Maintaining Amgen FVE; Enbrel Pricing and Biosimilar Headwinds in 2017 Countered by Strong Pipeline
Amgen’s third quarter was another example of strong cost-cutting in the face of headwinds to older franchises, with 11% non-GAAP EPS growth but only 2% top-line growth, and we’re maintaining our $194 per share fair value estimate. Overall, we remain bullish on key catalysts for the firm, particularly the upcoming cardiovascular outcomes data for cholesterol-lowering drug Repatha expected in the first quarter of 2017. With growth from Enbrel pricing power poised to flatten in 2017 and Neulasta bi...Amgen is a biotechnology company that discovers, develops, manufactures and delivers human therapeutics. The company's products include: Enbrel? (etanercept), which is used in indications for the treatment of adult patients with moderately to severely active rheumatoid arthritis, patients with chronic moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy and patients with active psoriatic arthritis; and Prolia? (denosumab), which is used for the treatment of postmenopausal women with osteoporosis at high risk of fracture or multiple risk factors for fracture, or patients who have failed or are intolerant to other available osteoporosis therapy.
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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