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.
The overall strong innovation seen with the vaccine and pipeline reinforces our conviction in the firm’s wide moat.
The wide-moat firm's vaccine showed a solid 79% efficacy level in preventing symptomatic COVID-19, which was better than we had expected.
This adds support for U.S. herd immunity by summer.
We don't expect to make major changes to our fair value estimate, but we do think the company looks moderately undervalued.
The company announced CFO Robert Davis will succeed Frazier on July 1. We view the transition in leadership as natural.
We plan to slightly raise our fair value estimate.
The wide-moat company posted a solid fourth quarter. We continue to view the stock as undervalued.
We plan to moderately increase our fair value estimate based on the improving outlook.
We expect quickly declining sales potential after that, however.
And some undervalued stocks that capture our attention.
We don't expect major policy reforms now that the dust has settled on the elections.
The wide-moat firm continues to show significant innovation. We plan to increase our fair value estimate.
The FDA provided emergency use authorization, or EUA, for Pfizer and partner BioNTech’s COVID-19 vaccine BNT162b2 on Dec. 11. However, we are not changing our fair value for either Pfizer or BioNTech as the EUA was largely expected.
We don't foresee any impact on pharma companies' moats or valuations.
Astra’s vaccine looks potentially easier to transport with only mild temperature requirements as compared with the other vaccines.
After reporting strong final data, we expect emergency authorization of Pfizer and BioNTech's vaccine by early December.
With the vaccine’s efficacy over 90% and no major safety issues observed, we believe Pfizer and BioNTech's vaccine is set up for emergency use in late 2020, followed by full approval in 2021 pending supportive final data.
Although the outcome of the U.S. election is still uncertain, we do not expect the results to affect our valuations or moat ratings in the biopharma industry.
We continue to see the company as undervalued and maintain our narrow moat rating.
The wide-moat drug manufacturer plans to release key data on COVID-19 vaccine shortly.
We continue to view Merck as undervalued, with the market not fully appreciating the firm’s strong immuno-oncology platform.
The wide-moat drug manufacture plans to acquire Asklepios BioPharmaceuticals.
The wide-moat company reported above our expectations, and we expect to slightly increase our fair value estimate.
And four companies we like right now.
We expect a coronavirus vaccine to be released within the next six months.
Despite the hold on vaccine development, we are not changing our fair value estimate or moat rating for the company.
This acquisition reinforces the intangible assets supporting J&J's wide moat, and we plan to raise our fair value estimate for Momenta.
We don’t expect any major changes to our AbbVie fair value estimate for the narrow-moat company.
Moats and returns on invested capital look stable for companies with a solid list of pipeline drugs.
We don’t expect any significant fair value estimate changes for this wide-moat company based on the minor outperformance.
We don’t expect these actions by President Trump to significantly affect our fair value estimates or moat ratings due to limited details, challenging implementation, and only minor impacts.
The company's drug group helps offset COVID-19 pressure on device sales.
And what we expect to see moving forward.
Changes to U.S. healthcare policy no longer a major fear.
While the costs will deplete capital, we don’t expect the settlement to create a major drag on the firm’s wide moat.
The wide-moat drugmaker's growth prospects are improving.
Strong cash flows support drug development and a dividend that yields above 4%.
Our valuation and moat rating aren't affected by this company's decision.
Necessity means dividends are very secure for drugmakers.
We continue to view the wide-moat company as fairly valued, with the market appropriately appreciating the heavy patent losses over the next five years.
We continue to view this wide-moat stock as undervalued and maintain our fair value estimate.
The wide-moat firm faces market headwinds, but we anticipate its outlook will reverse in 2021.