new drugs are not a solution to the problem for you. i'm the owner of this house. oh jan girl triumeq. the food industry still has a lot of work to do. ha

80 novo and eli lilly are at the tom sent me to come, but they are over 50 obesity drugs currently in development. the more specific on after completely underestimating the market, the competition has now working up weakness. so just give me some, i'll shoot you all told to some of the home bound, which is gaining attention for its potential to provide powerful results in treating obesity. so i have some breaking down draw news. the new eli lilly obese, the medication, i want more and i know i shouldn't zip about actually because of the ball. i'm going to tell you if a new drug is not superior to its predecessor, the new product will drop in price and you don't earn anything there's, you know, each, there's huge competition to have the best new product. you know, of us from the development of artificial g, l p one is still in its infancy while the market is booming. obesity experts say the new drugs are not a solution to the problem for you. i'm the owner of this house. oh yeah. and girl triumeq the food industry still has a lot of work to do. we have a policy see on the same goes for

what g o p one drugs are today's golden goose and avoid that unique novo and eli lilly are at the tom sent me to come, but there are over 50 obesity drugs currently in developmental level, specifically. and after completely underestimating the market, the competition has now woken up with most of the students. i'm sure y'all told us some of the home bound, which is gaining attention for its potential to provide powerful results in treating obesity. so i have some breaking down your orders, the new eli lilly obese, the medication, i want more and i know i shouldn't zap about actually was available. i'm going to tell you if a new drug is not superior to its predecessor, the new product will drop in price and you don't earn anything. did you know? there's huge competition to have the best new product, but you know, as soon as you felt the development of artificial g, l, p one is still in its infancy. while the market is booming, obesity experts say the new drugs are not a solution to the problem or were you, i'm the owner of this house. oh yeah. and girl triumeq the food industry still h

and novo pokrovsky today , the enemy has already been knocked out from there , stabilization and cleanupe underway, and our troops have advanced near karlovka along the shore of the karlovskoe reservoir, and battles are underway for the liberation of the villages of sokol, there is an advance in kalinovo, it is north of ocheretin, in general , the initiative here is very well maintained and the enemy cannot yet... the troops advanced more than a kilometer north of vesyoly in the direction of the vyimka station, also entrenched in new positions liberated south of razdololovka, battles between usporny and belogorovka continue. in the krasnolimansky direction, without significant changes, battles are taking place near the village of terny in serebryansky forestry; in the svatovo-kupyansky direction, our troops have advanced in the stelmakhovka area, in the ivanovka area, and there are small advances to the east. from petropavlovka, and well, in the kharkov direction, our troops repelled the enemy’s counterattacks again switched to offensive actions in the volchansk area, there is a fairly s

president of russia, i had the opportunity to personally observe the final stage of the debate in novosial issues, about the status of autonomy as subjects of the union, about the property and powers of the union, about the union tax, as well as about the name of the renewed state. the participants managed to reach compromises that were difficult for them. even boris yeltsin, who after being elected president of russia became the style was much more prickly and tough, in the end it worked for the overall result. the prepared draft of the new union treaty was initialed on july 23, 1991 by all participants in the novoogoryovsk meetings. the agreement assumed the creation of a real one. federation, common foreign defense policy, single currency with an emission center, union parliament, president, prosecutor's office and courts, russian language for interethnic communication. the union power was endowed with property, the union budget had an independent tax base. during the last period of work on agreement, even representatives of armenia and moldova declared their desire to join the unio

like i said, novo nordisk is a significant push higher.hat's why you see tech and healthcare at the top end of the counter. utilities and telecoms out of step with the market going down on that front. industrials and household goods managing to move higher. of course, the market will focus on the ecb decision. >>> on to the u.s. futures here. it looks like we could be on for benign moves from the stateside move after yesterday's move higher with intraday records. nasdaq moving 2%. nvidia sucking the a.i. out of the market climbing 5%. speaking of nvidia, this is pretty much the stock we will all focus on. that's been the behemoth that's really moved higher then. we are looking at asml. 2.3% higher. taiwan semiconductor up 5%. the reason why is the chip demand story which continues to move higher. analysts and investors are not just looking at where nvidia is right now. looking at where to from here and that growth has really been very significant and important for markets. you could have added applied materials to the market as well then t

children's playground for children in the outback, this was the gift young residents of the village of novoeovo received in honor of the start of the holidays. sports trainers, play equipment, the opening of such a facility was a real holiday. this playground is part of the state program for... the playground is very good, i ’m glad that they made such a playground in the park, benches near the lake, the playground is quite cool, they installed exercise equipment, there are boilers here - this is the main thing, this is already the fifth site in the mogilev region in agricultural towns such as polykovichi, buynichi, mizhisitki and voskhod. this year we plan to build three playgrounds to make our children happy. by the way, in the mogilev region. this year, almost a hundred playgrounds will be renovated and built. while parents are at work, children who need special care are looked after, fed and engaged in interesting activities. a shift at the druzhba children's health camp has started in cherven. it is organized on the basis of the only one in the area center for correctional and developme

in the western direction, our troops improved the situation near the settlements of novo vodyanaya inseveral guns there. on the same section of the front, a nato armored personnel carrier was shot down. ukrainian fortifications were destroyed in the volchansk area. near vozdvizhenka, kamyshovka and novgorod, donetsk republic. our divisions eliminated more than... 350 militants and a dozen military vehicles. tropical rainstorms have covered several regions of the country. ulyanovsk literally drowned in rain. tens of liters of water spilled onto every square meter. the thunderstorm was accompanied by hurricane winds. some city residents began to build watercraft from scrap materials. the asphalt collapsed under the wheels of one suv in the midst of bad weather. novosibirsk was covered by a volley of rain and hail. short circuits in electrical networks left more than eight without power. a thunderstorm front passed through the capital of tatarstan, discharges operations to rescue stalled cars hit multi-storey residential buildings on the roads. in china , at least nine people became vict

a huge rise in lilly and novo.at one might have is that maybe people are getting too ahead of themselves in terms of pricing into the stock, what future demand is. how do you address that as an analyst in terms of all the future applications they just released the positive sleep apnea data, so many other indications for the drug, which are still being studied that perhaps we're too far ahead of ourselves. >> i don't think people are too far ahead of themselves on lilly. i think lilly and novo are interesting stocks. we have buy ratings on them. i think the downstream applications can be huge for the company and blockbuster products as well. and the one thing for these products to remember is they might likely get better reimbursement than obesity. >> right. exactly. they may be more likely to reimburse for sleep apnea instead of obesity. in terms of the medication coming online for future, better glp-1s, there is so many other smaller players, how do you assess what the competition is out there? >> i get asked that

the ukrainian armed forces launched an artillery strike on the village of novo-zlatopol in the zaporozhyeans were injured. a five-year-old child died in intensive care from his injuries. the governor announced this. earlier, regional authorities stated that, according to preliminary data, the enemy used cluster munitions in the area. in as a result of the attack, two private houses and outbuildings were also destroyed, and cars were damaged. the ukrainian border service has stopped allowing ukrainians to go abroad, even if they have a residence permit in other countries. as an official representative of the department explained, first these persons must register with the military . local publics will draw a conclusion. obviously, immediately after this, those detained at the border will be sent to the front line. they also publish videos where passengers are removed from flights right at the checkpoints. the kiev regime introduced new mobilization rules in may, they are also discussing a further reduction in the draft. used by artillerymen when changing firing positions. alexey baranov ha

charles: someone say if you strip novo out, we don't want to play that game.ou obviously see really great -- i did like this idea too. >> yeah. charles: talk about this, io, obviously we know all of the names here, microsofts, apples, nvidias, amazons of the world. 39, 40% technology. you okay with that weighting for right now? >> here is my thesis here. a.i. is very good but also very expensive. if you look at the earning picture, vast majority of earnings generation has been done by the largest capitalization companies on the planet. this is 80% u.s. a lot is mag-7. it is 20% abroad. for those who don't like the international trade because they have home bias, this is a way to step into it and still be large. this is an a.i. trade for me. charles: an a.i. trade for you. great stuff. >> great seeing you. charles: thank you very much. so, my next guest says it is important that you stay invested, stay invested. that's the key here. in fact i want to bring in ubs private wealth managing director and marketing executive, julia, julie fox. julie, now you're sayin

now we've got this, novo nordisk, they are the famous makers of ozempic and wegovy. for some competition. all right, who is the new competitor? lauren: china. literally, all of china. they have a dozen companies working on yes fleshes. imagine that, china -- generics. china doing the copycat thing. here's the deal, novo nordisk loses the patent on the active ingredient in ozempic and wegovy in china in 2026. so it's soon. and the local drug makers are already -- half a billion people in china are overweight. just overweight. and then another 150 million plus are obese, and goldman sachs is saying that the generics could bring down the brand price by 25%. stuart: wow. and mow slow nor disk and eli lilly still a little bit higher this morning. microsoft. okay, i've got a thin sliver of that, the stock is down a fraction this morning. they're being investigated by the ftc. lauren because of a $65500 million licensing deal $650 million licensing deal. "the wall street journal" is reporting that the ftc -- both companies. regulators want to know how this deal was structur

president of russia, i had the opportunity to personally observe the final stage of the debate in novohe last period of work on the treaty , even representatives of armenia and moldova, who had previously insisted on complete state independence. the agreement was published, its phased signing was to begin on august 20, 1991 with a ceremony in the kremlin, to which the media were invited. and international guests. alas, the signing of a new union treaty did not take place. it was thwarted by a coup attempt undertaken on the eve of signing. august 19-21, 1991 by a group of reactionary officials from the leadership of the cpsu and the ussr. after the failure of the august reactionary putsch, the republics, which had recently been ready to unite in a new union, began one after another to declare their independence and distance themselves from moscow. unfortunately, that's all that's left. which we came so close to creating, but could not create. it's easy to get caught up in the facts when you only see part of the big picture. the pursuit of views changes entire locations, it’s easy to mak

you looking at some of the movers of novo nordisk. >> morgan stanley reiterates dell as a topic theynd thinkers momentum and the a.i. servers in the pc rebound, the stock is up almost 3%. stuart: i saw micron up. >> cantor fitz-gerald ghost wanted $80 a share 20% upside from the last close thanks to the a.i. boom they report next week and cantor says watch their margins strong pricing of the chips could lead to a 40% gross margin as soon as august, that would be a win. stuart: news from apple supplier. >> apple is up $3 now 1.7% tdk japanese supplier says that has a battery rate through a solid-state battery capable of holding more aimed at air pods smart watches, air tax, devices smaller than the iphone. thank you the doctor who blew a whistle on the texas children's hospital faces a judges afternoon. he said the hospital provided gender affirming care for minors even after they claimed the program would be shut down, nate foy joins me why is the whistleblower facing charges. >> because he released this redacted information, today at 3:00 o'clock eastern time, the doctor will appear

>> the analysts were very excited about the outcome, because it really stacked up to lilly's and novo'ssame point in terms of 24 weeks in. what can you tell us in terms of, you know, let's say everything's a go, how quickly would you potentially get this drug to market? >> yeah, i mean, so, we are really excited about the data. as you pointed out, 19% in six months, roughly, translating to that is about 40 pounds or so in six months. that's really exciting. that's the type of weight loss that really can be, you know, moving the trajectory of health, right, over 20% of weight loss, typically results in massive improvements in cardiovascular health, diabetes remission, protection of the kidney. so, i think we're all very excited about the fact that, you know, this is a very meaningful data set. so, we're going to do everything we can to move this as quickly as possible, but you know, we also know that this is a long road, right? i mean, this is drug development. there's lots of milestones here, so, this is one of the critical milestones that we want to have. you know, at roche, we're taki

ukrainian armed forces militants launched an artillery strike on the village of novo-zlatopol, zaporozhyeans were injured. in intensive care from received a five-year-old child died from injuries, the governor announced. earlier, regional authorities said that according to preliminary data , the enemy. the development of medicinal markets within the framework of brik, the joint development and production of new high-quality devices are being discussed in st. petersburg, where the international economic forum is taking place, now live broadcast on our channel. thank you very much, as you can see, there are a huge number of topics, including innovation, drug development, their sale, distribution, consumption and health for our elderly citizens, active longevity and youth, these are all the most important issues raised at this forum, and today we are focusing on brix, on our cooperation within this wonderful space, russia, as you know, is the chairman. we received this chairmanship from our colleagues from brazil, who swapped with us, we were supposed to be chairs next year, and brazil this