Is MYX a bargain, page-1553

"Well imagine the audacity of someone having ago at FH FAULDING ex staff being part of a badculture at MP. Don’t discount the Culture of Faulding!! Are you Serious ???"

Yes Patrick, I was there during the 1980s and 90s before it was broken up and I am serious about defending the culture at that point in time! You know and I know that what it was like back then is largely irrelevant to Mayne Pharma today....too much water under the bridge since then but for anyone to have a go and blame "Faulding Culture" as being an issue is pretty naive in itself. Yes Scott was there for some of that time and I hope some of the good stuff rubbed off..........but since then there have been other influences and importantly as you would like, he has around him in various divisions, key people of US stock and local pharmaceutical industry experience. I would however agree with you and like to see more US pharma experience on the board.

It is a tough game in the USA and I have been around long enough to have seen more pharmaceutical companies come and go (usually the strong taking over the weak) than I care to remember. Most branded products have limited life spans in the market and you can spend bucket loads looking for the next big one and never find it. The generic drug industry is even more "cut throat" with a race to develop and gain exclusivity and build a good portfolio, distribution/market share.

Of course you require good management with vision that covers 360 degrees of the operating environment including changing government policy at the regulatory level, healthcare, commerce, justice, trade etc etc. Keeping abreast of what is transpiring external to the company is far more important than periodic disclosures from the company itself. It nice hearing words like transparency, good communication and respect for shareholders but that is pretty naive too in the whole scheme of things. Commercial confidentiality (particularly in pharmaceuticals, technology etc) limits company officers to telling nothing other that what amounts to obligatory reporting (good or bad) so I don't know what more you would expect. If you want serious companies to "beat up" news like many of the junior miners do, then you're investing in the wrong sector.

I have been an investor in Mayne Pharma (in and out several times so it's nothing about loyalty) almost from listing and done pretty well. I have fortunately recognised head winds ahead of time. I have only just taken up a position again.

Sorry if there is too much "sucking eggs" stuff in what I have said.