Summary

Other Scenarios:

Buyer: Novo Nordisk A/S (ADR) (NVO) Last Price: 45.10 Market Cap.: 32.33B
Target: ImClone Systems Incorporated (IMCL) Last Price: 69.95 Market Cap.: 6.22B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 848
Biopharmaceuticals 369
Medical Devices   225

- 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: 37)
  • NovoSeven (Recombinant Coagulation Factor VIIa)
  • NovoLog Mix 70/30 (Insulin Aspart)
  • NovoMix 50 (Insulin Aspart Mixture)
  • Levemir (Insulin Detemir)
Target (Total: 14)
  • IMC-1121B (VEGFR-2 Monoclonal Antibody)
  • Erbitux (Cetuximab)
  • IMC-11F8 (EGFR Inhibitor Monoclonal Antibody)
  • IMC-A12 (VEGFR-2/IGF-1R Modulator)
Buyer
  • Levemir Flexpen
  • Norditropin NordiFlex/NordiFlex PenMate
  • NovoPen Delivery System Series
  • Novolin InnoLet
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 9)
  • Neose Technologies, Inc. (NTEC)
  • MDRNA, Inc. (MRNA)
  • Crucell N.V. (ADR) (CRXL)
  • Medarex inc. (MEDX)
Target (Total: 8)
  • Johnson & Johnson (JNJ)
  • Sanofi-Aventis SA (ADR) (SNY)
  • Medarex inc. (MEDX)
  • Dyax Corp. (DYAX)
Buyer (Total: 4)
  • Pfizer Inc. (PFE)
  • Cephalon, Inc. (CEPH)
  • Enzon Pharmaceuticals, Inc. (ENZN)
  • Amicus Therapeutics, Inc. (FOLD)
Target (Total: 3)
  • Bristol Myers Squibb Co. (BMY)
  • Merck KGaA (MRK:F)
  • Repligen Corporation (RGEN)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 26,360 1,128
Revenue Per Employee 296,601.7 585,913.2
Total Revenue 1,909.1 165.1
Total Expenses 1,344.8 149.9
Other Revenue 0.0 0.0
Cost of Revenue 442.4 107.5
SG&A Expense 643.0 24.3
Research & Development 259.6 0.0
Other Operating Expense -8.7 0.0
Operating Income 564.3 15.2
Unusual Income 8.5 18.1
LT Debt to Capital 2.94 0
Fwd P/E 17.27 59.15
Fwd P/Rev 3.88 9.11
Book Value 5,461.7 897.0
Curr Portion of LTD/Cap Lease 0.0 600.0

Individual Company Summary

Focused

Buyer

Focused (): Healthcare > Biopharmaceuticals > Endocrinology/Metabolism > Diabetes

Target

Sector Pure-Play (): Healthcare > Biopharmaceuticals > Oncology

Business Description

Buyer

Novo Nordisk A/S is a Denmark-based healthcare company. The Company provides diabetes care and has diabetes product portfolio in the industry, including insulin delivery systems. Novo Nordisk operates on a worldwide basis in two business segments: diabetes care, which includes discovery, development, manufacturing and marketing of products within the areas of insulin and delivery systems and oral anti-diabetic products (OAD), and biopharmaceuticals, which includes discovery, development, manufacturing and marketing of products within the therapy areas hemostasis management (NovoSeven), growth hormone therapy, hormone replacement therapy, inflammation therapy and other therapy areas. During the year ended December 31, 2007, it initiated Phase I studies of its long-acting recombinant factor VIIa analogue, a subcutaneous formulation of rFVIIa for the treatment of hemophilia patients with inhibitors and a long-acting human growth hormone.

Target

ImClone Systems Incorporated (ImClone) is a biopharmaceutical company that develops a portfolio of targeted biologic treatments designed to address the medical needs of patients with cancer. The Company focuses on two systems for treating cancer: growth factor blockers and angiogenesis inhibitors. Its commercially available product, ERBITUX (cetuximab), is an antibody approved by the United States Food and Drug Administration (FDA). On March 1, 2006, the FDA approved ERBITUX for use in combination with radiation therapy for the treatment of locally or regionally advanced squamous cell carcinoma of the head and neck (SCCHN) and as a single agent in recurrent or metastatic SCCHN. In addition to developing and commercializing ERBITUX, the Company has also advanced a number of investigational agents to various stages of clinical development, including those targeting angiogenesis and growth signaling mechanisms, which can be used to treat various kinds of cancer and other diseases.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 76.83 39.33
Operating Margin % 23.06 -4.03
Quick Ratio 1.45 1.37
Current Ratio 2.2 1.58
Coverage Ratio 0.08 -0.93
Total Assets 8,316.5 1,829.7
Return on Equity % 25.77 -6.79
Return on Assets % 16.93 -3.33
Cash+ ST Inv. Per Share 2.41 11.33
Total Debt 302.0 600.0
Total Debt to Equity % 5.53 66.89
Total Debt to Tangible Equity % 5.68 66.89
Debt to Asset % 3.63 32.79

Product Summary

Sector Buyer Target
Healthcare
Biopharmaceuticals
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.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
  
Obstetrics/Gynecology
The Obstetrics/Gynecology Subsector includes therapeutics that treat female genital disorders, pregnancy, and childbirth.
  
Oncology
The Oncology Subsector includes therapeutics that treat and manage various types of cancer and related complications.
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Weight Management
The Weight Management Subsectors includes herapeutics that treat and manage weight disorders.
  
Medical Devices  
Drug Delivery
The Drug Delivery Subsector includes medical devices that facilitate the delivery of medications through different anatomical entryways, including blood vessels, skin, the mouth, and the lungs. Common devices in this sector include vascular access catheters, needles, implants, and inhalers.
  

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

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

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

Product Details

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

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
Endocrinology/Metabolism  
Diabetes  
Insulin Dependent Diabetes Mellitus (IDDM)/Type 1 Diabetes  
Insulin Therapy  
Human Analogs
Insulin supplements that resemble natural human insulin.

Buyer Products:

  • NovoLog Mix 70/30 (Insulin Aspart)
  • NovoMix 50 (Insulin Aspart Mixture)
  • Levemir (Insulin Detemir)
  • NovoMix 70 (Insulin Aspart Mixture)
  • NovoLog (Insulin Aspart (rDNA Origin))
  
Recombinant Human
Therapeutics that are derived from human genes.

Buyer Products:

  • Novolin 70/30 (Isophane/Regular Insulin)
  • Novolin N (Isophane Insulin Suspension)
  • Novolin R (Regular Insulin)
  
Non-Insulin Dependent Diabetes Mellitus (NIDDM)/Type 2 Diabetes  
Biguanides/Insulin Stimulating Agents
Therapeutics that control high blood sugar by stimulating the release of insulin as well as decreasing the production of glucose in the liver.

Buyer Products:

  • PrandiMet (Repaglinide/Metformin Fixed Combo)
  
Glucagon-Like Peptide-1 Receptor Agonists (GLP-1 Receptor Agonists)
Therapeutics that treat non-insulin dependent diabetes by stimulating the Glucagon-Like Peptide (GLP) receptor. GLP regulates gastric emptying, insulin secretion, food intake, and glucagon secretion.

Buyer Products:

  • Liraglutide (NN 2211)
  
Insulin Stimulating Agents (Non-Sulfonylureas)
Therapeutics that treat non-insulin dependent diabetes by stimulating the secretion of insulin.

Buyer Products:

  • Prandin (Repaglinide)
  
Insulin Therapy  
Human Analogs
Insulin supplements that resemble natural human insulin.

Buyer Products:

  • Levemir (Insulin Detemir)
  • NovoMix 50 (Insulin Aspart Mixture)
  • NovoMix 70 (Insulin Aspart Mixture)
  • NovoLog Mix 70/30 (Insulin Aspart)
  • NovoLog (Insulin Aspart (rDNA Origin))
  
Recombinant Human
Therapeutics that are derived from human genes.

Buyer Products:

  • Novolin R (Regular Insulin)
  • Novolin N (Isophane Insulin Suspension)
  • Novolin 70/30 (Isophane/Regular Insulin)
  
General Hormone Treatments  
Estrogens
Therapeutics that treat hormonal disorders by providing estrogen.

Buyer Products:

  • Vagifem (Estradiol Vaginal Tablets, USP)
  
Hypoglycemia  
Gluconeogenic Agents/Glycogenolytic Agents
Therapeutics that treat hypoglycemia by enabling the release of glucose from the liver.

Buyer Products:

  • GlucaGen (Recombinant Glucagon)
  
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:

  • Oral Glucagon-Like Peptide-1 (GLP-1)
  • NN1731 (Recombinant Factor VII Short-Acting Analog)
  • Long-Acting Growth Hormone
  • NN9535 (Once-Weekly GLP-1 Analog)
  • NN5401 (Next-Generation Insulin Analogue)
  • NN1250 (Next-Generation Insulin Analogue)
  
Pituitary Gland Disorders  
Severe Short Stature  
Growth Hormones
Therapeutics similar to pituitary hormones, which stimulate body growth and development.

Buyer Products:

  • Norditropin (r-Somatropin)
  
Turner`s Syndrome  
Growth Hormones
Therapeutics similar to pituitary hormones, which stimulate body growth and development.

Buyer Products:

  • Norditropin (r-Somatropin)
  
Reproductive Disorders  
Menopause  
Estrogens
Therapeutics that are female sex hormones.

Buyer Products:

  • Vagifem (Estradiol Vaginal Tablets, USP)
  
Estrogens/Progestins
Therapeutics that are mixture of two female sex hormones that are important for the development of the female reproductive system.

Buyer Products:

  • Activella (Estradiol/Norethindrone Acetate)
  
Hematology  
Hemophilia  
Hemophilia A  
Clotting Agents
Therapeutics that aid in blood coagulation.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
Hemophilia B  
Clotting Agents
Therapeutics that assist in blood coagulation.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
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:

  • rFVIIa Analog (Recombinant Factor VII Long-Acting Analog)
  • NN1731 (Recombinant Factor VII Short-Acting Analog)
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of hematological disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Thrombin-Activable factor X
  
Serum Factor Disorders  
Hypoglycemia  
Gluconeogenic Agents/Glycogenolytic Agents
Therapeutics that treat low blood sugar by promoting the breakdown of glycogen into glucose in the liver as well as the synthesis of glucose from non-carbohydrate precursors.

Buyer Products:

  • GlucaGen (Recombinant Glucagon)
  
Immunology  
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:

  • Anti-IL20
  • Anti-c5aR
  
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:

  • Anti-c5aR
  • Anti-IL20
  
Skeletal Disorders  
Bone Disorders  
Osteoporosis  
Hormonal Treatments  
Estrogens/Progestins
Therapeutics that treat osteoporosis by providing female hormones which results in a decrease in the rate of bone loss due to osteoclasts.

Buyer Products:

  • Activella (Estradiol/Norethindrone Acetate)
  
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.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
Obstetrics/Gynecology  
Female Genital Disorders  
Vulvovaginal  
Atrophy  
Hormonal Treatments  
Estrogens/Progestins
Therapeutics that treat disorders characterized by thinning of the vaginal walls with a combination of the female sex hormones estrogen and progestin.

Buyer Products:

  • Activella (Estradiol/Norethindrone Acetate)
  
Oncology
Breast Cancer  
Metastatic  
Monoclonal Antibodies
Therapeutics that bind to specific receptors on the surface of breast cancer cells and inhibit the cancer cells' growth and induce their death.

Target Products:

  • IMC-1121B (VEGFR-2 Monoclonal Antibody)
  
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.

Target Products:

  • Erbitux (Cetuximab)
  
Pancreatic Cancer  
Metastatic  
Monoclonal Antibodies
Therapeutics that treat pancreatic cancer by binding to specific structures on the surface of the tumor and eliciting a reaction, which results in tumor degeneration.

Target Products:

  • Erbitux (Cetuximab)
  
Head/Neck Cancer  
Localized  
Monoclonal Antibodies
Therapeutics that bind to specific receptors on the surface of head and neck cancer cells that inhibit the cancer cells' growth and induce their death.

Target Products:

  • Erbitux (Cetuximab)
  
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.

Target Products:

  • Erbitux (Cetuximab)
  
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:

  • Anti-KIR (IgG4 Monoclonal Antibody)
  • Interleukin 21 (IL-21)

Target Products:

  • IMC-1121B (VEGFR-2 Monoclonal Antibody)
  • IMC-11F8 (EGFR Inhibitor Monoclonal Antibody)
  • IMC-A12 (VEGFR-2/IGF-1R Modulator)
  • IMC-18F1 (VEGFR-1 Monoclonal Antibody)
  • Erbitux (Cetuximab)
  • IMC-3G3 (Platelet-Derived Growth Factor Receptor Alpha Monoclonal Antibody Inhibitor (PDGFR-Alpha))
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.

Buyer Products:

  • Interleukin 21 (IL-21)

Target Products:

  • VE (Vascular Specific) Cadherin Inhibitors
  • VEGFR-3 Inhibitor
  • 20D7 (gp75 Antibody)
  • Neurophilin Monoclonal Antibody ?? Preclinical
  • TRP-1 Monoclonal Antibody ? ? Preclinical
  • Macrophage-Stimulating Protein Receptor (RON) Antibody
  • Fibroblast Growth Factor Receptor (FGFR) Antibodies
  • IMC-EB10 (FLT-3 Receptor Antibody)
Respiratory System/Thoracic  
Lung Cancer  
Non Small Cell Lung Cancer (NSCLC)  
Monoclonal Antibodies
Therapeutics that treat lung cancer by binding to specific structures on the surface of the tumor and eliciting a reaction, which results in tumor degeneration.

Target Products:

  • Erbitux (Cetuximab)
  
Surgery  
General  
Complications  
Hemorrhage  
Coagulating Agents (Coagulants)
Therapeutics that treat bleeding during a surgical procedure by promoting blood clotting.

Buyer Products:

  • NovoSeven (Recombinant Coagulation Factor VIIa)
  • rFactor XIII
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of surgical complications in early stages of clinical research where human subject is involved.

Buyer Products:

  • NN7128 (GlycoPEGylated Factor VIIa)
  • NovoSeven (Recombinant Coagulation Factor VIIa)
  
Weight Management  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of weight disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Liraglutide (NN 2211)
  
Medical Devices  
Drug Delivery  
Percutaneous (Subcutaneous/Intramuscular/Intravenous)  
Automatic Injectors
Pen-shaped medical devices used to contain and deliver liquid medications to a specified needle depth with a press of a button.

Buyer Products:

  • Levemir Flexpen
  • Norditropin NordiFlex/NordiFlex PenMate
  • NovoPen Delivery System Series
  • Novolin InnoLet
  • NovoLog FlexPen/Novolog MIX 70/30 FlexPen
  • NordiPen/NordiPenMate Systems
  
Needleless  
Disposable  
Hypodermic
Disposable needles for use below the skin.

Buyer Products:

  • NovoFine Insulin Series
  

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

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

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

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Genentech, Inc. n/a 76,524.954 24.48 22.97 6.04 5.74 6.38
MannKind Corporation n/a 353.966 n/a -1.25 17,400.00 69.33 2.17
Insmed Incorporated n/a 66.173 n/a n/a 6.02 n/a 90.15
Buyer
  Genentech, Inc. n/a 76,524.954 24.48 22.97 6.04 5.74 6.38
Sanofi-Aventis SA (ADR) n/a 69,560.263 11.04 7.21 1.92 1.85 n/a
Target
  Roche Holding Ltd. (ADR) n/a 108,079.079 12.92 12.42 2.75 2.49 4.72
Pfizer Inc. n/a 105,661.809 10.01 6.07 2.16 2.02 3.91
Novartis AG (ADR) n/a 102,165.127 13.51 11.94 2.41 2.45 3.47
GlaxoSmithKline plc (ADR) n/a 85,501.616 12.10 9.46 2.42 2.11 72.71
Genentech, Inc. n/a 76,524.954 24.48 22.97 6.04 5.74 6.38
Amgen, Inc. n/a 58,167.701 14.29 11.24 3.88 3.53 10.78
AstraZeneca plc (ADR) n/a 49,320.976 8.06 7.02 1.56 1.57 n/a
Wyeth n/a 45,150.724 10.09 9.05 1.94 1.83 3.02
OSI Pharmaceuticals, Inc. n/a 2,056.815 17.17 16.75 5.63 5.51 12.91
Onyx Pharmaceuticals, Inc. n/a 1,368.619 66.97 65.92 n/a 10.63 2.75
Regeneron Pharmaceuticals, Inc. n/a 1,111.085 n/a -15.34 4.49 4.66 2.54
Medarex inc. n/a 571.076 n/a -13.12 10.84 11.76 1.73
MannKind Corporation n/a 353.966 n/a -1.25 17,400.00 69.33 2.17
Ariad Pharmaceuticals, Inc. n/a 88.347 n/a -1.25 14.53 12.35 n/a
Insmed Incorporated n/a 66.173 n/a n/a 6.02 n/a 90.15
Rexahn Pharmaceuticals, Inc. n/a 52.664 n/a n/a 723.08 n/a 12.39
Peregrine Pharmaceuticals n/a 49.766 n/a -3.29 8.30 n/a 4.62
Spectrum Pharmaceuticals, Inc. n/a 39.759 n/a -2.33 1.92 3.77 0.86
Progen Pharmaceuticals Limited (USA) n/a 22.578 n/a n/a 31.22 n/a 0.27
YM BioSciences Inc. (USA) n/a 16.301 n/a n/a 2.75 n/a 0.44

- 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
Overlap
  Medarex inc. n/a 571.076 n/a -13.12 10.84 11.76 1.73
Buyer
  Neose Technologies, Inc. 69.30% 18.031 n/a n/a 1.73 n/a 2.30
MDRNA, Inc. 18.00% 8.124 n/a -0.20 0.92 n/a 1.53
Crucell N.V. (ADR) n/a 792.999 n/a -165.71 2.51 2.76 2.12
Medarex inc. n/a 571.076 n/a -13.12 10.84 11.76 1.73
ZymoGenetics, Inc. n/a 217.203 n/a -1.56 3.71 4.02 7.80
Sangamo Biosciences, Inc. n/a 87.286 n/a -2.96 7.20 6.25 1.62
Transition Therapeutics Inc. n/a 49.913 n/a -2.66 38.48 26.34 1.83
Emisphere Technologies, Inc. n/a 18.205 n/a n/a 33.34 n/a n/a
Aradigm Corporation n/a 14.871 n/a -0.61 54.91 10.90 1.08
Target
  Johnson & Johnson n/a 161,896.038 12.84 12.32 2.51 2.40 9.43
Sanofi-Aventis SA (ADR) n/a 69,560.263 11.04 7.21 1.92 1.85 n/a
Medarex inc. n/a 571.076 n/a -13.12 10.84 11.76 1.73
Dyax Corp. n/a 151.068 n/a -2.11 5.01 6.07 n/a
Princeton University n/a n/a n/a n/a n/a n/a n/a
Ludwig Institute For Cancer Research n/a n/a n/a n/a n/a n/a n/a
Lonza Group Ltd. n/a n/a n/a n/a n/a n/a n/a
University Of California 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
  Pfizer Inc. n/a 105,661.809 10.01 6.07 2.16 2.02 3.91
Cephalon, Inc. n/a 4,781.609 18.74 15.06 2.54 2.45 13.75
Enzon Pharmaceuticals, Inc. n/a 208.585 n/a -12.29 1.06 1.30 n/a
Amicus Therapeutics, Inc. n/a 190.988 n/a -5.09 15.40 12.47 2.30
Target
  Bristol Myers Squibb Co. 84.30% 37,723.140 9.64 11.41 1.82 1.83 5.48
Merck KGaA 15.70% n/a n/a n/a n/a n/a n/a
Repligen Corporation n/a 115.383 23.17 22.80 4.32 n/a 1.59

- 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
  Medarex inc. n/a 571.076 n/a -13.12 10.84 11.76 1.73
Buyer
  Pfizer Inc. n/a 105,661.809 10.01 6.07 2.16 2.02 3.91
Cephalon, Inc. n/a 4,781.609 18.74 15.06 2.54 2.45 13.75
Crucell N.V. (ADR) n/a 792.999 n/a -165.71 2.51 2.76 2.12
Medarex inc. n/a 571.076 n/a -13.12 10.84 11.76 1.73
ZymoGenetics, Inc. n/a 217.203 n/a -1.56 3.71 4.02 7.80
Enzon Pharmaceuticals, Inc. n/a 208.585 n/a -12.29 1.06 1.30 n/a
Amicus Therapeutics, Inc. n/a 190.988 n/a -5.09 15.40 12.47 2.30
Sangamo Biosciences, Inc. n/a 87.286 n/a -2.96 7.20 6.25 1.62
Target
  Johnson & Johnson n/a 161,896.038 12.84 12.32 2.51 2.40 9.43
Genentech, Inc. n/a 76,524.954 24.48 22.97 6.04 5.74 6.38
Sanofi-Aventis SA (ADR) n/a 69,560.263 11.04 7.21 1.92 1.85 n/a
Bristol Myers Squibb Co. n/a 37,723.140 9.64 11.41 1.82 1.83 5.48
Cardinal Health, Inc. n/a 10,871.083 8.71 7.47 0.12 0.10 6.58
Medarex inc. n/a 571.076 n/a -13.12 10.84 11.76 1.73
Genomic Health, Inc. n/a 488.975 n/a -29.08 4.95 4.40 7.47
Dyax Corp. n/a 151.068 n/a -2.11 5.01 6.07 n/a
Repligen Corporation n/a 115.383 23.17 22.80 4.32 n/a 1.59
Government - United States n/a n/a n/a n/a n/a n/a n/a
Ludwig Institute For Cancer Research n/a n/a n/a n/a n/a n/a n/a
Merck KGaA n/a n/a n/a n/a n/a n/a n/a
UCB S.A. n/a n/a n/a n/a n/a n/a n/a
University Of California n/a n/a n/a n/a n/a n/a n/a
Lonza Group Ltd. n/a n/a n/a n/a n/a n/a n/a
Princeton University 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 7,455.1 645.6 8,100.7
Other Revenue 0.0 0.0 0.0
Total Revenue 7,455.1 645.6 8,100.7
Cost of Revenue 1,727.1 391.7 2,118.8
SG&A Expense 2,561.8 97.6 2,659.5
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 1,554.1 0.0 1,554.1
Interest Expense 0.0 0.0 0.0
Other Operating Expense -51.8 0.0 -51.8
Unusual Expense (Income) -55.2 182.3 127.1
Total Expenses 5,736.2 671.6 6,407.8
Operating Income 1,719.0 -26.0 1,692.9
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 143.6 24.2 167.8
Other, Net 0.0 0.0 0.0
Income Before Taxes 1,862.6 -1.9 1,860.7
Income Taxes 455.0 59.0 514.0
Income After Taxes 1,407.6 -60.9 1,346.7
Net Income - Excl. Xord. Items 1,407.6 -60.9 1,346.7
Net Income - Incl. Xord. Items 1,407.6 -60.9 1,346.7
Income Avail. to Common 1,407.6 -60.9 1,346.7
Share Items
Basic Avg. Shares Outstanding 614.2 87.8 702.0
Basic EPS - Excl. Xord. Items 2.29 n/a 1.92
Basic EPS - Incl. Xord. Items 2.29 n/a 1.92
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 618.7 90.2 708.8
F.D. EPS - Excl. Xord. Items 2.28 n/a 1.90
F.D. EPS - Incl. Xord. Items 2.28 n/a 1.90
Dividends Per Common Share 0.76 0.00 0.76
Balance Sheet
Assets
Cash and Equivalents 1,212.8 816.8 2,029.6
ST Investments 280.3 204.7 484.9
Accounts Receivable 1,546.7 90.2 1,636.9
Inventory 1,568.4 139.8 1,708.2
Prepayments and Advances 0.0 2.9 2.9
Other Current Assets 0.0 26.0 26.0
Current Assets 4,608.1 1,280.3 5,888.4
PPE 0.0 542.0 542.0
Accum D&A 0.0 -148.6 -148.6
PPE, Net 3,196.4 393.3 3,589.7
Goodwill & Intangibles 142.8 0.0 142.8
Long Term Investments 68.1 84.6 152.7
Other Assets 0.0 0.0 0.0
Other LT Assets 301.2 71.4 372.6
Total Assets 8,316.5 1,829.7 10,146.2
Liabilities
Accounts Payable 257.9 28.2 286.1
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 0.0 78.9 78.9
ST Debt 136.7 0.0 136.7
Curr Port of LTD & Cap Lease Oblg 0.0 600.0 600.0
Other (Current) Liabilities 1,696.2 103.8 1,800.0
Current Liab. 2,090.8 810.9 2,901.6
LT Debt 165.3 0.0 165.3
Total LT Debt 165.3 0.0 165.3
Deferred Taxes 377.7 0.0 377.7
Other LT Liab. 221.0 121.8 342.9
Total Liabilities 2,854.8 932.7 3,787.5
Shareholders Equity
Common Stock 107.6 0.1 107.7
Additional Paid in Capital 0.0 992.4 992.4
Retained Earnings 5,422.3 -71.5 5,350.8
Treasure Stock -3.9 -28.8 -32.7
Other Equity -64.3 4.7 -59.7
Total Equity 5,461.7 897.0 6,358.7
Total Liab. & Equity 8,316.5 1,829.7 10,146.2
Shares Outstanding 634.0 88.6 722.6
Cash Flow
Operating Cash Flow
CF Net Income 1,407.6 -60.9 1,346.7
CF Depreciation 0.0 33.5 33.5
CF Deferred Taxes 0.0 66.4 66.4
Other Non-Cash Items 1,147.1 122.7 1,269.8
Change in Working Capital -490.9 -77.3 -568.3
Total Cash From Operating Activities 2,063.8 84.4 2,148.1
Investing Cash Flow (not calculated)
Capital Expenditures -337.1 -35.9 -373.0
Other Investing Cash Flows 182.8 274.7 457.5
Total Cash From Investing Activities -154.3 238.8 84.5
Financing Cash Flow (not calculated)
Dividends Paid 0.0 0.0 0.0
Purchase Or Sale of Stock 0.0 81.7 81.7
Purchase and Retirement of Debt 0.0 0.0 0.0
Other Financing Cash Flow -1,402.0 -2.4 -1,404.5
Total Cash From Financing Activities -1,402.0 79.3 -1,322.8
Exchange Rate Effects -1.5 0.0 -1.5
Net Change in Cash 505.9 402.5 908.4
Cash Taxes Paid 442.6 -0.4 442.1
Cash Interest Paid 0.0 8.2 8.2