Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Merck’s $10 billion acquisition of Verona Pharma marks another pivotal move in its broader strategy to offset the looming revenue hit from Keytruda’s patent expiration in late 2028.</li><li>The company is navigating an era of transformation, with nearly 20 launches planned over the next few years, including key assets in cardiometabolic, immunology, HIV, and oncology.</li><li>While Keytruda generated $29.5 billion in 2024 revenue and remains Merck’s crown jewel, its approaching loss of exclusivity is expected to erode annual revenues by $18 billion, prompting Merck to aggressively expand and diversify its pipeline.</li></ul>

Merck’s $10 billion acquisition of Verona Pharma marks another pivotal move in its broader strategy to offset the looming revenue hit from Keytruda’s patent expiration in late 2028.The company is navigating an era of transformation, with nearly 20 launches planned over the next few years, including key assets in cardiometabolic, immunology, HIV, and oncology.While Keytruda generated $29.5 billion in 2024 revenue and remains Merck’s crown jewel, its approaching loss of exclusivity is expected to erode annual revenues by $18 billion, prompting Merck to aggressively expand and diversify its pipeline.

Merck’s $10 Billion Verona Buyout: Smart Bet or Scramble Before the Keytruda Cliff?

<ul><li>Merck & Co., Inc. reported its first-quarter 2025 financial results with a mix of strengths and challenges.</li><li>Overall, the company maintained solidity in several aspects of its business, driven by strong performances in oncology, animal health, and emerging products, but faced external pressures and certain regional challenges.</li><li>Revenue for Merck in Q1 2025 was reported at $15.5 billion, meeting the company’s expectations and showing robust contributions from newer drugs like WINREVAIR and CAPVAXIVE.</li></ul>

Merck & Co., Inc. reported its first-quarter 2025 financial results with a mix of strengths and challenges.Overall, the company maintained solidity in several aspects of its business, driven by strong performances in oncology, animal health, and emerging products, but faced external pressures and certain regional challenges.Revenue for Merck in Q1 2025 was reported at $15.5 billion, meeting the company’s expectations and showing robust contributions from newer drugs like WINREVAIR and CAPVAXIVE.

Merck & Co. Unleashes a Bold Oncology Offensive—Will KEYTRUDA’s Expansion Rewrite Cancer Care?

<ul><li>Merck & Co.'s fourth-quarter 2024 financial performance reflects a complex landscape of strength in some areas alongside challenges in others.</li><li>The company's overall revenue increased by 7% to $15.6 billion, or 9% when accounting for foreign exchange impacts, partly driven by robust performance in its oncology and Animal Health segments.</li><li>This growth trajectory, supporting strong demand for innovative products like KEYTRUDA, contrasts with notable headwinds faced with GARDASIL, particularly in the Chinese market.</li></ul>

Merck & Co.'s fourth-quarter 2024 financial performance reflects a complex landscape of strength in some areas alongside challenges in others.The company's overall revenue increased by 7% to $15.6 billion, or 9% when accounting for foreign exchange impacts, partly driven by robust performance in its oncology and Animal Health segments.This growth trajectory, supporting strong demand for innovative products like KEYTRUDA, contrasts with notable headwinds faced with GARDASIL, particularly in the Chinese market.

Merck’s $25 Billion Lifeline Is About to Expire — Here’s the Bold Plan to Replace It!

<ul><li>Merck & Co. has demonstrated robust operational performance and strategic advances in its third quarter earnings, navigating through both burgeoning opportunities and prevailing challenges.</li><li>The company's financials exhibited a 4% revenue growth, or 7% on a constant currency basis, driven by enhanced global uptake of KEYTRUDA in oncology, favorable launches of products like WINREVAIR and CAPVAXIVE, and a strong performance in the Animal Health sector.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Merck & Co. has demonstrated robust operational performance and strategic advances in its third quarter earnings, navigating through both burgeoning opportunities and prevailing challenges.The company's financials exhibited a 4% revenue growth, or 7% on a constant currency basis, driven by enhanced global uptake of KEYTRUDA in oncology, favorable launches of products like WINREVAIR and CAPVAXIVE, and a strong performance in the Animal Health sector.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Merck & Co. Inc.: Expanding Oncology Portfolio through KEYTRUDA Developments & Partnership Collaborations To Shape the Future! - Major Drivers

Podcast by Dom Cooke to explore big businesses, Business Breakdowns

Business Breakdowns

Podcast by Dom Cooke to explore big businesses

Learn how companies work from the people who know them best. We do deep research and interview industry veterans, investment professionals, and corporate executives to explain the inner workings of public stocks and private businesses. For each company, we break down their history, business model, financial statements, secret sauce, and bull/bear case. We believe every business has lessons to teach us and Breakdowns is here to highlight them. Learn more and stay up to date at www.joincolossus.com.

<ul><li>Business Breakdowns explores Merck, a leading pharmaceutical company known for innovation in oncology and future drug pipeline, navigating challenges in the industry.</li><li>Merck's success is driven by Keytruda, a leading cancer drug generating over $25 billion in revenue, with future growth dependent on navigating patent cliffs and developing new therapies.</li><li>Merck's history includes innovative science and bold decisions leading to breakthroughs in vaccines and diabetes treatment, showcasing its commitment to research and development.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Business Breakdowns explores Merck, a leading pharmaceutical company known for innovation in oncology and future drug pipeline, navigating challenges in the industry.Merck's success is driven by Keytruda, a leading cancer drug generating over $25 billion in revenue, with future growth dependent on navigating patent cliffs and developing new therapies.Merck's history includes innovative science and bold decisions leading to breakthroughs in vaccines and diabetes treatment, showcasing its commitment to research and development.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Merck & Co: Blockbuster Drugs - [Business Breakdowns, EP.189]

United States

Merck & Co., Inc.  is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures. The Company has operations in pharmaceutical, animal health, and consumer care.

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Merck & Co (MRK US)

Merck’s $10 Billion Verona Buyout: Smart Bet or Scramble Before the Keytruda Cliff?

Merck’s $10 billion acquisition of Verona Pharma marks another pivotal move in its broader strategy to offset the looming revenue hit from...

Baptista Research

Merck & Co. Unleashes a Bold Oncology Offensive—Will KEYTRUDA’s Expansion Rewrite Cancer Care?

Merck & Co., Inc. reported its first-quarter 2025 financial results with a mix of strengths and challenges. Overall, the company maintained...

Baptista Research

Merck’s $25 Billion Lifeline Is About to Expire — Here’s the Bold Plan to Replace It!

Merck & Co.'s fourth-quarter 2024 financial performance reflects a complex landscape of strength in some areas alongside challenges in...

Baptista Research

Merck & Co. Inc.: Expanding Oncology Portfolio through KEYTRUDA Developments & Partnership Collaborations To Shape the Future! - Major Drivers

Merck & Co. has demonstrated robust operational performance and strategic advances in its third quarter earnings, navigating through both...

Baptista Research

Merck & Co: Blockbuster Drugs - [Business Breakdowns, EP.189]

Business Breakdowns explores Merck, a leading pharmaceutical company known for innovation in oncology and future drug pipeline, navigating...

Business Breakdowns

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