You're really saying you're not seeing any serious SP appreciation due to CDY's own products in Japan, China etc? That's surprising Pharma, I thought you were optimistic. You're sidestepping the issue that the potential benefit to HGL is massively disproportionate to whatever BLC contributes in improved performance over the next year.
And by the way, which BLC products do you see selling on the CDY platform? It would be a grave mistake to start cluttering up the nice Evolis/Advangen platform with a bunch of ring-in products.
An Updated Valuation of CDY, page-107
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