The company has a lot of imbedded problems and the board has added acquisitions that do not add up to any single strategy. An acquirer would greatly discount a deal because of the steep "fix it" costs; lack of buyers for certain pieces; and the lack of leadership in the company. The more likely strategy is for the board to bring in a proven ceo who can fix a "multi-business unit" company. This is a "company-of-companies" each with serious operational issues. Few ceo's have the breadth of experience in the pharma, generics, lab, diagnostics and medical devices. Fix it first; Then either sell the pieces or sell non-strategic pieces and rebuild the base. Over the long-term, a proven ceo in doing this can create value. There a few, if any, such proven executives who know most of the businesses.