Summary

Other Scenarios:

Buyer: Forest Laboratories, Inc. (FRX) Last Price: 38.20 Market Cap.: 11.89B
Target: Pharmion Corporation (PHRM) Last Price: 72.32 Market Cap.: 2.71B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 918
Biopharmaceuticals 375
Medical Devices   254

- 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: 36)
  • Inwood Laboratories Diltiazem Hydrochloride
  • Tiazac (Diltiazem Hydrochloride)
  • Bystolic (Nebivolol)
  • Benicar (Olmesartan Medoxomil)
Target (Total: 5)
  • Innohep (Tinzaparin Sodium)
  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Oral Azacitidine
  • Vidaza (Azacitidine)
Buyer
  • AeroChamber Series
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 12)
  • Mylan Inc. (MYL)
  • Mack-Cali Realty Corp. (CLI)
  • Biovail Corporation (USA) (BVF)
  • Cypress Bioscience, Inc. (CYPB)
Target (Total: 6)
  • GPC Biotech AG (ADR) (GPCB)
  • Celgene Corporation (CELG)
  • salesforce.com, inc. (CRM)
  • MethylGene Inc. (MYG:CA)
Buyer (Total: 4)
  • McKesson Corporation (MCK)
  • Cardinal Health, Inc. (CAH)
  • AmerisourceBergen Corp. (ABC)
  • Samaritan Pharmaceuticals, Inc. (SPHC)
Target (Total: 4)
  • US Oncology, Inc.
  • Cardinal Health, Inc. (CAH)
  • McKesson Corporation (MCK)
  • Government - United Kingdom

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 5,126 513
Revenue Per Employee 781,103.8 558,770.6
Total Revenue 998.2 71.5
Total Expenses 607.4 102.6
Other Revenue 27.4 0.0
Cost of Revenue 213.5 19.7
SG&A Expense 285.7 50.0
Research & Development 108.2 30.4
Other Operating Expense 0.0 0.0
Operating Income 390.8 -31.2
Unusual Income 0.0 0.0
LT Debt to Capital 0 0
Fwd P/E 12.00 -395.28
Fwd P/Rev 3.25 7.21
Book Value 3,524.5 358.9
Curr Portion of LTD/Cap Lease 0.0 0.0

Individual Company Summary

Focused

Buyer

Focused (): Healthcare > Biopharmaceuticals > Neurology

Target

Focused (): Healthcare > Biopharmaceuticals > Oncology

Business Description

Buyer

Forest Laboratories, Inc. and its subsidiaries develop, manufacture and sell both branded and generic forms of ethical drug products, which require a physician's prescription, as well as non-prescription pharmaceutical products sold over the counter. The Company's products in the United States consist of branded ethical drug specialties marketed directly or detailed to physicians by its sales forces, Forest Pharmaceuticals, Forest Therapeutics, Forest Healthcare, Forest Ethicare and Forest Specialty Sales. Forest Laboratories, Inc.'s products include Lexapro, Namenda, Benicar and Campral. In January 2007, it acquired of Cerexa, Inc., a biopharmaceutical company based in Alameda, California. In May 2007, Forest Laboratories, Inc. and Cypress Bioscience, Inc. announced that preliminary results from a 1,196 patient randomized, three month, double-blind, placebo-controlled pivotal Phase III study demonstrate therapeutic effects of milnacipran as a treatment of fibromyalgia syndrome.

Target

Pharmion Corporation is a global pharmaceutical company that acquires, develops and commercializes products for the treatment of hematology and oncology patients. The Company has established a portfolio of approved products and product candidates focused on the hematology and oncology markets. These include Pharmion?s primary commercial products, Vidaza (azacitidine for injection), which it markets and sells as an approved treatment for myelodysplastic syndromes in the United States, Switzerland, Israel and the Philippines. and Thalidomide Pharmion 50 milligram (Thalidomide Pharmion), a therapy for the treatment of multiple myeloma and certain other forms of cancer, which it sells on a compassionate use or named patient basis in certain countries of Europe. Thalidomide Pharmion is approved in Australia, New Zealand, Turkey, Israel, South Korea and Thailand for the treatment of multiple myeloma. In January 2008, Celgene Corporation has cleared its pending acquisition of Pharmion.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 79.12 72.66
Operating Margin % 22.46 -25.91
Quick Ratio 3.82 3.64
Current Ratio 5.07 4
Coverage Ratio 0 -0.15
Total Assets 4,282.0 443.3
Return on Equity % 15.81 -17.79
Return on Assets % 13.01 -14.4
Cash+ ST Inv. Per Share 5.61 6.67
Total Debt 0.0 0.0
Total Debt to Equity % 0 0
Total Debt to Tangible Equity % 0 0
Debt to Asset % 0.00 0.00

Product Summary

Sector Buyer Target
Healthcare
Biopharmaceuticals
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
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.
  
Hematology
The Hematology Subsector includes therapeutics that treat blood-based diseases and disorders.
  
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.
  
Pain Management
The Pain Management Subsector includes therapeutics that treat and management pain.
  
Respiratory System
The Respiratory System Subsector includes therapeutics that treat disorders affecting both the upper and lower respiratory tract, including the nose, throat, larynx, trachea, bronchi, and lungs.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Toxicology
The Toxicology Subsector includes therapeutics that treat harmful effects from exposure to toxic substances; narcotics, nicotine and alcohol withdrawal therapeutics are also included in this sector.
  
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
Heart Disorders  
Angina  
Calcium Channel Blocking Agents
Therapeutics that treat chest pains by preventing the entry of calcium into heart muscle cells.

Buyer Products:

  • Inwood Laboratories Diltiazem Hydrochloride
  • Tiazac (Diltiazem Hydrochloride)
  
Heart Failure (HF)  
Beta Adrenergic Receptor Blocking Agents (Beta Blockers)
Therapeutics that treat the ineffective pumping of the heart by blocking beta adrenergic receptors of the heart muscle.

Buyer Products:

  • Bystolic (Nebivolol)
  
Vascular Disorders
Deep Vein Thrombosis (DVT)  
Anticoagulating Agents (Anticoagulants)  
Thrombin Inhibitors
Therapeutics that prevent or treat clots in blood vessels by preventing blood clots from forming.

Target Products:

  • Innohep (Tinzaparin Sodium)
  
Hypertension  
Angiotensin II Receptor Antagonists
Therapeutics that treat high blood pressure by blocking the angiotensin II receptor.

Buyer Products:

  • Benicar (Olmesartan Medoxomil)
  
Angiotensin II Receptor Antagonists/Calcium Channel Blocking Agents
Therapeutics that treat high blood pressure by blocking the angiotensin II receptor and by preventing the entry of calcium into heart muscle cells.

Buyer Products:

  • AZOR (Olmesartan Medoxomil/Amlodipine Besylate)
  
Angiotensin II Receptor Antagonists/Thiazide Diuretic Agents
Therapeutics that treat high blood pressure by blocking the angiotensin II receptor and increasing the excretion of sodium ions, potassium ions, and water through urine.

Buyer Products:

  • Benicar HCT (Olmesartan Medoxomil/Hydrochlorothiazide)
  
Beta Adrenergic Receptor Blocking Agents (Beta Blockers)
Therapeutics that treat high blood pressure by blocking the beta adrenergic receptors of the heart muscle.

Buyer Products:

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

Buyer Products:

  • Tiazac (Diltiazem Hydrochloride)
  • Inwood Laboratories Diltiazem Hydrochloride
  
Stroke  
Anticoagulating Agents (Anticoagulants)  
Defibrinogenating Agents
Therapeutics that prevent or treat damage to nerve cells of the brain by reducing plasma fibrinogen and blood viscosity, which lead to an increase in cerebral blood flow.

Buyer Products:

  • Desmoteplase
  
Thromboembolism  
Anticoagulating Agents (Anticoagulants)  
Thrombin Inhibitors
Therapeutics that treat the obstruction of a blood vessel by preventing blood clots from forming.

Target Products:

  • Innohep (Tinzaparin Sodium)
  
Digestive System  
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:

  • linaclotide
  
Endocrinology/Metabolism  
Thyroid Gland Disorders  
Hypothyroidism  
Thyroid Hormones
Therapeutics that treat a deficiency in thyroid activity by supplementing thyroid hormones.

Buyer Products:

  • Armour Thyroid (Thyroid Tablets)
  • Thyrolar (Liotrix)
  • Levothroid (Levothyroxin Sodium)
  
Hematology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of hematological disorders in early stages of clinical research where human subject is involved.

Target Products:

  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Oral Azacitidine
  
White Blood Cell (WBC) Disorders  
Myelodysplastic Syndromes (MDS)  
Antimetabolite Agents  
Pyrimidine Analogs
Therapeutics that treat and manage rmyelodysplastic syndrome by interfering with the production of DNA.

Target Products:

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

Buyer Products:

  • Ceftaroline (Cephalosporin Antibiotic)
  
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:

  • Ceftaroline (Cephalosporin Antibiotic)
  
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:

  • Ceftaroline (Cephalosporin Antibiotic)/NXL 104 (Beta Lactamase Inhibitor)
  • Cerexa ME1036 (Broad Spectrum Carbapenem)
  
Viral  
RNA Viruses  
Orthomyxovirus  
Influenza A  
Viral Uncoating Inhibitors
Therapeutics that treat viral infections of the respiratory tract caused by Influenza A virus by preventing the removal of the protective shield around the viral genome, thus preventing the release of viral DNA into the host.

Buyer Products:

  • Flumadine (Rimantadine Hydrochloride)
  
Musculoskeletal System  
Skeletal Disorders  
Joint Disorders  
Fibromyalgia Syndrome (FMS)  
Serotonin/Norepinephrine Reuptake Inhibitors
Therapeutics that treat Fibromyalgia Syndrome by preventing reuptake of serotonin and norepinephrine.

Buyer Products:

  • Milnacipran
  
Neurology  
Neurological Disorders  
Alzheimer`s Disease  
N-Methyl-D-Aspartate (NMDA) Receptor Antagonists
Therapeutics that treat the disorders involving the progressive degeneration and death of brain cells by preventing the actions of an amino acid neurotransmitter, N-Methyl-D-Aspartate.

Buyer Products:

  • Namenda (Memantine)
  • Neramexane
  • Namenda Extended Release Once-Daily Formulation (Memantine)
  
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:

  • RGH-188 (Dopamine Receptor Agonist)
  
Psychiatric Disorders  
Anxiety  
Generalized Anxiety Disorder (GAD)  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat anxiety by selectively preventing the removal of serotonin.

Buyer Products:

  • Lexapro (Escitalopram Oxalate)
  
Panic Disorder  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat panic disorder by selectively preventing the removal of serotonin.

Buyer Products:

  • Lexapro (Escitalopram Oxalate)
  
Social Anxiety Disorder (SAD)  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat Social Anxiety Disorder by selectively preventing the removal of serotonin.

Buyer Products:

  • Lexapro (Escitalopram Oxalate)
  
Mood Disorders  
Depression  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat depression by selectively preventing the removal of serotonin.

Buyer Products:

  • Celexa (Citalopram Hydrobromide)
  • Inwood Laboratories Citalopram Hydrobromide
  • Lexapro (Escitalopram Oxalate)
  
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:

  • mGLUR1/5 Compounds
  
Obstetrics/Gynecology  
Child Birth/Pregnancy  
Induction/Cervical Ripening  
Prostaglandins
Therapeutics that induce contractions by acting directly on the myometrium thus stimulating myometrial contractions in the uterus.

Buyer Products:

  • Cervidil Vaginal Insert (Dinoprostone)
  
Oncology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer in early stages of clinical research where human subject is involved.

Target Products:

  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Vidaza (Azacitidine)
  • Oral Azacitidine
  
Respiratory System/Thoracic  
Lung Cancer  
Small Cell Lung Cancer (SCLC)  
Topoisomerase II Inhibitors
Therapeutics that treat and manage cancers of the small cells in the lung by inhibiting a specific enzyme, topoisomerase II, needed for transcription and replication of DNA.

Target Products:

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

Buyer Products:

  • Combunox (Oxycodone/Ibuprofen)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of pain in early stages of clinical research where human subject is involved.

Buyer Products:

  • RGH-896 (Selective NR2B Antagonist)
  
Respiratory System  
Lower Respiratory Tract Disorders (Lung Disorders)  
Asthma  
Prophylactic Treatments  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat asthma by reducing inflammation in the lung passages with steroids.

Buyer Products:

  • Aerospan HFA (Flunisolide Hydrofluoroalkane)
  • Aerobid (Flunisolide)
  
Chronic Obstructive Pulmonary Disease (COPD)  
Prophylactic Treatments  
Anticholinergic Agents
Therapeutics that block the actions of choline and other cholinergic agents.

Buyer Products:

  • LAS34273
  
Respiratory Distress Syndrome (RDS)  
Surfactants
Therapeutics that treat RDS by modifying alveolar surface tension and thereby stabilizing the alveoli.

Buyer Products:

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

Buyer Products:

  • GRC 3886 (PDE-4 Inhibitor)
  
Upper Respiratory Tract Disorders  
Coughs/Colds  
Antitussives
Therapeutics that relieve or prevent coughs.

Buyer Products:

  • Tessalon (Benzonatate)
  • Inwood Laboratories Benzonatate
  
Surgery  
Musculoskeletal System  
Deep Vein Thrombosis (DVT)  
Anticoagulating Agents (Anticoagulants)  
Thrombin Inhibitors
Therapeutics that treat vascular obstructions due to platelets and cell matter by blocking an enzyme involved in the clotting process.

Target Products:

  • Innohep (Tinzaparin Sodium)
  
Toxicology  
Substance Abuse  
Withdrawal  
Alcohol  
Gamma-Aminobutyric Acid (GABA) Receptor Agonists
Therapeutics that treat alcohol withdrawal by increasing the effect of GABA at the relevant neuroreceptors.

Buyer Products:

  • Campral (Acamprosate)
  
Medical Devices  
Drug Delivery  
Pulmonary Delivery  
Aerosol Therapy  
Vapor Therapy  
Accessories
Auxiliary medical devices designed to assist in the pulmonary delivery of metered dose of medication

Buyer Products:

  • AeroChamber Series
  

- 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
  GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
Buyer
  GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
Shire plc (ADR) n/a 11,013.064 0.00 19.66 4.52 3.82 n/a
Cephalon, Inc. n/a 4,072.540 0.00 13.67 2.30 2.16 527.26
Biovail Corporation (USA) n/a 2,193.143 6.35 7.83 2.32 2.69 3.51
Valeant Pharmaceuticals International n/a 1,184.671 0.00 19.86 1.36 1.33 n/a
Alkermes, Inc. n/a 1,126.930 5.97 82.67 4.63 5.11 2.93
Sciele Pharma Inc. n/a 671.385 14.79 9.33 1.76 1.53 77.78
DURECT Corporation n/a 350.289 0.00 -14.88 11.42 11.63 12.51
Pain Therapeutics, Inc. n/a 346.929 17.09 15.67 5.26 4.39 3.34
Jazz Pharmaceuticals, Inc. n/a 269.074 0.00 -2.18 4.12 2.55 n/a
Neurocrine Biosciences, Inc. n/a 192.135 0.00 -2.40 156.82 14.78 1.62
Discovery Laboratories, Inc. n/a 171.449 0.00 -3.38 n/a 67.75 4.42
Targacept , Inc. n/a 162.964 0.00 -5.30 14.08 9.32 3.16
Target
  Pfizer Inc. n/a 144,347.120 17.73 9.11 2.98 3.03 6.24
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
sanofi-aventis (ADR) n/a 98,531.811 16.69 9.14 2.25 2.40 n/a
Genentech, Inc. n/a 83,607.511 30.19 25.16 7.13 6.43 9.13
Eli Lilly & Co. n/a 56,508.154 19.14 12.64 3.03 2.79 5.04
Celgene Corporation n/a 22,917.366 101.21 38.96 16.30 11.48 8.45
Eisai Co., Ltd (ADR) n/a 9,661.528 13.56 13.89 1.46 1.40 2.29
Millennium Pharmaceuticals, Inc. n/a 4,249.041 284.76 58.61 8.05 7.65 5.90
SuperGen, Inc. n/a 135.648 10.37 -12.63 5.91 3.71 1.48
Poniard Pharmaceuticals, Inc. n/a 132.393 0.00 -3.07 n/a 12.14 1.53
Vion Pharmaceuticals, Inc. n/a 25.897 0.00 -0.71 1,194.74 n/a 3.14

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Mylan Inc. n/a 3,226.346 0.00 19.54 1.21 0.68 n/a
Mack-Cali Realty Corp. n/a 2,281.197 21.03 9.73 2.82 3.01 1.39
Biovail Corporation (USA) n/a 2,193.143 6.35 7.83 2.32 2.69 3.51
Cypress Bioscience, Inc. n/a 283.513 0.00 27.48 32.11 12.10 1.73
PHC, Inc. n/a 56.498 23.33 18.33 1.12 1.04 4.05
Pharsight Corporation n/a 44.598 0.00 29.56 1.59 1.58 5.07
H. Lundbeck A/S n/a 0.000 0.00 n/a 0.00 n/a n/a
Gedeon Richter Limited n/a n/a n/a n/a n/a n/a n/a
Almirall Prodesfarma, S.A. n/a n/a n/a n/a n/a n/a n/a
PAION GmbH n/a n/a n/a n/a n/a n/a n/a
Merck KGaA n/a n/a n/a n/a n/a n/a n/a
Merz + Co. n/a n/a n/a n/a n/a n/a n/a
Target
  GPC Biotech AG (ADR) 66.00% 123.561 0.00 -1.04 3.95 3.84 1.63
Celgene Corporation n/a 22,917.366 101.21 38.96 16.30 11.48 8.45
salesforce.com, inc. n/a 6,759.538 368.29 174.97 9.03 6.62 16.14
MethylGene Inc. n/a 87.304 0.00 n/a 6.00 n/a 1.75
Ben Venue Laboratories, Inc. n/a n/a n/a n/a n/a n/a n/a
Ash Stevens, 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
Overlap
  McKesson Corporation 37.00% 16,575.105 17.63 17.42 0.17 0.16 5.60
Cardinal Health, Inc. 27.00% 19,851.610 12.83 14.65 0.22 0.21 15.33
Buyer
  McKesson Corporation 37.00% 16,575.105 17.63 17.42 0.17 0.16 5.60
Cardinal Health, Inc. 27.00% 19,851.610 12.83 14.65 0.22 0.21 15.33
AmerisourceBergen Corp. 13.00% 6,687.985 14.64 14.03 0.10 0.10 n/a
Samaritan Pharmaceuticals, Inc. n/a 8.590 0.00 n/a 2.75 n/a 5.71
Target
  US Oncology, Inc. 19.00% n/a n/a n/a n/a n/a n/a
Cardinal Health, Inc. 11.00% 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation 9.00% 16,575.105 17.63 17.42 0.17 0.16 5.60
Government - United Kingdom 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
Buyer
  Mylan Inc. n/a 3,226.346 0.00 19.54 1.21 0.68 n/a
Biovail Corporation (USA) n/a 2,193.143 6.35 7.83 2.32 2.69 3.51
Cypress Bioscience, Inc. n/a 283.513 0.00 27.48 32.11 12.10 1.73
Samaritan Pharmaceuticals, Inc. n/a 8.590 0.00 n/a 2.75 n/a 5.71
H. Lundbeck A/S n/a 0.000 0.00 n/a 0.00 n/a n/a
Daiichi Sankyo Company, Limited n/a 0.000 0.00 n/a 0.00 n/a n/a
Novexel, S.A. n/a n/a n/a n/a n/a n/a n/a
Microbia n/a n/a n/a n/a n/a n/a n/a
Glenmark Pharmaceuticals Ltd. n/a n/a n/a n/a n/a n/a n/a
Gedeon Richter Limited n/a n/a n/a n/a n/a n/a n/a
Almirall Prodesfarma, S.A. n/a n/a n/a n/a n/a n/a n/a
Merz + Co. n/a n/a n/a n/a n/a n/a n/a
Merck KGaA n/a n/a n/a n/a n/a n/a n/a
Target
  Pfizer Inc. n/a 144,347.120 17.73 9.11 2.98 3.03 6.24
Celgene Corporation n/a 22,917.366 101.21 38.96 16.30 11.48 8.45
Cardinal Health, Inc. n/a 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation n/a 16,575.105 17.63 17.42 0.17 0.16 5.60
GPC Biotech AG (ADR) n/a 123.561 0.00 -1.04 3.95 3.84 1.63
MethylGene Inc. n/a 87.304 0.00 n/a 6.00 n/a 1.75
US Oncology, Inc. n/a n/a n/a n/a n/a n/a n/a
LEO Pharma A/S n/a n/a n/a n/a n/a n/a n/a
Ash Stevens, Inc. n/a n/a n/a n/a n/a n/a n/a
Dainippon Sumitomo Pharma Co., Ltd. n/a n/a n/a n/a n/a n/a n/a
Ben Venue Laboratories, Inc. n/a n/a n/a n/a n/a n/a n/a
Nippon Shinyaku Co., Ltd. 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 3,621.4 267.3 3,888.7
Other Revenue 109.5 0.0 109.5
Total Revenue 3,730.9 267.3 3,998.2
Cost of Revenue 779.0 73.1 852.1
SG&A Expense 1,101.7 143.2 1,244.9
Depreciation & Amortization 0.0 9.9 9.9
Research & Development 536.0 102.4 638.4
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 0.0 0.0
Unusual Expense (Income) 476.0 8.0 484.0
Total Expenses 2,892.8 336.5 3,229.3
Operating Income 838.1 -69.2 768.9
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 0.0 10.2 10.2
Other, Net 0.0 0.0 0.0
Income Before Taxes 838.1 -59.1 779.0
Income Taxes 280.9 4.8 285.7
Income After Taxes 557.2 -63.9 493.4
Net Income - Excl. Xord. Items 557.2 -63.9 493.4
Net Income - Incl. Xord. Items 557.2 -63.9 493.4
Income Avail. to Common 557.2 -63.9 493.4
Share Items
Basic Avg. Shares Outstanding 312.1 37.3 349.4
Basic EPS - Excl. Xord. Items 1.79 n/a 1.41
Basic EPS - Incl. Xord. Items 1.79 n/a 1.41
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 313.1 37.3 350.4
F.D. EPS - Excl. Xord. Items 1.78 n/a 1.41
F.D. EPS - Incl. Xord. Items 1.78 n/a 1.41
Balance Sheet
Assets
Cash and Equivalents 5.0 178.9 183.9
ST Investments 1,752.3 69.7 1,822.0
Accounts Receivable 404.4 45.0 449.4
Inventory 438.1 12.8 451.0
Prepayments and Advances 0.0 2.8 2.8
Other Current Assets 264.8 13.6 278.4
Current Assets 2,864.6 322.8 3,187.4
PPE 556.0 0.0 556.0
Accum D&A -205.4 0.0 -205.4
PPE, Net 350.7 11.4 362.1
Goodwill & Intangibles 185.6 103.1 288.7
Long Term Investments 823.3 0.0 823.3
Other Assets 0.0 0.0 0.0
Other LT Assets 57.8 6.0 63.8
Total Assets 4,282.0 443.3 4,725.3
Liabilities
Accounts Payable 165.8 14.3 180.1
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 356.5 66.3 422.8
ST Debt 0.0 0.0 0.0
Other (Current) Liabilities 43.1 0.0 43.1
Current Liab. 565.3 80.6 646.0
LT Debt 0.0 0.0 0.0
Total LT Debt 0.0 0.0 0.0
Deferred Taxes 192.2 2.7 194.8
Other LT Liab. 0.0 1.1 1.1
Total Liabilities 757.5 84.4 841.9
Shareholders Equity
Common Stock 42.1 0.0 42.2
Additional Paid in Capital 1,421.7 631.7 2,053.4
Retained Earnings 5,438.7 -290.7 5,148.0
Treasure Stock -3,407.3 0.0 -3,407.3
Other Equity 29.3 17.9 47.1
Total Equity 3,524.5 358.9 3,883.4
Total Liab. & Equity 4,282.0 443.3 4,725.3
Shares Outstanding 311.4 37.4 348.7
Cash Flow
Operating Cash Flow
CF Net Income 557.2 -63.9 493.4
CF Depreciation 46.6 12.6 59.2
CF Amortization 40.9 0.0 40.9
CF Deferred Taxes -75.8 0.0 -75.8
Other Non-Cash Items 41.9 3.2 45.1
Change in Working Capital 182.7 24.5 207.2
Total Cash From Operating Activities 793.6 -23.5 770.1
Investing Cash Flow (not calculated)
Capital Expenditures -75.8 -6.7 -82.5
Other Investing Cash Flows -644.3 8.6 -635.7
Total Cash From Investing Activities -720.1 1.8 -718.2
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock -275.0 138.0 -137.0
Purchase and Retirement of Debt 0.0 -0.9 -0.9
Other Financing Cash Flow 31.0 0.4 31.4
Total Cash From Financing Activities -244.0 137.5 -106.5
Exchange Rate Effects 8.9 3.2 12.1
Net Change in Cash -161.6 119.0 -42.6
Cash Taxes Paid 166.0 3.0 169.0
Cash Interest Paid 0.0 0.2 0.2