Glaxo Posts Solid 2Q, Buoyed by Strong Vaccine Sales that Look Poised for Continued Growth
Glaxo reported second-quarter results that were slightly ahead of both our and consensus expectations, driven by robust vaccine sales, but we don't plan to change our fair value estimate based on the minor outperformance. We continue to view the stock as modestly undervalued, with potential long-term growth not fully factored into the share price. Strong growth in the vaccine unit, steady gains in consumer products, and the ability to mitigate generic Advair competition in the quarter helps rein...GlaxoSmithKline is a global healthcare company. Co.'s segments include: Pharmaceuticals; Vaccines; and Consumer Healthcare. The Pharmaceuticals segment is focused on developing new medicines in respiratory, HIV, oncology and immuno-inflammation, with discovery research exploring these and other areas. The Vaccines segment has a portfolio and pipeline of vaccines to help protect people throughout life. Co. delivers vaccines to people living in over 160 countries. The Consumer Healthcare segment develops and markets consumer-preferred brands in oral health, pain relief, respiratory, nutrition/gastro-intestinal and skin health.
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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