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I found this stock and mentioned it on the Hidden Gems board... my post was met with skepticism (justifiable). My basic point is one that you are focusing on here.. operational cash flow is strong, and its currently sitting at 8x earnings and 7x free cash. Seems like this is what I call a "kitchen sink thrown in" valuation.

Others on the board took the "been there done that" approach, as its been cheap for a while, and with its issues (bloated inventories, missing EPS targets consistently, slower than expected growth from key franchises, overhanging SEC investigation (although small), etc its just not attractive.

My take is its worth a shot at these levels. Barring an earnings disaster, I can't imagine the market taking this down any further. I would suspect that most of the downside risk is removed. My experience has also shown me that one good result from a drug, internal or licensed makes many perceived problems go away.

How are others thinking about this?
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