Call Start: 14:00 January 1, 0000 2:33 PM ET Iron Mountain Incorporated (NYSE:IRM) RBC Capital Markets Global Communications Infrastructure Conference Call September 27, 2023 14:00 ET Company Participants Barry Hytinen - Executive Vice President & Chief Financial Officer Conference Call Participants Jonathan Atkin - RBC Capital Markets Jonathan Atkin Welcome to the afternoon fireside chat. If you have any conversations going on, you might want to take it to the hallway. So I'm John Atkin with RBC and I'm pl ...

Company and Industry Overview * **Company**: Digital Realty Trust, Inc. (NYSE: DLR) * **Industry**: Data Center and Cloud Infrastructure * **Event**: RBC Global Communications Infrastructure Conference, September 27, 2023 Key Highlights and Trends * **Positive Outlook for 2023**: Digital Realty experienced a strong start to 2023, driven by positive fundamentals such as improved pricing power, solid demand growth, and constrained supply in various markets. * **AI Demand**: The rise of AI has further accelerated demand, particularly from larger cloud-related customers. * **Occupancy and Development**: The company aims to improve occupancy rates in its existing portfolio while developing 375 megawatts of new capacity, with a strong pre-leasing track record. * **Deleveraging Efforts**: Digital Realty has made significant progress in deleveraging its balance sheet, reducing its leverage ratio from 7x to 6.3x on a pro forma basis. * **Development Joint Ventures**: The company is exploring development joint ventures to manage capital spend and leverage, particularly in high-growth markets. * **Global Expansion**: Digital Realty is actively expanding its global footprint, with a focus on regions such as North America, EMEA, and APAC. * **Supply Chain and Power Constraints**: The company acknowledges the challenges posed by supply chain disruptions and power constraints in certain markets, but maintains a strong position in key locations. Core FFO per Share * **Deleveraging Efforts**: The company's deleveraging efforts, including asset sales and joint ventures, are expected to offset the positive fundamentals and lead to long-term stabilized growth. * **Interest Rate Risk**: The company is monitoring interest rate risk and its impact on future periods. * **Property Taxes and Power Prices**: Other external factors, such as property taxes and power prices, are also being monitored. Development Joint Ventures * **Hyperscale Development Joint Ventures**: The company is exploring hyperscale development joint ventures, initially targeting a $750 million investment. * **Geographic Focus**: These joint ventures are expected to be geographically diverse, with the potential for expansion over time. AI Demand * **North America-Oriented**: The majority of AI demand is currently focused in North America, with growing interest in EMEA and APAC. * **Data Sovereignty**: Some AI workloads may require deployment within data sovereign regions, particularly in EMEA and other country-oriented markets. Other Key Points * **Non-Core Asset Sales**: The company has successfully sold non-core assets and stabilized joint ventures, generating significant capital. * **Recycling Capital**: Digital Realty plans to continue recycling capital and diversifying its capital sources. * **Supply Chain and Power Constraints**: The company is actively managing supply chain and power constraints, particularly in power-constrained markets. * **Renewable Energy**: The company is exploring opportunities to incorporate renewable energy into its portfolio.

Crown Castle Inc. (NYSE:CCI) 2023 RBC Capital Markets Global Communications Infrastructure Conference September 27, 2023 9:30 AM ET Company Participants Daniel K. Schlanger - EVP and CFO Conference Call Participants Jonathan Atkin - RBC Capital Markets Jonathan Atkin Let’s get Started. I'm Jon Atkin, I'm with RBC and I'm pleased to have Dan Schlanger for our kickoff session at our Annual Global Communications Infrastructure Conference. Dan is the CFO of Crown Castle and maybe just to kind of warm things up, ...

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Amarin Corporation plc (NASDAQ:AMRN) Cantor Fitzgerald Annual Global Healthcare Conference September 26, 2023 9:55 AM ET CompanyParticipants Patrick Holt - President and CEO Conference Call Participants Carvey Leung - Cantor Fitzgerald Carvey Leung My name is Carvey Leung, and I'm a research associate at Cantor here. Thank you for joining us today, Patrick. Question-and-Answer Session Q - Carvey Leung To start, can you tell us a little bit about yourself and your role at the company? Patrick Holt Yes, sure. ...

Key Points Industry/Company Involved * **Company**: Pfizer Inc. (NYSE:PFE) * **Industry**: Healthcare, Pharmaceuticals Core Views and Arguments 1. **COVID-19 Uncertainty**: * **Uncertainty**: The company acknowledges the uncertainty surrounding COVID-19's future, including its duration, utilization of vaccines and treatments, and transition from government to commercial systems. * **COVID-19 as a Chronic Condition**: Pfizer believes COVID-19 will become a chronic condition similar to the flu, requiring ongoing management and treatment. * **Utilization**: Pfizer expects high utilization of COVID-19 vaccines and treatments, particularly PAXLOVID, due to increasing hospitalization rates and the emergence of new variants. * **Commercialization**: Pfizer has entered the commercial market in the U.S. for COVID-19 vaccines and treatments, with long-term contracts in Europe, Japan, and Canada. * **Vaccination Rates**: Pfizer is awaiting data on vaccination rates to better understand utilization. * **PAXLOVID**: Uncertainty remains regarding the transition to a commercial market in the U.S. and the future of PAXLOVID utilization. * **Timeline**: Pfizer expects to resolve all uncertainties by the end of the year, allowing for better planning and forecasting for the next year and beyond. 2. **Vaccine Portfolio and Innovation**: * **Vaccine Portfolio**: Pfizer has a robust vaccine portfolio, including approved vaccines and those in development, such as Prevnar and RSV maternal vaccine. * **RSV**: Pfizer expects strong demand for RSV vaccines, driven by high vaccination rates and the introduction of new platforms for protecting infants. * **Combination Vaccines**: Pfizer is working on combination vaccines, including COVID-19 with RSV and flu with COVID-19, to provide convenience and full protection. * **Competitive Advantage**: Pfizer's competitive advantage lies in a combination of science, manufacturing, distribution, and brand reputation. 3. **Obesity Market and Danuglipron**: * **Obesity Market**: Pfizer expects the obesity market to reach over $100 billion, with oral products playing a significant role. * **Danuglipron**: Pfizer is awaiting data on danuglipron, which is expected to be competitive in terms of efficacy and safety compared to existing products. * **Modified Release Tablet**: Pfizer is working on a modified release tablet for danuglipron, which may be launched with a year's difference or simultaneously. * **Market Growth**: Pfizer believes the obesity market will grow due to increased utilization and the introduction of new products. 4. **Seagen Acquisition**: * **Oncology Focus**: Pfizer has created an Oncology group within its R&D organization to streamline oncology research and development. * **Seagen Integration**: Pfizer is committed to integrating Seagen successfully, ensuring the preservation of innovation and growth potential. * **Antitrust Approval**: Pfizer is confident in its antitrust approval process and is prepared to fight any challenges. 5. **Mergers and Acquisitions (M&A)**: * **Revenue Goal**: Pfizer aims to achieve $25 billion in revenue from M&A by 2030. * **Seagen Acquisition**: Pfizer is focused on closing the Seagen acquisition and integrating it successfully. * **Future M&A**: Pfizer remains interested in M&A opportunities in areas such as vaccines, oncology, primary care, and immunology, with a focus on adding value and achieving growth. 6. **Medicare Drug Price Negotiation**: * **Inflation Reduction Act**: Pfizer views the Inflation Reduction Act as a negative impact on the drug industry, as it imposes price controls and penalties. * **Legal Action**: Pfizer supports legal actions against the government's price negotiation policies, arguing that they are unconstitutional and harmful to innovation. 7. **Future Outlook**: * **Product Launches**: Pfizer is excited about the launch of 19 new products, which are expected to generate significant revenue and provide clarity on the company's non-COVID-19 business. * **Seagen Integration**: Pfizer is committed to integrating Seagen successfully and leveraging its oncology portfolio for growth. * **Vaccines**: Pfizer plans to maintain its leadership in vaccines and develop new combinations to address respiratory diseases. * **Pipeline**: Pfizer will continue to advance its pipeline across various therapeutic areas, aiming to remove uncertainty for investors and drive growth.

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W. P. Carey Inc. (NYSE:WPC) Strategic Plan to Exit Office Conference Call September 21, 2023 8:30 AM ET Company Participants Peter Sands - Head, IR Jason Fox - CEO Toni Sanzone - CFO Brooks Gordon - Head, Asset Management Conference Call Participants RJ Milligan - Raymond James Nick Joseph - Citi Jim Kammert - Evercore ISI Eric Borden - BMO Capital Markets Mitchell Germain - JMP Securities Anthony Paolone - JPMorgan Operator Hello, and welcome to this call hosted by W. P. Carey to discuss this morning's ann ...