Morningstar | API's Proposal to Merge with Sigma Could Deliver Synergies
Narrow-moat API is the most vertically integrated of Australia's three national full-line pharmaceutical wholesalers. Incremental conversion of the corporate-owned Priceline stores and additional growth of the Priceline Pharmacy franchise network are revitalising API's earning's profile. Growth of API’s Priceline Pharmacy franchise business in the competitive health and beauty category is encouraging, given the improved earnings profile over the past two years, which suggests that scale benefits from the now 475-strong combined network (Priceline and Priceline Pharmacy) are beginning to emerge. Nonetheless, ongoing PBS reform and increasing competition continue to hamper revenue growth.Australian Pharmaceutical Industry is a service provider to the pharmacy industry. Co. operates two segments, Australia and New Zealand. The Australia segment is engaged in the distribution of pharmaceutical, medical, health, beauty and lifestyle products to pharmacies, the purchase and sale of various health, beauty and lifestyle products within the retail industry and provider of retail services to pharmacies. The New Zealand segment is engaged as a manufacturer and owner of rights of pharmaceutical medicines and consumer toiletries.
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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