Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Ironwood Pharmaceuticals, Inc / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/ironwood-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:15743:1" rel="noopener">Ironwood Pharmaceuticals, Inc (IRWD US)'s</a> sole marketed drug Linzess is the #1 prescribed branded treatment in the U.S. for adults with IBS-C/CIC with ~4M unique patients since launch.</li>
<li>First commercialized in December 2012, Linzess achieved blockbuster drug status in 2021. The earliest licensed entry of any generic Linzess in the U.S. is expected only in March 2029.</li>
<li>The company’s potential drug candidate IW-3300 is in phase 1 trial for interstitial cystitis/bladder pain syndrome (IC/BPS). Recently, Ironwood has shared positive findings from the study.  </li>
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Ironwood Pharmaceuticals, Inc (IRWD US)'s sole marketed drug Linzess is the #1 prescribed branded treatment in the U.S. for adults with IBS-C/CIC with ~4M unique patients since launch.
First commercialized in December 2012, Linzess achieved blockbuster drug status in 2021. The earliest licensed entry of any generic Linzess in the U.S. is expected only in March 2029.
The company’s potential drug candidate IW-3300 is in phase 1 trial for interstitial cystitis/bladder pain syndrome (IC/BPS). Recently, Ironwood has shared positive findings from the study.  


Ironwood Pharmaceuticals (IRWD US): Brand Leadership of Linzess Continues; Pipeline Advances

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 Capital Markets

<ul><li>AbbVie had a positive start to 2022 with total net revenue and adjusted earnings exceeding the expectations of the management.</li><li>The company is seeing positive momentum over various important portfolios and products, which include strong operational revenue growth from Aesthetics, Neuroscience, Rinvoq, and Skyrizi.</li><li>In RA, the subscription trends have stabilized lately and the management is making progress in repositioning the brand.</li></ul>

AbbVie had a positive start to 2022 with total net revenue and adjusted earnings exceeding the expectations of the management.The company is seeing positive momentum over various important portfolios and products, which include strong operational revenue growth from Aesthetics, Neuroscience, Rinvoq, and Skyrizi.In RA, the subscription trends have stabilized lately and the management is making progress in repositioning the brand.

AbbVie Inc.: Acquisition-Led Growth Strategy & Other Drivers

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<a href="https://www.smartkarma.com/entities/sumitomo-dainippon-pharma-co" target="_blank" data-smartkarma-citation="entities:1935:1" rel="noopener">Sumitomo Dainippon Pharma Co (4506 JP)</a>'s flagship drug Latuda will loss patent protection in the U.S. in 2023. Latuda is already seeing revenue erosion.  </li>
<li>Sumitomo is expected to reap the benefit of new products launched in the U.S. market in 2020 and 2021. These are expected to gradually become next growth drivers.  </li>
<li>The company has a rich pipeline and targets to launch at least two new drugs in the U.S. in next two years.  </li>
</ul>



Sumitomo Dainippon Pharma Co (4506 JP)'s flagship drug Latuda will loss patent protection in the U.S. in 2023. Latuda is already seeing revenue erosion.  
Sumitomo is expected to reap the benefit of new products launched in the U.S. market in 2020 and 2021. These are expected to gradually become next growth drivers.  
The company has a rich pipeline and targets to launch at least two new drugs in the U.S. in next two years.  


Sumitomo Dainippon Pharma Co (4506 JP): New Launches Ensure Post-Latuda Growth Trajectory

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<a href="https://www.smartkarma.com/entities/abbvie-inc" target="_blank" data-smartkarma-citation="entities:1135:1" rel="noopener">Abbvie Inc (ABBV US)</a> reported mixed results in Q1 2022. While revenue of $13.538 billion missed consensus by $70 million, adjusted EPS of 3.16 beat consensus of $3.14.  </li>
<li>Q1 revenue from immunology portfolio was $6.141 billion, up 6.9% y/y. Management is still confident of delivering $15 billion combined revenue from Rinvoq and Skyrizi by 2025.</li>
<li>The company has reduced 2022 adjusted EPS guidance to $13.92–14.12 from $14.00–14.20, to reflect an unfavorable impact related to acquired IPR&amp;D and milestones expenses incurred during Q1.</li>
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Abbvie Inc (ABBV US) reported mixed results in Q1 2022. While revenue of $13.538 billion missed consensus by $70 million, adjusted EPS of 3.16 beat consensus of $3.14.  
Q1 revenue from immunology portfolio was $6.141 billion, up 6.9% y/y. Management is still confident of delivering $15 billion combined revenue from Rinvoq and Skyrizi by 2025.
The company has reduced 2022 adjusted EPS guidance to $13.92–14.12 from $14.00–14.20, to reflect an unfavorable impact related to acquired IPR&amp;D and milestones expenses incurred during Q1.


AbbVie (ABBV US): Mixed Q1 Show; 2022 Guidance Trimmed; Stock Price Reaction Seems Overdone

<ul><li>AbbVie had a decent financial result with a balanced performance demonstrated across every major growth franchise, including a double-digit equivalent operation growth in revenue from neuroscience, aesthetics, and immunology.</li><li>The increased promotional investments of AbbVie are driving forward the accelerated category growth, particularly in toxins and fillers.</li><li>Moreover, in immunology, AbbVie has received approval for Skyrizi in psoriatic arthritis.</li></ul>

AbbVie had a decent financial result with a balanced performance demonstrated across every major growth franchise, including a double-digit equivalent operation growth in revenue from neuroscience, aesthetics, and immunology.The increased promotional investments of AbbVie are driving forward the accelerated category growth, particularly in toxins and fillers.Moreover, in immunology, AbbVie has received approval for Skyrizi in psoriatic arthritis.

United States

AbbVie Inc. researches and develops pharmaceutical products. The Company produces pharmaceutical drugs for specialty therapeutic areas such as immunology, chronic kidney disease, hepatitis C, women's health, oncology, and neuroscience. AbbVie also offers treatments for diseases including multiple sclerosis, parkinson's, and alzheimer's disease.

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AbbVie (ABBV UN)

Ironwood Pharmaceuticals (IRWD US): Brand Leadership of Linzess Continues; Pipeline Advances

Ironwood’s flagship drug Linzess achieved blockbuster status in 2021 and is still growing by low single digit. Two pipeline GI drug candidates...

Tina Banerjee

AbbVie Inc.: Acquisition-Led Growth Strategy & Other Drivers

AbbVie had a positive start to 2022 with total net revenue and adjusted earnings exceeding the expectations of the management. The company is...

Baptista Research

Sumitomo Dainippon Pharma Co (4506 JP): New Launches Ensure Post-Latuda Growth Trajectory

Sumitomo is on right track to alleviate patent cliff through new launches in the U.S. The company’s three new U.S. products have potential for...

Tina Banerjee

AbbVie (ABBV US): Mixed Q1 Show; 2022 Guidance Trimmed; Stock Price Reaction Seems Overdone

AbbVie’s 2022 EPS guidance reduction is positive for the long-run. Continued strong show by non-Humira immunology portfolio enhances conviction of...

Tina Banerjee

AbbVie Inc.: Financial & Price Forecasts

AbbVie had a decent financial result with a balanced performance demonstrated across every major growth franchise, including a double-digit...

Baptista Research

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