notes from the agm

Thought I'd share a few observations from today's meeting for anyone interested.. Fonda...hospital sales currently 6%. There were many contracts hastily put in place when FDA approved our Fonda by GSK. I got the impression that the 12mth contracts are about to expire, Dr Reddys expectation is that their slice will quickly gallop to 50% and end up with a similar size volume with retail. This quarter to see a decrease in cogs due to production improvements and coupled with with an increased hospital market, will see a significant larger cheque in the coming quarters. Italy, Germany and France are the main EU markets. EU Approval is expected late 2013 with sales to commence immediately after. Japan from 2015, China also on the radar. The Yehudi post re the expected revenue is accurate, not withstanding any unforseeable events. Audeo ....Mel Bridges said he spoke with some US bankers yesterday. He was full of confidence that the IPO is all go. Nerilee also appeared full of confidence in a chat after the meeting. Didn't get one negative vibe, reading between the lines. Tracey Brown gave an excellent presentation on the progression of the trials. All going to plan. They expect to have the outcome by 2013 year end. Fingers crossed FDA approval soon after, could run into 2015. Mel mentioned a partnering arrangement is a real possibility , maybe late 2013. SCLC...this is progressing well with I think a total of 80 patients as the target, with a minimum of costs to ACL. VAST was not really mentioned , but 2 of the boys arrived back from London this morning .....they were there having talks with "big "pharmas. They mentioned it's not all about Audeo and Fonda! So there you have it, all in all a good positive meeting....I got the feeling there could be some great moves and a lot of hard work going on behind the scenes. And as far as the 2 million share of Fonda goes,I got the impression that was about what was expected. I tried to get a forecast for this Qtr, couldn't , but left the meeting confident. Will not be selling I share in the foreseeable future. IMO all good!