Novartis Posts Solid 1Q Driven by Innovative Drugs, but Increasing Generic Competition Is Looming
Novartis reported first-quarter results slightly higher than our expectations, but we don't expect any significant changes to our fair value estimate based on the minor outperformance. We continue to view the stock as slightly undervalued, with strong sales growth from recently launched drugs and expected new drug approvals offsetting generic competition over the next several years. This favorable balance in outlook helps support our wide moat rating for the firm. Further, with the recent divest...
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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