assignment 2.xlsx - Particulars 1994 1995 1996 World Drug...

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Particulars 1994 1995 1996 World Drug Market (in bn) 252 267.12 284.48 6.00% 6.50% Upjohn Market Share (in bn) 3.36 3.41 3.45 1.33% 1.35% 1.40% 49.41% Pharmacia Market Share (in bn) 3.44 3.49 3.54 1.37% 1.40% 1.43% 50.59% 1.42% Upjohn - Pharmacia Net Sales 6704360 7374796 7479149.3634 Other Revenues 118422 130264.2 489835.6166 Total Operating Revenues 6822782 7244531.8 7968984.98 3.99% 6.18% 10.00% Cost of Product Sold 1889854 1999490.7768 2191470.8695 27.70% 27.60% 27.50% R&D 1097268 1310898.02921 16.08% 16.00% 16.45% Marketing and Admin 2652119 2745677.5522 2948524.4426 38.87% 37.90% 37.00% Restructing Cost 19837 17780 17927.574 0.29% 0.87% 0.83% Total Operating Cost 5659078 4762948.329 6468820.91531 Operating Income 1163704 2481583.471 1500164.06469 Interest Income 157254 152135.1678 167348.68458 2.30% 2.10% 2.10% Interest Expense 112117 110116.88336 121128.571696 1.64% 1.52% 1.52% Foreign Exchange (net) 22121 24307 26718.2544
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9.882% 9.92% Other (net) 40314 1557 1557 PBT 1271276 2497737.75544 1518108.92317 Provision Tax 437825 861719.525627 523747.578495 34.44% 34.50% 34.50% Dividends on Preferred Stock (net of Tax) 12291 12372 12372 PAT 821160 1623646 981989.344679 Free Cash Flow Calculation EBITDA 2481583.471 1500164.06469 Tax 861719.525627 523747.578495 Capex 3176267 3176267 Free Cash Flow -1556403.0546 976416.486195 Synergies Product Portfolio will Increase (in mn) 500 Reduction in Operating Cost (in mn) 500 Market Presence will reflect in sales(in mn) 20 22 -15 -16 Cost reduction in geographical reach(mn) 100 120 Faciliy utilization will increase the sales Financial position will improved (in mn) 150 160 755 786 PV at 0 724.106998159 722.993066268 Total 3086.2309678 3.0862309678 Billion $ FCF calculation D 5242825 (From ballence sheet) E 5894446 D/E 0.8894516974 Rf(U.S t-bill) 5.38% (US fedral reserve) Rm 6.20% (S&P 500 index) Beta 0.95 Re 6.16% Financial decline due to collaboration of the people
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Cost of debt 2.1385% WACC 4.266% 1 2 Free Cash Flow -1492718.3362 898145.482581 Total value 9101593.4481 9.1015934481 billion $ Total value plus synergy 12.187824416 billion $
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1997 1998 1999 2000 2001 2002 2003 304.11 326.31 350.46 377.09 406.13 437.81 472.40 6.90% 7.30% 7.40% 7.60% 7.70% 7.80% 7.90% 3.50 3.55 3.61 3.66 3.72 3.78 3.84 1.43% 1.47% 1.51% 1.54% 1.58% 1.61% 1.59% 3.59 3.64 3.70 3.75 3.81 3.87 3.93 1.47% 1.49% 1.51% 1.52% 1.53% 1.55% 1.52% 1.45% 1.48% 1.51% 1.53% 1.56% 1.58% 1.56% 7587597.029 7699893.47 7816161.857 7935749.1329 8059150.0319 8186484.602 8313784.438 1250007.314 2127522.56 3146320.724 4342231.3573 5765856 7504897.244 9574390.8668 8837604.343 9827416.03 10962482.58
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  • Spring '18
  • surjith reddy

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