security trading policy, page-48

Not sure what you mean. BTC must suffer the same but consider this.

It is proven the ASX won't support biotech any longer. ACL is a case in point amongst many.

Compared to peers ACL is grossly undervalued which is oft observed on this thread with a corresponding conclusion ACL is a must have. Promising obscene wealth to holders in the near future. Which says the market function of efficient price seeking behaviour is wrong in its outcome.

If that is the case, the only way this can happen is through a takeover, full or partial, on-market or PIPE or a NASDAQ listing to harness market utility there to become equal with peers. Any choice of the above would have to suddenly re-rate the stock for the pundits to be right.

Roche CEO says generics are due to be consolidated. ACL is a takeover target because of this and where they are at. This is confirmed with a few of the pump jockies on this thread making and wishing for the same observation.

In all of my time I have never seen an acquirer company wanting to pay silly over the top crazy money for an acquire-ee target in order to line the pockets of their shareholders. Should the target company clam up and ask for a silly price or refuse to co-operate the acquirer usually goes elsewhere. In this space, generics, there are plenty of other more ameniable companies to go to get the same thing. Market access is key which means the whip belongs to GSK and DRL.

Therefore it is only logical to assume ACL will be bought out by either DRL or GSK for some premium that guarantees success. But the final arbiter in what happens is Orbis. So the key questions are, what is it Orbis thinks? What is it Orbis wants?

I take my cue from the leaders. Bill Gates is strong on turbo-charged monoclonal antibodies with his SGEN holding and just yesterday a leading US analyst came out and said DNDN is a must have for next year, putting a value of US$60+ on it. Roche CEO says novel niche operators with innovative products and innovators will be where its at.

Which to me says m-cabs and immuno's are the cancer stocks to have. Not generics.

If ACL are into either of these then it is this part of ACL which punters should be looking to for value.