Summary

Other Scenarios:

Buyer: Altana AG (ADR) (AAA) Last Price: 60.77 Market Cap.: 8.25B
Target: King Pharmaceuticals, Inc. (KG) Last Price: 16.28 Market Cap.: 3.96B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 870
Biopharmaceuticals 330
Medical Devices   247
Outsourced Services   66
Manufacturing   1,180
Materials   444

- 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: 29)
  • Omnaris (Nasal Spray Ciclesonide)
  • Metronidazole Topical Cream
  • Erythromycin
  • Ciclopirox
Target (Total: 68)
  • Adrenalin Chloride Solution (Epinephrine)
  • Corgard (Nadolol)
  • Adenocard (Adenosine)
  • Procanbid (Procainamide Hydrochloride)
Buyer
  • ALTANA Chemie AG
Target
  • Meridian Medical Technologies Prime ECG Electrocardiac Mapping System
  • Binodenoson
  • Meridian Medical Technologies Transtelephonic Blood Pressure Monitors
  • Meridian Medical Technologies CardioBeepers

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 6)
  • GPC Biotech AG (ADR) (GPCB)
  • 3M Company (MMM)
  • Rockwood Holdings, Inc. (ROC)
  • inVentiv Health Inc. (VTIV)
Target (Total: 4)
  • sanofi-aventis (ADR) (SNY)
  • Palatin Technologies, Inc. (PTN)
  • DepoMed, Inc. (DEPO)
  • Inyx, Inc. (IYXI)
Buyer (Total: 3)
  • Wyeth (WYE)
  • sanofi-aventis (ADR) (SNY)
  • CollaGenex Pharmaceutical, Inc (CGPI)
Target (Total: 8)
  • McKesson Corporation (MCK)
  • AmerisourceBergen Corp. (ABC)
  • Cardinal Health, Inc. (CAH)
  • QLT Inc. (USA) (QLTI)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 4,485 2,795
Revenue Per Employee 128,882.7 704,366.9
Total Revenue 414.1 491.7
Total Expenses 360.8 368.5
Other Revenue 0.0 0.0
Cost of Revenue 260.4 106.5
SG&A Expense 83.8 163.1
Research & Development 20.3 38.4
Other Operating Expense -3.8 0.0
Operating Income 53.4 123.2
Unusual Income 0.0 22.7
LT Debt to Capital 1.32 15.12
Fwd P/E n/a 9.72
Fwd P/Rev n/a 2.06
Book Value 2,844.3 2,246.3
Curr Portion of LTD/Cap Lease 373.5 4.3

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals

Target

Focused (): *Healthcare > Biopharmaceuticals

Business Description

Buyer

ALTANA AG (ALTANA) is a globally operating company that develops, manufactures and markets pharmaceutical and chemical products for a range of targeted, highly specialized applications. The Company operates in two segments: pharmaceuticals and chemicals. ALTANA's pharmaceuticals division develops therapeutics for the global pharmaceuticals markets with a focus on unmet medical needs in the gastrointestinal and respiratory areas. The pharmaceuticals business is mainly driven by Pantoprazole. ALTANA's chemicals division offers a portfolio of specialty chemicals, including additives and measuring instruments, metallic effect pigments and printing inks, coatings and sealing compounds, and electrical insulation coatings for use in a range of downstream applications. On October 1, 2005, ALTANA acquired ECKART GmbH & Co. KG. During the year ended December 31, 2005, it sold its Austrian subsidiary Rembrandtin Lack Ges.m.b.H. In October 2005, the Company acquired Kelstar International.

Target

King Pharmaceuticals, Inc. (King) is a vertically integrated pharmaceutical company that develops, manufactures, markets and sells branded prescription pharmaceutical products. The Company operates through five segments: Branded pharmaceuticals, Meridian Medical Technologies, Royalties, Contract manufacturing and other. King's branded pharmaceutical products can be divided primarily into six therapeutic areas: cardiovascular/ metabolic (including Altace, Corgard, Levoxyl and Cytomel); neuroscience (including Sonata and Skelaxin), hospital/ acute care (including Thrombin-JMI, Bicillin, Synercid and Intal), and other. Meridian Medical Technologies segment consists of its auto-injector business, which includes EpiPen. In March 2006, the Company acquired the rights to market and sell EpiPen throughout Canada until 2015. In addition, the Company manufactures pharmaceutical products under contracts with a variety of pharmaceutical and biotechnology companies.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 50.66 80.34
Operating Margin % 13.69 11.24
Quick Ratio 1.74 2.03
Current Ratio 2.45 2.65
Coverage Ratio 0 0.09
Total Assets 4,960.7 3,247.5
Return on Equity % 7.7 7
Return on Assets % 4.42 4.84
Cash+ ST Inv. Per Share 1.26 3.78
Total Debt 411.6 404.3
Total Debt to Equity % 14.47 18
Total Debt to Tangible Equity % 18.86 33.68
Debt to Asset % 8.30 12.45

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.
  
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.
Ophthalmology
The Ophthalmology Subsector includes therapeutics that treat eye disorders, infections, inflammations and irritations.
  
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.
  
Toxicology
The Toxicology Subsector includes therapeutics that treat harmful effects from exposure to toxic substances; narcotics, nicotine and alcohol withdrawal therapeutics are also included in this sector.
  
Urology
The Urology Subsector includes therapeutics that treat diseases of the kidney, urinary tract, bladder, and the male reproductive system.
  
Wound Management
The Wound Management Subsector includes therapeutics that treat cuts, abrasions, and burns from trauma or diseases.
  
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.
  
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.
  
Radiology
The Radiology Subsector includes medical devices that generate images of internal physiology.
  
Outsourced Services  
Development/Manufacturing Services
The Development/Manufacturing Services Subsector includes companies that provide research, development, manufacturing, sales and marketing to biopharmaceutical and medical device companies.
  
Manufacturing  
Materials  
Chemicals
The Chemicals Subsector includes companies that manufacture basic, intermediate, specialty, and performance chemicals.
  

- 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
Systemic  
Anaphylactic Shock  
Alpha Adrenergic Receptor Agonists/Beta Adrenergic Receptor Agonists
Therapeutics that treat allergic shock by stimulating alpha and beta adrenergic receptors.

Target Products:

  • Adrenalin Chloride Solution (Epinephrine)
  
Upper Respiratory  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation using a steroidal compound.

Buyer Products:

  • Omnaris (Nasal Spray Ciclesonide)
  
Cardiovascular System  
Heart Disorders  
Angina  
Beta Adrenergic Receptor Blocking Agents (Beta Blockers)
Therapeutics that treat chest pains by inhibiting stimulation of beta adrenergic receptors of the heart muscle.

Target Products:

  • Corgard (Nadolol)
  
Arrhythmia  
Adenosine A1 Receptor Agonists
Therapeutics that treat abnormal rhythm of the heart beat by selectively stimulating the A1 adenosine receptor, slowing the speed of AV nodal conduction

Target Products:

  • Adenocard (Adenosine)
  
Sodium Channel Blocking Agents
Therapeutics that treat abnormal rhythm of the heart by preventing the entry of sodium into heart muscle cells.

Target Products:

  • Procanbid (Procainamide Hydrochloride)
  
Heart Failure (HF)  
Angiotensin Converting Enzyme Inhibitors (ACE Inhibitors)
Therapeutics that treat the ineffective pumping of the heart by inhibiting the renin-angiotensin system.

Target Products:

  • Altace (Ramipril)
  
Complications  
Edema  
Thiazide Diuretic Agents
Therapeutics that treat the accumulation of fluid by increasing the excretion of sodium, potassium ions, and water in urine.

Target Products:

  • Thalitone (Chlorthalidone)
  
Vascular Disorders  
Hypertension  
Angiotensin Converting Enzyme Inhibitors (ACE Inhibitors)
Therapeutics that treat high blood pressure by inhibiting the renin-angiotensin system.

Target Products:

  • Altace (Ramipril)
  
Beta Adrenergic Receptor Blocking Agents (Beta Blockers)
Therapeutics that treat high blood pressure by blocking the beta adrenergic receptors of the heart muscle.

Target Products:

  • Corgard (Nadolol)
  
Beta Receptor Blocking Agents (Beta Blockers)/Thiazide Diuretic Agents
Therapeutics that treat high blood pressure by blocking the beta adrenergic receptors of the heart muscle and increasing the excretion of sodium ions, potassium ions, and water through urine.

Target Products:

  • Corzide (Nadolol/Bendroflumethiazide)
  
Thiazide Diuretic Agents
Therapeutics that treat high blood pressure by increasing the excretion of sodium, potassium ions, and water in urine.

Target Products:

  • Thalitone (Chlorthalidone)
  
Dermatology
Acne  
Rosacea  
Emollients
Therapeutics that treat chronic inflammatory disorder of the face characterized by redness and pimple formation by moisturizing and softening the skin.

Buyer Products:

  • Metronidazole Topical Cream
  
Vulgaris  
Antibacterial Agents  
Macrolides
Therapeutics that treat acne vulgaris caused by bacterial infection by inhibiting RNA-dependent bacterial protein synthesis.

Buyer Products:

  • Erythromycin
  
Lesion/Scaling Disorders
Dermatitis  
Atopic (Eczema)  
Emollients
Topical therapeutics that soothe and soften the skin.

Buyer Products:

  • Metronidazole Topical Cream
  
Seborrheic (Dandruff)  
Antifungal Agents  
Imidazoles
Therapeutics that treat and prevent skin diseases caused by fungi.

Buyer Products:

  • Ciclopirox
  • Ketoconazole
  
Dermatoses
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation by inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site.

Buyer Products:

  • Mometasone Furoate Cream
  • Fluticasone Propionate
  • Fluocinonide E Cream
  • Alclometasone Dipropionate
  • Betamethasone Dipropionate Cream
  • Mometasone Furoate Topical Solution
  • Aclovate (Alclometasone Dipropionate)
  • Cutivate (Fluticasone Propionate)
  • Temovate (Clobetasol Propionate)
  
Steroidal Anti-Inflammatory Drugs (SAID)/Antibacterial Agents (Antibiotic)
Therapeutics that counteract or suppress inflammation by inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site, as well as prevent the growth of bacteria.

Target Products:

  • Cortisporin (Neomycin/Polymyxin B Sulfates/Hydrocortisone Acetate) Cream/Ointment
  
Digestive System
Gastrointestinal Tract Disorders
Gastroduodenal Disorders  
Zollinger-Ellison Syndrome  
Proton Pump Inhibitors
Therapeutics that treat ulcers by inhibiting the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Protonix (Pantoprazole Sodium)
  
Gastroesophageal Disorders
Acid Indigestion/Heartburn  
Proton Pump Inhibitors
Therapeutics that treat heartburn by inhibiting the action of the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Protonix (Pantoprazole Sodium)
  
Erosive Esophagitis  
Proton Pump Inhibitors
Therapeutics that treat Erosive Esophagus by inhibiting the actions of receptors responsible for triggering acid release into the stomach.

Buyer Products:

  • Protonix (Pantoprazole Sodium)
  
Gastroesophageal Reflux Disease (GERD)  
Proton Pump Inhibitors
Therapeutics that treat Gastroesophageal Reflux Disease by inhibiting the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Protonix (Pantoprazole Sodium)
  
Nausea/Vomiting  
Antiemetic Agents
Therapeutics that treat nausea or vomiting by acting locally on the hyperactive gastrointestinal wall.

Target Products:

  • Tigan (Trimethobenzamide Hydrochloride)
  
Liver Disorders  
Cirrhosis  
Complications  
Edema  
Thiazide Diuretic Agents
Therapeutics that treat the accumulation of abnormally large amounts of fluid in subcutaneous tissue by increasing the excretion of sodium, potassium ions, and water in urine.

Target Products:

  • Thalitone (Chlorthalidone)
  
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.

Buyer Products:

  • Soraprazan
  
Endocrinology/Metabolism  
Adrenal Gland Disorders  
Adrenocortical Insufficiency  
Synthetic Adrenocortical Steroids
Therapeutics that treat Adrenocortical Insufficiency by acting on the distal tubules of the kidney to enhance the reabsorption of sodium ions and to increase the urinary excretion of both potassium and hydrogen ions.

Target Products:

  • Florinef (Fludrocortisone Acetate)
  
Diabetes  
Induced Complications  
Central Diabetes Insipidus  
Antidiuretic Agents
Therapeutics that treat prevent the lose of water in the urine.

Target Products:

  • Pitressin (Vasopressin)
  
General Hormone Treatments  
Estrogens
Therapeutics that treat hormonal disorders by providing estrogen.

Target Products:

  • Delestrogen (Estradiol Valerate Injection, USP)
  • Menest (Esterified Estrogens Tablets)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of endocrinology disorders in early stages of clinical research where human subject is involved.

Target Products:

  • MRE0094 (Adenosine A2a Receptor Agonist)
  
Pituitary Gland Disorders  
Pituitary Hyperthyroidism (TSH-Induced)  
Thyroid Hormones
Hormones that affect the rate of cell metabolism and blood calcium levels.

Target Products:

  • Levoxyl (Levothyroxine Sodium)
  
Reproductive Disorders  
Hypogonadism  
Female  
Hormonal Treatments  
Estrogens
Therapeutics that are female sex hormones.

Target Products:

  • Menest (Esterified Estrogens Tablets)
  
Menopause  
Estrogens
Therapeutics that are female sex hormones.

Target Products:

  • Menest (Esterified Estrogens Tablets)
  
Thyroid Gland Disorders  
Hyperthyroidism  
Thyroid Hormone Synthesis Inhibitors
Therapeutics that stop the production of thyroid hormones.

Target Products:

  • Tapazole (Methimazole)
  
Hypothyroidism  
Thyroid Hormones
Therapeutics that treat a deficiency in thyroid activity by supplementing thyroid hormones.

Target Products:

  • Levoxyl (Levothyroxine Sodium)
  • Triostat (Liothyronine Sodium)
  • Cytomel (Liothyronine Sodium)
  
Infectious Diseases
Bacterial
Antibacterial Agents
Broad Spectrum
Antibiotics
Aminoglycosides
Therapeutics that treat a wide variety of infections by inhibiting bacterial protein synthesis.

Buyer Products:

  • Gentamicin

Target Products:

  • Coly-Mycin M Parenteral (Colistimethate Sodium)
Carbacephems
Therapeutics that treat a wide variety of infections by inhibiting bacterial cell wall synthesis.

Target Products:

  • Lorabid (Loracarbef)
  
Macrolides
Therapeutics that treat a wide variety of infections by inhibiting RNA-dependent bacterial protein synthesis.

Buyer Products:

  • Erythromycin
  
Penicillin Derivatives
Therapeutics that treat a wide variety of infections by inhibiting bacterial cell wall synthesis during active multiplication.

Target Products:

  • Bicillin C-R/C-R 900/300/C-R Pediatric (Penicillin G Benzathine/Penicillin G Procaine Injectable Suspension)
  • Bicillin L-A/L-A Pediatric (Penicillin G Benzathine Injectable Suspension)
  • Penicillin G Procaine Injectable Suspension
  
Pseudominic Acids
Therapeutics that treat a wide variety of infections by inhibiting bacterial protein synthesis and RNA synthesis.

Buyer Products:

  • Mupirocin Ointment
  
Quinolones/Fluoroquinolones
Therapeutics that treat a wide variety of infections by promoting breakage of bacterial DNA strands.

Target Products:

  • Synercid (Quinupristin/Dalfopristin)
  
Narrow Spectrum
Dermatology  
Dermatoses  
Steroidal Anti-Inflammatory Drugs (SAID)/Antibacterial Agents (Antibiotics)
Therapeutics that treat bacterial infections of the skin with a steroidal compound and a compound that kills or inhibits the growth of bacteria.

Target Products:

  • Cortisporin (Neomycin/Polymyxin B Sulfates/Hydrocortisone Acetate) Cream/Ointment
  
Skin/Soft Tissue Infections  
Sulfonamides
Therapeutics that treat specific bacterial infections by inhibiting folic acid synthesis.

Target Products:

  • Silvadene (Silver Sulfadiazine)
  
Musculoskeletal System  
Skin/Soft Tissue Infections  
Sulfonamides
Therapeutics that treat bacterial infections of non-skeletal tissue usually involving fat, muscle, and skin by inhibiting folic acid synthesis.

Target Products:

  • Silvadene (Silver Sulfadiazine)
  
Ophthalmology  
Ocular Infections  
Aminoglycosides/Polypeptides
Therapeutics that treat bacterial infections of the eye by inhibiting bacterial protein synthesis and damaging the cell membrane.

Target Products:

  • Neosporin Ophthalmic (Neomycin Sulfate B/Polymyxin Sulfate B/Gramicidin) Ointment/Solution Sterile
  
Aminoglycosides/Polypeptides/Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat bacterial infections of the eye by inhibiting bacterial protein synthesis, damaging the cell membrane, and suppressing the full immune response.

Target Products:

  • Cortisporin Opthalmic (Neomycin/Polymyxin B Sulfates/Bacitracin Zinc/Hydrocortisone) Ointment/Suspension Sterile
  
Polypeptides
Therapeutics that treat bacterial infections of the eye by damaging the cell membrane.

Target Products:

  • Polysporin (Bacitracin Zinc/Polymyxin B Sulfate)
  
Otolaryngology (Ear/Nose/Throat)  
External Ear Canal Infections  
Steroidal Anti-Inflammatory Drugs (SAID)/Antibacterial Agents (Antibiotic)
Therapeutics that treat bacterial infections of the external auditory canal with a steroidal compound and by killing or inhibiting the growth of microorganisms.

Target Products:

  • Cortisporin-TC Otic (Colistin Sulfate/Neomycin Sulfate/Thonzonium Bromide/Hydrocortisone Acetate)
  • Cortisporin Otic (Neomycin/Polymyxin B Sulfate/Hydrocortisone) Solution/Suspension Sterile
  • Coly-Mycin S Otic (Colistin Sulfate/Neomycin Sulfate/Thonzonium Bromide/Hydrocortisone Acetate)
  • Pediotic Suspension Sterile (Neomycin/Polymyxin B Sulfates/Hydrocortisone)
  
Otitis Media  
Diaminopyrimidines/Sulfonamides
Therapeutics that treat bacterial infections leading to inflammation of the middle ear inhibiting certain enzymes that are vital for bacterial DNA transcription and repair.

Target Products:

  • Septra (Sulfamethoxazole/Trimethoprim) IV Infusion/Tablets/Suspension
  
Respiratory System  
Bronchitis  
Diaminopyrimidines/Sulfonamides
Therapeutics that treat bacterial infections leading to inflammation of the bronchi in the lungs by inhibiting certain enzymes that are vital for bacterial DNA transcription and repair.

Target Products:

  • Septra (Sulfamethoxazole/Trimethoprim) IV Infusion/Tablets/Suspension
  
Pneumonia  
Diaminopyrimidines/Sulfonamides
Therapeutics that treat inflammation of the lungs caused by bacterial infection by inhibiting folic acid synthesis and bacterial growth.

Target Products:

  • Septra (Sulfamethoxazole/Trimethoprim) IV Infusion/Tablets/Suspension
  
Urology
Urinary Tract Infections (UTI)  
Antibacterial Agents (Antibiotics)  
Aminoglycosides
Therapeutics that treat bacterial infections of the urethra, urinary bladder, ureters, and kidneys by inhibiting bacterial protein synthesis.

Target Products:

  • Neosporin G.U. Irrigant (Neomycin Sulfate/Polymyxin B Sulfate)
  
Diaminopyrimidines/Sulfonamides
Therapeutics that treat bacterial infections of the urinary tract by inhibiting dihydrofolate reductase resulting in decreased bacterial nucleic acid/protein production.

Target Products:

  • Septra (Sulfamethoxazole/Trimethoprim) IV Infusion/Tablets/Suspension
  
Trimethoprim
Therapeutics that treat bacterial infections of the urethra, urinary bladder, ureters, and kidneys by blocking the action of bacterial dihydrofolate reductase.

Target Products:

  • Proloprim (Trimethoprim) Tablets
  
Vaginitis  
Lincosamides
Therapeutics that treat inflammation of the mucous membrane of the vagina caused by bacterial infection by inhibiting bacterial protein synthesis.

Buyer Products:

  • Clindamycin Phosphate Vaginal Cream
  • Clindamycin Phosphate Topical Solution
  
Mycological (Fungal)  
Antifungal Agents  
Broad Spectrum  
Azoles  
Imidazoles
Therapeutics that treat fungal infections by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ketoconazole
  
Narrow Spectrum  
Dermatology  
Candidiasis  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the skin caused by yeast by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ketoconazole
  
Tinea Corporis (Ringworm)  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the skin characterized by scaly, red rings by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ciclopirox
  • Ketoconazole
  • Oxistat (Oxiconazole Nitrate)
  
Tinea Cruris (Jock Itch)  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the groin and perineum by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Oxistat (Oxiconazole Nitrate)
  • Ciclopirox
  • Ketoconazole
  
Tinea Pedis  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the feet by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ketoconazole
  • Ciclopirox
  • Oxistat (Oxiconazole Nitrate)
  
Tinea Versicolor  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of skin exposed to the sun characterized by patches of depigmentation by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ketoconazole
  • Ciclopirox
  
Digestive System  
Mucous  
Candidiasis  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the secretory lining of the tissues caused by a yeast by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ketoconazole
  
Protozoal  
Antiprotozoal Agents  
Narrow Spectrum  
Amebiasis  
Aminoglycosides
Therapeutics that treat infections by an amoeba by inhibiting protozoal protein synthesis.

Target Products:

  • Humatin (Paramomycin Sulfate)
  
Viral  
DNA Viruses  
Herpesvirus  
Herpes Simplex Type 1  
Viral DNA Polymerase Inhibitors
Therapeutics that treat viral infections characterized by recurrent cold sores and fever blisters by inhibiting replication of viral DNA blocking the action of an essential enzyme.

Target Products:

  • Viroptic Ophthalmic Solution (Trifluridine)
  
Herpes Simplex Type 2  
Viral DNA Polymerase Inhibitors
Therapeutics that treat viral infections characterized by recurring outbreaks of painful genital lesions by inhibiting replication of viral DNA by blocking the action of an essential enzyme.

Target Products:

  • Viroptic Ophthalmic Solution (Trifluridine)
  
Musculoskeletal System  
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.

Target Products:

  • Delestrogen (Estradiol Valerate Injection, USP)
  
Neurology  
Neurological Disorders  
Epilepsy  
Status Epilepticus  
Gamma-Aminobutyric Acid (GABA) Receptor Agonists
Therapeutics that treat status epilepticus by enhancing the inhibitory neurotransmitter action of gamma-aminobutyric acid.

Target Products:

  • Vanquix (Diazepam Auto-Injection)
  
Neuromuscular Disorders  
Parkinson`s Disease (PD)  
Adjunctive Treatments  
Cholinergic Receptor Blocking Agents
Therapeutics that assist in the treatment of the disorder involving nerve cell loss in portions of the brain that leads to uncontrolled tremors, abnormal posture and speech problems by blocking acetylcholine receptors on neurons.

Target Products:

  • Kemadrin (Procyclidine Hydrochloride)
  
Psychiatric Disorders  
Sleep Disorders  
Insomnia  
Gamma-Aminobutyric Acid (GABA) Receptor Agonists
Therapeutics that treat insomnia by enhancing the inhibitory action of gamma-aminobutyric acid.

Target Products:

  • Sonata CIV (Zaleplon)
  
Obstetrics/Gynecology  
Child Birth/Pregnancy  
Induction/Cervical Ripening  
Oxytocic Agents
Therapeutics that induce contractions by increasing the levels of intracellular calcium in the uterine smooth muscle thus mimicking uterine contractions and transiently impeding uterine blood flow.

Target Products:

  • Pitocin (Oxytocin)
  
Female Genital Disorders  
Ovarian  
Hypogonadism  
Hormonal Treatments  
Estrogens
These are female sex hormones.

Target Products:

  • Menest (Esterified Estrogens Tablets)
  • Delestrogen (Estradiol Valerate Injection, USP)
  
Vulvovaginal  
Atrophy  
Hormonal Treatments  
Estrogens
Therapeutics that treat disorders characterized by thinning of the vaginal walls with the female sex hormone estrogen.

Target Products:

  • Delestrogen (Estradiol Valerate Injection, USP)
  • Menest (Esterified Estrogens Tablets)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of female reproductive disorders in early stages of clinical research where human subject is involved.

Target Products:

  • Bremelanotide/PT-141 (Alpha Melanocyte-Stimulating Hormone Analog)
  
Oncology
Breast Cancer  
Palliative Agents  
Hormonal Treatments  
Estrogens
Therapeutics that treat and manage breast cancer in post-menopausal women by providing female hormones.

Target Products:

  • Menest (Esterified Estrogens Tablets)
  
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.

Buyer Products:

  • Oncology Program
  
Urology  
Prostate Cancer  
Palliative Agents  
Estrogens
Therapeutics that treat and manage prostate cancer by inhibiting the secretion of luteinizing hormone and affecting the testes so as to decrease serum concentrations of testosterone but are not curative.

Target Products:

  • Menest (Esterified Estrogens Tablets)
  
Ophthalmology  
Degenerative Disorders  
Irritation/Inflammation  
Antibacterial Agents (Antibiotics)
Therapeutics that treat infections by inhibiting bacterial replication.

Target Products:

  • Polysporin (Bacitracin Zinc/Polymyxin B Sulfate)
  • Neosporin Ophthalmic (Neomycin Sulfate B/Polymyxin Sulfate B/Gramicidin) Ointment/Solution Sterile
  
Antibacterial Agents/Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat infections by inhibiting bacterial replication as well as prevent cells that cause inflammation from adhering to the inflammation site.

Target Products:

  • Cortisporin Opthalmic (Neomycin/Polymyxin B Sulfates/Bacitracin Zinc/Hydrocortisone) Ointment/Suspension Sterile
  
Pain Management  
Anesthesia  
General (Systemic)  
Adjunctive  
Acetylcholine Blocking Agents
Therapeutics that inhibit neuromuscular activity by competing with acetylcholine at the cholinergic receptors resulting in neuromuscular blockage.

Target Products:

  • Ketalar CIII (Ketamine Hydrochloride)
  
Barbiturates
Therapeutics that result in anesthesia due to a general sedative effect by enhancing the response to gamma aminobutyric acid and decrease excitability by directly suppressing conduction in the brain.

Target Products:

  • Brevital Sodium C-IV (Methohexital Sodium)
  
Primary  
Barbiturates
Therapeutics that result in anesthesia due to a general sedative effect by enhancing the response to gamma aminobutyric acid and decrease excitability by directly suppressing conduction in the brain.

Target Products:

  • Brevital Sodium C-IV (Methohexital Sodium)
  
Narcotics  
Opioids
Therapeutics that treat pain by binding to certain nervous system receptors which alter both the perception of pain as well as the emotional response to pain.

Target Products:

  • Remoxy (Time-Release Oxycodone)
  • Avinza (Morphine Sulfate ER Capsules)
  
Non-Narcotics  
Skeletal Muscle Relaxing Agents
Therapeutics that treat pain by depressing specific synaptic reflexes preferentially.

Target Products:

  • Skelaxin (Metaxalone)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of pain in early stages of clinical research where human subject is involved.

Target Products:

  • PTI-202
  • T-62
  
Respiratory System
Lower Respiratory Tract Disorders (Lung Disorders)
Asthma
Acute Treatments
Bronchodilators
Alpha Adrenergic Receptor Agonists/Beta Adrenergic Receptor Agonists
Therapeutics that cause dilation of the lung passages by supporting the actions of the adrenergic transmitters like epinephrine and norepinephrine.

Target Products:

  • Adrenalin Chloride Solution (Epinephrine)
  
Phosphodiesterase Inhibitors (PDE Inhibitors)
Therapeutics that inhibit the break down of phosphodiesters thereby increasing levels of Nitric Oxide which help in dilating the blood vessels in the lungs.

Buyer Products:

  • Daxas (Roflumilast)

Target Products:

  • Quibron-T / Quibron-T/SR (Theophylline - Accudose)
Prophylactic Treatments
Mast Cell Stabilizers
Therapeutics that treat asthma by inhibiting mast cell degranulation.

Target Products:

  • Intal HFA (Cromolyn Sodium)
  • Tilade (Nedocromil Sodium)
  
Phosphodiesterase Inhibitors (PDE Inhibitors)
Therapeutics that inhibit the break down of phosphodiesters thereby increasing levels of Nitric Oxide which help in relaxing smooth muscles in the lungs.

Buyer Products:

  • Daxas (Roflumilast)

Target Products:

  • Quibron-T / Quibron-T/SR (Theophylline - Accudose)
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat asthma by reducing inflammation in the lung passages with steroids.

Buyer Products:

  • Alvesco (Ciclesonide)
  • Alvesco (Metered Dose Inhaler Ciclesonide)
  
Bronchitis  
Complications  
Bacterial Infections  
Antibacterial Agents (Antibiotics)  
Diaminopyrimidines/Sulfonamides
Therapeutics that treat bacterial infections by inhibiting certain enzymes that are vital for bacterial DNA transcription and repair.

Target Products:

  • Septra (Sulfamethoxazole/Trimethoprim) IV Infusion/Tablets/Suspension
  
Prophylactic Treatments  
Phosphodiesterase Inhibitors (PDE Inhibitors)
Therapeutics that inhibit the break down of phosphodiesters thereby increasing levels of Nitric Oxide which help in relaxing smooth muscles in the lungs.

Target Products:

  • Quibron-T / Quibron-T/SR (Theophylline - Accudose)
  
Bronchospasm  
Bronchodilators  
Alpha Adrenergic Receptor Agonists/Beta Adrenergic Receptor Agonists
Therapeutics that cause dilation of the lung passages by supporting the actions of the adrenergic transmitters like epinephrine and norepinephrine.

Target Products:

  • Adrenalin Chloride Solution (Epinephrine)
  
Chronic Obstructive Pulmonary Disease (COPD)  
Acute Treatments  
Phosphodiesterase Inhibitors (PDE Inhibitors)
Therapeutics that inhibit the break down of phosphodiesters thereby increasing levels of Nitric Oxide which help in relaxing smooth muscles in the lungs.

Buyer Products:

  • Daxas (Roflumilast)
  
Prophylactic Treatments  
Phosphodiesterase Inhibitors (PDE Inhibitors)
Therapeutics that are used to prevent COPD attacks by inhibiting the break down of phosphodiesters thereby increasing levels of Nitric Oxide which help in relaxing smooth muscles in the lungs.

Buyer Products:

  • Daxas (Roflumilast)
  
Emphysema  
Prophylactic Treatments  
Phosphodiesterase Inhibitors (PDE Inhibitors)
Therapeutics that inhibit the break down of phosphodiesters thereby increasing levels of Nitric Oxide which help in relaxing smooth muscles in the lungs.

Target Products:

  • Quibron-T / Quibron-T/SR (Theophylline - Accudose)
  
Respiratory Distress Syndrome (RDS)  
Surfactants
Therapeutics that treat RDS by modifying alveolar surface tension and thereby stabilizing the alveoli.

Buyer Products:

  • Venticute
  
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.

Buyer Products:

  • Ciclesonide/Formoterol Combination Therapy
  • Alvesco (Dry Powder Inhaler Ciclesonide)
  
Upper Respiratory Tract Disorders  
Coughs/Colds  
Anticholinergic Agents/Opioids
Therapeutics that treat coughs and colds by relieving pain and fever as well as suppressing cough.

Target Products:

  • Tussigon Tablets CIII (Hydrocodone Bitartrate/Homatropine Methylbromide)
  
Decongestants/Antitussives
Therapeutics that treat coughs and colds by reducing mucous build up and suppressing the cough.

Target Products:

  • Nucofed Capsules/Syrup CIII (Codeine Phosphate/Pseudoephedrine Hydrochloride)
  
Decongestants/Antitussives/Expectorants
Therapeutics that treat coughs and colds by reducing mucous build up, suppressing coughs and helping in the ejection of the mucous.

Target Products:

  • Nucofed Expectorant/Pediatric Expectorant (Codeine Phosphate/Pseudoephedrine Hydrochloride/Guaifenesin)
  
Surgery  
General  
Hemorrhage  
Coagulating Agents (Coagulants)
Therapeutics that treat bleeding during a surgical procedure by promoting blood clotting.

Target Products:

  • Thrombin JMI
  
Toxicology  
Chemical Poisoning  
Nerve Gas  
Anticholinergic Agents
Therapeutics that treat toxicity due to nerve agent/gas by antagonizing the muscarine-like actions of acetylcholine and other choline esters.

Target Products:

  • AtroPen (Atropine)
  • Meridian Medical Technologies Duodote (Atropine/Pralidoxime Chloride Injection)
  
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.

Target Products:

  • Bremelanotide/PT-141 (Alpha Melanocyte-Stimulating Hormone Analog)
  
Urological Disorders  
Kidney (Renal)  
Chronic Renal Failure (CRF)  
Complications  
Edema  
Thiazide Diuretic Agents
Therapeutics that treat the accumulation of abnormally large amounts of fluid in subcutaneous tissue by increasing the excretion of sodium, potassium ions, and water in urine.

Target Products:

  • Thalitone (Chlorthalidone)
  
Renal Insufficiency  
Angiotensin Converting Enzyme Inhibitors (ACE Inhibitors)
Therapeutics that delay or treat kidney disease by inhibiting the renin-angiotensin system.

Target Products:

  • Altace (Ramipril)
  
Wound Management  
Burns  
Complications  
Infections  
Antibacterial Agents (Antibiotics)  
Sulfonamides
Therapeutics that treat bacterial infections in injuries caused by fire or excessive heat by inhibiting folic acid synthesis.

Target Products:

  • Silvadene (Silver Sulfadiazine)
  
Antifungal Agents  
Sulfonamides
Therapeutics that treat fungal infections in injuries caused by fire or excessive heat by inhibiting folic acid synthesis.

Target Products:

  • Silvadene (Silver Sulfadiazine)
  
Medical Devices  
Cardiology  
Diagnostic  
Monitoring  
Monitors  
Electrocardiogram (ECG/EKG)  
Interpretive/Analysis
Specialized electrocardiogram devices that facilitate certain diagnostic functions and analysis.

Target Products:

  • Meridian Medical Technologies Prime ECG Electrocardiac Mapping System
  
Stress/Exercise Test
Instruments used to evaluate the cardiopulmonary system during exercise.

Target Products:

  • Binodenoson
  
Telemetry  
Telemetry Systems
Complete systems or devices used to facilitate transfer of vitals monitoring data from the patient's site to a central monitor.

Target Products:

  • Meridian Medical Technologies Transtelephonic Blood Pressure Monitors
  • Meridian Medical Technologies CardioBeepers
  
Clinical Diagnostics  
Immunoassays  
Reagents  
Test Kits  
Bacterial  
Tuberculosis
Immunoassay test kits which quantitatively measure tuberculosis antibody in plasma or serum.

Target Products:

  • Aplisol (Tuberculin Purified Protein Derivative)
  
Drug Delivery  
Percutaneous (Subcutaneous/Intramuscular/Intravenous)  
Automatic Injectors
Pen-shaped medical devices used to contain and deliver liquid medications to a specified needle depth with a press of a button.

Target Products:

  • Meridian Medical Technologies Auto-Injector Technology
  
Radiology  
Nuclear  
Gamma Camera  
Contrast Agents  
Radionuclides  
Adjuncts
Radioactive materials that are introduced to the body for nuclear imaging purposes.

Target Products:

  • Adenoscan
 
Outsourced Services  
Development/Manufacturing Services  
Chemistry Services
Outsourced companies that provide medicinal chemistry, organic synthesis, process research, cGMP synthesis, and analytical services to the biopharmaceutical industry.

Target Products:

  • Meridian Medical Technologies Contract Development Services
  
Contract Manufacturing Organizations (CMO)  
Medical Devices
Contract Manufacturing Organizations that manufacture (and/or design, develop) medical devices and products for other organizations.

Target Products:

  • Meridian Medical Technologies Contract Manufacturing Services
  
Pharmaceuticals  
Active/Intermediate Chemicals
Intermediate and active ingredient contract manufacturing organizations that produce large quantities of small molecule compounds for use in final dosage forms.

Target Products:

  • King Pharmaceuticals Contract Manufacturing Services
  • Meridian Medical Technologies Contract Manufacturing Services
  
Biologics
Active Ingredient Contract Manufacturing Organizations (CMO) that manufacture antibodies, proteins, and genetic materials.

Target Products:

  • King Pharmaceuticals Contract Manufacturing Services
  
Manufacturing  
Materials  
Chemicals  
Basic and Intermediate Chemicals  
Dyes and Pigments
Includes companies engaged in the manufacturing of dyes and pigments.

Buyer Products:

  • ALTANA Chemie AG
  
Specialty and Performance Chemicals  
Additives  
Lubricant Additives
Includes companies engaged in the manufacturing of lubricant additives, chemicals added to lubricants to impart specific beneficial properties or to enhance performance.

Buyer Products:

  • ALTANA Chemie AG
  
Other Performance Additives
Includes companies engaged in the manufacturing of other performance additives, chemicals added to a variety of materials to impart specific beneficial properties or to enhance performance.

Buyer Products:

  • ALTANA Chemie AG
  
Polymer Additives
Includes companies engaged in the manufacturing of polymer additives, chemicals added to polymers to impart specific beneficial properties or to enhance performance.

Buyer Products:

  • ALTANA Chemie AG
  
Adhesives, Sealants, Coatings and Paints  
Adhesives and Sealants  
Building and Construction Adhesives and Sealants
Includes companies engaged in the manufacturing of building and construction adhesives and sealants.

Buyer Products:

  • ALTANA Chemie AG
  
Industrial Adhesives and Sealants
Includes companies engaged in the manufacturing of other industrial adhesives and sealants.

Buyer Products:

  • ALTANA Chemie AG
  
Coatings and Paints  
Coatings
Includes companies engaged in the manufacturing of coatings used in a wide range of industries.

Buyer Products:

  • ALTANA Chemie AG
  
Other Specialty and Performance Chemicals  
Electronic Materials
Materials used to manufacture electronic products such as printed circuit boards. Materials include laminates and specialty foams.

Buyer Products:

  • ALTANA Chemie AG
  

- 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
  GlaxoSmithKline plc (ADR) n/a 149,540.389 14.29 14.90 3.29 3.50 14.48
Medicis Pharmaceutical Corporation n/a 1,997.403 n/a 46.34 6.04 5.64 8.28
Buyer
  General Electric Company n/a 385,110.639 22.41 18.29 2.42 2.29 14.85
Roche Holding Ltd. (ADR) n/a 154,398.687 34.26 24.41 5.58 n/a 8.47
Target
  Pfizer Inc. n/a 184,875.794 14.65 12.47 3.83 3.83 7.92
GlaxoSmithKline plc (ADR) n/a 149,540.389 14.29 14.90 3.29 3.50 14.48
sanofi-aventis (ADR) n/a 123,912.610 32.64 14.45 3.32 3.48 n/a
Wyeth n/a 68,910.588 16.92 16.20 3.47 3.42 6.56
Bristol Myers Squibb Co. n/a 50,367.902 22.71 24.61 2.69 2.82 10.43
Forest Laboratories, Inc. n/a 16,311.277 22.38 19.07 5.13 4.89 6.18
Shire plc (ADR) n/a 10,523.837 37.77 36.32 5.96 5.95 12.24
Biovail Corporation (USA) n/a 3,276.926 15.73 8.21 3.12 3.20 7.15
Watson Pharmaceuticals, Inc. n/a 2,703.106 43.01 22.76 1.52 1.44 2.39
Medicis Pharmaceutical Corporation n/a 1,997.403 n/a 46.34 6.04 5.64 8.28
Cubist Pharmaceuticals, Inc. n/a 997.048 n/a 154.00 5.69 5.10 338.44
Sciele Pharma Inc. n/a 814.257 18.26 19.77 2.90 2.85 12.82
Vanda Pharmaceuticals Inc. n/a 533.440 n/a -5.90 n/a n/a 14.44
Impax Laboratories Inc. n/a 517.590 443.08 23.53 4.59 n/a 8.82
Omrix Biopharmaceuticals, Inc. n/a 463.541 27.66 21.91 8.58 7.87 10.30
Neurocrine Biosciences, Inc. n/a 347.018 n/a -2.86 7.90 10.86 1.06
Somaxon Pharmaceuticals, Inc. n/a 255.712 n/a -5.28 n/a 41.38 4.35
Achillion Pharmaceuticals, Inc. n/a 228.974 n/a -12.62 33.27 32.87 78.82
Lannett Company, Inc. n/a 161.351 32.95 23.03 2.23 1.85 2.51
Avigen, Inc. n/a 140.812 n/a -5.43 11.63 1,332.95 2.06
Medicure Inc. (USA) n/a 129.688 n/a n/a 158.82 n/a 15.15

- 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) 97.00% 711.171 n/a n/a 27.14 n/a 7.05
3M Company n/a 57,664.827 16.78 17.35 2.57 2.54 8.88
Rockwood Holdings, Inc. n/a 1,891.100 23.43 17.68 0.58 0.57 n/a
inVentiv Health Inc. n/a 965.894 19.15 23.73 1.32 1.28 n/a
Nanophase Technologies Corporation n/a 122.512 n/a -27.79 14.84 13.76 7.21
Bracco S.p.A. n/a n/a n/a n/a n/a n/a n/a
Target
  sanofi-aventis (ADR) n/a 123,912.610 32.64 14.45 3.32 3.48 n/a
Palatin Technologies, Inc. n/a 149.364 n/a -5.10 7.64 4.03 14.79
DepoMed, Inc. n/a 134.439 n/a -3.76 17.51 11.12 n/a
Inyx, 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
  Wyeth 11.40% 68,910.588 16.92 16.20 3.47 3.42 6.56
sanofi-aventis (ADR) n/a 123,912.610 32.64 14.45 3.32 3.48 n/a
CollaGenex Pharmaceutical, Inc n/a 225.480 n/a -6.06 14.01 9.79 10.70
Target
  McKesson Corporation 27.00% 15,147.693 18.34 18.80 0.17 0.16 3.72
AmerisourceBergen Corp. 14.00% 8,918.669 19.07 18.60 0.15 0.14 5.74
Cardinal Health, Inc. n/a 26,305.528 25.23 19.08 0.32 0.30 7.81
QLT Inc. (USA) n/a 660.017 n/a 26.55 3.53 3.82 2.04
Salix Pharmaceuticals Ltd n/a 626.030 42.56 20.87 3.18 3.06 3.65
Vascular Solutions, Inc. n/a 117.429 n/a -51.07 2.89 2.68 8.64
Government - United States n/a n/a n/a n/a n/a n/a n/a
Merck KGaA n/a n/a n/a n/a n/a n/a n/a

- 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
  sanofi-aventis (ADR) n/a 123,912.610 32.64 14.45 3.32 3.48 n/a
Wyeth n/a 68,910.588 16.92 16.20 3.47 3.42 6.56
Buyer
  Roche Holding Ltd. (ADR) n/a 154,398.687 34.26 24.41 5.58 n/a 8.47
sanofi-aventis (ADR) n/a 123,912.610 32.64 14.45 3.32 3.48 n/a
Wyeth n/a 68,910.588 16.92 16.20 3.47 3.42 6.56
3M Company n/a 57,664.827 16.78 17.35 2.57 2.54 8.88
Solvay SA (ADR) n/a 12,061.013 12.15 n/a 1.00 n/a 4.21
Invitrogen Corporation n/a 2,708.846 n/a 19.16 2.15 2.17 n/a
GPC Biotech AG (ADR) n/a 711.171 n/a n/a 27.14 n/a 7.05
Target
  sanofi-aventis (ADR) n/a 123,912.610 32.64 14.45 3.32 3.48 n/a
Wyeth n/a 68,910.588 16.92 16.20 3.47 3.42 6.56
Eli Lilly & Co. n/a 61,694.231 19.09 17.13 4.03 3.93 4.73
Barr Pharmaceuticals, Inc. n/a 5,484.312 17.92 16.27 4.10 3.47 4.41
Arrow International, Inc. n/a 1,596.757 28.51 23.57 3.32 3.02 3.65
QLT Inc. (USA) n/a 660.017 n/a 26.55 3.53 3.82 2.04
Salix Pharmaceuticals Ltd n/a 626.030 42.56 20.87 3.18 3.06 3.65
Pain Therapeutics, Inc. n/a 417.885 47.66 41.71 7.94 6.47 5.14
Palatin Technologies, Inc. n/a 149.364 n/a -5.10 7.64 4.03 14.79
DepoMed, Inc. n/a 134.439 n/a -3.76 17.51 11.12 n/a
Vascular Solutions, Inc. n/a 117.429 n/a -51.07 2.89 2.68 8.64
Inyx, Inc. n/a n/a n/a n/a n/a n/a n/a
Suntory Group n/a n/a n/a n/a n/a n/a n/a
United Research Laboratories and Mutual Pharmaceutical Company n/a n/a n/a n/a n/a n/a n/a
Merck KGaA n/a n/a n/a n/a n/a n/a n/a
Astellas Pharma Inc. 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 2,412.1 1,898.9 4,310.9
Other Revenue 0.0 0.0 0.0
Total Revenue 2,412.1 1,898.9 4,310.9
Cost of Revenue 1,190.1 373.2 1,563.3
SG&A Expense 684.4 642.2 1,326.6
Depreciation & Amortization 0.0 145.1 145.1
Research & Development 236.2 123.9 360.2
Interest Expense 0.0 0.0 0.0
Other Operating Expense -29.0 -0.2 -29.2
Unusual Expense (Income) 0.0 401.2 401.2
Total Expenses 2,081.8 1,685.4 3,767.2
Operating Income 330.3 213.5 543.8
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 0.0 18.6 18.6
Other, Net -7.5 -0.6 -8.1
Income Before Taxes 322.8 231.4 554.3
Income Taxes 103.8 74.1 177.9
Income After Taxes 219.0 157.3 376.4
Minority Interest (IS) -0.4 0.0 -0.4
U.S. GAAP Adjustment -13.1 0.0 -13.1
Net Income - Excl. Xord. Items 205.5 157.3 362.9
Discontinued Operations 431.9 0.1 432.0
Net Income - Incl. Xord. Items 637.4 157.4 794.9
Income Avail. to Common 637.4 157.4 794.9
Share Items
Basic Avg. Shares Outstanding 136.0 242.3 378.3
Basic EPS - Excl. Xord. Items 1.51 0.65 0.96
Basic EPS - Incl. Xord. Items 4.69 0.65 2.10
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 136.0 242.8 378.8
F.D. EPS - Excl. Xord. Items 1.51 0.65 0.96
F.D. EPS - Incl. Xord. Items 4.69 0.65 2.10
Dividends Per Common Share 1.40 0.00 1.40
Balance Sheet
Assets
Cash and Equivalents 171.5 138.1 309.6
ST Investments 0.0 779.5 779.5
Accounts Receivable 480.2 255.7 735.9
Inventory 261.7 186.8 448.5
Prepayments and Advances 0.0 102.4 102.4
Other Current Assets 0.0 69.2 69.2
Current Assets 913.4 1,531.6 2,445.0
Accum D&A 0.0 0.0 0.0
PPE, Net 656.8 303.8 960.6
Goodwill & Intangibles 661.9 1,046.0 1,707.8
Long Term Investments 199.4 13.5 213.0
Other Assets 2,502.6 0.0 2,502.6
Other LT Assets 26.7 352.6 379.3
Total Assets 4,960.7 3,247.5 8,208.3
Liabilities
Accounts Payable 0.0 80.8 80.8
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 0.0 471.7 471.7
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 373.5 4.3 377.7
Other (Current) Liabilities 0.0 20.6 20.6
Current Liab. 373.5 577.4 950.9
LT Debt 38.1 400.0 438.1
Total LT Debt 38.1 400.0 438.1
Minority Interest (BS) 2.5 0.0 2.5
Deferred Taxes 77.5 0.0 77.5
Other LT Liab. 1,624.8 23.9 1,648.7
Total Liabilities 2,116.4 1,001.3 3,117.7
Shareholders Equity
Common Stock 0.0 1,238.5 1,238.5
Additional Paid in Capital 0.0 0.0 0.0
Retained Earnings 0.0 1,006.9 1,006.9
Other Equity 2,844.3 0.8 2,845.1
Total Equity 2,844.3 2,246.3 5,090.6
Total Liab. & Equity 4,960.7 3,247.5 8,208.3
Shares Outstanding 136.0 243.1 379.1
Cash Flow
Operating Cash Flow
CF Net Income 0.0 0.0 0.0
CF Depreciation 0.0 0.0 0.0
CF Deferred Taxes 0.0 0.0 0.0
Other Non-Cash Items 0.0 -1.2 -1.2
Change in Working Capital 613.3 413.1 1,026.4
Total Cash From Operating Activities 613.3 411.9 1,025.2
Investing Cash Flow (not calculated)
Capital Expenditures 0.0 -95.7 -95.7
Other Investing Cash Flows -856.9 -316.7 -1,173.6
Total Cash From Investing Activities -856.9 -412.3 -1,269.3
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock 0.0 7.0 7.0
Purchase and Retirement of Debt 0.0 61.6 61.6
Other Financing Cash Flow 89.4 -10.4 79.0
Total Cash From Financing Activities 89.4 58.2 147.6
Exchange Rate Effects 0.3 0.0 0.3
Net Change in Cash -154.0 57.8 -96.1
Cash Taxes Paid 300.0 107.2 407.1
Cash Interest Paid 6.3 10.6 16.9