Summary

Other Scenarios:

Buyer: Serono S.A. (ADR) (SRA) Last Price: 17.52 Market Cap.: 10.71B
Target: ZymoGenetics, Inc. (ZGEN) Last Price: 19.61 Market Cap.: 1.31B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 864
Biopharmaceuticals 321
Medical Devices   243

- 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: 37)
  • Zorbtive (Somatropin)
  • r-IFNB-1a (Recombinant Human Interferon Beta-1a)
  • r-IL-18bp (Recombinant Interleukin 18 Binding Protein)
  • PTP 1b Inhibitor
Target (Total: 10)
  • rFactor XIII
  • FGF-18
  • IL-31
  • Interleukin 20 (IL-20)
Buyer
  • cool.click
  • SeroJet
  • Rebiject/Rebiject II
  • one.click
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 13)
  • Bioject Medical Technologies Inc. (BJCT)
  • Rigel Pharmaceuticals, Inc. (RIGL)
  • Vernalis plc (ADR) (VNLS)
  • ZymoGenetics, Inc. (ZGEN)
Target (Total: 3)
  • Alexandria Real Estate Equities, Inc. (ARE)
  • Patheon, Inc. (PTI:CA)
  • XOMA Limited (XOMA)
Buyer (Total: 7)
  • Roche Holding Ltd. (ADR) (RHHBY)
  • Amgen, Inc. (AMGN)
  • Abbott Laboratories (ABT)
  • Schering AG (ADR) (SHR)
Target (Total: 6)
  • Johnson & Johnson (JNJ)
  • Novo Nordisk A/S (ADR) (NVO)
  • Eisai Co., Ltd (ADR) (ESALY)
  • Serono S.A. (ADR) (SRA)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 4,826 468
Revenue Per Employee 580,616.8 68,843.9
Total Revenue 699.2 8.1
Total Expenses 496.2 39.7
Other Revenue 70.5 0.0
Cost of Revenue 73.9 31.4
SG&A Expense 233.7 8.3
Research & Development 130.3 0.0
Other Operating Expense 58.2 0.0
Operating Income 203.0 -31.6
Unusual Income 0.0 0.0
LT Debt to Capital 16.42 0
Fwd P/E 15.33 -9.62
Fwd P/Rev 3.86 39.92
Book Value 2,563.5 288.4
Curr Portion of LTD/Cap Lease 0.0 0.0

Key Ratios

  Buyer Target
Gross Margin % 89.74 -193.97
Operating Margin % 27.14 -267.48
Quick Ratio 2.09 13.58
Current Ratio 2.66 13.73
Coverage Ratio 0.07 -0.06
Total Assets 4,357.4 397.3
Return on Equity % 25.58 -33.66
Return on Assets % 15.05 -24.43
Cash+ ST Inv. Per Share 2.42 4.64
Total Debt 757.9 0.0
Total Debt to Equity % 29.56 0
Total Debt to Tangible Equity % 33.9 0
Debt to Asset % 17.39 0.00

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals > Neurology

Target

Sector Pure-Play (): *Healthcare > Biopharmaceuticals

Business Description

Buyer

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.

Target

ZymoGenetics, Inc. is engaged in the discovery, development, manufacture and commercialization of therapeutic proteins for the treatment of human diseases. The Company focuses in the areas of hemostasis, inflammatory and autoimmune diseases, cancer and viral infections. Its pipeline of products includes a replacement for plasma-derived protein products and several novel proteins, which it is developing on its own or in collaboration with partners. The Company's most advanced internal product candidate is recombinant human thrombin (rhThrombin), a topical hemostatic agent intended for the control of moderate bleeding during surgical procedures. It is a recombinant version of a blood-clotting protein that is marketed in the United States as a stand-alone product in a form derived from bovine (cow) plasma.

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals
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.
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
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.
  
Medical Devices  
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.
  

- 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  
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:

  • rFactor XIII
  
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.

Target Products:

  • FGF-18
  
Dermatology  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of skin disorders in very early stages of research where no human subject is involved.

Target Products:

  • IL-31
  • Interleukin 20 (IL-20)
  • IL-22/IL-22R
  
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.

Buyer 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.

Buyer 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.

Buyer Products:

  • r-IL-18bp (Recombinant Interleukin 18 Binding Protein)
  
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:

  • Interleukin-29 (IL-29)
  
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.

Buyer Products:

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

Buyer Products:

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

Buyer 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.

Buyer Products:

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

Buyer Products:

  • Crinone (Progesterone Gel)
  
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.

Buyer 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:

  • 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.

Buyer 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.

Buyer Products:

  • Atacicept/TACI-Ig
  • JNK Inhibitor
  • r-IL-18bp (Recombinant Interleukin 18 Binding Protein)
  • MMP-12 Inhibitor

Target Products:

  • Atacicept/TACI-Ig
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.

Buyer Products:

  • HuMax-TAC
  • Interferon Beta:Fc
  • NI-0401/NI-0501

Target Products:

  • Interleukin 20 (IL-20)
  • IL-31
  • IL-22/IL-22R
  • Atacicept/TACI-Ig
Infectious Diseases
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.

Target Products:

  • Interleukin-29 (IL-29)
  
Viral  
RNA Viruses  
Flavivirus  
Hepatitis C  
Chronic  
Interferons
Therapeutics that treat hepatitis by providing a naturally occurring protein that stimulates the immune system.

Buyer Products:

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

Buyer Products:

  • Atacicept/TACI-Ig
  • r-IL-18bp (Recombinant Interleukin 18 Binding Protein)

Target Products:

  • Platelet-Derived Growth Factor
  • Atacicept/TACI-Ig
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of skeletal system disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • FGF-18

Target Products:

  • FGF-18
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.

Buyer 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:

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

Buyer 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.

Buyer Products:

  • MMP-12 Inhibitor
  • JNK Inhibitor
  
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.

Buyer Products:

  • Osteopontin
  
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.

Buyer Products:

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

Buyer 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.

Buyer Products:

  • Gonal-F (Follitropin Alfa)
  • Gonal-F Pen (Fllitropin Alfa Injection)
  • Serophene (Clomiphene Citrate)
  
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.

Buyer 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.

Buyer Products:

  • Oxytocin Receptor Antagonist
  • Anastrozole
  • Hyperglycosylated r-FSH
  
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.

Buyer Products:

  • Prostanoid FP Receptor Antagonist
  
Oncology
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.

Buyer 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:

  • MT201 (Adecatumumab)
  • Atacicept/TACI-Ig
  • HuMax-CD4 (Zanolimumab)

Target Products:

  • Interleukin 21 (IL-21)
  • Atacicept/TACI-Ig
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.

Buyer Products:

  • IKK2 Inhibitor
  • R763 (Aurora Kinase Inhibitor)

Target Products:

  • rFactor XIII
Surgery  
General  
Complications  
Hemorrhage  
Clotting Agents
Therapeutics used prior to surgery to help prevent excessive bleeding from occurring during the surgery.

Target Products:

  • rhThrombin
  
Hemorrhage  
Coagulating Agents (Coagulants)
Therapeutics that treat bleeding during a surgical procedure by promoting blood clotting.

Target Products:

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

Buyer 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.

Buyer 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.

Buyer Products:

  • PTP 1b Inhibitor
  
Medical Devices  
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

Buyer Products:

  • cool.click
  • SeroJet
  • Rebiject/Rebiject II
  • one.click
  

- 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
  Genentech, Inc. n/a 87,068.934 52.75 44.13 11.12 9.71 13.52
Eli Lilly & Co. n/a 63,302.345 20.08 17.81 4.20 4.08 5.31
Buyer
  Pfizer Inc. n/a 203,868.963 18.80 13.78 4.31 4.22 9.57
Roche Holding Ltd. (ADR) n/a 157,935.206 35.04 24.51 5.71 5.21 8.49
Novartis AG (ADR) n/a 134,571.246 23.73 18.67 3.85 3.66 3.62
Genentech, Inc. n/a 87,068.934 52.75 44.13 11.12 9.71 13.52
Wyeth n/a 65,991.070 17.43 15.56 3.39 3.26 6.98
Eli Lilly & Co. n/a 63,302.345 20.08 17.81 4.20 4.08 5.31
Novo Nordisk A/S (ADR) n/a 27,928.834 27.46 21.89 4.39 n/a 5.72
Teva Pharmaceutical Industries Ltd (ADR) n/a 26,613.463 514.75 15.73 4.05 3.11 -864.07
Schering AG (ADR) n/a 22,186.224 29.31 28.04 3.15 n/a 6.37
Akzo Nobel N.V. (ADR) n/a 16,769.196 11.99 16.00 0.97 1.03 4.27
Biogen Idec Inc n/a 15,204.017 434.51 22.21 6.08 5.21 5.07
Solvay SA (ADR) n/a 9,790.273 11.14 n/a 0.87 n/a 3.87
Target
  Genentech, Inc. n/a 87,068.934 52.75 44.13 11.12 9.71 13.52
Amgen, Inc. n/a 80,055.353 28.53 18.54 6.04 5.62 48.11
Eli Lilly & Co. n/a 63,302.345 20.08 17.81 4.20 4.08 5.31
Schering-Plough Corporation n/a 31,048.528 42.24 28.31 3.11 3.03 4.18
Human Genome Sciences n/a 1,474.409 n/a -6.81 60.87 43.78 4.87
Medarex, Inc. n/a 1,301.230 n/a -7.31 23.23 26.92 3.53
Maxygen, Inc. n/a 294.689 n/a -10.20 13.85 11.82 1.68
Omrix Biopharmaceuticals, Inc. n/a 255.293 30.70 14.33 5.88 4.36 6.93
CuraGen Corporation n/a 175.165 n/a -2.56 4.78 4.24 9.05
Compugen Ltd. (USA) n/a 75.464 n/a n/a 32.98 n/a 2.36
ChemGenex Pharmaceuticals Limited (ADR) n/a 63.598 n/a n/a 20.85 n/a 21.28

- 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
  XOMA Limited n/a 163.650 n/a -3.95 6.92 4.72 -5.94
Buyer
  Bioject Medical Technologies Inc. 32.00% 13.208 n/a n/a 1.36 n/a 2.17
Rigel Pharmaceuticals, Inc. 14.90% 249.384 n/a -5.64 7.44 7.70 2.37
Vernalis plc (ADR) 4.00% 241.072 n/a n/a 8.97 n/a -20.00
ZymoGenetics, Inc. n/a 1,314.656 n/a -9.62 34.24 39.92 4.56
Regeneron Pharmaceuticals, Inc. n/a 901.290 n/a -7.82 12.68 13.90 10.76
Ness Technologies, Inc n/a 422.181 16.84 14.27 0.99 0.87 4.50
Phase Forward Incorporated n/a 410.906 102.47 43.67 4.36 3.98 8.74
Caliper Life Sciences Inc. n/a 182.985 n/a -9.00 1.93 1.59 4.47
XOMA Limited n/a 163.650 n/a -3.95 6.92 4.72 -5.94
Columbia Laboratories Inc. n/a 151.982 n/a n/a 7.07 n/a 15.67
Micromet Inc. n/a 81.357 n/a -2.03 2.21 11.40 57.25
Axonyx Inc. n/a 54.754 n/a n/a n/a n/a 1.07
Owen Mumford Ltd. n/a n/a n/a n/a n/a n/a n/a
Target
  Alexandria Real Estate Equities, Inc. n/a 2,577.071 51.54 19.00 9.58 n/a 2.27
Patheon, Inc. n/a 476.298 143.69 n/a 0.67 n/a 1.82
XOMA Limited n/a 163.650 n/a -3.95 6.92 4.72 -5.94

- 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
  Roche Holding Ltd. (ADR) n/a 157,935.206 35.04 24.51 5.71 5.21 8.49
Amgen, Inc. n/a 80,055.353 28.53 18.54 6.04 5.62 48.11
Abbott Laboratories n/a 73,900.024 23.58 19.40 3.34 3.33 44.38
Schering AG (ADR) n/a 22,186.224 29.31 28.04 3.15 n/a 6.37
Akzo Nobel N.V. (ADR) n/a 16,769.196 11.99 16.00 0.97 1.03 4.27
Biogen Idec Inc n/a 15,204.017 434.51 22.21 6.08 5.21 5.07
Columbia University n/a n/a n/a n/a n/a n/a n/a
Target
  Johnson & Johnson n/a 189,307.421 17.32 17.52 3.69 3.57 6.89
Novo Nordisk A/S (ADR) n/a 27,928.834 27.46 21.89 4.39 n/a 5.72
Eisai Co., Ltd (ADR) n/a 13,621.940 38.45 21.70 3.84 n/a 3.33
Serono S.A. (ADR) n/a 10,710.474 16.33 15.33 4.00 3.86 4.79
BioMimetic Pharmaceuticals n/a n/a n/a n/a n/a n/a n/a
Government - Thailand 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
  Amgen, Inc. n/a 80,055.353 28.53 18.54 6.04 5.62 48.11
Abbott Laboratories n/a 73,900.024 23.58 19.40 3.34 3.33 44.38
Regeneron Pharmaceuticals, Inc. n/a 901.290 n/a -7.82 12.68 13.90 10.76
Buyer
  Pfizer Inc. n/a 203,868.963 18.80 13.78 4.31 4.22 9.57
Roche Holding Ltd. (ADR) n/a 157,935.206 35.04 24.51 5.71 5.21 8.49
AstraZeneca PLC (ADR) n/a 102,594.241 18.75 17.28 4.12 4.02 9.96
Genentech, Inc. n/a 87,068.934 52.75 44.13 11.12 9.71 13.52
Amgen, Inc. n/a 80,055.353 28.53 18.54 6.04 5.62 48.11
Target
  Johnson & Johnson n/a 189,307.421 17.32 17.52 3.69 3.57 6.89
Amgen, Inc. n/a 80,055.353 28.53 18.54 6.04 5.62 48.11
Abbott Laboratories n/a 73,900.024 23.58 19.40 3.34 3.33 44.38
Novo Nordisk A/S (ADR) n/a 27,928.834 27.46 21.89 4.39 n/a 5.72
Eisai Co., Ltd (ADR) n/a 13,621.940 38.45 21.70 3.84 n/a 3.33
Serono S.A. (ADR) n/a 10,710.474 16.33 15.33 4.00 3.86 4.79
Regeneron Pharmaceuticals, Inc. n/a 901.290 n/a -7.82 12.68 13.90 10.76
Patheon, Inc. n/a 476.298 143.69 n/a 0.67 n/a 1.82
XOMA Limited n/a 163.650 n/a -3.95 6.92 4.72 -5.94
BioMimetic Therapeutics, Inc. n/a 105.100 n/a -4.23 30.37 0.03 n/a
Avecia Ltd. n/a n/a n/a n/a n/a n/a n/a
University Of Washington n/a n/a n/a n/a n/a n/a n/a
BioMimetic Pharmaceuticals n/a n/a n/a n/a n/a n/a n/a
Daiichi Sankyo Company, Limited n/a n/a n/a n/a n/a n/a n/a
Government - Thailand n/a n/a n/a n/a n/a n/a n/a
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a
St. Jude Children's Research Hospital 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 2,399.5 38.4 2,437.9
Other Revenue 275.4 0.0 275.4
Total Revenue 2,674.9 38.4 2,713.3
Cost of Revenue 274.5 112.9 387.4
SG&A Expense 870.4 28.2 898.6
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 544.8 0.0 544.8
Interest Expense 0.0 0.0 0.0
Other Operating Expense 259.2 0.0 259.2
Total Expenses 1,948.8 141.1 2,090.0
Operating Income 726.0 -102.7 623.3
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 50.2 5.7 55.9
Other, Net -7.4 -0.0 -7.4
Income Before Taxes 768.8 -97.1 671.7
Income Taxes 112.9 0.0 112.9
Income After Taxes 655.9 -97.1 558.8
Minority Interest (IS) -0.2 0.0 -0.2
Net Income - Excl. Xord. Items 655.7 -97.1 558.6
Net Income - Incl. Xord. Items 655.7 -97.1 558.6
Income Avail. to Common 655.7 -97.1 558.6
Share Items
Basic Avg. Shares Outstanding 585.8 66.8 652.7
Basic EPS - Excl. Xord. Items 1.12 n/a 0.86
Basic EPS - Incl. Xord. Items 1.12 n/a 0.86
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 585.8 66.8 652.7
F.D. EPS - Excl. Xord. Items 1.12 n/a 0.86
F.D. EPS - Incl. Xord. Items 1.12 n/a 0.86
Balance Sheet
Assets
Cash and Equivalents 1,022.9 36.3 1,059.2
ST Investments 393.2 273.9 667.2
Accounts Receivable 462.3 5.2 467.5
Inventory 259.2 0.0 259.2
Prepayments and Advances 0.0 3.6 3.6
Other Current Assets 249.9 0.0 249.9
Current Assets 2,387.5 319.1 2,706.6
Accum D&A 0.0 0.0 0.0
PPE, Net 795.7 71.8 867.5
Goodwill & Intangibles 327.7 0.0 327.7
Long Term Investments 535.5 0.0 535.5
Other Assets 0.0 0.0 0.0
Other LT Assets 311.0 6.4 317.4
Total Assets 4,357.4 397.3 4,754.7
Liabilities
Accounts Payable 326.6 3.5 330.1
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 0.0 11.2 11.2
ST Debt 254.4 0.0 254.4
Other (Current) Liabilities 316.1 8.5 324.7
Current Liab. 897.1 23.2 920.3
LT Debt 503.5 0.0 503.5
Total LT Debt 503.5 0.0 503.5
Minority Interest (BS) 0.9 0.0 0.9
Deferred Taxes 19.1 0.0 19.1
Other LT Liab. 373.4 85.7 459.1
Total Liabilities 1,793.9 109.0 1,902.9
Shareholders Equity
Common Stock 236.4 719.7 956.1
Additional Paid in Capital 526.2 0.0 526.2
Retained Earnings 2,140.2 -429.4 1,710.7
Treasure Stock -370.0 0.0 -370.0
Other Equity 30.7 -1.9 28.9
Total Equity 2,563.5 288.4 2,851.8
Total Liab. & Equity 4,357.4 397.3 4,754.7
Shares Outstanding 611.3 67.0 678.4
Cash Flow
Operating Cash Flow
CF Net Income 735.9 -97.1 638.9
CF Depreciation 132.8 6.5 139.3
CF Deferred Taxes 0.0 0.0 0.0
Other Non-Cash Items -684.8 10.4 -674.4
Change in Working Capital -132.2 -13.1 -145.3
Total Cash From Operating Activities 51.7 -93.3 -41.5
Investing Cash Flow (not calculated)
Capital Expenditures -35.6 -6.4 -42.0
Other Investing Cash Flows 256.9 -53.9 203.1
Total Cash From Investing Activities 221.3 -60.2 161.1
Financing Cash Flow (not calculated)
Dividends Paid -117.1 0.0 -117.1
Purchase Or Sale of Stock 37.2 136.1 173.3
Purchase and Retirement of Debt 90.5 0.0 90.5
Other Financing Cash Flow -5.3 0.0 -5.3
Total Cash From Financing Activities 0.6 136.1 136.7
Exchange Rate Effects 1.5 0.0 1.5
Net Change in Cash 275.2 -17.4 257.7
Cash Taxes Paid 95.6 0.0 95.6
Cash Interest Paid 4.9 3.8 8.7