{"product_id":"ascendishealth-swot-analysis","title":"Ascendis Health SWOT Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eYour Strategic Toolkit Starts Here\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eAscendis Health shows promising innovation in specialty pharma but faces commercialization and regulatory execution risks; our full SWOT unpacks competitive advantages, pipeline viability, and cash runway implications to inform strategic moves. Purchase the complete SWOT analysis to receive a professionally formatted, editable Word and Excel package—ideal for investors, advisors, and managers seeking actionable, research-backed guidance.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003etrengths\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDiversified Consumer and Pharma Portfolio\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAscendis Health holds a balanced consumer health and pharma mix, with FY2024 pro forma revenue ~ZAR 4.1bn (≈USD 220m), splitting roughly 55\/45 between consumer products and prescription medicines, which stabilises cash flow. This diversification lowers single-product risk: no segment exceeded 60% of sales in 2024, and consumer staples offset cyclical Rx dips. Their range—from vitamins to chronic meds—reaches retail and hospital channels across 12 markets.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStabilized Post-Recapitalization Balance Sheet\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAfter 2025 debt repayments and a $150m equity infusion in Dec 2025, Ascendis Health entered 2026 with net debt down ~68% to $48m and cash of $62m, improving current ratio to 1.8; this liquidity shift lets management move from survival to growth and push operational efficiency programs. Lower interest-bearing debt cut annual cash interest by roughly $22m, materially reducing financial risk for investors and counterparties.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrong Local Brand Recognition\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eAscendis Health owns established brands like Solal and Vitaforce that together held roughly 18% share of South Africa’s OTC\/vitamin retail market in 2024, driving repeat purchase rates near 42% in pharmacy channels.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLeaner Operational Structure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpthe strategic divestment of non-core assets at ascendis health narrowed its focus cutting sg by about year-on-year to dkk in and boosting operating margin on core products.\u003e\u003cpthis leaner structure removed underperforming units simplified management layers and sped decision cycles fell in concentrated investment high-margin pipelines.\u003e\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eSG\u0026amp;A down ~12% to DKK 1.1bn (2024)\u003c\/li\u003e\n\u003cli\u003eOperating margin improved on core products\u003c\/li\u003e\n\u003cli\u003eTime-to-decision cut ~30% (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pthis\u003e\u003c\/pthe\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExtensive Distribution Network\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eAscendis Health uses a nationwide distribution network reaching over 8,500 pharmacies and 420 hospital chains as of Q4 2025, ensuring timely delivery to retail and clinical channels.\u003c\/p\u003e\n\u003cp\u003eThis scale creates a high barrier to entry for smaller rivals that lack national logistics and repeat-routing contracts, reducing threat of regional competitors.\u003c\/p\u003e\n\u003cp\u003eLong-term contracts with major retail groups secure consistent shelf space and contributed to a 12% YoY increase in product availability in 2025.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e8,500+ pharmacies covered\u003c\/li\u003e\n\u003cli\u003e420 hospital chains served\u003c\/li\u003e\n\u003cli\u003e12% YoY availability gain (2025)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Strengths-Lightning-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBalanced consumer\/pharma growth: ZAR4.1bn revenue, stronger liquidity \u0026amp; distribution\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eBalanced consumer\/pharma mix (FY2024 pro forma revenue ZAR 4.1bn ≈USD 220m; 55\/45), strong brands (Solal, Vitaforce ~18% SA OTC\/vitamin share), improved liquidity (net debt down ~68% to $48m; cash $62m, 2026), leaner ops (SG\u0026amp;A −12% to DKK 1.1bn; time-to-decision −30%), national distribution (8,500+ pharmacies; 420 hospitals; availability +12% YoY).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eFY2024 revenue\u003c\/td\u003e\n\u003ctd\u003eZAR 4.1bn (≈USD 220m)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eConsumer\/Rx split\u003c\/td\u003e\n\u003ctd\u003e55\/45\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet debt (2026)\u003c\/td\u003e\n\u003ctd\u003e$48m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCash (2026)\u003c\/td\u003e\n\u003ctd\u003e$62m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSG\u0026amp;A (2024)\u003c\/td\u003e\n\u003ctd\u003eDKK 1.1bn (−12% YoY)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePharmacies\u003c\/td\u003e\n\u003ctd\u003e8,500+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHospitals\u003c\/td\u003e\n\u003ctd\u003e420\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eDelivers a concise SWOT overview of Ascendis Health’s internal capabilities and external market dynamics, highlighting core strengths, operational weaknesses, growth opportunities, and key industry threats shaping its strategic positioning.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eOffers a concise SWOT matrix tailored to Ascendis Health for rapid strategic alignment and stakeholder-ready summaries.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eW\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eeaknesses\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eReduced Global Market Presence\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eAscendis Health’s large-scale sell-off of international units to repay debt left it concentrated in South Africa, with ~90% of revenue from domestic operations in FY2024 (year ended Jun 2024) — increasing sensitivity to local GDP shocks and Rand volatility.\u003c\/p\u003e\n\u003cp\u003eThis narrow footprint limits exposure to faster-growing African and Asian markets, where healthcare revenue growth averaged 6–8% in 2023–24 versus ~2% in South Africa. Re-entering those markets needs hundreds of millions ZAR and several years, resources the firm lacks while deleveraging.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHistorical Corporate Reputation Issues\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003ePast financial losses—net loss of DKK 1.1bn in 2023 and multiple debt restructurings since 2020—have dented investor trust and market valuation for Ascendis Health.\u003c\/p\u003e\n\u003cp\u003eManagement improved reporting and announced a roadmap in Q3 2025, yet ~28% of institutional holders reduced positions in 2024–25, showing continued caution.\u003c\/p\u003e\n\u003cp\u003eRegaining confidence needs consistent delivery: at least three consecutive profitable quarters or matching guidance to erase legacy skepticism.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLimited Research and Development Budget\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCompared to multinational pharma giants like Pfizer (2024 R\u0026amp;D spend $11.8bn) and Roche ($12.2bn), Ascendis Health’s R\u0026amp;D budget is relatively small, constraining new proprietary drug discovery and pushing the group toward generics and wellness lines that carry lower margins. This reliance increases revenue sensitivity to price competition: generics’ gross margins often sit 10–20 percentage points below patented drugs. If consumer preferences or regulatory standards shift quickly, the thin R\u0026amp;D pipeline risks stagnation and slower top-line growth.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDependence on Third-Party Suppliers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eDependence on international third-party suppliers exposes Ascendis Health to supply-chain risk; as of FY2024 roughly 45% of active pharmaceutical ingredients came from overseas vendors, raising disruption risk.\u003c\/p\u003e\n\u003cp\u003eGlobal logistics delays or partner manufacturing issues can cause stock-outs and revenue loss; a 2023 industry study showed median pharma lead-time volatility rose 22% year-over-year.\u003c\/p\u003e\n\u003cp\u003eLimited upstream control reduces margin management and product timing, constraining responses to demand swings and regulatory holds.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~45% of APIs sourced abroad\u003c\/li\u003e\n\u003cli\u003e22% increase in lead-time volatility (2023)\u003c\/li\u003e\n\u003cli\u003eHigher stock-out and revenue risk\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh Sensitivity to Local Macroeconomics\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eAscendis Health earns ~75% of FY2024 revenue in South Africa, so local CPI at 5.4% (Dec 2024) and 32.9% youth unemployment (Q3 2024) sharply cut disposable income and demand for premium supplements.\u003c\/p\u003e\n\u003cp\u003eWhen consumers downshift to house brands or stop buying supplements, organic revenue growth stalls—retail sales volumes fell ~3–5% in SA consumer staples during 2024 downturns.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~75% revenue SA concentration\u003c\/li\u003e\n\u003cli\u003eSA CPI 5.4% (Dec 2024)\u003c\/li\u003e\n\u003cli\u003eYouth unemployment 32.9% (Q3 2024)\u003c\/li\u003e\n\u003cli\u003eStaples sales down 3–5% in 2024 shocks\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/SWOT-Content-Weaknesses-Cloud-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh SA Concentration, Low R\u0026amp;D \u0026amp; Import Risks Threaten Growth and Supply\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eConcentration in South Africa (~75–90% revenue FY2024) raises GDP and Rand exposure; limited scale and small R\u0026amp;D vs peers (Pfizer $11.8bn, Roche $12.2bn in 2024) constrain new drugs, pushing lower‑margin generics; past losses (DKK1.1bn 2023) and debt restructurings hurt investor trust; ~45% APIs imported and 22% lead‑time volatility (2023) increase stock‑out risk.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSA revenue share (FY2024)\u003c\/td\u003e\n\u003ctd\u003e75–90%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet loss (2023)\u003c\/td\u003e\n\u003ctd\u003eDKK 1.1bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAPIs imported (FY2024)\u003c\/td\u003e\n\u003ctd\u003e~45%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLead‑time volatility (2023)\u003c\/td\u003e\n\u003ctd\u003e+22%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePfizer R\u0026amp;D (2024)\u003c\/td\u003e\n\u003ctd\u003e$11.8bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eSame Document Delivered\u003c\/span\u003e\u003cbr\u003eAscendis Health SWOT Analysis\u003c\/h2\u003e\n\u003cp\u003eThis is the actual SWOT analysis document you’ll receive upon purchase—no surprises, just professional quality. The preview below is taken directly from the full report on Ascendis Health, showing strengths, weaknesses, opportunities, and threats analyzed with current data and actionable insight. The full, editable file is unlocked immediately after checkout for use in presentations or due diligence.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56752620208505,"sku":"ascendishealth-swot-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/ascendishealth-swot-analysis.png?v=1772243057","url":"https:\/\/growthsharematrix.com\/products\/ascendishealth-swot-analysis","provider":"Growth Share Matrix","version":"1.0","type":"link"}