Summary

Other Scenarios:

Buyer: Gilead Sciences, Inc. (GILD) Last Price: 45.03 Market Cap.: 41.00B
Target: PDL BioPharma Inc. (PDLI) Last Price: 9.40 Market Cap.: 1.12B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 844
Biopharmaceuticals 368
Outsourced Services   48

- 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)
  • Darusentan
  • Letairis (Ambrisentan)
  • Flolan (Epoprostenol Sodium)
  • Viread (Tenofovir Disoproxil Fumarate)
Target (Total: 8)
  • Nuvion (Visilizumab)
  • Daclizumab (Monoclonal Antibody)
  • Therapeutic Antibody Candidates
  • PDL192 (Humanized Monoclonal Antibody)
Buyer

n/a
Target
  • Humanized Antibody Technology

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 9)
  • DATATRAK International, Inc. (DATA)
  • Novartis AG (ADR) (NVS)
  • Abbott Laboratories (ABT)
  • Genelabs Technologies (GNLB)
Target (Total: 2)
  • Seattle Genetics, Inc. (SGEN)
  • Highland Distressed Opportunities, Inc (HCD)
Buyer (Total: 9)
  • Cardinal Health, Inc. (CAH)
  • McKesson Corporation (MCK)
  • AmerisourceBergen Corp. (ABC)
  • Roche Holding Ltd. (ADR) (RHHBY)
Target (Total: 12)
  • Genentech, Inc. (DNA)
  • AstraZeneca plc (ADR) (AZN)
  • Roche Holding Ltd. (ADR) (RHHBY)
  • Wyeth (WYE)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 2,979 887
Revenue Per Employee 1,845,685.0 348,577.5
Total Revenue 1,371.3 77.3
Total Expenses 677.4 64.3
Other Revenue 0.0 0.0
Cost of Revenue 300.2 0.0
SG&A Expense 189.2 18.5
Research & Development 188.1 44.7
Other Operating Expense 0.0 0.0
Operating Income 693.8 13.1
Unusual Income 0.0 1.0
LT Debt to Capital 23.78 88.93
Fwd P/E 21.60 12.78
Fwd P/Rev 7.54 3.62
Book Value 4,165.9 66.4
Curr Portion of LTD/Cap Lease 6.1 0.8

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 in areas of unmet medical need. The Company has United States and international commercial sales operations, with marketing subsidiaries in Australia, Austria, Canada, France, Germany, Greece, Ireland, Italy, New Zealand, Portugal, Spain, Switzerland, Turkey, the United Kingdom and the United States. Its commercial teams promote Truvada, Viread, Emtriva, Hepsera, AmBisome, Letairis and Flolan through direct field contact with physicians, hospitals, clinics and other healthcare providers. Its corporate partner, Astellas Pharma, Inc. (Astellas), promotes, sells and distributes AmBisome in the United States.In September 2007, it acquired Nycomed Limited, a wholly owned Irish subsidiary of Germany-based pharmaceutical company, Nycomed GmbH.

Target

PDL BioPharma Inc. is a biopharmaceutical company focused on the discovery and development of novel antibodies in oncology and immunologic diseases. It receives royalties and other revenues through licensing agreements with various biotechnology and pharmaceutical companies based on its antibody humanization technology platform. These licensing agreements have contributed to the development by the Company?s licensees of nine marketed products. The Company has several investigational compounds in clinical development for severe or life-threatening diseases, two of which it is developing in collaboration with Biogen Idec MA, Inc. (Biogen Idec). Its products include Daclizumab, Volociximab, HuLuc63, PDL192 and Nuvion. In March 2008, the Company closed the sale of the Cardiovascular Assets, which included Cardene, to EKR Therapeutics, Inc (EKR). However, the Company continues to perform development work for new formulations and presentations of Cardene pursuant to an agreement with EKR.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 79.58 100
Operating Margin % 49.62 23.28
Quick Ratio 2.36 8.11
Current Ratio 3.44 8.34
Coverage Ratio 0.03 0.02
Total Assets 6,974.1 718.2
Return on Equity % 44.28 98.81
Return on Assets % 26.45 9.13
Cash+ ST Inv. Per Share 2 3.63
Total Debt 1,305.9 533.8
Total Debt to Equity % 31.35 804.19
Total Debt to Tangible Equity % 31.35 911.61
Debt to Asset % 18.73 74.32

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.
Immunology
The Immunology Subsector includes therapeutics that treat disorders affecting the immune system.
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
  
Oncology
The Oncology Subsector includes therapeutics that treat and manage various types of cancer and related complications.
Ophthalmology
The Ophthalmology Subsector includes therapeutics that treat eye disorders, infections, inflammations and irritations.
  
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.
  
Outsourced Services  
Drug Discovery Services
The Drug Discovery Services Subsector includes companies that provide biopharmaceutical companies with novel biological targets and drug leads.
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
Healthcare
Biopharmaceuticals
Cardiovascular System  
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:

  • 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:

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

Buyer Products:

  • Flolan (Epoprostenol Sodium)
  
Digestive System
Gastrointestinal Tract Disorders  
Intestinal Disorders  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Monoclonal Antibodies
Therapeutics that treat ulcerative colitis through modulation of immune pathways implicated in the progression of the disease.

Target Products:

  • Nuvion (Visilizumab)
  
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:

  • Viread (Tenofovir Disoproxil Fumarate)
  • Hepsera (Adefovir Dipivoxil)
  
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:

  • LB84451 (Pan-Caspase Inhibitor)
  • Emtriva (Emtricitabine)
  • GS 9190 (HCV Polymerase Inhibitor)
  • Viread (Tenofovir Disoproxil Fumarate)

Target Products:

  • Nuvion (Visilizumab)
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:

  • NS4A Antagonists
  • HCV Protease And Polymerase Inhibitors
  
Immunology
Autoimmune Disorders  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Monoclonal Antibodies
Therapeutics that treat ulcerative colitis through modulation of immune pathways implicated in the progression of the disease.

Target Products:

  • Nuvion (Visilizumab)
  
Immune Deficiency Disorders  
Human Immunodeficiency Virus (HIV)/Acquired Immune Deficiency Syndrome (AIDS)  
Integrase Inhibitors
Therapeutics that help manage HIV by blocking the integration of the HIV virus' genetic material into the host cell.

Buyer Products:

  • Elvitegravir/Formerly GS 9137 (HIV Integrase Inhibitor)
  
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.

Target Products:

  • Nuvion (Visilizumab)
  • Daclizumab (Monoclonal Antibody)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of immune disorders in very early stages of research where no human subject is involved.

Target Products:

  • Therapeutic Antibody Candidates
  
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 9190 (HCV Polymerase Inhibitor)
  • Viread (Tenofovir Disoproxil Fumarate)
  • LB84451 (Pan-Caspase 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:

  • Tamiflu (Oseltamivir)
  • Inhaled Therapeutics
  
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:

  • Hepsera (Adefovir Dipivoxil)
  • Viread (Tenofovir Disoproxil Fumarate)
  • Emtriva (Emtricitabine)
  
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)
  
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)
  
Retrovirus  
Human Immunodeficiency Virus (HIV)/Acquired Immune Deficiency Syndrome (AIDS)  
Integrase inhibitors
Therapeutics that help manage HIV by blocking the integration of the HIV virus' genetic material into the host cell.

Buyer Products:

  • Elvitegravir/Formerly GS 9137 (HIV Integrase Inhibitor)
  
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:

  • Truvada (Tenofovir Disoproxil Fumarate/Emtricitabine)
  • Emtriva (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)
  
Neurology  
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:

  • Daclizumab (Monoclonal Antibody)
  
Oncology
Dermatology  
Kaposi`s Sarcoma  
Topoisomerase II Inhibitors
Therapeutics that treat and manage cancers of spindle cells by inhibiting a specific enzyme needed for transcription and replication of DNA.

Buyer Products:

  • DaunoXome (Liposomal Daunorubicin Injection)
  
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:

  • GS 9219 (Nucleotide Analog)

Target Products:

  • PDL192 (Humanized Monoclonal Antibody)
  • Elotuzumab/Previously HuLuc63 (Anti-CS1 Monoclonal Antibody)
  • Volociximab/M200 (Chimeric Monoclonal Antibody)
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer and are currently in an early research or preclinical stage of development.

Target Products:

  • Therapeutic Antibody Candidates
  
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)
  
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:

  • Inhaled Aztreonam Lysine
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of respiratory disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • GS 9310/11 (Tobramycin And Fosfomycin)

Target Products:

  • Daclizumab (Monoclonal Antibody)
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:

  • P-680 (Epithelial Sodium Channel (ENaC) Inhibitor)
  
Transplantation  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the management of rejection and infection in early stages of clinical research where human subject is involved.

Target Products:

  • Daclizumab (Monoclonal Antibody)
  
Renal (Kidney)  
Rejection Prophylaxis  
Monoclonal Antibodies
Protein-based therapeutics that target specific substances like proteins.

Target Products:

  • Zenapax (Daclizumab)
  
Outsourced Services  
Drug Discovery Services  
Lead Discovery/Validation/Optimization  
Lead Biologics  
Antibodies
Biological lead compounds which have a specific amino acid sequence that only interacts with specific substances to cause an immunological response.

Target Products:

  • Humanized Antibody Technology
  

- 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 93,667.975 13.40 10.67 2.68 2.39 78.84
Genentech, Inc. n/a 81,785.127 26.16 24.31 6.45 6.12 6.82
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a
Buyer
  Johnson & Johnson n/a 158,844.010 12.60 12.86 2.46 2.50 9.26
Roche Holding Ltd. (ADR) n/a 123,605.205 14.77 14.57 3.15 2.87 5.39
Pfizer Inc. n/a 114,090.476 10.81 6.96 2.34 2.31 4.22
Novartis AG (ADR) n/a 106,581.492 14.10 12.04 2.51 2.47 3.62
GlaxoSmithKline plc (ADR) n/a 93,667.975 13.40 10.67 2.68 2.39 78.84
Genentech, Inc. n/a 81,785.127 26.16 24.31 6.45 6.12 6.82
Abbott Laboratories n/a 78,742.790 17.32 15.37 2.73 2.67 26.86
Merck & Co., Inc. n/a 57,167.589 12.61 8.01 2.38 2.35 3.25
AstraZeneca plc (ADR) n/a 56,480.158 9.23 7.88 1.79 1.75 n/a
Bristol Myers Squibb Co. n/a 44,434.739 11.35 12.69 2.14 2.03 6.45
Schering-Plough Corporation n/a 27,467.108 n/a 9.56 1.54 1.39 14.98
Shire Plc. (ADR) n/a 7,984.115 35.20 10.96 2.68 2.57 n/a
Cephalon, Inc. n/a 5,133.420 20.12 15.69 2.72 2.55 14.76
Target
  GlaxoSmithKline plc (ADR) n/a 93,667.975 13.40 10.67 2.68 2.39 78.84
Genentech, Inc. n/a 81,785.127 26.16 24.31 6.45 6.12 6.82
Baxter International Inc. n/a 31,107.783 16.18 15.17 2.54 2.56 5.82
Hospira, Inc. n/a 4,280.381 14.64 11.00 1.17 1.19 17.62
Medarex inc. n/a 610.859 n/a -13.91 11.60 12.46 1.85
Dyax Corp. n/a 207.090 n/a -2.65 6.87 7.62 n/a
Sangamo Biosciences, Inc. n/a 133.183 n/a -4.41 10.99 8.82 2.47
Nuvelo, Inc. n/a 16.099 n/a -0.53 1.06 1.12 0.37
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a

- 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
  DATATRAK International, Inc. 14.00% 2.063 n/a n/a 0.24 n/a n/a
Novartis AG (ADR) n/a 106,581.492 14.10 12.04 2.51 2.47 3.62
Abbott Laboratories n/a 78,742.790 17.32 15.37 2.73 2.67 26.86
Genelabs Technologies n/a 56.605 n/a -3.33 4.97 7.61 2.35
Monogram Biosciences, Inc. n/a 45.471 n/a -1.72 0.75 0.65 n/a
Achillion Pharmaceuticals, Inc. n/a 26.380 n/a -0.74 18.29 19.54 0.80
Parion Sciences, Inc. n/a n/a n/a n/a n/a n/a n/a
Emory University n/a n/a n/a n/a n/a n/a n/a
The University of Texas n/a n/a n/a n/a n/a n/a n/a
Target
  Seattle Genetics, Inc. n/a 678.890 n/a -8.12 20.57 19.43 6.42
Highland Distressed Opportunities, Inc n/a 20.374 n/a 1.89 0.70 1.80 0.17

- 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
  Cardinal Health, Inc. 20.00% 11,701.788 9.38 8.59 0.13 0.12 7.08
McKesson Corporation 15.00% 9,990.133 9.34 8.83 0.09 0.10 3.82
AmerisourceBergen Corp. 11.00% 5,164.594 20.61 10.17 0.07 0.07 n/a
Roche Holding Ltd. (ADR) 10.00% 123,605.205 14.77 14.57 3.15 2.87 5.39
Buyer
  Cardinal Health, Inc. 20.00% 11,701.788 9.38 8.59 0.13 0.12 7.08
McKesson Corporation 15.00% 9,990.133 9.34 8.83 0.09 0.10 3.82
AmerisourceBergen Corp. 11.00% 5,164.594 20.61 10.17 0.07 0.07 n/a
Roche Holding Ltd. (ADR) 10.00% 123,605.205 14.77 14.57 3.15 2.87 5.39
GlaxoSmithKline plc (ADR) n/a 93,667.975 13.40 10.67 2.68 2.39 78.84
OSI Pharmaceuticals, Inc. n/a 1,924.806 16.07 15.19 5.27 4.97 12.08
XenoPort, Inc. n/a 513.317 n/a -7.46 8.98 12.75 5.40
Rexahn Pharmaceuticals, Inc. n/a 52.104 n/a n/a 715.38 n/a 12.25
Sumitomo Corporation n/a n/a n/a n/a n/a n/a n/a
Target
  Genentech, Inc. 68.00% 81,785.127 26.16 24.31 6.45 6.12 6.82
AstraZeneca plc (ADR) 14.00% 56,480.158 9.23 7.88 1.79 1.75 n/a
Roche Holding Ltd. (ADR) n/a 123,605.205 14.77 14.57 3.15 2.87 5.39
Wyeth n/a 47,933.530 10.71 10.04 2.06 2.03 3.20
Bristol Myers Squibb Co. n/a 44,434.739 11.35 12.69 2.14 2.03 6.45
Biogen Idec Inc. n/a 13,712.382 17.66 13.24 3.50 3.36 5.76
Cardinal Health, Inc. n/a 11,701.788 9.38 8.59 0.13 0.12 7.08
McKesson Corporation n/a 9,990.133 9.34 8.83 0.09 0.10 3.82
AmerisourceBergen Corp. n/a 5,164.594 20.61 10.17 0.07 0.07 n/a
Elan Corporation, plc (ADR) n/a 3,413.400 n/a -12.37 3.60 3.09 n/a
Seattle Genetics, Inc. n/a 678.890 n/a -8.12 20.57 19.43 6.42
Progenics Pharmaceuticals, Inc. n/a 259.793 n/a -7.00 3.40 2.94 2.03

- 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
  Roche Holding Ltd. (ADR) n/a 123,605.205 14.77 14.57 3.15 2.87 5.39
Bristol Myers Squibb Co. n/a 44,434.739 11.35 12.69 2.14 2.03 6.45
Cardinal Health, Inc. n/a 11,701.788 9.38 8.59 0.13 0.12 7.08
Buyer
  Roche Holding Ltd. (ADR) n/a 123,605.205 14.77 14.57 3.15 2.87 5.39
Pfizer Inc. n/a 114,090.476 10.81 6.96 2.34 2.31 4.22
Novartis AG (ADR) n/a 106,581.492 14.10 12.04 2.51 2.47 3.62
GlaxoSmithKline plc (ADR) n/a 93,667.975 13.40 10.67 2.68 2.39 78.84
Abbott Laboratories n/a 78,742.790 17.32 15.37 2.73 2.67 26.86
Merck & Co., Inc. n/a 57,167.589 12.61 8.01 2.38 2.35 3.25
Bristol Myers Squibb Co. n/a 44,434.739 11.35 12.69 2.14 2.03 6.45
Cardinal Health, Inc. n/a 11,701.788 9.38 8.59 0.13 0.12 7.08
McKesson Corporation n/a 9,990.133 9.34 8.83 0.09 0.10 3.82
AmerisourceBergen Corp. n/a 5,164.594 20.61 10.17 0.07 0.07 n/a
Target
  Roche Holding Ltd. (ADR) n/a 123,605.205 14.77 14.57 3.15 2.87 5.39
Genentech, Inc. n/a 81,785.127 26.16 24.31 6.45 6.12 6.82
Wyeth n/a 47,933.530 10.71 10.04 2.06 2.03 3.20
Bristol Myers Squibb Co. n/a 44,434.739 11.35 12.69 2.14 2.03 6.45
Eli Lilly & Co. n/a 41,396.458 17.16 8.88 2.03 1.97 3.62
Biogen Idec Inc. n/a 13,712.382 17.66 13.24 3.50 3.36 5.76
Cardinal Health, Inc. n/a 11,701.788 9.38 8.59 0.13 0.12 7.08
Elan Corporation, plc (ADR) n/a 3,413.400 n/a -12.37 3.60 3.09 n/a
Seattle Genetics, Inc. n/a 678.890 n/a -8.12 20.57 19.43 6.42
Exelixis, Inc. n/a 522.719 n/a -2.38 4.45 3.34 n/a
Progenics Pharmaceuticals, Inc. n/a 259.793 n/a -7.00 3.40 2.94 2.03
Pierre Fabre Medicament 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 5,002.3 296.3 5,298.6
Other Revenue 0.0 0.0 0.0
Total Revenue 5,002.3 296.3 5,298.6
Cost of Revenue 1,021.3 0.0 1,021.3
SG&A Expense 783.7 77.7 861.5
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 704.6 185.2 889.7
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 -49.7 -49.7
Unusual Expense (Income) 10.9 14.1 25.0
Total Expenses 2,520.4 227.3 2,747.7
Operating Income 2,481.9 69.0 2,550.9
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 66.1 1.2 67.2
Other, Net 0.0 0.0 0.0
Income Before Taxes 2,548.0 70.2 2,618.1
Income Taxes 703.4 4.6 707.9
Income After Taxes 1,844.6 65.6 1,910.2
Net Income - Excl. Xord. Items 1,844.6 65.6 1,910.2
Discontinued Operations 0.0 -53.4 -53.4
Net Income - Incl. Xord. Items 1,844.6 12.2 1,856.8
Income Avail. to Common 1,844.6 12.2 1,856.8
Share Items
Basic Avg. Shares Outstanding 920.8 119.3 1,040.1
Basic EPS - Excl. Xord. Items 2.00 0.55 1.84
Basic EPS - Incl. Xord. Items 2.00 0.10 1.79
Full Dilution Adjustment 0.0 2.3 2.3
Fully Diluted Shares Outstanding 960.6 152.8 1,113.4
F.D. EPS - Excl. Xord. Items 1.92 0.43 1.72
F.D. EPS - Incl. Xord. Items 1.92 0.08 1.67
Balance Sheet
Assets
Cash and Equivalents 1,209.4 555.3 1,764.7
ST Investments 709.9 0.0 709.9
Accounts Receivable 1,047.2 0.0 1,047.2
Inventory 897.6 0.0 897.6
Prepayments and Advances 221.0 0.0 221.0
Other Current Assets 241.6 16.4 257.9
Current Assets 4,326.7 571.7 4,898.4
Accum D&A 0.0 0.0 0.0
PPE, Net 512.3 127.3 639.6
Goodwill & Intangibles 0.0 7.8 7.8
Long Term Investments 1,337.0 0.0 1,337.0
Other Assets 0.0 0.0 0.0
Other LT Assets 798.2 11.5 809.7
Total Assets 6,974.1 718.2 7,692.4
Liabilities
Accounts Payable 631.5 3.5 635.0
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 491.3 52.1 543.4
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 6.1 0.8 6.9
Other (Current) Liabilities 130.2 12.2 142.4
Current Liab. 1,259.1 68.5 1,327.6
LT Debt 1,299.9 532.9 1,832.8
Total LT Debt 1,299.9 532.9 1,832.8
Minority Interest (BS) 127.6 0.0 127.6
Other LT Liab. 121.6 50.4 172.0
Total Liabilities 2,808.2 651.9 3,460.1
Shareholders Equity
Common Stock 0.9 1.2 2.1
Additional Paid in Capital 3,616.8 629.3 4,246.1
Retained Earnings 531.0 -563.6 -32.6
Other Equity 17.2 -0.5 16.7
Total Equity 4,165.9 66.4 4,232.3
Total Liab. & Equity 6,974.1 718.2 7,692.4
Shares Outstanding 920.7 119.3 1,040.0
Cash Flow
Operating Cash Flow
CF Net Income 1,844.6 12.2 1,856.8
CF Depreciation 48.2 26.2 74.4
CF Amortization 36.9 7.2 44.1
CF Deferred Taxes 73.5 -0.3 73.3
Other Non-Cash Items 180.7 38.0 218.7
Change in Working Capital -113.4 33.8 -79.6
Total Cash From Operating Activities 2,070.6 117.1 2,187.7
Investing Cash Flow (not calculated)
Capital Expenditures -92.7 -15.1 -107.8
Other Investing Cash Flows -454.7 723.1 268.4
Total Cash From Investing Activities -547.4 708.0 160.6
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock -1,015.2 20.6 -994.7
Purchase and Retirement of Debt -3.8 -6.1 -10.0
Other Financing Cash Flow 146.7 -494.2 -347.5
Total Cash From Financing Activities -872.3 -479.8 -1,352.1
Exchange Rate Effects -25.6 0.0 -25.6
Net Change in Cash 625.3 345.3 970.6
Cash Taxes Paid 565.2 0.2 565.3
Cash Interest Paid 7.5 12.4 19.9