A good assessment. I think the generic strategy can definitely...

A good assessment.

I think the generic strategy can definitely still work. That ship has not sailed yet. As I have previously and recently stated I originally thought it was a ripping idea.

Its my level of confidence that is wavering due to the following

1. Can we trust that their original assessment of the market was well done. All we got was a high level "mud map" of the potential but my question is whether a rigorous assessment was done behind the scenes?

2. Has the glacial pace of development and approval changed the assumptions for the original assessment. In other words has any opportunity found in the assessment already been exploited by more nimble companies?

3. We have not seen any estimates of how long it might take for market share to be acquired for each of the medications. Is it months, years or even decades?

So my conclusion is that it make sense that the market is pricing the company as it does. After all there is significant uncertainty as we don't yet even have products in the market. And we will be one of many in the market - its not an untapped space were people are crying out for a solution. These are generic medications after all.

Food for thought.