Summary

Other Scenarios:

Buyer: Shire plc (ADR) (SHPGY) Last Price: 59.00 Market Cap.: 11.01B
Target: Pharmion Corporation (PHRM) Last Price: 72.32 Market Cap.: 2.71B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Healthcare 918
Biopharmaceuticals 375

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

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 33)
  • SPD535
  • ProAmatine (Midodrine)
  • Juvista (Human TGFbeta3)
  • Lialda (Mesalamine)
Target (Total: 5)
  • Innohep (Tinzaparin Sodium)
  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Oral Azacitidine
  • Vidaza (Azacitidine)
Buyer

n/a
Target

n/a

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 13)
  • Johnson & Johnson (JNJ)
  • GlaxoSmithKline plc (ADR) (GSK)
  • BASF SE (ADR) (BASFY)
  • Bayer AG (ADR) (BAYRY)
Target (Total: 6)
  • GPC Biotech AG (ADR) (GPCB)
  • Celgene Corporation (CELG)
  • salesforce.com, inc. (CRM)
  • MethylGene Inc. (MYG:CA)
Buyer (Total: 8)
  • Cardinal Health, Inc. (CAH)
  • McKesson Corporation (MCK)
  • AmerisourceBergen Corp. (ABC)
  • Johnson & Johnson (JNJ)
Target (Total: 4)
  • US Oncology, Inc.
  • Cardinal Health, Inc. (CAH)
  • McKesson Corporation (MCK)
  • Government - United Kingdom

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 3,436 513
Revenue Per Employee 845,739.7 558,770.6
Total Revenue 724.5 71.5
Total Expenses 492.3 102.6
Other Revenue 1.4 0.0
Cost of Revenue 99.6 19.7
SG&A Expense 288.2 50.0
Research & Development 202.9 30.4
Other Operating Expense -115.7 0.0
Operating Income 232.2 -31.2
Unusual Income -29.6 0.0
LT Debt to Capital 48.01 0
Fwd P/E 19.66 -395.28
Fwd P/Rev 3.82 7.21
Book Value 1,227.0 358.9
Curr Portion of LTD/Cap Lease 0.0 0.0

Individual Company Summary

Focused

Buyer

Sector Pure-Play (): Healthcare > Biopharmaceuticals

Target

Focused (): Healthcare > Biopharmaceuticals > Oncology

Business Description

Buyer

Shire plc (Shire) is a specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician. Shire focuses its business on attention deficit and hyperactivity disorder (ADHD), human genetic therapies (HGT), gastrointestinal (GI) and renal diseases. In June 2007, the Company received an approvable letter from the United States Food and Drug Administration (FDA) for INTUNIV (guanfacine) extended release tablets (previously referred to as SPD503), a non-stimulant selective alpha-2A-receptor agonist. On November 7, 2007, Shire entered into a license agreement with Amicus Therapeutics, Inc. (Amicus), under which it received the rights to three compounds, PLICERA, AMIGAL and AT2220, in markets outside the United States.

Target

Pharmion Corporation is a global pharmaceutical company that acquires, develops and commercializes products for the treatment of hematology and oncology patients. The Company has established a portfolio of approved products and product candidates focused on the hematology and oncology markets. These include Pharmion?s primary commercial products, Vidaza (azacitidine for injection), which it markets and sells as an approved treatment for myelodysplastic syndromes in the United States, Switzerland, Israel and the Philippines. and Thalidomide Pharmion 50 milligram (Thalidomide Pharmion), a therapy for the treatment of multiple myeloma and certain other forms of cancer, which it sells on a compassionate use or named patient basis in certain countries of Europe. Thalidomide Pharmion is approved in Australia, New Zealand, Turkey, Israel, South Korea and Thailand for the treatment of multiple myeloma. In January 2008, Celgene Corporation has cleared its pending acquisition of Pharmion.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 87.16 72.66
Operating Margin % -56.61 -25.91
Quick Ratio 0.95 3.64
Current Ratio 1.34 4
Coverage Ratio 0.01 -0.15
Total Assets 4,330.1 443.3
Return on Equity % -118.47 -17.79
Return on Assets % -33.57 -14.4
Cash+ ST Inv. Per Share 3.92 6.67
Total Debt 1,132.9 0.0
Total Debt to Equity % 92.33 0
Total Debt to Tangible Equity % n/a 0
Debt to Asset % 26.16 0.00

Product Summary

Sector Buyer Target
Healthcare
Biopharmaceuticals
Cardiovascular System
The Cardiovascular System Subsector includes therapeutics that treat disorders affecting the heart and blood vessels.
Dermatology
The Dermatology Subsector includes therapeutics that treat disorders affecting the skin.
  
Digestive System
The Digestive System Subsector includes therapeutics that treat disorders affecting the digestive system.
  
Endocrinology/Metabolism
The Endocrinology/Metabolism Subsector includes therapeutics that treat metabolic disorders and conditions resulting from the dysfunction of hormone secreting glands.
  
Hematology
The Hematology Subsector includes therapeutics that treat blood-based diseases and disorders.
Immunology
The Immunology Subsector includes therapeutics that treat disorders affecting the immune system.
  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Neurology
The Neurology Subsector includes therapeutics that treat disorders of the central nervous system, including the brain, spinal cord, and nerves.
  
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.
Pain Management
The Pain Management Subsector includes therapeutics that treat and management pain.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Urology
The Urology Subsector includes therapeutics that treat diseases of the kidney, urinary tract, bladder, and the male reproductive system.
  

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

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

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

Product Details

Sector Buyer Target
Healthcare
Biopharmaceuticals
Cardiovascular System
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of heart and circulatory system disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • SPD535
  
Vascular Disorders
Deep Vein Thrombosis (DVT)  
Anticoagulating Agents (Anticoagulants)  
Thrombin Inhibitors
Therapeutics that prevent or treat clots in blood vessels by preventing blood clots from forming.

Target Products:

  • Innohep (Tinzaparin Sodium)
  
Hypotension  
Alpha Adrenergic Receptor Agonists
Therapeutics that treat low blood pressure by stimulating alpha adrenergic receptors.

Buyer Products:

  • ProAmatine (Midodrine)
  
Thromboembolism  
Anticoagulating Agents (Anticoagulants)  
Thrombin Inhibitors
Therapeutics that treat the obstruction of a blood vessel by preventing blood clots from forming.

Target Products:

  • Innohep (Tinzaparin Sodium)
  
Dermatology  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of skin disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Juvista (Human TGFbeta3)
  
Digestive System  
Gastrointestinal Tract Disorders  
Intestinal Disorders  
General Gastrointestinal Distress  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat general gastrointestinal distress by inhibiting the actions of the two enzymes, cyclooxygenase and lipoxygenase.

Buyer Products:

  • Lialda (Mesalamine)
  
Inflammatory Bowel Disease (IBD)  
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:

  • Pentasa (Mesalamine)
  • Lialda (Mesalamine)
  
Liver Disorders  
Hepatitis  
Hepatitis B  
Chronic  
Reverse Transcriptase Inhibitors (Nucleoside Analogs)
Therapeutics that treat hepatitis by inhibiting the action of reverse transcriptase, an enzyme necessary for DNA synthesis using an RNA template.

Buyer Products:

  • Zeffix (Lamivudine)
  
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:

  • SPD550 (Larazotide Aceotate)
  
Endocrinology/Metabolism  
Intermediary Metabolism Disorders  
Lysosomal Storage Diseases  
Fabry Disease  
Enzyme Replacement Therapy
Therapeutics that treat Fabry's Disease by providing the missing enzymes that contributes to the disease symptoms.

Buyer Products:

  • Replagal (Human Alpha-Galactosidase A)
  
Gaucher Disease  
Enzyme Replacement Therapy
Therapeutics that treat Gaucher's Disease by providing the missing enzymes that contributes to the disease symptoms.

Buyer Products:

  • Velaglucerase alfa (Gene-Activated Glucocerebrosidase (GA-GCB))
  
Hunter Syndrome  
Enzyme Replacement Therapy
Therapeutics that treat Hunter Syndrome by providing the missing enzymes that contributes to the disease symptoms.

Buyer Products:

  • Elaprase (Idursulfase)
  
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:

  • NRP409 (Triiodothyronine Hormone )
  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of endocrinology disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Gene-Activated Human Growth Hormone (GA-hGH)
  • NRP409 (Triiodothyronine Hormone )
  • Shire Human Genetic Therapies Enzyme Replacement Therapies
  • Elaprase (Idursulfase)
  
Hematology
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of hematological disorders in early stages of clinical research where human subject is involved.

Buyer Products:

  • Factor VIII Gene Therapy
  • Gene-Activated Granulocyte Colony-Stimulating Factor (GA-GCSF)

Target Products:

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

Buyer Products:

  • Dynepo (Erythropoietin)
  
Serum Factor Disorders  
Hyperphosphatemia  
Phosphate Binding Agents
Therapeutics that bind blood phosphorous.

Buyer Products:

  • Fosrenol (Lathanum Carbonate)
  
Thrombocyte (Platelet) Disorders  
Thrombocythemia  
Megakaryocyte Maturation Inhibitors
Therapeutics that prevents the maturation of platelet producing cells.

Buyer Products:

  • Agrylin (Anagrelide)
  
White Blood Cell (WBC) Disorders  
Myelodysplastic Syndromes (MDS)  
Antimetabolite Agents  
Pyrimidine Analogs
Therapeutics that treat and manage rmyelodysplastic syndrome by interfering with the production of DNA.

Target Products:

  • Vidaza (Azacitidine)
  
Immunology  
Autoimmune Disorders  
Inflammatory Bowel Disease (IBD)  
Ulcerative Colitis  
Cyclooxygenase Inhibitors (COX Inhibitors)/Lipoxygenase Inhibitors
Therapeutics that treat inflammation of the colon and rectum by blocking the action of cyclooxygenase and lipoxygenase.

Buyer Products:

  • Pentasa (Mesalamine)
  • Lialda (Mesalamine)
  
Immune Deficiency Disorders  
Human Immunodeficiency Virus (HIV)/Acquired Immune Deficiency Syndrome (AIDS)  
Nucleoside Reverse Transcriptase Inhibitors (NRTI)
Therapeutics that help manage HIV by inhibiting the action of reverse transcriptase, an enzyme necessary for the DNA synthesis on a RNA template.

Buyer Products:

  • Epivir (lamivudine)
  
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:

  • SPD754 (Apricitabine)
  
Infectious Diseases  
Phase I/Phase II Clinical Stage Products
Therapeutics that are being investigated for the treatment of infectious diseases in early stages of clinical research where human subject is involved.

Buyer Products:

  • SPD754 (Apricitabine)
  
Viral  
DNA Viruses  
Hepadnavirus  
Hepatitis B  
Chronic  
Reverse Transcriptase Inhibitors (Nucleoside Analogs)
Therapeutics that treat viral infections characterized by inflammation of the liver for more than six months by blocking enzyme essential for viral DNA synthesis.

Buyer Products:

  • Zeffix (Lamivudine)
  
RNA Viruses  
Retrovirus  
Human Immunodeficiency Virus (HIV)/Acquired Immune Deficiency Syndrome (AIDS)  
Nucleoside Reverse Transcriptase Inhibitors (NRTI)
Therapeutics that help manage HIV by inhibiting the action of reverse transcriptase, an enzyme necessary for the DNA synthesis on a RNA template.

Buyer Products:

  • Epivir (lamivudine)
  
Neurology  
Neurological Disorders  
Alzheimer`s Disease  
Acetylcholinesterase Inhibitors/Nicotinic Receptor Modulators
Therapeutics that treat Alzheimer's Disease by preventing the breakdown of a the neurotransmitter, acetylcholine, and by modulating the receptor that binds nicotine.

Buyer Products:

  • Razadyne (Galantamine)
  
Epilepsy  
Partial Seizures  
Complex  
Monotherapy  
Sodium Channel Blocking Agents
Therapeutics that treat complex partial seizures by blocking the sodium channels which in turn block the conductance of neural impulses through the brain.

Buyer Products:

  • Carbatrol (Carbamazepine)
  
Simple  
Monotherapy  
Sodium Channel Blocking Agents
Therapeutics that treat simple partial seizures by blocking the sodium channels which in turn block the conductance of neural impulses.

Buyer Products:

  • Carbatrol (Carbamazepine)
  
Primary Generalized Seizures  
Tonic-Clonic (Grand Mal)  
Sodium Channel Blocking Agents
Therapeutics that treat Grand Mal Seizures by preventing the entrance of sodium into nerve cells.

Buyer Products:

  • Carbatrol (Carbamazepine)
  
Trigeminal Neuralgia (Tic Douloureux)  
Sodium Channel Blocking Agents
Therapeutics that treat trigeminal Neuralgia by inhibiting the entrance of sodium into the nerve cells.

Buyer Products:

  • Carbatrol (Carbamazepine)
  
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:

  • SPD487 (Amphetamine Transdermal System)
  
Psychiatric Disorders  
Childhood/Adolescent Disorders  
Attention Deficit Disorder (ADD)/Attention Deficit Hyperactivity Disorder (ADHD)  
Alpha Adrenergic Receptor Agonists  
Dopamine Receptor Blocking Agents
Therapeutics that treat attention deficit disorder by blocking the dopamine receptors.

Buyer Products:

  • Daytrana (Methylphenidate)
  
Sympathomimetic Agents
Therapeutic members of the amphetamine group of sympathomimetic amines that treat the disorder involving hyperactivity in children due to an abnormally short attention span.

Buyer Products:

  • DextroStat (Dextroamphetamine Sulfate)
  • Adderall (Dextroamphetamine/Amphetamine)
  • Adderall XR (Dextroamphetamine/Amphetamine)
  • SPD465 (Dextroamphetamine/Amphetamine)
  • Vyvanse (Lisdexamfetamine Dimesylate)/Formerly NRP104
  
Sleep Disorders  
Narcolepsy  
Sympathomimetic Agents
Therapeutic members of the amphetamine group of sympathomimetic amines that treat the disorder involving hronic and sudden daytime sleepiness.

Buyer Products:

  • DextroStat (Dextroamphetamine Sulfate)
  
Obstetrics/Gynecology  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of female reproductive disorders in very early stages of research where no human subject is involved.

Buyer Products:

  • Gene-Activated Follicle Stimulating Hormone (GA-FSH)
  
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.

Buyer Products:

  • Troxatyl (Troxacitabine)

Target Products:

  • MGCD0103 (Histone Deacetylase (HDAC) Inhibitor)
  • Vidaza (Azacitidine)
  • Oral Azacitidine
Respiratory System/Thoracic  
Lung Cancer  
Small Cell Lung Cancer (SCLC)  
Topoisomerase II Inhibitors
Therapeutics that treat and manage cancers of the small cells in the lung by inhibiting a specific enzyme, topoisomerase II, needed for transcription and replication of DNA.

Target Products:

  • Amrubicin (Anthracycline)
  
Pain Management  
Research/Preclinical Stage Products
Therapeutics that are being investigated for the treatment of pain in very early stages of research where no human subject is involved.

Buyer Products:

  • NRP369 (Oxycodone Prodrug)
  
Surgery  
Musculoskeletal System  
Deep Vein Thrombosis (DVT)  
Anticoagulating Agents (Anticoagulants)  
Thrombin Inhibitors
Therapeutics that treat vascular obstructions due to platelets and cell matter by blocking an enzyme involved in the clotting process.

Target Products:

  • Innohep (Tinzaparin Sodium)
  
Urology  
Urological Disorders  
Kidney (Renal)  
Chronic Renal Failure (CRF)  
Complications  
Anemia  
Recombinant Human Erythropoietins
Therapeutics that treat the condition resulting from the scarcity of red blood cells by inducing the production of red blood cells.

Buyer Products:

  • Dynepo (Erythropoietin)
  
Hyperphosphatemia  
Phosphate Binding Agents
Therapeutics that treat abnormal levels of phosphate in the blood by binding to excess phosphate groups.

Buyer Products:

  • Fosrenol (Lathanum Carbonate)
  

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

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

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

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Pfizer Inc. n/a 144,347.120 17.73 9.11 2.98 3.03 6.24
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
Eli Lilly & Co. n/a 56,508.154 19.14 12.64 3.03 2.79 5.04
Celgene Corporation n/a 22,917.366 101.21 38.96 16.30 11.48 8.45
Eisai Co., Ltd (ADR) n/a 9,661.528 13.56 13.89 1.46 1.40 2.29
Buyer
  Johnson & Johnson n/a 174,233.403 16.47 14.11 2.85 2.79 11.97
Roche Holding Ltd. (ADR) n/a 162,161.754 18.24 19.03 3.86 3.93 5.53
Pfizer Inc. n/a 144,347.120 17.73 9.11 2.98 3.03 6.24
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
Novartis AG (ADR) n/a 108,444.656 9.08 13.48 2.78 2.71 3.88
Merck & Co., Inc. n/a 90,400.858 27.60 12.73 3.74 3.70 5.64
Abbott Laboratories n/a 78,894.465 21.88 16.18 3.04 2.85 40.89
Eli Lilly & Co. n/a 56,508.154 19.14 12.64 3.03 2.79 5.04
Amgen, Inc. n/a 48,051.405 15.18 10.82 3.25 3.28 14.57
Target
  Pfizer Inc. n/a 144,347.120 17.73 9.11 2.98 3.03 6.24
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
sanofi-aventis (ADR) n/a 98,531.811 16.69 9.14 2.25 2.40 n/a
Genentech, Inc. n/a 83,607.511 30.19 25.16 7.13 6.43 9.13
Eli Lilly & Co. n/a 56,508.154 19.14 12.64 3.03 2.79 5.04
Celgene Corporation n/a 22,917.366 101.21 38.96 16.30 11.48 8.45
Eisai Co., Ltd (ADR) n/a 9,661.528 13.56 13.89 1.46 1.40 2.29
Millennium Pharmaceuticals, Inc. n/a 4,249.041 284.76 58.61 8.05 7.65 5.90
SuperGen, Inc. n/a 135.648 10.37 -12.63 5.91 3.71 1.48
Poniard Pharmaceuticals, Inc. n/a 132.393 0.00 -3.07 n/a 12.14 1.53
Vion Pharmaceuticals, Inc. n/a 25.897 0.00 -0.71 1,194.74 n/a 3.14

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Johnson & Johnson n/a 174,233.403 16.47 14.11 2.85 2.79 11.97
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
BASF SE (ADR) n/a 61,797.339 10.56 11.39 0.73 0.70 3.76
Bayer AG (ADR) n/a 54,726.881 7.55 14.14 1.19 1.27 n/a
Covidien Ltd. n/a 20,678.076 0.00 17.45 2.00 2.19 n/a
Koninklijke DSM N.V. (ADR) n/a 7,009.669 11.42 9.48 0.54 n/a 1.12
Albany Molecular Research, Inc. n/a 367.270 41.10 32.39 1.91 1.71 1.10
Noven Pharmaceuticals, Inc. n/a 302.483 0.00 13.71 3.92 3.61 4.12
SkyePharma PLC (ADR) n/a 206.192 0.00 n/a 2.05 2.36 n/a
Cambridge Laboratories n/a n/a n/a n/a n/a n/a n/a
Reckitt Benckiser plc n/a n/a n/a n/a n/a n/a n/a
Tessenderlo Chemie NV 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
Target
  GPC Biotech AG (ADR) 66.00% 123.561 0.00 -1.04 3.95 3.84 1.63
Celgene Corporation n/a 22,917.366 101.21 38.96 16.30 11.48 8.45
salesforce.com, inc. n/a 6,759.538 368.29 174.97 9.03 6.62 16.14
MethylGene Inc. n/a 87.304 0.00 n/a 6.00 n/a 1.75
Ben Venue Laboratories, Inc. n/a n/a n/a n/a n/a n/a n/a
Ash Stevens, Inc. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Cardinal Health, Inc. 36.80% 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation 24.80% 16,575.105 17.63 17.42 0.17 0.16 5.60
Buyer
  Cardinal Health, Inc. 36.80% 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation 24.80% 16,575.105 17.63 17.42 0.17 0.16 5.60
AmerisourceBergen Corp. 9.40% 6,687.985 14.64 14.03 0.10 0.10 n/a
Johnson & Johnson n/a 174,233.403 16.47 14.11 2.85 2.79 11.97
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
CollaGenex Pharmaceutical, Inc n/a 351.522 0.00 -23.01 5.88 5.70 6.46
Barrier Therapeutics, Inc. n/a 127.764 0.00 -3.53 5.31 2.40 3.77
Samaritan Pharmaceuticals, Inc. n/a 8.590 0.00 n/a 2.75 n/a 5.71
Target
  US Oncology, Inc. 19.00% n/a n/a n/a n/a n/a n/a
Cardinal Health, Inc. 11.00% 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation 9.00% 16,575.105 17.63 17.42 0.17 0.16 5.60
Government - United Kingdom n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Cardinal Health, Inc. n/a 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation n/a 16,575.105 17.63 17.42 0.17 0.16 5.60
Buyer
  Johnson & Johnson n/a 174,233.403 16.47 14.11 2.85 2.79 11.97
GlaxoSmithKline plc (ADR) n/a 115,986.006 11.18 10.85 2.57 2.53 15.20
sanofi-aventis (ADR) n/a 98,531.811 16.69 9.14 2.25 2.40 n/a
Abbott Laboratories n/a 78,894.465 21.88 16.18 3.04 2.85 40.89
BASF SE (ADR) n/a 61,797.339 10.56 11.39 0.73 0.70 3.76
Bayer AG (ADR) n/a 54,726.881 7.55 14.14 1.19 1.27 n/a
Bristol Myers Squibb Co. n/a 43,309.011 20.00 12.88 2.24 2.02 10.23
Covidien Ltd. n/a 20,678.076 0.00 17.45 2.00 2.19 n/a
Cardinal Health, Inc. n/a 19,851.610 12.83 14.65 0.22 0.21 15.33
Genzyme Corporation n/a 19,659.989 40.94 20.86 5.16 4.24 5.38
McKesson Corporation n/a 16,575.105 17.63 17.42 0.17 0.16 5.60
Target
  Pfizer Inc. n/a 144,347.120 17.73 9.11 2.98 3.03 6.24
Celgene Corporation n/a 22,917.366 101.21 38.96 16.30 11.48 8.45
Cardinal Health, Inc. n/a 19,851.610 12.83 14.65 0.22 0.21 15.33
McKesson Corporation n/a 16,575.105 17.63 17.42 0.17 0.16 5.60
GPC Biotech AG (ADR) n/a 123.561 0.00 -1.04 3.95 3.84 1.63
MethylGene Inc. n/a 87.304 0.00 n/a 6.00 n/a 1.75
US Oncology, Inc. n/a n/a n/a n/a n/a n/a n/a
LEO Pharma A/S n/a n/a n/a n/a n/a n/a n/a
Ash Stevens, Inc. n/a n/a n/a n/a n/a n/a n/a
Dainippon Sumitomo Pharma Co., Ltd. n/a n/a n/a n/a n/a n/a n/a
Ben Venue Laboratories, Inc. n/a n/a n/a n/a n/a n/a n/a
Nippon Shinyaku Co., Ltd. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 2,417.4 267.3 2,684.7
Other Revenue 18.9 0.0 18.9
Total Revenue 2,436.3 267.3 2,703.6
Cost of Revenue 312.9 73.1 386.0
SG&A Expense 1,041.7 143.2 1,184.9
Depreciation & Amortization 154.3 9.9 164.2
Research & Development 566.6 102.4 669.0
Interest Expense 0.0 0.0 0.0
Other Operating Expense -127.8 0.0 -127.8
Unusual Expense (Income) 1,867.7 8.0 1,875.7
Total Expenses 3,815.4 336.5 4,151.9
Operating Income -1,379.1 -69.2 -1,448.3
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -20.2 10.2 -10.0
Other, Net 1.2 0.0 1.2
Income Before Taxes -1,398.1 -59.1 -1,457.2
Income Taxes 55.5 4.8 60.3
Income After Taxes -1,453.6 -63.9 -1,517.5
Equity in Affiliates 1.8 0.0 1.8
Net Income - Excl. Xord. Items -1,451.8 -63.9 -1,515.7
Net Income - Incl. Xord. Items -1,451.8 -63.9 -1,515.7
Income Avail. to Common -1,451.8 -63.9 -1,515.7
Share Items
Basic Avg. Shares Outstanding 181.6 37.3 218.9
Basic EPS - Excl. Xord. Items n/a n/a -6.93
Basic EPS - Incl. Xord. Items n/a n/a -6.93
Full Dilution Adjustment 1.1 0.0 1.1
Fully Diluted Shares Outstanding 194.7 37.3 232.0
F.D. EPS - Excl. Xord. Items n/a n/a -6.53
F.D. EPS - Incl. Xord. Items n/a n/a -6.53
Dividends Per Common Share 0.26 0.00 0.26
Balance Sheet
Assets
Cash and Equivalents 762.5 178.9 941.4
ST Investments 0.0 69.7 69.7
Accounts Receivable 441.5 45.0 486.5
Inventory 174.1 12.8 186.9
Prepayments and Advances 125.3 2.8 128.1
Other Current Assets 193.4 13.6 207.0
Current Assets 1,696.8 322.8 2,019.6
Accum D&A 0.0 0.0 0.0
PPE, Net 368.6 11.4 380.0
Goodwill & Intangibles 1,983.9 103.1 2,087.0
Long Term Investments 110.2 0.0 110.2
Other Assets 0.0 0.0 0.0
Other LT Assets 170.6 6.0 176.6
Total Assets 4,330.1 443.3 4,773.4
Liabilities
Accounts Payable 0.0 14.3 14.3
Payable/Accrued 663.1 0.0 663.1
Accrued Expenses 0.0 66.3 66.3
ST Debt 0.0 0.0 0.0
Other (Current) Liabilities 599.1 0.0 599.1
Current Liab. 1,262.2 80.6 1,342.8
LT Debt 1,132.9 0.0 1,132.9
Total LT Debt 1,132.9 0.0 1,132.9
Deferred Taxes 332.4 2.7 335.1
Other LT Liab. 375.6 1.1 376.7
Total Liabilities 3,103.1 84.4 3,187.5
Shareholders Equity
Common Stock 82.3 0.0 82.3
Additional Paid in Capital 2,509.9 631.7 3,141.6
Retained Earnings -1,140.1 -290.7 -1,430.8
Treasure Stock -280.8 0.0 -280.8
Other Equity 55.7 17.9 73.6
Total Equity 1,227.0 358.9 1,585.9
Total Liab. & Equity 4,330.1 443.3 4,773.4
Shares Outstanding 185.8 37.4 223.2
Cash Flow
Operating Cash Flow
CF Net Income 246.8 -63.9 182.9
CF Depreciation 96.8 12.6 109.4
CF Deferred Taxes -39.2 0.0 -39.2
Other Non-Cash Items -87.0 3.2 -83.8
Change in Working Capital -27.1 24.5 -2.6
Total Cash From Operating Activities 190.3 -23.5 166.8
Investing Cash Flow (not calculated)
Capital Expenditures -104.0 -6.7 -110.7
Other Investing Cash Flows 160.9 8.6 169.5
Total Cash From Investing Activities 56.9 1.8 58.7
Financing Cash Flow (not calculated)
Dividends Paid -11.9 0.0 -11.9
Purchase Or Sale of Stock 112.2 138.0 250.2
Purchase and Retirement of Debt 0.0 -0.9 -0.9
Other Financing Cash Flow -0.1 0.4 0.3
Total Cash From Financing Activities -85.8 137.5 51.7
Exchange Rate Effects 2.6 3.2 5.8
Net Change in Cash 164.0 119.0 283.0
Cash Taxes Paid 33.5 3.0 36.5
Cash Interest Paid 25.8 0.2 26.0