Novartis' 2Q Largely as Expected, With Strong New Product Sales Offsetting Generic Gleevec Pressure
Novartis posted second-quarter results largely in line with our and consensus expectations, and we don’t expect any major changes to our fair value estimate. We continue to view the stock as modestly undervalued. Despite the increasing generic pressure on the branded drug segment, a strong pipeline gives us confidence in Novartis' wide moat.In the quarter, new product launches helped offset generic competition, leading to flat operational sales growth, which we expect will continue through 2017...
Novartis is a multinational healthcare group based in Switzerland. Co. provides healthcare solutions that address the evolving needs of patients and societies worldwide. Co.'s broad portfolio includes innovative medicines, eye care products and cost-saving generic pharmaceuticals. Co.'s operations are organized along three operating divisions: Innovative Medicines Division; Sandoz Division; and Alcon Division. Co.'s operations are supported by the Novartis Institutes for BioMedical Research and Novartis Business Services.
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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