Summary

Other Scenarios:

Buyer: Amgen, Inc. (AMGN) Last Price: 44.18 Market Cap.: 48.05B
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

- 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.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 33)
  • CK-1827452 (Cardiac Myosin Activator)
  • Enbrel/Enbrel Once-Weekly (Etanercept)
  • AMG 714 (Interleukin-15)
  • Kepivance (Palifermin)
Target (Total: 5)
  • Innohep (Tinzaparin Sodium)
  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Oral Azacitidine
  • Vidaza (Azacitidine)
Buyer

n/a
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 30)
  • NPS Pharmaceuticals, Inc. (NPSP)
  • Bioject Medical Technologies Inc. (BJCT)
  • Starlims Technologies Limited (LIMS)
  • Infinity Pharmaceuticals Inc. (INFI)
Target (Total: 6)
  • GPC Biotech AG (ADR) (GPCB)
  • Celgene Corporation (CELG)
  • salesforce.com, inc. (CRM)
  • MethylGene Inc. (MYG:CA)
Buyer (Total: 11)
  • AmerisourceBergen Corp. (ABC)
  • Cardinal Health, Inc. (CAH)
  • McKesson Corporation (MCK)
  • Johnson & Johnson (JNJ)
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 17,500 513
Revenue Per Employee 858,351.6 558,770.6
Total Revenue 3,745.0 71.5
Total Expenses 2,688.0 102.6
Other Revenue 0.0 0.0
Cost of Revenue 606.0 19.7
SG&A Expense 1,001.0 50.0
Research & Development 822.0 30.4
Other Operating Expense 185.0 0.0
Operating Income 1,057.0 -31.2
Unusual Income 0.0 0.0
LT Debt to Capital 33.93 0
Fwd P/E 10.82 -395.28
Fwd P/Rev 3.28 7.21
Book Value 17,869.0 358.9
Curr Portion of LTD/Cap Lease 2,000.0 0.0

Individual Company Summary

Focused

Buyer

Focused (): Healthcare > Biopharmaceuticals > Hematology

Target

Focused (): Healthcare > Biopharmaceuticals > Oncology

Business Description

Buyer

Amgen Inc. is a biotechnology company that discovers, develops, manufactures and markets human therapeutics-based on advances in cellular and molecular biology. The Company operates in human therapeutics. It markets human therapeutic products in the areas of supportive cancer care, nephrology, inflammation and oncology. Its principal products include Aranesp (darbepoetin alfa), EPOGEN (Epoetin alfa), Neulasta (pegfilgrastim), NEUPOGEN (Filgrastim) and Enbrel (etanercept). Aranesp and EPOGEN stimulate the production of red blood cells to treat anemia and belong to a class of drugs referred to as erythropoiesis-stimulating agents (ESAs). Other marketed products principally consists of Sensipar (cinacalcet HCl) and Vectibix (panitumumab). On July 16, 2007, the Company acquired Alantos Pharmaceuticals Holding, Inc.

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 % 82.75 72.66
Operating Margin % 26.94 -25.91
Quick Ratio 1.5 3.64
Current Ratio 2.11 4
Coverage Ratio -0 -0.15
Total Assets 34,639.0 443.3
Return on Equity % 17.72 -17.79
Return on Assets % 9.14 -14.4
Cash+ ST Inv. Per Share 6.55 6.67
Total Debt 11,177.0 0.0
Total Debt to Equity % 62.55 0
Total Debt to Tangible Equity % 339.01 0
Debt to Asset % 32.27 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.
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.
  
Musculoskeletal System
The Musculoskeletal System Subsector includes therapeutics that treat disorders of the bones, joints, ligaments, tendons, and soft tissue involved with them.
  
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.
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.
  

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

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

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

Product Details

Sector Buyer Target
Healthcare
Biopharmaceuticals
Cardiovascular System
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of heart and circulatory system disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • CK-1827452 (Cardiac Myosin Activator)
  
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)
  
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)
  
Dermatology  
Lesion/Scaling Disorders  
Psoriasis  
Tumor Necrosis Factor-Alpha Antagonists (TNF-Alpha Antagonists)
Therapeutics that treat psoriasis by blocking the action of tumor necrosis factor.

Buyer Products:

  • Enbrel/Enbrel Once-Weekly (Etanercept)
  
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.

Buyer Products:

  • AMG 714 (Interleukin-15)
  
Digestive System  
Gastrointestinal Tract Disorders  
Stomatognathic Disorders  
Mucositis  
Keratinocyte Growth Factor (KGF)
Therapeutics that treat mucositis by promoting the growth of keratinocytes, which are cells found in the epidermis or outer layer of skin.

Buyer Products:

  • Kepivance (Palifermin)
  
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:

  • AMG 220
  
Endocrinology/Metabolism  
Parathyroid Gland Disorders  
Hyperparathyroidism (HPT)  
Calcimimetic Agents
Therapeutics that treat hyperparathyroidism by decreasing parathyroid hormone levels, which may provide effective reduction of calcium levels.

Buyer Products:

  • Sensipar (Cinacalcet Hydrochloride)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of endocrinology disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • AMG 837
  • Sensipar (Cinacalcet Hydrochloride)
  • ALS 2-0426 (DPP-IV Inhibitor)
  • AMG 221
  
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.

Buyer Products:

  • Nplate (Romiplostim)
  • AMG 623
  • ILY101

Target Products:

  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Oral Azacitidine
Red Blood Cell (RBC) Disorders  
Anemia  
Recombinant Human Erythropoietins
Therapeutics that treat conditions characterized by reduced delivery of oxygen to body tissues by stimulating red blood cell production.

Buyer Products:

  • Aranesp (Darbepoetin Alfa)/Aranesp Prefilled SureClick
  • Epogen (Epoetin Alfa)
  
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)
  
Neutropenia  
Colony Stimulating Factors (CSF)  
Granulocyte (rhG-CSF)
Therapeutics that treat neutropenia by inducing the maturation and proliferation of white blood cells.

Buyer Products:

  • Neupogen (Filgrastim)
  • Neulasta (Pegylated Filgrastim)
  
Immunology  
Autoimmune Disorders  
Arthritis  
Psoriatic Arthritis  
Tumor Necrosis Factor-Alpha Antagonists (TNF-Alpha Antagonists)
Therapeutics that treat chronic inflammation of the joints coupled with red, scaly skin patches by blocking the action of tumor necrosis factor.

Buyer Products:

  • Enbrel/Enbrel Once-Weekly (Etanercept)
  
Rheumatoid Arthritis (RA)  
Immunotherapy  
Interleukin-1 Receptor Antagonists (IL-1 Antagonists)
Therapeutics that treat chronic inflammation of the joints caused by an autoimmune mechanism by blocking the action of Interleukin-1.

Buyer Products:

  • Kineret (Anakinra)
  
Tumor Necrosis Factor-Alpha Antagonists (TNF-Alpha Antagonists)
Therapeutics that treat chronic inflammation of the joints by blocking the action of tumor necrosis factor.

Buyer Products:

  • Enbrel/Enbrel Once-Weekly (Etanercept)
  
Idiopathic Thrombocytopenia Purpura (ITP)  
Platelet Growth Factors
Therapeutics that treat a decrease in platelets by promoting platelet production.

Buyer Products:

  • Nplate (Romiplostim)
  
Psoriasis  
Tumor Necrosis Factor-Alpha Antagonists (TNF-Alpha Antagonists)
Therapeutics that treat psoriasis by blocking the action of tumor necrosis factor.

Buyer Products:

  • Enbrel/Enbrel Once-Weekly (Etanercept)
  
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:

  • AMG 220
  • AMG 557
  • Denosumab
  • AMG 623
  • AMG 714 (Interleukin-15)
  • Avimer Proteins (Interleukin-6 Inhibitor)
  • AMG 108
  
Musculoskeletal System  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of skeletal system disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Denosumab
  • AMG 745
  • Sclerostin Ab
  • AMG 108
  
Skeletal Disorders  
Bone Disorders  
Osteoporosis  
Receptor Activator Of Nuclear Factor-kB Ligand (RANKL) Inhibitors  
Joint Disorders  
Ankylosing Spondylitis  
Tumor Necrosis Factor-Alpha Antagonists (TNF-Alpha Antagonists)
Therapeutics that treat ankylosing spondylitis by blocking the effect of TNF-alpha, a pro-inflammatory molecule.

Buyer Products:

  • Enbrel/Enbrel Once-Weekly (Etanercept)
  
Psoriatic Arthritis  
Tumor Necrosis Factor-Alpha Antagonists (TNF-Alpha Antagonists)
Therapeutics that treat chronic inflammation of the joints by blocking the action of tumor necrosis factor.

Buyer Products:

  • Enbrel/Enbrel Once-Weekly (Etanercept)
  
Rheumatoid Arthritis (RA)  
Immunotherapy  
Interleukin-1 Receptor Antagonists (IL-1 Antagonists)
Therapeutics that treat chronic inflammation of the joints caused by an autoimmune mechanism by blocking the action of Interleukin-1.

Buyer Products:

  • Kineret (Anakinra)
  
Tumor Necrosis Factor-Alpha Antagonists (TNF-Alpha Antagonists)
Therapeutics that treat chronic inflammation of the joints by blocking the action of tumor necrosis factor.

Buyer Products:

  • Enbrel/Enbrel Once-Weekly (Etanercept)
  
Oncology
Breast Cancer  
Localized  
Recombinant Human Erythropoietins
Therapeutics that help to treat breast cancers by increasing the delivery of oxygen to body tissues through stimulating red blood cell production.

Buyer Products:

  • Aranesp (Darbepoetin Alfa)/Aranesp Prefilled SureClick
  
Metastatic  
Receptor Activator Of Nuclear Factor-kB Ligand (RANKL) Inhibitors  
Digestive System  
Colon Cancer/Colorectal Cancer  
Metastatic  
Monoclonal Antibodies
Therapeutics that treat colorectal cancer by binding to specific structures on the surface of the tumor and eliciting a reaction, which results in tumor degeneration.

Buyer Products:

  • Vectibix (Panitumumab)
  
Endocrinology  
Parathyroid Gland  
Palliative Agents  
Calcimimetic Agents
Therapeutics that treat hypercalcemia (elevated calcium levels in the blood) by decreasing parathyroid hormone levels.

Buyer Products:

  • Sensipar (Cinacalcet Hydrochloride)
  
Head/Neck Cancer  
Metastatic  
Monoclonal Antibodies
Therapeutics that treat head/neck cancer by binding to specific structures on the surface of the tumor and eliciting a reaction, which results in tumor degeneration.

Buyer Products:

  • Vectibix (Panitumumab)
  
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:

  • Denosumab
  • AMG 655
  • AMG 479
  • Vectibix (Panitumumab)
  • Apo2L/TRAIL (PRO1762)
  • AMG 706 (Motesanib Diphosphate)
  • AMG 386
  • AMG 102

Target Products:

  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Vidaza (Azacitidine)
  • Oral Azacitidine
Respiratory System/Thoracic
Lung Cancer
Non Small Cell Lung Cancer (NSCLC)  
VEGFR/PDGFR/SCFR Inhibitors
Therapeutics that treat lung cancer by binding to the vascular endothelial growth factor receptor (VEGFR), the platelet-derived growth factor receptor (PDGFR), and the stem-cell factor receptor (SCFR), which then inhibits the formation of blood vessels around tumor cells.

Buyer Products:

  • AMG 706 (Motesanib Diphosphate)
  
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)
  
Urology  
Prostate Cancer  
Metastatic  
Receptor Activator Of Nuclear Factor-kB Ligand (RANKL) Inhibitors  
Pain Management  
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:

  • AMG 403
  • AMG 379
  
Respiratory System  
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:

  • AMG 317
  
Surgery
General  
Complications  
Hemorrhage  
Recombinant Human Erythropoietins
Therapeutics that are used for blood transfusions.

Buyer Products:

  • Epogen (Epoetin Alfa)
  
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)
  
Transplantation  
Bone Marrow  
Complications  
Neutropenia  
Colony Stimulating Factors (CSF)  
Granulocyte (rhG-CSF)
Therapeutics containing biological proteins that stimulate the formation of certain white blood cells called granulocytes.

Buyer Products:

  • Neupogen (Filgrastim)
  
Peripheral Blood Progenitor Cell Transplant (PBPCT)  
Preparation  
Colony Stimulating Factors (CSF)  
Granulocyte (rhG-CSF)
Therapeutics that stimulate the formation of granulocytes in preparation for peripheral blood progenitor cell transplantation.

Buyer Products:

  • Neupogen (Filgrastim)
  
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.

Buyer Products:

  • Sensipar (Cinacalcet Hydrochloride)
  • ILY101
  
Urological Disorders  
Kidney (Renal)  
Chronic Renal Failure (CRF)  
Complications  
Anemia  
Recombinant Human Erythropoietins
Therapeutics that treat the condition resulting from the scarcity of red blood cells by inducing the production of red blood cells.

Buyer Products:

  • Epogen (Epoetin Alfa)
  • Aranesp (Darbepoetin Alfa)/Aranesp Prefilled SureClick
  
Hyperparathyroidism  
Calcimimetic Agents
Therapeutics that treat hyperparathyroidism by decreasing parathyroid hormone levels, which may provide effective reduction of calcium levels.

Buyer Products:

  • Sensipar (Cinacalcet Hydrochloride)
  
Renal Insufficiency  
Complications  
Hyperparathyroidism  
Calcimimetic Agents
Therapeutics that treat hyperparathyroidism by decreasing parathyroid hormone levels, which may provide effective reduction of calcium levels.

Buyer Products:

  • Sensipar (Cinacalcet Hydrochloride)
  

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

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

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

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Pfizer Inc. n/a 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
Vion Pharmaceuticals, Inc. n/a 25.897 0.00 -0.71 1,194.74 n/a 3.14
Buyer
  Johnson & Johnson n/a 174,233.403 16.47 14.11 2.85 2.79 11.97
Roche Holding Ltd. (ADR) n/a 162,161.754 18.24 19.03 3.86 3.93 5.53
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
Novartis AG (ADR) n/a 108,444.656 9.08 13.48 2.78 2.71 3.88
sanofi-aventis (ADR) n/a 98,531.811 16.69 9.14 2.25 2.40 n/a
Merck & Co., Inc. n/a 90,400.858 27.60 12.73 3.74 3.70 5.64
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
  NPS Pharmaceuticals, Inc. 65.80% 179.835 0.00 -25.67 2.36 2.23 n/a
Bioject Medical Technologies Inc. 24.00% 8.644 0.00 n/a 0.86 n/a 3.72
Starlims Technologies Limited 18.00% 67.878 15.05 12.55 2.86 2.47 1.60
Infinity Pharmaceuticals Inc. 14.00% 137.827 0.00 -3.99 5.62 5.53 2.69
Alexandria Real Estate Equities, Inc. 1.80% 2,801.004 35.50 14.32 6.91 6.19 1.86
Genentech, Inc. n/a 83,607.511 30.19 25.16 7.13 6.43 9.13
WPP Group plc (ADR) n/a 13,753.305 15.91 12.15 1.18 0.52 n/a
Agilent Technologies Inc. n/a 11,065.760 18.20 16.47 2.00 1.90 4.74
Digital Realty Trust, Inc. n/a 2,191.109 103.07 13.99 5.54 4.31 2.10
Bright Horizons Family Solutions, Inc. n/a 1,174.178 30.00 22.86 1.52 1.39 13.99
Medarex, Inc. n/a 1,097.420 0.00 -5.92 19.50 21.35 2.46
Human Genome Sciences n/a 694.519 0.00 -4.65 16.59 4.25 n/a
Nektar Therapeutics n/a 578.863 0.00 -7.11 2.12 6.83 4.34
Sangamo Biosciences, Inc. n/a 465.438 0.00 -19.24 51.15 32.67 6.62
Dendreon Corporation n/a 413.546 0.00 -4.44 513.87 510.26 6.40
Pegasystems Inc. n/a 351.876 40.92 n/a 2.33 n/a 2.15
Hill International Inc. n/a 347.427 29.56 26.62 1.28 1.21 11.82
Dyax Corp. n/a 276.699 0.00 -6.03 10.60 5.83 9.69
Caliper Life Sciences Inc. n/a 182.075 0.00 -18.10 1.29 1.25 10.41
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
  Cardinal Health, Inc. 13.00% 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation 13.00% 16,575.105 17.63 17.42 0.17 0.16 5.60
Buyer
  AmerisourceBergen Corp. 35.00% 6,687.985 14.64 14.03 0.10 0.10 n/a
Cardinal Health, Inc. 13.00% 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation 13.00% 16,575.105 17.63 17.42 0.17 0.16 5.60
Johnson & Johnson n/a 174,233.403 16.47 14.11 2.85 2.79 11.97
Fresenius Medical Care AG & Co. (ADR) n/a 15,371.297 21.43 19.32 1.58 1.47 n/a
DaVita Inc. n/a 4,943.622 12.95 14.08 0.94 0.92 n/a
InterMune, Inc. n/a 542.952 0.00 -5.68 8.14 12.89 n/a
Progenics Pharmaceuticals, Inc. n/a 416.520 0.00 -10.00 5.08 5.73 2.64
Nuvelo, Inc. n/a 80.617 0.00 -1.49 1.72 256.68 n/a
Dialysis Corporation of America n/a 73.334 23.03 21.28 1.01 0.98 3.25
Memory Pharmaceuticals Corp. n/a 46.854 0.00 -1.50 3.58 3.21 2.71
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
Overlap
  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
Buyer
  Johnson & Johnson n/a 174,233.403 16.47 14.11 2.85 2.79 11.97
Roche Holding Ltd. (ADR) n/a 162,161.754 18.24 19.03 3.86 3.93 5.53
Genentech, Inc. n/a 83,607.511 30.19 25.16 7.13 6.43 9.13
Wyeth n/a 55,284.879 11.98 12.11 2.47 2.48 4.04
AstraZeneca plc (ADR) n/a 54,545.064 9.47 8.41 1.91 1.77 n/a
Alcon, Inc. n/a 40,206.352 25.34 21.89 7.18 6.56 15.12
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
Kirin Holdings Company, Ltd. (ADR) n/a 16,526.365 35.67 30.52 1.08 0.97 2.66
Fresenius Medical Care AG & Co. (ADR) n/a 15,371.297 21.43 19.32 1.58 1.47 n/a
AmerisourceBergen Corp. n/a 6,687.985 14.64 14.03 0.10 0.10 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 14,771.0 267.3 15,038.3
Other Revenue 0.0 0.0 0.0
Total Revenue 14,771.0 267.3 15,038.3
Cost of Revenue 2,548.0 73.1 2,621.1
SG&A Expense 3,361.0 143.2 3,504.2
Depreciation & Amortization 298.0 9.9 307.9
Research & Development 3,266.0 102.4 3,368.4
Interest Expense 0.0 0.0 0.0
Other Operating Expense 728.0 0.0 728.0
Unusual Expense (Income) 590.0 8.0 598.0
Total Expenses 10,791.0 336.5 11,127.5
Operating Income 3,980.0 -69.2 3,910.8
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -19.0 10.2 -8.8
Other, Net 0.0 0.0 0.0
Income Before Taxes 3,961.0 -59.1 3,901.9
Income Taxes 795.0 4.8 799.8
Income After Taxes 3,166.0 -63.9 3,102.1
Net Income - Excl. Xord. Items 3,166.0 -63.9 3,102.1
Net Income - Incl. Xord. Items 3,166.0 -63.9 3,102.1
Income Avail. to Common 3,166.0 -63.9 3,102.1
Share Items
Basic Avg. Shares Outstanding 1,087.0 37.3 1,124.3
Basic EPS - Excl. Xord. Items 2.91 n/a 2.76
Basic EPS - Incl. Xord. Items 2.91 n/a 2.76
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 1,092.0 37.3 1,129.3
F.D. EPS - Excl. Xord. Items 2.90 n/a 2.75
F.D. EPS - Incl. Xord. Items 2.90 n/a 2.75
Balance Sheet
Assets
Cash and Equivalents 2,024.0 178.9 2,202.9
ST Investments 5,127.0 69.7 5,196.7
Accounts Receivable 2,101.0 45.0 2,146.0
Inventory 2,091.0 12.8 2,103.8
Prepayments and Advances 0.0 2.8 2.8
Other Current Assets 1,698.0 13.6 1,711.6
Current Assets 13,041.0 322.8 13,363.8
Accum D&A 0.0 0.0 0.0
PPE, Net 5,941.0 11.4 5,952.4
Goodwill & Intangibles 14,572.0 103.1 14,675.1
Other Assets 0.0 0.0 0.0
Other LT Assets 1,085.0 6.0 1,091.0
Total Assets 34,639.0 443.3 35,082.3
Liabilities
Accounts Payable 378.0 14.3 392.3
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 3,801.0 66.3 3,867.3
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 2,000.0 0.0 2,000.0
Other (Current) Liabilities 0.0 0.0 0.0
Current Liab. 6,179.0 80.6 6,259.6
LT Debt 9,177.0 0.0 9,177.0
Total LT Debt 9,177.0 0.0 9,177.0
Deferred Taxes 480.0 2.7 482.7
Other LT Liab. 934.0 1.1 935.1
Total Liabilities 16,770.0 84.4 16,854.4
Shareholders Equity
Common Stock 0.0 0.0 0.0
Additional Paid in Capital 24,976.0 631.7 25,607.7
Retained Earnings -7,160.0 -290.7 -7,450.7
Other Equity 53.0 17.9 70.9
Total Equity 17,869.0 358.9 18,227.9
Total Liab. & Equity 34,639.0 443.3 35,082.3
Shares Outstanding 1,087.0 37.4 1,124.4
Cash Flow
Operating Cash Flow
CF Net Income 3,166.0 -63.9 3,102.1
CF Depreciation 1,202.0 12.6 1,214.6
CF Deferred Taxes 136.0 0.0 136.0
Other Non-Cash Items 1,338.0 3.2 1,341.2
Change in Working Capital -441.0 24.5 -416.5
Total Cash From Operating Activities 5,401.0 -23.5 5,377.5
Investing Cash Flow (not calculated)
Capital Expenditures -1,267.0 -6.7 -1,273.7
Other Investing Cash Flows -725.0 8.6 -716.4
Total Cash From Investing Activities -1,992.0 1.8 -1,990.2
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock -4,823.0 138.0 -4,685.0
Purchase and Retirement of Debt 2,142.0 -0.9 2,141.1
Other Financing Cash Flow 13.0 0.4 13.4
Total Cash From Financing Activities -2,668.0 137.5 -2,530.5
Exchange Rate Effects 0.0 3.2 3.2
Net Change in Cash 741.0 119.0 860.0
Cash Taxes Paid 895.0 3.0 898.0
Cash Interest Paid 258.0 0.2 258.2