Write downs

In 2018 there was a $184.4 million write down, along with $79.5 million in amortization. In 2017 there was a 20.2 million impairment with a 73.3 million amortization. The company paid $884 million for TEVA's portfolio. Sales were down 10% in first half 2019. One drug in particular was down 73%. And, the company is carrying intangible assets of $1178 million. They've also been hiding write-downs in the "administration and other expenses" column - which was $94.6 million last report.

We know the results are going to be hideous because the company used confession season to announce "substantial writedowns". I'm expecting a write down of 500 million. If you look at the financial statements, if you exclude intangibles, the company's assets are roughly $830 million and liabilities are roughly $715 million, for a net tangible assets of $115 million, less any loss that will be reported in August.

Long term, drugs are where the money is, but tbh I'm tempted to sell and rebuy at 35 cents.

Charts no doubt will tell us that there is an double-bottomed-ocean-going resistance line that tells me I'm crazy.