Large debt hampers Valeant's outlook despite stabilizing operations and new product launches.
Valeant reported encouraging first-quarter results with organic growth up 2% when excluding the large effect of divested assets on the reported 5% decline in sales. Management slightly raised its year-end revenue and adjusted EBITDA guidance. Management’s new EBITDA outlook of between $3.15 billion and $3.3 billion exceeds our forecast, and we’ll likely modestly raise our fair value estimate as the company’s performance has surpassed our initial expectations. While stabilizing underlying growth,...Valeant Pharmaceuticals International is a pharmaceutical and medical device company that develops, manufactures, and markets a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices). Co. has two operating and reportable segments: Developed Markets, which focuses in dermatology, neurology, gastrointestinal disorders, and eye health therapeutic; and Emerging Markets, which focuses primarily on branded generics, OTC products, and medical devices.
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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