Palla Pharma Limited (ASX:PAL) will look for acquisitions. Jarrod Ritchie, Chief Executive Officer said, “As we move from our transition phase in the first half of this year, we are developing strong foundations for growth. And we'll continue to increase market share in existing markets, develop new markets and bring a new suite of opiate-based APIs to market at increased profit margins. We are the lowest-cost producer of narcotic raw material globally. And when pricing across the industry is at cyclical lows, we can still attract new API volumes and grow market share at commercially attractive margins, demonstrating our competitive cost advantage in API production, NRM production and imminently production of tablets with our owned MAs. We have developed and refined our production processes to leverage this. We have a globally diversified poppy straw supply chain with dual-hemisphere supply and multiple channels to market. The 2 bottom boxes in the slide are where we really harness the advantages that we have built into the business. To complement this, we are developing a suite of opiate-based APIs targeting anti-addiction APIs and have already obtained the marketing authorizations that we have mentioned today to expand our opiate-based finished dosage capability. There will also, we expect, be more market consolidation and downstream value-added acquisition opportunities that we can investigate in due course”.