Valeant provided guidance for 2013, projecting revenue of $4.4-4.8 billion (35% growth over 2012), cash EPS of $5.45-5.75 (35% growth), and adjusted cash flow from operations of $1.5-1.75 billion (40% growth). They also outlined assumptions including impacts from generics, divestitures, and acquisitions. Additionally, they announced new segment reporting of Developed Markets and Emerging Markets and strategic initiatives including debt reduction, integration of Medicis, building therapeutic areas, product approvals and launches, margin improvement, and government reimbursement levels under 20%.
Nordion reported first quarter 2013 earnings. Revenue increased 1% to $53.7 million compared to the first quarter of 2012. However, the company reported a GAAP net loss of $0.3 million. Adjusted net income decreased to $4.1 million from $7.1 million in the prior year quarter. Revenue from targeted therapies increased 9% due to new site additions, while earnings decreased 54% due to higher spending on sales and marketing and clinical trials. Revenue from sterilization technologies was up 2% but earnings decreased 21% on lower cobalt-60 sales. Medical isotope revenue declined 2.6% and earnings fell 19% as reactor isotope sales decreased 3%. Nordion expects targeted therapies revenue to
Nordion is a global health science company that provides medical isotopes and sterilization technologies. It has approximately 450 employees serving over 500 customers in more than 40 countries. Nordion is focused on optimizing its medical isotopes business and maintaining its sterilization business. It is also committed to environmental, health and safety standards. Nordion's talented employees work to maintain a global leadership position and build shareholder value.
Valeant reported strong financial results for Q2 2015 that exceeded guidance. Key highlights included:
- Revenue of $2.7 billion, up 34% year-over-year, and cash EPS of $2.56, up 34% year-over-year.
- Continued outperformance of core businesses such as dermatology, ophthalmology, and neurology/generics in the US.
- Salix acquisition exceeded expectations with Xifaxan sales growing and synergies achieved.
- Guidance increased for 2015 with total revenue expected to be $10.7-11.1 billion and cash EPS $11.50-$11.80.
The document is Avery Dennison's 2007 Annual Report. It provides an overview of the company's financial performance in 2007 as well as a summary of activities in each of its business segments. Some key points:
- Net sales increased to $6.31 billion in 2007, up from $5.58 billion in 2006. However, net income declined to $303.5 million from $358.5 million due to acquisition and integration costs.
- A major event was the acquisition of Paxar, which doubled the size of the Retail Information Services business and positions Avery Dennison as a leader in retail branding and information management.
- Emerging markets continued to show strong growth, now representing
The document provides an analysis of the Indian pharmaceutical market and the performance of Novartis and IPCA, two pharmaceutical companies operating in India. It summarizes that the Indian pharmaceutical market is growing at 15.4% annually and is poised to reach $25 billion by 2010. However, factors like low public healthcare spending and currency appreciation are challenges. The analysis finds that Novartis has stronger leverage, profitability, liquidity and asset utilization compared to IPCA, making Novartis a more attractive investment option for shareholders.
Financial analysis of novartis pharmaceuticalsyashicaj9
Novartis Pharmaceuticals is an international healthcare company headquartered in Switzerland. The document analyzes Novartis' financial performance in India from 2012-2011 through ratio analysis. Key findings include:
1. Liquidity ratios like current and quick ratios show Novartis had a more satisfactory short-term financial position in 2011 compared to 2012.
2. Leverage and proprietary ratios measuring long-term solvency were satisfactory for both years.
3. Turnover ratios for inventory, fixed assets, and working capital were generally higher in 2011, indicating more efficient utilization of company resources that year compared to 2012.
4. Overall, the ratio analysis found Novartis' financial management
1) Valeant reported strong third quarter 2012 results with total revenue of $884 million, up 47% from the third quarter of 2011, and cash EPS of $1.15, up 74% year-over-year.
2) The company's past acquisitions continue to perform well or exceed expectations, with most acquisitions achieving revenue CAGRs of 10-30% above forecasted levels.
3) Management provided an update on the pending Medicis acquisition and efinaconazole development program and reaffirmed 2012 financial guidance during the conference call discussing the company's third quarter results.
Valeant reported strong third quarter 2012 financial results, with total revenue of $884 million, up 47% from the third quarter of 2011. Cash earnings per share were $1.15, an increase of 74% over the prior year. Recent acquisitions continue to perform well and exceed deal models. Integration planning for the pending Medicis acquisition is ahead of schedule. Financial guidance for 2012 was updated, with adjusted cash flow from operations expected between $1.2-1.3 billion.
Nordion reported first quarter 2013 earnings. Revenue increased 1% to $53.7 million compared to the first quarter of 2012. However, the company reported a GAAP net loss of $0.3 million. Adjusted net income decreased to $4.1 million from $7.1 million in the prior year quarter. Revenue from targeted therapies increased 9% due to new site additions, while earnings decreased 54% due to higher spending on sales and marketing and clinical trials. Revenue from sterilization technologies was up 2% but earnings decreased 21% on lower cobalt-60 sales. Medical isotope revenue declined 2.6% and earnings fell 19% as reactor isotope sales decreased 3%. Nordion expects targeted therapies revenue to
Nordion is a global health science company that provides medical isotopes and sterilization technologies. It has approximately 450 employees serving over 500 customers in more than 40 countries. Nordion is focused on optimizing its medical isotopes business and maintaining its sterilization business. It is also committed to environmental, health and safety standards. Nordion's talented employees work to maintain a global leadership position and build shareholder value.
Valeant reported strong financial results for Q2 2015 that exceeded guidance. Key highlights included:
- Revenue of $2.7 billion, up 34% year-over-year, and cash EPS of $2.56, up 34% year-over-year.
- Continued outperformance of core businesses such as dermatology, ophthalmology, and neurology/generics in the US.
- Salix acquisition exceeded expectations with Xifaxan sales growing and synergies achieved.
- Guidance increased for 2015 with total revenue expected to be $10.7-11.1 billion and cash EPS $11.50-$11.80.
The document is Avery Dennison's 2007 Annual Report. It provides an overview of the company's financial performance in 2007 as well as a summary of activities in each of its business segments. Some key points:
- Net sales increased to $6.31 billion in 2007, up from $5.58 billion in 2006. However, net income declined to $303.5 million from $358.5 million due to acquisition and integration costs.
- A major event was the acquisition of Paxar, which doubled the size of the Retail Information Services business and positions Avery Dennison as a leader in retail branding and information management.
- Emerging markets continued to show strong growth, now representing
The document provides an analysis of the Indian pharmaceutical market and the performance of Novartis and IPCA, two pharmaceutical companies operating in India. It summarizes that the Indian pharmaceutical market is growing at 15.4% annually and is poised to reach $25 billion by 2010. However, factors like low public healthcare spending and currency appreciation are challenges. The analysis finds that Novartis has stronger leverage, profitability, liquidity and asset utilization compared to IPCA, making Novartis a more attractive investment option for shareholders.
Financial analysis of novartis pharmaceuticalsyashicaj9
Novartis Pharmaceuticals is an international healthcare company headquartered in Switzerland. The document analyzes Novartis' financial performance in India from 2012-2011 through ratio analysis. Key findings include:
1. Liquidity ratios like current and quick ratios show Novartis had a more satisfactory short-term financial position in 2011 compared to 2012.
2. Leverage and proprietary ratios measuring long-term solvency were satisfactory for both years.
3. Turnover ratios for inventory, fixed assets, and working capital were generally higher in 2011, indicating more efficient utilization of company resources that year compared to 2012.
4. Overall, the ratio analysis found Novartis' financial management
1) Valeant reported strong third quarter 2012 results with total revenue of $884 million, up 47% from the third quarter of 2011, and cash EPS of $1.15, up 74% year-over-year.
2) The company's past acquisitions continue to perform well or exceed expectations, with most acquisitions achieving revenue CAGRs of 10-30% above forecasted levels.
3) Management provided an update on the pending Medicis acquisition and efinaconazole development program and reaffirmed 2012 financial guidance during the conference call discussing the company's third quarter results.
Valeant reported strong third quarter 2012 financial results, with total revenue of $884 million, up 47% from the third quarter of 2011. Cash earnings per share were $1.15, an increase of 74% over the prior year. Recent acquisitions continue to perform well and exceed deal models. Integration planning for the pending Medicis acquisition is ahead of schedule. Financial guidance for 2012 was updated, with adjusted cash flow from operations expected between $1.2-1.3 billion.
This annual report summarizes BD's financial and operational performance in fiscal year 2007. Key points:
- Revenues increased 11% to $6.36 billion due to strong sales growth across all business segments. Net income increased 5% to $856 million.
- All business segments - BD Medical, BD Diagnostics, and BD Biosciences - experienced solid revenue growth between 10-13% driven by new product innovations and acquisitions.
- BD remains committed to returning cash to shareholders, spending $690 million (over 56% of operating cash flow) on share repurchases and dividends. The dividend was increased by 16% to $1.14 per share.
- The report
The document summarizes Valeant Pharmaceuticals International's investor day agenda on June 21, 2012. The agenda included opening remarks by Mike Pearson, financial discussions by Howard Schiller, business overviews by Rajiv De Silva, and presentations on emerging markets and specialty pharmaceuticals. Guests in attendance included board members and senior leadership. The document also provided important information about forward-looking statements and non-GAAP financial measures.
Valeant reported strong financial results for Q4 2013 and full year 2013 that exceeded guidance. Q4 product sales were $2.0 billion, a 116% increase year-over-year, and full year product sales were $5.6 billion, a 72% increase. Cash EPS for Q4 was $2.15, a 76% increase, and full year cash EPS was $6.24, a 51% increase excluding certain items. Adjusted cash flow from operations for Q4 was $607 million, a 43% increase, and $1.8 billion for the full year, a 38% increase. Valeant also provided financial guidance for 2014, expecting revenue of $8.2-8
Q1 fy15 earnings presentation final w schedulesCardinal_Health
- Cardinal Health reported financial results for Q1 FY2015 with total revenue of $24.07 billion, down 2% from the previous year. Operating earnings on a non-GAAP basis were $566 million, up 6% from the previous year.
- The Pharmaceutical segment saw a 3% decline in revenue to $21.2 billion due to the expiration of a contract in the prior year, but segment profit increased 4% to $451 million. The Medical segment grew revenue 5% and segment profit 6%.
- For FY2015, Cardinal Health expects non-GAAP EPS to be in the range of $4.10 to $4.30, up from $3.80 in F
This document provides a financial statement analysis of Nestle India Ltd for the years 2011-2015. It includes:
1) An analysis of Nestle's balance sheet, income statement, and cash flow statement over the 5-year period through ratio calculations and common size analyses. Key findings include declining total asset growth but increasing current assets, and liabilities and equity growing steadily.
2) An examination of income statement items like revenues, costs, expenses, EBITA, income tax, and net income which generally increased until 2014 and then declined in 2015.
3) A review of cash flow statement ratios showing a decrease in net cash from operating activities but large decreases in net cash used for investing activities.
GlaxoSmithKline (GSK) is a large pharmaceutical company based in the UK. This document provides an overview of GSK's financial statements including the balance sheet and income statement for 2011-2012. It also describes various tools for analyzing the financial statements such as trend analysis, common size analysis, and financial ratios. Trend analysis shows GSK's net income increased by 16% from 2011-2012, indicating strong profitability. The document aims to analyze GSK's financial performance and position over time using ratio and comparative analyses of the financial statements.
Merck reported strong financial results for the first quarter of 2007. Worldwide sales increased 7% compared to the first quarter of 2006. Key products such as SINGULAIR, vaccines including GARDASIL, and the cholesterol drugs ZETIA and VYTORIN drove company growth. Merck anticipates second quarter EPS between $0.67-$0.71 and reaffirmed its full-year 2007 EPS guidance range.
- Cardinal Health reported Q4 FY2015 revenue of $27.5 billion, an increase of 20% from Q4 FY2014. Operating earnings were $558 million, an increase of 44%.
- Revenue growth was driven by the pharmaceutical segment due to new and existing customer growth. Operating earnings increased due to strong generics program performance and growth.
- For FY2015, revenue increased 13% to $102.5 billion. Non-GAAP operating earnings grew 16% to a record $2.5 billion. Non-GAAP diluted EPS increased 14% to $4.38.
Dr. Reddy's Investorpresentation november2010Biswajit Dash
Dr. Reddy's Investor Presentation from November 2010 contains the following key points in 3 sentences:
Dr. Reddy's is a global pharmaceutical company focused on active pharmaceutical ingredients, generics, and proprietary products with revenues of $1.56 billion in fiscal year 2010. The presentation outlines Dr. Reddy's business priorities to create value for customers through intellectual property and cost leadership while improving depth in key markets. Financial targets for fiscal year 2013 include achieving revenues of $3 billion and a return on capital employed of 25%.
BD is a leading global medical technology company that reported strong financial and operational results in its 2008 Annual Report. Revenues increased 12.5% to $7.15 billion and income from continuing operations increased 31.7% to $1.12 billion. BD invested in innovation and growth initiatives while returning over $700 million to shareholders in share repurchases and dividends. The company aims to improve global health through initiatives that reduce infection, advance therapy and disease management.
This document summarizes Cardinal Health's Q3 FY2015 earnings call. It provides financial results including 18% revenue growth and increases in operating earnings and earnings from continuing operations compared to Q3 FY2014. The pharmaceutical segment saw revenue growth from new and existing customers while the medical segment grew through acquisitions. For FY2015, Cardinal Health expects non-GAAP diluted EPS from continuing operations of $4.28-$4.38, and provides additional FY2015 corporate assumptions and trailing financial results.
Nestle Pakistan Ltd is a subsidiary of Swiss company Nestle S.A., operating in Pakistan since 1988. The document analyzes Nestle's financial statements over 2007-2011 to evaluate its earnings potential and financial condition for a long-term equity investment. Ratio, trend, and common size analyses show generally good profitability, efficiency, and growth, though some liquidity and leverage risks exist. Overall, the author recommends investing in Nestle due to its leading market position and expected continued strong performance.
Daiichi Sankyo acquired Ranbaxy in an all-cash deal valued at $4.9 billion. Daiichi aimed to expand into generics and emerging markets through the acquisition, while Ranbaxy benefited from access to Daiichi's R&D capabilities and the Japanese market. However, Daiichi failed to adequately address regulatory issues at Ranbaxy facilities that were uncovered after the deal, resulting in billions in write-downs and financial losses for Daiichi.
This document discusses the merger between Ranbaxy and Daiichi Sankyo. It provides background on both companies and details of the merger deal. Daiichi Sankyo acquired a 63.92% stake in Ranbaxy for $4.98 billion, valuing Ranbaxy at $8.5 billion. The deal gave Daiichi access to Ranbaxy's low-cost manufacturing base and global operations in 56 countries. It provided Ranbaxy benefits like access to new markets, R&D resources, and the Japanese market. A reverse valuation of Ranbaxy found its fair market price to be between INR 467-834 per share.
- Valeant hosted a conference call to discuss its second quarter 2013 financial results and Bausch + Lomb acquisition
- Valeant reported strong Q2 results with 41% revenue growth, 54% growth in cash EPS, and 61% growth in adjusted cash flow
- Bausch + Lomb integration is proceeding well and synergies are expected to exceed $800 million target, with over $500 million run rate by end of 2013
- Financial guidance for 2013 was updated for the combined company to reflect projected pro forma revenues of $6.6-7.3 billion, adjusted cash EPS of $5.55-6.15, and adjusted cash flow from operations of $2.2-2.75 billion
Working Capital Analysis on PRAN-RFL Company [Financial Management] Masud Kamrul
Working capital refers to the funds used by a company for its day-to-day business operations. There are two types of working capital - gross working capital, which includes all current assets, and net working capital, which is current assets minus current liabilities. Working capital is needed to purchase raw materials, pay wages and expenses, provide customer credit, and maintain inventory levels. The document analyzes the working capital of PRAN-RFL Company over several years and finds its net working capital ratio has remained stable at around 173%, indicating the company maintains sufficient current assets to cover its current liabilities.
Masco reported its financial results for the fourth quarter and full year of 2012. Key highlights included improved fourth quarter results that provided momentum heading into 2013, with sales growth driven by increased North American new home construction and successful new product introductions. All of Masco's business segments contributed to increased sales and operating margin growth in the fourth quarter. Masco also delivered on its strategic priorities for 2012, which included improving its cabinetry and installation service businesses, reducing debt, investing in growth, and gaining market share in key brands.
Valeant Pharmaceuticals International, Inc. proposed acquiring Allergan, Inc. to create an unrivaled platform for growth and value creation in healthcare. The document outlines that the combination would be strategically and financially compelling for both companies' shareholders by creating significant earnings and share price accretion. It also defends Valeant against erroneous statements about its financials and operating model made by Allergan and short sellers. Valeant remains committed to pursuing the deal, which it believes both sets of shareholders should have the opportunity to vote on.
Valeant outlined its approach to growth through acquisitions and cost synergies in a presentation. It highlighted accelerating organic growth at acquired companies like Bausch + Lomb from 4% to over 10% through volume growth. Valeant also emphasized its output-driven R&D approach that has delivered more launches than competitors, and said it would deliver on Allergan's requirements at lower cost through a lean R&D model. The presentation concluded by noting Valeant's strong track record of capital deployment has generated superior returns on acquisitions.
Valeant held an investor conference call to discuss its relationship with Philidor RX Services, LLC, a specialty pharmacy. Valeant had a pilot program with Philidor starting in 2012 and obtained an option to acquire Philidor in January 2013. Philidor's network grew substantially since then and represented 6.8% of Valeant's revenue in Q3 2015. However, questions remained around Valeant's diligence, oversight, and control of Philidor as well as Philidor's accounting and disclosure.
This annual report summarizes BD's financial and operational performance in fiscal year 2007. Key points:
- Revenues increased 11% to $6.36 billion due to strong sales growth across all business segments. Net income increased 5% to $856 million.
- All business segments - BD Medical, BD Diagnostics, and BD Biosciences - experienced solid revenue growth between 10-13% driven by new product innovations and acquisitions.
- BD remains committed to returning cash to shareholders, spending $690 million (over 56% of operating cash flow) on share repurchases and dividends. The dividend was increased by 16% to $1.14 per share.
- The report
The document summarizes Valeant Pharmaceuticals International's investor day agenda on June 21, 2012. The agenda included opening remarks by Mike Pearson, financial discussions by Howard Schiller, business overviews by Rajiv De Silva, and presentations on emerging markets and specialty pharmaceuticals. Guests in attendance included board members and senior leadership. The document also provided important information about forward-looking statements and non-GAAP financial measures.
Valeant reported strong financial results for Q4 2013 and full year 2013 that exceeded guidance. Q4 product sales were $2.0 billion, a 116% increase year-over-year, and full year product sales were $5.6 billion, a 72% increase. Cash EPS for Q4 was $2.15, a 76% increase, and full year cash EPS was $6.24, a 51% increase excluding certain items. Adjusted cash flow from operations for Q4 was $607 million, a 43% increase, and $1.8 billion for the full year, a 38% increase. Valeant also provided financial guidance for 2014, expecting revenue of $8.2-8
Q1 fy15 earnings presentation final w schedulesCardinal_Health
- Cardinal Health reported financial results for Q1 FY2015 with total revenue of $24.07 billion, down 2% from the previous year. Operating earnings on a non-GAAP basis were $566 million, up 6% from the previous year.
- The Pharmaceutical segment saw a 3% decline in revenue to $21.2 billion due to the expiration of a contract in the prior year, but segment profit increased 4% to $451 million. The Medical segment grew revenue 5% and segment profit 6%.
- For FY2015, Cardinal Health expects non-GAAP EPS to be in the range of $4.10 to $4.30, up from $3.80 in F
This document provides a financial statement analysis of Nestle India Ltd for the years 2011-2015. It includes:
1) An analysis of Nestle's balance sheet, income statement, and cash flow statement over the 5-year period through ratio calculations and common size analyses. Key findings include declining total asset growth but increasing current assets, and liabilities and equity growing steadily.
2) An examination of income statement items like revenues, costs, expenses, EBITA, income tax, and net income which generally increased until 2014 and then declined in 2015.
3) A review of cash flow statement ratios showing a decrease in net cash from operating activities but large decreases in net cash used for investing activities.
GlaxoSmithKline (GSK) is a large pharmaceutical company based in the UK. This document provides an overview of GSK's financial statements including the balance sheet and income statement for 2011-2012. It also describes various tools for analyzing the financial statements such as trend analysis, common size analysis, and financial ratios. Trend analysis shows GSK's net income increased by 16% from 2011-2012, indicating strong profitability. The document aims to analyze GSK's financial performance and position over time using ratio and comparative analyses of the financial statements.
Merck reported strong financial results for the first quarter of 2007. Worldwide sales increased 7% compared to the first quarter of 2006. Key products such as SINGULAIR, vaccines including GARDASIL, and the cholesterol drugs ZETIA and VYTORIN drove company growth. Merck anticipates second quarter EPS between $0.67-$0.71 and reaffirmed its full-year 2007 EPS guidance range.
- Cardinal Health reported Q4 FY2015 revenue of $27.5 billion, an increase of 20% from Q4 FY2014. Operating earnings were $558 million, an increase of 44%.
- Revenue growth was driven by the pharmaceutical segment due to new and existing customer growth. Operating earnings increased due to strong generics program performance and growth.
- For FY2015, revenue increased 13% to $102.5 billion. Non-GAAP operating earnings grew 16% to a record $2.5 billion. Non-GAAP diluted EPS increased 14% to $4.38.
Dr. Reddy's Investorpresentation november2010Biswajit Dash
Dr. Reddy's Investor Presentation from November 2010 contains the following key points in 3 sentences:
Dr. Reddy's is a global pharmaceutical company focused on active pharmaceutical ingredients, generics, and proprietary products with revenues of $1.56 billion in fiscal year 2010. The presentation outlines Dr. Reddy's business priorities to create value for customers through intellectual property and cost leadership while improving depth in key markets. Financial targets for fiscal year 2013 include achieving revenues of $3 billion and a return on capital employed of 25%.
BD is a leading global medical technology company that reported strong financial and operational results in its 2008 Annual Report. Revenues increased 12.5% to $7.15 billion and income from continuing operations increased 31.7% to $1.12 billion. BD invested in innovation and growth initiatives while returning over $700 million to shareholders in share repurchases and dividends. The company aims to improve global health through initiatives that reduce infection, advance therapy and disease management.
This document summarizes Cardinal Health's Q3 FY2015 earnings call. It provides financial results including 18% revenue growth and increases in operating earnings and earnings from continuing operations compared to Q3 FY2014. The pharmaceutical segment saw revenue growth from new and existing customers while the medical segment grew through acquisitions. For FY2015, Cardinal Health expects non-GAAP diluted EPS from continuing operations of $4.28-$4.38, and provides additional FY2015 corporate assumptions and trailing financial results.
Nestle Pakistan Ltd is a subsidiary of Swiss company Nestle S.A., operating in Pakistan since 1988. The document analyzes Nestle's financial statements over 2007-2011 to evaluate its earnings potential and financial condition for a long-term equity investment. Ratio, trend, and common size analyses show generally good profitability, efficiency, and growth, though some liquidity and leverage risks exist. Overall, the author recommends investing in Nestle due to its leading market position and expected continued strong performance.
Daiichi Sankyo acquired Ranbaxy in an all-cash deal valued at $4.9 billion. Daiichi aimed to expand into generics and emerging markets through the acquisition, while Ranbaxy benefited from access to Daiichi's R&D capabilities and the Japanese market. However, Daiichi failed to adequately address regulatory issues at Ranbaxy facilities that were uncovered after the deal, resulting in billions in write-downs and financial losses for Daiichi.
This document discusses the merger between Ranbaxy and Daiichi Sankyo. It provides background on both companies and details of the merger deal. Daiichi Sankyo acquired a 63.92% stake in Ranbaxy for $4.98 billion, valuing Ranbaxy at $8.5 billion. The deal gave Daiichi access to Ranbaxy's low-cost manufacturing base and global operations in 56 countries. It provided Ranbaxy benefits like access to new markets, R&D resources, and the Japanese market. A reverse valuation of Ranbaxy found its fair market price to be between INR 467-834 per share.
- Valeant hosted a conference call to discuss its second quarter 2013 financial results and Bausch + Lomb acquisition
- Valeant reported strong Q2 results with 41% revenue growth, 54% growth in cash EPS, and 61% growth in adjusted cash flow
- Bausch + Lomb integration is proceeding well and synergies are expected to exceed $800 million target, with over $500 million run rate by end of 2013
- Financial guidance for 2013 was updated for the combined company to reflect projected pro forma revenues of $6.6-7.3 billion, adjusted cash EPS of $5.55-6.15, and adjusted cash flow from operations of $2.2-2.75 billion
Working Capital Analysis on PRAN-RFL Company [Financial Management] Masud Kamrul
Working capital refers to the funds used by a company for its day-to-day business operations. There are two types of working capital - gross working capital, which includes all current assets, and net working capital, which is current assets minus current liabilities. Working capital is needed to purchase raw materials, pay wages and expenses, provide customer credit, and maintain inventory levels. The document analyzes the working capital of PRAN-RFL Company over several years and finds its net working capital ratio has remained stable at around 173%, indicating the company maintains sufficient current assets to cover its current liabilities.
Masco reported its financial results for the fourth quarter and full year of 2012. Key highlights included improved fourth quarter results that provided momentum heading into 2013, with sales growth driven by increased North American new home construction and successful new product introductions. All of Masco's business segments contributed to increased sales and operating margin growth in the fourth quarter. Masco also delivered on its strategic priorities for 2012, which included improving its cabinetry and installation service businesses, reducing debt, investing in growth, and gaining market share in key brands.
Valeant Pharmaceuticals International, Inc. proposed acquiring Allergan, Inc. to create an unrivaled platform for growth and value creation in healthcare. The document outlines that the combination would be strategically and financially compelling for both companies' shareholders by creating significant earnings and share price accretion. It also defends Valeant against erroneous statements about its financials and operating model made by Allergan and short sellers. Valeant remains committed to pursuing the deal, which it believes both sets of shareholders should have the opportunity to vote on.
Valeant outlined its approach to growth through acquisitions and cost synergies in a presentation. It highlighted accelerating organic growth at acquired companies like Bausch + Lomb from 4% to over 10% through volume growth. Valeant also emphasized its output-driven R&D approach that has delivered more launches than competitors, and said it would deliver on Allergan's requirements at lower cost through a lean R&D model. The presentation concluded by noting Valeant's strong track record of capital deployment has generated superior returns on acquisitions.
Valeant held an investor conference call to discuss its relationship with Philidor RX Services, LLC, a specialty pharmacy. Valeant had a pilot program with Philidor starting in 2012 and obtained an option to acquire Philidor in January 2013. Philidor's network grew substantially since then and represented 6.8% of Valeant's revenue in Q3 2015. However, questions remained around Valeant's diligence, oversight, and control of Philidor as well as Philidor's accounting and disclosure.
Valeant Pharmaceuticals International, Inc. held a presentation at the Jefferies Autumn 2015 Global Healthcare Conference on November 18, 2015. The presentation provided an overview of Valeant, including that it is a multinational specialty pharmaceutical company focused on faster-growing therapeutic areas and geographies. It also summarized Valeant's business model, culture of ownership, commitment to innovation, and highlighted recent product launches and updates.
In light of Hurricane Sandy the Yale-Tulane ESF #8 Planning and Response Program has produced this report.The Yale-Tulane ESF #8 Program is a multi-disciplinary, multi-center, graduate-level, program designed to produce ESF #8 planners and responders with standardized skill sets that are consistent with evolving public policy, technologies, and best practices. The group that produced this summary and analysis of the current situation in Thailand are graduate students from Yale and Tulane Universities.
It was compiled entirely from open source materials. Please feel free to forward the report to anyone who might be interested.
Wil Brown from GraviationalFX shows through the process of easily moving your WordPress install from your old slow server to your new zippy fast one. A Lightning Talk from WP Sydney
Why docpeers for healthcare organizationsDoc Peers
This document covers on why docpeers.com is a must for any hospital/clinic/healthcare organization. Please share your views!!! If you like please do share the document.
some stats about docpeers.com
More than #430 healthcare individuals & organizations registered within 51 days
More than #8 healthcare professionals/Organizations register @ docpeers daily
More than #1200 hits every day
Around 100 Medical Jobs posted within 1 month
Around 100 Medical/Healthcare videos shared within 15 days
Try the http://docpeers.com experience today!!!
In light of the EF-5 Tornado that impacted the towns of Moore, Newcastle, and southern portions of Oklahoma City, the Yale-Tulane ESF #8 Planning and Response Program has produced this special report.
The group that produced this summary and analysis of the current are graduate students from Yale and Tulane Universities as well as alumni.
Joining us with this report are graduate students and alumni from Boston University’s Healthcare Emergency Management Program.
It was compiled entirely from open source materials. Please feel free to forward the report to anyone who might be interested.
Valeant provides revised guidance for Q4 2015 and full year 2015 due to impacts from separating from Philidor and transitioning to a new partnership with Walgreens, estimating a $250M revenue impact from Philidor separation and $150M from the Walgreens transition. Valeant also provides initial guidance for 2016, estimating $12.5-12.7B in revenue and $13.25-13.75 per share in adjusted EPS, representing over 20% growth compared to updated 2015 guidance.
The document is a transcript of a conference call discussing Valeant Pharmaceuticals' fourth quarter and full year 2012 financial results. The summary is:
1) Valeant reported strong growth in 2012 with product sales up 47% to $3.31 billion and total revenue up 44% to $3.55 billion.
2) Cash EPS grew 54% to $4.51 for the full year, exceeding guidance. Adjusted cash flow from operations was $1.29 billion, up 40%.
3) Organic growth was solid with same store sales up 8% and pro forma sales up 10% for the year, led by double-digit growth in key dermatology brands.
Valeant provided financial guidance for 2014, projecting revenue of $8.2-8.6 billion (approximately 40% growth over 2013), cash EPS of $8.25-8.75 (approximately 40% growth), and adjusted cash flows from operations of $2.4-2.6 billion (approximately 40% growth). The guidance assumes continued organic growth across business units, completion of the Bausch + Lomb integration achieving over $850 million in synergies, and new product launches. Valeant aims to reduce its leverage ratio to below 4x adjusted pro forma EBITDA by year-end 2014.
The document provides guidance for Valeant Pharmaceuticals' 2015 financial outlook. It projects revenue of $9.2-9.3 billion, representing 14-15% growth over 2014. Cash EPS is projected at $10.10-10.40, a 21-25% increase. Adjusted cash flow from operations is projected to be over $3.1 billion, a 25%+ increase. The guidance assumes continued strong organic growth across business units and key product launches delivering over $500 million in revenues.
Valeant reported strong financial results for Q2 2015 that exceeded guidance. Key highlights included continued outperformance of U.S. businesses such as dermatology and ophthalmology, and a fast start for recently acquired Salix which exceeded expectations. Valeant increased full-year 2015 guidance due to the outperformance and approval of a new drug indication. Several acquisitions were also completed or announced in the quarter to further expand the company's business.
Valeant reported financial results for the first quarter of 2015 with total revenue increasing 16% year-over-year to $2.19 billion. Cash EPS grew 34% to $2.36. Organic growth across businesses was strong at 15% overall and 21% on a pro forma basis including recently acquired companies. Valeant increased full-year 2015 Cash EPS guidance to $10.90-$11.20 due to outperformance. Integrations of Salix and Dendreon were largely complete with both acquisitions expected to deliver significant synergies. Top-selling products such as Jublia, Wellbutrin, and Isuprel contributed strongly to revenue growth.
- The company reported strong financial results for the first quarter of 2013, with product sales growth of 38% and adjusted cash flow growth of 35% compared to the first quarter of 2012.
- Key U.S. brands such as Acanya, Arestin, CeraVe and Ziana performed well compared to budget expectations.
- Emerging markets showed strong organic growth, with Central/Eastern Europe and Latin America growing 11% and 7% respectively.
- Synergies from the Medicis acquisition are expected to exceed original estimates, with a run rate of over $300 million by the end of the year versus the original estimate of $225 million.
- The company reported strong financial results for the first quarter of 2013, with product sales growth of 38% and adjusted cash flow growth of 35% compared to the first quarter of 2012.
- Key U.S. brands such as Acanya, Arestin, and CeraVe performed well relative to budget. Emerging markets also saw strong organic growth.
- The company updated its financial guidance for 2013, raising the projected range for adjusted cash EPS to $5.55 - $5.85 billion and reaffirming its adjusted cash flow from operations guidance of $1.5 - $1.75 billion.
- Synergies from the Medicis acquisition are expected to exceed original estimates, with a
Valeant provided an update on its Q4 2014 operational highlights and guidance. It reported strong organic growth across most business units, with total company organic growth expected to be over 12% for Q4 and over 10% for the full year. It also made progress on its R&D pipeline and completed several business development deals. Valeant maintained its revenue guidance of $2.1-2.3 billion for Q4 but raised its cash EPS guidance to over $2.55 and reiterated its adjusted cash flow from operations guidance of approximately $600 million.
The document is a summary of Valeant Pharmaceuticals' third quarter 2013 financial results conference call. It reports strong revenue and earnings growth in Q3 2013 driven by acquisitions. However, currency impacts, Bausch + Lomb pre-close costs, and an earlier generic launch reduced results slightly below previous guidance. New full-year 2013 guidance is provided for revenues of $5.7-5.9 billion and adjusted cash EPS of $6.11-6.16.
Kellogg Company reported lower than expected financial results for the first quarter of 2012. Net sales grew 0% internally while operating profit declined 6% internally due to weakness in Europe impacting results. The acquisition of Pringles and integration planning is on track. The outlook for full-year 2012 is adjusted with internal net sales growth expected to be 2-3% and operating profit growth expected to be lower by 2-4% due to significant investment in innovation, brand building, and SAP.
- Cardinal Health reported financial results for its third quarter of fiscal year 2014, ended March 31, 2014.
- Total revenue decreased 13% to $18.8 billion compared to the same period last year, driven by the expiration of a contract with Walgreens, partially offset by growth with new and existing customers.
- Operating earnings were $508 million, a 7% increase, and non-GAAP operating earnings were $561 million, a 3% decrease.
- Cardinal Health reported financial results for its third quarter of fiscal year 2014, ended March 31, 2014.
- Total revenue decreased 13% to $18.8 billion compared to the same period last year, driven by the expiration of a contract with Walgreens, partially offset by growth with new and existing customers.
- Operating earnings were $508 million, a 7% increase, and non-GAAP operating earnings were $561 million, a 3% decrease.
Eli Lilly and Company is a global pharmaceutical company founded in 1876. In 2014, Eli Lilly's revenue declined 15% to $19.6 billion due to patent expirations and exchange rate impacts. However, the company completed several acquisitions and collaborations to advance its pipeline. Eli Lilly maintained its dividend at $1.96 per share and repurchased $300 million in stock. While profit margins declined, returns exceeded industry averages and the company remained profitable and financially stable.
FY 2014 results saw solid financial performance for Sanofi, with business EPS up 7.3% at constant exchange rates. Net sales grew 4.9% at constant exchange rates, driven by strong growth across growth platforms. Looking ahead, Sanofi expects 2015 business EPS to be stable to slightly growing at constant exchange rates, barring major unforeseen events. Key highlights in 2014 included important regulatory approvals, pipeline progress, and nearly €5.5 billion returned to shareholders.
This document contains the transcript from Cardinal Health's Q4 FY2013 earnings call. Some of the key points discussed include:
- Cardinal Health reported Q4 revenue of $25.4 billion, down 5% year-over-year, and non-GAAP EPS of $0.79, up 8% year-over-year.
- For FY2013, revenue was $101.1 billion, down 6% year-over-year, and non-GAAP EPS was $3.73, up 16% year-over-year.
- The Pharmaceutical segment reported Q4 revenue of $22.8 billion, down 6% year-over-year, driven by
Q4 fy14 earnings presentation final schedulesCardinal_Health
This document summarizes Cardinal Health's Q4 and FY2014 earnings call. Some key points:
- Revenue increased 8% excluding the Walgreens contract expiration, and margins expanded.
- Non-GAAP operating earnings grew 4% to $2.1 billion and EPS grew 3% despite a $17 billion revenue impact from Walgreens.
- $2.5 billion in operating cash flow was generated and $1.1 billion was returned to shareholders through dividends and share repurchases.
- For FY2015, revenue is expected to grow in the low-single digit range and non-GAAP EPS is expected to grow in the mid-single digit range excluding any potential tax benefits
P&G's 2016 annual report provides financial highlights and discusses progress and challenges over the fiscal year. Net sales declined 8% to $65.3 billion due to divestitures and foreign exchange impacts, while core earnings per share declined slightly. The report discusses steps taken to streamline products, improve productivity and costs, and invest in growth. These include exiting unprofitable product lines, reducing overhead costs, and delivering over $10 billion in savings over 5 years. Progress was made in a difficult environment with foreign exchange headwinds, but more work is needed to strengthen growth and performance.
Nordion reported its financial results for the fourth quarter of fiscal year 2012. Total revenue was $74.7 million, with a GAAP net loss of $43.5 million. However, adjusted net income was $21.4 million, up 14% from the fourth quarter of 2011. Targeted Therapies revenue grew 10% to $32.5 million in the quarter. Sterilization Technologies revenue was $32.3 million. Medical Isotopes revenue declined slightly to $30.3 million. For fiscal year 2013, Nordion expects revenue growth in Targeted Therapies and stable revenue in Sterilization Technologies, but a 20% decline in Medical Isotopes revenue.
George S. Barrett, Chairman and Chief Executive Officer of Cardinal Health, presided over the company's Annual Meeting of Shareholders on November 8, 2017. The agenda included matters to be voted on such as electing directors, ratifying the independent auditor, and advisory votes on executive compensation. Barrett discussed Cardinal Health's acquisition of the Patient Recovery business and highlighted the company's strong financial performance over the past five years. He also outlined Cardinal Health's strategies focused on long-term shareholder value creation and balanced capital deployment.
- Cardinal Health reported financial results for Q1 FY2016 with revenue increasing 17% year-over-year to $28.1 billion and non-GAAP diluted EPS increasing 38% to $1.38.
- The Pharmaceutical segment saw a 19% revenue increase to $25.1 billion and a 46% increase in segment profit to $657 million due to growth from existing and new customers.
- The Medical segment reported a 2% revenue increase to $2.9 billion but an 11% decline in segment profit to $101 million primarily due to Cardinal Health's Canada business.
- For FY2016, Cardinal Health expects mid-teens revenue growth and non-GAAP diluted EPS between
Similar to Guidance presentation jan 2013 final (20)
Valeant Pharmaceuticals International provided a Q3 2015 financial results presentation. Key points include:
- They exceeded Q3 revenue and earnings guidance, reporting their 5th consecutive quarter of over 10% organic growth.
- Growth was driven by strong performance in the U.S., China, South Korea and Mexico. Xifaxan sales increased significantly.
- They continued reducing Salix inventory levels and increasing sales of key Salix products.
- Addyi was launched on October 17th.
- They provided increased Q4 and full year 2015 guidance and reaffirmed expectations to exceed $7.5 billion in EBITDA in 2016.
- The presentation reflected on their strategy, emphasizing growth
This document summarizes the 2015 annual meeting of Valeant Pharmaceuticals International, Inc. held on May 19, 2015 in Laval, Quebec, Canada. It introduces the board of directors and executive management in attendance. It reports that all proposed resolutions, including electing directors and ratifying the auditor, received over 90% shareholder approval. The document provides an overview of Valeant's business model, product portfolio, acquisition and R&D strategies, and highlights key pipeline and launch products. It concludes by emphasizing Valeant's track record of strong financial performance and shareholder returns.
Valeant reported financial results for Q4 2014 and full year 2014. Q4 revenue was $2.3 billion, a 10% increase over Q4 2013. Cash EPS was $2.58 compared to $2.15 last year. Guidance for Q1 2015 includes revenue of approximately $2.2 billion and cash EPS of $2.55. Valeant also provided an update on the Dendreon and Salix acquisitions.
Valeant Pharmaceuticals provided a summary of its Q4 2014 financial results and Q1 2015 guidance. Q4 total revenue was $2.3 billion, a 10% increase over Q4 2013. Cash EPS was $2.58, a 20% increase. Organic growth for the total company was 16%. Bausch + Lomb organic growth was 8% for Q4 and 11% for full year 2014. Guidance for Q1 2015 includes total revenue of approximately $2.2 billion and cash EPS of $2.55 or higher. Restructuring and integration costs are expected to be less than $25 million in Q1 2015.
Valeant Pharmaceuticals provided a summary of its Q4 2014 financial results and Q1 2015 guidance. Q4 total revenue was $2.3 billion, a 10% increase over Q4 2013. Cash EPS was $2.58, a 20% increase. Organic growth for the total company was 16%. Bausch + Lomb organic growth was 8% for Q4 and 11% for full year 2014. Guidance for Q1 2015 includes total revenue of approximately $2.2 billion and cash EPS of $2.55 or higher. Restructuring and integration costs are expected to be less than $25 million in Q1 2015.
Valeant Pharmaceuticals provided a summary of its Q4 2014 financial results and Q1 2015 guidance. Q4 total revenue was $2.3 billion, a 10% increase over Q4 2013. Cash EPS was $2.58, a 20% increase. Organic growth for the total company was 16%. Bausch + Lomb organic growth was 8% for Q4 and 11% for full year 2014. Guidance for Q1 2015 includes total revenue of approximately $2.2 billion and cash EPS of $2.55 or higher. Restructuring and integration costs are expected to be less than $25 million for Q1.
Based on projected 2014 revenues, 51% of the company's revenue came from the United States, with the remaining 49% coming from international markets. By business, 41% of revenue was from devices, 21% from Generics/Biosimilars, 18% from OTC/Solutions, and 10% from Rx. Public pay such as contact lenses, surgery, and injectable aesthetics made up 25% of total revenue, with the remaining 75% coming from Solta.
Valeant reported strong financial results for the third quarter of 2014, with total revenue growing 33% year-over-year to $2.1 billion and cash EPS growing 48% to $2.11. Several key business segments saw double-digit organic growth, including the recently acquired Bausch + Lomb business and emerging markets. Valeant also provided an update on its proposed acquisition of Allergan, noting potential regulatory hurdles and uncertainties remaining around a potential combination.
Valeant reported financial results for Q2 2014, with total revenue increasing 86% year-over-year to $2.041 billion. Organic growth accelerated significantly compared to Q1, though the sale of facial injectable assets reduced growth rates. Key highlights included FDA approval and launch of Jublia, three small acquisitions, and restructuring the Bausch + Lomb plant in Ireland. Valeant provided guidance for the remainder of 2014 and through 2016, expecting continued revenue and earnings growth. An update on the potential Allergan acquisition was also provided.
Valeant Pharmaceuticals International, Inc. revised its offer to acquire Allergan, Inc. on June 2, 2014. The revised offer provides Allergan shareholders $72 per share in cash and 0.83 shares of Valeant stock for each Allergan share. Pershing Square Capital Management, a large shareholder in both companies, agreed to accept only Valeant stock for its Allergan shares at a discounted price in order to provide more cash consideration to other Allergan shareholders. The revised offer is superior to the standalone value of Allergan and provides substantial synergies that increase the pro forma cash earnings per share of the combined company by approximately 25%.
Valeant reported strong financial results for Q1 2014, with product sales increasing 78% year-over-year to $1.85 billion and adjusted cash flow from operations growing 84% to $636 million. Organic growth was positive across regions and business units, led by dermatology, contact lenses, and ophthalmology in the US. Valeant remains active in business development, with over 20 transactions expected to close in 1H 2014. The company provided an update on its offer to acquire Allergan, noting overwhelmingly positive feedback from shareholders of both companies regarding the strategic benefits of the combination. Valeant intends to request information from Allergan and potentially pursue actions to engage the board or remove members to
Valeant Pharmaceuticals proposes acquiring Allergan in an unrivaled platform for growth in healthcare. The transaction offers a substantial premium to Allergan shareholders and is expected to generate $2.7 billion or more in annual cost synergies. It would create an unrivaled portfolio in ophthalmology, dermatology, and aesthetics. Valeant has committed financing and there are no antitrust issues, allowing the transaction to close with sustainable long-term value for shareholders of the combined company.
Valeant Pharmaceuticals announced its acquisition of Bausch + Lomb to create a global leader in eye health. The $8.7 billion deal will make Valeant a top competitor in ophthalmic pharmaceuticals, surgical products, and vision care. Valeant expects to achieve at least $800 million in cost synergies by the end of 2014. The combined company will have a strong presence across major eye health segments and geographies, with leadership in attractive emerging markets.
2. Forward-looking Statements
Forward-looking Statements
Certain statements made in this presentation may constitute forward-looking statements, including, but not limited to, statements
regarding preliminary results and guidance with respect to expected revenues, non-GAAP cash earnings per share, adjusted cash flows
from operations, organic product sales growth, integration-related activities and benefits, synergies, launches and approvals of
products, assumptions with respect to 2013 guidance, and the 2013 strategic initiatives of Valeant Pharmaceuticals International, Inc.
(the “Company”). Forward-looking statements may be identified by the use of the words “anticipates,” “expects,” “intends,” “plans,”
“could,” “should,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” or “continue” and variations or similar expressions.
These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties
that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties
include, but are not limited to, risks and uncertainties discussed in the company's most recent annual or quarterly report filed with the
Securities and Exchange Commission ("SEC") and other risks and uncertainties detailed from time to time in the Company's filings with
the SEC and the Canadian Securities Administrators ("CSA"), which factors are incorporated herein by reference. Readers are cautioned
not to place undue reliance on any of these forward-looking statements. The Company undertakes no obligation to update any of these
forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect actual outcomes.
Non-GAAP Information
To supplement the financial measures prepared in accordance with generally accepted accounting principles (GAAP), the Company uses
non-GAAP financial measures that exclude certain items. Management uses non-GAAP financial measures internally for strategic
decision making, forecasting future results and evaluating current performance. By disclosing non-GAAP financial measures,
management intends to provide investors with a meaningful, consistent comparison of the Company’s core operating results and trends
for the periods presented. Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the information is not
necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the
corresponding measures calculated in accordance with GAAP. The Company has provided preliminary results and guidance with
respect to cash earnings per share, adjusted cash flows from operations and organic product growth rates, which are non-GAAP
financial measures. The Company has not provided a reconciliation of these preliminary and forward-looking non-GAAP financial
measures due to the difficulty in forecasting and quantifying the exact amount of the items excluded from the non-GAAP financial
measures that will be included in the comparable GAAP financial measures. Reconciliations of historical non-GAAP financials can be
found at www.valeant.com.
Note 1: The guidance in this presentation is only effective as of the date given,
January 4, 2013, and will not be updated or affirmed unless and until the Company
publicly announces updated or affirmed guidance.
1
3. Agenda
2012 Review – J. Michael Pearson
2013 Guidance – Howard Schiller
New Segment Reporting
Other Updates – J. Michael Pearson
New 2013 Strategic Objectives
Organizational Structure
2
4. 2012 Achievements
Operations:
Revenue growth vs. 2011 of >$1B1 and >40%1
Overcame ~$200 M decline related to genericization of Cesamet, Cardizem CD, Ultram
ER, Wellbutrin XL
Cash EPS growth vs. 2011 of >50%1
Organic growth of ~8% on a same store basis, ~10% Pro Forma
Business Development:
Completed over 25 acquisitions
Probiotica, Pedinol, OraPharma, Medicis, Gerot Lannach
Majority between 2-3 X sales
Established new growth platforms
Oral Health, Podiatry, Aesthetics , Russia, South East Asia/South Africa
Medicis Acquisition Closed in Mid-December
Strengthened Senior Management Team
Marcelo Noll Barboza – President, Valeant Brazil Laizer Kornwasser – Company Group
Jacques Dessureault - President, Valeant Canada Chairman
Jason Hanson – Company Group Chairman Pavel Mirovsky – President, Valeant Europe
Andrew Howden – CEO iNova Steve Sembler – SVP, President
Vince Ippolito – SVP, GM Aesthetics OraPharma
1Excludes impact of one time items
Justin Smith – SVP, GM U.S. Rx Derm
3
5. 2012 Achievements (continued)
R&D Productivity and Product Launches:
Filed multiple New Drug Applications
Efinaconazole - Onychomycosis (Valeant)
Luliconazole - Tinea Pedis (Medicis)
Xerese (in Canada) – Herpes Labialis (Valeant)
Launched more than 300 branded generic products in Emerging Markets
Launched multiple patented/OTC products
Regederm in Brazil
Zyclara Pump (Medicis) and Potiga in U.S.
Sublinox and Lodalis in Canada
>25 OTC line extensions in U.S. and Canada (CeraVe, Bedoyecta)
Achieved several regulatory approvals
Dysport (Medicis) in Canada
Restylane-L (Medicis) in U.S.
Balance Sheet Management:
Repurchased 5.3 million common shares at average cost of ~$53 per share
Raised $4.55 billion in high yield notes and loans
4
7. Previous Q4 Guidance Unchanged
Fourth Quarter 2012 Guidance
Revenue expected to be >$900 million
Cash EPS expected to be between $1.18 - $1.23
Adjusted cash flows from operations expected to be between $330 - $430
million
Medicis impact expected to be immaterial
See Note 1 regarding guidance 6
8. Medicis Integration Update
Leadership team in place for nearly one month
Nearly all personnel decisions have been made and communicated
Sales incentive programs in place to ensure Q1 success
Sales force product training scheduled for late January
Approximately 350 sales professionals (Dermatology, Aesthetics, Podiatry) in the
field
Upsides from Medicis R&D Pipeline
2 scheduled product launches
Zyclara Pump launched Q3 2012
Dysport Canada to be launched Q1 2013
2 late stage products
Luliconazole filed Q4 2012
MetroGel 1.3% Hydrogel - Bacterial Vaginosis (to be filed 1H 2013)
Life cycle management opportunities
Synergies
We now expect synergies to exceed $275M on a run rate basis by end of 2013
Significant amount of synergies will not occur until back half of 2013 (ie. R&D
and Legal)
Restructuring costs expected to be less than full year run rate synergies with the
majority incurred in Q4 2012
7
9. Agenda
2012 Review – J. Michael Pearson
2013 Guidance – Howard Schiller
New Segment Reporting
Other Updates – J. Michael Pearson
New 2013 Strategic Objectives
Organizational Structure
8
10. Financial Guidance for 2013*
2013 % over 2012
Revenue $4.4 - $4.8 billion ~35%
Cash EPS $5.45 - $5.75 ~35%
Cash EPS Including
Royalty to Meda $5.35 - $5.65 ~33%
Adjusted Cash Flow from
Operations $1.5 - $1.75 billion ~40%
* Excludes potential acquisitions other than Natur Produkt which is expected to close January 2013
See Note 1 regarding guidance 9
11. 2013 Guidance Assumptions
Exchange rates are based on current spot rates
Impact from generics to be >$100M in revenues vs. 2012
Retin-A Micro, BenzaClin, and Cesamet
No generic assumption included for Zovirax
~$40-$50M in revenue declines as a result of planned divestitures
Solodyn revenues of ~$250M - $275M
Includes Natur Produkt
No other acquisitions included in guidance
Efinaconazole launch to be breakeven in 2013
Cash EPS expected to be 45%/55% 1H vs. 2H
Q2 expected to be lowest quarter
Q4 expected to be highest quarter
Cash tax rate expected <5%
Leverage reduced to <4x Pro Forma EBITDA by the end of Q3
10
12. New Segment Reporting
Beginning in 2013, there will be 2 Operating/Reporting
Segments
Developed Markets
Emerging Markets
Revenue and Organic Growth (same store and pro forma) to be
reported on a more detailed level:
Developed Markets
U.S. Promoted
U.S. Neuro & Other
Canada / Australia
Emerging Markets
Latin America
Central/Eastern Europe
South East Asia / South Africa
11
13. Agenda
2012 Review – J. Michael Pearson
2013 Guidance – Howard Schiller
New Segment Reporting
Other Updates – J. Michael Pearson
New 2013 Strategic Objectives
Organizational Structure
12
14. New 2013 Strategic Initiatives
1) Optimize the balance sheet by reducing leverage to less than
4x and driving improvements in working capital
2) Successfully integrate Medicis and achieve run rate synergies
of greater than $275M by year-end
3) Build out key therapeutic areas (Podiatry, Ophthalmology, Oral
Health) and geographic platforms (SEA, SA, LA, Russia)
through tuck-in acquisitions
4) Receive approval for efinaconazole and luliconazole and
launch both in the U.S.
5) Improve gross margins from 2012 to progress towards our
goal of 80%
6) Maintain global government reimbursement levels of less than
20%
13
15. New Executive Organization
Mike Pearson
Chairman &
CEO*
Howard Schiller Ryan Weldon Jason Hanson Laizer Robert Chai-Onn Brian Stolz Susan Hall
EVP, Chief EVP, Company EVP, Company Kornwasser EVP, General EVP, Chief SVP, Global
Financial Officer Group Chairman Group Chairman EVP, Company Counsel Human Capital R&D
Group Chairman Officer
• Finance • U.S. • Latin America • U.S. Neuro & • Corporate • HR • R&D
• Europe Dermatology • Oral Health Other Secretary • Integration • Medical
• South East • U.S. • Consumer • Canada • Legal Affairs
Asia Aesthetics • Ophthal- • U.S. Managed • Regulatory
• South Africa • Podiatry mology Care &
• R&D Distribution
* Chief Medical Officer and Chief Compliance Officer report directly to CEO 14