Fundamentals Are Strong, page-45

From memory, Hikma's 2016 ratio dropped because of the one-off transaction costs in the Roxane Labs acquisition. I'll have to revisit to be sure but I remember I wasn't too concerned about it.

But yea, most of what we've discussed so far has been Mayne's history. Maybe the Teva acquisition will a game changer and bring to fruition all those years of investment. But that's too speculative, and I know, I am speculating on a couple of stocks myself so that's a bit rich.

Just that when I go into Mayne, I was expecting an old and boring generic pharma doing well. Nothing exciting, no new miracle drugs in the pipeline. Just buying some intangibles, turn out drugs by the tonnes and making a killing

I see that in SRX and HIK, not in MYX.

Take SRX... it has a very high profit margin, high ROE and ROC... hasn't diluted sharheolder's ownership [not by much I don't think]... and all these when its current products has only penetrated 2 to 3% of the existing market. Buying on that basis alone make SRX a very reasonably priced company at its current level... and you get all that quality with a real promise of just signing up more hospital for the same old drugs it's selling as well as the potentials from its recent studies and ongoing R&D.

As to Hikma being a generic with some branded drugs. I like what I see there and bought when it was at 20 pound. It's now at high 13 to 14 and I bought a bit more. [I bought for a family member, not myself, if that make a difference?].

Worth digging further into the Teva acquisition though. So will try to do that.