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On the most recent quarterly conference call, management is quite clear they intend to run even, or at zero earnings for the next two years. The intention is to plow back what would have been earnings from the existing platforms into new research, technology and scientist resources. The goal is to drive to products that are more downstream in the pharmaceutical development process where higher value lies.

This strategy leaves existing shareholders needing to focus on the longterm since earnings growth rates will shrink in comparison to this past year. I hope the management is deft at marketing the new potential products under development, since that is what will be financed by what would have been earnings.

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