Report
Damien Conover
EUR 100.00 For Business Accounts Only

Steady 1Q for Pfizer With Core Products Posting Strong Growth, Offsetting Drag From Mature Drugs

Pfizer reported first-quarter results largely in line with our expectations, and we don't expect any changes to our fair value estimate. We continue to view Pfizer as undervalued, with the investment community not likely appreciating Pfizer's strong pipeline. The well-positioned pipeline along with a solid portfolio of currently marketed drugs reinforces our wide moat rating.
In the quarter, total sales increased 5% with strong growth from the majority of recently launched drugs offsetting large...
Underlying
Pfizer Inc.

Pfizer is a research-based biopharmaceutical company. The company is engaged in discovering, developing, manufacturing and distributing of healthcare products, including medicines and vaccines. The company manages its commercial operations through three businesses: Pfizer Biopharmaceuticals Group, which includes Oncology, Inflammation and Immunology, Rare Disease, Hospital, Vaccines and Internal Medicine business units, as well as a hospital business unit; Upjohn, which includes the company's solid oral dose brands such as Lyrica, Lipitor, Norvasc, Celebrex, Viagra, and certain generic medicines; and Consumer Healthcare, which is an over-the-counter medicines business.

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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