FY 2022 figures are better than expected, showing a strong business resilience facing generic competition.Many product launches expected in 2023 should mark the end of the portfolio transition period and fuel the stock's momentum.Profitability in 2023 should still be impacted by multiple factors (inflation, tax rate, pre-launch expenses...), but we see a very positive outlook beyond.We will adjust our model following this publication and after the analyst conference this afternoon.