Summary

Other Scenarios:

Buyer: Biosite Incorporated (BSTE) Last Price: 93.92 Market Cap.: 1.50B
Target: Arrow International, Inc. (ARRO) Last Price: 32.69 Market Cap.: 1.48B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 873
Biopharmaceuticals   335
Medical Devices 245

- 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: 14)
  • Triage Cardiac Panel
  • Triage Profiler Shortness Of Breath Panel
  • CardioProfilER With Myeloperoxidase (MPO)
  • Triage D-Dimer Test
Target (Total: 86)
  • FlexTip Plus/TheraCath Epidural Kit
  • Epidural Needle Series
  • 7cc Luer Slip Loss of Resistance Syringe
  • Single Shot Epidural Anesthesia Kit
Buyer

n/a
Target
  • ChloraPrep

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 4)
  • Beckman Coulter, Inc. (BEC)
  • Human Genome Sciences (HGSI)
  • XOMA Limited (XOMA)
  • Dyax Corp. (DYAX)
Target (Total: 2)
  • QAD Inc. (QADI)
  • Enturia, Inc.
Buyer (Total: 2)
  • Thermo Fisher Scientific Inc. (TMO)
  • Medarex, Inc. (MEDX)
Target (Total: 0)

n/a

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 1,036 4,000
Revenue Per Employee 322,996.5 125,813.7
Total Revenue 83.7 125.5
Total Expenses 65.7 103.9
Other Revenue 0.0 0.0
Cost of Revenue 25.6 62.1
SG&A Expense 26.6 34.4
Research & Development 13.6 7.1
Other Operating Expense 0.0 0.0
Operating Income 18.1 21.5
Unusual Income 0.0 0.3
LT Debt to Capital 0 0
Fwd P/E 40.00 23.27
Fwd P/Rev 4.59 2.82
Book Value 307.0 545.4
Curr Portion of LTD/Cap Lease 0.0 1.0

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Medical Devices > Clinical Diagnostics > Immunoassays > Reagents > Test Kits > Special/Immuno Chemistry > Cardiac

Target

Focused (): *Healthcare > Medical Devices > Drug Delivery > Infusion Therapy > Vascular Access

Business Description

Buyer

Biosite Incorporated is a medical diagnostic company utilizing a biotechnology approach to create products for the diagnosis cardiovascular diseases, drug overdose and infectious diseases. The Company developed its own internal program, Biosite Discovery, focused on identifying proteins or combinations of proteins that function as disease biomarkers and have high diagnostic utility. Key to Biosite Discovery is its Omniclonal phage display antibody development technology, which enables the development of immunoassays that can be used to evaluate up to several hundred potential disease biomarkers each year. The Company?s principal products are the Triage BNP Tests, which measure B-type natriuretic peptide, a hormone present at elevated levels in patients with heart failure, and the other Triage cardiovascular products, which include several multimarker panels intended to aid in the diagnosis of various cardiovascular conditions.

Target

Arrow International, Inc. (Arrow) develops, manufactures and markets a range of clinically advanced, disposable catheters and related products for critical and cardiac care. The Company's critical care products are used principally for central vascular access in the administration of fluids, drugs and blood products, patient monitoring and diagnostic purposes. These products are used by anesthesiologists, critical care specialists, surgeons, cardiologists, nephrologists, emergency and trauma physicians, and other healthcare providers. Arrow's cardiac care products are used by interventional cardiologists, cardiac surgeons, interventional radiologists and electrophysiologists for purposes, such as the diagnosis and treatment of heart and vascular disease, and to provide short-term cardiac assist following cardiac surgery, serious heart attack or balloon angioplasty.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 69.11 49.82
Operating Margin % 19.37 17.44
Quick Ratio 3.32 1.94
Current Ratio 4.48 2.9
Coverage Ratio 0.06 0.05
Total Assets 360.3 719.9
Return on Equity % 12.61 11.09
Return on Assets % 10.75 8.4
Cash+ ST Inv. Per Share 5.79 3.79
Total Debt 0.0 71.2
Total Debt to Equity % 0 13.06
Total Debt to Tangible Equity % 0 15.49
Debt to Asset % 0.00 9.89

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Medical Devices
Anesthesiology
The Anesthesiology Subsector includes medical devices that deliver and monitor anesthetics.
  
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.
  
Clinical Diagnostics
The Clinical Diagnostics Subsector includes medical devices that analyze human body specimens within a medical setting. These devices, including equipment, biological and chemical reagents are primarily used for the diagnosis of diseases.
Drug Delivery
The Drug Delivery Subsector includes medical devices that facilitate the delivery of medications through different anatomical entryways, including blood vessels, skin, the mouth, and the lungs. Common devices in this sector include vascular access catheters, needles, implants, and inhalers.
  
General Surgery
The General Surgery Subsector includes medical devices that perform general, non-specialty surgeries; these devices are often general in scope and are used in procedures involving various parts of the body.
  
Neonatology
The Neonatology Subsector includes medical devices that diagnose, monitor and treat diseases of newborns.
  
Oncology
The Oncology Subsector includes medical devices that detect and treat cancers.
  
Respiratory
The Respiratory Subsector includes medical devices that diagnose and treat respiratory diseases.
  
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  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Broad Spectrum  
Antiseptic Agents
Therapeutics that prevent bacterial infection by inhibiting the growth and development of microorganisms without necessarily killing them.

Target Products:

  • ChloraPrep
  
Surgery  
General  
Bacterial Infections  
Antiseptic Agents
Therapeutics that are used to prevent the spread of microorganism in pre-surgical skin infections due to bacteria.

Target Products:

  • ChloraPrep
  
Medical Devices
Anesthesiology  
Surgical  
Procedure/Region Specific  
Delivery Systems  
Epidural
Devices used to inject anesthetic into the epidural space to numb the legs and abdomen, which include catheters, needles, syrninges and other prepackaged kits.

Target Products:

  • FlexTip Plus/TheraCath Epidural Kit
  • Epidural Needle Series
  • 7cc Luer Slip Loss of Resistance Syringe
  • Single Shot Epidural Anesthesia Kit
  
Nerve Block
Devices used to assist in the delivery of nerve block anesthetic, which include catheters, needles and other prepackaged kits.

Target Products:

  • StimuCath
  • StimuQuick
  
Cardiology  
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.

Target Products:

  • Balloon/Double-Lumen Balloon Wedge-Pressure Catheters
  • Berman Angiographic/Reverse Berman Balloon Catheter Series
  
Monitoring  
Accessories  
Blood Pressure  
Invasive Blood Pressure Cuffs
Monitoring accessories that require contact with the blood and blood vessels to obtain an accurate blood pressure reading, such as domes and transducers.

Target Products:

  • Wedge Pressure Products
  • VitaCuff Products
  
Output Sensors
Instruments that measure various cardiac outputs, such as blood velocity and pressure. Examples of sensors include bioimpedence, hemodynamic and thermodilution catheters.

Target Products:

  • Balloon/HANDS OFF Thermodilution Catheter Series
  • HemoSonic 100 Probe
  
Monitors  
Cardiac Output
Instrument that measures the blood flow pumped out of the heart.

Target Products:

  • HemoSonic 100
  • Cardiac Output Computer
  
Surgical  
General Procedure  
Accessories  
Access  
Arterial
Instruments used to gain access to the heart's arteries, including aortic pouches, introducer needles, introducers and vessel dilators.

Target Products:

  • Arrow-Fischell EVAN Vascular Access
  • Super Arrow-Flex Sheath Introducer Series
  • Percutaneous Sheath Introducer
  • Spring-Wire Guide Introducer
  
Guidewires
A small wire-like device that is threaded through a catheter to the site of interest for delivery of another apparatus like a stent.

Target Products:

  • Radial Artery Catheterization Kit
  
Procedure/Region Specific  
Arrhythmia  
Electrophysiology  
Chamber Mapping Systems  
Catheters
Long slender wire-like devices with multiple electrodes on the end that gets inserted into the heart chamber for electrophysiological studies and chamber mapping.

Target Products:

  • QuadPolar Electrode Catheter Series
  • Decapolar/Hexapolar Electrode Catheters Series
  
Pacing Catheters
Catheter that is capable of regulating the electrical stimulation rhythm of the heart.

Target Products:

  • Multi-Polar Electrode Catheter Series
  • HANDS-OFF Balloon Pacing Catheter
  • Bipolar Pacing Catheter
  • Balloon Pacing Catheter Series
  • QuadPolar Electrode Catheter Series
  
Cardiac Output Assist  
Intra-Aortic Balloon Pump (IABP)  
Accessories
Various instruments used to assist intra aortic balloon pump surgery, such as catheter kits and introducers.

Target Products:

  • Ultra 8
  • Hemostasis Sheath Introducer
  • RediGaurd Series
  • NarrowFlex Series
  • UltraFlex Flexible Series
  • Universal Series
  • LightWAVE Series
  
Systems
Complete set of instruments used to perform intra aortic balloon pump surgery.

Target Products:

  • KAAT II Plus
  • AutoCAT 2 Series
  • ACAT 1 Plus
  • TransAct
  
Ventricular Assist Device (VAD)  
Left Ventricular (LVAS)  
Implantable
A device that can be encased in the body cavity and provides the pumping force for the left ventricle of the heart.

Target Products:

  • CorAide
  
Revascularization  
Atherectomy  
Rotational Systems
Complete set of instruments used to perform catheter based rotational blade atherectomy.

Target Products:

  • Arrow-Fischell Pullback Atherectomy Catheter
  
Clinical Diagnostics
Chemistry  
Point of Care Testing  
Kits  
Cardiac
Test kits used to aid in the diagnosis of heart conditions.

Buyer Products:

  • Triage Cardiac Panel
  • Triage Profiler Shortness Of Breath Panel
  • CardioProfilER With Myeloperoxidase (MPO)
  • Triage D-Dimer Test
  
Toxicology/Abuse Drugs
Test kits which test for the presence of drugs of abuse.

Buyer Products:

  • Triage TOX Drug Screen
  • Triage Drugs of Abuse Panel
  
Hemostasis/Coagulation  
Reagents  
Test Kits  
Protein-C
Test kits used to assay for Protein C.

Buyer Products:

  • Protein-C Test
  
Immunoassays  
Reagents  
Test Kits  
Bacterial  
Clostridium Difficile
Immunoassay kits which test for current or previous infection caused by clostridium difficile bacteria.

Buyer Products:

  • Triage Micro C. difficile Panel
  
Mycological (Fungal)  
Cryptococcus
Immunoassay kit which tests for the presence cryptococcus antigen.

Buyer Products:

  • Triage Parasite Panel
  
Parasitic  
Entamoeba histolytica
Immunoassay kit which tests for the presence of infectious disease or previous infection caused by entamoeba histolytica.

Buyer Products:

  • Triage Parasite Panel
  
Giardia
Immunoassay kit which tests for the presence of infectious disease or previous infection caused by cryptococcus.

Buyer Products:

  • Triage Parasite Panel
  
Special/Immuno Chemistry  
Cardiac  
Acute Coronary Syndromes
Assays that screen, diagnose or monitor acute coronary syndromes (ACS) by detecting various markers present in the blood after an episode.

Buyer Products:

  • Acute Coronary Syndrome (ACS) Marker
  
Myocardial Infarction/Heart Failure  
B-Type Natriuretic Peptide (BNP)
Immunoassay test kits which quantitatively measure B-type natriuretic peptide in plasma or serum.

Buyer Products:

  • Triage BNP Test
  • CardioProfilER With Myeloperoxidase (MPO)
  
CK-MB
Immunoassay test kits which quantitatively measure creatinine kinase-MB fraction in plasma or serum.

Buyer Products:

  • Triage Cardiac Panel
  
Myeloperoxidase (MPO)
Immunoassay test kits which quantitatively measure myeloperoxidase (MPO) in plasma or serum.

Buyer Products:

  • Triage Myeloperoxidase (MPO) Test
  
Myoglobin
Immunoassay test kits which quantitatively measure for myoglobin in plasma or serum.

Buyer Products:

  • Triage Cardiac Panel
  
Troponin
Immunoassay test kits which quantitatively measure for troponin in plasma or serum.

Buyer Products:

  • Triage Cardiac Panel
  
Stroke
Assays that screen, diagnose or monitor stroke by detecting various markers present in the blood after an episode.

Buyer Products:

  • Triage Stroke Panel
  
Sepsis
Assays that screen, diagnose or monitor sepsis by detecting various markers present in the blood after an episode.

Buyer Products:

  • Triage Sepsis Panel
  
Toxicology/Abuse Drugs  
Multiple Drug Kit
Immunoassay test kits which measure for more than one drug of abuse in body fluids.

Buyer Products:

  • Triage TOX Drug Screen
  • Triage Drugs of Abuse Panel
  
Specimen Collection  
Blood  
Arterial  
ABG Collection Kits
Collection devices used to collect arterial blood samples.

Target Products:

  • QuickFlash Kits
  • Arterial/Venous Catheterization Kits
  • Femoral Artery Catheterization Set
  
Body Fluids  
Paracentesis Kits
Kits used in the collection of paracentesis fluid.

Target Products:

  • Large Volume Abdominal
  • Peritoneal Lavage Kit
  
Thoracentesis Kits
Catheters/thin tubes used to collect samples of fluid in the thoracic fluid for diagnostic and therapeutic purposes

Target Products:

  • Arrow-Clarke Pleura-Seal Thoracentesis Kit
  
Drug Delivery  
Infusion Therapy  
Accessories  
Needleless Fluid Administration/Extension Sets
Valve systems designed to work without needles to prevent patient injuries.

Target Products:

  • UserGard Needle-Free Injection Cap System
  
Delivery Systems  
Pumps  
Subcutaneous
Pump placed under the skin of the patient receiving infusion therapy.

Target Products:

  • Arrow Model 3000 Constant Flow Pump
  
Integrated/Comprehensive Systems
Complete infusion systems that include pumps, monitoring devices and other accessories.

Target Products:

  • Emergency Infusion Device- EID
  • RIC Rapid Infusion Catheter Exchange Set
  
Vascular Access  
Extended In Dwelling Catheters  
Central Venous Catheters (CVC)
Catheters designed to handle high volume flow.

Target Products:

  • Arrowgard Blue Series
  • HANDS OFF Central Venous Series
  • Maximal Barrier Precautions Tray
  
Introducers
Medical devices designed for introducing vascular access.

Target Products:

  • Arrow Simplicity Micro-Puncture Introducer Set
  • Raulerson Syringe
  
Kits
Kits containing necessary components for gaining vascular access, such as midline catheters, peripherally inserted central catheters, central venous catheters, and associated repair instruments.

Target Products:

  • Super Arrow-Flex
  • Peripherally Inserted Midline Catheter Kit Series
  • EID/Peripheral EID Catheter Kit
  • Arrow-Howes
  • Single-Lumen ARROWgard Blue
  • Multi-Lumen Pediatric Kit Series
  
Midline Catheters
Central venous catheter set designed for midline venous access.

Target Products:

  • Arrow Midline Catheter Series
  
Peripherally Inserted Central Catheters (PICC)
Central venous catheter set designed for peripheral venous access.

Target Products:

  • Arrow PICC Series
  
Peripheral Intravenous Catheters  
Infusion Sets
Complete infusion sets containing peripheral intravenous catheters.

Target Products:

  • TwinCath Two-Lumen Peripheral Catheter
  • Rapid Infusion Catheter (RIC)
  
Ported
Peripheral intravenous catheters that have ports for access and to attach other devices such as infusion pumps.

Target Products:

  • Blue FlexTip Catheter/Port Systems
  
Safety Catheters
Catheters designed to protect healthcare workers from accidental needle punctures.

Target Products:

  • StatLock Products
  
Subcutaneous Implants  
Accessories  
Port Access
Devices that permit port introduction allowing controlled vascular access.

Target Products:

  • A2Port With Introducer Kit
  
Ports
Implanted devices that allow controlled vascular access.

Target Products:

  • Blue FlexTip Catheter/Port Systems
  • A/A2-Port Series
  • Low Profile Port/B-Port
  
General Surgery  
Invasive  
Accessories  
Drainage
Medical instruments used to provide drainage in the surgical area, including access kits, catheters, evacuator kits and reservoirs.

Target Products:

  • Blue FlexTip Percutaneous Cavity Drainage Kits
  
Guidewires
Guidewires used to lead other medical devices into place during surgical procedures

Target Products:

  • Spring-Wire Guides
  
Instruments  
Manual Instruments
Medical devices used manually by surgeons to perform invasive general surgical procedures, such as scalpels, curettes, dissectors, elevators, forceps, osteotomes, retractors, bissectors and other similar items.

Target Products:

  • Catheter Clamps
  • I.V. Tubing Products
  
Procedure/Region Specific  
Cholecystectomy  
Cholangiography  
Needles
Needles used to assist in cholangiography.

Target Products:

  • Port Non-Coring/Corning/Port-Winged Needles
  • Introducer Needles
  
Minimally Invasive  
Procedure/Region Specific  
Cholecystectomy  
Cholangiography
Devices used to perform minimally invasive procedures involving the biliary system, including catheter kits and other endoscopic instruments.

Target Products:

  • Arrow-Karlan
  • Arrow Percutaneous
  • Laparoscopic Cholangiography Balloon Catheter
  
Neonatology  
Surgical  
Accessories  
Drainage Catheters
Long slender wire-like tube device that gains access to internal compartments of a newborn and allows fluid to exit through it.

Target Products:

  • NeoCare
  
Treatment  
Feeding Tubes
A pipe-like instrument that allows food to enter the newborn's stomach.

Target Products:

  • NeoCare
  
Urinary Drainage  
Systems
Complete set of instruments to remove the urine in a newborn's bladder.

Target Products:

  • NeoCare
  
Vascular Access  
Umbilical Vessel Catheters
Long slender wire-like tube device that proceeds down the umbilical cord to provide access to the inside of the newborn.

Target Products:

  • NeoCare
  
Oncology  
Surgical  
Biopsy  
Region Specific  
Liver
Instruments used to obtain biopsy sample from the liver system.

Target Products:

  • Liver Biopsy Kit
  
Respiratory  
Treatment  
Pneumothorax Catheter Kits
Thin tubes designed to be inserted into the lungs to correct pneumothorax (collapsed lung).

Target Products:

  • Pneumothorax Kit
  
Urology  
Surgical  
Procedure/Region Specific  
Percutaneous  
Nephrostomy  
Drainage Instruments
Instruments used to remove waste fluid from the kidney, such as catheters, malecots, pezzers, nephrostomy tubes and other similar items.

Target Products:

  • Blue FlexTip Percutaneous Cavity Drainage Kits
  
Treatment  
Renal  
Hemodialysis  
Components  
Access Graft Thrombolysis
Device used to plug up the hole in the access vein used for hemodialysis.

Target Products:

  • Arrow-Trerotola Percutaneous Thrombolytic Device (PTD)
  
Catheters  
Central Venous Access (CVA)
Catheter that gains access to a major vein.

Target Products:

  • Pressure Injectable PICC Kit
  • Pediatric Catheter Series
  • You-Bend Two-Lumen Hemodialysis
  
Sets
Complete set of catheter instruments used to gain access to internal blood vessels for hemodialysis.

Target Products:

  • Arrow Cannon Connector Assembly Replacement Set
  
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.

Target Products:

  • Berman Angiographic/Reverse Berman Balloon Catheter Series
  
Surgical  
General Procedure  
Accessories  
Introducer Needles
Devices which provide access to the vascular system for introduction of introducers.

Target Products:

  • Arrow-Fischell EVAN Vascular Access
  
Introducers
Devices used to provide percutaneous introduction of catheters, interventional devices, and temporary pacing leads into the vasculature.

Target Products:

  • Arrow Simplicity Micro-Puncture Introducer Set
  • Percutaneous Sheath Introducer
  • Super Arrow-Flex Sheath Introducer 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
  General Electric Company n/a 382,205.166 18.29 16.82 2.31 2.20 15.40
Johnson & Johnson n/a 186,667.352 18.09 15.92 3.37 3.09 n/a
Roche Holding Ltd. (ADR) n/a 167,078.347 25.55 21.45 4.79 4.07 7.17
Siemens AG (ADR) n/a 109,938.745 24.73 16.50 0.95 0.97 7.50
Abbott Laboratories n/a 89,961.153 58.06 20.43 3.98 3.94 n/a
STMicroelectronics N.V. (ADR) n/a 17,912.539 24.74 25.59 1.83 1.74 1.90
Dade Behring Holdings, Inc. n/a 4,170.304 33.10 29.89 2.34 2.23 13.30
Beckman Coulter, Inc. n/a 4,095.928 21.92 19.76 1.62 1.49 48.65
Cepheid n/a 641.817 n/a -41.64 7.35 5.55 4.84
BioVeris Corporation n/a 572.696 n/a n/a 25.08 n/a 8.61
Dyax Corp. n/a 223.253 n/a -3.86 17.47 14.10 10.13
MEDTOX Scientific, Inc. n/a 197.863 36.99 n/a 2.73 n/a 4.05
Nanogen, Inc. n/a 128.263 n/a n/a 4.78 n/a 38.96
American Bio Medica Corporation n/a 21.720 110.86 n/a 1.57 n/a 3.60
Spectral Diagnostics, Inc (USA) n/a 14.697 n/a n/a 1.87 n/a n/a
Avitar, Inc. n/a 0.298 n/a n/a 0.06 n/a n/a
Mobidiag n/a n/a n/a n/a n/a n/a n/a
Shionogi & Co., Ltd. n/a n/a n/a n/a n/a n/a n/a
Target
  Edwards Lifesciences Corp n/a 2,824.491 23.98 21.63 2.70 2.63 8.35
Datascope Corporation n/a 554.072 23.88 23.01 1.48 n/a 2.13
ABIOMED, Inc. n/a 416.102 n/a -12.52 8.22 8.22 18.00
AngioDynamics, Inc. n/a 402.993 n/a 32.46 4.24 3.60 3.64
Merit Medical Systems, Inc. n/a 338.712 27.53 23.13 1.78 1.54 2.43
DURECT Corporation n/a 322.622 n/a -9.73 14.74 12.35 10.57
Delcath Systems, Inc. n/a 91.811 n/a n/a n/a n/a 11.34

- 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
  Beckman Coulter, Inc. n/a 4,095.928 21.92 19.76 1.62 1.49 48.65
Human Genome Sciences n/a 1,436.130 n/a -6.26 55.76 35.96 6.71
XOMA Limited n/a 438.464 n/a -12.59 14.86 8.29 n/a
Dyax Corp. n/a 223.253 n/a -3.86 17.47 14.10 10.13
Target
  QAD Inc. n/a 313.154 41.03 33.48 1.33 1.22 6.82
Enturia, Inc. 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
  Thermo Fisher Scientific Inc. 81.00% 22,167.247 84.96 21.24 4.07 2.34 n/a
Medarex, Inc. 1.00% 1,795.144 n/a -10.13 36.91 37.48 3.22

- 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
Overlap
  The Cleveland Clinic Foundation n/a n/a n/a n/a n/a n/a n/a
Buyer
  Johnson & Johnson n/a 186,667.352 18.09 15.92 3.37 3.09 n/a
Novartis AG (ADR) n/a 137,235.137 25.15 17.27 3.60 3.62 3.39
Amgen, Inc. n/a 73,874.670 24.14 15.36 5.01 4.86 15.38
Eli Lilly & Co. n/a 67,520.389 28.90 17.50 4.17 3.80 7.40
Thermo Fisher Scientific Inc. n/a 22,167.247 84.96 21.24 4.07 2.34 n/a
MedImmune, Inc. n/a 13,537.284 83.72 66.59 10.00 9.27 10.63
Amylin Pharmaceuticals, Inc. n/a 5,481.328 n/a -28.79 9.13 6.78 8.87
Henry Schein, Inc. n/a 4,825.433 29.47 20.89 0.94 0.80 9.01
Beckman Coulter, Inc. n/a 4,095.928 21.92 19.76 1.62 1.49 48.65
Medarex, Inc. n/a 1,795.144 n/a -10.13 36.91 37.48 3.22
Human Genome Sciences n/a 1,436.130 n/a -6.26 55.76 35.96 6.71
PSS World Medical, Inc. n/a 1,379.970 28.89 28.49 0.80 0.79 6.00
Incyte Corporation n/a 640.863 n/a -7.46 23.18 22.50 n/a
Neurocrine Biosciences, Inc. n/a 449.186 n/a -4.53 11.45 40.31 1.43
XOMA Limited n/a 438.464 n/a -12.59 14.86 8.29 n/a
Lexicon Pharmaceuticals, Inc. n/a 284.648 n/a -4.76 3.91 3.63 4.77
Dyax Corp. n/a 223.253 n/a -3.86 17.47 14.10 10.13
Compugen Ltd. (USA) n/a 83.586 n/a n/a 390.90 n/a 3.27
The Cleveland Clinic Foundation n/a n/a n/a n/a n/a n/a n/a
Cincinnati Children's Hospital Medical Center n/a n/a n/a n/a n/a n/a n/a
Target
  King Pharmaceuticals, Inc. n/a 5,125.736 17.74 12.89 2.58 2.56 3.89
Enturia, Inc. n/a n/a n/a n/a n/a n/a n/a
The Cleveland Clinic Foundation n/a n/a n/a n/a n/a n/a n/a
Kimal PLC 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 313.0 499.8 812.8
Other Revenue 0.0 0.0 0.0
Total Revenue 313.0 499.8 812.8
Cost of Revenue 96.7 250.8 347.5
SG&A Expense 99.7 133.7 233.4
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 52.9 27.4 80.3
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 0.0 0.0
Unusual Expense (Income) 3.1 0.8 3.9
Total Expenses 252.4 412.6 665.0
Operating Income 60.6 87.2 147.8
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 3.7 4.3 8.0
Other, Net 0.0 -0.7 -0.7
Income Before Taxes 64.3 90.8 155.2
Income Taxes 25.6 30.4 55.9
Income After Taxes 38.7 60.5 99.2
Net Income - Excl. Xord. Items 38.7 60.5 99.2
Net Income - Incl. Xord. Items 38.7 60.5 99.2
Income Avail. to Common 38.7 60.5 99.2
Share Items
Basic Avg. Shares Outstanding 17.1 45.1 62.1
Basic EPS - Excl. Xord. Items 2.27 1.34 1.60
Basic EPS - Incl. Xord. Items 2.27 1.34 1.60
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 17.1 45.6 62.7
F.D. EPS - Excl. Xord. Items 2.27 1.33 1.58
F.D. EPS - Incl. Xord. Items 2.27 1.33 1.58
Dividends Per Common Share 0.00 0.72 0.72
Balance Sheet
Assets
Cash and Equivalents 98.9 149.4 248.3
ST Investments 0.0 23.3 23.3
Accounts Receivable 33.2 102.8 135.9
Inventory 32.7 107.3 140.0
Prepayments and Advances 0.0 10.0 10.0
Other Current Assets 13.7 19.1 32.8
Current Assets 178.4 411.8 590.3
PPE 0.0 376.6 376.6
Accum D&A 0.0 -198.2 -198.2
PPE, Net 157.7 178.4 336.1
Goodwill & Intangibles 8.9 85.5 94.4
Other Assets 0.0 0.0 0.0
Other LT Assets 15.3 44.2 59.5
Total Assets 360.3 719.9 1,080.2
Liabilities
Accounts Payable 0.0 20.1 20.1
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 0.0 37.1 37.1
ST Debt 0.0 70.2 70.2
Curr Port of LTD & Cap Lease Oblg 0.0 1.0 1.0
Other (Current) Liabilities 39.8 13.6 53.4
Current Liab. 39.8 142.0 181.8
LT Debt 0.0 0.0 0.0
Total LT Debt 0.0 0.0 0.0
Deferred Taxes 0.0 12.9 12.9
Other LT Liab. 13.5 19.7 33.2
Total Liabilities 53.3 174.6 227.9
Shareholders Equity
Common Stock 0.0 45.7 45.7
Additional Paid in Capital 0.0 41.6 41.6
Retained Earnings 0.0 497.4 497.4
Treasure Stock 0.0 -51.6 -51.6
Other Equity 307.0 12.3 319.4
Total Equity 307.0 545.4 852.4
Total Liab. & Equity 360.3 719.9 1,080.2
Shares Outstanding 16.0 45.1 61.1
Cash Flow
Operating Cash Flow
CF Net Income n/a 60.5 60.5
CF Depreciation n/a 20.7 20.7
CF Amortization n/a 7.6 7.6
CF Deferred Taxes n/a 0.8 0.8
Other Non-Cash Items n/a 7.8 7.8
Change in Working Capital n/a -1.0 -1.0
Total Cash From Operating Activities n/a 96.3 96.3
Investing Cash Flow (not calculated)
Capital Expenditures n/a -41.0 -41.0
Other Investing Cash Flows n/a -31.5 -31.5
Total Cash From Investing Activities n/a -72.5 -72.5
Financing Cash Flow (not calculated)
Dividends Paid n/a -30.5 -30.5
Purchase Or Sale of Stock n/a 6.2 6.2
Purchase and Retirement of Debt n/a 30.4 30.4
Other Financing Cash Flow n/a 0.8 0.8
Total Cash From Financing Activities n/a 6.9 6.9
Exchange Rate Effects n/a 1.9 1.9
Net Change in Cash n/a 32.6 32.6
Cash Taxes Paid n/a 32.3 32.3
Cash Interest Paid n/a 0.8 0.8