I think the PDF status is largely a distraction, though it could...

I think the PDF status is largely a distraction, though it could turn out to be a boon to some investors. As with MIS schemes, it's a bad idea to worry too much about tax-minimisation at the expensive of fundamentals.

I prefer Acrux to some of its peers because of the length and breadth of its product pipeline. Arguably Testosterone MD-Lotion puts it in a similar position to Chemgenex or Peplin - with an unpartnered product in Phase III trials - but on top of that there's the Evamist/Ellavie and animal health products, which should provide a reasonable royalty stream even if Evamist sales are a little slow, and the huge pipeline of other products.