Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
With respect, read the document
Https://www.gsk.com/media/8976/haleon-prospectus.pdf
"...2.4 Litigation, disputes and regulatory investigations may materially and adversely affect
the Group’s business, financial condition, results of operations and prospects
The Group is, and may in the future be, subject to legal proceedings, disputes and regulatory
and governmental investigations in various contexts, including consumer fraud actions,
competitor and regulatory challenges to product and marketing claims, competition law
investigations, product liability and quality claims, human resources claims, contractual
disputes and other disputes or claims arising in the ordinary course of its business operations.
These legal actions, disputes and investigations may relate to aspects of the Group’s
businesses and operations that are specific to the Group, or that are common to companies
that operate in the Group’s markets, and this risk may be enhanced in circumstances where
the Group is operating in new markets. Legal actions and disputes may arise under contracts,
regulations or from a course of conduct taken by the Group, and may be class actions.
For example, in the USA, the Group is a defendant in ongoing proton pump inhibitor (“PPI”)
litigation, in which plaintiffs have alleged that their use of PPIs caused serious bodily injuries.
The Group has filed motions to dismiss several hundred cases, but the court has not yet ruled
on those motions. In addition, certain members of the GSK Group and the Pfizer Group are
party to proceedings relating to the detection of N-Nitroso-dimethylamine in Zantac (ranitidine)
products. Pursuant to the Pfizer SAPA, the Group has certain indemnification obligations to the
GSK Group and the Pfizer Group in respect of “Purchaser Liabilities” and “Assumed Liabilities”
(each as defined in the Pfizer SAPA), which may include liabilities related to OTC Zantac (see
paragraph 3.5 of Risk Factors below). Further, in 2013, GlaxoSmithKline Consumer Healthcare
GmbH & Co. KG and other members of a German trade mark association were fined by the
Federal Cartel Office of Germany, as a result of the exchange of certain information during
meetings from 2004 to 2006. Following the fine, the Group has become party to several civil
proceedings in Germany for follow-on damages. An adverse outcome in such proceedings (or
any other related proceedings) may have a material adverse effect on the Group’s business,
reputation, results of operations and financial condition.
Although the Group has developed and implemented a set of standards, controls, and policies
and procedures that are highly tailored to the specific requirements of the Group and the
regulatory regimes of the jurisdictions in which it operates, there is no guarantee that those
standards, controls, and policies and procedures will totally shield the Group from liability, and
the Group remains exposed to the risk of potential civil and/or criminal actions leading to
damages, fines and sanctions...*
The risks of a liability in Canada on this very issue is flagged
up in the listing prospectus.
Right, so now we know.
So Haleon appear to have liability for OTC Zantac that
contains ranitidine as per the Canada.
I do not have information on how many other
countries OTC Zantac with that active ingredient
is available in.
Needs a statement from the company but can now
understand the fall and it was not an Elliott exit -
got this one wrong.
Elliott exit or stake reduction imho.
Added a small amount more before the close.
I'm back in & 2.85 and '87.
..
Unless I missed it.
As mentioned here a couple of times previously,
It can pay to be wary of uber bullish posters -
as we arguably saw here.
China now bulk buying, further reducing margins.
Are sector margins sustainable in orthopaedics?, is what the
market may be questioning.
John, these brands have existed for decades and in recessions
and better times. I get your general point but if you look
at the recent RKT or ULVR price action, the market appear to
be taking a more positive view of consumer goods stocks.
Are you guys on this planet - Starbucks is valued at over $90 bn.
Try doing even 1 minutes worth of research.
Look at the fall in cash generation..
However, it's the margin outlook that
the market appears not to like
of your calls on SN. ?, given the price at the time of this post
is Under £10.80 at the time of this post..
All those Buys you gave this ...
....
As mentioned here previously ...it might be wise to ignore
uber bullish posters on SN.
n/m
From memory, approx 12 months ago consensus had
JDW making approx £50 - £55 million on pre tax for
this financial year.
The SP decline needs to be viewed in this context fwiw.
Just reading some of the posts I wonder if people realise
what the market took fright at (rightly or wrongly)...
JDW appeared to guide towards a break even FY result on their
May update?, fast forward to yesterday and the story is different.
Lots of anecdotal reports of ..this pub is packed etc,
means SFA unless they are turning a profit.
Added on Wednesday.
That was a while back on Youngs,
I'm looking at their recent FY report on a pre tax basis.