Sigma enjoys winning market share despite a challenging operating environment.
We reaffirm our AUD 0.95 per share fair value estimate for narrow-moat Sigma Healthcare following recent decisions by two manufacturers, AstraZeneca and Amgen, to directly supply a combined total of 12 higher-priced Pharmaceutical Benefits Scheme, or PBS, medicines to community pharmacies, thereby bypassing traditional pharmacy wholesaler distributors. This follows an earlier move in 2010 when Pfizer went direct with Lipitor, representing a total of three rogue manufacturers out of 400 that dist...
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.
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