And the new U.S. drug policy looks manageable.
We do not expect major changes to our fair value estimate.
COVID-19 treatments drove strong results; no major changes to Pfizer stock fair value estimate.
Stock slightly overvalued, little change expected to $167 fair value price estimate.
The defensive nature and the relative safety of healthcare stocks are supporting the sector's outperformance.
We believe the favorable pricing driving the strong performance in the quarter will fade later in the year.
Robust COVID-19 product sales should buoy the next several quarters.
Likely concerns on Humira biosimilars weigh on stock.
This data and strong Q1 results support our fair value estimate increase and strengthen the firm's wide moat.
Despite headwinds from inflation, the war in Ukraine, and supply chain issues, our fair value estimate for the wide-moat drugmaker remains unchanged.
Threat of U.S. policy changes fading.
The market isn't accounting for pressures on top drug Humira.
The drugmaker offers investors robust growth and an attractive dividend, notes Morningstar's analyst.
Long-term growth concerns for the drugmaker cap our fair value estimate.
We view the wide-moat company as slightly overvalued.
We predict a significant decline in sales in 2023.
Although the company fell a little below our expectations in the fourth quarter, our fair value estimate remains.
Increased contracts for COVID-related products are just part of the reason for the upgrades.
Large biopharma names are undervalued while device and diagnostic industries look pricey.
Our analyst views this as just one of several more likely purchases for the wide-moat drug maker.
Morningstar's analyst says there's much more to Pfizer's products than COVID-19 vaccines and treatments.
Merck’s updated analysis for its coronavirus treatment, molnupiravir, could aid Pfizer’s COVID-19 treatment, Paxlovid.
The surprise breakup will allow both new companies to operate with more focus and agility. We don't see this impacting our fair value estimate.
Our top two picks in this wide-moat industry are poised to benefit.
We don’t expect any major change to our fair value estimate or the fair values for firms with competing COVID treatments, including Merck.
We have raised our fair value estimate based on the company's strong performance.
We don't expect major changes to the firm's fair value estimate.
The wide-moat company reported a strong third quarter, but we don't expect any significant changes to our fair value estimate.
The company's overall operations are trending back toward normalization.
While the brand power of J&J has likely taken a minor hit from legal issues, this decision doesn’t affect our fair value estimate or moat rating.
Drug and biotech industries pricing in the risk of policy changes in the U.S., but we don't think there will be a big regulatory impact.
We do not expect this to significantly affect our fair value estimate or moat rating for the firm.
As we incorporate ESG factors into our analysis, we see a manageable headwind.
The warnings put pressure on key drugs for AbbVie, Pfizer, and Eli Lilly, but we don’t see any major fair value estimate impacts.
The new CEO is likely focused on continuing the industry-leading innovative strategy.
We don’t expect any changes to our fair value estimates or moat ratings for the mRNA manufacturers.
The firm's wide moat is supported by a strong portfolio and late-stage pipeline.
We believe AbbVie’s increased marketing spending on the products are helping to propel growth.
We continue to view the stock as undervalued with the market not appreciating Merck’s strong immuno-oncology position and developing pipeline, key areas that reinforce our wide moat rating.
We expect to slightly raise Pfizer’s fair value estimate based on the strong growth, but we view the stock as largely fairly valued.
The company continues to innovate across segments, adding support to its wide moat.
We also expect a return to more elective procedures.
We expect sales will fall substantially after 2022, limiting the impact on our valuation.
We continue to view AbbVie as fairly valued with a good appreciation of new drugs partially offsetting the likely U.S. generic pressure to Humira.
We continue to view the stock as undervalued.
We don’t expect the COVID-19 vaccine sales to affect our fair value estimate.
We expect the pause to be temporary because of the rarity of the adverse events—six cases among the more than 6.8 million doses administered in the U.S.
These areas remain undervalued even though valuations for the overall healthcare sector look a bit high.
We don't expect any major changes to U.S. healthcare policy.
We intend to modestly raise our fair value estimate based on this near-term strength as its COVID-19 vaccine was the highlight of the quarter.