I am not sure that the CXS takeover is a material consideration...

I am not sure that the CXS takeover is a material consideration in minds of the strategists at Valeant and therefore I am confident that the Cephalon takoever of CXS will proceed and that a SP of 70 cents is the current valuation.

I, like so many others, bought this stock because I believed in the product and in the management.

It will be a sad day when I cease to own a holding as it is likely I will not see the product reach its potential as a shareholder ( hmmm...might need to buy Cephalon shares ? )...so the belief in the product remains but belief in management fell away after the inept FDA application and utterly when I saw the last set of accounts.

I will probably emerge with a modest financial gain but I wanted to be part of something much bigger.

...back to the drawing board...