Summary

Other Scenarios:

Buyer: Chiron Corporation (CHIR) Last Price: 47.94 Market Cap.: 9.45B
Target: Medicis Pharmaceutical Corporation (MRX) Last Price: 32.50 Market Cap.: 1.77B

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: 19)
  • Novacet Lotion (Sodium Sulfacetamide/Sulfur)
  • Plexion/Plexion TS/Plexion SCT (Sodium Sulfacetamide/Sulfur)
  • Dynacin (Minocycline Hydrochloride)
  • Triaz (Benzoyl Peroxide)
Buyer
  • vCJD Immunoassay Kit
  • HTLV-III ELISA
  • HTLV-I/II ELISA
  • HBsAg System 3 ELISA
Target
  • Restylane (Hyaluronic Acid)

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: 6)
  • sanofi-aventis (ADR) (SNY)
  • Par Pharmaceutical Companies, Inc (PRX)
  • Q-Med, Inc. (QMED)
  • DPT Laboratories, Ltd.
Buyer (Total: 16)
  • Schering AG (ADR) (SHR)
  • Johnson & Johnson (JNJ)
  • GlaxoSmithKline plc (ADR) (GSK)
  • sanofi-aventis (ADR) (SNY)
Target (Total: 5)
  • McKesson Corporation (MCK)
  • Cardinal Health, Inc. (CAH)
  • AmerisourceBergen Corp. (ABC)
  • BioMarin Pharmaceutical (BMRN)

Key Financial Summary:

Metric Buyer Target
Number of Employees 5,500 356
Revenue Per Employee 447,737.9 889,246.7
Total Revenue 614.0 100.5
Total Expenses 476.6 63.9
Other Revenue 15.2 0.0
Cost of Revenue 221.1 14.3
SG&A Expense 125.4 38.8
Research & Development 109.3 4.7
Other Operating Expense 7.7 0.0
Operating Income 137.4 36.6
Unusual Income 1.1 0.0
Gross Margin % 63.99 85.82
Metric Buyer Target
Operating Margin % 22.38 36.44
Total Assets 4,747.5 1,043.3
Return on Equity % 18.5 20.26
Cash+ ST Inv. Per Share 3.37 8.73
Total Debt 1,097.2 453.1
Curr Portion of LTD/Cap Lease 49.6 0.0
Total Debt to Equity 36.77 93.16
LT Debt to Capital 25.98 48.23
Fwd P/E 26.49 26.64
Fwd P/Rev 4.31 5.02
Book Value 2,984.1 486.3

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals > Infectious Diseases

Target

Focused (): *Healthcare > Biopharmaceuticals > Dermatology

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

Medicis Pharmaceutical Corporation (Medicis) is an independent specialty pharmaceutical company focusing primarily on helping patients attain a healthy and youthful appearance and self-image through the development and marketing of products in the United States for the treatment of dermatologic, aesthetic and podiatric conditions in the United States and Canada. The Company offers a range of products addressing various conditions, including acne, fungal infections, rosacea, hyperpigmentation, photoaging, psoriasis, eczema, skin and skin-structure infections, seborrheic dermatitis and cosmesis (improvement in the texture and appearance of skin). Medicis offers 15 branded products, including DYNACIN (minocycline HCI), LOPROX (ciclopirox), OMNICEF (cefdinir), PLEXION (sodium sulfacetamide/sulfur), RESTYLANE (hyaluronic acid), TRIAZ (benzoyl peroxide) and VANOS (fluocinonide) Cream 0.1%. On March 20, 2005, the Company entered into an agreement and plan of merger with Inamed Corporation.

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Dermatology
The Dermatology Subsector includes therapeutics that treat disorders affecting the skin.
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.
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.
  
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.
  
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.
  
Plastic/Reconstructive Surgery
The Plastic/Reconstructive Surgery Subsector includes medical devices that treat and modify a patient's external appearance.
  
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
Acne  
Rosacea  
Para Aminobenzoic Acid (PABA) Inhibitors
Therapeutics that treat chronic inflammatory disorder of the face characterized by redness and pimple formation by inhibiting bacterial folic acid synthesis.

Target Products:

  • Novacet Lotion (Sodium Sulfacetamide/Sulfur)
  • Plexion/Plexion TS/Plexion SCT (Sodium Sulfacetamide/Sulfur)
  
Vulgaris  
Antibacterial Agents  
Tetracyclines
Therapeutics that treat acne caused by bacterial infections by inhibiting protein synthesis and also causing alterations in cytoplasmic membranes.

Target Products:

  • Dynacin (Minocycline Hydrochloride)
  
Keratolytic Agents
Therapeutics that soften, separate, and cause the shedding of skin.

Target Products:

  • Triaz (Benzoyl Peroxide)
  
Para Aminobenzoic Acid (PABA) Inhibitors
Therapeutics that treat bacterial infections of the skin by inhibiting a bacterial enzyme responsible for synthesis of folic acid.

Target Products:

  • Novacet Lotion (Sodium Sulfacetamide/Sulfur)
  • Plexion/Plexion TS/Plexion SCT (Sodium Sulfacetamide/Sulfur)
  
Aging Disorders  
Photoaging  
Enzymatic Oxidation Inhibitors
Therapeutics composed of plant hormones that treat the effects on the skin of aging and sun exposure.

Target Products:

  • Lustra/Lustra-AF (Hydroquinone)
  
Wrinkles  
Acetylcholine Inhibitors
Therapeutics that treat wrinkling through prevention of muscle contractions that can result in the formation of facial lines.

Target Products:

  • Reloxin (Botulinum Toxin Type A)
  
Lesion/Scaling Disorders  
Dermatitis  
Atopic (Eczema)  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat atopic dermatoses by inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site.

Target Products:

  • Vanos (Fluocinonide)
  • Synalar (Fluocinolone Acetonide)
  
Seborrheic (Dandruff)  
Antifungal Agents  
Imidazoles
Therapeutics that treat and prevent skin diseases caused by fungi.

Target Products:

  • Loprox (Ciclopirox)
  
Para Aminobenzoic Acid (PABA) Inhibitors
Therapeutics that treat bacterial infections of the skin by inhibiting a bacterial enzyme responsible for synthesis of folic acid.

Target Products:

  • Novacet Lotion (Sodium Sulfacetamide/Sulfur)
  • Plexion/Plexion TS/Plexion SCT (Sodium Sulfacetamide/Sulfur)
  
Dermatoses  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation by inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site.

Target Products:

  • Topicort/Topicort LP (Desoximetasone)
  • Lidex (Fluocinonide)
  • Vanos (Fluocinonide)
  
Pruritus  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation by inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site.

Target Products:

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

Target Products:

  • Vanos (Fluocinonide)
  • Synalar (Fluocinolone Acetonide)
  
Pigmentation Disorders  
Hyperpigmentation  
Enzymatic Oxidation Inhibitors
Therapeutics that treat disorders characterized by darkening of the skin by inhibiting metabolic processes of pigment producing skin cells.

Target Products:

  • Alustra (Hydroquinone)
  • Esoterica (Hydroquinone)
  
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)
  
Endocrinology/Metabolism  
Intermediary Metabolism Disorders  
Urea Cycle Disorders  
Glutamine Acetylyzing Agents
Therapeutics that conjugate with glutamine to help excrete nitrogen waste.

Target Products:

  • Ammonul (Sodium Phenylacetate, Sodium Benzoate)
  • Buphenyl (Sodium Phenylbutyrate)
  
Immunology
Autoimmune Disorders
Multiple Sclerosis (MS)  
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)
  
Psoriasis  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat a chronic autoimmune disease characterized by softening, separating, causing the shedding of the horny layer of the skin with a steroidal compound.

Target Products:

  • Vanos (Fluocinonide)
  • Synalar (Fluocinolone Acetonide)
  
Infectious Diseases
Arachnids  
Lice  
Cholinesterase Inhibitors
Therapeutics that treat Lice by inhibiting the break down of acetylcholine.

Target Products:

  • Ovide (Malathion)
  
Bacterial
Antibacterial Agents
Broad Spectrum  
Antibiotics  
Cephalosporin Derivatives
Therapeutics that treat a wide variety of infections by inhibiting bacterial cell wall synthesis.

Target Products:

  • Omnicef (Cefdinir)
  
Tetracyclines
Therapeutics that treat a wide variety of infections by inhibiting protein synthesis and also causing alterations in cytoplasmic membranes.

Target Products:

  • Dynacin (Minocycline Hydrochloride)
  
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
  
Mycological (Fungal)  
Antifungal Agents  
Narrow Spectrum  
Dermatology  
Tinea Corporis (Ringworm)  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the skin characterized by scaly, red rings by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Target Products:

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

Target Products:

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

Target Products:

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

Target Products:

  • Loprox (Ciclopirox)
  
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  
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)
  
Neurology  
Neuromuscular Disorders  
Multiple Sclerosis (MS)  
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)
  
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)
  
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)
  
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)
Asthma  
Acute Treatments  
Bronchodilators  
Beta Adrenergic Receptor Agonists
Therapeutics that cause dilation of the lung passages by supporting the actions of the adrenergic transmitters like epinephrine and norepinephrine.

Target Products:

  • Pediavent (Albuterol)
  
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)
  
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
  
Plastic/Reconstructive Surgery  
Treatment  
Wrinkle Removal  
Hyaluronic Acid  
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
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
Wyeth n/a 62,226.960 16.96 15.25 3.32 3.09 7.90
Bristol Myers Squibb Co. n/a 47,206.437 15.74 20.03 2.46 2.46 10.57
Schering-Plough Corp. n/a 27,219.124 148.76 34.04 2.86 2.72 3.99
Elan Corporation, plc (ADR) n/a 6,201.242 n/a -17.63 12.65 10.06 -9.56
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
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
Wyeth n/a 62,226.960 16.96 15.25 3.32 3.09 7.90
Bristol Myers Squibb Co. n/a 47,206.437 15.74 20.03 2.46 2.46 10.57
Schering-Plough Corp. n/a 27,219.124 148.76 34.04 2.86 2.72 3.99
Schering AG (ADR) n/a 19,731.499 26.52 24.44 3.09 n/a 6.39
Allergan, Inc. n/a 13,674.786 33.41 28.50 5.90 4.73 9.64
Altana AG (ADR) n/a 8,043.816 15.14 14.17 2.03 n/a 5.02
Elan Corporation, plc (ADR) n/a 6,201.242 n/a -17.63 12.65 10.06 -9.56
King Pharmaceuticals n/a 4,272.714 36.43 12.61 2.41 2.40 4.83
Mentor Corporation n/a 1,858.879 30.56 28.96 3.71 3.70 9.29
Valeant Pharmaceuticals International n/a 1,609.773 n/a 48.19 1.96 1.81 -9.12
First Horizon Pharmaceutical Corp. n/a 781.490 18.94 19.19 3.61 2.87 32.11
Taro Pharmaceutical Industries Ltd. n/a 403.171 23.26 24.68 1.33 1.31 1.05

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  sanofi-aventis (ADR) n/a 127,939.289 n/a 13.23 4.40 3.65 5.96
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
Active Power, Inc. n/a 254.037 n/a n/a 14.28 n/a 4.69
Insightful Corporation n/a 34.117 17.21 n/a 1.53 n/a 3.94
Genelabs Technologies n/a 20.973 n/a n/a 2.35 n/a 4.61
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a
Target
  sanofi-aventis (ADR) n/a 127,939.289 n/a 13.23 4.40 3.65 5.96
Par Pharmaceutical Companies, Inc n/a 942.915 n/a 20.10 2.18 1.53 2.82
Q-Med, Inc. n/a 140.048 36.05 43.74 6.32 3.36 5.59
DPT Laboratories, Ltd. n/a n/a n/a n/a n/a n/a n/a
Contract Pharmaceuticals Limited n/a n/a n/a n/a n/a n/a n/a
Patheon Inc. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  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
The American Red Cross n/a n/a n/a n/a n/a n/a n/a
Government of New Zealand n/a n/a n/a n/a n/a n/a n/a
United Nations n/a n/a n/a n/a n/a n/a n/a
Target
  McKesson Corporation 51.20% 15,734.928 19.63 21.87 0.18 0.18 3.98
Cardinal Health, Inc. 21.80% 29,536.578 25.68 22.44 0.38 0.36 8.05
AmerisourceBergen Corp. n/a 9,639.970 31.77 22.50 0.17 0.17 5.19
BioMarin Pharmaceutical n/a 1,027.138 n/a -19.16 40.02 19.09 -9.01
Quality King Distributors n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  sanofi-aventis (ADR) n/a 127,939.289 n/a 13.23 4.40 3.65 5.96
Abbott Laboratories n/a 63,852.982 19.09 16.40 2.86 2.90 14.33
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
GlaxoSmithKline plc (ADR) n/a 152,087.937 18.72 17.97 4.05 4.03 27.09
Roche Holding Ltd. (ADR) n/a 128,694.321 28.56 28.26 4.65 4.23 7.33
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
Target
  sanofi-aventis (ADR) n/a 127,939.289 n/a 13.23 4.40 3.65 5.96
Abbott Laboratories n/a 63,852.982 19.09 16.40 2.86 2.90 14.33
Cardinal Health, Inc. n/a 29,536.578 25.68 22.44 0.38 0.36 8.05
McKesson Corporation n/a 15,734.928 19.63 21.87 0.18 0.18 3.98
AmerisourceBergen Corp. n/a 9,639.970 31.77 22.50 0.17 0.17 5.19
BioMarin Pharmaceutical n/a 1,027.138 n/a -19.16 40.02 19.09 -9.01
Par Pharmaceutical Companies, Inc n/a 942.915 n/a 20.10 2.18 1.53 2.82
Taro Pharmaceutical Industries Ltd. n/a 403.171 23.26 24.68 1.33 1.31 1.05
Q-Med, Inc. n/a 140.048 36.05 43.74 6.32 3.36 5.59
Beaufour Ipsen Group n/a n/a n/a n/a n/a n/a n/a
DPT Laboratories, Ltd. n/a n/a n/a n/a n/a n/a n/a
Contract Pharmaceuticals Limited n/a n/a n/a n/a n/a n/a n/a
Dow Pharmaceutical Sciences, Inc. n/a n/a n/a n/a n/a n/a n/a
Patheon Inc. n/a n/a n/a n/a n/a n/a n/a
Quality King Distributors 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 1,888.3 359.7 2,248.0
Other Revenue 31.4 0.0 31.4
Total Revenue 1,919.7 359.7 2,279.4
Cost of Revenue 732.1 52.3 784.4
SG&A Expense 501.2 160.1 661.2
Depreciation & Amortization 66.2 24.5 90.8
Research & Development 433.9 41.6 475.5
Interest Expense 0.0 0.0 0.0
Other Operating Expense 20.5 0.0 20.5
Unusual Expense (Income) 15.7 0.0 15.7
Total Expenses 1,769.6 278.5 2,048.1
Operating Income 150.1 81.2 231.3
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -30.6 5.8 -24.8
Gain/Loss On Sale Of Assets -0.3 0.0 -0.3
Other, Net 83.7 59.8 143.5
Income Before Taxes 202.9 146.8 349.6
Income Taxes 22.4 53.3 75.7
Income After Taxes 180.5 93.5 274.0
Net Income - Excl. Xord. Items 180.5 93.5 274.0
Net Income - Incl. Xord. Items 180.5 93.5 274.0
Income Avail. to Common 180.5 93.5 274.0
Share Items
Basic Avg. Shares Outstanding 190.7 54.3 245.0
Basic EPS - Excl. Xord. Items 0.95 1.72 1.12
Basic EPS - Incl. Xord. Items 0.95 1.72 1.12
Full Dilution Adjustment 1.5 3.4 4.9
Fully Diluted Shares Outstanding 205.0 69.8 274.8
F.D. EPS - Excl. Xord. Items 0.90 1.44 1.00
F.D. EPS - Incl. Xord. Items 0.90 1.44 1.00
Dividends Per Common Share 0.00 0.12 0.12
Balance Sheet
Assets
Cash and Equivalents 291.4 447.0 738.4
ST Investments 400.4 295.5 695.9
Accounts Receivable 483.2 46.7 529.9
Inventory 231.7 19.1 250.7
Other Current Assets 185.1 25.0 210.1
Current Assets 1,591.9 833.3 2,425.1
PPE 1,517.9 0.0 1,517.9
Accum D&A -629.0 0.0 -629.0
PPE, Net 888.8 5.4 894.2
Goodwill & Intangibles 1,365.7 302.9 1,668.7
Long Term Investments 780.2 0.0 780.2
Note Receivable 7.1 0.0 7.1
Other Assets 0.0 0.0 0.0
Other LT Assets 113.8 4.3 118.1
Total Assets 4,747.5 1,146.0 5,893.4
Liabilities
Accounts Payable 117.9 57.7 175.6
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 93.9 0.0 93.9
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 49.6 0.0 49.6
Other (Current) Liabilities 303.4 83.1 386.5
Current Liab. 564.8 140.8 705.6
LT Debt 890.9 453.1 1,344.0
Capitalized Lease Obligations 156.7 0.0 156.7
Total LT Debt 1,047.6 453.1 1,500.7
Minority Interest (BS) 10.8 0.0 10.8
Deferred Taxes 0.0 8.6 8.6
Other LT Liab. 140.2 0.0 140.2
Total Liabilities 1,763.3 602.5 2,365.8
Shareholders Equity
Common Stock 2.0 0.9 2.9
Additional Paid in Capital 2,850.5 550.0 3,400.6
Retained Earnings 104.1 334.9 439.0
Treasure Stock -88.4 -342.7 -431.2
Other Equity 115.9 0.4 116.3
Total Equity 2,984.1 543.5 3,527.6
Total Liab. & Equity 4,747.5 1,146.0 5,893.4
Shares Outstanding 198.6 67.1 265.6
Cash Flow
Operating Cash Flow
CF Net Income 0.0 93.5 93.5
CF Depreciation 0.0 25.6 25.6
CF Deferred Taxes 0.0 10.3 10.3
Other Non-Cash Items 0.0 17.5 17.5
Change in Working Capital 192.0 85.6 277.6
Total Cash From Operating Activities 192.0 232.5 424.5
Investing Cash Flow
Capital Expenditures -151.5 -2.5 -154.0
Other Investing Cash Flows -293.5 190.5 -103.0
Total Cash From Investing Activities -445.0 188.0 -257.0
Financing Cash Flow
Dividends Paid 0.0 -6.6 -6.6
Purchase Or Sale of Stock 363.0 1.3 364.3
Purchase and Retirement of Debt 1.8 0.0 1.8
Other Financing Cash Flow 0.0 0.1 0.1
Total Cash From Financing Activities 363.8 -5.1 358.6
Exchange Rate Effects -18.1 0.1 -18.0
Net Change in Cash 92.7 415.5 508.1
Cash Taxes Paid 74.4 13.9 88.3
Cash Interest Paid 29.2 0.0 29.2