Summary

Other Scenarios:

Buyer: Pharmion Corporation (PHRM) Last Price: 72.32 Market Cap.: 2.71B
Target: Vertex Pharmaceuticals Incorporated (VRTX) Last Price: 16.06 Market Cap.: 2.14B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 918
Biopharmaceuticals 375

- 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.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 5)
  • Innohep (Tinzaparin Sodium)
  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Oral Azacitidine
  • Vidaza (Azacitidine)
Target (Total: 18)
  • VX-765 (ICE Inhibitor)
  • Telaprevir (Oral Hepatitis C Protease Inhibitor)
  • VX-500 (Protease Inhibitor)
  • Merimempodib/VX-497 (IMPDH Inhibitor)
Buyer

n/a
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 6)
  • GPC Biotech AG (ADR) (GPCB)
  • Celgene Corporation (CELG)
  • salesforce.com, inc. (CRM)
  • MethylGene Inc. (MYG:CA)
Target (Total: 3)
  • BioMed Realty Trust, Inc. (BMR)
  • Pharsight Corporation (PHST)
  • Avalon Pharmaceuticals, Inc. (AVRX)
Buyer (Total: 4)
  • US Oncology, Inc.
  • Cardinal Health, Inc. (CAH)
  • McKesson Corporation (MCK)
  • Government - United Kingdom
Target (Total: 7)
  • GlaxoSmithKline plc (ADR) (GSK)
  • Merck & Co., Inc. (MRK)
  • Novartis AG (ADR) (NVS)
  • Cystic Fibrosis Foundation Therapeutics, Inc.

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 513 1,132
Revenue Per Employee 558,770.6 180,678.8
Total Revenue 71.5 51.0
Total Expenses 102.6 142.7
Other Revenue 0.0 0.0
Cost of Revenue 19.7 3.7
SG&A Expense 50.0 23.5
Research & Development 30.4 115.3
Other Operating Expense 0.0 0.0
Operating Income -31.2 -91.7
Unusual Income 0.0 0.3
LT Debt to Capital 0 0
Fwd P/E -395.28 -5.55
Fwd P/Rev 7.21 9.87
Book Value 358.9 271.3
Curr Portion of LTD/Cap Lease 0.0 37.0

Individual Company Summary

Focused

Buyer

Focused (): Healthcare > Biopharmaceuticals > Oncology

Target

Sector Pure-Play (): Healthcare > Biopharmaceuticals

Business Description

Buyer

Pharmion Corporation is a global pharmaceutical company that acquires, develops and commercializes products for the treatment of hematology and oncology patients. The Company has established a portfolio of approved products and product candidates focused on the hematology and oncology markets. These include Pharmion?s primary commercial products, Vidaza (azacitidine for injection), which it markets and sells as an approved treatment for myelodysplastic syndromes in the United States, Switzerland, Israel and the Philippines. and Thalidomide Pharmion 50 milligram (Thalidomide Pharmion), a therapy for the treatment of multiple myeloma and certain other forms of cancer, which it sells on a compassionate use or named patient basis in certain countries of Europe. Thalidomide Pharmion is approved in Australia, New Zealand, Turkey, Israel, South Korea and Thailand for the treatment of multiple myeloma. In January 2008, Celgene Corporation has cleared its pending acquisition of Pharmion.

Target

Vertex Pharmaceuticals Incorporated (Vertex) is a biotechnology company in the business of discovering, developing and commercializing small molecule drugs for the treatment of serious diseases. Telaprevir, lead drug candidate, is an oral hepatitis C protease inhibitor and one of the advanced of a new class of antiviral treatments in clinical development that target hepatitis C virus (HCV), infection. Vertex?s other drug candidates are VX-770 and VX-809, two drug candidates targeting cystic fibrosis, or CF; VX-500 and VX-813, two second-generation HCV protease inhibitors; and VX-509, a janus kinase 3, or JAK3, inhibitor that targets immune-mediated inflammatory diseases, or IMID. The Company also includes several drug candidates that are being developed by its collaborators.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 72.66 93.01
Operating Margin % -25.91 -210.94
Quick Ratio 3.64 2.47
Current Ratio 4 2.49
Coverage Ratio -0.15 -0.07
Total Assets 443.3 601.5
Return on Equity % -17.79 -144.23
Return on Assets % -14.4 -65.05
Cash+ ST Inv. Per Share 6.67 3.53
Total Debt 0.0 37.0
Total Debt to Equity % 0 13.65
Total Debt to Tangible Equity % 0 13.65
Debt to Asset % 0.00 6.16

Product Summary

Sector Buyer Target
Healthcare
Biopharmaceuticals
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.
  
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.
  
Oncology
The Oncology Subsector includes therapeutics that treat and manage various types of cancer and related complications.
Pain Management
The Pain Management Subsector includes therapeutics that treat and management pain.
  
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.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  

- 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
Cardiovascular System  
Vascular Disorders  
Deep Vein Thrombosis (DVT)  
Anticoagulating Agents (Anticoagulants)  
Thrombin Inhibitors
Therapeutics that prevent or treat clots in blood vessels by preventing blood clots from forming.

Buyer Products:

  • Innohep (Tinzaparin Sodium)
  
Thromboembolism  
Anticoagulating Agents (Anticoagulants)  
Thrombin Inhibitors
Therapeutics that treat the obstruction of a blood vessel by preventing blood clots from forming.

Buyer Products:

  • Innohep (Tinzaparin Sodium)
  
Dermatology  
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.

Target Products:

  • VX-765 (ICE Inhibitor)
  
Digestive System  
Liver Disorders  
Hepatitis  
Hepatitis C  
Chronic  
Protease Inhibitors
Therapeutics that treat hepatitis by binding to and blocking the action of protease, an enzyme necessary for viral replication.

Target Products:

  • Telaprevir (Oral Hepatitis C Protease Inhibitor)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of digestive disorders in early stages of clinical research where human subject is involved.

Target Products:

  • VX-500 (Protease Inhibitor)
  • Merimempodib/VX-497 (IMPDH Inhibitor)
  • Telaprevir (Oral Hepatitis C Protease Inhibitor)
  • VX-813 (Protease Inhibitor)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of digestive disorders in very early stages of research where no human subject is involved.

Target Products:

  • VX-166 (Capsase Inhibitor)
  • VX-813 (Protease Inhibitor)
  
Hematology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of hematological disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Oral Azacitidine
  
White Blood Cell (WBC) Disorders  
Myelodysplastic Syndromes (MDS)  
Antimetabolite Agents  
Pyrimidine Analogs
Therapeutics that treat and manage rmyelodysplastic syndrome by interfering with the production of DNA.

Buyer Products:

  • Vidaza (Azacitidine)
  
Immunology  
Immune Deficiency Disorders  
Human Immunodeficiency Virus (HIV)/Acquired Immune Deficiency Syndrome (AIDS)  
Protease Inhibitors
Therapeutics that help manage HIV by binding to and blocking the action of HIV protease, an enzyme necessary for viral replication.

Target Products:

  • Lexiva (Fosamprenavir Calcium )
  • Agenerase (Amprenavir)
  
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.

Target Products:

  • VX-765 (ICE Inhibitor)
  • VX-702 (p38 MAP Kinase Inhibitor)
  
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.

Target Products:

  • VX-509 (Janus Kinase (JAK) Inhibitor)
  • AVN-944/VX-944 (Inosine 5' Monophosphate Dehydrogenase Inhibitor (IMPDH Inhibitor))
  
Infectious Diseases  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of infectious diseases in early stages of clinical research where human subject is involved.

Target Products:

  • VX-770 (Cystic Fibrosis Transmembrane Regulator)
  • Telaprevir (Oral Hepatitis C Protease Inhibitor)
  • VX-500 (Protease Inhibitor)
  • Merimempodib/VX-497 (IMPDH Inhibitor)
  
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.

Target Products:

  • VX-692 (Gyrase Inhibitor)
  • VX-813 (Protease Inhibitor)
  • VX-883 (Gyrase Inhibitor)
  
Viral  
RNA Viruses  
Flavivirus  
Hepatitis C  
Chronic  
Protease Inhibitors
Therapeutics that treat hepatitis by binding to and blocking the action of protease, an enzyme necessary for viral replication.

Target Products:

  • Telaprevir (Oral Hepatitis C Protease Inhibitor)
  
Retrovirus  
Human Immunodeficiency Virus (HIV)/Acquired Immune Deficiency Syndrome (AIDS)  
Protease Inhibitors
Therapeutics that help manage HIV by binding to and blocking the action of HIV protease, an enzyme necessary for viral replication.

Target Products:

  • Lexiva (Fosamprenavir Calcium )
  • Agenerase (Amprenavir)
  
Musculoskeletal System  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of skeletal system disorders in early stages of clinical research where human subject is involved.

Target Products:

  • VX-702 (p38 MAP Kinase Inhibitor)
  
Oncology
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:

  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Vidaza (Azacitidine)
  • Oral Azacitidine

Target Products:

  • MK-0457/VX-680 (Aurora Kinase Inhibitor)
  • AVN-944/VX-944 (Inosine 5' Monophosphate Dehydrogenase Inhibitor (IMPDH Inhibitor))
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer and are currently in an early research or preclinical stage of development.

Target Products:

  • VX-689 ( Aurora Kinase Inhibitor)
  
Respiratory System/Thoracic  
Lung Cancer  
Small Cell Lung Cancer (SCLC)  
Topoisomerase II Inhibitors
Therapeutics that treat and manage cancers of the small cells in the lung by inhibiting a specific enzyme, topoisomerase II, needed for transcription and replication of DNA.

Buyer Products:

  • Amrubicin (Anthracycline)
  
Pain Management  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of pain in very early stages of research where no human subject is involved.

Target Products:

  • VX-409 (Selective Sodium Channels Modulator)
  
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:

  • VX-809
  • VX-770 (Cystic Fibrosis Transmembrane Regulator)
  
Surgery  
Musculoskeletal System  
Deep Vein Thrombosis (DVT)  
Anticoagulating Agents (Anticoagulants)  
Thrombin Inhibitors
Therapeutics that treat vascular obstructions due to platelets and cell matter by blocking an enzyme involved in the clotting process.

Buyer Products:

  • Innohep (Tinzaparin Sodium)
  

- 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
Overlap
  Pfizer Inc. n/a 144,347.120 17.73 9.11 2.98 3.03 6.24
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
Buyer
  Pfizer Inc. n/a 144,347.120 17.73 9.11 2.98 3.03 6.24
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
Target
  Johnson & Johnson n/a 174,233.403 16.47 14.11 2.85 2.79 11.97
Roche Holding Ltd. (ADR) n/a 162,161.754 18.24 19.03 3.86 3.93 5.53
Pfizer Inc. n/a 144,347.120 17.73 9.11 2.98 3.03 6.24
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
Novartis AG (ADR) n/a 108,444.656 9.08 13.48 2.78 2.71 3.88
Abbott Laboratories n/a 78,894.465 21.88 16.18 3.04 2.85 40.89
Wyeth n/a 55,284.879 11.98 12.11 2.47 2.48 4.04
Amgen, Inc. n/a 48,051.405 15.18 10.82 3.25 3.28 14.57
Gilead Sciences, Inc. n/a 45,235.974 28.00 24.90 10.69 8.79 13.07
Bristol Myers Squibb Co. n/a 43,309.011 20.00 12.88 2.24 2.02 10.23
Schering-Plough Corporation n/a 32,021.742 0.00 13.35 2.52 1.78 72.12
Valeant Pharmaceuticals International n/a 1,184.671 0.00 19.86 1.36 1.33 n/a
ViroPharma Incorporated n/a 594.518 6.23 9.59 2.92 2.99 1.59
InterMune, Inc. n/a 542.952 0.00 -5.68 8.14 12.89 n/a
Array BioPharma Inc. n/a 292.836 0.00 -3.10 8.77 9.31 4.06
Idenix Pharmaceuticals, Inc. n/a 264.091 0.00 -6.76 3.88 8.13 4.78
Inspire Pharmaceuticals, Inc. n/a 250.864 0.00 -4.40 5.15 3.52 n/a
Ariad Pharmaceuticals, Inc. n/a 226.411 0.00 -2.87 63.25 17.95 n/a
MiddleBrook Pharmaceuticals, Inc. n/a 187.687 0.00 -8.89 17.94 n/a n/a
Altus Pharmaceuticals Inc. n/a 117.818 0.00 -1.82 0.00 17.45 n/a
EPIX Pharmaceuticals, Inc. n/a 117.576 0.00 -1.96 7.86 3.11 n/a

- 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
  GPC Biotech AG (ADR) 66.00% 123.561 0.00 -1.04 3.95 3.84 1.63
Celgene Corporation n/a 22,917.366 101.21 38.96 16.30 11.48 8.45
salesforce.com, inc. n/a 6,759.538 368.29 174.97 9.03 6.62 16.14
MethylGene Inc. n/a 87.304 0.00 n/a 6.00 n/a 1.75
Ben Venue Laboratories, Inc. n/a n/a n/a n/a n/a n/a n/a
Ash Stevens, Inc. n/a n/a n/a n/a n/a n/a n/a
Target
  BioMed Realty Trust, Inc. 12.90% 1,418.770 25.49 11.09 5.33 4.95 1.03
Pharsight Corporation n/a 44.598 0.00 29.56 1.59 1.58 5.07
Avalon Pharmaceuticals, Inc. n/a 34.904 0.00 -1.35 23.88 41.83 1.12

- 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
  US Oncology, Inc. 19.00% n/a n/a n/a n/a n/a n/a
Cardinal Health, Inc. 11.00% 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation 9.00% 16,575.105 17.63 17.42 0.17 0.16 5.60
Government - United Kingdom n/a n/a n/a n/a n/a n/a n/a
Target
  GlaxoSmithKline plc (ADR) 20.00% 115,986.006 11.18 10.85 2.57 2.53 15.20
Merck & Co., Inc. 16.80% 90,400.858 27.60 12.73 3.74 3.70 5.64
Novartis AG (ADR) 8.10% 108,444.656 9.08 13.48 2.78 2.71 3.88
Cystic Fibrosis Foundation Therapeutics, Inc. 5.80% n/a n/a n/a n/a n/a n/a
Kissei Pharmaceuticals Co., Ltd. 3.00% n/a n/a n/a n/a n/a n/a
Mitsubishi Chemical Holdings Corporation 1.60% n/a n/a n/a n/a n/a n/a
Johnson & Johnson n/a 174,233.403 16.47 14.11 2.85 2.79 11.97

- 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 144,347.120 17.73 9.11 2.98 3.03 6.24
Celgene Corporation n/a 22,917.366 101.21 38.96 16.30 11.48 8.45
Cardinal Health, Inc. n/a 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation n/a 16,575.105 17.63 17.42 0.17 0.16 5.60
GPC Biotech AG (ADR) n/a 123.561 0.00 -1.04 3.95 3.84 1.63
MethylGene Inc. n/a 87.304 0.00 n/a 6.00 n/a 1.75
US Oncology, Inc. n/a n/a n/a n/a n/a n/a n/a
LEO Pharma A/S n/a n/a n/a n/a n/a n/a n/a
Ash Stevens, Inc. n/a n/a n/a n/a n/a n/a n/a
Dainippon Sumitomo Pharma Co., Ltd. n/a n/a n/a n/a n/a n/a n/a
Ben Venue Laboratories, Inc. n/a n/a n/a n/a n/a n/a n/a
Nippon Shinyaku Co., Ltd. n/a n/a n/a n/a n/a n/a n/a
Target
  Johnson & Johnson n/a 174,233.403 16.47 14.11 2.85 2.79 11.97
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
Novartis AG (ADR) n/a 108,444.656 9.08 13.48 2.78 2.71 3.88
Merck & Co., Inc. n/a 90,400.858 27.60 12.73 3.74 3.70 5.64
Senomyx Inc. n/a 178.465 0.00 -8.09 9.79 7.88 3.15
Altus Pharmaceuticals Inc. n/a 117.818 0.00 -1.82 0.00 17.45 n/a
Avalon Pharmaceuticals, Inc. n/a 34.904 0.00 -1.35 23.88 41.83 1.12
Mitsubishi Chemical Holdings Corporation n/a n/a n/a n/a n/a n/a n/a
Cystic Fibrosis Foundation Therapeutics, Inc. n/a n/a n/a n/a n/a n/a n/a
Kissei Pharmaceuticals Co., Ltd. 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 267.3 199.0 466.3
Other Revenue 0.0 0.0 0.0
Total Revenue 267.3 199.0 466.3
Cost of Revenue 73.1 13.9 87.0
SG&A Expense 143.2 84.7 227.9
Depreciation & Amortization 9.9 0.0 9.9
Research & Development 102.4 513.1 615.4
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 0.0 0.0
Unusual Expense (Income) 8.0 7.1 15.1
Total Expenses 336.5 618.8 955.4
Operating Income -69.2 -419.8 -489.0
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 10.2 28.5 38.7
Other, Net 0.0 0.0 0.0
Income Before Taxes -59.1 -391.3 -450.4
Income Taxes 4.8 0.0 4.8
Income After Taxes -63.9 -391.3 -455.1
Net Income - Excl. Xord. Items -63.9 -391.3 -455.1
Net Income - Incl. Xord. Items -63.9 -391.3 -455.1
Income Avail. to Common -63.9 -391.3 -455.1
Share Items
Basic Avg. Shares Outstanding 37.3 130.7 168.0
Basic EPS - Excl. Xord. Items n/a n/a -2.71
Basic EPS - Incl. Xord. Items n/a n/a -2.71
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 37.3 130.7 168.0
F.D. EPS - Excl. Xord. Items n/a n/a -2.71
F.D. EPS - Incl. Xord. Items n/a n/a -2.71
Balance Sheet
Assets
Cash and Equivalents 178.9 355.7 534.5
ST Investments 69.7 105.2 174.9
Accounts Receivable 45.0 31.3 76.3
Inventory 12.8 0.0 12.8
Prepayments and Advances 2.8 4.7 7.5
Other Current Assets 13.6 0.0 13.6
Current Assets 322.8 496.9 819.6
Accum D&A 0.0 0.0 0.0
PPE, Net 11.4 66.5 78.0
Goodwill & Intangibles 103.1 0.0 103.1
Long Term Investments 0.0 6.9 6.9
Other Assets 0.0 0.0 0.0
Other LT Assets 6.0 31.2 37.2
Total Assets 443.3 601.5 1,044.8
Liabilities
Accounts Payable 14.3 32.8 47.1
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 66.3 104.0 170.3
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 0.0 37.0 37.0
Other (Current) Liabilities 0.0 25.5 25.5
Current Liab. 80.6 199.3 279.9
LT Debt 0.0 0.0 0.0
Total LT Debt 0.0 0.0 0.0
Deferred Taxes 2.7 0.0 2.7
Other LT Liab. 1.1 130.9 132.0
Total Liabilities 84.4 330.2 414.6
Shareholders Equity
Common Stock 0.0 1.3 1.3
Additional Paid in Capital 631.7 1,856.9 2,488.6
Retained Earnings -290.7 -1,587.8 -1,878.5
Other Equity 17.9 0.9 18.8
Total Equity 358.9 271.3 630.2
Total Liab. & Equity 443.3 601.5 1,044.8
Shares Outstanding 37.4 132.9 170.2
Cash Flow
Operating Cash Flow
CF Net Income -63.9 -391.3 -455.1
CF Depreciation 12.6 27.5 40.1
CF Deferred Taxes 0.0 0.0 0.0
Other Non-Cash Items 3.2 64.0 67.3
Change in Working Capital 24.5 47.3 71.8
Total Cash From Operating Activities -23.5 -252.5 -276.0
Investing Cash Flow (not calculated)
Capital Expenditures -6.7 -32.4 -39.2
Other Investing Cash Flows 8.6 437.6 446.2
Total Cash From Investing Activities 1.8 405.2 407.0
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock 138.0 32.0 170.0
Purchase and Retirement of Debt -0.9 -42.1 -43.0
Other Financing Cash Flow 0.4 -0.1 0.3
Total Cash From Financing Activities 137.5 -10.2 127.3
Exchange Rate Effects 3.2 -0.0 3.2
Net Change in Cash 119.0 142.5 261.5
Cash Taxes Paid 3.0 0.0 3.0
Cash Interest Paid 0.2 3.8 4.0