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>Amgen Inc.'s first quarter performance in fiscal year 2025 reflects a positive momentum characterized by robust sales growth and an expanded product portfolio.</li><li>The company reported a notable revenue increase of 9% year over-year, driven primarily by a substantial 14% volume growth across its portfolio.</li><li>Several products—including those in the categories of general medicine, rare disease, inflammation, and oncology—achieved double-digit sales growth, suggesting successful market penetration and increasing patient adoption.</li></ul>

Amgen Inc.'s first quarter performance in fiscal year 2025 reflects a positive momentum characterized by robust sales growth and an expanded product portfolio.The company reported a notable revenue increase of 9% year over-year, driven primarily by a substantial 14% volume growth across its portfolio.Several products—including those in the categories of general medicine, rare disease, inflammation, and oncology—achieved double-digit sales growth, suggesting successful market penetration and increasing patient adoption.

Amgen Inc.: What Is Its Commercial Strategy For UPLIZNA In New Indications?

<ul><li>Amgen is rapidly positioning itself as a formidable player in the obesity drug market, a sector that has witnessed explosive growth due to the popularity of GLP-1 based therapies from Eli Lilly and Novo Nordisk.</li><li>The company’s investigational drug MariTide is generating significant interest following promising Phase II results showing up to 20% weight loss with monthly dosing.</li><li>With two Phase III trials now underway—targeting both diabetic and non-diabetic patients—Amgen is accelerating its strategy to gain a slice of what analysts forecast to be a $100 billion market by 2030.</li></ul>

Amgen is rapidly positioning itself as a formidable player in the obesity drug market, a sector that has witnessed explosive growth due to the popularity of GLP-1 based therapies from Eli Lilly and Novo Nordisk.The company’s investigational drug MariTide is generating significant interest following promising Phase II results showing up to 20% weight loss with monthly dosing.With two Phase III trials now underway—targeting both diabetic and non-diabetic patients—Amgen is accelerating its strategy to gain a slice of what analysts forecast to be a $100 billion market by 2030.

Amgen’s Big Bet on Obesity: Is This the Pharma Giant’s Next Breakout Moment?

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Immvira Bioscience / Equity Capital Markets

<ul>
<li>ImmVira, a China-based clinical-stage biotech, is looking to raise at least USD 100 million via a Hong Kong listing. The joint book runners are CITI and CICC.</li>
<li>In this insight, we look at the company’s core product, MVR-T3011, including its mechanism and clinical data.</li>
<li>We also look at the company’s pre-IPO investors and management team.</li>
</ul>


ImmVira, a China-based clinical-stage biotech, is looking to raise at least USD 100 million via a Hong Kong listing. The joint book runners are CITI and CICC.
In this insight, we look at the company’s core product, MVR-T3011, including its mechanism and clinical data.
We also look at the company’s pre-IPO investors and management team.


ImmVira (亦诺微) Pre-IPO: Niche Product, but the Indication Is Limited

<ul><li>Amgen Inc. highlighted substantial achievements and growth potential for 2024 while outlining some challenges and strategies moving forward.</li><li>The company's financial results reflected its success across various therapeutic areas, despite facing pricing pressures and patent expirations.</li><li>Revenue for the full year of 2024 reached $33.4 billion, reflecting a significant 19% increase year-over-year, driven mainly by a 23% volume increase across products.</li></ul>

Amgen Inc. highlighted substantial achievements and growth potential for 2024 while outlining some challenges and strategies moving forward.The company's financial results reflected its success across various therapeutic areas, despite facing pricing pressures and patent expirations.Revenue for the full year of 2024 reached $33.4 billion, reflecting a significant 19% increase year-over-year, driven mainly by a 23% volume increase across products.

Amgen: How Its $3.5 Billion Acquisition & Its High-Stakes Drug Pipeline Are Reshaping Its Growth Strategy

<ul><li>Amgen's third quarter 2024 financial results underscore the biopharmaceutical company's robust position in the market, with notable performance in both its core markets and pipeline advancements.</li><li>Generating $8.5 billion in revenue, marking a 23% increase compared to the prior-year period, the company witnessed strong sales across its portfolio, particularly from 10 of its products which showed double-digit growth.</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>

Amgen's third quarter 2024 financial results underscore the biopharmaceutical company's robust position in the market, with notable performance in both its core markets and pipeline advancements.Generating $8.5 billion in revenue, marking a 23% increase compared to the prior-year period, the company witnessed strong sales across its portfolio, particularly from 10 of its products which showed double-digit growth.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.

Amgen Inc.: What Is The Recent Pipeline Development & Expected Product Launches? - Major Drivers

United States

Amgen Inc. is an independent biotechnology medicines company that discovers, develops, manufactures and markets medicines for grievous illnesses. The Company focuses solely on human therapeutics and concentrates on innovating novel medicines based on advances in cellular and molecular biology.

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Amgen Inc (AMGN US)

Amgen Inc.: What Is Its Commercial Strategy For UPLIZNA In New Indications?

Amgen Inc.'s first quarter performance in fiscal year 2025 reflects a positive momentum characterized by robust sales growth and an expanded...

Baptista Research

Amgen’s Big Bet on Obesity: Is This the Pharma Giant’s Next Breakout Moment?

Amgen is rapidly positioning itself as a formidable player in the obesity drug market, a sector that has witnessed explosive growth due to the...

Baptista Research

ImmVira (亦诺微) Pre-IPO: Niche Product, but the Indication Is Limited

China-based biotech ImmVira seeks to raise $100 million through a Hong Kong listing with CITI and CICC as joint book runners. We look at its core...

Ke Yan, CFA, FRM

Amgen: How Its $3.5 Billion Acquisition & Its High-Stakes Drug Pipeline Are Reshaping Its Growth Strategy

Amgen Inc. highlighted substantial achievements and growth potential for 2024 while outlining some challenges and strategies moving forward. The...

Baptista Research

Amgen Inc.: What Is The Recent Pipeline Development & Expected Product Launches? - Major Drivers

Amgen's third quarter 2024 financial results underscore the biopharmaceutical company's robust position in the market, with notable performance in...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Amgen Inc.: What Is Its Commercial Strategy For UPLIZNA In New Indications?

Amgen Inc.'s first quarter performance in fiscal year 2025 reflects a positive momentum characterized by robust sales growth and an expanded...

Baptista Research

Amgen’s Big Bet on Obesity: Is This the Pharma Giant’s Next Breakout Moment?

Amgen is rapidly positioning itself as a formidable player in the obesity drug market, a sector that has witnessed explosive growth due to the...

Baptista Research

ImmVira (亦诺微) Pre-IPO: Niche Product, but the Indication Is Limited

​China-based biotech ImmVira seeks to raise $100 million through a Hong Kong listing with CITI and CICC as joint book runners. We look at its core...

Ke Yan, CFA, FRM

Amgen: How Its $3.5 Billion Acquisition & Its High-Stakes Drug Pipeline Are Reshaping Its Growth Strategy

Amgen Inc. highlighted substantial achievements and growth potential for 2024 while outlining some challenges and strategies moving forward. The...

Baptista Research

Amgen Inc.: What Is The Recent Pipeline Development & Expected Product Launches? - Major Drivers

Amgen's third quarter 2024 financial results underscore the biopharmaceutical company's robust position in the market, with notable performance in...

Baptista Research

China-based biotech ImmVira seeks to raise $100 million through a Hong Kong listing with CITI and CICC as joint book runners. We look at its core...