2012 half year result, page-2

I think we will see that the first quarter of 2012 has been pretty tough for all wholesalers as pharmacies kept inventories down prior to the April PBS changes. So althoght API will report a significant return to profitability don't expect great results.....that will be next year!

The ending of Pfizers Lipitor patent and the introduction of generic competitors may actually be a benefit to the full line wholesalers...particually when the full range of Lipitor generics come on line (Rambaxy have exclusivity for 6 months).

From what I believe one of the key ideas behind Pfizers direct distribution model was to lock in pharmacies to deals with their own generic.....guess what I think it hasn't worked because the majority of pharmacist's want to let Pfizer know they actually support the full line wholesaler system that has served them so well!

Probably (as recently presented in other threads) there has never been a better time to look at the value proposition that API presents at the moment from a longer term perspective.......I am talking a stock to hold as a future dividend earner. Although we have seen some tough times recently and unsettling PBS changes the one constant that assures API (and Sigma's) future is our growing aging population...simple!