Biotechnology - Comparable Company Analysis



Company Name Market Cap TEV TEV/LTM Total Rev TEV/LTM EBITDA TEV/LTM EBIT P/Diluted EPS Before Extra P/TangBV
Acorda Therapeutics, Inc. 1,072 918 21.5x - - - 9.8x
Affymax, Inc. 300 152 2.8x - - - 4.2x
Affymetrix Inc. 547 394 .9x 2.7x 3.6x 11.9x 1.2x
Akzo Nobel NV 9,685 13,733 1.2x 10.7x 15.2x 32.x 3.1x
Alexion Pharmaceuticals, Inc. 3,602 3,715 23.1x - - - 46.1x
Altus Pharmaceuticals Inc. 146 40 1.3x - - - 1.5x
Amgen Inc. 66,200 68,892 4.7x 10.9x 13.5x 21.9x 16.5x
Amylin Pharmaceuticals Inc. 4,325 4,318 5.2x - - - 8.6x
Angiotech Pharmaceuticals Inc. 168 680 2.3x 42.5x - - -
Applied Biosystems Inc. 6,237 5,997 2.7x 12.1x 14.3x 20.8x 6.x
AstraZeneca plc 35,870 47,769 1.6x 4.3x 5.3x 6.6x -
Baxter International Inc. 43,064 44,151 3.7x 14.2x 17.7x 24.x 5.9x
Bayer AG 42,314 53,509 1.6x 8.x 12.9x 18.2x -
Biogen Idec Inc. 20,248 20,597 5.7x 14.3x 20.1x 30.x 9.9x
Biotest AG 686 869 2.4x 14.x 20.x 36.7x 4.5x
Biovitrum AB 2,760 2,024 1.8x 26.8x 153.5x 86.3x 2.9x
Cangene Corp. 330 332 2.6x 9.6x 14.8x 25.6x 1.8x
Celgene Corporation 32,904 31,074 17.3x 57.7x 63.8x - 16.7x
Cephalon Inc. 4,956 5,309 2.9x 10.9x 16.4x - 27.3x
CSL Ltd. 19,044 19,475 5.7x 18.7x 21.8x 30.3x 11.5x
Cubist Pharmaceuticals Inc. 1,279 1,225 3.4x 19.4x 22.3x 30.x 10.8x
deCODE genetics Inc. 99 298 6.4x - - - -
Elan Corp. plc 9,504 10,662 12.5x - - - -
Encysive Pharmaceuticals Inc. 190 364 8.x - - - -
Enzon Pharmaceuticals Inc. 365 524 2.7x 16.7x 37.5x 6.1x -
Genentech Inc. 100,097 98,067 8.1x 18.9x 21.1x 33.x 9.4x
Genzyme Corp. 20,490 19,235 4.5x 17.x 24.8x 47.1x 5.6x
Gilead Sciences Inc. 49,795 48,480 10.3x 20.2x 20.7x 30.x 13.2x
Grifols, S.A. 4,067 4,425 6.3x 24.9x 30.2x 46.6x 20.3x
Guangzhou Pharmaceutical Co. Ltd. 3,892 4,042 .3x 7.1x 9.1x 10.5x 1.3x
Harvard Bioscience Inc. 154 144 1.7x 11.1x 14.9x 21.6x 4.2x
Imclone Systems Inc. 5,533 5,197 8.3x 26.5x 31.8x - 6.7x
Invitrogen Corp. 3,968 4,473 3.3x 12.2x 17.9x 23.8x -
Lonza Group AG 7,259 8,680 2.9x 12.3x 19.9x 18.8x 4.x
Myriad Genetics Inc. 2,968 2,764 13.x - - - 8.4x
Nektar Therapeutics 460 386 1.9x - - - 4.8x
Novo Nordisk A/S 189,760 183,916 4.3x 14.8x 17.8x 21.5x 6.2x
OSI Pharmaceuticals Inc. 3,010 3,026 8.2x 20.9x 22.2x 26.x 50.9x
Pfizer Inc. 126,306 114,959 2.4x 5.6x 7.6x 14.x 4.9x
QLT Inc. 276 328 2.9x - - - 2.5x
Regeneron Pharmaceuticals Inc. 1,732 1,188 7.2x - - - 3.8x
Roche Holding AG 167,596 165,040 3.5x 10.2x 12.1x 17.4x 6.3x
SIRTeX Medical Ltd. 139 130 3.4x 11.x 11.4x 80.4x 6.8x
SkyePharma plc 25 123 2.9x - - - -
Vertex Pharmaceuticals Inc. 4,850 4,407 25.6x - - - 15.9x
Wyeth 54,027 52,944 2.3x 7.1x 8.1x 12.3x 3.7x
ZymoGenetics, Inc. 591 503 10.7x - - - 7.5x
   High 25.6x 57.7x 153.5x 86.3x 50.9x
   Low .3x 2.7x 3.6x 6.1x 1.2x
   Mean 5.9x 16.x 23.3x 28.x 9.9x
  Median 3.4x 13.1x 17.8x 23.9x 6.3x