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ELN » Topics » The current economic and financial crisis may have a material adverse effect on our results.This excerpt taken from the ELN 6-K filed Mar 30, 2009. The
current economic and financial crisis may have a material
adverse effect on our results.
Many of the world’s largest economies and financial
institutions currently face extreme financial difficulty,
including a decline in asset prices, liquidity problems and
limited availability of credit. It is uncertain how long this
crisis will last, but many countries are concerned that their
economies have entered or may enter a deep and prolonged
recession. Such difficult economic times may have a material
adverse effect on our revenues, results of operations, financial
condition and ability to raise capital. The current economic and
financial crisis appears to be affecting all of the major
markets in which we operate. As a result, there is a risk that
consumers may cut back on prescription drugs to help cope with
hard economic times.
The financial crisis has resulted, and may continue to result in
losses and, in a lower return on our investments and a lower
value on some of our assets. The financial crisis could also
negatively impact the cost of financing or our ability to obtain
finance on favourable terms, or at all. The impact of the
current financial crisis on our future access to various types
of capital, and the cost of that capital, is not currently
predictable.
At the same time, significant changes and volatility in the
consumer environment, the equity and credit markets, and in the
competitive landscape make it increasingly difficult for us to
predict our future. As a result, any guidance or outlook we have
given or might have given may be overtaken by events, or may
otherwise turn out to be inaccurate. Though we endeavour to give
reasonable estimates of future results at the time we give such
guidance, under current market conditions there is a significant
risk that such guidance or outlook will turn out to be, or to
have been, incorrect.
This excerpt taken from the ELN 20-F filed Feb 26, 2009. The
current economic and financial crisis may have a material
adverse effect on our results.
Many of the world’s largest economies and financial
institutions currently face extreme financial difficulty,
including a decline in asset prices, liquidity problems and
limited availability of credit. It is uncertain how long this
crisis will last, but many countries are concerned that their
economies have entered or may enter a deep and prolonged
recession. Such difficult economic times may have a material
adverse effect on our revenues, results of operations, financial
condition and ability to raise capital. The current economic and
financial crisis appears to be affecting all of the major
markets in which we operate. As a result, there is a risk that
consumers may cut back on prescription drugs to help cope with
hard economic times.
The financial crisis has resulted, and may continue to result in
losses and, in a lower return on our investments and a lower
value on some of our assets. The financial crisis could also
negatively impact the cost of financing or our ability to obtain
finance on favorable terms, or at all. The impact of the current
financial crisis on our future access to various types of
capital, and the cost of that capital, is not currently
predictable.
At the same time, significant changes and volatility in the
consumer environment, the equity and credit markets, and in the
competitive landscape make it increasingly difficult for us to
predict our future. As a result, any guidance or outlook we have
given or might give may be overtaken by events, or may otherwise
turn out to be inaccurate. Though we endeavor to give reasonable
estimates of future results at the time we give such guidance,
under current market conditions there is a significant risk that
such guidance or outlook will turn out to be, or to have been,
incorrect.
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