Summary

Other Scenarios:

Buyer: Gilead Sciences, Inc. (GILD) Last Price: 66.15 Market Cap.: 30.42B
Target: Schering AG (ADR) (SHR) Last Price: 120.31 Market Cap.: 22.96B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 870
Biopharmaceuticals 329
Medical Devices   247

- 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: 22)
  • Myogen Cardiac Hypertrophic Signaling Program
  • Myogen Darusentan
  • Myogen Ambrisentan
  • Myogen Flolan (Epoprostenol Sodium)
Target (Total: 79)
  • Cathepsin S Inhibitor
  • Berlex Betapace/Betapace AF (Sotalol Hydrochloride)
  • Berlex Betaseron (Interferon Beta-1b)
  • Berlex AGT-MI (FGF-4 Gene Therapy)
Buyer

n/a
Target
  • Gadofluorine Derivative
  • Berlex Vasovist (Gadofosveset)
  • Medrad Mark V ProVis Injection System
  • Medrad Mark Series

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 1)
  • Genelabs Technologies (GNLB)
Target (Total: 15)
  • Advanced Magnetics, Inc. (AMAG)
  • Biogen Idec Inc. (BIIB)
  • Serono S.A. (ADR) (SRA)
  • Millennium Pharmaceuticals, Inc. (MLNM)
Buyer (Total: 4)
  • Cardinal Health, Inc. (CAH)
  • McKesson Corporation (MCK)
  • AmerisourceBergen Corp. (ABC)
  • OSI Pharmaceuticals, Inc. (OSIP)
Target (Total: 5)
  • Millennium Pharmaceuticals, Inc. (MLNM)
  • Cotherix, Inc (CTRX)
  • Sonus Pharmaceuticals, Inc. (SNUS)
  • Favrille, Inc. (FVRL)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 1,900 23,098
Revenue Per Employee 1,580,611.0 308,724.3
Total Revenue 748.7 1,779.7
Total Expenses 691.2 1,566.3
Other Revenue 0.0 0.0
Cost of Revenue 109.8 415.4
SG&A Expense 132.5 738.0
Research & Development 93.3 310.0
Other Operating Expense 0.0 102.9
Operating Income 57.5 213.4
Unusual Income 355.6 0.0
LT Debt to Capital 28.27 5.88
Fwd P/E 27.39 n/a
Fwd P/Rev 10.44 n/a
Book Value 3,298.8 4,297.3
Curr Portion of LTD/Cap Lease 60.1 30.1

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals > Infectious Diseases > Viral

Target

Focused (): *Healthcare > Biopharmaceuticals

Business Description

Buyer

Gilead Sciences, Inc. (Gilead) is a biopharmaceutical company that discovers, develops and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases. Gilead is a multinational company, with revenues from nine approved products and marketing operations in twelve countries. It focuses its research and clinical programs on anti-infectives. Gilead markets Viread (tenofovir disoproxil fumarate), Emtriva (emtricitabine) and Truvada (emtricitabine and tenofovir disoproxil fumarate) for the treatment of human immunodeficiency virus (HIV) infection; Hepsera (adefovir dipivoxil) for the treatment of chronic hepatitis B infection; AmBisome (amphotericin B liposome for injection) for the treatment of fungal infection, and Vistide (cidofovir injection) for the treatment of cytomegalovirus infection. In August 2006, Gilead acquired Corus Pharma. In November 2006, Gilead acquired Raylo Chemicals Inc., a subsidiary of specialty chemicals company, Degussa AG.

Target

Schering AG is a global research-based company engaged in the discovery, development, manufacture, marketing and sale of pharmaceutical products. The Company operates eight research and development centers in Europe, the United States and Japan, produce products in facilities located in Europe, the United States, Latin America and Asia, and markets and sells its products in over 100 countries worldwide. Its research and development efforts are primarily concentrated on the commercialization of technologies for unmet medical needs in its four core business areas: Gynecology & Andrology, Diagnostic Imaging, Specialized Therapeutics and Oncology. The Company derived approximately 38% of its net sales, during the year ended December 31, 2005, from sales of four key products: Betaferon, sold in the United States and Canada under the Betaseron trademark (16% of net sales); Yasmin (11%); Magnevist (6%), and Ultravist (5%). Bayer AG gained control of a total of 88% of the Company in June 2006.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 87.13 76.83
Operating Margin % 42.27 15.61
Quick Ratio 5.91 1.76
Current Ratio 6.93 2.31
Coverage Ratio 0.09 0.02
Total Assets 5,299.1 7,378.4
Return on Equity % 22.96 17.64
Return on Assets % 14.29 10.27
Cash+ ST Inv. Per Share 6.24 8
Total Debt 1,360.1 298.7
Total Debt to Equity % 41.23 6.95
Total Debt to Tangible Equity % 41.23 8.61
Debt to Asset % 25.67 4.05

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals
Allergies
The Allergies Subsector includes therapeutics that treat exaggerated immune reaction induced by exposure to a foreign substance.
  
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.
  
Hematology
The Hematology Subsector includes therapeutics that treat blood-based diseases and disorders.
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.
  
Ophthalmology
The Ophthalmology Subsector includes therapeutics that treat eye disorders, infections, inflammations and irritations.
  
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.
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.
  
Medical Devices  
Cardiology
The Cardiology Subsector includes medical devices that diagnose, monitor, and treat diseases affecting the heart and proximal blood vessels. Common devices include vital sign monitors, cardiac defibrillators, pacemakers, and other surgical equipment.
  
Neurology
The Neurology Subsector includes medical devices that diagnose, monitor and treat neurological disorders.
  
Oncology
The Oncology Subsector includes medical devices that detect and treat cancers.
  
Radiology
The Radiology Subsector includes medical devices that generate images of internal physiology.
  
Urology
The Urology Subsector includes medical that diagnose and treat urinary tract and male reproductive disorders.
  
Vascular
The Vascular Subsector includes medical devices that diagnose and treat of conditions affecting the blood vessels.
  

- 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
Allergies  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of allergic reactions in very early stages of research where no human subject is involved.

Target Products:

  • Cathepsin S Inhibitor
  
Cardiovascular System
Heart Disorders  
Arrhythmia  
Beta Adrenergic Receptor Blocking Agents (Beta Blockers)
Therapeutics that treat abnormal rhythm of the heart beat by inhibiting the stimulation of beta adrenergic receptors of the heart muscle.

Target Products:

  • Berlex Betapace/Betapace AF (Sotalol Hydrochloride)
  
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:

  • Berlex Betaseron (Interferon Beta-1b)
  • Berlex AGT-MI (FGF-4 Gene Therapy)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of heart and circulatory system disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Myogen Cardiac Hypertrophic Signaling Program

Target Products:

  • Cathepsin S Inhibitor
Vascular Disorders
Hypertension  
Endothelin Receptor Antagonists
Therapeutics that treat hypertension by blocking the action of endothelin, which prevents/reduces constriction of the blood vessels.

Buyer Products:

  • Myogen Darusentan
  
Primary Pulmonary Hypertension  
Endothelin Receptor Antagonists
Therapeutics that treat hypertension by blocking the action of endothelin, which prevents/reduces constriction of the blood vessels.

Buyer Products:

  • Myogen Ambrisentan
  
Prostacyclins
Therapeutics that relieve pulmonary hypertension by causing vasodilation of the pulmonary blood vessels.

Buyer Products:

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

Target Products:

  • Berlex Refludan (Lepirudin)
  
Dermatology  
Acne  
Rosacea  
Azelaic Acid
Therapeutics that treat and prevent rosacea caused by bacteria.

Target Products:

  • Berlex Finacea (Azelaic Acid)
  
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:

  • CRA-028129 (Cathepsin S Inhibitor)
  • Berlex Tisocalcitate (Calcitriol Analog)
  
Digestive System
Gastrointestinal Tract Disorders  
Intestinal Disorders  
Inflammatory Bowel Disease (IBD)  
Crohn`s Disease  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat Crohn's Disease by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Target Products:

  • Berlex Leukine (Sargramostim)
  
Stomatognathic Disorders  
Mucositis  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat mucositis by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Target Products:

  • Berlex Leukine (Sargramostim)
  
Liver Disorders  
Hepatitis  
Hepatitis B  
Chronic  
Reverse Transcriptase Inhibitors (Nucleoside Analogs)
Therapeutics that treat hepatitis by inhibiting the action of reverse transcriptase, an enzyme necessary for DNA synthesis using an RNA template.

Buyer Products:

  • HepSera (Adefovir Dipivoxil)
  • Emtriva (Emtricitabine)
  • Viread (Tenofovir Disoproxil Fumarate)
  
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:

  • Immunostimulatory Sequences Candidate
  • ACH-806/GS 9132 (HCV Protease Inhibitor)
  
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.

Buyer Products:

  • Protease and Polymerase Inhibitors
  
Endocrinology/Metabolism  
Reproductive Disorders  
Hypoestrogenism  
Hormonal Treatments  
Estrogens
Therapeutics that are female sex hormones.

Target Products:

  • Berlex Climara (Estradiol Transdermal System)
  
Hypogonadism  
Female  
Hormonal Treatments  
Estrogens
Therapeutics that are female sex hormones.

Target Products:

  • Berlex Climara (Estradiol Transdermal System)
  
Menopause  
Estrogens
Therapeutics that are female sex hormones.

Target Products:

  • Berlex Climara (Estradiol Transdermal System)
  
Estrogens/Progestins
Therapeutics that are mixture of two female sex hormones that are important for the development of the female reproductive system.

Target Products:

  • Berlex Climodien 1/2 (Estradiolvalerate/Dienogest)
  • Berlex Climara Pro (Levonorgestrel/Estradiol Transdermal)
  • Berlex Angeliq (Drospirenone/Estradiol)
  
Progestins
Therapeutics that are female sex hormones.

Target Products:

  • Berlex Levonorgestrel Intrauterine System
  
Hematology
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of hematological disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Protease and Polymerase Inhibitors
  • Small Molecule Therapeutics
  
White Blood Cell (WBC) Disorders  
Neutropenia  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat neutropenia by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Target Products:

  • Berlex Leukine (Sargramostim)
  
Immunology
Autoimmune Disorders  
Inflammatory Bowel Disease (IBD)  
Crohn`s Disease  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat Crohn's Disease by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Target Products:

  • Berlex Leukine (Sargramostim)
  
Multiple Sclerosis (MS)  
Interferons
Therapeutics that treat multiple sclerosis with a recombinant human protein that downregulates the antibody response of the immune system.

Target Products:

  • Berlex Betaseron (Interferon Beta-1b) For SC Injection
  • Berlex Betaseron (Interferon Beta-1b)
  
Immune Deficiency Disorders  
Human Immunodeficiency Virus (HIV)/Acquired Immune Deficiency Syndrome (AIDS)  
Nucleoside Reverse Transcriptase Inhibitors (NRTI)
Therapeutics that help manage HIV by inhibiting the action of reverse transcriptase, an enzyme necessary for the DNA synthesis on a RNA template.

Buyer Products:

  • Emtriva (Emtricitabine)
  • Truvada (Tenofovir Disoproxil Fumarate/Emtricitabine)
  • Viread (Tenofovir Disoproxil Fumarate)
  
Nucleoside and Non-Nucleoside Reverse Transcriptase Inhibitors (NRTI/NNRTI)
Therapeutics that help manage HIV by inhibiting the action of reverse transcriptase, an enzyme necessary for the DNA synthesis on a RNA template.

Buyer Products:

  • Atripla (Efavirenz/Emtricitabine/Tenofovir Disoproxil Fumarate)
  
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:

  • GS 9137 (HIV Integrase Inhibitor)
  • GS 7340 (Non-Nucleotide Reverse Transcriptase Inhibitor)

Target Products:

  • Berlex Tisocalcitate (Calcitriol Analog)
  • Berlex Campath (Alemtuzumab)
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:

  • GS 9005 (HIV Protease Inhibitor)

Target Products:

  • Cathepsin S Inhibitor
Infectious Diseases
Mycological (Fungal)  
Antifungal Agents  
Broad Spectrum  
Polyene Macrolide Antibiotics
Therapeutics that treat fungal infections by increasing permeability of the cell wall causing leakage of cellular contents.

Buyer Products:

  • AmBisome (Amphotericin B)
  
Narrow Spectrum  
Nervous System  
Cryptococcal Meningitis  
Polyene Macrolide Antibiotics
Therapeutics that treat fungal infections of the lining of the brain and spinal cord by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • AmBisome (Amphotericin B)
  
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:

  • GS 9137 (HIV Integrase Inhibitor)
  • GS 7340 (Non-Nucleotide Reverse Transcriptase Inhibitor)
  • Immunostimulatory Sequences Candidate
  • ACH-806/GS 9132 (HCV Protease Inhibitor)
  
Protozoal  
Antiprotozoal Agents  
Narrow Spectrum  
Visceral Leishmaniasis  
Polyene Macrolide Antibiotics
Therapeutics that treat infections characterized by Leishmania in macrophages by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • AmBisome (Amphotericin B)
  
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:

  • Corus 1040 Inhaled Antibiotic
  • GS 9005 (HIV Protease Inhibitor)
  • Small Molecule Therapeutics
  • Protease and Polymerase Inhibitors
  • Tamiflu (Oseltamivir Phosphate)

Target Products:

  • Human Papilloma Virus Vaccine
Viral  
DNA Viruses  
Hepadnavirus  
Hepatitis B  
Chronic  
Reverse Transcriptase Inhibitors (Nucleoside Analogs)
Therapeutics that treat viral infections characterized by inflammation of the liver for more than six months by blocking enzyme essential for viral DNA synthesis.

Buyer Products:

  • Emtriva (Emtricitabine)
  • Viread (Tenofovir Disoproxil Fumarate)
  • HepSera (Adefovir Dipivoxil)
  
RNA Viruses  
Orthomyxovirus  
Influenza A  
Neuraminidase Inhibitors
Therapeutics that treat viral infections of the respiratory tract caused by Influenza A virus by preventing the release of new viruses from infected cells.

Buyer Products:

  • Tamiflu (Oseltamivir Phosphate)
  
Influenza B  
Neuraminidase Inhibitors
Therapeutics that treat viral infections of the respiratory tract caused by Influenza B virus by preventing the release of new viruses from infected cells.

Buyer Products:

  • Tamiflu (Oseltamivir Phosphate)
  
Retrovirus  
Human Immunodeficiency Virus (HIV)/Acquired Immune Deficiency Syndrome (AIDS)  
Nucleoside Reverse Transcriptase Inhibitors (NRTI)
Therapeutics that help manage HIV by inhibiting the action of reverse transcriptase, an enzyme necessary for the DNA synthesis on a RNA template.

Buyer Products:

  • Emtriva (Emtricitabine)
  • Viread (Tenofovir Disoproxil Fumarate)
  • Truvada (Tenofovir Disoproxil Fumarate/Emtricitabine)
  
Nucleoside and Non-Nucleoside Reverse Transcriptase Inhibitors (NRTI/NNRTI)
Therapeutics that help manage HIV by inhibiting the action of reverse transcriptase, an enzyme necessary for the DNA synthesis on a RNA template.

Buyer Products:

  • Atripla (Efavirenz/Emtricitabine/Tenofovir Disoproxil Fumarate)
  
Musculoskeletal System  
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.

Target Products:

  • Cathepsin S Inhibitor
  
Skeletal Disorders  
Bone Disorders  
Osteoporosis  
Hormonal Treatments  
Estrogens
Therapeutics that treat osteoporosis by providing female hormones which results in a decrease in the rate of bone loss due to osteoclasts.

Target Products:

  • Berlex Menostar (Estradiol)
  • Berlex Climara (Estradiol Transdermal System)
  
Estrogens/Progestins
Therapeutics that treat osteoporosis by providing female hormones which results in a decrease in the rate of bone loss due to osteoclasts.

Target Products:

  • Berlex Climara Pro (Levonorgestrel/Estradiol Transdermal)
  
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.

Target Products:

  • Berlex Betaseron (Interferon Beta-1b)
  • Berlex Betaseron (Interferon Beta-1b) For SC Injection
  
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:

  • Berlex Spheramine
  • Berlex Campath (Alemtuzumab)
  
Psychiatric Disorders  
Mood Disorders  
Premenstrual Dysphoric Disorders  
Estrogens/Progestins
Therapeutics that treat premenstrual dysphoric disorders by decreasing the secretion of gonadotropin-releasing hormone in the hypothalamus.

Target Products:

  • Berlex YAZ (Drospirenone/Ethinyl Estradiol)
  
Obstetrics/Gynecology  
Child Birth/Pregnancy  
Prevention (Contraception)  
Contraceptives (Birth Control)  
Estrogens/Progestins
Therapeutics that prevent conception by decreasing the secretion of gonadotropin-releasing hormone in the hypothalamus, resulting in an anti-ovulatory effect.

Target Products:

  • Berlex Tri-Levlen 21/Tri-Levlen 28 (Levonorgestrel/Ethinyl Estradiol Tablets)
  • Berlex Yasmin (Drospirenone/Ethinyl Estradiol)
  • Berlex E2/DNG Pill (Estradivalerate/Dienogest)
  • Berlex FC Patch (Gestodene/Ethinyl Estradiol)
  • Berlex YAZ (Drospirenone/Ethinyl Estradiol)
  • Berlex Levlen 21/Levlen 28 (Levonorgestrel/Ethinyl Estradiol Tablets)
  • Berlex Levlite (Levonorgestrel/Ethinyl Estradiol Tablets)
  
Progestins
Contraceptive Therapeutics that are female sex hormone necessary for the development of the female reproductive system

Target Products:

  • Berlex Mirena (Levonorgestrel-Releasing Intrauterine Device)
  
Female Genital Disorders  
Endometriosis  
Gonadotropin Releasing Hormone (GnRH) Agonists
Therapeutics that treat endometriosis by suppressing the secretion of luteinizing hormone which results in decreased testosterone concentrations.

Target Products:

  • Berlex Endometrion (Dienogest)
  
Ovarian  
Hypogonadism  
Hormonal Treatments  
Estrogens
These are female sex hormones.

Target Products:

  • Berlex Climara (Estradiol Transdermal System)
  
Vulvovaginal  
Atrophy  
Hormonal Treatments  
Estrogens
Therapeutics that treat disorders characterized by thinning of the vaginal walls with the female sex hormone estrogen.

Target Products:

  • Berlex Climara (Estradiol Transdermal System)
  
Oncology  
Breast Cancer  
Metastatic  
Antimicrotubule Agents
Therapeutics that treat and manage cancers of the breast that have spread beyond their original tumor site by blocking the normal function of microtubules, thus inhibiting cell division.

Target Products:

  • TOCOSOL Paclitaxel (S-8184)
  
Digestive System  
Colon Cancer/Colorectal Cancer  
Localized  
Vascular Endothelial Growth Factor Receptor Inhibitor (VEGFR)
Therapeutics that treat colorrectal cancer by binding specifically to the tyrosine kinase domain of vascular endothelial growth factor receptor (VEGFR) and inhibiting the formation of blood vessels around tumor cells.

Target Products:

  • Berlex PTK787 (Vatalanib)
  
Metastatic  
Vascular Endothelial Growth Factor Receptor Inhibitor (VEGFR)  
Hematology  
Leukemia  
Lymphoid  
Chronic  
Lymphocytic (CLL)  
Antimetabolite Agents  
Adenosine Deaminase Inhibitors
Therapeutics that treat and manage slowly progressing cancers of lymphocytic cells by inhibiting the transformation of deoxyadenosine into deoxyinosine thereby impairing DNA synthesis as well as leaving the cancer cells unable to repair single stranded DNA breaks.

Target Products:

  • Berlex Fludara (Fludarabine Phosphate)
  
Monoclonal Antibodies
Therapeutics that bind to specific receptors on the surface of leukemia cells and thereby induce their death.

Target Products:

  • Berlex Campath (Alemtuzumab)
  
Palliative Agents  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat neutropenia and other cancer related conditions by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Target Products:

  • Berlex Leukine (Sargramostim)
  
Lymphoma  
Hodgkin`s Disease  
Palliative Agents  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat neutropenia and other cancer related conditions of lymphoma characterized by the presence of Reed-Sternberg cells by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Target Products:

  • Berlex Leukine (Sargramostim)
  
Non-Hodgkin`s Lymphoma (NHL)  
Palliative Agents  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics that treat neutropenia and other cancer related conditions of lymphomas of B-cells and T-cells by inducing the maturation and proliferation of granulocytes, macrophages and mixed granulocyte-macrophage colonies of cells.

Target Products:

  • Berlex Leukine (Sargramostim)
  
Musculoskeletal System  
Metastatic  
Osteolytic Bone Metastases  
Osteoclast Bone Resorption Inhibitors
Therapeutics that treat and manage bone cancers that have spread beyond their original tumor site by preventing the loss of bone mass followed by deposition of new bone which can result in entrapped tumors below the new bone surface.

Target Products:

  • Berlex Bonefos (Clodronate)
  
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:

  • ZK-EPO (Epothilone)
  • Berlex MS-275 (Histone Deacytelators)
  • Oral Multi-target Tumor Growth Inhibitor (MTGI)
  • TOCOSOL Paclitaxel (S-8184)
  • Berlex PTK787 (Vatalanib)
  • Berlex MS209 (Multidrug Resistance Modulator)
  
Urology  
Uterine Cancer  
Uterine Fibroids (Leiomyoma, Uterus)  
Progestins Receptor Modulators
Therapeutics that treat and manage non-cancerous tumors of the uterus by modulating the effects of progesterone.

Target Products:

  • Berlex Asoprisnil
  
Ophthalmology  
Degenerative Disorders  
Retinitis  
AIDS-Related Cytomegalovirus (CMV) Retinitis  
Viral DNA Polymerase Inhibitors
Therapeutics that treat cytomegalovirus (CMV) infections by inhibiting a key enzyme necessary for viral replication.

Buyer Products:

  • Vistide (Cidofovir)
  
Pain Management  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of pain in very early stages of research where no human subject is involved.

Buyer Products:

  • Corus Inhaled Lidocaine
  
Respiratory System
Lower Respiratory Tract Disorders (Lung Disorders)  
Cystic Fibrosis (CF)  
Complications  
Bacterial Infections  
Antibacterial Agents (Antibiotics)  
Monobactams
Therapeutics that treat bacterial infections of the lung resulting as a complication of cystic fibrosis by inhibiting bacterial cell wall synthesis during active multiplication.

Buyer Products:

  • Corus Inhaled Aztreonam Lysine
  
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.

Target Products:

  • Cathepsin S Inhibitor
  
Transplantation  
Bone Marrow  
Complications  
Neutropenia  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics containing biological proteins that stimulate the formation of certain white blood cell colonies.

Target Products:

  • Berlex Leukine (Sargramostim)
  
Peripheral Blood Progenitor Cell Transplant (PBPCT)  
Recovery  
Colony Stimulating Factors (CSF)  
Granulocyte Macrophage (rhGM-CSF)
Therapeutics containing biological proteins that stimulate the formation of certain white blood cell colonies.

Target Products:

  • Berlex Leukine (Sargramostim)
  
Urology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of urological disorders in early stages of clinical research where human subject is involved.

Target Products:

  • Progestogen Etonogestrel
  • Berlex Oxybutynin Releasing Vaginal Ring
  
Medical Devices  
Cardiology  
Diagnostic  
Imaging  
Magnetic Resonance Imaging (MRI)  
Contrast Agents
A drug that is introduced into a patient to attain better image quality.

Target Products:

  • Gadofluorine Derivative
  • Berlex Vasovist (Gadofosveset)
  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Target Products:

  • Medrad Mark V ProVis Injection System
  • Medrad Mark Series
  
Monitoring  
Monitors  
Vitals/Multiple Parameter  
Electrocardiogram (ECG/EKG)/Pulse Oximeter (SpO2)/ Multiple Vitals  
Portable
Device that measures, records, and displays the electrical signals of the heart, the oxygen concentration in the blood, the blood pressure with direct access to an artery and blood pressure with out direct access to an artery and can be moved around with the patient.

Target Products:

  • Medrad 9500 Vital Signs Patient Monitor
  
Neurology  
Surgical  
Region Specific  
Brain  
Stereotactic Surgery  
Guidance/ Planning Systems
Imaging equipment and/or computer systems that create a 3D map of the interior of the brain facilitating stereotactic surgery.

Target Products:

  • Medrad SimpliCT
  
Oncology  
Diagnostic  
Imaging  
MRI  
Contrast Agents
A drug that is introduced into a patient to attain better MRI image quality.

Target Products:

  • Berlex Vasovist (Gadofosveset)
  
Radiology  
Computed Tomography (CT) Scan  
Accessories  
CT Contrast Injectors
Devices that mechanically push contrast agent into the patient.

Target Products:

  • Medrad EnVision CT
  • Medrad Stellant CT
  • Medrad Vistron CT
  
Syringes
Disposables used in contrast injection pumps.

Target Products:

  • Medrad Angiomat 3000/6000/6000CT
  • Medrad 100/200/300 Series
  • Medrad EnVision CT Front Load
  • Medrad MCT Plus Front Load
  • Medrad Viamonte-Hobbs 2000
  • Medrad Vistron CT Front Load
  
Contrast Agents  
Injectable
CT Scan contrast agents administered by injection.

Target Products:

  • Berlex Neotect (Kit for the Preparation of Technetium Tc 99m Depreotide Injection)
  • Berlex Acutect (Kit for the Preparation of Technetium Tc 99m Apcitide Injection)
  • Berlex Ultravist (Iopromide)
  
MRI  
Accessories  
Needle Systems
Injection systems used to deliver MRI contrast agents.

Target Products:

  • Medrad Spectris Solaris MR Injection Series
  • Medrad Continuum MR Compatible Infusion System
  • Medrad Spectris MR
  
Coils  
Closed MRI  
General Purpose
A closed MRI system that is designed to be used for multiple purpose imaging studies.

Target Products:

  • Medrad Multi-Purpose Array
  
Region Specific  
Abdominal
A coil that is placed on the abdomen to attain an image.

Target Products:

  • Medrad MRInnervu
  • Medrad Torso Array
  
Breast
A coil that is placed on the breast to attain an image of it.

Target Products:

  • Medrad Breast Coil/Array
  
Head/Neck
A coil that is placed on or around the head/neck to attain an image of it.

Target Products:

  • Medrad Neurovascular Array
  • Medrad Anterior Neck Coil
  
Lower Extremity
A coil that is placed on the lower extremity to attain an image of it.

Target Products:

  • Medrad Extremity Array
  
Spine
A coil that is placed near the spine to attain an image of it.

Target Products:

  • Medrad Quadrature Cervical Thoracic-Lumbar Array
  
Upper Extremity
A coil that is placed on an upper extremity to attain an image of it.

Target Products:

  • Medrad Extremity Array
  • Medrad Shoulder Coil
  
Vascular
A coil that is placed near a vessel to attain an image of it.

Target Products:

  • Medrad Gore Cardiovascular Array
  
Contrast Agents  
Injectable
A contrast agent that gets introduced to the body via a needle or IV.

Target Products:

  • Berlex Eovist
  • Berlex Magnevist (Gadopentetate Dimeglumine)
  • Berlex Feridex I.V. (Ferumoxide)
  • Berlex Vasovist (Gadofosveset)
  • Berlex SHU 555C
  • Berlex Primovist (Gadoxetic Acid)
  • Berlex Gadovist (Gadobutrol)
  • Berlex Resovist
  
Ultrasound  
Accessories  
Aspiration Needles
Biopsy needles that have special properties allowing ultrasound guidance.

Target Products:

  • Medrad Pulsar Injection System
  
X-Ray  
Contrast Agents  
Injectable
Introduced to the body via a needle.

Target Products:

  • Berlex Ultravist (Iopromide)
  • SF-64 (Omocianine)
  
Urology  
Diagnostic  
Imaging  
MRI  
Contrast Agents
A drug that is introduced into a patient to attain better MRI image quality.

Target Products:

  • Berlex Vasovist (Gadofosveset)
  
Vascular  
Diagnostic  
Imaging  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Target Products:

  • Medrad Mark 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
  Roche Holding Ltd. (ADR) n/a 157,245.145 34.89 24.82 5.69 n/a 8.62
Genentech, Inc. n/a 84,941.939 45.71 40.64 10.04 9.42 12.00
United Therapeutics Corporation n/a 1,347.933 28.16 33.96 9.40 8.82 5.10
Encysive Pharmaceuticals, Inc. n/a 408.220 n/a -3.43 21.33 17.34 n/a
EPIX Pharmaceuticals, Inc. n/a 125.667 n/a -2.99 20.31 15.99 n/a
Buyer
  Pfizer Inc. n/a 193,888.862 15.37 13.35 4.01 4.07 8.31
Roche Holding Ltd. (ADR) n/a 157,245.145 34.89 24.82 5.69 n/a 8.62
Target
  Roche Holding Ltd. (ADR) n/a 157,245.145 34.89 24.82 5.69 n/a 8.62
Genentech, Inc. n/a 84,941.939 45.71 40.64 10.04 9.42 12.00
Amgen, Inc. n/a 84,572.553 28.76 19.18 6.17 5.98 31.37
Teva Pharmaceutical Industries Ltd (ADR) n/a 25,046.770 64.06 14.03 3.33 2.95 34.79
Biogen Idec Inc. n/a 17,365.400 105.62 24.29 6.66 6.52 5.90
Serono S.A. (ADR) n/a 13,657.170 19.97 19.08 4.99 4.87 5.65
Altana AG (ADR) n/a 7,901.267 12.40 13.47 3.28 n/a 3.62
Elan Corporation, plc (ADR) n/a 6,402.804 n/a -19.09 11.98 11.94 n/a
Barr Pharmaceuticals, Inc. n/a 5,376.860 17.57 15.38 4.02 3.70 4.32
Warner Chilcott Ltd. n/a 3,397.557 n/a 24.98 4.95 4.66 n/a
Medicis Pharmaceutical Corporation n/a 2,078.941 n/a 48.94 6.28 5.89 8.62
MGi Pharma, Inc. n/a 1,532.097 n/a -107.28 4.46 4.36 n/a
The Medicines Company n/a 1,388.930 318.19 90.77 7.48 6.53 6.95
United Therapeutics Corporation n/a 1,347.933 28.16 33.96 9.40 8.82 5.10
Pharmion Corporation n/a 741.256 n/a -53.34 3.15 3.18 3.38
Advanced Magnetics, Inc. n/a 683.619 n/a -60.21 250.37 498.12 15.35
GPC Biotech AG (ADR) n/a 681.567 n/a n/a 26.01 n/a 6.76
Noven Pharmaceuticals, Inc. n/a 548.127 36.71 35.39 9.10 9.20 3.43

- 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
  Genelabs Technologies 81.70% 40.405 n/a n/a 4.32 n/a 12.75
Target
  Advanced Magnetics, Inc. 47.00% 683.619 n/a -60.21 250.37 498.12 15.35
Biogen Idec Inc. n/a 17,365.400 105.62 24.29 6.66 6.52 5.90
Serono S.A. (ADR) n/a 13,657.170 19.97 19.08 4.99 4.87 5.65
Millennium Pharmaceuticals, Inc. n/a 3,612.192 n/a -286.50 7.70 7.57 6.47
Medarex, Inc. n/a 1,644.559 n/a -9.34 29.36 34.19 4.46
Crucell N.V. (ADR) n/a 1,397.634 n/a -13.44 14.23 7.49 3.80
Dendrite International, Inc. n/a 511.778 n/a 53.45 1.22 1.23 3.77
Penwest Pharmaceuticals n/a 422.847 n/a -13.24 114.56 110.91 8.71
OPNET Technologies, Inc. n/a 332.082 60.23 43.76 3.79 3.42 3.71
Peregrine Pharmaceuticals n/a 246.122 n/a n/a 72.26 n/a 8.49
EPIX Pharmaceuticals, Inc. n/a 125.667 n/a -2.99 20.31 15.99 n/a
Pharmacopeia Drug Discovery, Inc. n/a 85.337 n/a -2.54 4.44 4.80 4.51
Bioject Medical Technologies Inc. n/a 14.847 n/a n/a 1.55 n/a 2.54
Tripos, Inc. n/a 7.810 n/a n/a 0.18 n/a 0.38
Valentis, Inc. n/a 7.687 n/a n/a 10.58 n/a 3.16

- 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
  Cardinal Health, Inc. 18.00% 25,195.796 24.17 16.98 0.30 0.28 7.48
McKesson Corporation 11.80% 14,259.786 17.26 17.85 0.16 0.15 3.50
AmerisourceBergen Corp. 11.80% 9,114.743 19.49 18.56 0.15 0.15 2.20
OSI Pharmaceuticals, Inc. n/a 2,142.241 n/a -96.21 5.65 5.48 222.11
Target
  Millennium Pharmaceuticals, Inc. n/a 3,612.192 n/a -286.50 7.70 7.57 6.47
Cotherix, Inc n/a 384.762 n/a -14.06 6.41 5.57 4.49
Sonus Pharmaceuticals, Inc. n/a 213.430 n/a -7.65 8.62 8.95 4.34
Favrille, Inc. n/a 101.704 n/a -2.25 n/a n/a 1.89
Accentia Biopharmaceuticals, Inc n/a 100.865 n/a -2.34 3.72 3.31 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
  Pfizer Inc. n/a 193,888.862 15.37 13.35 4.01 4.07 8.31
Novartis AG (ADR) n/a 137,962.635 20.11 18.92 3.81 3.74 3.58
Medarex, Inc. n/a 1,644.559 n/a -9.34 29.36 34.19 4.46
Praecis Pharmaceuticals n/a 21.903 n/a n/a 3.33 n/a 0.69
Buyer
  Pfizer Inc. n/a 193,888.862 15.37 13.35 4.01 4.07 8.31
Roche Holding Ltd. (ADR) n/a 157,245.145 34.89 24.82 5.69 n/a 8.62
Target
  Pfizer Inc. n/a 193,888.862 15.37 13.35 4.01 4.07 8.31
Novartis AG (ADR) n/a 137,962.635 20.11 18.92 3.81 3.74 3.58
AstraZeneca plc (ADR) n/a 89,001.730 15.25 14.69 3.48 3.38 8.92
Abbott Laboratories n/a 72,061.862 22.74 18.94 3.23 3.25 28.77
3M Company n/a 59,756.110 17.39 17.98 2.66 2.62 9.21
Koninklijke Philips Electronics NV (ADR) n/a 43,560.190 6.91 33.58 1.23 1.30 1.83
Biogen Idec Inc. n/a 17,365.400 105.62 24.29 6.66 6.52 5.90
Genzyme Corporation n/a 17,130.299 47.84 29.82 5.60 5.42 5.69
Serono S.A. (ADR) n/a 13,657.170 19.97 19.08 4.99 4.87 5.65
Vertex Pharmaceuticals Incorporated n/a 5,639.027 n/a -22.12 30.34 26.84 11.11
Millennium Pharmaceuticals, Inc. n/a 3,612.192 n/a -286.50 7.70 7.57 6.47
Warner Chilcott Ltd. n/a 3,397.557 n/a 24.98 4.95 4.66 n/a
Bausch & Lomb Inc. n/a 2,676.622 17.99 72.25 1.14 1.14 4.69
Medarex, Inc. n/a 1,644.559 n/a -9.34 29.36 34.19 4.46
Pharmion Corporation n/a 741.256 n/a -53.34 3.15 3.18 3.38
Advanced Magnetics, Inc. n/a 683.619 n/a -60.21 250.37 498.12 15.35
Penwest Pharmaceuticals n/a 422.847 n/a -13.24 114.56 110.91 8.71
Indevus Pharmaceuticals n/a 403.455 n/a -7.71 8.89 8.48 n/a
Cotherix, Inc n/a 384.762 n/a -14.06 6.41 5.57 4.49

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 2,736.2 7,009.5 9,745.6
Other Revenue 0.0 0.0 0.0
Total Revenue 2,736.2 7,009.5 9,745.6
Cost of Revenue 352.2 1,624.0 1,976.2
SG&A Expense 530.9 2,887.9 3,418.8
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 341.0 1,283.9 1,624.9
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 119.2 119.2
Unusual Expense (Income) 355.6 0.0 355.6
Total Expenses 1,579.6 5,915.1 7,494.7
Operating Income 1,156.5 1,094.4 2,250.9
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 107.9 18.8 126.7
Other, Net 0.0 28.9 28.9
Income Before Taxes 1,264.4 1,142.1 2,406.5
Income Taxes 507.1 384.0 891.2
Income After Taxes 757.3 758.1 1,515.3
Minority Interest (IS) 0.0 -5.0 -5.0
Net Income - Excl. Xord. Items 757.3 753.0 1,510.3
Net Income - Incl. Xord. Items 757.3 753.0 1,510.3
Income Avail. to Common 757.3 753.0 1,510.3
Share Items
Basic Avg. Shares Outstanding 457.4 192.4 649.9
Basic EPS - Excl. Xord. Items 1.66 3.91 2.32
Basic EPS - Incl. Xord. Items 1.66 3.91 2.32
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 457.4 192.4 649.9
F.D. EPS - Excl. Xord. Items 1.66 3.91 2.32
F.D. EPS - Incl. Xord. Items 1.66 3.91 2.32
Dividends Per Common Share 0.00 1.51 1.51
Balance Sheet
Assets
Cash and Equivalents 559.6 1,445.8 2,005.4
ST Investments 2,294.4 94.1 2,388.5
Accounts Receivable 585.0 1,865.0 2,450.1
Inventory 373.3 1,070.6 1,443.8
Prepayments and Advances 44.4 0.0 44.4
Other Current Assets 175.7 0.0 175.7
Current Assets 4,032.4 4,475.5 8,507.9
Accum D&A 0.0 0.0 0.0
PPE, Net 288.1 1,408.2 1,696.3
Goodwill & Intangibles 0.0 829.6 829.6
Long Term Investments 352.4 268.6 620.9
Other Assets 0.0 0.0 0.0
Other LT Assets 626.3 396.6 1,022.9
Total Assets 5,299.1 7,378.4 12,677.6
Liabilities
Accounts Payable 207.8 0.0 207.8
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 297.2 0.0 297.2
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 60.1 30.1 90.2
Other (Current) Liabilities 16.8 1,907.7 1,924.4
Current Liab. 581.8 1,937.8 2,519.6
LT Debt 1,300.0 268.6 1,568.6
Total LT Debt 1,300.0 268.6 1,568.6
Minority Interest (BS) 0.0 23.8 23.8
Other LT Liab. 118.5 850.9 969.4
Total Liabilities 2,000.3 3,081.2 5,081.5
Shareholders Equity
Common Stock 0.5 243.5 243.9
Additional Paid in Capital 2,518.0 419.2 2,937.2
Retained Earnings 774.3 3,638.4 4,412.7
Treasure Stock 0.0 -3.8 -3.8
Other Equity 6.1 0.0 6.1
Total Equity 3,298.8 4,297.3 7,596.1
Total Liab. & Equity 5,299.1 7,378.4 12,677.6
Shares Outstanding 458.8 190.8 649.6
Cash Flow
Operating Cash Flow
CF Net Income 757.3 758.1 1,515.3
CF Depreciation 36.9 430.5 467.4
CF Amortization 10.5 0.0 10.5
CF Deferred Taxes -121.4 0.0 -121.4
Other Non-Cash Items 617.6 -86.6 531.0
Change in Working Capital -216.5 356.4 139.9
Total Cash From Operating Activities 1,084.3 1,458.4 2,542.7
Investing Cash Flow (not calculated)
Capital Expenditures -88.0 -377.8 -465.8
Other Investing Cash Flows -1,906.3 -7.5 -1,913.8
Total Cash From Investing Activities -1,994.3 -385.3 -2,379.6
Financing Cash Flow (not calculated)
Dividends Paid 0.0 -291.2 -291.2
Purchase Or Sale of Stock -385.0 74.0 -310.9
Purchase and Retirement of Debt 1,414.8 0.0 1,414.8
Other Financing Cash Flow -65.1 -579.8 -644.9
Total Cash From Financing Activities 964.7 -797.0 167.8
Exchange Rate Effects -13.8 -12.6 -26.3
Net Change in Cash 41.0 263.6 304.5
Cash Taxes Paid 151.4 252.3 403.6
Cash Interest Paid 0.1 15.1 15.2