Ann: CELLMID QUARTERLY OPERATIONAL UPDATE, page-31

Hi Dentie,
I think that the launch into the States was possibly the result of not getting Chinese approval in time and actually turned out to be about a year late.
Cellmid had to do something to move ahead not knowing if and when they would get approval in China.
IMHO the plan of Japan, China, US in that order, if thats correct, got well and truly stymied by no approvals.
Even though they applied well in advance of expiry date for their original licences they were left on the back foot.
Im left wondering how much further ahead we would be if there had been a smooth continuation of licences in China
I really think this is the reason for the current "value challenged " Share Price.
The first two quarters after QVC China gets on board should give us a bit of an indication of how far down the track we should have been a year ago.
Cheers
Pharma