Write-down had to happen, and i believe the market has already priced it in. The generics have been smashed and there is no chance of recovery (in the short to medium term) with the increased competition.
Gross profit margins have increased from FY18 driven by the specialties at (87%). The diversification of the product lines was a great move. The company has worn the pain of the market changing, accepted the write downs and losses and now has a much better base to drive from.
Free cash flow is still solid, interest coverage and leverage has improved I think overall I'm pretty optimistic about the future. I'd be happy adding more to my position on any weakness from here. Of course for those who have bought well above the 50 cent mark this report will not ease any pain, but as a new holder I'm very happy about my position.
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