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Michael Waterhouse

Michael Waterhouse is a healthcare strategist for Morningstar.

More From Michael Waterhouse

Clinical trial requirements and the lack of interchangeability mean that Botox remains a wide-moat franchise.
Michael Waterhouse

The drugmaker must still contend with extensive competition in the generic drug industry and high financial leverage.
Michael Waterhouse

We're increasing our fair value estimate on the former and decreasing our fair value on the latter, due to Mylan's approval of it generic version of Teva's Copaxone.
Michael Waterhouse

Kare Schultz's familiarity in branded drug markets lead the firm to take on more product development risk longer-term, with purchases of earlier-stage products and more dramatic asset sales.
Michael Waterhouse

Removing Opana from the market adds another headwind to this high-risk firm's competitive pressure in its branded and generics segments, high financial leverage concerns, and ongoing mesh litigation.
Michael Waterhouse

We're increasing our fair value estimate on the narrow-moat company to reflect higher margin assumptions.
Michael Waterhouse

Increasing competition in the U.S. generics business and past poor capital-allocation decisions diminish our confidence in future economic profits.
Michael Waterhouse

The market is too harshly penalizing the company for the large challenges it faces in both its generics and branded segments over the coming years.
Michael Waterhouse

The company is a likely takeover target, thanks to its focus on more complex generic drug products.
Michael Waterhouse

The FDA's warning letter issued on a key generic Copaxone 40mg manufacturing facility owned by Pfizer does not affect our long-term view of this no-moat drugmaker.
Michael Waterhouse

Although we think the narrow-moat drugmaker looks undervalued, the company continues to face significant challenges as it transitions to a new CEO and from the potential upcoming competition on Copaxone.
Michael Waterhouse

Pricing pressure in the generic drug market and anticipated generic competition on the one of the narrow-moat company's main drugs in 2017 makes the abrupt leadership change a concerning development at a critical time for the company.
Michael Waterhouse

The stock looks undervalued as accounting issues temporarily detract from an attractive business.
Michael Waterhouse

More About Michael Waterhouse

Michael Waterhouse is a healthcare strategist for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. He covers specialty pharmaceutical and life science and diagnostic companies.

Before joining Morningstar in 2010, Waterhouse was a research biologist for the Centers for Disease Control and Prevention. He was also a volunteer in the Peace Corps.

Waterhouse holds a bachelor’s degree in biology from the University of Georgia. He also holds a master’s degree in business administration from the University of Minnesota, where he participated in the Carlson Funds Enterprise, a student managed investment fund.

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