Question-and-Answer Session
Operator
Thank you. (Operator Instructions) And your first question will come from the line of Shivani Malhotra from Goldman Sachs. Please proceed.
Shivani Malhotra – Goldman Sachs
Hi sorry, can you hear me?
Blaine Davis
We could hear you.
Shivani Malhotra – Goldman Sachs
Okay, Blaine I was just wondering if you could take us through the guidance again for 2009 I guess is the number of components that you’ve excluded and there is some confusion around the stock option expenses. So could you just take us through that and then can you also just update us on, how things are going with your cost cutting initiatives I know you said that you were looking at $40 million in cost cuts by 2010 but just trying to look at where we are versus that right now.
Blaine Davis
So again just to reiterate the guidance that we provided is 259 to 267 does excludes the impact of the amortization expenses of commercial intangible assets the majority of that is associated with VOLTAREN GEL as well as with the recent acquisitions of Indevus, the guidance that we provided of 259 to 267 does include the impact of stock option expenses so, that is a change from how we characterize things in the past. As it relates to the cost cutting initiatives, I think we have made good progress to-date on that initiative as you saw we terminate to the development program earlier this year with the partner Alexza as well as the cutting of two programs that we announced today all of that is made solid progress for the achievement of the costs savings initiative we announced, earlier this year. We will continue to look at other parts of the costs infrastructure including our marketing spend for ways to continue to generate that costs savings, but I think we’re well in past to the achievement of that
Shivani Malhotra – Goldman Sachs
Can I just have a quick follow up on your revenue guidance I know you don’t breakout the products, but if we just thinking about how to model laid it strict trends have not been as strong as they have been in the past and you consistently mentioned as a company and the management team that you have been – you are seeing pricing pressure how should we be thinking about the future of this product over the next few years? How should we be looking to model this?
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