Unless you sell the company to someone who doesn't get it - doesn't understand what you've built - you have something that can last a very long time.
"Endo International Plc ENDP.O has discussed a sale of Paladin Labs Inc, its Montreal-based specialty pharmaceutical subsidiary, to Canadian drug maker Knight Therapeutics Inc GUD.TO, people familiar with the matter..." As we now know, that sale back to GUD never happened, nor would it ever. Why would I say that? The old ENDO CEO would never let it go for cheap - and - Goodman would never over-pay for it. A deal just wasn't going to happen.
Therefore, Endo's old CEO did what came naturally to him - divested of bits and pieces and the new ENDO CEO was left holding the remains after the entrails had been carved out.
That leaves GUD lightyears ahead of any potential competitor that decides to chase ROW in at any meaningful way and with this reach. Eventually, GUD will extend the reach further but not until the right deal comes along. Doubt they've even started looking yet.
Goodman is the only CEO with the clout (that I know of) who could do it again and this time - in a more convincing way.
“People often ask me, why did I not retire? I did not even take the day off!” Pharma Boardroom - Sept 25, 2017
Why didn't he retire? He loves pharma. He loves the idea of helping people while making good money at the same time.
Goodman will tell you that his contribution to Knight is mostly his ability to raise money. It takes a wise man to see what he has to offer and he builds the team to take care of the rest. This he he did ... one more time.
So, why did he sell Paladin? Let's have a look at his thinking at that time. This is where his ethics stood out for me. That's why it's hard for me to listen to chatter about GUD only being entertainment for Goodman - or - his personal sandbox ... simply not the case.
"Paladin was my baby. I did not want to sell it, but it was a public company; my family only owned 34 percent of it. My fiduciary duty is to all the shareholders, regardless of my personal interests. The offer made to us was so juicy that it would have been irresponsible of me not to sell it." Pharma Boardroom - Sept 25, 2017
And after selling - got right back on the horse (bike) again !!!
"I only know how to do one thing in life: sell drugs, make people better and make money in the process. This is what provides meaning to me and a reason to wake up energized despite always being tired from my brain injury." Pharma Boardroom - Sept 25, 2017
And so ... here we are with Knight - making money every years since inception. The base is built and operations are now in a quazi-steady-state. In my opinion, no one else would have had the energy nor the desire to build this machine (but Goodman did it even after his accident). With a little tweeking, this machine will purr, it just might be a thing of beauty.
The longs know exactly what I'm talking about. There aren't many of us left - but there are a lot of new investors sniffing around the company - wondering what it's all about - wondering what it does.
So ... back to the original question ... when does it stop? I don't think you can stop this machine easily ... not under this management and not with the present board guidance. They really get it. They are very careful ... on a grand scale.
IMO.