Morningstar | Sigma Aims for Cost Efficiencies via Project Pivot
Sigma Pharmaceuticals is one of Australia's three pharmaceutical wholesalers. Historically, the company has impressed on several fronts, displaying a capacity to grow both organically and by acquisition. However, in 2005, Sigma merged with then rapidly growing generic pharmaceutical supplier Arrow Pharmaceuticals, which proved disappointing and led to a significant write-down in the value of related goodwill. Subsequently, in 2010, Sigma agreed to sell its manufacturing and generics business to Aspen Pharmacare, in order to reduce debt levels. Management initiatives have delivered significant efficiency gains at the operational level during the past three years. Nonetheless, ongoing reform of the government Pharmaceutical Benefits Scheme remains a major challenge to profitability.Sigma Healthcare is a pharmaceutical wholesale and distribution business in Australia, delivering to pharmacies Australia wide.Co.'s pharmacy-led network includes over 700 retail brand members representing the brands Amcal, Guardian, PharmaSave, Chemist King and Discount Drugstores. Co. also manages and promotes a range of Over the Counter private label products made available to brand member customers, as well as a generic range of private label products under the Pharmacy Care range. In addition, Co., through its subsidiary, Central Healthcare Services, has a presence in the hospital pharmaceutical distribution market.
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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