Summary

Other Scenarios:

Buyer: King Pharmaceuticals, Inc. (KG) Last Price: 21.08 Market Cap.: 5.13B
Target: Cephalon, Inc. (CEPH) Last Price: 73.79 Market Cap.: 4.87B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 867
Biopharmaceuticals 329
Medical Devices   245
Outsourced Services 65

- 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: 70)
  • Adrenalin Chloride Solution (Epinephrine)
  • Corgard (Nadolol)
  • Adenocard (Adenosine)
  • Procanbid (Procainamide Hydrochloride)
Target (Total: 18)
  • Trisenox (Arsenic Trioxide)
  • Gabitril (Tiagabine)
  • Sparlon (Modafinil)
  • Provigil (Modafinil)
Buyer
  • Meridian Medical Technologies Prime ECG Electrocardiac Mapping System
  • Binodenoson
  • Meridian Medical Technologies CardioBeepers
  • Meridian Medical Technologies Transtelephonic Blood Pressure Monitors
Target
  • ORASOLV
  • DURASOLV
  • ORAVESCENT

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 7)
  • sanofi-aventis (ADR) (SNY)
  • Allscripts Healthcare Solutions, Inc. (MDRX)
  • DepoMed, Inc. (DEPO)
  • Vascular Solutions, Inc. (VASC)
Target (Total: 7)
  • Alkermes, Inc. (ALKS)
  • sanofi-aventis (ADR) (SNY)
  • Abbott Laboratories (ABT)
  • Novo Nordisk A/S (ADR) (NVO)
Buyer (Total: 8)
  • Cardinal Health, Inc. (CAH)
  • McKesson Corporation (MCK)
  • AmerisourceBergen Corp. (ABC)
  • Salix Pharmaceuticals, Ltd. (SLXP)
Target (Total: 4)
  • Cardinal Health, Inc. (CAH)
  • McKesson Corporation (MCK)
  • AmerisourceBergen Corp. (ABC)
  • AVANIR Pharmaceuticals (AVNR)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 2,800 2,895
Revenue Per Employee 734,747.3 670,363.5
Total Revenue 512.9 484.7
Total Expenses 470.9 441.8
Other Revenue 0.0 11.3
Cost of Revenue 113.9 67.2
SG&A Expense 185.6 215.5
Research & Development 40.7 123.6
Other Operating Expense 0.0 0.0
Operating Income 42.1 42.8
Unusual Income 93.9 5.0
LT Debt to Capital 14.88 14.66
Fwd P/E 12.82 20.17
Fwd P/Rev 2.56 2.77
Book Value 2,288.6 1,309.5
Curr Portion of LTD/Cap Lease 0.0 1,023.3

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals

Target

Focused (): *Healthcare > Biopharmaceuticals > Neurology

Business Description

Buyer

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. On February 26, 2007, the Company acquired all the rights to Avinza in the United States, its territories and Canada from Ligand Pharmaceuticals Incorporated. In February 2007, King announced that the United States Food and Drug Administration approval of its manufacturing and production facility in Rochester, Michigan, for its Bicillin product line. On January 9, 2007, king obtained a license to the hemostatic products designed for use outside of catheterization and electrophysiology laboratories by Vascular Solutions, Inc. On March 1, 2006, it acquired substantially all of the assets of Allerex Laboratory LTD.

Target

Cephalon, Inc. is an international biopharmaceutical company engaged in the discovery, development and marketing of products to treat human diseases. The Company?s focuses its efforts in four core therapeutic areas: central nervous system (CNS) disorders, pain, cancer and addiction. In addition to conducting an active research and development program, it markets six products in the United States and number of products in countries throughout Europe. The Company?s principal product is PROVIGIL (modafinil) Tablets (C-IV), which comprised approximately 43% of its total consolidated net sales during the year ended December 31, 2006, of which approximately 94% was in the United States market. Its product, ACTIQ (oral transmucosal fentanyl citrate) (C-II), accounted for approximately 34% of its total consolidated net sales during 2006, of which approximately 95% was in the United States market.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 78.89 85.43
Operating Margin % 20.28 15.93
Quick Ratio 2.05 0.57
Current Ratio 2.71 0.87
Coverage Ratio 0.06 0.02
Total Assets 3,329.5 3,045.5
Return on Equity % 12.61 11.06
Return on Assets % 8.67 4.76
Cash+ ST Inv. Per Share 4.13 8.44
Total Debt 400.0 1,248.3
Total Debt to Equity % 17.48 95.33
Total Debt to Tangible Equity % 30.39 2,534.32
Debt to Asset % 12.01 40.99

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Allergies
The Allergies Subsector includes therapeutics that treat exaggerated immune reaction induced by exposure to a foreign substance.
  
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
  
Dermatology
The Dermatology Subsector includes therapeutics that treat disorders affecting the skin.
  
Digestive System
The Digestive System Subsector includes therapeutics that treat disorders affecting the digestive system.
  
Endocrinology/Metabolism
The Endocrinology/Metabolism Subsector includes therapeutics that treat metabolic disorders and conditions resulting from the dysfunction of hormone secreting glands.
  
Hematology
The Hematology Subsector includes therapeutics that treat blood-based diseases and disorders.
  
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.
  
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.
  
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.
  
Drug Delivery Technology
The Drug Delivery Technology Subsector includes companies that develop novel delivery methods for therapeutics.
  

- 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.

Buyer Products:

  • Adrenalin Chloride Solution (Epinephrine)
  
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.

Buyer 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

Buyer 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.

Buyer 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.

Buyer 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.

Buyer Products:

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

Buyer 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.

Buyer 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.

Buyer 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.

Buyer Products:

  • Thalitone (Chlorthalidone)
  
Dermatology  
Lesion/Scaling Disorders  
Dermatoses  
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.

Buyer Products:

  • Cortisporin (Neomycin/Polymyxin B Sulfates/Hydrocortisone Acetate) Cream/Ointment
  
Digestive System  
Gastrointestinal Tract Disorders  
Gastroesophageal Disorders  
Nausea/Vomiting  
Antiemetic Agents
Therapeutics that treat nausea or vomiting by acting locally on the hyperactive gastrointestinal wall.

Buyer 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.

Buyer Products:

  • Thalitone (Chlorthalidone)
  
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.

Buyer Products:

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

Buyer Products:

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

Buyer Products:

  • Menest (Esterified Estrogens Tablets)
  • Delestrogen (Estradiol Valerate Injection, USP)
  
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.

Buyer 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.

Buyer Products:

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

Buyer Products:

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

Buyer Products:

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

Buyer Products:

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

Buyer Products:

  • Cytomel (Liothyronine Sodium)
  • Triostat (Liothyronine Sodium)
  • Levoxyl (Levothyroxine Sodium)
  
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.

Target Products:

  • Trisenox (Arsenic Trioxide)
  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Broad Spectrum  
Antibiotics  
Aminoglycosides
Therapeutics that treat a wide variety of infections by inhibiting bacterial protein synthesis.

Buyer Products:

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

Buyer Products:

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

Buyer Products:

  • Bicillin L-A/L-A Pediatric (Penicillin G Benzathine Injectable Suspension)
  • Bicillin C-R/C-R 900/300/C-R Pediatric (Penicillin G Benzathine/Penicillin G Procaine Injectable Suspension)
  • Penicillin G Procaine Injectable Suspension
  
Quinolones/Fluoroquinolones
Therapeutics that treat a wide variety of infections by promoting breakage of bacterial DNA strands.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer Products:

  • Cortisporin Otic (Neomycin/Polymyxin B Sulfate/Hydrocortisone) Solution/Suspension Sterile
  • Cortisporin-TC Otic (Colistin Sulfate/Neomycin Sulfate/Thonzonium Bromide/Hydrocortisone Acetate)
  • 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.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer Products:

  • Proloprim (Trimethoprim) Tablets
  
Protozoal  
Antiprotozoal Agents  
Narrow Spectrum  
Amebiasis  
Aminoglycosides
Therapeutics that treat infections by an amoeba by inhibiting protozoal protein synthesis.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer Products:

  • Delestrogen (Estradiol Valerate Injection, USP)
  
Neurology
Neurological Disorders
Epilepsy
Partial Seizures  
Complex  
Adjunctive Therapy  
Gamma-Aminobutyric Acid (GABA) Reuptake Inhibitors
Therapeutics that treat complex partial seizures by preventing the uptake of gamma-aminobutyric acid, which prevent nerve activation.

Target Products:

  • Gabitril (Tiagabine)
  
Simple  
Adjunctive Therapy  
Gamma-Aminobutyric Acid (GABA) Reuptake Inhibitors
Therapeutics that treat simple partial seizures by preventing the uptake of gamma-aminobutyric acid which prevents nerve activation.

Target Products:

  • Gabitril (Tiagabine)
  
Status Epilepticus  
Gamma-Aminobutyric Acid (GABA) Receptor Agonists
Therapeutics that treat status epilepticus by enhancing the inhibitory neurotransmitter action of gamma-aminobutyric acid.

Buyer 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.

Buyer Products:

  • Kemadrin (Procyclidine Hydrochloride)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of nervous system and mental disorders in early stages of clinical research where human subject is involved.

Target Products:

  • Gabitril (Tiagabine)
  
Psychiatric Disorders
Anxiety  
Generalized Anxiety Disorder (GAD)  
Gamma-Aminobutyric Acid (GABA) Reuptake Inhibitors
Therapeutics that treat anxiety by preventing the uptake of gamma-aminobutyric acid, which prevent nerve activation.

Target Products:

  • Gabitril (Tiagabine)
  
Childhood/Adolescent Disorders  
Attention Deficit Disorder (ADD)/Attention Deficit Hyperactivity Disorder (ADHD)  
Alpha Adrenergic Receptor Agonists  
Sleep Disorders
Excessive Daytime Sleepiness (EDS)  
Alpha Adrenergic Receptor Agonists
Therapeutics that treat excessive daytime sleepiness (EDS) by stimulating the adrenergic receptors, which cause nervous system stimulation.

Target Products:

  • Provigil (Modafinil)
  • Nuvigil (Armodafinil)
  
Insomnia  
Gamma-Aminobutyric Acid (GABA) Receptor Agonists
Therapeutics that treat insomnia by enhancing the inhibitory action of gamma-aminobutyric acid.

Buyer Products:

  • Sonata CIV (Zaleplon)
  
Narcolepsy  
Alpha Adrenergic Receptor Agonists
Therapeutics that treat narcolepsy by stimulating the adrenergic receptors, which causes nervous system stimulation.

Target Products:

  • Provigil (Modafinil)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of nervous system and mental disorders in very early stages of research where no human subject is involved.

Target Products:

  • VEGF Inhibitors
  • CEP-1347 (MAP3K9 Kinase Inhibitor)
  
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.

Buyer Products:

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

Buyer 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.

Buyer Products:

  • Menest (Esterified Estrogens Tablets)
  • Delestrogen (Estradiol Valerate Injection, USP)
  
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.

Buyer 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.

Buyer Products:

  • Menest (Esterified Estrogens Tablets)
  
Hematology  
Leukemia (White Blood Cell Cancer)  
Myeloid  
Acute  
Promyelocytic (APL)  
DNA Fragmenting Agents
Therapeutics that treat leukemia by breaking DNA, resulting in the death of cancer cells.

Target Products:

  • Trisenox (Arsenic Trioxide)
  
Lymphoma (Lymphatic Cancer)  
Non-Hodgkin`s Lymphoma (NHL)  
Alkylating Agents  
Nitrogen Mustard Type
Therapeutics derived from mustard gas that treat and manage lymphomas of B-cells and T-cells by interacting with DNA and inhibiting cell division.

Target Products:

  • Treanda (Bendamustine Hydrochloride)
  
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.

Target Products:

  • Trisenox (Arsenic Trioxide)
  • CEP-701(Lestaurtinib)
  
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:

  • Tie-2 Kinase Receptor Inhibitor
  • VEGF Inhibitors
  • Proteasome Inhibitors
  
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.

Buyer Products:

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

Buyer 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.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer Products:

  • Remoxy (Time-Release Oxycodone)
  • Avinza (Morphine Sulfate ER Capsules)

Target Products:

  • Actiq (Oral Transmucosal Fentanyl Citrate) [C-II]
  • Fentora (Fentanyl Buccal Tablet)
  • Actiq Sugar-Free (Oral Transmucosal Fentanyl Citrate) [C-II]
Non-Narcotics  
Skeletal Muscle Relaxing Agents
Therapeutics that treat pain by depressing specific synaptic reflexes preferentially.

Buyer 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.

Buyer Products:

  • T-62
  • PTI-202

Target Products:

  • Gabitril (Tiagabine)
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.

Buyer 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:

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

Buyer Products:

  • Tilade (Nedocromil Sodium)
  • Intal HFA (Cromolyn 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:

  • Quibron-T / Quibron-T/SR (Theophylline - Accudose)
  
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.

Buyer 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.

Buyer 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.

Buyer Products:

  • Adrenalin Chloride Solution (Epinephrine)
  
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.

Buyer Products:

  • Quibron-T / Quibron-T/SR (Theophylline - Accudose)
  
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:

  • CEP-1347 (MAP3K9 Kinase Inhibitor)
  
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.

Buyer 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.

Buyer 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.

Buyer Products:

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

Buyer 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.

Buyer Products:

  • Meridian Medical Technologies Duodote (Atropine/Pralidoxime Chloride Injection)
  • AtroPen (Atropine)
  
Substance Abuse  
Withdrawal  
Alcohol  
Opioid Antagonists
Therapeutics that treat alcohol dependence by blocking the effect of opioids.

Target Products:

  • Medisorb Vivitrol (Naltrexone)
  
Narcotics  
Opioid Antagonists
Therapeutics that treat narcotic addiction by blocking the effect of opioids.

Target Products:

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

Buyer Products:

  • 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.

Buyer Products:

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

Buyer 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.

Buyer 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.

Buyer 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.

Buyer Products:

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

Buyer 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.

Buyer Products:

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

Buyer 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.

Buyer Products:

  • Meridian Medical Technologies Auto-Injector Technology
  
General Surgery  
Invasive  
Surgical-Site Treatments  
Sealants  
Hemostatic  
Topical
Topical mixture used when conventional hemostasis procedures are not effective.

Buyer Products:

  • Thrombix
  • ThrombiGel
  
Radiology  
Nuclear  
Gamma Camera  
Contrast Agents  
Radionuclides  
Adjuncts
Radioactive materials that are introduced to the body for nuclear imaging purposes.

Buyer 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.

Buyer 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.

Buyer 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.

Buyer Products:

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

Buyer Products:

  • King Pharmaceuticals Contract Manufacturing Services
  
Drug Delivery Technology  
Oral Delivery  
Effervescents
Drug Delivery Technologies used to deliver drugs by dissolving in liquid which can then be ingested.

Target Products:

  • ORASOLV
  • DURASOLV
  
Transmucosal  
Effervescents
Drug Delivery Technologies used to deliver drugs by dissolving them in liquid which can then be ingested.

Target Products:

  • ORAVESCENT
  

- 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 190,862.049 9.87 12.42 3.95 3.98 n/a
GlaxoSmithKline plc (ADR) n/a 169,980.592 15.75 15.97 3.65 3.78 15.90
Bristol Myers Squibb Co. n/a 56,420.295 35.59 22.56 3.15 2.90 17.05
Forest Laboratories, Inc. n/a 17,504.473 22.33 19.19 5.28 5.19 5.87
Shire plc (ADR) n/a 11,191.469 40.23 31.09 6.23 5.00 11.87
Endo Pharmaceuticals n/a 4,010.888 29.10 17.85 4.41 3.86 5.13
Impax Laboratories Inc. n/a 619.938 530.69 26.25 5.50 n/a 10.57
Vanda Pharmaceuticals Inc. n/a 549.895 n/a -9.74 n/a 27.69 20.55
BioDelivery Sciences International, Inc. n/a 67.600 n/a -4.60 23.89 25.57 n/a
Buyer
  Pfizer Inc. n/a 190,862.049 9.87 12.42 3.95 3.98 n/a
GlaxoSmithKline plc (ADR) n/a 169,980.592 15.75 15.97 3.65 3.78 15.90
Target
  Pfizer Inc. n/a 190,862.049 9.87 12.42 3.95 3.98 n/a
Johnson & Johnson n/a 188,520.120 18.27 16.28 3.40 3.15 n/a
GlaxoSmithKline plc (ADR) n/a 169,980.592 15.75 15.97 3.65 3.78 15.90
Novartis AG (ADR) n/a 135,798.194 25.80 17.28 3.70 3.42 6.83
Eli Lilly & Co. n/a 68,677.104 29.39 17.81 4.24 3.87 n/a
Tyco International Ltd. n/a 63,943.553 16.13 16.05 1.53 1.46 11.16
Bristol Myers Squibb Co. n/a 56,420.295 35.59 22.56 3.15 2.90 17.05
Celgene Corporation n/a 22,755.107 329.88 69.77 25.32 16.88 12.39
Forest Laboratories, Inc. n/a 17,504.473 22.33 19.19 5.28 5.19 5.87
Shire plc (ADR) n/a 11,191.469 40.23 31.09 6.23 5.00 11.87
Barr Pharmaceuticals, Inc. n/a 5,305.006 n/a 16.28 3.33 2.14 n/a
Endo Pharmaceuticals n/a 4,010.888 29.10 17.85 4.41 3.86 5.13
Millennium Pharmaceuticals, Inc. n/a 3,837.970 n/a -197.67 7.88 8.12 6.42
Noven Pharmaceuticals, Inc. n/a 626.379 39.18 21.87 10.32 7.37 3.59

- 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
Overlap
  sanofi-aventis (ADR) n/a 125,067.977 23.35 13.47 3.17 3.31 n/a
Buyer
  sanofi-aventis (ADR) n/a 125,067.977 23.35 13.47 3.17 3.31 n/a
Allscripts Healthcare Solutions, Inc. n/a 1,486.148 124.93 52.04 6.52 4.85 39.47
DepoMed, Inc. n/a 166.564 n/a -4.37 17.44 6.34 n/a
Vascular Solutions, Inc. n/a 153.526 n/a 120.38 3.54 2.84 10.76
Palatin Technologies, Inc. n/a 143.779 n/a -4.71 7.69 3.72 30.06
Gelita AG n/a n/a n/a n/a n/a n/a n/a
Inyx, Inc. n/a n/a n/a n/a n/a n/a n/a
Target
  Alkermes, Inc. 23.60% 1,712.309 165.62 235.43 7.48 7.08 8.91
sanofi-aventis (ADR) n/a 125,067.977 23.35 13.47 3.17 3.31 n/a
Abbott Laboratories n/a 89,266.774 57.62 20.30 3.95 3.84 n/a
Novo Nordisk A/S (ADR) n/a 34,268.832 29.46 24.82 4.91 n/a 6.45
Elan Corporation, plc (ADR) n/a 6,984.569 n/a -26.91 12.46 8.16 n/a
QAD Inc. n/a 328.736 40.22 34.86 1.40 1.26 6.53
PHC, Inc. n/a 62.443 16.19 n/a 1.55 n/a 5.61

- 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
Overlap
  Cardinal Health, Inc. 28.00% 29,886.028 20.22 21.95 0.35 0.34 6.62
McKesson Corporation 27.00% 17,788.807 20.31 21.14 0.19 0.19 4.19
AmerisourceBergen Corp. 14.00% 10,375.022 21.06 21.11 0.16 0.16 8.35
Buyer
  Cardinal Health, Inc. 28.00% 29,886.028 20.22 21.95 0.35 0.34 6.62
McKesson Corporation 27.00% 17,788.807 20.31 21.14 0.19 0.19 4.19
AmerisourceBergen Corp. 14.00% 10,375.022 21.06 21.11 0.16 0.16 8.35
Salix Pharmaceuticals, Ltd. n/a 672.677 21.35 16.87 3.23 2.57 5.23
QLT Inc. (USA) n/a 578.091 n/a 22.18 3.30 3.68 2.83
Vascular Solutions, Inc. n/a 153.526 n/a 120.38 3.54 2.84 10.76
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
Target
  Cardinal Health, Inc. n/a 29,886.028 20.22 21.95 0.35 0.34 6.62
McKesson Corporation n/a 17,788.807 20.31 21.14 0.19 0.19 4.19
AmerisourceBergen Corp. n/a 10,375.022 21.06 21.11 0.16 0.16 8.35
AVANIR Pharmaceuticals n/a 174.234 n/a n/a 11.28 17.61 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 125,067.977 23.35 13.47 3.17 3.31 n/a
Wyeth n/a 74,961.936 17.31 16.09 3.59 3.45 n/a
Barr Pharmaceuticals, Inc. n/a 5,305.006 n/a 16.28 3.33 2.14 n/a
Buyer
  sanofi-aventis (ADR) n/a 125,067.977 23.35 13.47 3.17 3.31 n/a
Wyeth n/a 74,961.936 17.31 16.09 3.59 3.45 n/a
Target
  Johnson & Johnson n/a 188,520.120 18.27 16.28 3.40 3.15 n/a
Novartis AG (ADR) n/a 135,798.194 25.80 17.28 3.70 3.42 6.83
sanofi-aventis (ADR) n/a 125,067.977 23.35 13.47 3.17 3.31 n/a
AstraZeneca plc (ADR) n/a 90,468.000 14.97 15.06 3.42 3.43 8.15
Abbott Laboratories n/a 89,266.774 57.62 20.30 3.95 3.84 n/a
Wyeth n/a 74,961.936 17.31 16.09 3.59 3.45 n/a
Bristol Myers Squibb Co. n/a 56,420.295 35.59 22.56 3.15 2.90 17.05
Schering-Plough Corporation n/a 45,688.615 36.58 28.18 4.15 4.09 n/a
Novo Nordisk A/S (ADR) n/a 34,268.832 29.46 24.82 4.91 n/a 6.45
Cardinal Health, Inc. n/a 29,886.028 20.22 21.95 0.35 0.34 6.62
Akzo Nobel N.V. (ADR) n/a 22,349.511 13.50 n/a 1.22 1.41 4.92
Teva Pharmaceutical Industries Ltd (ADR) n/a 21,791.306 39.91 17.52 2.59 2.44 19.51
McKesson Corporation n/a 17,788.807 20.31 21.14 0.19 0.19 4.19
AmerisourceBergen Corp. n/a 10,375.022 21.06 21.11 0.16 0.16 8.35
Elan Corporation, plc (ADR) n/a 6,984.569 n/a -26.91 12.46 8.16 n/a
Barr Pharmaceuticals, Inc. n/a 5,305.006 n/a 16.28 3.33 2.14 n/a
Mylan Laboratories Inc. n/a 4,835.075 13.97 13.85 3.34 3.13 5.33
Bausch & Lomb Inc. n/a 2,984.244 155.42 79.68 1.27 1.26 14.14
Alkermes, Inc. n/a 1,712.309 165.62 235.43 7.48 7.08 8.91
Ligand Pharmaceuticals Inc. n/a 722.209 n/a -35.50 5.12 26.23 n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 1,988.5 1,720.2 3,708.7
Other Revenue 0.0 43.9 43.9
Total Revenue 1,988.5 1,764.1 3,752.6
Cost of Revenue 419.8 257.1 676.9
SG&A Expense 670.2 675.6 1,345.8
Depreciation & Amortization 147.5 116.5 264.1
Research & Development 143.6 403.4 547.0
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 0.0 0.0
Unusual Expense (Income) 204.2 30.5 234.7
Total Expenses 1,585.3 1,483.0 3,068.4
Operating Income 403.2 281.0 684.2
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 22.3 6.5 28.8
Other, Net -1.2 -49.3 -50.5
Income Before Taxes 424.3 238.3 662.6
Income Taxes 135.7 93.4 229.2
Income After Taxes 288.6 144.8 433.4
Net Income - Excl. Xord. Items 288.6 144.8 433.4
Discontinued Operations 0.4 0.0 0.4
Net Income - Incl. Xord. Items 288.9 144.8 433.8
Income Avail. to Common 288.9 144.8 433.8
Share Items
Basic Avg. Shares Outstanding 242.3 61.8 304.1
Basic EPS - Excl. Xord. Items 1.19 2.34 1.43
Basic EPS - Incl. Xord. Items 1.19 2.34 1.43
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 243.1 61.8 304.8
F.D. EPS - Excl. Xord. Items 1.19 2.34 1.42
F.D. EPS - Incl. Xord. Items 1.19 2.34 1.42
Balance Sheet
Assets
Cash and Equivalents 113.8 496.5 610.3
ST Investments 890.2 25.2 915.4
Accounts Receivable 265.5 270.0 535.5
Inventory 215.5 174.3 389.8
Prepayments and Advances 106.6 0.0 106.6
Other Current Assets 82.0 231.8 313.8
Current Assets 1,673.5 1,197.9 2,871.3
Accum D&A 0.0 0.0 0.0
PPE, Net 307.0 453.0 760.0
Goodwill & Intangibles 972.5 1,260.2 2,232.7
Long Term Investments 11.6 0.0 11.6
Other Assets 0.0 0.0 0.0
Other LT Assets 364.9 134.4 499.3
Total Assets 3,329.5 3,045.5 6,375.0
Liabilities
Accounts Payable 77.2 90.6 167.7
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 510.1 263.5 773.6
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 0.0 1,023.3 1,023.3
Other (Current) Liabilities 30.5 0.0 30.5
Current Liab. 617.8 1,377.4 1,995.2
LT Debt 400.0 225.0 625.0
Total LT Debt 400.0 225.0 625.0
Deferred Taxes 0.0 72.5 72.5
Other LT Liab. 23.1 61.2 84.3
Total Liabilities 1,040.9 1,736.0 2,777.0
Shareholders Equity
Common Stock 1,245.0 0.7 1,245.7
Additional Paid in Capital 0.0 1,780.7 1,780.7
Retained Earnings 1,043.9 -425.3 618.6
Treasure Stock 0.0 -151.1 -151.1
Other Equity -0.3 104.4 104.1
Total Equity 2,288.6 1,309.5 3,598.1
Total Liab. & Equity 3,329.5 3,045.5 6,375.0
Shares Outstanding 243.2 65.6 308.7
Cash Flow
Operating Cash Flow
CF Net Income 0.0 144.8 144.8
CF Depreciation 0.0 126.5 126.5
CF Deferred Taxes 0.0 28.1 28.1
Other Non-Cash Items 0.0 120.2 120.2
Change in Working Capital 465.6 -99.7 365.9
Total Cash From Operating Activities 465.6 319.9 785.5
Investing Cash Flow (not calculated)
Capital Expenditures -71.6 -275.8 -347.4
Other Investing Cash Flows -364.7 255.4 -109.3
Total Cash From Investing Activities -436.3 -20.4 -456.7
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock 7.3 139.1 146.4
Purchase and Retirement of Debt 57.3 -188.9 -131.6
Other Financing Cash Flow -10.2 27.2 17.0
Total Cash From Financing Activities 54.5 -22.6 31.8
Exchange Rate Effects 0.0 14.5 14.5
Net Change in Cash 83.8 291.5 375.2
Cash Taxes Paid 163.9 37.0 200.9
Cash Interest Paid 8.2 20.3 28.5