Yep. It all depends on relativities.....relativities that we...

Yep. It all depends on relativities.....relativities that we know very little about.

I am inclined to believe, however, that production costs are heavier than SG&A. Which if true, provides scope for the investment in yield improvement to have a meaningful impact on profitability. That's the base case.

The upside story is that GSK/Apotex are disincentivised to compete meaning that rebates etc decline and Reddy's enjoy a window of enhanced profits until competition comes back in another form.....that's the upside, not the sure-side.

ST sell on negative sentiment (but I think we're still a LT buy). I want to add to my holdings, but think I'll be able to accumulate at lower prices?