Summary

Other Scenarios:

Buyer: Perrigo Company (PRGO) Last Price: 32.28 Market Cap.: 2.98B
Target: PDL BioPharma Inc. (PDLI) Last Price: 9.40 Market Cap.: 1.12B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 844
Biopharmaceuticals 368
Medical Devices   225
Nutritional Health   28
Outsourced Services 48

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

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

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

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 121)
  • Promethazine HCl Suppositories
  • Loratadine
  • Cetirizine Hydrochloride Oral Solution/Syrup
  • Levocetirizine
Target (Total: 8)
  • Nuvion (Visilizumab)
  • Daclizumab (Monoclonal Antibody)
  • Therapeutic Antibody Candidates
  • Volociximab/M200 (Chimeric Monoclonal Antibody)
Buyer
  • Pregnancy Test Kits (Equate)
  • A-Shapes Chewables
  • Oyster Shell Calcium
  • Nutritional Drinks
Target
  • Humanized Antibody Technology

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 0)

n/a
Target (Total: 2)
  • Seattle Genetics, Inc. (SGEN)
  • Highland Distressed Opportunities, Inc (HCD)
Buyer (Total: 15)
  • Wal-Mart Stores, Inc. (WMT)
  • CVS Caremark Corporation (CVS)
  • Walgreen Company (WAG)
  • Costco Wholesale Corporation (COST)
Target (Total: 12)
  • Genentech, Inc. (DNA)
  • AstraZeneca plc (ADR) (AZN)
  • Roche Holding Ltd. (ADR) (RHHBY)
  • Wyeth (WYE)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 6,200 887
Revenue Per Employee 310,680.8 348,577.5
Total Revenue 480.2 77.3
Total Expenses 421.6 64.3
Other Revenue 0.0 0.0
Cost of Revenue 336.0 0.0
SG&A Expense 67.3 18.5
Research & Development 18.2 44.7
Other Operating Expense 0.0 0.0
Operating Income 58.7 13.1
Unusual Income 0.0 1.0
LT Debt to Capital 50.15 88.93
Fwd P/E 16.44 12.78
Fwd P/Rev 1.40 3.62
Book Value 888.3 66.4
Curr Portion of LTD/Cap Lease 21.2 0.8

Individual Company Summary

Focused

Buyer

Focused (): Healthcare > Biopharmaceuticals

Target

Focused (): Healthcare > Biopharmaceuticals

Business Description

Buyer

Perrigo Company is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and prescription (Rx) pharmaceuticals, nutritional products, active pharmaceutical ingredients (API) and consumer products. The Company?s three segments are Consumer Healthcare, Rx Pharmaceuticals and API. The Company has other category that includes two operating segments: Israel Consumer Products and Israel Pharmaceutical and Diagnostic Products. In the United States, its operations are conducted through L. Perrigo Company, Perrigo Company of South Carolina Inc. and Perrigo New York, Inc. Outside the United States, its operations are conducted through Perrigo Israel Pharmaceuticals Ltd., Chemagis Ltd., Quimica y Farmacia S.A. de C.V., Wrafton Laboratories Limited, Perrigo U.K. Limited and Galpharm Healthcare Ltd. In October 2008, the Company acquired Laboratorios Diba, S.A. In November 2008, it announced that it has acquired Unico Holdings.

Target

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

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 30.11 100
Operating Margin % 10.91 23.28
Quick Ratio 1.27 8.11
Current Ratio 2.38 8.34
Coverage Ratio -0.09 0.02
Total Assets 2,493.4 718.2
Return on Equity % 15.73 98.81
Return on Assets % 5.6 9.13
Cash+ ST Inv. Per Share 2.64 3.63
Total Debt 914.6 533.8
Total Debt to Equity % 102.97 804.19
Total Debt to Tangible Equity % 147.11 911.61
Debt to Asset % 36.68 74.32

Product Summary

Sector Buyer Target
Healthcare
Biopharmaceuticals
Allergies
The Allergies Subsector includes therapeutics that treat exaggerated immune reaction induced by exposure to a foreign substance.
  
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
  
Dermatology
The Dermatology Subsector includes therapeutics that treat disorders affecting the skin.
  
Digestive System
The Digestive System Subsector includes therapeutics that treat disorders affecting the digestive system.
Endocrinology/Metabolism
The Endocrinology/Metabolism Subsector includes therapeutics that treat metabolic disorders and conditions resulting from the dysfunction of hormone secreting glands.
  
Hematology
The Hematology Subsector includes therapeutics that treat blood-based diseases and disorders.
  
Immunology
The Immunology Subsector includes therapeutics that treat disorders affecting the immune system.
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Musculoskeletal System
The Musculoskeletal System Subsector includes therapeutics that treat disorders of the bones, joints, ligaments, tendons, and soft tissue involved with them.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
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.
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.
  
Transplantation
The Transplantation Subsectors includes therapeutics that treat rejection and infection associated with tissue transplantation into the human body.
  
Medical Devices  
Clinical Diagnostics
The Clinical Diagnostics Subsector includes medical devices that analyze human body specimens within a medical setting. These devices, including equipment, biological and chemical reagents are primarily used for the diagnosis of diseases.
  
Nutritional Health  
Dietary/Naturopathic Supplements
The Dietary/Naturopathic Subsector includes nutritional biochemicals and nutrients derived from natural sources that are intended to support health.
  
Nutraceuticals
The Nutraceuticals Subsector includes products in a food, or part of a food, that may provide medical or health benefits.
  
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 Discovery Services
The Drug Discovery Services Subsector includes companies that provide biopharmaceutical companies with novel biological targets and drug leads.
  

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

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

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

Product Details

Sector Buyer Target
Healthcare
Biopharmaceuticals
Allergies  
Dermatology  
Antihistamines
Products that inhibit inflammation by blocking the action of histamines on tissues.

Buyer Products:

  • Promethazine HCl Suppositories
  • Loratadine
  
Upper Respiratory  
Antihistamines
Therapeutics that inhibit the inflammation by blocking the action of histamines on tissues.

Buyer Products:

  • Loratadine
  • Promethazine HCl Suppositories
  • Cetirizine Hydrochloride Oral Solution/Syrup
  • Levocetirizine
  • Diphedryl (Diphenhydramine Hydrochloride)
  
Antihistamines/Decongestants
Therapeutics that block the inflammatory action of histamines and relieve or prevent coughs.

Buyer Products:

  • Cetirizine Hydrochloride/Pseudoephedrine HCl Extended Release
  
Antihistamines/Decongestants/Analgesics/Antipyretics
Therapeutics that treat allergic reactions by suppressing inflammation, reducing mucous build up, relieving pain, and reducing fever.

Buyer Products:

  • Effervescent Cold Relief (Chlorpheniramine Maleate/Pseudoephedrine HCL/Acetaminophen)
  
Antihistamines/Decongestants/Antitussives
Therapeutics that treat allergic reactions by suppressing inflammation, reducing mucous build up, and relieving or preventing coughs.

Buyer Products:

  • Acetaminophen/Dextromethorpan Hydrobromide/Doxylamine Succinate
  
Cardiovascular System  
Vascular Disorders  
Coronary Artery Disease (CAD)  
HMG CoA Reductase Inhibitors (Statins)
Therapeutics that treat the narrowing or hardening of the coronary arteries of the heart muscle by preventing the synthesis of cholesterol.

Buyer Products:

  • Simvastatin
  
Dermatology  
Acne  
Vulgaris  
Antibacterial Agents  
Macrolides
Therapeutics that treat acne vulgaris caused by bacterial infection by inhibiting RNA-dependent bacterial protein synthesis.

Buyer Products:

  • Benzoyl Peroxide
  • Ery 2% Pads
  • Erythromycin-Benzoyl Peroxide
  
Retinoids/Vitamin A Analogs
Therapeutics that treat acne by helping in cell differentiation as well as prevent cell proliferation.

Buyer Products:

  • Tretinoin
  
Aging Disorders  
Photoaging  
Retinoids/Vitamin A Analogs
Therapeutics that treat the effects of aging and sun exposure by promoting the growth and differentiation of epithelial cells.

Buyer Products:

  • Tretinoin
  
Hair Disorders  
Alopecia (Hair Loss)  
Vasodilatory Agents
Therapeutics that treat hair loss by dilating blood vessels.

Buyer Products:

  • Minoxidil
  
Lesion/Scaling Disorders  
Chronic Urticaria  
Antihistamines
Therapeutics that treat allergic skin conditions by blocking the action of histamines.

Buyer Products:

  • Levocetirizine
  • Cetirizine Hydrochloride Oral Solution/Syrup
  
Dermatitis  
Atopic (Eczema)  
Emollients
Topical therapeutics that soothe and soften the skin.

Buyer Products:

  • Urea Cream/Lotion
  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat atopic dermatoses by inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site.

Buyer Products:

  • Hydrocortisone Cream/Ointment
  • Hydrocortisone Acetate
  • Triamcinolone Acetonide
  • Hydrocortisone Valerate
  • Desonide
  
Seborrheic (Dandruff)  
Anti-Mitotic Agents
Therapeutics that block the mitotic division of cells.

Buyer Products:

  • Selenium Sulfide
  
Antifungal Agents  
Imidazoles
Therapeutics that treat and prevent skin diseases caused by fungi.

Buyer Products:

  • Ciclopirox Olamine Cream
  • Ciclopirox Topical Solution/Suspension
  • Ketoconazole
  
Para Aminobenzoic Acid (PABA) Inhibitors
Therapeutics that treat bacterial infections of the skin by inhibiting a bacterial enzyme responsible for synthesis of folic acid.

Buyer Products:

  • Seb-Prev Cream 10% Sodium Sulfacetamide
  
Dermatoses  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation by inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site.

Buyer Products:

  • Desoximetasone
  • Desonide
  • Fluticasone Propionate
  • Halobetasol Propionate
  • Hydrocortisone Cream/Ointment
  • Hydrocortisone Acetate
  • Hydrocortisone Valerate
  • Triamcinolone Acetonide
  • Clobetasol Propionate Foam
  • Betamethasone Dipropionate
  • Mometasone Furoate
  • Fluocinonide Cream
  
Ichthyosis  
Emollients
Topical therapeutics that soothe and soften the skin.

Buyer Products:

  • Urea Cream/Lotion
  
Lactic Acid Compounds
Lactic Acid containing therapeutics that treat a disorder characterized by noninflammatory scaling of the skin.

Buyer Products:

  • Ammonium Lactate
  
Pemphigus Vulgaris  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat Pemphigus Vulgaris by suppressing inflammation through inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site.

Buyer Products:

  • Hydrocortisone Cream/Ointment
  • Fluticasone Propionate
  • Triamcinolone Acetonide
  • Betamethasone Dipropionate
  • Desonide
  • Hydrocortisone Valerate
  
Pruritus  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation by inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site.

Buyer Products:

  • Fluocinonide Cream
  • Hydrocortisone Acetate
  
Psoriasis  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation by inhibiting the accumulation of inflammatory cells like leucocytes and macrophages at the inflammation site.

Buyer Products:

  • Desonide
  • Fluticasone Propionate
  • Hydrocortisone Cream/Ointment
  • Betamethasone Dipropionate
  • Hydrocortisone Valerate
  • Triamcinolone Acetonide
  • Hydrocortisone Acetate
  
Pigmentation Disorders  
Hyperpigmentation  
Enzymatic Oxidation Inhibitors
Therapeutics that treat disorders characterized by darkening of the skin by inhibiting metabolic processes of pigment producing skin cells.

Buyer Products:

  • Hydroquinone
  
Retinoids/Vitamin A Analogs
Therapeutics that treat disorders characterized by darkening of skin by promoting cell differentiation as well as preventing proliferation of cells.

Buyer Products:

  • Tretinoin
  
Digestive System
Gastrointestinal Tract Disorders
Gastroesophageal Disorders  
Abdominal Gas  
Gas Bubble Surface Tension Reducing Agents
Therapeutics that treat abdominal gas by reducing the surface tension of gas bubbles in the bowels.

Buyer Products:

  • Simethicone Drops
  • Gas Relief Softgels (Simethicone)
  
Acid Indigestion/Heartburn  
Acid Neutralizing Agents
Therapeutics that treat heartburn by neutralizing stomach acid.

Buyer Products:

  • Liquid Antacid (Magnesium Hydroxide/Aluminium Hydroxide)
  • Liquid Antacid (Calcium Carbonate/Magnesium Hydroxide)
  • Effervescent Antacid
  
Acid Neutralizing Agents/H2 Receptor Antagonists
Therapeutics that treat heartburn by neutralizing stomach acid and blocking the action of histamine at the H2 receptors.

Buyer Products:

  • Famotidine/Calcium Carbonate/Magnesium Hydroxide Chewable Tablets
  
H2 Receptor Antagonists
Therapeutics that treat indigestion by blocking the action of histamine at the H2 receptors.

Buyer Products:

  • Ranitidine Acid Reducer
  • Cimetidine Acid Blocker Tablets
  • Famotidine
  
Proton Pump Inhibitors
Therapeutics that treat heartburn by inhibiting the action of the membrane protein involved in the final steps of triggering acid release into the stomach.

Buyer Products:

  • Omeprazole Delayed-Release OTC
  
Intestinal Disorders
Constipation  
Chronic  
Bulk-Forming Agents
Therapeutics that treat constipation by stimulating the formation of bodies of feces that are able to be passed through the bowels.

Buyer Products:

  • Natural Vegetable Powder (Psyllium Hydrophilic Mucilloid)
  • Fiber Therapy Powder (Calcium Polycarbophil)
  • Fiber Laxative Caplets (Calcium Polycarbophil)
  
Impacted Bowels  
Hyperosmotic Agents
Therapeutics that treat constipation by causing fluid overload, which in turn induces liquid stool within a short period of time.

Buyer Products:

  • Milk Of Magnesia (Magnesium Hydroxide)
  
Stimulants
Therapeutics that treat constipation by stimulating the contraction of bowels by addition of fiber or other substances.

Buyer Products:

  • Bisacodyl Laxative
  • Senna Laxative Tablets (Sennosides)
  • Women's Laxative Tablets (Bisacodyl)
  
Stool Softeners
Therapeutics that treat constipation by increasing the absorption of moisture into feces to form a softer body.

Buyer Products:

  • Laxative/Stool Softener (Docusate Sodium)
  
Irregular Bowel Movements  
Bulk-Forming Agents
Therapeutics that treat constipation by stimulating the formation of bodies of feces that are able to be passed through the bowels.

Buyer Products:

  • Fiber Therapy Powder (Calcium Polycarbophil)
  • Fiber Laxative Caplets (Calcium Polycarbophil)
  • Natural Vegetable Powder (Psyllium Hydrophilic Mucilloid)
  
Stimulants
Therapeutics that treat constipation by stimulating the contraction of bowels by addition of fiber or other substances.

Buyer Products:

  • Women's Laxative Tablets (Bisacodyl)
  • Senna Laxative Tablets (Sennosides)
  • Bisacodyl Laxative
  
Diarrhea  
Antiperistaltic Agents
Therapeutics that treat diarrhea by inhibiting the wavelike motion of the digestive tract.

Buyer Products:

  • Loperamide Hydrochloride Liquid/Caplets
  
Antisecretory Agents
Therapeutics that treat diarrhea by bringing fluid movement within the intestine to normal levels.

Buyer Products:

  • Stress Liquid & Caplets (Bismuth Subsalicylate)
  
Inflammatory Bowel Disease (IBD)
Crohn`s Disease  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation associated with Crohn's Disease by preventing the accumulation of inflammatory cells like leukocytes and macrophages to the inflammation site.

Buyer Products:

  • Prednisone
  
Ulcerative Colitis
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat ulcerative colitis by inhibiting the actions of the two enzymes, cyclooxygenase and lipoxygenase.

Buyer Products:

  • Mesalamine Rectal Suspension
  
Monoclonal Antibodies
Therapeutics that treat ulcerative colitis through modulation of immune pathways implicated in the progression of the disease.

Target Products:

  • Nuvion (Visilizumab)
  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that counteract or suppress inflammation associated with ulcerative colitis by preventing the accumulation of inflammatory cells like leukocytes and macrophages to the inflammation site.

Buyer Products:

  • Prednisone
  
Rectal Disorders  
Hemorrhoids  
Alpha Adrenergic Receptor Agonists
Therapeutics that treat hemorrhoids by stimulating the alpha adrenergic receptors.

Buyer Products:

  • Hemorrhoidal Ointment & Cream (Phenylephrine Hydrochloride)
  • Hemorrhoidal Suppositories (Phenylephrine Hydrochloride)
  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat or suppress inflammation by preventing the accumulation of inflammatory cells like leucocytes and macrophages to the inflammation sites.

Buyer Products:

  • Hydrocortisone Cream/Ointment
  • Hemorrhoidal Ointment & Cream (Phenylephrine Hydrochloride)
  • Hemorrhoidal Suppositories (Phenylephrine Hydrochloride)
  
Proctitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat proctitis by inhibiting the actions of the two enzymes, cyclooxygenase and lipoxygenase.

Buyer Products:

  • Mesalamine Rectal Suspension
  
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.

Target Products:

  • Nuvion (Visilizumab)
  
Endocrinology/Metabolism  
Diabetes  
Non-Insulin Dependent Diabetes Mellitus (NIDDM)/Type 2 Diabetes  
Insulin Stimulating Agents (Sulfonylureas)
Therapeutics that treat non-insulin dependent diabetes by stimulating the secretion of insulin.

Buyer Products:

  • Glimepiride
  
Intermediary Metabolism Disorders  
Hypercholesterolemia  
HMG CoA Reductase Inhibitors (Statins)
Therapeutics that block cholesterol synthesis by binding a key enzyme in the synthesis process.

Buyer Products:

  • Simvastatin
  
Hyperlipidemia  
HMG CoA Reductase Inhibitors (Statins)
Therapeutics that block cholesterol synthesis by binding a key enzyme in the synthesis process.

Buyer Products:

  • Simvastatin
  
Plasma Triglyceride Reducing Agents (Fibrate Compounds)
Therapeutics that reduce the levels of very low-density lipoprotein and increase levels of high-density lipoproteins.

Buyer Products:

  • Gemfibrozil
  
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:

  • Simvastatin
  
Hyperlipidemia  
HMG CoA Reductase Inhibitors (Statins)
Therapeutics that block cholesterol synthesis by binding a key enzyme in the synthesis process.

Buyer Products:

  • Simvastatin
  
Plasma Triglyceride Reducing Agents (Fibrate Compounds)
Therapeutics that reduce the levels of very low-density lipoprotein and increase levels of high-density lipoproteins.

Buyer Products:

  • Gemfibrozil
  
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:

  • Aspirin
  • Ibuprofen/Orange Ibuprofen Tablets/Caplets
  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Monoclonal Antibodies
Therapeutics that treat ulcerative colitis through modulation of immune pathways implicated in the progression of the disease.

Target Products:

  • Nuvion (Visilizumab)
  
Psoriasis  
Steroidal Anti-Inflammatory Drugs (SAID)
Therapeutics that treat a chronic autoimmune disease characterized by softening, separating, causing the shedding of the horny layer of the skin with a steroidal compound.

Buyer Products:

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

Target Products:

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

Target Products:

  • Therapeutic Antibody Candidates
  
Infectious Diseases  
Arachnids  
Scabies  
Pryethroid Agents
Therapeutics that treat parasitic infections of the skin caused by an itch mite burrowing into the skin by paralyzing and killing the mite.

Buyer Products:

  • Permethrin
  
Bacterial  
Antibacterial Agents  
Broad Spectrum  
Antibiotics  
Aminoglycosides
Therapeutics that treat a wide variety of infections by inhibiting bacterial protein synthesis.

Buyer Products:

  • Gentamicin Sulfate
  
Lincosamides
Therapeutics that treat a wide variety of infections by inhibiting bacterial protein synthesis.

Buyer Products:

  • Clindamycin Phosphate
  
Pseudominic Acids
Therapeutics that treat a wide variety of infections by inhibiting bacterial protein synthesis and RNA synthesis.

Buyer Products:

  • Mupirocin Ointment
  
Narrow Spectrum  
Otolaryngology (Ear/Nose/Throat)  
Otitis Media  
Analgesics/Sodium Channel Blocking Agents
Therapeutics that treat pain associated with infection and inflammation of the middle ear space and ear drum by blocking the movement of sodium ions and thus the initiation and conduction of nerve impulses across the neuronal membrane.

Buyer Products:

  • A/B Otic Drops
  
Mycological (Fungal)  
Antifungal Agents  
Broad Spectrum  
Azoles  
Imidazoles
Therapeutics that treat fungal infections by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Econazole Nitrate
  
Narrow Spectrum  
Dermatology  
Onychomycosis (Nail)  
Azoles  
Triazoles
Therapeutics that treat fungal infections of the nail by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ciclopirox Topical Solution/Suspension
  
Tinea Corporis (Ringworm)  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the skin characterized by scaly, red rings by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ciclopirox Topical Solution/Suspension
  • Ciclopirox Olamine Cream
  
Tinea Cruris (Jock Itch)  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the groin and perineum by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ciclopirox Olamine Cream
  • Ciclopirox Topical Solution/Suspension
  
Tinea Pedis  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the feet by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ciclopirox Olamine Cream
  • Ciclopirox Topical Solution/Suspension
  
Tinea Versicolor  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of skin exposed to the sun characterized by patches of depigmentation by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Ciclopirox Olamine Cream
  • Ciclopirox Topical Solution/Suspension
  
Digestive System  
Mucous  
Candidiasis  
Polyene Macrolide Antibiotics
Therapeutics that treat fungal infections of the secretory lining of the tissues caused by a yeast by binding to sterols on the fungal cell membrane which results in the loss of potassium and other small molecules from the cell.

Buyer Products:

  • Nystatin
  
Urology  
Vaginal Candidiasis  
Azoles  
Imidazoles
Therapeutics that treat fungal infections of the female reproductive organ caused by yeast by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Miconazole
  • Tioconazole
  • Miconazole Nitrate Vaginal Cream
  
Triazoles
Therapeutics that treat fungal infections of the female reproductive organ caused by yeast by increasing permeability of the cell wall and causing a toxic build up of hydrogen peroxide.

Buyer Products:

  • Terconazole Suppositories
  
Viral  
DNA Viruses  
Papillomavirus  
Verrucae (Warts)  
Keratolytic Agents
Therapeutics that treat warts by softening, separating, and causing the shedding of skin.

Buyer Products:

  • Salicylic Acid
  
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:

  • Naproxen
  
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:

  • Naproxen
  • Ibuprofen/Orange Ibuprofen Tablets/Caplets
  • Aspirin
  
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:

  • Naproxen
  • Aspirin
  • Ibuprofen/Orange Ibuprofen Tablets/Caplets
  
Neurology
Neurological Disorders  
Headaches  
Chronic  
Analgesics/Antipyretics/Antihistamines
Therapeutics that treat headaches through management of pain, fever and the proliferation of molecules that causes inflammation.

Buyer Products:

  • Pain Reliever & Sleep Aid (Acetaminophen/Diphenhydramine Hydrochloride)
  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of nervous system and mental disorders in early stages of clinical research where human subject is involved.

Target Products:

  • Daclizumab (Monoclonal Antibody)
  
Psychiatric Disorders  
Anxiety  
Obsessive Compulsive Disorder (OCD)  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat Anxiety by selectively preventing the removal of serotonin.

Buyer Products:

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

Buyer Products:

  • Sertraline 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:

  • Sertraline 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:

  • Sertraline Hydrochloride
  
Mood Disorders  
Depression  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat depression by selectively preventing the removal of serotonin.

Buyer Products:

  • Sertraline Hydrochloride
  • Citalopram HBr
  
Premenstrual Dysphoric Disorders  
Selective Serotonin Reuptake Inhibitors (SSRI)
Therapeutics that treat premenstrual dysphoric disorders by selectively preventing the removal of serotonin.

Buyer Products:

  • Sertraline Hydrochloride
  
Sleep Disorders  
Insomnia  
Antihistamines
Therapeutics that treat insomnia by preventing the functions of histamine on tissues.

Buyer Products:

  • Sleep Aid Tablets (Diphenhydramine Hydrochloride)
  • Night Time Sleep Aid (Diphenhydramine Hydrochloride)
  
Antihistamines/Analgesics/Antipyretics
Therapeutics that treat insomnia by preventing the functions of histamine on tissues as well as treating pain and suppressing fever.

Buyer Products:

  • Ibuprofen PM (Ibuprofen/Diphenhydramine Citrate)
  • Pain Reliever & Sleep Aid (Acetaminophen/Diphenhydramine Hydrochloride)
  
Oncology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment and management of cancer in early stages of clinical research where human subject is involved.

Target Products:

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

Target Products:

  • Therapeutic Antibody Candidates
  
Pain Management  
Non-Narcotics  
Analgesics Combinations  
Analgesics/Antipyretics
Therapeutics that treat pain and fever by inhibiting the action of prostaglandins.

Buyer Products:

  • Enteric-Coated Aspirin (Adult Low Strength, Regular, & Extra Strength)
  • Pain Reliever Without Aspirin (Acetaminophen)
  • Adult Low Strength Chewable Aspirin
  
Analgesics/Antipyretics/Antihistamines
Therapeutics that treat fever and pain by inhibiting the action of prostaglandins, as well as suppressing inflammation.

Buyer Products:

  • Pain Reliever & Sleep Aid (Acetaminophen/Diphenhydramine Hydrochloride)
  
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:

  • Junior Strength Ibuprofen Tablets
  • Children's Ibuprofen Oral Suspension/ Infant's Ibuprofen Oral Drops
  • Ibuprofen/Orange Ibuprofen Tablets/Caplets
  • Naproxen Sodium
  • Aspirin
  • Effervescent Pain Relief (Aspirin/Sodium Bicarbonate/Citric Acid)
  
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.

Target Products:

  • Daclizumab (Monoclonal Antibody)
  
Upper Respiratory Tract Disorders  
Coughs/Colds  
Antihistamines
Therapeutics that inhibit the inflammation by blocking the action of histamines on tissues.

Buyer Products:

  • Promethazine HCl Suppositories
  • Levocetirizine
  • Diphedryl (Diphenhydramine Hydrochloride)
  • Loratadine
  • Cetirizine Hydrochloride Oral Solution/Syrup
  
Antihistamines/Decongestants/Analgesics/Antipyretics
Therapeutics that treat coughs and colds by suppressing inflammation, reducing mucous build up, relieving pain, and reducing fever.

Buyer Products:

  • Effervescent Cold Relief (Chlorpheniramine Maleate/Pseudoephedrine HCL/Acetaminophen)
  
Antihistamines/Decongestants/Antitussives
Therapeutics that treat coughs and colds by suppressing inflammation, reducing mucous build up, and relieving or preventing coughs.

Buyer Products:

  • Acetaminophen/Dextromethorpan Hydrobromide/Doxylamine Succinate
  
Antitussives
Therapeutics that relieve or prevent coughs.

Buyer Products:

  • Tussin Cough Syrup (Dextromethorphan)
  
Decongestants
Therapeutics that treat coughs and colds by reducing mucous build up.

Buyer Products:

  • Nasal Spray (Oxymetazoline)
  • Pseudoephedrine Tablets & Liquid/Pseudoephedrine Extended-Release Tablets
  • Phenylephrine Hcl
  
Decongestants/Antitussives/Expectorants/Analgesics/Antipyretics
Therapeutics that treat coughs and colds by reducing mucous build up, suppressing the cough, helping in the ejection of mucous and helping relieve fever and pain.

Buyer Products:

  • Day Time Liquid Caps (Pseudoephedrine HCl/Dextromethorphan HBr/Guaifenesin/Acetaminophen)
  
Expectorants
Therapeutics that treat coughs and colds by helping in the ejection of mucous.

Buyer Products:

  • Guaifenesin Extended Release
  
Toxicology  
Substance Abuse  
Withdrawal  
Nicotine (Smoking Cessation)  
Nicotinic Receptor Agonists
Therapeutics that treat nicotine withdrawal by activating nicotine receptors thus reducing cravings for nicotine.

Buyer Products:

  • Nicotine Polacrilex Coated Gum
  • Nicotine Polacrilex Gum/Nicotine Polacrilex Lozenges
  
Transplantation  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the management of rejection and infection in early stages of clinical research where human subject is involved.

Target Products:

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

Target Products:

  • Zenapax (Daclizumab)
  
Medical Devices  
Clinical Diagnostics  
Chemistry  
Home Testing  
Urine  
Pregnancy
Home pregnancy testing kits.

Buyer Products:

  • Pregnancy Test Kits (Equate)
  
Nutritional Health  
Dietary/Naturopathic Supplements  
Children`s Health
Products consisting of dietary/naturopathic supplements that are intended to support infants and children's health.

Buyer Products:

  • A-Shapes Chewables
  
General Health
Products consisting of dietary/naturopathic supplements that are intended to support general health.

Buyer Products:

  • Oyster Shell Calcium
  • Nutritional Drinks
  • Flax Seed Oil
  • Ginkgo Biloba
  • Cranberry Caplets
  • Vitamins/Minerals
  • Glucosamine Chondroitin
  • Calcium Citrate
  • Calcium 600
  • Antioxidant with Zinc
  • Multiple Vitamins
  • Therapeutic M
  • Century
  
Men`s Health
Products consisting of dietary/naturopathic supplements that are intended to support men's health.

Buyer Products:

  • Saw Palmetto Softgels
  • Men's Special Multiple
  
Women`s Health
Products consisting of dietary/naturopathic supplements that are intended to support women's health.

Buyer Products:

  • Women's Special Multiple
  • Calcium Citrate
  • Calcium 600
  • Estroplus
  • Prenatal Vitamin
  • Menopause Support
  
Nutraceuticals  
Cardiovascular Health
Products that may reduce blood cholesterol level when consumed regularly.

Buyer Products:

  • Garlic Caplets & Tablets
  
Immune System Support
Products that may enhance the immune system's response against diseases.

Buyer Products:

  • Panax Ginseng Caplets
  • Echinacea Caplets
  
Outsourced Services
Development/Manufacturing Services  
Contract Manufacturing Organizations (CMO)  
Nutritional Supplements
Contract Manufacturing Organizations that manufacture nutritional supplements for other organizations.

Buyer Products:

  • Contract Manufacturing Services
  
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:

  • Contract Manufacturing Services
  
Final Dosage Forms
Contract Manufacturing Organizations (CMO) that produce large quantities of drug products in final dosage forms ready to be sold to end users.

Buyer Products:

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

Target Products:

  • Humanized Antibody Technology
  

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

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

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

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a
Buyer
  The Procter & Gamble Company n/a 175,977.447 14.47 13.59 2.06 2.08 n/a
Pfizer Inc. n/a 114,090.476 10.81 6.96 2.34 2.31 4.22
Novartis AG (ADR) n/a 106,581.492 14.10 12.04 2.51 2.47 3.62
Abbott Laboratories n/a 78,742.790 17.32 15.37 2.73 2.67 26.86
Wyeth n/a 47,933.530 10.71 10.04 2.06 2.03 3.20
Bayer AG (ADR) n/a 40,815.858 5.65 10.31 0.89 1.00 n/a
Teva Pharmaceutical Industries Ltd (ADR) n/a 34,606.559 18.28 15.00 3.20 3.09 7.74
Schering-Plough Corporation n/a 27,467.108 n/a 9.56 1.54 1.39 14.98
Barr Pharmaceuticals, Inc. n/a 7,146.791 49.80 22.36 2.56 2.53 16.90
Cephalon, Inc. n/a 5,133.420 20.12 15.69 2.72 2.55 14.76
Mylan Inc. n/a 2,836.771 n/a 15.03 0.56 0.64 n/a
Watson Pharmaceuticals, Inc. n/a 2,489.670 11.30 11.87 0.99 0.98 3.90
Alpharma Inc. n/a 1,913.695 16.76 108.94 2.94 2.80 4.25
Dr. Reddy's Laboratories Limited (ADR) n/a 1,611.227 18.41 13.24 1.46 1.17 n/a
Inverness Medical Innovations, Inc. n/a 1,452.302 n/a 10.41 0.97 0.86 n/a
Target
  GlaxoSmithKline plc (ADR) n/a 93,667.975 13.40 10.67 2.68 2.39 78.84
Genentech, Inc. n/a 81,785.127 26.16 24.31 6.45 6.12 6.82
Baxter International Inc. n/a 31,107.783 16.18 15.17 2.54 2.56 5.82
Hospira, Inc. n/a 4,280.381 14.64 11.00 1.17 1.19 17.62
Medarex inc. n/a 610.859 n/a -13.91 11.60 12.46 1.85
Dyax Corp. n/a 207.090 n/a -2.65 6.87 7.62 n/a
Sangamo Biosciences, Inc. n/a 133.183 n/a -4.41 10.99 8.82 2.47
Nuvelo, Inc. n/a 16.099 n/a -0.53 1.06 1.12 0.37
Boehringer Ingelheim GmbH n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Target
  Seattle Genetics, Inc. n/a 678.890 n/a -8.12 20.57 19.43 6.42
Highland Distressed Opportunities, Inc n/a 20.374 n/a 1.89 0.70 1.80 0.17

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Cardinal Health, Inc. n/a 11,701.788 9.38 8.59 0.13 0.12 7.08
McKesson Corporation n/a 9,990.133 9.34 8.83 0.09 0.10 3.82
AmerisourceBergen Corp. n/a 5,164.594 20.61 10.17 0.07 0.07 n/a
Buyer
  Wal-Mart Stores, Inc. 20.00% 214,289.023 15.64 15.88 0.53 0.53 4.28
CVS Caremark Corporation n/a 40,860.688 13.35 11.85 0.48 0.47 n/a
Walgreen Company n/a 25,863.156 11.99 11.64 0.44 0.41 2.26
Costco Wholesale Corporation n/a 23,051.467 17.96 17.13 0.32 0.29 n/a
The Kroger Co. n/a 16,570.548 13.55 13.69 0.22 0.22 5.48
Cardinal Health, Inc. n/a 11,701.788 9.38 8.59 0.13 0.12 7.08
McKesson Corporation n/a 9,990.133 9.34 8.83 0.09 0.10 3.82
Safeway Inc. n/a 9,782.934 10.54 10.19 0.22 0.22 2.19
AmerisourceBergen Corp. n/a 5,164.594 20.61 10.17 0.07 0.07 n/a
Cephalon, Inc. n/a 5,133.420 20.12 15.69 2.72 2.55 14.76
Target
  Genentech, Inc. 68.00% 81,785.127 26.16 24.31 6.45 6.12 6.82
AstraZeneca plc (ADR) 14.00% 56,480.158 9.23 7.88 1.79 1.75 n/a
Roche Holding Ltd. (ADR) n/a 123,605.205 14.77 14.57 3.15 2.87 5.39
Wyeth n/a 47,933.530 10.71 10.04 2.06 2.03 3.20
Bristol Myers Squibb Co. n/a 44,434.739 11.35 12.69 2.14 2.03 6.45
Biogen Idec Inc. n/a 13,712.382 17.66 13.24 3.50 3.36 5.76
Cardinal Health, Inc. n/a 11,701.788 9.38 8.59 0.13 0.12 7.08
McKesson Corporation n/a 9,990.133 9.34 8.83 0.09 0.10 3.82
AmerisourceBergen Corp. n/a 5,164.594 20.61 10.17 0.07 0.07 n/a
Elan Corporation, plc (ADR) n/a 3,413.400 n/a -12.37 3.60 3.09 n/a
Seattle Genetics, Inc. n/a 678.890 n/a -8.12 20.57 19.43 6.42
Progenics Pharmaceuticals, Inc. n/a 259.793 n/a -7.00 3.40 2.94 2.03

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Wal-Mart Stores, Inc. n/a 214,289.023 15.64 15.88 0.53 0.53 4.28
CVS Caremark Corporation n/a 40,860.688 13.35 11.85 0.48 0.47 n/a
Walgreen Company n/a 25,863.156 11.99 11.64 0.44 0.41 2.26
Costco Wholesale Corporation n/a 23,051.467 17.96 17.13 0.32 0.29 n/a
The Kroger Co. n/a 16,570.548 13.55 13.69 0.22 0.22 5.48
McKesson Corporation n/a 9,990.133 9.34 8.83 0.09 0.10 3.82
Safeway Inc. n/a 9,782.934 10.54 10.19 0.22 0.22 2.19
Cephalon, Inc. n/a 5,133.420 20.12 15.69 2.72 2.55 14.76
SUPERVALU INC. n/a 2,809.952 4.79 4.52 0.06 0.06 n/a
Watson Pharmaceuticals, Inc. n/a 2,489.670 11.30 11.87 0.99 0.98 3.90
Chattem Inc. n/a 1,222.001 18.98 15.21 2.72 2.56 n/a
DUSA Pharmaceuticals, Inc. n/a 26.005 n/a -3.79 0.86 0.88 1.37
SCOLR Pharma Inc. n/a 25.501 n/a n/a 25.35 n/a 2.73
Target
  Roche Holding Ltd. (ADR) n/a 123,605.205 14.77 14.57 3.15 2.87 5.39
Genentech, Inc. n/a 81,785.127 26.16 24.31 6.45 6.12 6.82
Wyeth n/a 47,933.530 10.71 10.04 2.06 2.03 3.20
Bristol Myers Squibb Co. n/a 44,434.739 11.35 12.69 2.14 2.03 6.45
Eli Lilly & Co. n/a 41,396.458 17.16 8.88 2.03 1.97 3.62
Biogen Idec Inc. n/a 13,712.382 17.66 13.24 3.50 3.36 5.76
Cardinal Health, Inc. n/a 11,701.788 9.38 8.59 0.13 0.12 7.08
Elan Corporation, plc (ADR) n/a 3,413.400 n/a -12.37 3.60 3.09 n/a
Seattle Genetics, Inc. n/a 678.890 n/a -8.12 20.57 19.43 6.42
Exelixis, Inc. n/a 522.719 n/a -2.38 4.45 3.34 n/a
Progenics Pharmaceuticals, Inc. n/a 259.793 n/a -7.00 3.40 2.94 2.03
Pierre Fabre Medicament n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 1,919.6 296.3 2,216.0
Other Revenue 0.0 0.0 0.0
Total Revenue 1,919.6 296.3 2,216.0
Cost of Revenue 1,341.7 0.0 1,341.7
SG&A Expense 289.2 77.7 366.9
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 74.1 185.2 259.2
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 -49.7 -49.7
Unusual Expense (Income) 5.1 14.1 19.2
Total Expenses 1,710.1 227.3 1,937.5
Operating Income 209.5 69.0 278.5
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -18.4 1.2 -17.2
Other, Net -0.5 0.0 -0.5
Income Before Taxes 190.6 70.2 260.8
Income Taxes 50.9 4.6 55.5
Income After Taxes 139.7 65.6 205.3
Net Income - Excl. Xord. Items 139.7 65.6 205.3
Discontinued Operations 0.0 -53.4 -53.4
Net Income - Incl. Xord. Items 139.7 12.2 151.9
Income Avail. to Common 139.7 12.2 151.9
Share Items
Basic Avg. Shares Outstanding 92.8 119.3 212.1
Basic EPS - Excl. Xord. Items 1.51 0.55 0.97
Basic EPS - Incl. Xord. Items 1.51 0.10 0.72
Full Dilution Adjustment 0.0 2.3 2.3
Fully Diluted Shares Outstanding 94.6 152.8 247.4
F.D. EPS - Excl. Xord. Items 1.48 0.43 0.83
F.D. EPS - Incl. Xord. Items 1.48 0.08 0.61
Dividends Per Common Share 0.20 0.00 0.20
Balance Sheet
Assets
Cash and Equivalents 249.3 555.3 804.6
ST Investments 0.0 0.0 0.0
Accounts Receivable 340.6 0.0 340.6
Inventory 448.4 0.0 448.4
Prepayments and Advances 25.9 0.0 25.9
Other Current Assets 44.5 16.4 60.8
Current Assets 1,108.7 571.7 1,680.3
PPE 747.2 0.0 747.2
Accum D&A -381.5 0.0 -381.5
PPE, Net 365.8 127.3 493.0
Goodwill & Intangibles 266.6 7.8 274.4
Other Assets 0.0 0.0 0.0
Other LT Assets 533.3 11.5 544.8
Total Assets 2,493.4 718.2 3,211.6
Liabilities
Accounts Payable 270.6 3.5 274.1
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 154.2 52.1 206.3
ST Debt 0.0 0.0 0.0
Curr Port of LTD & Cap Lease Oblg 21.2 0.8 22.0
Other (Current) Liabilities 18.8 12.2 31.0
Current Liab. 464.8 68.5 533.4
LT Debt 893.4 532.9 1,426.4
Total LT Debt 893.4 532.9 1,426.4
Deferred Taxes 130.2 0.0 130.2
Other LT Liab. 116.6 50.4 167.0
Total Liabilities 1,605.1 651.9 2,257.0
Shareholders Equity
Common Stock 468.8 1.2 470.0
Additional Paid in Capital 0.0 629.3 629.3
Retained Earnings 323.3 -563.6 -240.3
Other Equity 96.2 -0.5 95.7
Total Equity 888.3 66.4 954.6
Total Liab. & Equity 2,493.4 718.2 3,211.6
Shares Outstanding 92.3 119.3 211.6
Cash Flow
Operating Cash Flow
CF Net Income 139.7 12.2 151.9
CF Depreciation 70.4 26.2 96.6
CF Amortization 0.0 7.2 7.2
CF Deferred Taxes -7.9 -0.3 -8.2
Other Non-Cash Items 20.9 38.0 58.9
Change in Working Capital -0.8 33.8 32.9
Total Cash From Operating Activities 222.3 117.1 339.4
Investing Cash Flow (not calculated)
Capital Expenditures -47.4 -15.1 -62.5
Other Investing Cash Flows -92.5 723.1 630.6
Total Cash From Investing Activities -139.9 708.0 568.1
Financing Cash Flow (not calculated)
Dividends Paid -18.7 0.0 -18.7
Purchase Or Sale of Stock -69.7 20.6 -49.1
Purchase and Retirement of Debt 210.2 -6.1 204.1
Other Financing Cash Flow 7.7 -494.2 -486.5
Total Cash From Financing Activities 129.6 -479.8 -350.1
Exchange Rate Effects -9.5 0.0 -9.5
Net Change in Cash 202.5 345.3 547.8
Cash Taxes Paid 41.2 0.2 41.3
Cash Interest Paid 35.7 12.4 48.2