Technicals, page-2

The charts would be really good.

I have done much cursing over the last months about the company and its lacklustre management. It recently lost most of the patent protection for its flagship product Axiron. There is an appeal but there is little hope in my view.

Having said that Axiron brings in quite a lot of money in royalty income. There is no easy way to predict the impact of the patent loss on these revenues, except to say it wont be good. Management has some new products but history says that their development will be slow and will face competitive pressures. The idea of dispensing drugs via the skin is a good one, however.

Its a risky stock which is much more fairly valued now that the price has hugely fallen. Who knows from here.