Summary

Other Scenarios:

Buyer: Chiron Corporation (CHIR) Last Price: 47.94 Market Cap.: 9.45B
Target: Serono S.A. (ADR) (SRA) Last Price: 15.69 Market Cap.: 9.16B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 857
Biopharmaceuticals 314
Medical Devices 245
Outsourced Services   69

- 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: 42)
  • Regranex (Beclapermin)
  • Betaseron (Interferon Beta-1b)
  • TOBI (Tobramycin)
  • (Tobi) Inhalable Tobramycin
Target (Total: 43)
  • r-IL-18bp (Recombinant Interleukin 18 Binding Protein)
  • Type 1 5-Alpha Reductase Inhibitor
  • Zorbtive (Somatropin)
  • r-IFNB-1a (Recombinant Human Interferon Beta-1a)
Buyer
  • vCJD Immunoassay Kit
  • HTLV-III ELISA
  • HTLV-I/II ELISA
  • HBsAg System 3 ELISA
Target
  • Rebiject/Rebiject II
  • Cool.click
  • SeroJet
  • one.click

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 15)
  • International Business Machines Corp. (IBM)
  • sanofi-aventis (ADR) (SNY)
  • Novartis AG (ADR) (NVS)
  • Amgen, Inc. (AMGN)
Target (Total: 13)
  • Bioject Medical Technologies Inc. (BJCT)
  • Vertex Pharmaceuticals Incorporated (VRTX)
  • ZymoGenetics, Inc. (ZGEN)
  • Regeneron Pharmaceuticals, Inc. (REGN)
Buyer (Total: 16)
  • Schering AG (ADR) (SHR)
  • Johnson & Johnson (JNJ)
  • GlaxoSmithKline plc (ADR) (GSK)
  • sanofi-aventis (ADR) (SNY)
Target (Total: 9)
  • Roche Holding Ltd. (ADR) (RHHBY)
  • Amgen, Inc. (AMGN)
  • Abbott Laboratories (ABT)
  • Schering AG (ADR) (SHR)

Key Financial Summary:

Metric Buyer Target
Number of Employees 5,500 4,826
Revenue Per Employee 447,737.9 556,298.4
Total Revenue 614.0 669.9
Total Expenses 476.6 506.3
Other Revenue 15.2 65.4
Cost of Revenue 221.1 67.0
SG&A Expense 125.4 223.9
Research & Development 109.3 144.6
Other Operating Expense 7.7 70.8
Operating Income 137.4 163.6
Unusual Income 1.1 0.0
Gross Margin % 63.99 90
Metric Buyer Target
Operating Margin % 22.38 24.42
Total Assets 4,747.5 3,921.2
Return on Equity % 18.5 26.58
Cash+ ST Inv. Per Share 3.37 1.58
Total Debt 1,097.2 663.6
Curr Portion of LTD/Cap Lease 49.6 0.0
Total Debt to Equity 36.77 30.58
LT Debt to Capital 25.98 22.64
Fwd P/E 26.49 17.05
Fwd P/Rev 4.31 3.46
Book Value 2,984.1 2,170.0

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals > Infectious Diseases

Target

Focused (): *Healthcare > Biopharmaceuticals > Neurology

Business Description

Buyer

Chiron Corporation is a global biopharmaceutical company. The Company operates in three healthcare three-business units: blood testing, vaccines and biopharmaceuticals. Its Blood Testing is dedicated to preventing the spread of infectious diseases through the development and sale of blood-screening assays and equipment that protect the world's blood supply. Its vaccines segment offers approximately 20 influenza, meningococcal, travel, and pediatric and other vaccines. The biopharmaceuticals segment researches, develops, manufactures and markets a range of therapeutic products for cancer and infectious and pulmonary disease.

Target

Serono S.A. is a biotechnology company that discovers, develops, manufactures and markets therapeutic products for the treatment of human diseases in selected therapeutic areas. It focuses on specialized markets of neurology, reproductive health, growth and metabolism, dermatology, oncology and autoimmune diseases. Serono markets eight biotechnology products: Rebif, Gonal-f, Saizen, Serostim, Raptiva, Ovidrel, Luveris and Zorbtive. All of the Company's recombinant products are produced using mammalian cell technology. Serono has more than 25 post-discovery projects in pre-clinical or clinical development. The Company has a global presence with operations in over 40 countries, five principal production facilities located in four countries and sales in over 90 countries.

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals
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.
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.
  
Transplantation
The Transplantation Subsectors includes therapeutics that treat rejection and infection associated with tissue transplantation into the human body.
  
Urology
The Urology Subsector includes therapeutics that treat diseases of the kidney, urinary tract, bladder, and the male reproductive system.
  
Weight Management
The Weight Management Subsectors includes herapeutics that treat and manage weight disorders.
  
Wound Management
The Wound Management Subsector includes therapeutics that treat cuts, abrasions, and burns from trauma or diseases.
  
Medical Devices
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.
  
Transfusion Medicine
The Transfusion Medicine Subsector includes medical devices and accessories that prepare or implement blood transfusion.
  
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 Discovery Services
The Drug Discovery Services Subsector includes companies that provide biopharmaceutical companies with novel biological targets and drug leads.
  

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

Target Products:

  • r-IL-18bp (Recombinant Interleukin 18 Binding Protein)
  • Type 1 5-Alpha Reductase Inhibitor
  
Ulcers  
Diabetic Foot  
Platelet Derived Growth Factors (PDGF)
Therapeutics that treat foot ulcers by promoting the recruitment of cells involved in tissue repair and also enhancing the formation of granulation tissue.

Buyer Products:

  • Regranex (Beclapermin)
  
Digestive System  
Gastrointestinal Tract Disorders  
Intestinal Disorders  
Short Bowel Syndrome  
Growth Hormones
Therapeutics similar to pituitary hormones, which stimulate body growth and development to treat a disorder resulting from operative resection of the intestines leading to impaired absorption and digestion in the intestines.

Target Products:

  • Zorbtive (Somatropin)
  
Liver Disorders  
Hepatitis  
Hepatitis C  
Chronic  
Interferons
Therapeutics that treat hepatitis by providing a naturally occurring protein that stimulates the immune system.

Target Products:

  • r-IFNB-1a (Recombinant Human Interferon Beta-1a)
  
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:

  • Kappaproct
  • r-IL-18bp (Recombinant Interleukin 18 Binding Protein)
  • r-IFNB-1a (Recombinant Human Interferon Beta-1a)
  
Endocrinology/Metabolism  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of endocrinology disorders in early stages of clinical research where human subject is involved.

Target Products:

  • PTP 1b Inhibitor
  • PEG GHRF
  
Pituitary Gland Disorders  
Lipodystrophy  
Growth Hormones
Therapeutics that treat lipodystrophy by providing a hormone which stimulates body growth and development.

Target Products:

  • Serostim (Somatropin)
  
Severe Short Stature  
Growth Hormones
Therapeutics similar to pituitary hormones, which stimulate body growth and development.

Target Products:

  • Geref (Sermorelin Acetate For Injection)
  • Saizen (Somatropin (rDNA Origin))
  
Turner`s Syndrome  
Growth Hormones
Therapeutics similar to pituitary hormones, which stimulate body growth and development.

Target Products:

  • Saizen (Somatropin (rDNA Origin))
  
Reproductive Disorders  
Amenorrhea  
Progestins
Female sex hormone necessary for the development of the female reproductive system.

Target Products:

  • Crinone (Progesterone Gel)
  
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:

  • PTP 1b Inhibitor
  
Immunology
Autoimmune Disorders
Multiple Sclerosis (MS)
Adenosine Deaminase Inhibitors
Therapeutics that treat multiple sclerosis by inhibiting the transformation of deoxyadenosine into deoxyinosine, thereby impairing the proliferation of certain white blood cells.

Target Products:

  • Mylinax (Cladribine)
  
Interferons
Therapeutics that treat multiple sclerosis with a recombinant human protein that downregulates the antibody response of the immune system.

Buyer Products:

  • Betaseron (Interferon Beta-1b)

Target Products:

  • Rebif (Recombinant Interferon Beta-1a)
Topoisomerase II Inhibitors
Therapeutics that treat a neurodegenerative disease characterized by the gradual accumulation of plaques on the nerve sheaths an enzyme that inhibits the proliferation of cells.

Target Products:

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

Target Products:

  • Kappaproct
  • TACI-Ig
  • r-IL-18bp (Recombinant Interleukin 18 Binding Protein)
  • r-IFNB-1a (Recombinant Human Interferon Beta-1a)
  • JNK Inhibitor
  • SC12267
  • Raptiva (Efalizumab)
  • MMP-12 Inhibitor
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of immune disorders in very early stages of research where no human subject is involved.

Target Products:

  • Kappaproct
  • NI-040/NI-0501
  • Chemokine Inhibitor
  • JNK Inhibitor
  • Raptiva (Efalizumab)
  • HuMax-TAC
  
Infectious Diseases
Bacterial  
Antibacterial Agents  
Narrow Spectrum  
Respiratory System  
Cystic Fibrosis/Pseudomonas Aeruginosa  
Aminoglycosides
Therapeutics that treat a generalized genetic disorder characterized by excess mucous production in the lungs that leads to severe respiratory infection by inhibiting bacterial protein synthesis.

Buyer Products:

  • TOBI (Tobramycin)
  • (Tobi) Inhalable Tobramycin
  
Pneumonia  
Tissue Factor Pathway Inhibitor (TFPI)
Therapeutics that treat pneumonia by blocking a key step in blood coagulation.

Buyer Products:

  • Tifacogin
  
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:

  • Multivalent (ACYW) Meningococcal Vaccine
  • PA-824
  • HIV Vaccine
  • Meningococcus B Vaccine
  • Flu Cell Culture Vaccine
  • Hepatitis C (HCV) Vaccine
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of infectious diseases in very early stages of research where no human subject is involved.

Buyer Products:

  • H9N2 Avian Influenza Vaccine
  
Viral
RNA Viruses  
Flavivirus  
Hepatitis C  
Chronic  
Interferons
Therapeutics that treat hepatitis by providing a naturally occurring protein that stimulates the immune system.

Target Products:

  • r-IFNB-1a (Recombinant Human Interferon Beta-1a)
  
Vaccines  
Viral  
Single Target  
Influenza (Flu)
Therapeutics that prevent or treat viral infections of the respiratory tract by producing or artificially increasing immunity to the Influenza virus.

Buyer Products:

  • Fluvirin (Triple Antigen Flu Vaccine)
  
Rabies
Therapeutics that prevent or treat viral infections that infect brain cells by producing or artificially increasing immunity to the rabies virus.

Buyer Products:

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

Target Products:

  • Raptiva (Efalizumab)
  • TACI-Ig
  • r-IL-18bp (Recombinant Interleukin 18 Binding Protein)
  
Neurology
Neuromuscular Disorders
Multiple Sclerosis (MS)
Adenosine Deaminase Inhibitors
Therapeutics that treat multiple sclerosis by inhibiting the transformation of deoxyadenosine into deoxyinosine, thereby impairing the proliferation of certain white blood cells.

Target Products:

  • Mylinax (Cladribine)
  
Interferons
Therapeutics that treat multiple sclerosis with a recombinant human protein that down regulates the antibody response of the immune system.

Buyer Products:

  • Betaseron (Interferon Beta-1b)

Target Products:

  • Rebif (Recombinant Interferon Beta-1a)
Topoisomerase II Inhibitors
Therapeutics that treat multiple sclerosis by inhibiting a key enzyme involved with cell division.

Target Products:

  • Novantrone (Mitoxantrone 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:

  • MMP-12 Inhibitor
  • JNK Inhibitor
  • r-IFNB-1a (Recombinant Human Interferon Beta-1a)
  
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:

  • MMP-12 Inhibitor
  • Chemokine Inhibitor
  • JNK Inhibitor
  • Osteopontin
  • Recombinant Interleukin-6 (Atexakin Alfa)
  
Obstetrics/Gynecology  
Female Genital Disorders  
Infertility  
Complications  
Premature Ovulation  
Gonadotropin Releasing Hormone (GnRH) Antagonists
Therapeutics that prevent premature ovulation by blocking the action of gonadotropin releasing hormone, which can stimulate ovulation.

Target Products:

  • Cetrotide (Cetrorelix Acetate)
  
Hormonal Treatments  
Gonadotropins
Therapeutics that treat difficulties in conceiving by stimulating sex hormone secretion from the female gonads.

Target Products:

  • Luveris (Lutropin alfa)
  • Ovidrel/Ovidrel Pre-Filled Syringe (Choriogonadotropin Alfa)
  
Ovulation Stimulating Agents
Therapeutics that treat infertility by stimulating the ovaries to release a mature egg.

Target Products:

  • Serophene (Clomiphene Citrate)
  • Gonal-F (Follitropin Alfa)
  • Gonal-F Pen (Fllitropin Alfa Injection)
  
Progestins
Therapeutics that treat female disorders characterized by the inability to achieve pregnancy or carry a pregnancy to term by increasing progesterone level in the body to induce uteran conditions favorable to conception and pregnancy.

Target Products:

  • Crinone (Progesterone Gel)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of female reproductive disorders in early stages of clinical research where human subject is involved.

Target Products:

  • Onercept (r-TBP-1)
  • Microencapsulated r-FSH
  • Anastrozole
  • Oxytocin Receptor Antagonist
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of female reproductive disorders in very early stages of research where no human subject is involved.

Target Products:

  • Prostanoid FP Receptor Antagonist
  
Oncology
Dermatology
Malignant Melanoma
Interleukins  
Interleukin-2 (IL-2)
Therapeutics that treat and manage skin cancers that have spread beyond their original tumor site by providing a naturally occurring protein that stimulates the immune system.

Buyer Products:

  • Proleukin (Aldesleukin)
  
Vaccines
Therapeutics that are meant to promote an immune response against a patient's melanoma.

Target Products:

  • Canvaxin
  
Hematology  
Lymphoma  
Cutaneous T-Cell (CTCL)  
Mycosis Fungoides  
Monoclonal Antibodies
Therapeutics that treat T-cell lymphomas by binding to specific structures on the surface of the tumor and eliciting a reaction, which results in tumor degeneration.

Target Products:

  • HuMax-CD4 (Zanolimumab)
  
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:

  • CHIR-12.12 (Anti-CD40)
  • CHIR-258
  • CHIR-265
  • Proleukin (Aldesleukin)

Target Products:

  • MT201 (Adecatumumab)
  • Type 1 5-Alpha Reductase Inhibitor
  • TACI-Ig
  • HuMax-CD4 (Zanolimumab)
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:

  • R763
  
Urology  
Kidney Cancer (Renal Cell Carcinoma)  
Metastatic  
Interleukins  
Interleukin-2 (IL-2)
Therapeutics that treat and manage renal cancers that have spread beyond their original tumor site by providing a naturally occurring protein that stimulates the immune system.

Buyer Products:

  • Proleukin (Aldesleukin)
  
Respiratory System  
Lower Respiratory Tract Disorders (Lung Disorders)  
Cystic Fibrosis (CF)  
Complications  
Bacterial Infections  
Antibacterial Agents (Antibiotics)  
Aminoglycosides
Therapeutics that treat bacterial infections of the lung resulting as a complication of cystic fibrosis by interfering with RNA, thus leading to inhibition of protein synthesis.

Buyer Products:

  • TOBI (Tobramycin)
  • (Tobi) Inhalable Tobramycin
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of respiratory disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • TOBI (Tobramycin)
  
Transplantation  
Lung  
Rejection Prophylaxis  
Immunosuppressants
Therapeutics that manage and suppress the response of the immune system to foreign tissue.

Buyer Products:

  • Pulminiq (Aerosolized Cyclosporine)
  
Urology  
Male Genital Disorders  
Testicular  
Hypogonadism  
Gonadotropins
Therapeutics that treat hypogonadism by providing gonadotropins which stimulate sex hormone secretion from the gonads.

Target Products:

  • Gonal-F (Follitropin Alfa)
  
Weight Management  
Cachexia  
Growth Hormones
Therapeutics that treat weight loss usually resulting from cancer and/or AIDS treatment by providing a hormone which stimulates body growth and development.

Target Products:

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

Target Products:

  • PTP 1b Inhibitor
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of weight disorders in very early stages of research where no human subject is involved.

Target Products:

  • PTP 1b Inhibitor
  
Wound Management  
Ulcers  
Diabetic Foot  
Platelet Derived Growth Factors (PDGF)
Therapeutics that treat foot ulcers by promoting the recruitment of cells involved in tissue repair and also enhancing the formation of granulation tissue.

Buyer Products:

  • Regranex (Beclapermin)
  
Medical Devices
Clinical Diagnostics  
Immunoassays  
Reagents  
Test Kits  
Special/Immuno Chemistry  
Creutzfeldt-Jakob Disease (Mad Cow Disease)
Immunoassay test kits which help diagnose Creutzfeldt-Jakob Disease (Mad Cow Disease).

Buyer Products:

  • vCJD Immunoassay Kit
  
Viral  
HTLV I/II/III
Immunoassay kit which tests for the presence of infectious disease or previous infection caused by the HTLV I, II and III viruses.

Buyer Products:

  • HTLV-III ELISA
  • HTLV-I/II ELISA
  
Hepatitis
Immunoassay kits which tests for current or previous infection caused by Hepatitis viruses.

Buyer Products:

  • HBsAg System 3 ELISA
  • HCV 3.0 ELISA
  • HBCore ELISA
  • HCV Ag ELISA 2.0
  • HBsAg System 2 ELISA
  • Anti HBS ECi
  • RIBA HCV 3.0 SIA
  • Anti HCV ECi
  • HBsAg ECi
  
Human Immunodeficiency Virus (HIV)  
Serum  
EIA
Immunoassay kit which tests for the presence of infectious disease caused by the Human Immunodeficiency Virus in serum or plasma using EIA methodologies.

Buyer Products:

  • HIV-1/2 ELISA
  • RIBA HIV-1/HIV-2 SIA
  
Microbiology  
Genetic Probes/PCR  
Automated Analyzers
Analyzers designed for genetic probe assays.

Buyer Products:

  • Procleix Optiva System
  • Procleix System
  • Procleix Tigris System
  
Reagents  
Viral  
Hepatitis B Virus
Genetic probes for detection and/or quantitation of HBV.

Buyer Products:

  • Procleix Ultrio Assay
  
Hepatitis C Virus
Genetic probes for detection and/or quantitation of HCV.

Buyer Products:

  • Procleix HIV-1/HCV Assay
  • Procleix Ultrio Assay
  
Human Immunodeficiency Virus (HIV)
Genetic probes for detection and quantification of HIV.

Buyer Products:

  • Procleix HIV-1/HCV Assay
  • Procleix Ultrio Assay
  
West Nile Virus
Genetic probe for detection and/or quantitation of West Nile Virus.

Buyer Products:

  • Procleix West Nile Virus Assay
  
Drug Delivery  
Transdermal  
Needle Free Injection Systems
Medical devices which generate a highly-pressurized jet of medication for direct delivery through the skin; also known as jet-injectors

Target Products:

  • Rebiject/Rebiject II
  • Cool.click
  • SeroJet
  • one.click
  
Transfusion Medicine  
Immunohematology  
Blood Conversion System
Devices that convert blood group A or B to O to facilitate transfusion procedures.

Buyer Products:

  • A-ECO Blood System
  
Outsourced Services  
Development/Manufacturing Services  
Contract Manufacturing Organizations (CMO)  
Pharmaceuticals  
Biologics
Active Ingredient Contract Manufacturing Organizations (CMO) that manufacture antibodies, proteins, and genetic materials.

Buyer Products:

  • Contract Manufacturing Services
  
Drug Discovery Services  
Target Discovery/Validation  
Services
Drug discovery services that discover and validate drug targets for the development of novel biopharmaceutical drugs.

Buyer Products:

  • Sagres Discovery Oncogenome
  

- 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 180,093.387 22.38 12.19 3.51 3.48 12.80
Wyeth n/a 62,226.960 16.96 15.25 3.32 3.09 7.90
Eli Lilly & Co. n/a 60,194.193 30.36 17.02 4.11 3.86 5.58
Teva Pharmaceutical Industries Ltd (ADR) n/a 25,827.609 24.04 20.59 4.92 3.15 8.81
Biogen Idec Inc n/a 15,498.211 95.77 22.41 6.40 5.82 5.54
Elan Corporation, plc (ADR) n/a 6,201.242 n/a -17.63 12.65 10.06 -9.56
Tercica, Inc. n/a 223.067 n/a -4.38 n/a 19.43 3.93
Vical Incorporated n/a 159.602 n/a -6.27 13.30 10.01 2.13
Buyer
  Pfizer Inc. n/a 180,093.387 22.38 12.19 3.51 3.48 12.80
GlaxoSmithKline plc (ADR) n/a 152,087.937 18.72 17.97 4.05 4.03 27.09
Target
  Pfizer Inc. n/a 180,093.387 22.38 12.19 3.51 3.48 12.80
Genentech, Inc. n/a 86,076.342 67.37 45.63 12.98 9.88 15.42
Wyeth n/a 62,226.960 16.96 15.25 3.32 3.09 7.90
Eli Lilly & Co. n/a 60,194.193 30.36 17.02 4.11 3.86 5.58
Teva Pharmaceutical Industries Ltd (ADR) n/a 25,827.609 24.04 20.59 4.92 3.15 8.81
Novo Nordisk A/S (ADR) n/a 20,193.337 21.79 21.81 3.74 n/a 4.65
Schering AG (ADR) n/a 19,731.499 26.52 24.44 3.09 n/a 6.39
Biogen Idec Inc n/a 15,498.211 95.77 22.41 6.40 5.82 5.54
Akzo Nobel N.V. (ADR) n/a 15,024.506 17.23 15.93 0.99 0.95 4.59
Chiron Corporation n/a 9,451.587 51.12 26.49 4.92 4.31 5.84
Solvay SA (ADR) n/a 9,435.465 10.09 n/a 0.93 n/a 2.64
Elan Corporation, plc (ADR) n/a 6,201.242 n/a -17.63 12.65 10.06 -9.56
Neurocrine Biosciences, Inc. n/a 2,270.097 n/a 57.02 18.32 11.20 5.82
Par Pharmaceutical Companies, Inc n/a 942.915 n/a 20.10 2.18 1.53 2.82
Renovis, Inc. n/a 543.211 n/a -17.63 81.73 60.44 5.00

- 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
  Phase Forward Incorporated n/a 384.718 109.91 39.21 4.42 3.81 10.08
Buyer
  International Business Machines Corp. n/a 128,488.325 16.37 14.13 1.41 1.41 5.84
sanofi-aventis (ADR) n/a 127,939.289 n/a 13.23 4.40 3.65 5.96
Novartis AG (ADR) n/a 115,962.020 22.25 18.00 3.57 3.25 3.52
Amgen, Inc. n/a 82,623.807 22.71 19.41 6.65 5.80 13.30
Baxter International Inc. n/a 24,024.789 24.91 17.89 2.44 2.32 10.66
Schering AG (ADR) n/a 19,731.499 26.52 24.44 3.09 n/a 6.39
Gen-Probe Incorporated n/a 2,718.419 45.10 51.86 8.88 8.11 6.67
Cubist Pharmaceuticals n/a 1,119.137 n/a -230.00 9.28 5.39 -80.62
Crucell N.V. (ADR) n/a 1,063.780 n/a n/a 23.09 20.76 6.43
Sirna Therapeutics, Inc. n/a 447.674 n/a -24.70 91.43 24.87 11.30
Phase Forward Incorporated n/a 384.718 109.91 39.21 4.42 3.81 10.08
Target
  Bioject Medical Technologies Inc. 39.00% 20.671 n/a n/a 1.64 n/a 3.21
Vertex Pharmaceuticals Incorporated n/a 3,924.116 n/a -18.34 24.39 17.48 16.41
ZymoGenetics, Inc. n/a 1,405.914 n/a -9.90 32.76 41.43 4.21
Regeneron Pharmaceuticals, Inc. n/a 809.100 n/a -6.03 12.22 13.41 7.10
Ness Technologies, Inc n/a 432.996 19.81 15.12 1.12 0.91 4.97
Phase Forward Incorporated n/a 384.718 109.91 39.21 4.42 3.81 10.08
Columbia Laboratories n/a 239.029 n/a n/a 10.84 n/a -15.78
Vernalis plc (ADR) n/a 218.152 n/a n/a 7.75 n/a -20.50
Caliper Life Sciences Inc. n/a 206.335 n/a -30.45 2.37 1.79 5.06
XOMA Limited n/a 174.283 n/a 32.33 9.33 8.63 -8.43
CancerVax Corporation n/a 77.430 n/a -2.39 1.92 19.36 2.92
Axonyx Inc. n/a 60.659 n/a n/a 74.85 n/a 1.04
Owen Mumford Ltd. 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
Overlap
  Schering AG (ADR) 10.60% 19,731.499 26.52 24.44 3.09 n/a 6.39
Abbott Laboratories n/a 63,852.982 19.09 16.40 2.86 2.90 14.33
Medco Health Solutions Inc. n/a 17,090.882 26.76 21.37 0.45 0.40 -97.33
Buyer
  Schering AG (ADR) 10.60% 19,731.499 26.52 24.44 3.09 n/a 6.39
Johnson & Johnson n/a 172,344.164 16.61 15.65 3.41 3.24 6.71
GlaxoSmithKline plc (ADR) n/a 152,087.937 18.72 17.97 4.05 4.03 27.09
sanofi-aventis (ADR) n/a 127,939.289 n/a 13.23 4.40 3.65 5.96
Merck & Co., Inc. n/a 74,228.204 16.16 14.38 3.37 3.57 4.55
Abbott Laboratories n/a 63,852.982 19.09 16.40 2.86 2.90 14.33
Medco Health Solutions Inc. n/a 17,090.882 26.76 21.37 0.45 0.40 -97.33
Henry Schein, Inc. n/a 4,054.789 26.77 21.80 0.87 0.78 8.46
Gen-Probe Incorporated n/a 2,718.419 45.10 51.86 8.88 8.11 6.67
PSS World Medical, Inc. n/a 1,231.781 29.34 28.05 0.77 0.76 6.85
Cubist Pharmaceuticals n/a 1,119.137 n/a -230.00 9.28 5.39 -80.62
Nabi Biopharmaceuticals n/a 344.009 n/a -12.57 3.18 2.70 4.12
National Health Service (United Kingdom) n/a n/a n/a n/a n/a n/a n/a
Target
  Roche Holding Ltd. (ADR) n/a 128,694.321 28.56 28.26 4.65 4.23 7.33
Amgen, Inc. n/a 82,623.807 22.71 19.41 6.65 5.80 13.30
Abbott Laboratories n/a 63,852.982 19.09 16.40 2.86 2.90 14.33
Schering AG (ADR) n/a 19,731.499 26.52 24.44 3.09 n/a 6.39
Medco Health Solutions Inc. n/a 17,090.882 26.76 21.37 0.45 0.40 -97.33
Biogen Idec Inc n/a 15,498.211 95.77 22.41 6.40 5.82 5.54
Akzo Nobel N.V. (ADR) n/a 15,024.506 17.23 15.93 0.99 0.95 4.59
BioScrip Inc. n/a 200.179 142.43 21.44 0.21 0.16 2.61
IntegraMed America, Inc. n/a 56.974 31.51 27.97 0.44 0.39 3.97

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Pfizer Inc. n/a 180,093.387 22.38 12.19 3.51 3.48 12.80
Roche Holding Ltd. (ADR) n/a 128,694.321 28.56 28.26 4.65 4.23 7.33
sanofi-aventis (ADR) n/a 127,939.289 n/a 13.23 4.40 3.65 5.96
Amgen, Inc. n/a 82,623.807 22.71 19.41 6.65 5.80 13.30
Abbott Laboratories n/a 63,852.982 19.09 16.40 2.86 2.90 14.33
Schering AG (ADR) n/a 19,731.499 26.52 24.44 3.09 n/a 6.39
Medco Health Solutions Inc. n/a 17,090.882 26.76 21.37 0.45 0.40 -97.33
Nektar Therapeutics n/a 1,871.131 n/a -16.29 14.82 11.15 7.96
XOMA Limited n/a 174.283 n/a 32.33 9.33 8.63 -8.43
Buyer
  Pfizer Inc. n/a 180,093.387 22.38 12.19 3.51 3.48 12.80
Johnson & Johnson n/a 172,344.164 16.61 15.65 3.41 3.24 6.71
Target
  Pfizer Inc. n/a 180,093.387 22.38 12.19 3.51 3.48 12.80
Roche Holding Ltd. (ADR) n/a 128,694.321 28.56 28.26 4.65 4.23 7.33
sanofi-aventis (ADR) n/a 127,939.289 n/a 13.23 4.40 3.65 5.96
Genentech, Inc. n/a 86,076.342 67.37 45.63 12.98 9.88 15.42
Amgen, Inc. n/a 82,623.807 22.71 19.41 6.65 5.80 13.30
AstraZeneca PLC (ADR) n/a 81,291.002 17.55 17.82 3.39 3.43 7.47
Abbott Laboratories n/a 63,852.982 19.09 16.40 2.86 2.90 14.33
Teva Pharmaceutical Industries Ltd (ADR) n/a 25,827.609 24.04 20.59 4.92 3.15 8.81
Schering AG (ADR) n/a 19,731.499 26.52 24.44 3.09 n/a 6.39
Medco Health Solutions Inc. n/a 17,090.882 26.76 21.37 0.45 0.40 -97.33
Biogen Idec Inc n/a 15,498.211 95.77 22.41 6.40 5.82 5.54
Akzo Nobel N.V. (ADR) n/a 15,024.506 17.23 15.93 0.99 0.95 4.59
Celgene Corporation n/a 13,095.053 237.30 99.89 24.39 16.51 25.93
Vertex Pharmaceuticals Incorporated n/a 3,924.116 n/a -18.34 24.39 17.48 16.41

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 1,888.3 2,338.9 4,227.1
Other Revenue 31.4 247.5 278.9
Total Revenue 1,919.7 2,586.4 4,506.0
Cost of Revenue 732.1 265.9 998.0
SG&A Expense 501.2 862.3 1,363.5
Depreciation & Amortization 66.2 0.0 66.2
Research & Development 433.9 593.6 1,027.5
Interest Expense 0.0 0.0 0.0
Other Operating Expense 20.5 267.1 287.7
Unusual Expense (Income) 15.7 725.0 740.7
Total Expenses 1,769.6 2,713.9 4,483.4
Operating Income 150.1 -127.5 22.6
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -30.6 40.3 9.6
Gain/Loss On Sale Of Assets -0.3 0.0 -0.3
Other, Net 83.7 14.9 98.5
Income Before Taxes 202.9 -72.4 130.5
Income Taxes 22.4 32.9 55.3
Income After Taxes 180.5 -105.3 75.2
Minority Interest (IS) 0.0 -0.8 -0.8
Net Income - Excl. Xord. Items 180.5 -106.1 74.4
Net Income - Incl. Xord. Items 180.5 -106.1 74.4
Income Avail. to Common 180.5 -106.1 74.4
Share Items
Basic Avg. Shares Outstanding 190.7 583.4 774.1
Basic EPS - Excl. Xord. Items 0.95 -7.32 0.10
Basic EPS - Incl. Xord. Items 0.95 -0.18 0.10
Full Dilution Adjustment 1.5 0.0 1.5
Fully Diluted Shares Outstanding 205.0 583.4 788.5
F.D. EPS - Excl. Xord. Items 0.90 -0.19 0.09
F.D. EPS - Incl. Xord. Items 0.90 -0.19 0.09
Dividends Per Common Share 0.00 0.19 0.19
Balance Sheet
Assets
Cash and Equivalents 291.4 358.9 650.3
ST Investments 400.4 565.5 966.0
Accounts Receivable 483.2 402.4 885.6
Inventory 231.7 248.5 480.1
Other Current Assets 185.1 199.2 384.3
Current Assets 1,591.9 1,774.4 3,366.3
PPE 1,517.9 0.0 1,517.9
Accum D&A -629.0 0.0 -629.0
PPE, Net 888.8 746.4 1,635.2
Goodwill & Intangibles 1,365.7 341.4 1,707.1
Long Term Investments 780.2 742.0 1,522.2
Note Receivable 7.1 0.0 7.1
Other Assets 0.0 0.0 0.0
Other LT Assets 113.8 317.0 430.8
Total Assets 4,747.5 3,921.2 8,668.7
Liabilities
Accounts Payable 117.9 343.5 461.4
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 93.9 0.0 93.9
ST Debt 0.0 28.6 28.6
Curr Port of LTD & Cap Lease Oblg 49.6 0.0 49.6
Other (Current) Liabilities 303.4 344.6 648.0
Current Liab. 564.8 716.7 1,281.5
LT Debt 890.9 635.0 1,526.0
Capitalized Lease Obligations 156.7 0.0 156.7
Total LT Debt 1,047.6 635.0 1,682.6
Minority Interest (BS) 10.8 0.9 11.7
Deferred Taxes 0.0 18.3 18.3
Other LT Liab. 140.2 380.2 520.4
Total Liabilities 1,763.3 1,751.2 3,514.5
Shareholders Equity
Common Stock 2.0 235.6 237.5
Additional Paid in Capital 2,850.5 500.6 3,351.2
Retained Earnings 104.1 1,818.6 1,922.7
Treasure Stock -88.4 -372.7 -461.2
Other Equity 115.9 -12.0 103.9
Total Equity 2,984.1 2,170.0 5,154.2
Total Liab. & Equity 4,747.5 3,921.2 8,668.7
Shares Outstanding 198.6 582.9 781.5
Cash Flow
Operating Cash Flow
CF Net Income 0.0 -105.3 -105.3
CF Depreciation 0.0 136.9 136.9
CF Deferred Taxes 0.0 0.0 0.0
Other Non-Cash Items 0.0 11.2 11.2
Change in Working Capital 192.0 -169.3 22.7
Total Cash From Operating Activities 192.0 -126.5 65.5
Investing Cash Flow
Capital Expenditures -151.5 -239.6 -391.1
Other Investing Cash Flows -293.5 467.4 173.9
Total Cash From Investing Activities -445.0 227.8 -217.2
Financing Cash Flow
Dividends Paid 0.0 -110.4 -110.4
Purchase Or Sale of Stock 363.0 29.2 392.1
Purchase and Retirement of Debt 1.8 79.1 80.9
Other Financing Cash Flow 0.0 -10.0 -10.0
Total Cash From Financing Activities 363.8 -16.8 347.0
Exchange Rate Effects -18.1 -1.7 -19.8
Net Change in Cash 92.7 82.9 175.5
Cash Taxes Paid 74.4 121.4 195.8
Cash Interest Paid 29.2 4.1 33.3