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  "notes": "The chart illustrates a non-risk-adjusted pipeline progression.",
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      "text": "12 named programmes by end 2021 including 1 Phase I/II (Atopic Dermatitis) and 1 Preclinical (Ulcerative Colitis). Building a deep in-house clinical pipeline with commercial launches by end of the decade. A platform capable of delivering 5+ INDs per year from 2024 onwards. Supplemented by out-licensed assets",
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      "text": "Source: Company filings and estimates.",
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