thoughts on worn camshaft gear ????
 

My friend's 190 2.3 engine died yesterday. Today I went to check it out and removed the valve cover. The timing chain gear that is attached to the camshaft is totally worn.

As a result, the timing chain is in incorrect time; when we try to start the engine, the crankshaft turns and the chain moves but "jumps" on the worn camshaft gear. Apparently, the intermediate gear can be seen from above and looks OK.

My thoughts are, Can I Just replace the worn camshaft gear and set the correct time ??? or should I check for some other damage like other worn parts that may have been the result of the failure of this gear ??? Or is the engine completely dead??? Have any of you experienced this problem before ????