Mayne Update Highlights Continuing Competitive Pressure in U.S. Generic Market
We are maintaining our AUD 1.70 per share fair value estimate for no-moat Mayne Pharma after the company issued guidance ahead of its full-year results later this month. Underlying fiscal 2017 EBITDA is expected to be between AUD 212 and AUD 216 million, with net profit after tax, or NPAT, of between AUD 92 million and AUD 95 million. This compares with our EBITDA and NPAT forecasts of AUD 232 million and AUD 97 million, respectively, using an effective tax rate of 31% versus revised guidance of...Mayne Pharma is a pharmaceutical company focused on applying its drug delivery capabilities to commercialize branded and generic pharmaceuticals. Co. operates in four business units: Generic Products, which develops, manufactures, markets and distributes generic pharmaceutical products in the U.S.; Specialty Brands, which markets and distributes specialty branded pharmaceutical products in the U.S.; Metrics Contract Services, which provides contract pharmaceuticals development services and analytical services to third parties; and Mayne Pharma International, which develops, manufactures, markets and distributes branded and generic pharmaceutical products globally, excluding the U.S.
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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