In some ways, IMS can be viewed as a royalty on the drug industry -- one of the fastest, most consistently growing of all industries.

Machine-to-machine communications is one of the fastest-growing sectors of the industry, and Wavecom’s products are recognised for their high quality and technology leadership. Wavecom also complements a number of our existing product ranges, including microsystems, semiconductors and RF products.

There is an inexorable drift toward consolidation in the drug industry.

They're the fastest team we've played.

We came in the huddle at the end of the third quarter. There is still one more quarter. Our seniors, juniors and sophomores didn't want it to be the end.

The most effective way to prevent the exploitation of our long-term shareholders is to charge an appropriate fee to short-term traders.