Summary

Other Scenarios:

Buyer: Andrx Corporation (ADRX) Last Price: 24.54 Market Cap.: 1.81B
Target: Adams Respiratory Therapeutics, Inc. (ARXT) Last Price: 43.01 Market Cap.: 1.51B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 872
Biopharmaceuticals 329
Healthcare Services   158
Nutritional Health   22
Outsourced Services   66

- 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: 67)
  • Andrx Pharmaceuticals Loratadine Rapidly-Disintegrating Tablet
  • Andrx Pharmaceuticals Loratadine/Pseudoephedrine Sulfate
  • Andrx Pharmaceuticals Loratadine/Pseudoephedrine Extended Release
  • Andrx Pharmaceuticals Metoprolol Succinate
Target (Total: 8)
  • Erdosteine
  • Delsym (Dextromethorphan Polistirex)
  • Maximum Strength DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
  • Mucinex DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
Buyer
  • Anda, Inc.
  • Value In Pharmaceuticals (VIP)/Valmed Pharmaceuticals
  • Andrx Corp.
  • Armstrong Pharmaceuticals, Inc.
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 7)
  • Johnson & Johnson (JNJ)
  • Pfizer Inc. (PFE)
  • Novartis AG (ADR) (NVS)
  • Tyco International Ltd. (TYC)
Target (Total: 3)
  • Cardinal Health, Inc. (CAH)
  • UCB S.A.
  • Boehringer Ingelheim GmbH
Buyer (Total: 4)
  • Tyco International Ltd. (TYC)
  • Teva Pharmaceutical Industries Ltd (ADR) (TEVA)
  • Sciele Pharma Inc. (SCRX)
  • Impax Laboratories Inc. (IPXL)
Target (Total: 4)
  • Wal-Mart Stores, Inc. (WMT)
  • Walgreen Company (WAG)
  • CVS Corporation (CVS)
  • McKesson Corporation (MCK)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 1,680 496
Revenue Per Employee 608,216.4 1,009,222.0
Total Revenue 254.8 52.8
Total Expenses 257.1 41.9
Other Revenue 0.0 0.0
Cost of Revenue 203.1 10.8
SG&A Expense 41.0 25.0
Research & Development 13.0 7.5
Other Operating Expense 0.0 0.0
Operating Income -2.4 11.0
Unusual Income 0.0 0.0
LT Debt to Capital 0 0
Fwd P/E 45.44 24.07
Fwd P/Rev 1.67 4.12
Book Value 771.9 222.3
Curr Portion of LTD/Cap Lease 0.0 0.0

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Biopharmaceuticals

Target

Focused (): *Healthcare > Biopharmaceuticals > Respiratory System > Upper Respiratory Tract Disorders > Coughs/Colds

Business Description

Buyer

Andrx Corporation is a pharmaceutical company that operates in four segments. The Distributed Products segment distributes primarily generic pharmaceuticals manufactured largely by others, as well as by Andrx, from its Weston, Florida and Groveport, Ohio distribution facilities. Through the Generic Products segment, the Company researches, develops, manufactures and sells generic versions of selected controlled-release pharmaceuticals, utilizing its drug delivery technologies, as well as generic versions of immediate-release and oral contraceptive products, primarily to a limited number of large pharmaceutical wholesalers and warehousing pharmacy chains. Through the Brand Products segment, the Company develops and commercializes brand name pharmaceuticals, in many cases, using its controlled-release drug delivery technologies. The Contract Services segment is pursuing the development and manufacture of pharmaceutical products for other pharmaceutical companies.

Target

Adams Respiratory Therapeutics, Inc. is a specialty pharmaceutical company focused on late-stage development, commercialization and marketing of over-the-counter (OTC) and prescription pharmaceuticals for the treatment of respiratory disorders. The Company markets three OTC products under its Mucinex brand, one product under its Humibid brand, two products under Delsym brand and four products under Children's Mucinex line of products. In June 2006, the Company acquired the United States marketing and sales rights to Delsym from UCB, Inc. (UCB). Delsym is an OTC 12-hour liquid cough suppressant.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 21.01 79.36
Operating Margin % -0.23 31.85
Quick Ratio 2.15 2.84
Current Ratio 3.79 3.52
Coverage Ratio -7.61 0
Total Assets 1,120.2 252.6
Return on Equity % 1.11 20.85
Return on Assets % 0.76 18.35
Cash+ ST Inv. Per Share 4.15 1.52
Total Debt 0.0 0.0
Total Debt to Equity % 0 0
Total Debt to Tangible Equity % 0 0
Debt to Asset % 0.00 0.00

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals
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.
  
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.
  
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.
Toxicology
The Toxicology Subsector includes therapeutics that treat harmful effects from exposure to toxic substances; narcotics, nicotine and alcohol withdrawal therapeutics are also included in this sector.
  
Healthcare Services  
Distributors
The Distributors Subsector comprises of companies that distribute a wide variety of healthcare products, equipment and supplies to healthcare service providers and institutions.
  
Nutritional Health  
Dietary/Naturopathic Supplements
The Dietary/Naturopathic Subsector includes nutritional biochemicals and nutrients derived from natural sources that are intended to support health.
  
Outsourced Services  
Development/Manufacturing Services
The Development/Manufacturing Services Subsector includes companies that provide research, development, manufacturing, sales and marketing to biopharmaceutical and medical device companies.
  
Drug Delivery Technology
The Drug Delivery Technology Subsector includes companies that develop novel delivery methods for therapeutics.
  

- 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  
Upper Respiratory  
Antihistamines
Therapeutics that inhibit the inflammation by blocking the action of histamines on tissues.

Buyer Products:

  • Andrx Pharmaceuticals Loratadine Rapidly-Disintegrating Tablet
  
Antihistamines/Decongestants
Therapeutics that block the inflammatory action of histamines and relieve or prevent coughs.

Buyer Products:

  • Andrx Pharmaceuticals Loratadine/Pseudoephedrine Sulfate
  • Andrx Pharmaceuticals Loratadine/Pseudoephedrine Extended Release
  
Cardiovascular System  
Heart Disorders  
Angina  
Beta Adrenergic Receptor Blocking Agents (Beta Blockers)
Therapeutics that treat chest pains by inhibiting stimulation of beta adrenergic receptors of the heart muscle.

Buyer Products:

  • Andrx Pharmaceuticals Metoprolol Succinate
  
Calcium Channel Blocking Agents
Therapeutics that treat chest pains by preventing the entry of calcium into heart muscle cells.

Buyer Products:

  • Andrx Pharmaceuticals Diltia XT (Diltiazem HCl Extended-Release)
  • Andrx Pharmaceuticals Taztia (Diltiazem HCl)
  • Andrx Pharmaceuticals Cartia XT (Diltiazem HCl Extended-Release)
  • Andrx Pharmaceuticals Taztia XT (Diltiazem HCl Extended Release)
  
Heart Failure (HF)  
Angiotensin Converting Enzyme Inhibitors (ACE Inhibitors)
Therapeutics that treat the ineffective pumping of the heart by inhibiting the renin-angiotensin system.

Buyer Products:

  • Andrx Pharmaceuticals Monopril (Fosinopril Sodium)
  
Beta Adrenergic Receptor Blocking Agents (Beta Blockers)
Therapeutics that treat the ineffective pumping of the heart by blocking beta adrenergic receptors of the heart muscle.

Buyer Products:

  • Andrx Pharmaceuticals Metoprolol Succinate
  
Vascular Disorders  
Atherosclerosis  
HMG CoA Reductase Inhibitors (Statins)
Therapeutics that treat the narrowing or hardening of the arteries by preventing the synthesis of cholesterol.

Buyer Products:

  • Andrx Pharmaceuticals Lovastatin
  
Hypertension  
Angiotensin Converting Enzyme Inhibitors (ACE Inhibitors)
Therapeutics that treat high blood pressure by inhibiting the renin-angiotensin system.

Buyer Products:

  • Andrx Pharmaceuticals Quinapril Hydrochloride
  • Andrx Pharmaceuticals Benazepril Hydrochloride
  
Angiotensin Converting Enzyme Inhibitors (ACE Inhibitors)/Thiazide Diuretic Agents
Therapeutics that treat high blood pressure by inhibiting the renin-angiotensin system and increasing the excretion of sodium ions, potassium ions, and water through urine.

Buyer Products:

  • Andrx Pharmaceuticals Benazepril Hydrochloride/Hydrochlorothiazide
  • Andrx Pharmaceuticals Fosinopril Sodium/Hydrochlorothiazide
  
Beta Adrenergic Receptor Blocking Agents (Beta Blockers)
Therapeutics that treat high blood pressure by blocking the beta adrenergic receptors of the heart muscle.

Buyer Products:

  • Andrx Pharmaceuticals Metoprolol Succinate
  
Calcium Channel Blocking Agents
Therapeutics that treat high blood pressure by blocking the beta adrenergic receptors of the heart muscle and increasing the excretion of sodium ions, potassium ions, and water through urine.

Buyer Products:

  • Andrx Pharmaceuticals Diltia XT (Diltiazem HCl Extended-Release)
  • Andrx Pharmaceuticals Cartia XT (Diltiazem HCl Extended-Release)
  • Andrx Pharmaceuticals Taztia (Diltiazem HCl)
  
Peripheral Vascular Disease  
Blood Viscosity Reducing Agents
Therapeutics that treat arterial obstruction outside of the heart by altering the flow of red blood cells.

Buyer Products:

  • Andrx Pharmaceuticals Cilostazol
  
Digestive System  
Gastrointestinal Tract Disorders  
Gastroduodenal Disorders  
Peptic Ulcers  
Duodenal  
H2 Receptor Antagonists
Therapeutics that treat peptic ulcers by inhibiting the actions of receptors responsible for triggering acid release into the stomach.

Buyer Products:

  • Andrx Pharmaceuticals Famotidine Tablets USP
  
Proton Pump Inhibitors
Therapeutics that treat peptic ulcers by inhibiting the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Andrx Pharmaceuticals Omeprazole
  
Gastric  
H2 Receptor Antagonists
Therapeutics that treat peptic ulcers by inhibiting the actions of receptors responsible for triggering acid release into the stomach.

Buyer Products:

  • Andrx Pharmaceuticals Famotidine Tablets USP
  
Proton Pump Inhibitors
Therapeutics that treat peptic ulcers by inhibiting the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Andrx Pharmaceuticals Omeprazole
  
Zollinger-Ellison Syndrome  
H2 Receptor Antagonists
Therapeutics that treat ulcers by inhibiting the actions of receptors responsible for triggering acid release into the stomach.

Buyer Products:

  • Andrx Pharmaceuticals Famotidine Tablets USP
  
Proton Pump Inhibitors
Therapeutics that treat ulcers by inhibiting the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Andrx Pharmaceuticals Omeprazole
  
Gastroesophageal Disorders  
Acid Indigestion/Heartburn  
H2 Receptor Antagonists
Therapeutics that treat indigestion by blocking the action of histamine at the H2 receptors.

Buyer Products:

  • Andrx Pharmaceuticals Famotidine Tablets USP
  
Erosive Esophagitis  
Proton Pump Inhibitors
Therapeutics that treat Erosive Esophagus by inhibiting the actions of receptors responsible for triggering acid release into the stomach.

Buyer Products:

  • Andrx Pharmaceuticals Omeprazole
  
Gastroesophageal Reflux Disease (GERD)  
H2 Receptor Antagonists
Therapeutics that treat Gastroesophageal Reflux Disease by inhibiting the actions of receptors responsible for triggering acid release into the stomach.

Buyer Products:

  • Andrx Pharmaceuticals Famotidine Tablets USP
  
Proton Pump Inhibitors
Therapeutics that treat Gastroesophageal Reflux Disease by inhibiting the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Andrx Pharmaceuticals Omeprazole
  
Endocrinology/Metabolism  
Diabetes  
Non-Insulin Dependent Diabetes Mellitus (NIDDM)/Type 2 Diabetes  
Biguanides
Therapeutics that treat abnormally high blood glucose levels by decreasing the production of glucose in the liver, decreasing intestinal absorption of glucose and increasing peripheral uptake and utilization of glucose.

Buyer Products:

  • Andrx Pharmaceuticals Metformin Hydrochloride Extended Release
  • Andrx Pharmaceuticals Metformin Hydrochloride
  
Biguanides/Peroxisome Proliferator-Activated Receptor Agonists (PPAR Agonists)
Therapeutics that control high blood sugar by stimulating the release of insulin as well as sensitizing organs to insulin.

Buyer Products:

  • Andrx Laboratories ACTOplus met XR (Pioglitazone/Metformin Extended Release)
  
Insulin Stimulating Agents (Sulfonylureas)
Therapeutics that treat non-insulin dependent diabetes by stimulating the secretion of insulin.

Buyer Products:

  • Andrx Pharmaceuticals Glipizide Extended Release
  
Hyperglycemia  
Insulin Stimulating Agents (Sulfonylureas)
Therapeutics that stimulate the secretion of insulin.

Buyer Products:

  • Andrx Pharmaceuticals Glipizide Extended Release
  
Intermediary Metabolism Disorders  
Gout  
Gouty Arthritis  
Non-Steroidal Anti-Inflammatory Drugs (NSAID)  
Non-Specific Cyclooxygenase Inhibitors (COX Inhibitors)
Therapeutics that counteract or suppress inflammation preventing cyclooxygenase activity.

Buyer Products:

  • Andrx Pharmaceuticals Naproxen Sodium
  
Hypercholesterolemia  
HMG CoA Reductase Inhibitors (Statins)
Therapeutics that block cholesterol synthesis by binding a key enzyme in the synthesis process.

Buyer Products:

  • Andrx Pharmaceuticals Lovastatin
  
Hematology  
Serum Factor Disorders  
Hypercholesterolemia  
HMG CoA Reductase Inhibitors (Statins)
Therapeutics that block cholesterol synthesis by binding a key enzyme in the synthesis process.

Buyer Products:

  • Andrx Pharmaceuticals Lovastatin
  
Hyperglycemia  
Insulin Stimulating Agents (Sulfonylureas)
Therapeutics that stimulate the secretion of insulin.

Buyer Products:

  • Andrx Pharmaceuticals Glipizide Extended Release
  
Hypokalemia  
Potassium Supplements
Therapeutics that treat hypokalemia by providing potassium to the body.

Buyer Products:

  • Andrx Pharmaceuticals Potassium Chloride Extended Release
  
Immunology  
Autoimmune Disorders  
Arthritis  
Rheumatoid Arthritis (RA)  
Analgesics  
Non-Steroidal Anti-Inflammatory Drugs (NSAID)  
Non-Specific Cyclooxygenase Inhibitors (COX Inhibitors)
Therapeutics that treat pain associated with chronic inflammation of the joints by blocking cyclooxygenase activity.

Buyer Products:

  • Andrx Pharmaceuticals Ketoprofen Extended Release
  • Andrx Pharmaceuticals Naproxen Sodium
  • Andrx Pharmaceuticals Etodolac Extended Release
  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Broad Spectrum  
Antibiotics  
Macrolides
Therapeutics that treat a wide variety of infections by inhibiting RNA-dependent bacterial protein synthesis.

Buyer Products:

  • Andrx Pharmaceuticals Clarithromycin Extended Release
  
Mycological (Fungal)  
Antifungal Agents  
Narrow Spectrum  
Dermatology  
Onychomycosis (Nail)  
Amine Derivatives  
Allyl
Therapeutics that treat fungal infections of the nail caused by yeast by causing a deficiency in the cell wall.

Buyer Products:

  • Andrx Pharmaceuticals Terbinafine Hydrochloride
  
Musculoskeletal System  
Skeletal Disorders  
Joint Disorders  
Ankylosing Spondylitis  
Non-Steroidal Anti-Inflammatory Drugs (NSAID)  
Non-Specific Cyclooxygenase Inhibitors (COX Inhibitors)
Therapeutics that treat inflammation by non-specifically inhibiting the action of cyclooxygenase.

Buyer Products:

  • Andrx Pharmaceuticals Naproxen Sodium
  
Gouty Arthritis  
Non-Steroidal Anti-Inflammatory Drugs (NSAID)  
Non-Specific Cyclooxygenase Inhibitors (COX Inhibitors)
Therapeutics that treat inflammation by inhibiting cyclooxygenase activity.

Buyer Products:

  • Andrx Pharmaceuticals Naproxen Sodium
  
Osteoarthritis (OA)  
Non-Steroidal Anti-Inflammatory Drugs (NSAID)  
Non-Specific Cyclooxygenase Inhibitors (COX Inhibitors)
Therapeutics that treat inflammation by non-specifically inhibiting the action of cyclooxygenase.

Buyer Products:

  • Andrx Pharmaceuticals Naproxen Sodium
  • Andrx Pharmaceuticals Ketoprofen Extended Release
  • Andrx Pharmaceuticals Etodolac Extended Release
  
Rheumatoid Arthritis (RA)  
Analgesics  
Non-Steroidal Anti-Inflammatory Drugs (NSAID)  
Non-Specific Cyclooxygenase Inhibitors (COX Inhibitors)
Therapeutics that treat pain associated with chronic inflammation of the joints by blocking cyclooxygenase activity.

Buyer Products:

  • Andrx Pharmaceuticals Etodolac Extended Release
  • Andrx Pharmaceuticals Ketoprofen Extended Release
  • Andrx Pharmaceuticals Naproxen Sodium
  
Neurology  
Neurological Disorders  
Epilepsy  
Partial Seizures  
Complex  
Adjunctive Therapy  
Gamma-Aminobutyric Acid (GABA) Reuptake Inhibitors
Therapeutics that treat complex partial seizures by preventing the uptake of gamma-aminobutyric acid, which prevent nerve activation.

Buyer Products:

  • Andrx Laboratories Valproate Delayed Release Tablet (Divalproex)
  • Andrx Pharmaceuticals Gabapentin
  
Monotherapy  
Gamma-Aminobutyric Acid (GABA) Reuptake Inhibitors
Therapeutics that treat complex partial seizures by preventing the uptake of gamma-aminobutyric acid, that prevents nerve activation.

Buyer Products:

  • Andrx Laboratories Valproate Delayed Release Tablet (Divalproex)
  
Primary Generalized Seizures  
Absence (Petit Mal)  
Adjunctive Therapy  
Gamma-Aminobutyric Acid (GABA) Reuptake Inhibitors
Therapeutics that treat Petit Mal Seizures by preventing the uptake of molecules that prevents nerve activation.

Buyer Products:

  • Andrx Laboratories Valproate Delayed Release Tablet (Divalproex)
  
Monotherapy  
Gamma-Aminobutyric Acid (GABA) Reuptake Inhibitors
Therapeutics that treat Petit Mal Seizures by preventing the uptake of molecules that prevents nerve activation.

Buyer Products:

  • Andrx Laboratories Valproate Delayed Release Tablet (Divalproex)
  
Headaches  
Vascular (Migraine)  
Prophylactic Treatments  
Gamma-Aminobutyric Acid (GABA) Reuptake Inhibitors
Therapeutics that provide preventative treatments for migraine headaches by inhibiting the uptake of molecules that prevent nerve activation.

Buyer Products:

  • Andrx Laboratories Valproate Delayed Release Tablet (Divalproex)
  
Psychiatric Disorders  
Anxiety  
Generalized Anxiety Disorder (GAD)  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat anxiety by selectively preventing the removal of serotonin.

Buyer Products:

  • Andrx Pharmaceuticals Paroxetine Hydrochloride
  
Obsessive Compulsive Disorder (OCD)  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat Anxiety by selectively preventing the removal of serotonin.

Buyer Products:

  • Andrx Pharmaceuticals Sertraline Hydrochloride
  • Andrx Pharmaceuticals Paroxetine Hydrochloride
  • Andrx Pharmaceuticals Fluoxetine Hydrochloride
  
Panic Disorder  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat panic disorder by selectively preventing the removal of serotonin.

Buyer Products:

  • Andrx Pharmaceuticals Sertraline Hydrochloride
  • Andrx Pharmaceuticals Paroxetine Hydrochloride
  
Post-Traumatic Stress Disorder (PTSD)  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat post traumatic stress disorder by selectively preventing the removal of serotonin.

Buyer Products:

  • Andrx Pharmaceuticals Sertraline Hydrochloride
  • Andrx Pharmaceuticals Paroxetine Hydrochloride
  
Social Anxiety Disorder (SAD)  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat Social Anxiety Disorder by selectively preventing the removal of serotonin.

Buyer Products:

  • Andrx Pharmaceuticals Sertraline Hydrochloride
  • Andrx Pharmaceuticals Paroxetine Hydrochloride
  
Childhood/Adolescent Disorders  
Attention Deficit Disorder (ADD)/Attention Deficit Hyperactivity Disorder (ADHD)  
Dopamine Receptor Blocking Agents
Therapeutics that treat attention deficit disorder by blocking the dopamine receptors.

Buyer Products:

  • Andrx Pharmaceuticals Methylphenidate Hydrochloride
  
Eating Disorders  
Bulimia  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat eating disorders by selectively preventing the removal of serotonin.

Buyer Products:

  • Andrx Pharmaceuticals Fluoxetine Hydrochloride
  
Mood Disorders  
Bipolar Disorders (Manic Depressive Disorders)  
Gamma-Aminobutyric Acid (GABA) Reuptake Inhibitors
Therapeutics that treat bipolar disorders by preventing the uptake of gamma-aminobutyric acid, that prevents nerve activation.

Buyer Products:

  • Andrx Laboratories Valproate Delayed Release Tablet (Divalproex)
  
Depression  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat depression by selectively preventing the removal of serotonin.

Buyer Products:

  • Andrx Pharmaceuticals Paroxetine Hydrochloride
  • Andrx Pharmaceuticals Sertraline Hydrochloride
  • Andrx Pharmaceuticals Fluoxetine Hydrochloride
  
Tetracyclic Compounds
Therapeutics that treat depression by increasing the synaptic concentrations of norepinephrine.

Buyer Products:

  • Andrx Pharmaceuticals Mirtazapine
  
Premenstrual Dysphoric Disorders  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat premenstrual dysphoric disorders by selectively preventing the removal of serotonin.

Buyer Products:

  • Andrx Pharmaceuticals Sertraline Hydrochloride
  
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.

Buyer Products:

  • Andrx Pharmaceuticals Previfem (Norgestimate/Ethinyl Estradiol)
  • Andrx Pharmaceuticals Tri-Previfem (Norgestimate/Ethinyl Estradiol)
  • Andrx Pharmaceuticals Norethindrone/Ethinyl Estradiol/Ferrous Fumarate
  
Pain Management  
Narcotics  
Analgesics/Opioids
Therapeutics that treat pain by binding to certain nervous system receptors which alters the both the perception of pain as well as the emotional response to pain.

Buyer Products:

  • Anexsia (Acetaminophen/Hydrocodone Bitartrate)
  • Andrx Pharmaceuticals Codeine Phosphate/Acetaminophen
  • Andrx Pharmaceuticals Ibuprofen/Hydrocodone Bitartrate
  • Andrx Pharmaceuticals Propoxyphene Hydrochloride/Acetaminophen
  • Andrx Pharmaceuticals Acetaminophen/Tramadol Hydrochloride
  
Opioids
Therapeutics that treat pain by binding to certain nervous system receptors which alter both the perception of pain as well as the emotional response to pain.

Buyer Products:

  • Andrx Pharmaceuticals Fentanyl
  • Andrx Pharmaceuticals Oxycodone HCl Extended Release
  
Non-Narcotics  
Non-Steroidal Anti-Inflammatory Drugs (NSAID)  
Non-Specific Cyclooxygenase Inhibitors (COX Inhibitors)
Therapeutics that treat pain by non-specifically inhibiting the action of cyclooxygenase.

Buyer Products:

  • Andrx Pharmaceuticals Naproxen Sodium
  
Respiratory System
Lower Respiratory Tract Disorders (Lung Disorders)  
Asthma  
Acute Treatments  
Bronchodilators  
Beta Adrenergic Receptor Agonists
Therapeutics that cause dilation of the lung passages by supporting the actions of the adrenergic transmitters like epinephrine and norepinephrine.

Buyer Products:

  • Armstrong Pharmaceuticals Albuterol MDI
  • Andrx Pharmaceuticals Albuterol Inhalation Aerosol
  
Bronchitis  
Acute Treatments  
Bronchodilators  
Beta Adrenergic Receptor Agonists
Therapeutics that cause dilation of the lung passages by supporting the actions of the adrenergic transmitters like epinephrine and norepinephrine.

Buyer Products:

  • Armstrong Pharmaceuticals Albuterol MDI
  • Andrx Pharmaceuticals Albuterol Inhalation Aerosol
  
Bronchospasm  
Bronchodilators  
Beta Adrenergic Receptor Agonists
Therapeutics that cause dilation of the lung passages by supporting the actions of the adrenergic transmitters like epinephrine and norepinephrine.

Buyer Products:

  • Armstrong Pharmaceuticals Albuterol MDI
  • Andrx Pharmaceuticals Albuterol Inhalation Aerosol
  
Chronic Obstructive Pulmonary Disease (COPD)  
Acute Treatments  
Bronchodilators  
Beta Adrenergic Receptor Agonists
Therapeutics that cause dilation of the lung passages by supporting the actions of the adrenergic transmitters like epinephrine and norepinephrine.

Buyer Products:

  • Andrx Pharmaceuticals Albuterol Inhalation Aerosol
  • Armstrong Pharmaceuticals Albuterol MDI
  
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.

Target Products:

  • Erdosteine
  
Upper Respiratory Tract Disorders
Coughs/Colds
Antitussives
Therapeutics that relieve or prevent coughs.

Target Products:

  • Delsym (Dextromethorphan Polistirex)
  
Antitussives/Expectorants
Therapeutics that treat coughs and colds by suppressing coughs and helping ejection of the mucous.

Target Products:

  • Maximum Strength DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
  • Mucinex DM (Guaifenesin/Dextromethorphan Hydrobromide Extended Release)
  
Decongestants/Expectorants
Therapeutics that treat coughs and colds by reducing mucous build up and help in ejection of mucous.

Buyer Products:

  • Andrx Laboratories Entex LA (Phenylephrine Hydrochloride/Guaifenesin)
  • Andrx Laboratories Pseudoephedrine Extended Release/Guaifenesin Capsules
  • Andrx Pharmaceuticals Phenylephrine Hydrochloride/Guaifenesin

Target Products:

  • Mucinex D (Guaifenesin/Pseudoephedrine HCl Extended Release)
  • Maximum Strength D (Guaifenesin/Pseudoephedrine HCl Extended Release)
Expectorants
Therapeutics that treat coughs and colds by helping in the ejection of mucous.

Target Products:

  • Mucinex SE (Guaifenesin Extended Release)
  • Humibid (Guaifenesin Extended Release)
  
Toxicology  
Substance Abuse  
Withdrawal  
Nicotine (Smoking Cessation)  
Serotonin/Norepinephrine Reuptake Inhibitors
Therapeutics that increase the concentration of several neurotransmitters in the brain by inhibiting their uptake.

Buyer Products:

  • Andrx Pharmaceuticals Bupropion Hydrochloride
  
Healthcare Services  
Distributors  
Pharmaceutical  
Specialty/Generic
Specialty drug distributors focus on the distribution of specific drugs. Because specialty drug distributors typically target certain therapeutic areas, in addition to distributing only certain classes of drugs, these companies will provide complementary services to the targeted patient populations. Examples of such complementary services include disease management programs, drug therapies (such as infusion therapy), and other disease class-specific services.

Buyer Products:

  • Anda, Inc.
  • Value In Pharmaceuticals (VIP)/Valmed Pharmaceuticals
  
Nutritional Health  
Dietary/Naturopathic Supplements  
Women`s Health
Products consisting of dietary/naturopathic supplements that are intended to support women's health.

Buyer Products:

  • Andrx Corp.
  
Outsourced Services  
Development/Manufacturing Services  
Contract Manufacturing Organizations (CMO)  
Pharmaceuticals  
Active/Intermediate Chemicals
Intermediate and active ingredient contract manufacturing organizations that produce large quantities of small molecule compounds for use in final dosage forms.

Buyer Products:

  • Armstrong Pharmaceuticals, Inc.
  
Drug Delivery Technology  
Oral Delivery  
Hydrogel Based
Drug Delivery Technologies used to deliver drugs in a jelly like base.

Buyer Products:

  • Andrx Laboratories Granulated Modulating Hydrogel System (GMHS)
  • Andrx Laboratories Delayed Pulsatile Hydrogel System (DPHS)
  • Andrx Laboratories Directly Compressible Hydrogel System
  • Andrx Laboratories Pulsatile Hydrogel System
  • Andrx Laboratories Solubility Modulating Hydrogel System (SMHS)
  
Hydrogel Based/Polymer Coated
Drug Delivery Technologies used to deliver drugs in a jelly like base which are enclosed using a polymer matrix.

Buyer Products:

  • Andrx Laboratories Granulated Modulating Hydrogel System (GMHS)
  
Osmotic
Drug Delivery Technologies utilizing an osmotic mechanism for sustained release of the drugs.

Buyer Products:

  • Andrx Laboratories Single Composition Osmotic Tablet System (SCOT)
  • Andrx Laboratories Porous Tablet System (PORTAB)
  
Polymer Coated
Drug Delivery Technologies used to deliver drugs in a polymer based matrix to hold/enclose the drug.

Buyer Products:

  • Andrx Laboratories Pelletized Pulsatile Delivery System (PPDS)
  • Andrx Laboratories Stabilized Pellet Delivery System (SPDS)
  • Andrx Laboratories Stabilized Tablet Delivery System (STDS)
  • Andrx Laboratories Pelletized Tablet System (PELTAB)
  • Andrx Laboratories Modified Antihistamine/Decongestant Combination System (MACS)
  • Andrx Laboratories Pulsatile Enteric Coating 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.

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
Buyer
  Cardinal Health, Inc. n/a 26,140.058 26.14 17.82 0.32 0.30 7.76
McKesson Corporation n/a 15,236.009 19.94 18.78 0.17 0.16 3.83
AmerisourceBergen Corp. n/a 9,419.104 25.79 22.14 0.16 0.16 5.69
Barr Pharmaceuticals, Inc. n/a 5,391.955 16.02 15.68 4.10 3.81 4.40
Flamel Technologies S.A. (ADR) n/a 574.800 n/a -20.50 29.96 20.33 7.24
Penwest Pharmaceuticals n/a 418.344 n/a -13.47 70.02 78.84 7.70
Impax Laboratories Inc. n/a 412.317 352.96 20.29 3.66 n/a 7.03
Elite Pharmaceuticals, Inc. n/a 40.143 n/a n/a 68.19 n/a 5.07
Target
  The Procter & Gamble Company n/a 201,811.395 23.64 21.10 2.96 2.67 n/a
Johnson & Johnson n/a 199,398.736 18.02 18.45 3.82 3.78 n/a
Pfizer Inc. n/a 198,473.286 15.73 13.44 4.11 4.18 n/a
Novartis AG (ADR) n/a 142,354.711 20.75 19.67 3.93 3.89 3.69
Wyeth n/a 69,974.213 17.18 16.60 3.52 3.51 n/a
Bayer AG (ADR) n/a 36,750.709 18.09 16.81 1.03 1.17 n/a
Schering-Plough Corporation n/a 33,626.034 34.35 28.12 3.28 3.26 4.36
CVS Corporation n/a 25,628.336 19.53 20.49 0.65 0.60 5.64

- 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
  Johnson & Johnson n/a 199,398.736 18.02 18.45 3.82 3.78 n/a
Pfizer Inc. n/a 198,473.286 15.73 13.44 4.11 4.18 n/a
Novartis AG (ADR) n/a 142,354.711 20.75 19.67 3.93 3.89 3.69
Tyco International Ltd. n/a 58,789.356 17.30 16.06 1.51 1.44 12.50
Elan Corporation, plc (ADR) n/a 6,402.804 n/a -19.54 11.98 11.24 n/a
Amphastar Pharmaceuticals, Inc. n/a n/a n/a n/a n/a n/a n/a
Ranbaxy Laboratories Ltd. n/a n/a n/a n/a n/a n/a n/a
Target
  Cardinal Health, Inc. n/a 26,140.058 26.14 17.82 0.32 0.30 7.76
UCB S.A. n/a n/a n/a n/a n/a n/a n/a
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a

- 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
  Tyco International Ltd. n/a 58,789.356 17.30 16.06 1.51 1.44 12.50
Teva Pharmaceutical Industries Ltd (ADR) n/a 25,246.724 488.32 15.14 3.85 3.01 n/a
Sciele Pharma Inc. n/a 763.228 17.79 17.82 2.89 2.53 12.02
Impax Laboratories Inc. n/a 412.317 352.96 20.29 3.66 n/a 7.03
Target
  Wal-Mart Stores, Inc. 10.00% 211,494.994 19.84 17.91 0.64 0.62 4.91
Walgreen Company 10.00% 43,182.977 24.67 21.78 0.91 0.81 4.27
CVS Corporation 10.00% 25,628.336 19.53 20.49 0.65 0.60 5.64
McKesson Corporation 10.00% 15,236.009 19.94 18.78 0.17 0.16 3.83

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Johnson & Johnson n/a 199,398.736 18.02 18.45 3.82 3.78 n/a
Pfizer Inc. n/a 198,473.286 15.73 13.44 4.11 4.18 n/a
Novartis AG (ADR) n/a 142,354.711 20.75 19.67 3.93 3.89 3.69
Tyco International Ltd. n/a 58,789.356 17.30 16.06 1.51 1.44 12.50
Teva Pharmaceutical Industries Ltd (ADR) n/a 25,246.724 488.32 15.14 3.85 3.01 n/a
Elan Corporation, plc (ADR) n/a 6,402.804 n/a -19.54 11.98 11.24 n/a
Watson Pharmaceuticals, Inc. n/a 2,726.181 39.63 21.82 1.56 1.47 2.59
Perrigo Company n/a 1,689.856 23.67 20.83 1.24 1.20 4.74
Sciele Pharma Inc. n/a 763.228 17.79 17.82 2.89 2.53 12.02
Impax Laboratories Inc. n/a 412.317 352.96 20.29 3.66 n/a 7.03
Schwarz Pharma, Inc. n/a n/a n/a n/a n/a n/a n/a
Target
  Wal-Mart Stores, Inc. n/a 211,494.994 19.84 17.91 0.64 0.62 4.91
Target Corporation n/a 50,285.052 19.83 18.94 0.91 0.86 3.50
Walgreen Company n/a 43,182.977 24.67 21.78 0.91 0.81 4.27
Sears Holdings Corporation n/a 27,254.188 23.10 20.97 0.51 0.54 4.35
Cardinal Health, Inc. n/a 26,140.058 26.14 17.82 0.32 0.30 7.76
CVS Corporation n/a 25,628.336 19.53 20.49 0.65 0.60 5.64
The Kroger Co. n/a 16,357.290 16.66 15.90 0.26 0.25 6.64
McKesson Corporation n/a 15,236.009 19.94 18.78 0.17 0.16 3.83
Safeway Inc. n/a 12,864.566 17.48 16.80 0.32 0.32 4.07
AmerisourceBergen Corp. n/a 9,419.104 25.79 22.14 0.16 0.16 5.69
Rite Aid Corporation n/a 2,368.368 1.94 n/a 0.14 0.13 3.06
Albertsons LLC n/a n/a n/a n/a n/a n/a n/a
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a
UCB S.A. 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 1,001.4 239.1 1,240.5
Other Revenue 0.0 0.0 0.0
Total Revenue 1,001.4 239.1 1,240.5
Cost of Revenue 791.0 49.4 840.4
SG&A Expense 163.0 99.0 262.0
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 49.6 18.9 68.5
Interest Expense 0.0 -4.3 -4.3
Other Operating Expense 0.0 0.0 0.0
Total Expenses 1,003.7 163.0 1,166.6
Operating Income -2.3 76.2 73.9
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 17.2 0.0 17.2
Other, Net -1.2 0.0 -1.2
Income Before Taxes 13.8 76.2 89.9
Income Taxes 5.2 29.8 35.0
Income After Taxes 8.6 46.4 54.9
Net Income - Excl. Xord. Items 8.6 46.4 54.9
Accounting Change 0.7 0.0 0.7
Net Income - Incl. Xord. Items 9.3 46.4 55.6
Income Avail. to Common 9.3 46.4 55.6
Share Items
Basic Avg. Shares Outstanding 73.9 34.8 108.7
Basic EPS - Excl. Xord. Items 0.12 1.33 0.51
Basic EPS - Incl. Xord. Items 0.13 1.33 0.51
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 74.5 37.5 112.0
F.D. EPS - Excl. Xord. Items 0.12 1.24 0.49
F.D. EPS - Incl. Xord. Items 0.12 1.24 0.50
Balance Sheet
Assets
Cash and Equivalents 15.7 34.8 50.5
ST Investments 293.5 22.2 315.7
Accounts Receivable 149.7 23.5 173.2
Inventory 229.5 10.6 240.1
Prepayments and Advances 15.0 4.9 19.8
Other Current Assets 103.5 3.7 107.1
Current Assets 806.8 99.6 906.4
PPE 0.0 8.1 8.1
Accum D&A 0.0 -0.7 -0.7
PPE, Net 233.4 7.4 240.8
Goodwill & Intangibles 11.0 127.1 138.2
Long Term Investments 58.4 0.0 58.4
Other Assets 0.0 0.0 0.0
Other LT Assets 10.6 18.4 29.0
Total Assets 1,120.2 252.6 1,372.8
Liabilities
Accounts Payable 118.9 15.2 134.1
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 94.1 11.5 105.6
ST Debt 0.0 0.0 0.0
Other (Current) Liabilities 0.0 1.6 1.6
Current Liab. 213.0 28.3 241.3
LT Debt 0.0 0.0 0.0
Total LT Debt 0.0 0.0 0.0
Deferred Taxes 30.2 0.0 30.2
Other LT Liab. 105.2 2.0 107.2
Total Liabilities 348.4 30.3 378.7
Shareholders Equity
Common Stock 0.1 0.3 0.4
Additional Paid in Capital 522.5 464.9 987.4
Retained Earnings 250.5 -243.0 7.5
Other Equity -1.1 0.0 -1.1
Total Equity 771.9 222.3 994.2
Total Liab. & Equity 1,120.2 252.6 1,372.8
Shares Outstanding 73.9 34.9 108.8
Cash Flow
Operating Cash Flow
CF Net Income 9.3 46.4 55.6
CF Depreciation 36.0 1.3 37.2
CF Deferred Taxes -5.6 2.0 -3.5
Other Non-Cash Items 28.7 6.4 35.1
Change in Working Capital -35.4 -8.4 -43.8
Total Cash From Operating Activities 33.0 47.6 80.6
Investing Cash Flow (not calculated)
Capital Expenditures -30.8 -128.8 -159.6
Other Investing Cash Flows -34.8 -38.2 -73.1
Total Cash From Investing Activities -65.6 -167.0 -232.6
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock 5.3 110.5 115.8
Purchase and Retirement of Debt 0.0 0.0 0.0
Other Financing Cash Flow 1.1 19.0 20.1
Total Cash From Financing Activities 6.3 129.6 135.9
Exchange Rate Effects 0.0 0.0 0.0
Net Change in Cash -26.3 10.2 -16.1
Cash Taxes Paid 6.0 10.7 16.7
Cash Interest Paid 1.2 0.0 1.2