In the main, overwhelmingly, the Chapter 11's have not been, and I strongly suspect will not be, 'departures'. They may withdraw from public markets (as did Padagis), and they may have restructures to satisfy creditors, but that's it.
That said, there is now reduced incentive for new entrants, and there has been reduced investment in capacity.
So yes, I agree that there is still a glimmer of hope for ACR. I could not see a sufficient case to put my money at risk. But I may be wrong.
My conclusion is that generics are a scale game (relatively low IP), failing some other cost advantage. So for a plankton like ACR to register, it really does need to walk the talk about it's differentiated strategy ('topicals').
But I'm less & less convinced by that narrative.
Add to My Watchlist
What is My Watchlist?
