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>Eli Lilly has entered another active phase of portfolio expansion, and its acquisition of Engage Bio adds a targeted genetic-medicine angle to that strategy.</li><li>The deal, valued at up to $202 million in cash including upfront and milestone payments, gives Lilly access to Engage’s Tethosome platform, a non-viral DNA delivery system designed to improve potency, tolerability, and redosability.</li><li>This comes as Lilly is already delivering strong commercial momentum, with Q1 2026 revenue up 56% year-over-year, guidance raised to $82 billion–$85 billion, and major growth still being driven by Mounjaro, Zepbound, and the newly approved oral GLP-1 Foundayo.</li></ul>

Eli Lilly has entered another active phase of portfolio expansion, and its acquisition of Engage Bio adds a targeted genetic-medicine angle to that strategy.The deal, valued at up to $202 million in cash including upfront and milestone payments, gives Lilly access to Engage’s Tethosome platform, a non-viral DNA delivery system designed to improve potency, tolerability, and redosability.This comes as Lilly is already delivering strong commercial momentum, with Q1 2026 revenue up 56% year-over-year, guidance raised to $82 billion–$85 billion, and major growth still being driven by Mounjaro, Zepbound, and the newly approved oral GLP-1 Foundayo.

Eli Lilly’s Engage Bio Acquisition Could Unlock A Genetic Medicine Goldmine!

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Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>Eli Lilly is exceptionally well-positioned for sustained growth, driven by its dominant GLP-1 franchise, including the blockbuster drugs Mounjaro (for diabetes) and Zepbound (for obesity). These products are tapping into a massive and underserved market, fueling extraordinary revenue and earnings growth that significantly outpaces industry peers.</li>
 <li>The company possesses a deep and productive R&amp;D pipeline across several high-value therapeutic areas, including immunology, oncology, and neuroscience, with promising late-stage assets like donanemab for Alzheimer's and orforglipron, an oral GLP-1. This robust pipeline is expected to mitigate future patent expirations and diversify revenue streams beyond the current reliance on metabolic health.</li>
 <li>Despite its strong market position and growth trajectory, the company faces significant risks. These include immense pressure to scale manufacturing to meet soaring demand for its GLP-1 drugs, increasing competition and pricing pressures in the diabetes and obesity markets, and a high valuation that reflects lofty growth expectations, leaving little room for execution missteps or clinical trial setbacks.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Eli Lilly is exceptionally well-positioned for sustained growth, driven by its dominant GLP-1 franchise, including the blockbuster drugs Mounjaro (for diabetes) and Zepbound (for obesity). These products are tapping into a massive and underserved market, fueling extraordinary revenue and earnings growth that significantly outpaces industry peers.
  The company possesses a deep and productive R&amp;D pipeline across several high-value therapeutic areas, including immunology, oncology, and neuroscience, with promising late-stage assets like donanemab for Alzheimer's and orforglipron, an oral GLP-1. This robust pipeline is expected to mitigate future patent expirations and diversify revenue streams beyond the current reliance on metabolic health.
  Despite its strong market position and growth trajectory, the company faces significant risks. These include immense pressure to scale manufacturing to meet soaring demand for its GLP-1 drugs, increasing competition and pricing pressures in the diabetes and obesity markets, and a high valuation that reflects lofty growth expectations, leaving little room for execution missteps or clinical trial setbacks.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

<ul><li>Eli Lilly's investment profile reflects a premium valuation after the stock’s recent record fueled by the company’s leading position in the fast-growing GLP-1 market.</li><li>However, this elevated positioning leaves limited room for error, and any slippage in Foundayo's early commercial ramp, intensifying price competition, or pipeline disappointment could trigger a downside potential in the company’s stock price.</li><li>Recent performance highlights strong underlying fundamentals, with continued share gains across Brazil, the U.K., South Korea, and China reinforcing the durability of its international growth trajectory alongside a robust domestic base.</li></ul>

Eli Lilly's investment profile reflects a premium valuation after the stock’s recent record fueled by the company’s leading position in the fast-growing GLP-1 market.However, this elevated positioning leaves limited room for error, and any slippage in Foundayo's early commercial ramp, intensifying price competition, or pipeline disappointment could trigger a downside potential in the company’s stock price.Recent performance highlights strong underlying fundamentals, with continued share gains across Brazil, the U.K., South Korea, and China reinforcing the durability of its international growth trajectory alongside a robust domestic base.

Investment Thesis - Valuation Summary: Eli Lilly and Company - July 22, 2026

<ul>
 <li>Eli Lilly is exceptionally well-positioned for sustained, high-level growth, driven by the blockbuster success of its GLP-1 receptor agonists, Mounjaro and Zepbound, for diabetes and obesity.</li>
 <li>The company's R&amp;D pipeline remains robust, with strategic acquisitions like AtaiBeckley for its psychedelic drug BPL-003 signaling a commitment to diversifying into new high-potential therapeutic areas such as neuroscience.</li>
 <li>Valuation is a key consideration, as the company trades at a significant premium to its peers, reflecting high expectations for future growth and creating a high bar for execution and pipeline success.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Eli Lilly is exceptionally well-positioned for sustained, high-level growth, driven by the blockbuster success of its GLP-1 receptor agonists, Mounjaro and Zepbound, for diabetes and obesity.
  The company's R&amp;D pipeline remains robust, with strategic acquisitions like AtaiBeckley for its psychedelic drug BPL-003 signaling a commitment to diversifying into new high-potential therapeutic areas such as neuroscience.
  Valuation is a key consideration, as the company trades at a significant premium to its peers, reflecting high expectations for future growth and creating a high bar for execution and pipeline success.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Eli Lilly & Co (LLY US) - Aug 2026

<ul><li>Eli Lilly has spent the past several years turning Zepbound and Mounjaro into the centerpieces of a rapidly expanding weight-loss and diabetes franchise.</li><li>Now, that momentum is being challenged in federal court.</li><li>Novo Nordisk alleges that Lilly’s advertising misleads consumers by presenting its medicines as outperforming Wegovy and Ozempic, while Lilly maintains that its campaigns accurately reflect direct scientific evidence.</li></ul>

Eli Lilly has spent the past several years turning Zepbound and Mounjaro into the centerpieces of a rapidly expanding weight-loss and diabetes franchise.Now, that momentum is being challenged in federal court.Novo Nordisk alleges that Lilly’s advertising misleads consumers by presenting its medicines as outperforming Wegovy and Ozempic, while Lilly maintains that its campaigns accurately reflect direct scientific evidence.

Eli Lilly Vs. Novo: The Obesity Drug War Turns Ugly!

United States

Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products for humans and animals.  The Company's products are sold in countries around the world.  Eli Lilly's products include neuroscience products, endocrine products, anti-infectives, cardiovascular agents, oncology products, and animal health products.

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Eli Lilly & Co (LLY US)

Eli Lilly’s Engage Bio Acquisition Could Unlock A Genetic Medicine Goldmine!

Eli Lilly has entered another active phase of portfolio expansion, and its acquisition of Engage Bio adds a targeted genetic-medicine angle to...

Baptista Research

Primer: Eli Lilly & (LLY UN) - Aug 2026

Eli Lilly is exceptionally well-positioned for sustained growth, driven by its dominant GLP-1 franchise, including the blockbuster drugs...

αSK Primers

Investment Thesis - Valuation Summary: Eli Lilly and Company - July 22, 2026

Eli Lilly's investment profile reflects a premium valuation after the stock’s recent record fueled by the company’s leading position in the fast...

VRS (Valuation & Research Specialists)

Primer: Eli Lilly & Co (LLY US) - Aug 2026

Eli Lilly is exceptionally well-positioned for sustained, high-level growth, driven by the blockbuster success of its GLP-1 receptor agonists,...

αSK Primers

Eli Lilly Vs. Novo: The Obesity Drug War Turns Ugly!

Eli Lilly has spent the past several years turning Zepbound and Mounjaro into the centerpieces of a rapidly expanding weight-loss and diabetes...

Baptista Research

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