We think the market underappreciates some large pharma and biotech names.
We continue to believe that the NASH opportunity is not fully baked into shares.
A broad array of oncology and autoimmune programs gives the company a larger margin of error.
We think the deal is strategically and financially positive.
The current CEO of Roche's pharmaceutical division, Daniel O'Day, will leave Roche at the end of 2018 and for Gilead, cementing the firm's oncology commitment.
The narrow-moat firm has multiple data and launch catalysts through 2020 leading to our higher than consensus projections.
There's too much uncertainty to assume a significant hit to prices.
The wide-moat drugmaker's pipeline will allow it to grow in the face of biosimilar competition.
Wide-moat Gilead and no-moat Intercept have promising treatments for liver disease that could see more than $2 billion in peak sales.
We expect the pharma company to continue earning excess returns.
These manufacturing experts look undervalued today.
Alzheimer's therapy shows promising results.
The wide-moat drugmaker's cash pile can support acquisitions to bolster growth in the face of biosimilar and branded pressure.
The failure of their cancer immunotherapy combination is a bigger blow to Incyte than to Merck.
The rumored deal is somewhat of a surprise, but it could make strategic sense.
A growing portfolio of rare-disease drugs digs a moat for the company.
The narrow-moat biotech firm's financial health doesn't worry us as its approved therapies help drive growth.
We think many of its drugs are relatively more resistant to patent cliffs or sales pressure from generics.
We're raising our fair value estimate on the narrow-moat firm after the unveiling of a new cancer product.
Sotagliflozin's side effects and competitor data lead to a near $10 cut.
We think the wide-moat firm can counter biosimilar competition and maintain its strong position.
We don't think the current price accounts for the company's pipeline.
Though we’ve slightly reduced our fair value estimate, we see Roche’s wide economic moat as stable, given the firm’s dominance in branded cancer therapies and in vitro diagnostics globally.
The biotech giant trades at a wide discount to what we think it's worth.
We continue to see the company's broad portfolio and newer drugs as providing a wide economic moat and a buffer to biosimilar threats to the older Enbrel and Neulasta franchises.
Our bullish view on potential sales of the first drug of this development-stage biotech is balanced by the expected ramp-up in operating expenses in 2017.
Five-star-rated Amgen's wide moat is supported by a diverse portfolio that will shield it from biosimilar headwinds.
Despite CEO uncertainty, we remain confident in the firm's wide moat and competitive advantages in neurology.
Its MS market dominance and neurology pipeline support a wide moat.
We think the market is underestimating wide-moat Biogen’s potential to expand its neurology portfolio beyond multiple sclerosis.
Wide-moat drugmakers' Alzheimer's progress is underappreciated by a market focused on the short term, says Morningstar's Karen Andersen.
We hold revived enthusiasm for the firm's research engine.
Wide-moat Amgen and Roche look the most insulated, while narrow-moat AbbVie looks the most exposed to competition from the generics of the biotech industry.
We've lowered our fair value estimate, but the shares remain attractive.
The newly independent firm still has a narrow moat, however.
Firm has a promising strategy of combining expertise in both areas to generate a growing personalized medicine pipeline.
Although 2015 may be rocky, both Baxter and Baxalta should see significant margin expansion and growth in the long term, says Morningstar's Karen Andersen.
The firm’s recent pipeline productivity should help stabilize its wide economic moat, writes Morningstar’s Karen Anderson.
Gilead's John Martin has established leading market share and spectacular profitability for the innovative biotech firm.
With an improving pipeline and a new manufacturing technology, Amgen is on the path to stabilizing its moat trend.
Focus remains on hemophilia competition, but Baxter's comprehensive product portfolios are unmatched.
Cost and scale advantages, as well as greater product focus in the future, are positives for this wide-moat health-care name.
The diversified health-care firm remains remarkably profitable in tough industries.
2011 was a relatively light year for biotech M&A, but it looks like activity is picking up in 2012.
Three firms have strong exposure to one of today's thriving therapeutic areas.
M&A activity grew in 2010, and we expect deal volume to remain strong in 2011.
Health-care analyst Lauren Migliore looks at what makes a biotech firm a likely takeout candidate and reveals our top five biotech M&A picks for 2010.
Morningstar generic-pharmaceuticals analyst Brian Laegeler discusses the outlook for generic biologics in the U.S. given a strong branded-drug lobby and complex manufacturing processes.
Copycat versions of blockbuster biologics are coming--but big biotechs still look strong.
Morningstar pharmaceuticals analyst Karen Andersen says generic biologics are an underdog in the U.S. market.