The longer we hear nothing from SIP about Aspen's scabby offer the greater the chances they are talking to someone else imo.
Someone mentioned Watsonsy'day. Maybe SIP is too much of a headache for them and the market is too tight...but here is what their CEO had to say at their quarterly recently. They would be aware that there are $2.5 billion p.a worth of PBS drugs coming off patent in the next five years in Australia (and most of that figure in 2012 ). Generics is Watsons main game and they manufacture out of India:
Paul M. Bisaro - President and CEO: Well, Michael, as we?ve been saying, we will continue to look for opportunistic acquisitions to fill out our international footprint. And given the balance sheet we have now, we certainly have the flexibility to do that. Of course, it?s opportunistic, so if something comes up we will of course jump on it. But if not, what we will continue to do is pay off probably the remaining portion of the revolver that gives us a free $500 million of revolver capability. And we?ll continue to grow cash until we need to pay-off the remaining sections of the debt. I think the debt sort of works out as payment in '11, '12 and then we have the notes five year?s out. So, we're in very good shape to be able to take advantage of whatever presents itself Michael.
SIP Price at posting:
45.5¢ Sentiment: Hold Disclosure: Held
