Summary

Other Scenarios:

Buyer: Protherics PLC (ADR) (PTIL) Last Price: 14.24 Market Cap.: 3.45B
Target: Biovail Corporation (USA) (BVF) Last Price: 16.15 Market Cap.: 2.59B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 866
Biopharmaceuticals 322
Outsourced Services   69
Veterinary Products and Services   7

- 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: 7)
  • Angiotensin Vaccine
  • CytoFab
  • Prolarix
  • CroFab [(Crotalidae Polyvalent Immune Fab (Ovine)]
Target (Total: 44)
  • Tiazac (Diltiazem)
  • Cardizem CD (Diltiazem Hydrochloride)
  • Cardizem XL (Diltiazem Hydrochloride)
  • Procardia XL (Nifedipine)
Buyer
  • Protherics Enfer TSE Diagnostic Kit
Target
  • Biovail Contract Research Division (CRD)
  • ShearForm
  • Macrocap
  • CEFORM

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 1)
  • Symbion Health Limited (SYHTY)
Target (Total: 8)
  • GlaxoSmithKline plc (ADR) (GSK)
  • Merck & Co., Inc. (MRK)
  • Wyeth (WYE)
  • Teva Pharmaceutical Industries Ltd (ADR) (TEVA)
Buyer (Total: 0)

n/a
Target (Total: 7)
  • GlaxoSmithKline plc (ADR) (GSK)
  • AstraZeneca PLC (ADR) (AZN)
  • Merck & Co., Inc. (MRK)
  • Teva Pharmaceutical Industries Ltd (ADR) (TEVA)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 214 1,744
Revenue Per Employee 125,374.4 582,759.8
Total Revenue 13.2 252.8
Total Expenses 24.4 166.2
Other Revenue 0.0 7.7
Cost of Revenue 6.8 61.8
SG&A Expense 9.3 66.7
Research & Development 8.2 18.4
Other Operating Expense 0.0 0.0
Operating Income -11.2 86.6
Unusual Income 0.0 0.0
LT Debt to Capital 12.91 22.86
Fwd P/E n/a 6.97
Fwd P/Rev n/a 2.50
Book Value 49.5 1,351.6
Curr Portion of LTD/Cap Lease 1.2 17.8

Key Ratios

  Buyer Target
Gross Margin % 36.24 78.73
Operating Margin % -53.83 41.97
Quick Ratio 1.83 2.71
Current Ratio 2.47 3.09
Coverage Ratio 0 -0.03
Total Assets 113.0 2,112.1
Return on Equity % -36 28.02
Return on Assets % -15.78 17.93
Cash+ ST Inv. Per Share 1.91 3.57
Total Debt 8.6 418.4
Total Debt to Equity % 17.33 30.96
Total Debt to Tangible Equity % 28.38 111.49
Debt to Asset % 7.59 19.81

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals

Target

Focused (): *Healthcare > Biopharmaceuticals

Business Description

Buyer

Protherics PLC is a biopharmaceutical company engaged in the development, manufacture and sale of pharmaceutical products for the treatment of human diseases. The Company's core technology is focused on immunotherapeutics and oncology. Immunotherapeutics encompasses the use of antibodies to combat the effects of disease or poisoning. Protherics PLC has manufacturing facilities in Wales, Australia and Salt Lake City, Utah. On December 7, 2005, the Company licensed CytoFab, its product developed for the treatment of sepsis, to AstraZeneca Ireland Operations, a branch in Ireland of AstraZeneca UK Limited (AstraZeneca).

Target

Biovail Corporation (Biovail) is a specialty pharmaceutical company that applies advanced drug delivery technologies to improve the clinical effectiveness of medicines. The Company commercializes these products both directly and through partners. Its main therapeutic areas of focus are central nervous system disorders (CNS), pain management and cardiovascular disease (including type II diabetes). Biovail has a portfolio of drug delivery technologies that are used to develop improved formulations of late-stage, pre-market and existing in-market drugs that confer meaningful therapeutic benefits to patients. Its portfolio of oral drug delivery technologies includes controlled release, graded release, enhanced absorption, rapid absorption, taste masking and oral disintegration. These technologies can be combined to develop a controlled-release, orally disintegrating and taste-masked tablet. Its drug delivery technologies are applicable to a range of molecules.

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
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.
  
Oncology
The Oncology Subsector includes therapeutics that treat and manage various types of cancer and related complications.
  
Pain Management
The Pain Management Subsector includes therapeutics that treat and management pain.
  
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.
  
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.
  
Veterinary Products and Services  
Veterinary Diagnostics
The Veterinary Diganostics Subsector includes companies that manufacture veterinary diagnostics for the detection and monitoring of veterinary diseases.

Buyer Products:

  • Protherics Enfer TSE Diagnostic Kit
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Cardiovascular System
Heart Disorders  
Angina  
Calcium Channel Blocking Agents
Therapeutics that treat chest pains by preventing the entry of calcium into heart muscle cells.

Target Products:

  • Tiazac (Diltiazem)
  • Cardizem CD (Diltiazem Hydrochloride)
  • Cardizem XL (Diltiazem Hydrochloride)
  • Procardia XL (Nifedipine)
  • Cardizem LA (Diltiazem Hydrochloride)
  
Vasodilatory Agents
Therapeutics that treat chest pains by acting on blood vessels to lower blood pressure.

Target Products:

  • Isordil (Isosorbide Dinitrate)
  
Arrhythmia  
Sodium Channel Blocking Agents
Therapeutics that treat abnormal rhythm of the heart by preventing the entry of sodium into heart muscle cells.

Target Products:

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

Target Products:

  • Vasotec Tablets (Enalapril Maleate)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of heart and circulatory system disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Angiotensin Vaccine

Target Products:

  • Metoprolol ER/ACE Inhibitor
  • Metoprolol Once-Daily
  • Carvedilol CR
  • Metformin/ACE Inhibitor
Vascular Disorders  
Hypertension  
Angiotensin Converting Enzyme Inhibitors (ACE Inhibitors)
Therapeutics that treat high blood pressure by inhibiting the renin-angiotensin system.

Target Products:

  • Vasotec Tablets (Enalapril Maleate)
  • Vasotec I.V. (Enalapril)
  
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.

Target Products:

  • Vaseretic (Enalapril Maleate/Hydrochlorothiazide)
  
Calcium Channel Blocking Agents
Therapeutics that treat high blood pressure by blocking the beta adrenergic receptors of the heart muscle and increasing the excretion of sodium ions, potassium ions, and water through urine.

Target Products:

  • Procardia XL (Nifedipine)
  • Tiazac (Diltiazem)
  • Cardizem LA (Diltiazem Hydrochloride)
  • Cardizem SR (Diltiazem Hydrochloride)
  • Cardizem CD (Diltiazem Hydrochloride)
  • Cardizem XL (Diltiazem Hydrochloride)
  
Peripheral Vascular Disease  
Blood Viscosity Reducing Agents
Therapeutics that treat arterial obstruction outside of the heart by altering the flow of red blood cells.

Target Products:

  • Trental (Pentoxifylline)
  
Endocrinology/Metabolism  
Diabetes  
Non-Insulin Dependent Diabetes Mellitus (NIDDM)/Type 2 Diabetes  
Biguanides
Therapeutics that treat abnormally high blood glucose levels by decreasing the production of glucose in the liver, decreasing intestinal absorption of glucose and increasing peripheral uptake and utilization of glucose.

Target Products:

  • Glumetza (Metformin GR)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of endocrinology disorders in very early stages of research where no human subject is involved.

Target Products:

  • Simvastatin EA
  • Metformin/ACE Inhibitor
  
Immunology  
Autoimmune Disorders  
Arthritis  
Rheumatoid Arthritis (RA)  
Analgesics  
Non-Steroidal Anti-Inflammatory Drugs (NSAID)  
Non-Specific Cyclooxygenase Inhibitors (COX Inhibitors)
Therapeutics that treat pain associated with chronic inflammation of the joints by blocking cyclooxygenase activity.

Target Products:

  • Voltaren XR (Diclofenac Sodium)
  
Infectious Diseases
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of infectious diseases in early stages of clinical research where human subject is involved.

Buyer Products:

  • CytoFab
  
Viral  
DNA Viruses  
Herpesvirus  
Herpes Simplex Type 1  
Purine Nucleoside Analogs
Therapeutics that treat viral infections characterized by recurrent cold sores and fever blisters by inhibiting replication of viral DNA by incorporating themselves into growing viral DNA stands.

Target Products:

  • Zovirax Cream/Ointment (Acyclovir)
  
Musculoskeletal System  
Skeletal Disorders  
Joint Disorders  
Osteoarthritis (OA)  
Non-Steroidal Anti-Inflammatory Drugs (NSAID)  
Non-Specific Cyclooxygenase Inhibitors (COX Inhibitors)
Therapeutics that treat inflammation by non-specifically inhibiting the action of cyclooxygenase.

Target Products:

  • Voltaren XR (Diclofenac Sodium)
  
Rheumatoid Arthritis (RA)  
Analgesics  
Non-Steroidal Anti-Inflammatory Drugs (NSAID)  
Non-Specific Cyclooxygenase Inhibitors (COX Inhibitors)
Therapeutics that treat pain associated with chronic inflammation of the joints by blocking cyclooxygenase activity.

Target Products:

  • Voltaren XR (Diclofenac Sodium)
  
Neurology  
Psychiatric Disorders  
Anxiety  
Generalized Anxiety Disorder (GAD)  
Gamma-Aminobutyric Acid (GABA) Receptor Agonists
Therapeutics that treat anxiety by enhancing the inhibitory neurotransmitter action of gamma-aminobutyric acid.

Target Products:

  • Ativan (Lorazepam)
  • Ativan Injection (Lorazepam)
  
Mood Disorders  
Depression  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat depression by selectively preventing the removal of serotonin.

Target Products:

  • Citalopram ODT
  • Paroxetine CR/FD
  
Serotonin/Norepinephrine Reuptake Inhibitors
Therapeutics that treat depression by inhibiting the neuronal uptake of serotonin and norepinephrine.

Target Products:

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

Target Products:

  • Zolpidem ODT
  
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:

  • Bupropion/SSRI Combination
  • Bupropion Salt
  • Venlafaxine CR
  
Oncology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer in early stages of clinical research where human subject is involved.

Buyer Products:

  • Prolarix
  
Pain Management  
Narcotics  
Analgesics/Opioids
Therapeutics that treat pain by binding to certain nervous system receptors which alters the both the perception of pain as well as the emotional response to pain.

Target Products:

  • Tramadol/Acetaminophen ODT Combination
  
Opioids
Therapeutics that treat pain by binding to certain nervous system receptors which alter both the perception of pain as well as the emotional response to pain.

Target Products:

  • Ultram ER (Tramadol Hydrochloride Extended Release)/Ultram ODT (Tramadol Hydrochloride Orally Disintegrating Tablet)
  • Tramadol ODT
  • Tramadol ER
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of pain in very early stages of research where no human subject is involved.

Target Products:

  • Tramadol ER/NSAID
  
Toxicology  
Animal Poisoning  
Snakes  
Immunoglobulins
Therapeutics that treat snake bites with target specific proteins that neutralize the poison.

Buyer Products:

  • CroFab [(Crotalidae Polyvalent Immune Fab (Ovine)]
  
Chemical Poisoning  
Digoxin  
Digoxin Binding Agents
Therapeutics that treat toxicity due to ingestion of excessive digoxin by competitively binding to digoxin, making them unavailable for binding at their site of action on cells in the body.

Buyer Products:

  • DigiFab [Digoxin Immune Fab (Ovine)]
  
Methotrexate  
Carboxypeptidase
Therapeutics that treat methotrexate toxicity by catalyzing its carboxyl groups.

Buyer Products:

  • Voraxaze
  
Outsourced Services  
Development/Manufacturing Services  
Contract Research Organizations (CRO)  
Full Service
Contract Research Organizations (CROs) that conduct both preclinical and clinical studies in the development of new therapeutic products.

Target Products:

  • Biovail Contract Research Division (CRD)
  
Drug Delivery Technology  
Oral Delivery  
Effervescents
Drug Delivery Technologies used to deliver drugs by dissolving in liquid which can then be ingested.

Target Products:

  • ShearForm
  
Osmotic
Drug Delivery Technologies utilizing an osmotic mechanism for sustained release of the drugs.

Target Products:

  • Macrocap
  
Polymer Coated
Drug Delivery Technologies used to deliver drugs in a polymer based matrix to hold/enclose the drug.

Target Products:

  • CEFORM
  • SmartCoat/SmartCoat AQ
  • Multipart
  • Chronotabs
  • Dimatrix
  • Consurf
  
Taste Masking
Drug Delivery Technologies used to mask the taste of various drugs.

Target Products:

  • ShearForm
  
Veterinary Products and Services  
Veterinary Diagnostics
The Veterinary Diganostics Subsector includes companies that manufacture veterinary diagnostics for the detection and monitoring of veterinary diseases.

Buyer Products:

  • Protherics Enfer TSE Diagnostic Kit
  

- 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
Target
  Teva Pharmaceutical Industries Ltd (ADR) n/a 26,074.362 1,055.64 15.89 3.97 3.09 -846.57
King Pharmaceuticals n/a 3,996.520 21.15 10.09 2.08 2.12 3.71
Sciele Pharma Inc. n/a 700.888 16.98 17.28 2.65 2.48 12.66
Penwest Pharmaceuticals n/a 456.947 n/a -13.10 76.48 75.97 n/a
Flamel Technologies S.A. (ADR) n/a 406.378 n/a -15.68 21.18 14.48 n/a
Impax Laboratories Inc. n/a 371.378 739.66 6.46 3.30 1.68 6.33
AVANIR Pharmaceuticals n/a 215.078 n/a -3.88 8.35 11.37 6.78
SCOLR Pharma Inc. n/a 189.979 n/a n/a 296.65 n/a 15.49
DepoMed, Inc. n/a 167.535 n/a -5.61 29.24 12.57 135.55
Advancis Pharmaceutical Corporation n/a 132.427 n/a -4.05 10.12 9.28 7.51
Medicure Inc. (USA) n/a 127.873 n/a n/a 722.67 n/a 12.84
Elite Pharmaceuticals, Inc. n/a 40.902 n/a n/a 74.27 n/a 4.21
BioDelivery Sciences International, Inc. n/a 31.779 n/a n/a 39.25 n/a -7.91
Access Pharmaceuticals, Inc. n/a 2.472 n/a n/a n/a n/a -0.25

- 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
  Symbion Health Limited n/a 1,495.227 24.73 n/a 0.51 n/a 5.19
Target
  GlaxoSmithKline plc (ADR) n/a 157,749.428 16.17 15.59 3.62 3.73 17.12
Merck & Co., Inc. n/a 86,000.583 15.55 15.78 3.85 3.99 4.90
Wyeth n/a 63,595.794 16.78 15.21 3.27 3.18 6.73
Teva Pharmaceutical Industries Ltd (ADR) n/a 26,074.362 1,055.64 15.89 3.97 3.09 -846.57
Flamel Technologies S.A. (ADR) n/a 406.378 n/a -15.68 21.18 14.48 n/a
Newkirk Realty Trust, Inc. n/a 322.594 11.04 7.06 1.36 1.34 2.05
DepoMed, Inc. n/a 167.535 n/a -5.61 29.24 12.57 135.55
Ethypharm n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Target
  GlaxoSmithKline plc (ADR) n/a 157,749.428 16.17 15.59 3.62 3.73 17.12
AstraZeneca PLC (ADR) n/a 98,768.323 18.17 16.47 3.97 3.83 9.59
Merck & Co., Inc. n/a 86,000.583 15.55 15.78 3.85 3.99 4.90
Teva Pharmaceutical Industries Ltd (ADR) n/a 26,074.362 1,055.64 15.89 3.97 3.09 -846.57
Forest Laboratories, Inc. n/a 15,284.631 22.77 19.40 4.98 4.76 5.75
KOS Pharmaceuticals, Inc. n/a 2,171.188 29.41 26.31 2.67 2.51 4.18
DepoMed, Inc. n/a 167.535 n/a -5.61 29.24 12.57 135.55

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  AstraZeneca PLC (ADR) n/a 98,768.323 18.17 16.47 3.97 3.83 9.59
Altana AG (ADR) n/a 7,780.441 13.43 13.22 1.75 n/a 4.21
Symbion Health Limited n/a 1,495.227 24.73 n/a 0.51 n/a 5.19
Beacon Pharmaceuticals Ltd. n/a n/a n/a n/a n/a n/a n/a
Cancer Research UK n/a n/a n/a n/a n/a n/a n/a
Enfer Scientific Ltd. n/a n/a n/a n/a n/a n/a n/a
Swedish Orphan AB n/a n/a n/a n/a n/a n/a n/a
Target
  Johnson & Johnson n/a 188,429.910 17.37 17.41 3.67 3.55 6.86
GlaxoSmithKline plc (ADR) n/a 157,749.428 16.17 15.59 3.62 3.73 17.12
sanofi-aventis (ADR) n/a 127,378.760 27.87 13.44 3.35 3.53 -9.12
Merck & Co., Inc. n/a 86,000.583 15.55 15.78 3.85 3.99 4.90
Wyeth n/a 63,595.794 16.78 15.21 3.27 3.18 6.73
Teva Pharmaceutical Industries Ltd (ADR) n/a 26,074.362 1,055.64 15.89 3.97 3.09 -846.57
Forest Laboratories, Inc. n/a 15,284.631 22.77 19.40 4.98 4.76 5.75
Solvay SA (ADR) n/a 9,790.273 11.14 n/a 0.87 n/a 3.87
KOS Pharmaceuticals, Inc. n/a 2,171.188 29.41 26.31 2.67 2.51 4.18
Flamel Technologies S.A. (ADR) n/a 406.378 n/a -15.68 21.18 14.48 n/a
DepoMed, Inc. n/a 167.535 n/a -5.61 29.24 12.57 135.55
Hemispherx BioPharma, Inc n/a 134.549 n/a n/a 126.95 n/a 5.10
DOV Pharmaceutical, Inc. n/a 25.389 n/a -0.39 3.19 4.17 -0.69
H. Lundbeck A/S n/a n/a n/a n/a n/a n/a n/a
Reliant Pharmaceuticals, LLC n/a n/a n/a n/a n/a n/a n/a
Ethypharm 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 33.3 993.3 1,026.6
Other Revenue 0.0 25.7 25.7
Total Revenue 33.3 1,019.0 1,052.3
Cost of Revenue 21.2 216.7 237.9
SG&A Expense 17.3 218.8 236.1
Depreciation & Amortization 0.0 60.5 60.5
Research & Development 12.7 86.9 99.6
Interest Expense 0.0 4.5 4.5
Other Operating Expense 0.0 0.0 0.0
Unusual Expense (Income) 0.0 3.9 3.9
Total Expenses 51.2 591.3 642.5
Operating Income -17.9 427.7 409.8
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -0.1 -18.9 -18.9
Other, Net 0.0 -0.9 -0.9
Income Before Taxes -18.0 407.9 389.9
Income Taxes -0.1 29.2 29.0
Income After Taxes -17.8 378.7 360.9
Net Income - Excl. Xord. Items -17.8 378.7 360.9
Discontinued Operations 0.0 -12.3 -12.3
Net Income - Incl. Xord. Items -17.8 366.5 348.6
Income Avail. to Common -17.8 366.5 348.6
Share Items
Basic Avg. Shares Outstanding 25.1 160.1 185.1
Basic EPS - Excl. Xord. Items n/a 2.37 1.95
Basic EPS - Incl. Xord. Items n/a 2.29 1.88
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 25.1 160.1 185.1
F.D. EPS - Excl. Xord. Items n/a 2.37 1.95
F.D. EPS - Incl. Xord. Items n/a 2.29 1.88
Dividends Per Common Share 0.00 0.75 0.75
Balance Sheet
Assets
Cash and Equivalents 47.8 571.3 619.1
Accounts Receivable 9.8 121.0 130.9
Inventory 20.5 87.6 108.1
Prepayments and Advances 0.0 8.1 8.1
Other Current Assets 0.0 0.0 0.0
Current Assets 78.1 788.1 866.2
Accum D&A 0.0 0.0 0.0
PPE, Net 15.2 221.5 236.7
Goodwill & Intangibles 19.3 976.3 995.6
Long Term Investments 0.0 72.7 72.7
Other Assets 0.0 0.0 0.0
Other LT Assets 0.4 53.6 54.0
Total Assets 113.0 2,112.1 2,225.2
Liabilities
Accounts Payable 29.6 41.0 70.5
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 0.0 92.5 92.5
ST Debt 0.1 0.0 0.1
Curr Port of LTD & Cap Lease Oblg 1.2 17.8 19.0
Other (Current) Liabilities 0.8 103.8 104.6
Current Liab. 31.6 255.1 286.7
LT Debt 5.1 400.5 405.6
Capitalized Lease Obligations 2.3 0.0 2.3
Total LT Debt 7.3 400.5 407.9
Other LT Liab. 24.6 104.9 129.5
Total Liabilities 63.5 760.5 824.0
Shareholders Equity
Common Stock 9.7 1,472.7 1,482.4
Additional Paid in Capital 163.1 10.1 173.2
Retained Earnings -122.9 -185.2 -308.1
Other Equity -0.4 54.0 53.6
Total Equity 49.5 1,351.6 1,401.1
Total Liab. & Equity 113.0 2,112.1 2,225.2
Shares Outstanding 25.9 160.2 186.1
Cash Flow
Operating Cash Flow
CF Net Income -17.9 377.0 359.1
CF Depreciation 2.6 103.6 106.2
CF Amortization 0.2 0.0 0.2
CF Deferred Taxes 0.0 0.0 0.0
Other Non-Cash Items 1.6 17.2 18.8
Change in Working Capital 37.1 50.3 87.4
Total Cash From Operating Activities 23.6 548.1 571.7
Investing Cash Flow (not calculated)
Capital Expenditures -3.7 -84.8 -88.5
Other Investing Cash Flows 1.3 -0.3 1.0
Total Cash From Investing Activities -2.4 -85.1 -87.5
Financing Cash Flow (not calculated)
Dividends Paid 0.0 -119.8 -119.8
Purchase Or Sale of Stock 15.1 14.4 29.5
Purchase and Retirement of Debt -1.1 7.7 6.7
Other Financing Cash Flow -0.7 -0.1 -0.9
Total Cash From Financing Activities 13.0 -137.4 -124.4
Exchange Rate Effects 0.0 0.2 0.2
Net Change in Cash 34.2 325.9 360.1
Cash Taxes Paid 0.1 9.2 9.3
Cash Interest Paid 0.7 31.4 32.1