Notably it got the go-ahead in 1993 for what has turned out to be the biggest potential market: treating chemotherapy-associated anemia in cancer patients.

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"Jakarta has the potential to be the biggest market for Air Asia, " Fernandes told CNN Tuesday at the launch of Air Asia ASEAN in Jakarta.

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"The potential of market volatility affecting pricing is the biggest problem and the most major concern, " Mr. Cutler said.

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