I have to say i don't agree with that characterisation of MCK - their own mid term targets are for 6-8% operating profit growth. Is there any reason you think they will grow more like 3-5%?
Part of why i like it is that i think the business mix has shifted towards specialty which is a structurally higher growth category than generics which used to make up the bulk of operating profits. Of course they don't disclose this exactly ... why potentially creates the opportunity!
I have to say i don't agree with that characterisation of MCK - their own mid term targets are for 6-8% operating profit growth. Is there any reason you think they will grow more like 3-5%?
Part of why i like it is that i think the business mix has shifted towards specialty which is a structurally higher growth category than generics which used to make up the bulk of operating profits. Of course they don't disclose this exactly ... why potentially creates the opportunity!