Report
Karen Andersen
EUR 100.00 For Business Accounts Only

Roche's Daniel O'Day Cements Gilead's Oncology Commitment, but M&A Track Record Minimal

We're not making any changes to our $86 per share fair value estimate for Gilead or CHF 333/$42 fair value estimates for Roche following the announcement that the CEO of Roche's pharmaceutical division, Daniel O'Day, will leave Roche at the end of 2018 and become chairman and CEO at Gilead effective March 1, 2019. O'Day will be replaced by Bill Anderson, who is currently CEO of Roche's Genentech. Anderson has been at Roche since 2006 and has a background in engineering as well as experience lead...
Underlying
Roche Holding Ltd

Roche Holding is a healthcare company. Co. operates in two Divisions, Pharmaceuticals and Diagnostics. Co.'s pharmaceuticals division is comprised of two business segments Roche Pharmaceuticals and Chugai. Co.'s pharmaceuticals division provides therapies including Cotellic, in combination with Zelboraf for advanced melanoma, and Alecensa for a specific type of lung cancer. Co.'s diagnostics division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics. Co.'s diagnostics division provides in vitro diagnostic tests, used by healthcare providers to screen, diagnose and monitor therapies.

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
Karen Andersen

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