Report
Damien Conover
EUR 98.48 For Business Accounts Only

Merck Posts Minor Gains in 1Q, Likely Representing Near-Term Growth Potential

Merck reported first-quarter results in line with our expectations and slightly ahead of consensus expectations, and we don’t expect any changes to our fair value estimate based on the performance. We continue to view Merck as slightly undervalued, with a strong immuno-oncology pipeline portfolio offsetting several major patent losses. The strong pipeline combined with a diverse product portfolio continue to reinforce our wide moat rating.

In the quarter, new product launches and strong vaccin...
Underlying
Merck & Co. Inc.

Merck & Co. is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies and animal health products. The company's segments are: Pharmaceutical, which includes human health pharmaceutical products that consist of therapeutic and preventive agents for the treatment of human disorders, and human health vaccine products that consist of preventive pediatric, adolescent and adult vaccines; and Animal Health, which discovers, develops, manufactures and markets veterinary pharmaceuticals, vaccines and health management solutions and services, as well as a suite of digitally connected identification, traceability and monitoring products.

Provider
Morningstar
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.

Analysts
Damien Conover

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