We are big enough at this stage to grow our business strongly. I am not ruling out what you may describe as bolt-on acquisitions -- what I am ruling out is a significant merger or anything like that.
The typical review time in this division, the period to approval, is something like two years.
It's true that it has taken a little bit longer than we expected but that kind of thing happens with regulatory authorities -- nothing unusual in that.
We have no strategic need to be bigger -- none at all. So there is no reason to engage in major M&A activity.
I'm not at all frightened, ... We are big enough now -- we now have the scale from this merger to compete.
We will have 14 new candidate drugs in development this year, so that's a really excellent performance.
The profile [of the drug] looks tremendous.
We will fight in the courts, ... We will argue very strongly that unless a generic manufacturer has discovered its own way that is free of our patents of formulating the product, that they're in breach of our patents. We think we have a good chance of winning.
The history of this division, partly because of the devices element, is that reviews and approvals tend to be very slow, so we made realistic to conservative assumptions on what the review period should be.
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