Morningstar - GlaxoSmithKline plc (GSK) U.S. Elections Add Uncertainty to Healthcare Stocks, but Unlikely to Cause Major Fair Value Changes

Report

Morningstar

Damien Conover

EUR 147.86 For Business Accounts Only

U.S. Elections Add Uncertainty to Healthcare Stocks, but Unlikely to Cause Major Fair Value Changes

The presidential election of Donald Trump combined with the Republicans retainingÂ majorities in Congress leads to greater uncertainty for healthcare stocks. While Trump and the Republicans have been clear on the desire to repeal the Affordable Care Act (ACA), there is less clarity on their healthcare policies, except for the focus on reducing regulations. We suspect asÂ plans takeÂ shape to repeal the ACA, the likely outcome will be more of a modification than a complete repeal as several groups h...

09/11/2016 13 EN

Underlying

GlaxoSmithKline plc

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.

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GB0009252882 London Stock Exchange United Kingdom

Provider

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.

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Analysts

Damien Conover

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U.S. Elections Add Uncertainty to Healthcare Stocks, but Unlikely to Cause Major Fair Value Changes

MFN Drug Pricing - Impact and Implementation (Thematic, 5pgs)

US Tariffs - Broad Tariffs are Highly Unlikely (7pgs)

US Tariffs - Transfer Pricing Could Negate Impact (6pgs)

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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