Dr. Reddy's Operations Continue to Face Intense U.S. Competition
Dr. Reddy's fiscal fourth-quarter performance was hindered by a 1% decline in total revenue, mostly due to continued pricing erosion in its North American generics business. We do not anticipate a major change to our fair value estimate, and we retain our no-moat rating. Although the company's 53.5% gross profit margin realized a 230-basis-point improvement relative to the year-ago period, it declined by 280 basis points sequentially, due to competitive erosion in the U.S. and temporary internat...
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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