Report
Vishnu Lekraj

Despite Amazon's Acquisition of PillPack, Market Underappreciates Drug Supply Chain Moats

On June 28, Amazon announced it will purchase mail-order pharmacy startup PillPack. This move will give Amazon a foothold within the pharmaceutical supply chain and was the most logical step for the online conglomerate to make as we believed retail pharmacy was going to be the easiest segment of the pharmaceutical supply chain for Amazon to enter. However, we also believe it will still be tough for the firm to create any major disruption within the healthcare space given the insurance dynamics t...
Underlying
Aetna Inc.

Aetna is a health care benefits company. The company conducts its operations in three business segments: Health Care, which provides medical, pharmacy benefit management services, dental, behavioral health and vision plans provided on both an insured basis and an employer-funded basis and businesses products and services that complement its medical products; Group Insurance, which primarily includes group life insurance and group disability products and long-term care products; and Large Case Pensions, which manages a variety of retirement products (including pension and annuity products) primarily for tax-qualified pension plans.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Vishnu Lekraj

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