Yes, for those who were unable to listen to the conference call, Elsa mentioned that they were exploring using their large cash holdings for new investment opportunities. She initially declined to provide much detail, but when pressed during the question and answer period, she actually gave quite a bit more details.
Basically, she summarized the expansion plans into two categories: purchasing additional drugs or drug companies; and expanding into the pharmacy management business. She explained that if they pursue the latter, it "would not be mom and pop size pharmacies but instead would be large pharmacy operations" (which I took to mean either large pharmacies in big cities or perhaps pharmacy chains).
The person asking the questions then asked "What do you think would be the likelihood that by the end of FY2010, you would do both of those things, one of those things, or none of those things?" and Elsa's answer was, "There is ZERO per cent chance that by June, 2010 we will do NONE of those things and greater than 50% chance that we will do both", meaning investing in more drugs for production AND investing in pharmacies. She also added that anything they do would very likely be accretive to FY 2010 results, and that their current guidance excludes the results of any expansion.
I have just sent her an e-mail asking some additional questions and will pass along those questions and her answers if she replies.
Eric
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