Generic Competition Weighs on Astra’s Q1 as One-Time Gains Buoy Results
AstraZeneca reported first-quarter results ahead of our expectations, but we don’t expect any major changes to our fair value estimate as the outperformance was based largely on one-time gains. We continue to view AstraZeneca as modestly undervalued. While the company holds a solid pipeline, the patent exposure of the company remains relatively high through 2017. We believe the company is managing its patent losses well by launching new drugs with strong pricing power, and while 2017 earnings wi...AstraZeneca is a holding company. Through its subsidiaries, Co. operates as a biopharmaceutical company engaged in discovering, developing, manufacturing and commercializing its pipeline of small molecule and biologic prescription medicines, including targeted business development through collaboration, in-licensing and acquisitions. Co. is focused on three main therapy areas: Oncology, Cardiovascular and Metabolic Diseases, and Respiratory. Co. is also selectively active in autoimmunity, infection and neuroscience. In addition, Co. works across small molecules, oligonucleotides and other drug platforms, as well as biologic medicines.
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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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