Summary

Other Scenarios:

Buyer: King Pharmaceuticals, Inc. (KG) Last Price: 8.80 Market Cap.: 2.17B
Target: Axcan Pharma Inc. (USA) (AXCA) Last Price: 23.34 Market Cap.: 1.29B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 918
Biopharmaceuticals 375
Medical Devices 254
Nutritional Health   27
Outsourced Services   66

- 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: 65)
  • Adrenalin Chloride Solution (Epinephrine)
  • Corgard (Nadolol)
  • Adenocard (Adenosine)
  • Procanbid (Procainamide Hydrochloride)
Target (Total: 19)
  • NCX 1000 (Ursodeoxycholic Acid (UDCA) Derivative)
  • Carafate/Sulcrate
  • Photofrin (Porfimer Sodium)
  • Canasa Rectal Gel (Mesalamine)
Buyer
  • Meridian Medical Technologies Prime ECG Electrocardiac Mapping System
  • Binodenoson
  • Meridian Medical Technologies CardioBeepers
  • Meridian Medical Technologies Transtelephonic Blood Pressure Monitors
Target
  • Flutter Hands-Free CPT
  • Axcan Pharma Inc.

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 7)
  • Sanofi-Aventis SA (ADR) (SNY)
  • Harte-Hanks, Inc. (HHS)
  • Allscripts Healthcare Solutions, Inc. (MDRX)
  • Acura Pharmaceuticals, Inc. (ACUR)
Target (Total: 1)
  • Eurand N.V. (EURX)
Buyer (Total: 9)
  • McKesson Corporation (MCK)
  • Cardinal Health, Inc. (CAH)
  • AmerisourceBergen Corp. (ABC)
  • Barr Pharmaceuticals, Inc. (BRL)
Target (Total: 0)

n/a

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 2,050 480
Revenue Per Employee 1,043,389.0 776,209.9
Total Revenue 533.3 92.9
Total Expenses 483.8 63.0
Other Revenue 0.0 0.0
Cost of Revenue 131.8 22.4
SG&A Expense 164.3 32.6
Research & Development 44.9 5.5
Other Operating Expense 0.0 0.0
Operating Income 49.5 29.9
Unusual Income 81.8 0.0
LT Debt to Capital 13.74 0.01
Fwd P/E 6.77 n/a
Fwd P/Rev 1.33 n/a
Book Value 2,510.8 718.7
Curr Portion of LTD/Cap Lease 0.0 0.4

Individual Company Summary

Focused

Buyer

Focused (): Healthcare > Biopharmaceuticals

Target

Focused (): Healthcare > Biopharmaceuticals > Digestive System

Business Description

Buyer

King Pharmaceuticals, Inc. is a vertically integrated pharmaceutical company that performs basic research and develops, manufactures, markets and sells branded prescription pharmaceutical products. The Company?s wholly owned subsidiaries are Monarch Pharmaceuticals, Inc., King Pharmaceuticals Research and Development, Inc., Meridian Medical Technologies, Inc., Parkedale Pharmaceuticals, Inc., King Pharmaceuticals Canada Inc. and Monarch Pharmaceuticals Ireland Limited. The Company markets its branded prescription pharmaceutical products to general/family practitioners, internal medicine physicians, neurologists, pain specialists, surgeons and hospitals across the United States and in Puerto Rico.

Target

Axcan Pharma Inc. (Axcan) is a specialty pharmaceutical company concentrating in the field of gastroenterology, with operations in North America and Europe. Axcan markets and sells pharmaceutical products used in the treatment of a range of gastrointestinal diseases and disorders. During the fiscal year ended September 30, 2007 (fiscal 2007), the Company?s products included ULTRASE, CANASA, URSO 250/URSO FORTE, PYLERA and CARAFATE in the United States, SALOFALK, SUCRALFATE and URSO in Canada and LACTEOL, DELURSAN and PANZYTRAT in Europe. Axcan also has a number of projects in all phases of clinical development. In February 2008, Axcan was acquired by an affiliate of TPG Capital LP.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 73.49 76.06
Operating Margin % 10.65 30.5
Quick Ratio 3.47 3.77
Current Ratio 4.02 4.29
Coverage Ratio 0.1 0
Total Assets 3,426.8 856.1
Return on Equity % 7.3 10.61
Return on Assets % 5.35 8.91
Cash+ ST Inv. Per Share 5.6 5.58
Total Debt 400.0 0.5
Total Debt to Equity % 15.93 0.07
Total Debt to Tangible Equity % 24.99 0.16
Debt to Asset % 11.67 0.06

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.
  
Immunology
The Immunology Subsector includes therapeutics that treat disorders affecting the immune system.
  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
Musculoskeletal System
The Musculoskeletal System Subsector includes therapeutics that treat disorders of the bones, joints, ligaments, tendons, and soft tissue involved with them.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
  
Obstetrics/Gynecology
The Obstetrics/Gynecology Subsector includes therapeutics that treat female genital disorders, pregnancy, and childbirth.
  
Oncology
The Oncology Subsector includes therapeutics that treat and manage various types of cancer and related complications.
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.
  
Respiratory
The Respiratory Subsector includes medical devices that diagnose and treat respiratory diseases.
  
Nutritional Health  
Dietary/Naturopathic Supplements
The Dietary/Naturopathic Subsector includes nutritional biochemicals and nutrients derived from natural sources that are intended to support health.
  
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.
  

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

Target Products:

  • NCX 1000 (Ursodeoxycholic Acid (UDCA) Derivative)
  
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)
  
Angiotensin Converting Enzyme Inhibitors (ACE Inhibitors)/Thiazide Diuretic Agents
Therapeutics that treat high blood pressure by inhibiting the renin-angiotensin system and increasing the excretion of sodium ions, potassium ions, and water through urine.

Buyer Products:

  • Altace (Ramipril)/Hydrochlorothiazide Combination Product
  
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
Gastroduodenal Disorders  
Peptic Ulcers  
Duodenal  
Ulcer Adhering Agents
Therapeutics that treat peptic ulcers by binding to it and protecting it from further damage.

Target Products:

  • Carafate/Sulcrate
  
Gastroesophageal Disorders
Barrett`s Esophagus  
Photodynamic Therapy (PDT)
Therapeutics that treat Barrett's Esophagus by having therapeutic agents accumulate preferentially in the pre-cancerous/mutated cells. The therapeutic is then activated using an energy source like UV light.

Target Products:

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

Buyer Products:

  • Tigan (Trimethobenzamide Hydrochloride)
  
Intestinal Disorders  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat ulcerative colitis by inhibiting the actions of the two enzymes, cyclooxygenase and lipoxygenase.

Target Products:

  • Canasa Rectal Gel (Mesalamine)
  
Irritable Bowel Syndrome (IBS)  
Anticholinergic Agents
Therapeutics that treat irritable bowel syndrome by decreasing the liver's cholesterol synthesis and secretion.

Target Products:

  • Bentyl (Dicyclomine Hydrochloride)
  
Rectal Disorders  
Proctitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat proctitis by inhibiting the actions of the two enzymes, cyclooxygenase and lipoxygenase.

Target Products:

  • Canasa 1 g Suppositories (Mesalamine)
  • MAX-002 (1g Mesalamine Suppository)
  • Canasa (Mesalamine) Suppositories
  
Liver Disorders
Cirrhosis
Bile Acids
Therapeutics that treat cirrhosis by protecting liver cells from the damaging activity of toxic bile acids.

Target Products:

  • URSO Forte (Ursodiol)
  • URSO 250 (Ursodiol)
  
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)
  
Pancreatic Disorders  
Chronic Pancreatitis  
Enzyme Replacement Therapy
Therapeutics that treat long term problems of pancreas inflammation that lead to decreases in pancreatic enzymes by supplying exogenous pancreatic enzymes.

Target Products:

  • Ultrase (Pancrelipase)/Ultrase MT (Pancrelipase)
  • Viokase (Pancrelipase)
  
Obstructed Ducts  
Enzyme Replacement Therapy
Therapeutics that treat obstructed pancreatic ducts by providing pacreatic enzymes, which help dissolve any substances in the ducts.

Target Products:

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

Target Products:

  • AGI-010 (Delayed/Controlled Release Omeprazole)
  • NMK 150 (Pancreatic Enzyme)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of digestive disorders in very early stages of research where no human subject is involved.

Target Products:

  • Cx401 (Mesenchymal Stem Cell Therapeutic)
  
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:

  • 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.

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:

  • Triostat (Liothyronine Sodium)
  • Levoxyl (Levothyroxine Sodium)
  • Cytomel (Liothyronine Sodium)
  
Immunology  
Autoimmune Disorders  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat inflammation of the colon and rectum by blocking the action of cyclooxygenase and lipoxygenase.

Target Products:

  • Canasa Rectal Gel (Mesalamine)
  
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)
  
Penicillin Derivatives
Therapeutics that treat a wide variety of infections by inhibiting bacterial cell wall synthesis during active multiplication.

Buyer 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
  
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)
  
Digestive System  
Heliobacter pylori  
Antisecretory Agents/Nitroimidazoles/Tetracyclines
Therapeutics treat digestive infections caused by Helicobacter pylori bacteria by inhibiting the action of the membrane protein involved in the final steps of triggering acid release into the stomach.

Target Products:

  • Pylera (Bismuth Salicylate/Metronidazole/Tetracycline)/Formerly Helizide
  
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 Ophthalmic (Neomycin/Polymyxin B Sulfates/Bacitracin Zinc/Hydrocortisone) Ointment/Suspension Sterile
  
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:

  • Coly-Mycin S Otic (Colistin Sulfate/Neomycin Sulfate/Thonzonium Bromide/Hydrocortisone Acetate)
  • Cortisporin-TC Otic (Colistin Sulfate/Neomycin Sulfate/Thonzonium Bromide/Hydrocortisone Acetate)
  • Pediotic Suspension Sterile (Neomycin/Polymyxin B Sulfates/Hydrocortisone)
  • Cortisporin Otic (Neomycin/Polymyxin B Sulfate/Hydrocortisone) Solution/Suspension Sterile
  
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
  
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  
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)
  
Psychiatric Disorders  
Sleep Disorders  
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)
  
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:

  • Delestrogen (Estradiol Valerate Injection, USP)
  • Menest (Esterified Estrogens Tablets)
  
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)
  
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)
  
Digestive System  
Esophageal Cancer  
Palliative Agents  
Photodynamic Therapy (PDT)
Therapeutics that treat and manage esophageal cancer by having therapeutic agents accumulate preferentially in cancer cells. The therapeutic is then activated using an energy source like UV light.

Target Products:

  • Photofrin (Porfimer Sodium)
  
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:

  • Ursodiol Disulfate
  
Respiratory System/Thoracic  
Lung Cancer  
Non Small Cell Lung Cancer (NSCLC)  
Palliative Agents  
Photodynamic Therapy (PDT)
Therapeutics that treat and manage lung cancer by having therapeutic agents accumulate preferentially in cancer cells. The therapeutic are then activated using an energy source, such as UV light.

Target Products:

  • Photofrin (Porfimer Sodium)
  
Photodynamic Therapy (PDT)
Therapeutics that treat and manage lung cancer by having therapeutic agents accumulate preferentially in cancer cells. The therapeutic are then activated using an energy source, such as UV light.

Target Products:

  • Photofrin (Porfimer Sodium)
  
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:

  • 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 Ophthalmic (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:

  • Avinza (Morphine Sulfate ER Capsules)
  • Remoxy (Time-Release Oxycodone)
  • Acurox (Oxycodone/Niacin Abuse Resistant)/Formerly OxyADF
  
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
  
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)
  
Prophylactic Treatments  
Mast Cell Stabilizers
Therapeutics that treat asthma by inhibiting mast cell degranulation.

Buyer Products:

  • Intal HFA (Cromolyn Sodium)
  • Tilade (Nedocromil Sodium)
  
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
  
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)
  
Cystic Fibrosis (CF)  
Complications  
Pancreatic Deficiency  
Enzyme Replacement Therapy
Therapeutics that treat a deficiency of pancreatic enzymes caused by cystic fibrosis by providing exogenous pancreatic enzymes.

Target Products:

  • Viokase (Pancrelipase)
  • Ultrase (Pancrelipase)/Ultrase MT (Pancrelipase)
  
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:

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

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

Buyer Products:

  • Adenoscan
 
Respiratory  
Treatment  
Positive Expiratory Pressure (PEP)
Device designed in bronchial hygiene therapy and exercising the lungs and by generating pressure during expiration.

Target Products:

  • Flutter Hands-Free CPT
  
Nutritional Health  
Dietary/Naturopathic Supplements  
Children`s Health
Products consisting of dietary/naturopathic supplements that are intended to support infants and children's health.

Target Products:

  • Axcan Pharma Inc.
  
General Health
Products consisting of dietary/naturopathic supplements that are intended to support general health.

Target Products:

  • Axcan Pharma Inc.
  
Weight Management
Products consisting of dietary/naturopathic supplements that are intended to manage obesity, overweight and underweight.

Target Products:

  • Axcan Pharma Inc.
  
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:

  • 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.

Buyer Products:

  • King Pharmaceuticals Contract Manufacturing Services
  

- 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
  Impax Laboratories Inc. n/a 528.117 452.09 9.12 4.69 n/a 9.00
Buyer
  Shire plc (ADR) n/a 11,671.981 0.00 20.57 4.79 4.05 n/a
Endo Pharmaceuticals n/a 3,124.237 13.74 11.47 2.88 2.48 3.00
Biovail Corporation (USA) n/a 1,848.552 9.45 8.32 2.19 2.45 3.26
Alpharma Inc. n/a 1,542.093 0.00 110.08 2.13 2.06 4.25
Valeant Pharmaceuticals International n/a 1,172.331 0.00 21.52 1.34 1.32 n/a
Cubist Pharmaceuticals, Inc. n/a 960.776 19.95 13.35 3.26 2.50 12.64
Sciele Pharma Inc. n/a 693.822 15.28 9.41 1.82 1.54 80.38
ZymoGenetics, Inc. n/a 626.563 0.00 -4.68 16.28 7.63 5.46
Impax Laboratories Inc. n/a 528.117 452.09 9.12 4.69 n/a 9.00
ACADIA Pharmaceuticals Inc. n/a 333.533 0.00 -4.92 44.14 29.22 2.93
Target
  The Procter & Gamble Company n/a 213,486.043 19.40 19.88 2.68 2.58 n/a
Johnson & Johnson n/a 185,010.946 17.49 14.76 3.03 2.91 12.71
Sanofi-Aventis SA (ADR) n/a 98,111.111 12.03 8.93 2.17 2.35 n/a
Solvay S.A. (ADR) n/a 10,439.415 9.10 n/a 0.74 n/a n/a
Watson Pharmaceuticals, Inc. n/a 2,979.119 21.12 14.74 1.19 1.16 8.07
Eurand N.V. n/a 662.135 0.00 71.86 5.08 3.74 n/a
Impax Laboratories Inc. n/a 528.117 452.09 9.12 4.69 n/a 9.00
Salix Pharmaceuticals, Ltd. n/a 315.489 38.35 -5.85 1.34 1.75 3.14
Santarus, Inc. n/a 125.723 0.00 -5.44 1.33 1.00 8.19
Altus Pharmaceuticals Inc. n/a 118.778 0.00 -1.65 0.00 17.54 n/a
DUSA Pharmaceuticals, Inc. n/a 58.270 0.00 -15.13 2.11 1.60 2.64
Pipex Pharmaceuticals, Inc. n/a 16.814 0.00 -0.72 n/a 14.01 2.22
Miravant Medical Technologies n/a 0.026 0.00 n/a n/a n/a n/a
UCB S.A. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

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
  Sanofi-Aventis SA (ADR) n/a 98,111.111 12.03 8.93 2.17 2.35 n/a
Harte-Hanks, Inc. n/a 893.201 9.64 10.37 0.77 0.78 n/a
Allscripts Healthcare Solutions, Inc. n/a 524.126 25.49 17.38 1.86 1.54 n/a
Acura Pharmaceuticals, Inc. n/a 418.950 0.00 n/a 65.41 n/a 22.38
Pain Therapeutics, Inc. n/a 365.095 17.98 16.82 5.53 4.70 3.51
Vascular Solutions, Inc. n/a 94.426 0.00 20.20 1.79 1.52 7.48
Gelita AG n/a n/a n/a n/a n/a n/a n/a
Target
  Eurand N.V. n/a 662.135 0.00 71.86 5.08 3.74 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
  McKesson Corporation 32.00% 15,951.373 16.97 16.59 0.16 0.16 5.39
Cardinal Health, Inc. 29.00% 18,731.903 12.10 13.86 0.21 0.20 14.46
AmerisourceBergen Corp. 13.00% 6,736.766 14.75 14.44 0.10 0.10 n/a
Barr Pharmaceuticals, Inc. n/a 5,075.964 39.55 14.75 2.03 1.84 52.36
Salix Pharmaceuticals, Ltd. n/a 315.489 38.35 -5.85 1.34 1.75 3.14
QLT Inc. (USA) n/a 256.694 0.00 24.57 2.01 2.23 2.05
Vascular Solutions, Inc. n/a 94.426 0.00 20.20 1.79 1.52 7.48
Merck KGaA n/a n/a n/a n/a n/a n/a n/a
Government - United States 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 SA (ADR) n/a 98,111.111 12.03 8.93 2.17 2.35 n/a
Wyeth n/a 55,578.178 12.04 12.18 2.48 2.48 4.06
QLT Inc. (USA) n/a 256.694 0.00 24.57 2.01 2.23 2.05
Buyer
  Sanofi-Aventis SA (ADR) n/a 98,111.111 12.03 8.93 2.17 2.35 n/a
Eli Lilly & Co. n/a 56,667.333 19.19 12.65 3.04 2.80 5.06
Wyeth n/a 55,578.178 12.04 12.18 2.48 2.48 4.06
Barr Pharmaceuticals, Inc. n/a 5,075.964 39.55 14.75 2.03 1.84 52.36
Teleflex Incorporated n/a 1,927.175 13.16 13.07 1.00 0.80 n/a
Acura Pharmaceuticals, Inc. n/a 418.950 0.00 n/a 65.41 n/a 22.38
Pain Therapeutics, Inc. n/a 365.095 17.98 16.82 5.53 4.70 3.51
Salix Pharmaceuticals, Ltd. n/a 315.489 38.35 -5.85 1.34 1.75 3.14
QLT Inc. (USA) n/a 256.694 0.00 24.57 2.01 2.23 2.05
Target
  Sanofi-Aventis SA (ADR) n/a 98,111.111 12.03 8.93 2.17 2.35 n/a
Abbott Laboratories n/a 86,035.775 23.86 17.34 3.32 3.04 44.60
Wyeth n/a 55,578.178 12.04 12.18 2.48 2.48 4.06
Eurand N.V. n/a 662.135 0.00 71.86 5.08 3.74 n/a
QLT Inc. (USA) n/a 256.694 0.00 24.57 2.01 2.23 2.05
Gentium S.p.A. (ADR) n/a 100.673 0.00 -1.87 13.92 n/a 2.58
Nordmark Arzneimittel GmbH & CO KG n/a n/a n/a n/a n/a n/a n/a
AGI Therapeutics plc n/a n/a n/a n/a n/a n/a n/a
NicOx S.A. n/a n/a n/a n/a n/a n/a n/a
Dr. Falk Pharma GmbH n/a n/a n/a n/a n/a n/a n/a
Merz + Co. n/a n/a n/a n/a n/a n/a n/a
Children's Hospital, Columbus, Ohio n/a n/a n/a n/a n/a n/a n/a
Genetrix SL 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 2,136.9 363.0 2,499.9
Other Revenue 0.0 0.0 0.0
Total Revenue 2,136.9 363.0 2,499.9
Cost of Revenue 566.5 86.9 653.4
SG&A Expense 691.0 111.7 802.8
Depreciation & Amortization 173.9 23.0 196.9
Research & Development 149.4 27.9 177.4
Interest Expense 0.0 -7.3 -7.3
Other Operating Expense 0.0 0.0 0.0
Unusual Expense (Income) 328.5 10.0 338.5
Total Expenses 1,909.4 252.3 2,161.7
Operating Income 227.5 110.7 338.2
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 23.1 0.0 23.1
Other, Net 0.2 0.0 0.2
Income Before Taxes 250.8 110.7 361.5
Income Taxes 67.6 34.4 102.0
Income After Taxes 183.2 76.3 259.5
Net Income - Excl. Xord. Items 183.2 76.3 259.5
Discontinued Operations -0.2 0.0 -0.2
Net Income - Incl. Xord. Items 183.0 76.3 259.3
Income Avail. to Common 183.0 76.3 259.3
Share Items
Basic Avg. Shares Outstanding 243.2 56.0 299.2
Basic EPS - Excl. Xord. Items 0.75 1.36 0.87
Basic EPS - Incl. Xord. Items 0.75 1.36 0.87
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 244.1 56.8 300.9
F.D. EPS - Excl. Xord. Items 0.75 1.34 0.86
F.D. EPS - Incl. Xord. Items 0.75 1.34 0.86
Balance Sheet
Assets
Cash and Equivalents 20.0 310.9 330.9
ST Investments 1,346.1 6.2 1,352.3
Accounts Receivable 203.8 55.8 259.6
Inventory 110.3 30.4 140.7
Prepayments and Advances 39.2 4.0 43.2
Other Current Assets 100.1 17.0 117.1
Current Assets 1,819.7 424.2 2,243.9
Accum D&A 0.0 0.0 0.0
PPE, Net 257.1 32.3 289.3
Goodwill & Intangibles 910.1 394.1 1,304.2
Other Assets 0.0 0.0 0.0
Other LT Assets 440.0 5.6 445.5
Total Assets 3,426.8 856.1 4,283.0
Liabilities
Accounts Payable 76.5 0.0 76.5
Payable/Accrued 0.0 79.1 79.1
Accrued Expenses 376.6 0.0 376.6
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 0.0 0.4 0.4
Other (Current) Liabilities 0.0 19.4 19.4
Current Liab. 453.1 99.0 552.0
LT Debt 400.0 0.1 400.1
Total LT Debt 400.0 0.1 400.1
Deferred Taxes 0.0 38.4 38.4
Other LT Liab. 63.0 0.0 63.0
Total Liabilities 916.1 137.4 1,053.5
Shareholders Equity
Common Stock 1,283.4 396.1 1,679.6
Additional Paid in Capital 0.0 10.1 10.1
Retained Earnings 1,225.4 271.7 1,497.1
Other Equity 2.0 40.8 42.8
Total Equity 2,510.8 718.7 3,229.5
Total Liab. & Equity 3,426.8 856.1 4,283.0
Shares Outstanding 245.9 55.4 301.3
Cash Flow
Operating Cash Flow
CF Net Income 0.0 76.3 76.3
CF Depreciation 0.0 23.0 23.0
CF Deferred Taxes 0.0 -12.9 -12.9
Other Non-Cash Items 0.0 10.0 10.0
Change in Working Capital 672.6 20.8 693.4
Total Cash From Operating Activities 672.6 117.1 789.8
Investing Cash Flow (not calculated)
Capital Expenditures -148.5 -8.6 -157.2
Other Investing Cash Flows -627.7 40.9 -586.8
Total Cash From Investing Activities -776.3 32.3 -744.0
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock 10.7 6.7 17.3
Purchase and Retirement of Debt 0.0 -0.7 -0.7
Other Financing Cash Flow -0.8 0.0 -0.8
Total Cash From Financing Activities 9.8 6.0 15.9
Exchange Rate Effects 0.0 0.9 0.9
Net Change in Cash -93.8 156.3 62.5
Cash Taxes Paid 171.9 39.6 211.5
Cash Interest Paid 6.0 2.9 9.0