瑞信美股医疗技术与分配管理团队的问题20170908CREDITSUISSEHealthcareTe

1、DISCLOSUREAPPENDIXATTHEBACKOFTHISREPORTCONTAINSIMPORTANTDISCLOSURES,ANALYSTCERTIFICATIONS,LEGALENTITYDISCLOSUREANDTHESTATUSOFNON-USANALYSTS.USDisclosure:CreditSuissedoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethattheFirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.8September2017Americas/UnitedStatesEquityResearchHealthcareTechnology&Dist。

2、ributionHealthcareTechnology&DistributionSECTORREVIEWResearchAnalystsErinWilsonWright2125384080erin.wilson@credit-suisse.comNicholasFeinman212538-6408nick.feinman@credit-suisse.comHongTran2125388143hong.tran@credit-suisse.comQuestionsformanagementteamsWithfallconferenceseasonrampingand2Q17earningsbehindus,wehavecompiledalistofrelevantquestionsandtopicsofdiscussionforrespectivemanagementteamsacrossourcoverageuniverseofHealthcareTechnology&Distributioncompanies,includingPBMs/Pharmacies,Distributor。

3、s,ContractServicesOrganizations,AnimalHealth,Dental,Deathcare,HCIT,amongothers.Pleasereachouttoourteamforexcel-basedcopiesofourlatestmodelsorotherrequestsinpreparationforyourmeetings.Figure1:HCT&DCoverageUniverseDentalCROs/ClinicalLaboratoriesDentsplySironaXRAYQuintilesIMSQAlignTechnologyALGNICONPLCICLRHenryScheinHSICPRAHealthSciencesPRAHPattersonCompaniesPDCOMedpaceMEDPPAREXELPRXLPBMs/PharmaciesCharlesRiverLaboratoriesCRLCVSHealthCVSLabCorpofAmericaLHWalgreensBootsAllianceWBAQuestDiagnosticsDGX。

4、ExpressScriptsESRXPharMericaPMCAnimalHealthDiplomatPharmacyDPLOZoetisZTSIDEXXLaboratoriesIDXXDistributorsPhibroAnimalHealthPAHCAmerisourceBergenABCVCAWOOFCardinalHealthCAHAbaxisABAXMcKessonMCKPetmedExpressPETSOwens&MinorOMIAratanaTherapeuticsPETXInformationTechnology&ServicesLifeScience/OtherHMSHoldingsHMSYDanaherDHRPremierPINCFulgentGeneticsFLGTCotivitiCOTVLantheusHoldingsLNTHDeathcareServiceCorpINTLSCIHealthcareServicesGroupHCSGSource:CreditSuisse8September2017HealthcareTechnology&Distribution。

5、2TableofcontentsFigure2:CreditSuisseHealthcareTechnology&DistributionCoverageUniverse4AnimalHealth5Abaxis(ABAX).........................................................................................................5AratanaTherapeutics(PETX)..................................................................................6IDEXXLaboratories(IDXX)......................................................................................7PhibroAnimalHealth(PAHC).........................................。

6、.........................................9PetmedExpress(PETS)........................................................................................10Zoetis(ZTS)...........................................................................................................11CROs14CharlesRiverLaboratories(CRL)..........................................................................14ICONPLC(ICLR)...................................................................................................15Medp。

7、ace(MEDP)...................................................................................................16PAREXEL(PRXL)..................................................................................................19PRAHealthSciences(PRAH)...............................................................................20QuintilesIMS(Q)....................................................................................................22LifeScienceTools&Diagnostics/Other24Danaher(DHR)........。

8、..............................................................................................24FulgentGenetics(FLGT).......................................................................................27Lantheus(LNTH)....................................................................................................28Distributors29AmerisourceBergen(ABC)..................................................................................29CardinalHealth(CAH).......................................。

9、....................................................30McKesson(MCK)...................................................................................................31Owens&Minor(OMI)............................................................................................33PBMs&Pharmacies34CVSHealth(CVS)..................................................................................................34WalgreensBootsAlliance(WBA)................................................................。

10、...........36ExpressScripts(ESRX).........................................................................................37DiplomatPharmacy(DPLO)...................................................................................37Dental39DentsplySirona(XRAY).........................................................................................39AlignTechnology(ALGN)......................................................................................41HenrySchein(HSIC).........................。