seriously a laugh from the outset!!!: "Last year’s FDA...

seriously a laugh from the outset!!!:

"Last year’s FDA announcements relating to testosterone use and the recent US District Court decision on Axiron® patents graphically illustrated the risks associated with reliance on a single revenue stream in the pharmaceutical industry."

blatantly obvious for some years and has been brought up many times on forum before but not previously heeded. Let's face it for highly paid execs maybe action should have been taken earlier - but then again things were looking rosy then!!!! pipeline should have been moving long ago!! all IMO.

in addition all the financial stuff on the third page looks good - WOW financial reserves increased BUT I SEE that the lack of payment of a dividend may have contributed to that (lots of contented SH's) - the lack of dividend further decreasing SP and interest in this stock - all IMO so DYOR.

Remuneration policy
The main principles of the Company’s remuneration policy are:

• remuneration is set at levels intended to attract and retain good performers and to motivate and reward them to continually advance the business of the Company;
• remuneration is structured to reward employees both for superior performance and for increasing long term shareholder value;

and

• rewards are linked to the achievement of business objectives as set by the Board.

well i guess that increasing SH value allows the decent performance bonuses to staff. Bit of clarity needed here - what do you mean by "long term SH value?????" - that's open for discussion - is it a 10 year plan, 15 year plan, 5 year plan - what is meant by long term???? who determines that - the management or an independent body??.

other stuff there that I can't be bothered going in to as they just don't listen!!

but at least they have awoken to the fact that a one trick pony has no longevity in the pharma market. wonder if they believe their own spin on things?

really hope that one of the largest SH's votes against remuneration package - can't understand why they won't take a greater stage here given what has transpired - and lets face it we want the SP to increase short-medium term not this undefined "long term" that's stated in the annual report.

all IMO so DYOR and form own opinions.
would like to hear other SH's or non-holders views on the annual report.