Académique Documents
Professionnel Documents
Culture Documents
2013
Revenues
Pharmaceutical net sales
Contract manufacturing net sales
761,347
37,582
798,929
74,365
724,564
152,856
56,408
59,730
4,055
10,958
719
284,726
439,838
250
(548)
439,540
146,931
292,609
(35)
$
$
(3,258)
289,316
4.99
4.76
58,616
61,447
$
1.10
ome
509,292
509,292
2011
$ 218,169
218,169
9.3%
90.7%
28,555
480,737
5.6%
94.4%
12,459 5.7%
205,710 94.3%
19.1%
7.1%
7.5%
0.5%
114,139
33,596
34,269
1,219
22.4%
6.6%
6.7%
0.2%
56,728 26.0%
17,743 8.1%
16,778 7.7%
1,044 0.5%
1.4%
0.1%
35.6%
55.1%
0.0%
-0.1%
55.0%
18.4%
36.6%
987
184,210
296,527
703
297,230
99,555
197,675
0.0%
0.2%
36.2%
58.2%
0.1%
0.0%
58.4%
19.5%
38.8%
299
92,592
113,118
627
113,745
34,154
$ 79,591
0.0%
0.1%
42.4%
51.8%
0.3%
0.0%
52.1%
15.7%
36.5%
0.0%
76
0.0%
(59) 0.0%
-0.4%
36.2%
197,751
0.0%
38.8%
0.0%
79,532 36.5%
$
$
3.28
3.14
$
$
60,243
63,045
$
0.40
1.27
1.21
62,498
66,010
$
ASSETS
Current assets:
Cash and cash equivalents
Short-term investments
Total cash, cash equivalents and short-term
investments
Accounts receivable, net of allowances for doubtful
accounts of $475 and $0 at December 31, 2013 and
December 31, 2012, respectively
Inventories, net of allowances of $1,329 and $52 at
December 31, 2013 and December 31, 2012,
respectively
Restricted cash - current portion
Prepaid expenses and other current assets
Deferred tax assets
Total current assets
Property and equipment, net
Purchased technology, net
Goodwill
In process R&D asset
Intangibles and other non current assets
Restricted cash
Deposits and other assets
Deferred tax assets
Total assets
December 31,
2013
2012
80,608
74,705
32%
30%
33%
155,313
62%
12%
61,417
24%
175,840
69,166
24%
9%
245,006
87,069
16,368 2%
9,909 4%
25,000 3%
7,124 1%
4,900 2%
16,209 2%
5,737 2%
396,776 54%
237,276 94%
31,733 4%
2,073 1%
1,493 1%
20,464 3%
191,451 26%
30,131 4%
50,000 7%
389
70
15,410 2%
11,519 5%
736,354 100% $ 252,431 100%
December 31,
2013
14,302
16,489
35,370
35,163
18,093
4,238
25,000
3,693
1,665
7,159
161,172
13,998
33,224
115,066
10,569
2,961
336,990
2012
2%
2%
5%
5%
2%
1%
3%
1%
0%
1%
22%
2%
5%
16%
1%
0%
46%
13,069
21,300
37,376
9,802
7,360
1,492
90,399
203
90,602
5%
3%
5%
1%
0%
0%
0%
1%
0%
0%
12%
0%
0%
0%
0%
0%
12%
30,386 4%
15,938 2%
372,231 51%
145,851 20%
(3,253) 0%
40 0%
399,364 54%
161,829 22%
736,354 100% $ 252,431 34%
60,137,758
58544206
54.45
n/a
$ 292,609
197,675
28,753
(14,849)
412
14,172
719
95
15,792
241
1,330
1,219
987
72
6,429
4,529
1,892
(19,155)
4,577
(1,335)
(589)
(4,811)
25,361
(2,006)
(3,667)
3,307
1,335
337,778
(33,616)
(4,683)
6,940
(1,509)
7,566
9,710
5,463
3,257
7,360
1,317
(84)
219,037
(120,645)
(145,384)
125,737
191,105
(3,536)
(1,065)
acquisition of Synacthen
Acquisition of BioVectra, net of cash
acquired
Acquisition of Synacthen
Proceeds from sale of Doral
Changes in deposits and other assets
Net cash (used in) / provided by investing
activities
Cash Flows From Financing Activities
Repayment of funded long-term debt
Repayment of other long-term debt
Income tax benefit realized from share-based
compensation plans
Issuance of common stock, net
Dividends paid
Repurchase of common stock
Net cash (used in) / provided by financing
activities
Impact of exchange rate on cash flows
(75,000)
(46,692)
(60,000)
700
2,119
(14)
(177,317)
(1,219)
(491)
44,642
-
22,809
15,940
(48,136)
(53,054)
7,488
6,335
(23,533)
(261,830)
(64,151)
(1,078)
(271,540)
-
2011
$ 79,591
7,326
(4,896)
1,250
1,044
299
11
(16,673)
(1,500)
(3,408)
(1,527)
1,634
7,432
3,030
12,608
(504)
(118)
85,599
(162,301)
112,636
(1,823)
9
(51,479)
17,712
6,582
(11,453)
12,841
-
2012
Ratio
Current ratio
Quick ratio
Inventory turnover
Days to Sell
Receivables Turnover
Days to Collect
Debt ratio
Times Interest Earned
Fixed Charge Ratio
Net Profit margin
ROA
ROE
Discussion with industry averages
6 Free Cash Flow 10
7 P/E Ratio for the 2 years 10
8 DuPont Analysis 10
9 Written Analysis 16
2.46
2.36
5.66
64.49
10.76
33.92 days
0.85
1,759.35
0.37
0.40
0.73
2.62
2.52
n/a
n/a
n/a
n/a
0.38
421.80
0.39
0.78
1.22
Industry Average
Altman's Z-Score
Variable
X1
X2
X3
X4
X5
Coefficient (CE)
1.2
1.4
3.3
0.6
1
372,231
Xn
(CE*Xn)
0.32
0.38
0.94
1.31
1.11
3.66
9.72
5.83
1.08
1.08
Z-Score=
12.27