Drans,you are clearly a fan of old management and imo rightly so as everything that has come to fruition since their exit was most likely instigated by them only to be born following the long gestation period which is the norm in this sector.
From that comment you can conclude that I do not share northwards stated view of old management.
However it is irrelevant, IOV has moved on and it is indisputable that new management have a big advantage over old in that they have the support of the institutional shareholders which is essential.As a result they will be given time to deliver.
I do not share your view re R&D as historically ML outsourced all Pharma Research.Indeed the only Research carried out in house related to gene therapy as a result of the retention of the R team they inherited when they acquired Cobra.
Therefore the potential to create new products remains albeit that they are more likely to result from corporate transactions.
This is illustrated by the acqn of Q which has a first class team of formulation scientists who are more than capable of creating what are effectively new respiratory products which is where IOV's current focus lies.
As for the cost of downsizing I feel sure this will have already been fully provided for.
With regard to the Baxter deal I have already given my opinion which appears to have been confirmed by steddieddie's post 1583.However I would add that if the upgrade by JP Morgan was as a result of that deal its potential is much greater than I envisaged which must surely feed through to the IOV share price.
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