Summary

Other Scenarios:

Buyer: Schering AG (ADR) (SHR) Last Price: 117.12 Market Cap.: 22.35B
Target: Adams Respiratory Therapeutics, Inc. (ARXT) Last Price: 43.01 Market Cap.: 1.51B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 872
Biopharmaceuticals 329
Medical Devices   246

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 79)
  • Cathepsin S Inhibitor
  • Berlex Betapace/Betapace AF (Sotalol Hydrochloride)
  • Berlex Betaseron (Interferon Beta-1b)
  • Berlex AGT-MI (FGF-4 Gene Therapy)
Target (Total: 8)
  • Erdosteine
  • Delsym (Dextromethorphan Polistirex)
  • Maximum Strength DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
  • Mucinex DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
Buyer
  • Gadofluorine Derivative
  • Berlex Vasovist (Gadofosveset)
  • Medrad Mark V ProVis Injection System
  • Medrad Mark Series
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 15)
  • Advanced Magnetics, Inc. (AMAG)
  • Biogen Idec Inc (BIIB)
  • Serono S.A. (ADR) (SRA)
  • Millennium Pharmaceuticals, Inc. (MLNM)
Target (Total: 3)
  • Cardinal Health, Inc. (CAH)
  • UCB S.A.
  • Boehringer Ingelheim GmbH
Buyer (Total: 5)
  • Millennium Pharmaceuticals, Inc. (MLNM)
  • Cotherix, Inc (CTRX)
  • Sonus Pharmaceuticals, Inc. (SNUS)
  • Favrille, Inc. (FVRL)
Target (Total: 4)
  • Wal-Mart Stores, Inc. (WMT)
  • Walgreen Company (WAG)
  • CVS Corporation (CVS)
  • McKesson Corporation (MCK)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 23,098 496
Revenue Per Employee 300,023.7 1,009,222.0
Total Revenue 1,779.7 52.8
Total Expenses 1,566.3 41.9
Other Revenue 0.0 0.0
Cost of Revenue 415.4 10.8
SG&A Expense 738.0 25.0
Research & Development 310.0 7.5
Other Operating Expense 102.9 0.0
Operating Income 213.4 11.0
Unusual Income 0.0 0.0
LT Debt to Capital 5.88 0
Fwd P/E 28.30 24.07
Fwd P/Rev n/a 4.12
Book Value 4,297.3 222.3
Curr Portion of LTD/Cap Lease 30.1 0.0

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals

Target

Focused (): *Healthcare > Biopharmaceuticals > Respiratory System > Upper Respiratory Tract Disorders > Coughs/Colds

Business Description

Buyer

Schering AG is a global research-based company engaged in the discovery, development, manufacture, marketing and sale of pharmaceutical products. The Company operates eight research and development centers in Europe, the United States and Japan, produce products in facilities located in Europe, the United States, Latin America and Asia, and markets and sells its products in over 100 countries worldwide. Its research and development efforts are primarily concentrated on the commercialization of technologies for unmet medical needs in its four core business areas: Gynecology & Andrology, Diagnostic Imaging, Specialized Therapeutics and Oncology. The Company derived approximately 38% of its net sales, during the year ended December 31, 2005, from sales of four key products: Betaferon, sold in the United States and Canada under the Betaseron trademark (16% of net sales); Yasmin (11%); Magnevist (6%), and Ultravist (5%). Bayer AG gained control of a total of 88% of the Company in June 2006.

Target

Adams Respiratory Therapeutics, Inc. is a specialty pharmaceutical company focused on late-stage development, commercialization and marketing of over-the-counter (OTC) and prescription pharmaceuticals for the treatment of respiratory disorders. The Company markets three OTC products under its Mucinex brand, one product under its Humibid brand, two products under Delsym brand and four products under Children's Mucinex line of products. In June 2006, the Company acquired the United States marketing and sales rights to Delsym from UCB, Inc. (UCB). Delsym is an OTC 12-hour liquid cough suppressant.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 76.83 79.36
Operating Margin % 15.61 31.85
Quick Ratio 1.76 2.84
Current Ratio 2.31 3.52
Coverage Ratio 0.02 0
Total Assets 7,378.4 252.6
Return on Equity % 17.64 20.85
Return on Assets % 10.27 18.35
Cash+ ST Inv. Per Share 8 1.52
Total Debt 298.7 0.0
Total Debt to Equity % 6.95 0
Total Debt to Tangible Equity % 8.61 0
Debt to Asset % 4.05 0.00

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Allergies
The Allergies Subsector includes therapeutics that treat exaggerated immune reaction induced by exposure to a foreign substance.
  
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
  
Dermatology
The Dermatology Subsector includes therapeutics that treat disorders affecting the skin.
  
Digestive System
The Digestive System Subsector includes therapeutics that treat disorders affecting the digestive system.
  
Endocrinology/Metabolism
The Endocrinology/Metabolism Subsector includes therapeutics that treat metabolic disorders and conditions resulting from the dysfunction of hormone secreting glands.
  
Hematology
The Hematology Subsector includes therapeutics that treat blood-based diseases and disorders.
  
Immunology
The Immunology Subsector includes therapeutics that treat disorders affecting the immune system.
  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Musculoskeletal System
The Musculoskeletal System Subsector includes therapeutics that treat disorders of the bones, joints, ligaments, tendons, and soft tissue involved with them.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
  
Obstetrics/Gynecology
The Obstetrics/Gynecology Subsector includes therapeutics that treat female genital disorders, pregnancy, and childbirth.
  
Oncology
The Oncology Subsector includes therapeutics that treat and manage various types of cancer and related complications.
  
Respiratory System
The Respiratory System Subsector includes therapeutics that treat disorders affecting both the upper and lower respiratory tract, including the nose, throat, larynx, trachea, bronchi, and lungs.
Transplantation
The Transplantation Subsectors includes therapeutics that treat rejection and infection associated with tissue transplantation into the human body.
  
Urology
The Urology Subsector includes therapeutics that treat diseases of the kidney, urinary tract, bladder, and the male reproductive system.
  
Medical Devices  
Cardiology
The Cardiology Subsector includes medical devices that diagnose, monitor, and treat diseases affecting the heart and proximal blood vessels. Common devices include vital sign monitors, cardiac defibrillators, pacemakers, and other surgical equipment.
  
Neurology
The Neurology Subsector includes medical devices that diagnose, monitor and treat neurological disorders.
  
Oncology
The Oncology Subsector includes medical devices that detect and treat cancers.
  
Radiology
The Radiology Subsector includes medical devices that generate images of internal physiology.
  
Urology
The Urology Subsector includes medical that diagnose and treat urinary tract and male reproductive disorders.
  
Vascular
The Vascular Subsector includes medical devices that diagnose and treat of conditions affecting the blood vessels.
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Allergies  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of allergic reactions in very early stages of research where no human subject is involved.

Buyer Products:

  • Cathepsin S Inhibitor
  
Cardiovascular System  
Heart Disorders  
Arrhythmia  
Beta Adrenergic Receptor Blocking Agents (Beta Blockers)
Therapeutics that treat abnormal rhythm of the heart beat by inhibiting the stimulation of beta adrenergic receptors of the heart muscle.

Buyer Products:

  • Berlex Betapace/Betapace AF (Sotalol Hydrochloride)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of heart and circulatory system disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Berlex Betaseron (Interferon Beta-1b)
  • Berlex AGT-MI (FGF-4 Gene Therapy)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of heart and circulatory system disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Cathepsin S Inhibitor
  
Vascular Disorders  
Thromboembolism  
Anticoagulating Agents (Anticoagulants)  
Thrombin Inhibitors
Therapeutics that treat the obstruction of a blood vessel by preventing blood clots from forming.

Buyer Products:

  • Berlex Refludan (Lepirudin)
  
Dermatology  
Acne  
Rosacea  
Azelaic Acid
Therapeutics that treat and prevent rosacea caused by bacteria.

Buyer Products:

  • Berlex Finacea (Azelaic Acid)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of skin disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • CRA-028129 (Cathepsin S Inhibitor)
  • Berlex Tisocalcitate (Calcitriol Analog)
  
Digestive System  
Gastrointestinal Tract Disorders  
Intestinal Disorders  
Inflammatory Bowel Disease (IBD)  
Crohn`s Disease  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat Crohn's Disease by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Buyer Products:

  • Berlex Leukine (Sargramostim)
  
Stomatognathic Disorders  
Mucositis  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat mucositis by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Buyer Products:

  • Berlex Leukine (Sargramostim)
  
Endocrinology/Metabolism  
Reproductive Disorders  
Hypoestrogenism  
Hormonal Treatments  
Estrogens
Therapeutics that are female sex hormones.

Buyer Products:

  • Berlex Climara (Estradiol Transdermal System)
  
Hypogonadism  
Female  
Hormonal Treatments  
Estrogens
Therapeutics that are female sex hormones.

Buyer Products:

  • Berlex Climara (Estradiol Transdermal System)
  
Menopause  
Estrogens
Therapeutics that are female sex hormones.

Buyer Products:

  • Berlex Climara (Estradiol Transdermal System)
  
Estrogens/Progestins
Therapeutics that are mixture of two female sex hormones that are important for the development of the female reproductive system.

Buyer Products:

  • Berlex Climodien 1/2 (Estradiolvalerate/Dienogest)
  • Berlex Climara Pro (Levonorgestrel/Estradiol Transdermal)
  • Berlex Angeliq (Drospirenone/Estradiol)
  
Progestins
Therapeutics that are female sex hormones.

Buyer Products:

  • Berlex Levonorgestrel Intrauterine System
  
Hematology  
White Blood Cell (WBC) Disorders  
Neutropenia  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat neutropenia by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Buyer Products:

  • Berlex Leukine (Sargramostim)
  
Immunology  
Autoimmune Disorders  
Inflammatory Bowel Disease (IBD)  
Crohn`s Disease  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat Crohn's Disease by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Buyer Products:

  • Berlex Leukine (Sargramostim)
  
Multiple Sclerosis (MS)  
Interferons
Therapeutics that treat multiple sclerosis with a recombinant human protein that downregulates the antibody response of the immune system.

Buyer Products:

  • Berlex Betaseron (Interferon Beta-1b) For SC Injection
  • Berlex Betaseron (Interferon Beta-1b)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of immune disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Berlex Tisocalcitate (Calcitriol Analog)
  • Berlex Campath (Alemtuzumab)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of immune disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Cathepsin S Inhibitor
  
Infectious Diseases  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of infectious diseases in very early stages of research where no human subject is involved.

Buyer Products:

  • Human Papilloma Virus Vaccine
  
Musculoskeletal System  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of skeletal system disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Cathepsin S Inhibitor
  
Skeletal Disorders  
Bone Disorders  
Osteoporosis  
Hormonal Treatments  
Estrogens
Therapeutics that treat osteoporosis by providing female hormones which results in a decrease in the rate of bone loss due to osteoclasts.

Buyer Products:

  • Berlex Menostar (Estradiol)
  • Berlex Climara (Estradiol Transdermal System)
  
Estrogens/Progestins
Therapeutics that treat osteoporosis by providing female hormones which results in a decrease in the rate of bone loss due to osteoclasts.

Buyer Products:

  • Berlex Climara Pro (Levonorgestrel/Estradiol Transdermal)
  
Neurology  
Neuromuscular Disorders  
Multiple Sclerosis (MS)  
Interferons
Therapeutics that treat multiple sclerosis with a recombinant human protein that down regulates the antibody response of the immune system.

Buyer Products:

  • Berlex Betaseron (Interferon Beta-1b)
  • Berlex Betaseron (Interferon Beta-1b) For SC Injection
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of nervous system and mental disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Berlex Spheramine
  • Berlex Campath (Alemtuzumab)
  
Psychiatric Disorders  
Mood Disorders  
Premenstrual Dysphoric Disorders  
Estrogens/Progestins
Therapeutics that treat premenstrual dysphoric disorders by decreasing the secretion of gonadotropin-releasing hormone in the hypothalamus.

Buyer Products:

  • Berlex YAZ (Drospirenone/Ethinyl Estradiol)
  
Obstetrics/Gynecology  
Child Birth/Pregnancy  
Prevention (Contraception)  
Contraceptives (Birth Control)  
Estrogens/Progestins
Therapeutics that prevent conception by decreasing the secretion of gonadotropin-releasing hormone in the hypothalamus, resulting in an anti-ovulatory effect.

Buyer Products:

  • Berlex Tri-Levlen 21/Tri-Levlen 28 (Levonorgestrel/Ethinyl Estradiol Tablets)
  • Berlex Yasmin (Drospirenone/Ethinyl Estradiol)
  • Berlex E2/DNG Pill (Estradivalerate/Dienogest)
  • Berlex FC Patch (Gestodene/Ethinyl Estradiol)
  • Berlex YAZ (Drospirenone/Ethinyl Estradiol)
  • Berlex Levlen 21/Levlen 28 (Levonorgestrel/Ethinyl Estradiol Tablets)
  • Berlex Levlite (Levonorgestrel/Ethinyl Estradiol Tablets)
  
Progestins
Contraceptive Therapeutics that are female sex hormone necessary for the development of the female reproductive system

Buyer Products:

  • Berlex Mirena (Levonorgestrel-Releasing Intrauterine Device)
  
Female Genital Disorders  
Endometriosis  
Gonadotropin Releasing Hormone (GnRH) Agonists
Therapeutics that treat endometriosis by suppressing the secretion of luteinizing hormone which results in decreased testosterone concentrations.

Buyer Products:

  • Berlex Endometrion (Dienogest)
  
Ovarian  
Hypogonadism  
Hormonal Treatments  
Estrogens
These are female sex hormones.

Buyer Products:

  • Berlex Climara (Estradiol Transdermal System)
  
Vulvovaginal  
Atrophy  
Hormonal Treatments  
Estrogens
Therapeutics that treat disorders characterized by thinning of the vaginal walls with the female sex hormone estrogen.

Buyer Products:

  • Berlex Climara (Estradiol Transdermal System)
  
Oncology  
Breast Cancer  
Metastatic  
Antimicrotubule Agents
Therapeutics that treat and manage cancers of the breast that have spread beyond their original tumor site by blocking the normal function of microtubules, thus inhibiting cell division.

Buyer Products:

  • TOCOSOL Paclitaxel (S-8184)
  
Digestive System  
Colon Cancer/Colorectal Cancer  
Localized  
Vascular Endothelial Growth Factor Receptor Inhibitor (VEGFR)
Therapeutics that treat colorrectal cancer by binding specifically to the tyrosine kinase domain of vascular endothelial growth factor receptor (VEGFR) and inhibiting the formation of blood vessels around tumor cells.

Buyer Products:

  • Berlex PTK787 (Vatalanib)
  
Metastatic  
Vascular Endothelial Growth Factor Receptor Inhibitor (VEGFR)  
Hematology  
Leukemia  
Lymphoid  
Chronic  
Lymphocytic (CLL)  
Antimetabolite Agents  
Adenosine Deaminase Inhibitors
Therapeutics that treat and manage slowly progressing cancers of lymphocytic cells by inhibiting the transformation of deoxyadenosine into deoxyinosine thereby impairing DNA synthesis as well as leaving the cancer cells unable to repair single stranded DNA breaks.

Buyer Products:

  • Berlex Fludara (Fludarabine Phosphate)
  
Monoclonal Antibodies
Therapeutics that bind to specific receptors on the surface of leukemia cells and thereby induce their death.

Buyer Products:

  • Berlex Campath (Alemtuzumab)
  
Palliative Agents  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat neutropenia and other cancer related conditions by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Buyer Products:

  • Berlex Leukine (Sargramostim)
  
Lymphoma  
Hodgkin`s Disease  
Palliative Agents  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat neutropenia and other cancer related conditions of lymphoma characterized by the presence of Reed-Sternberg cells by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Buyer Products:

  • Berlex Leukine (Sargramostim)
  
Non-Hodgkin`s Lymphoma (NHL)  
Palliative Agents  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat neutropenia and other cancer related conditions of lymphomas of B-cells and T-cells by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Buyer Products:

  • Berlex Leukine (Sargramostim)
  
Musculoskeletal System  
Metastatic  
Osteolytic Bone Metastases  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat and manage bone cancers that have spread beyond their original tumor site by preventing the loss of bone mass followed by deposition of new bone which can result in entrapped tumors below the new bone surface.

Buyer Products:

  • Berlex Bonefos (Clodronate)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer in early stages of clinical research where human subject is involved.

Buyer Products:

  • ZK-EPO (Epothilone)
  • Berlex MS-275 (Histone Deacytelators)
  • Oral Multi-target Tumor Growth Inhibitor (MTGI)
  • TOCOSOL Paclitaxel (S-8184)
  • Berlex PTK787 (Vatalanib)
  • Berlex MS209 (Multidrug Resistance Modulator)
  
Urology  
Uterine Cancer  
Uterine Fibroids (Leiomyoma, Uterus)  
Progestins Receptor Modulators
Therapeutics that treat and manage non-cancerous tumors of the uterus by modulating the effects of progesterone.

Buyer Products:

  • Berlex Asoprisnil
  
Respiratory System
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of respiratory disorders in early stages of clinical research where human subject is involved.

Target Products:

  • Erdosteine
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of respiratory disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Cathepsin S Inhibitor
  
Upper Respiratory Tract Disorders  
Coughs/Colds  
Antitussives
Therapeutics that relieve or prevent coughs.

Target Products:

  • Delsym (Dextromethorphan Polistirex)
  
Antitussives/Expectorants
Therapeutics that treat coughs and colds by suppressing coughs and helping ejection of the mucous.

Target Products:

  • Maximum Strength DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
  • Mucinex DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
  
Decongestants/Expectorants
Therapeutics that treat coughs and colds by reducing mucous build up and help in ejection of mucous.

Target Products:

  • Mucinex D (Guaifenesin/Pseudoephedrine HCl Extended Release)
  • Maximum Strength D (Guaifenesin/Pseudoephedrine HCl Extended Release)
  
Expectorants
Therapeutics that treat coughs and colds by helping in the ejection of mucous.

Target Products:

  • Mucinex SE (Guaifenesin Extended Release)
  • Humibid (Guaifenesin Extended Release)
  
Transplantation  
Bone Marrow  
Complications  
Neutropenia  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics containing biological proteins that stimulate the formation of certain white blood cell colonies.

Buyer Products:

  • Berlex Leukine (Sargramostim)
  
Peripheral Blood Progenitor Cell Transplant (PBPCT)  
Recovery  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics containing biological proteins that stimulate the formation of certain white blood cell colonies.

Buyer Products:

  • Berlex Leukine (Sargramostim)
  
Urology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of urological disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Progestogen Etonogestrel
  • Berlex Oxybutynin Releasing Vaginal Ring
  
Medical Devices  
Cardiology  
Diagnostic  
Imaging  
Magnetic Resonance Imaging (MRI)  
Contrast Agents
A drug that is introduced into a patient to attain better image quality.

Buyer Products:

  • Gadofluorine Derivative
  • Berlex Vasovist (Gadofosveset)
  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Buyer Products:

  • Medrad Mark V ProVis Injection System
  • Medrad Mark Series
  
Monitoring  
Monitors  
Vitals/Multiple Parameter  
Electrocardiogram (ECG/EKG)/Pulse Oximeter (SpO2)/ Multiple Vitals  
Portable
Device that measures, records, and displays the electrical signals of the heart, the oxygen concentration in the blood, the blood pressure with direct access to an artery and blood pressure with out direct access to an artery and can be moved around with the patient.

Buyer Products:

  • Medrad 9500 Vital Signs Patient Monitor
  
Neurology  
Surgical  
Region Specific  
Brain  
Stereotactic Surgery  
Guidance/ Planning Systems
Imaging equipment and/or computer systems that create a 3D map of the interior of the brain facilitating stereotactic surgery.

Buyer Products:

  • Medrad SimpliCT
  
Oncology  
Diagnostic  
Imaging  
MRI  
Contrast Agents
A drug that is introduced into a patient to attain better MRI image quality.

Buyer Products:

  • Berlex Vasovist (Gadofosveset)
  
Radiology  
Computed Tomography (CT) Scan  
Accessories  
CT Contrast Injectors
Devices that mechanically push contrast agent into the patient.

Buyer Products:

  • Medrad EnVision CT
  • Medrad Stellant CT
  • Medrad Vistron CT
  
Syringes
Disposables used in contrast injection pumps.

Buyer Products:

  • Medrad Angiomat 3000/6000/6000CT
  • Medrad 100/200/300 Series
  • Medrad EnVision CT Front Load
  • Medrad MCT Plus Front Load
  • Medrad Viamonte-Hobbs 2000
  • Medrad Vistron CT Front Load
  
Contrast Agents  
Injectable
CT Scan contrast agents administered by injection.

Buyer Products:

  • Berlex Neotect (Kit for the Preparation of Technetium Tc 99m Depreotide Injection)
  • Berlex Acutect (Kit for the Preparation of Technetium Tc 99m Apcitide Injection)
  • Berlex Ultravist (Iopromide)
  
MRI  
Accessories  
Needle Systems
Injection systems used to deliver MRI contrast agents.

Buyer Products:

  • Medrad Spectris Solaris MR Injection Series
  • Medrad Continuum MR Compatible Infusion System
  • Medrad Spectris MR
  
Coils  
Closed MRI  
General Purpose
A closed MRI system that is designed to be used for multiple purpose imaging studies.

Buyer Products:

  • Medrad Multi-Purpose Array
  
Region Specific  
Abdominal
A coil that is placed on the abdomen to attain an image.

Buyer Products:

  • Medrad MRInnervu
  • Medrad Torso Array
  
Breast
A coil that is placed on the breast to attain an image of it.

Buyer Products:

  • Medrad Breast Coil/Array
  
Head/Neck
A coil that is placed on or around the head/neck to attain an image of it.

Buyer Products:

  • Medrad Neurovascular Array
  • Medrad Anterior Neck Coil
  
Lower Extremity
A coil that is placed on the lower extremity to attain an image of it.

Buyer Products:

  • Medrad Extremity Array
  
Spine
A coil that is placed near the spine to attain an image of it.

Buyer Products:

  • Medrad Quadrature Cervical Thoracic-Lumbar Array
  
Upper Extremity
A coil that is placed on an upper extremity to attain an image of it.

Buyer Products:

  • Medrad Extremity Array
  • Medrad Shoulder Coil
  
Vascular
A coil that is placed near a vessel to attain an image of it.

Buyer Products:

  • Medrad Gore Cardiovascular Array
  
Contrast Agents  
Injectable
A contrast agent that gets introduced to the body via a needle or IV.

Buyer Products:

  • Berlex Eovist
  • Berlex Magnevist (Gadopentetate Dimeglumine)
  • Berlex Feridex I.V. (Ferumoxide)
  • Berlex Vasovist (Gadofosveset)
  • Berlex SHU 555C
  • Berlex Primovist (Gadoxetic Acid)
  • Berlex Gadovist (Gadobutrol)
  • Berlex Resovist
  
Ultrasound  
Accessories  
Aspiration Needles
Biopsy needles that have special properties allowing ultrasound guidance.

Buyer Products:

  • Medrad Pulsar Injection System
  
X-Ray  
Contrast Agents  
Injectable
Introduced to the body via a needle.

Buyer Products:

  • Berlex Ultravist (Iopromide)
  • SF-64 (Omocianine)
  
Urology  
Diagnostic  
Imaging  
MRI  
Contrast Agents
A drug that is introduced into a patient to attain better MRI image quality.

Buyer Products:

  • Berlex Vasovist (Gadofosveset)
  
Vascular  
Diagnostic  
Imaging  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Buyer Products:

  • Medrad Mark Series
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Roche Holding Ltd. (ADR) n/a 150,603.416 33.42 23.50 5.45 n/a 8.26
Genentech, Inc. n/a 88,932.663 47.83 42.47 10.51 9.85 n/a
Amgen, Inc. n/a 88,056.316 29.94 20.21 6.43 6.25 32.66
Teva Pharmaceutical Industries Ltd (ADR) n/a 25,246.724 488.32 15.14 3.85 3.01 n/a
Biogen Idec Inc n/a 15,124.990 432.26 22.32 6.05 5.72 5.05
Serono S.A. (ADR) n/a 13,271.686 19.41 18.65 4.85 4.76 5.49
Altana AG (ADR) n/a 7,534.714 13.21 12.93 1.64 n/a 4.21
Elan Corporation, plc (ADR) n/a 6,402.804 n/a -19.54 11.98 11.24 n/a
Barr Pharmaceuticals, Inc. n/a 5,391.955 16.02 15.68 4.10 3.81 4.40
Warner Chilcott Ltd. n/a 3,555.337 n/a n/a 5.73 n/a n/a
Medicis Pharmaceutical Corporation n/a 1,931.735 n/a 49.64 5.96 5.66 9.88
MGi Pharma, Inc. n/a 1,493.407 n/a -95.80 4.35 4.29 n/a
United Therapeutics Corporation n/a 1,399.904 25.38 37.18 10.29 9.43 4.85
The Medicines Company n/a 1,284.690 294.31 93.48 6.92 6.02 6.43
Pharmion Corporation n/a 814.433 n/a -32.95 3.47 3.49 n/a
GPC Biotech AG (ADR) n/a 663.004 n/a n/a 32.26 n/a 5.45
Noven Pharmaceuticals, Inc. n/a 580.557 68.48 39.27 10.23 9.20 4.01
Target
  The Procter & Gamble Company n/a 201,811.395 23.64 21.10 2.96 2.67 n/a
Johnson & Johnson n/a 199,398.736 18.02 18.45 3.82 3.78 n/a
Pfizer Inc. n/a 198,473.286 15.73 13.44 4.11 4.18 n/a
Novartis AG (ADR) n/a 142,354.711 20.75 19.67 3.93 3.89 3.69
Wyeth n/a 69,974.213 17.18 16.60 3.52 3.51 n/a
Bayer AG (ADR) n/a 36,750.709 18.09 16.81 1.03 1.17 n/a
Schering-Plough Corporation n/a 33,626.034 34.35 28.12 3.28 3.26 4.36
CVS Corporation n/a 25,628.336 19.53 20.49 0.65 0.60 5.64

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Advanced Magnetics, Inc. 47.00% 510.507 n/a -21.89 186.97 180.86 11.46
Biogen Idec Inc n/a 15,124.990 432.26 22.32 6.05 5.72 5.05
Serono S.A. (ADR) n/a 13,271.686 19.41 18.65 4.85 4.76 5.49
Millennium Pharmaceuticals, Inc. n/a 3,717.673 n/a -93.25 7.93 7.49 6.66
Medarex, Inc. n/a 1,587.134 n/a -9.01 28.33 32.03 4.31
Crucell N.V. (ADR) n/a 1,376.261 n/a -26.50 18.91 8.55 3.57
Dendrite International, Inc. n/a 448.594 41.56 65.94 1.04 1.08 3.09
Penwest Pharmaceuticals n/a 418.344 n/a -13.47 70.02 78.84 7.70
OPNET Technologies, Inc. n/a 295.398 69.90 44.21 3.59 3.16 3.42
Peregrine Pharmaceuticals n/a 267.439 n/a n/a 78.52 n/a 9.23
EPIX Pharmaceuticals, Inc. n/a 96.679 n/a -2.81 13.61 12.76 8.34
Pharmacopeia Drug Discovery, Inc. n/a 67.174 n/a -2.51 3.98 4.54 2.92
Bioject Medical Technologies Inc. n/a 15.639 n/a n/a 1.61 n/a 2.57
Tripos, Inc. n/a 13.051 n/a n/a 0.29 n/a 0.63
Valentis, Inc. n/a 11.616 n/a n/a 15.99 n/a 4.77
Target
  Cardinal Health, Inc. n/a 26,140.058 26.14 17.82 0.32 0.30 7.76
UCB S.A. n/a n/a n/a n/a n/a n/a n/a
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Millennium Pharmaceuticals, Inc. n/a 3,717.673 n/a -93.25 7.93 7.49 6.66
Cotherix, Inc n/a 208.968 n/a -5.86 4.17 3.03 2.43
Sonus Pharmaceuticals, Inc. n/a 203.462 n/a -7.63 10.26 7.84 3.70
Favrille, Inc. n/a 129.773 n/a -2.69 n/a 2.06 2.09
Accentia Biopharmaceuticals, Inc n/a 99.299 n/a -2.45 3.67 3.46 n/a
Target
  Wal-Mart Stores, Inc. 10.00% 211,494.994 19.84 17.91 0.64 0.62 4.91
Walgreen Company 10.00% 43,182.977 24.67 21.78 0.91 0.81 4.27
CVS Corporation 10.00% 25,628.336 19.53 20.49 0.65 0.60 5.64
McKesson Corporation 10.00% 15,236.009 19.94 18.78 0.17 0.16 3.83

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Pfizer Inc. n/a 198,473.286 15.73 13.44 4.11 4.18 n/a
Novartis AG (ADR) n/a 142,354.711 20.75 19.67 3.93 3.89 3.69
AstraZeneca plc (ADR) n/a 91,746.689 15.72 16.20 3.58 3.69 9.20
Abbott Laboratories n/a 72,830.558 22.98 19.08 3.27 3.27 n/a
3M Company n/a 58,136.101 16.92 17.53 2.59 2.56 10.11
Koninklijke Philips Electronics NV (ADR) n/a 40,735.662 6.47 32.06 1.15 1.24 1.72
Genzyme Corporation n/a 17,953.911 50.14 31.67 5.86 5.72 5.96
Biogen Idec Inc n/a 15,124.990 432.26 22.32 6.05 5.72 5.05
Serono S.A. (ADR) n/a 13,271.686 19.41 18.65 4.85 4.76 5.49
Vertex Pharmaceuticals Incorporated n/a 5,093.153 n/a -16.70 30.18 19.99 10.03
Millennium Pharmaceuticals, Inc. n/a 3,717.673 n/a -93.25 7.93 7.49 6.66
Target
  Wal-Mart Stores, Inc. n/a 211,494.994 19.84 17.91 0.64 0.62 4.91
Target Corporation n/a 50,285.052 19.83 18.94 0.91 0.86 3.50
Walgreen Company n/a 43,182.977 24.67 21.78 0.91 0.81 4.27
Sears Holdings Corporation n/a 27,254.188 23.10 20.97 0.51 0.54 4.35
Cardinal Health, Inc. n/a 26,140.058 26.14 17.82 0.32 0.30 7.76
CVS Corporation n/a 25,628.336 19.53 20.49 0.65 0.60 5.64
The Kroger Co. n/a 16,357.290 16.66 15.90 0.26 0.25 6.64
McKesson Corporation n/a 15,236.009 19.94 18.78 0.17 0.16 3.83
Safeway Inc. n/a 12,864.566 17.48 16.80 0.32 0.32 4.07
AmerisourceBergen Corp. n/a 9,419.104 25.79 22.14 0.16 0.16 5.69
Rite Aid Corporation n/a 2,368.368 1.94 n/a 0.14 0.13 3.06
Albertsons LLC n/a n/a n/a n/a n/a n/a n/a
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a
UCB S.A. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 7,009.5 239.1 7,248.6
Other Revenue 0.0 0.0 0.0
Total Revenue 7,009.5 239.1 7,248.6
Cost of Revenue 1,624.0 49.4 1,673.4
SG&A Expense 2,887.9 99.0 2,986.9
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 1,283.9 18.9 1,302.8
Interest Expense 0.0 -4.3 -4.3
Other Operating Expense 119.2 0.0 119.2
Total Expenses 5,915.1 163.0 6,078.0
Operating Income 1,094.4 76.2 1,170.6
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 18.8 0.0 18.8
Other, Net 28.9 0.0 28.9
Income Before Taxes 1,142.1 76.2 1,218.2
Income Taxes 384.0 29.8 413.8
Income After Taxes 758.1 46.4 804.4
Minority Interest (IS) -5.0 0.0 -5.0
Net Income - Excl. Xord. Items 753.0 46.4 799.4
Net Income - Incl. Xord. Items 753.0 46.4 799.4
Income Avail. to Common 753.0 46.4 799.4
Share Items
Basic Avg. Shares Outstanding 192.4 34.8 227.2
Basic EPS - Excl. Xord. Items 3.91 1.33 3.52
Basic EPS - Incl. Xord. Items 3.91 1.33 3.52
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 192.4 37.5 229.9
F.D. EPS - Excl. Xord. Items 3.91 1.24 3.48
F.D. EPS - Incl. Xord. Items 3.91 1.24 3.48
Dividends Per Common Share 1.51 0.00 1.51
Balance Sheet
Assets
Cash and Equivalents 1,445.8 34.8 1,480.6
ST Investments 94.1 22.2 116.4
Accounts Receivable 1,865.0 23.5 1,888.5
Inventory 1,070.6 10.6 1,081.2
Prepayments and Advances 0.0 4.9 4.9
Other Current Assets 0.0 3.7 3.7
Current Assets 4,475.5 99.6 4,575.2
PPE 0.0 8.1 8.1
Accum D&A 0.0 -0.7 -0.7
PPE, Net 1,408.2 7.4 1,415.6
Goodwill & Intangibles 829.6 127.1 956.7
Long Term Investments 268.6 0.0 268.6
Other Assets 0.0 0.0 0.0
Other LT Assets 396.6 18.4 415.0
Total Assets 7,378.4 252.6 7,631.0
Liabilities
Accounts Payable 0.0 15.2 15.2
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 0.0 11.5 11.5
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 30.1 0.0 30.1
Other (Current) Liabilities 1,907.7 1.6 1,909.3
Current Liab. 1,937.8 28.3 1,966.1
LT Debt 268.6 0.0 268.6
Total LT Debt 268.6 0.0 268.6
Minority Interest (BS) 23.8 0.0 23.8
Other LT Liab. 850.9 2.0 852.9
Total Liabilities 3,081.2 30.3 3,111.5
Shareholders Equity
Common Stock 243.5 0.3 243.8
Additional Paid in Capital 419.2 464.9 884.1
Retained Earnings 3,638.4 -243.0 3,395.4
Treasure Stock -3.8 0.0 -3.8
Other Equity 0.0 0.0 0.0
Total Equity 4,297.3 222.3 4,519.6
Total Liab. & Equity 7,378.4 252.6 7,631.0
Shares Outstanding 190.8 34.9 225.7
Cash Flow
Operating Cash Flow
CF Net Income 758.1 46.4 804.4
CF Depreciation 430.5 1.3 431.7
CF Deferred Taxes 0.0 2.0 2.0
Other Non-Cash Items -86.6 6.4 -80.2
Change in Working Capital 356.4 -8.4 348.0
Total Cash From Operating Activities 1,458.4 47.6 1,506.0
Investing Cash Flow (not calculated)
Capital Expenditures -377.8 -128.8 -506.6
Other Investing Cash Flows -7.5 -38.2 -45.7
Total Cash From Investing Activities -385.3 -167.0 -552.3
Financing Cash Flow (not calculated)
Dividends Paid -291.2 0.0 -291.2
Purchase Or Sale of Stock 74.0 110.5 184.6
Purchase and Retirement of Debt 0.0 0.0 0.0
Other Financing Cash Flow -579.8 19.0 -560.8
Total Cash From Financing Activities -797.0 129.6 -667.4
Exchange Rate Effects -12.6 0.0 -12.6
Net Change in Cash 263.6 10.2 273.7
Cash Taxes Paid 252.3 10.7 263.0
Cash Interest Paid 15.1 0.0 15.1