When the market heads south (like today), I don't feel nervous...

When the market heads south (like today), I don't feel nervous about my ACL holdings at all. In fact, I almost hope that things get worse.

During the GFC, there wasn't even a blip in Arixtra sales growth. Anticoagulant treatment is the last thing people forgo if struggling financially.

Not only that, financial stress only serves to push people towards the cheaper generic option of a drug. If there's only one alternative, ACL wins again.

AND....if things get tough, the AUD$ goes down in value such that AUD earnings from sales in the US go up.

Win/win/win.

As long as they don't need to raise funds.