Valeant's Results Continue to Show Some Stability, but Little Improvement for Post-2017 Outlook
Although Valeant Pharmaceuticals maintained its year-end EBITDA outlook despite adjusting for recent asset sales, we don’t anticipate a material change to our fair value estimate as we make a few adjustments to our model. Management’s previous efforts to extend major debt maturities into 2020 combined with debt reduction and working-capital improvements have helped stabilize the business, but we still think the firm’s high financial leverage remains a problem. Net debt/EBITA on a trailing 12-mon...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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