Axiron was a big success - a success that I originally saw as sustaining the next round of development of new drugs - moving the company on to the "next curve" of sustained profits.
As we now know they did not get on with the job and frittered away years with no clear strategy.
By the time they got themselves together, Axiron was gone. The pot of cash they had from Axiron was insufficient to sustain the new generics strategy and Lenzetto was a failure.
The generics strategy has been too slow and the fact that they could not hit the ground running with commercialization another disaster.
It now seems that the market segments they chose were too small and now filled with competitors.
It now seems they did not have the commercialization ready to go.
This annual report was terrible and I have sold half my holdings, with the idea of revisiting in a year.
Here is why Dobinson must go and the CEO must be on notice.
Whether or not they made the best decisions at the time since Axiron nobody can know. Whether it was just bad luck nobody can know. However, it has been failure and bad news since Axiron reached its height. At some point you need to fall on your sword if you are not delivering - to see if new ideas can turn things around. WE have reached this point some time ago with ACR. Most of us that work in ordinary jobs can sustain one or two failures or mistakes but then if we don't turn it around - out we go. Our leaders must live by the same rules. This must happen now at ACR. Just too many set backs for too long. How many chances do they get to have?
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