Strong Quarter Axiron Sales Ahead of New Generic Competition, Maintaining FVE for Acrux
We maintain our AUD 0.40 per share fair value estimate for no-moat Acrux following the release of better-than-expected fourth-quarter 2017 global Axiron net sales of USD 36.8 million by licensee partner, Eli Lilly. This brings total net sales for Axiron to USD 143 million for fiscal 2017, broadly in line with the previous corresponding period. This is well above our more pessimistic forecasts of USD 75 million, which had assumed the entry of generic competition after the United States District C...Acrux is a pharmaceutical company engaged in the development and commercialization of specialty and generic transdermal and topical pharmaceuticals for global markets. Co.'s topical or transdermal pharmaceutical product portfolio can be segregated into two streams - generic pharmaceutical products and specialty pharmaceutical products.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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