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>Gilead Sciences delivered a good result with an all-around beat as its total product sales continued to grow sequentially.</li><li>The majority of the growth was driven by sales coming from oncology and HIV.</li><li>Gilead Sciences continues to strengthen its early-stage portfolio, thus adding a BTLA agonist for the inflammation of MicroBio, also an option for the bispecific antibody for MacroGenics for oncology.</li></ul>

Gilead Sciences delivered a good result with an all-around beat as its total product sales continued to grow sequentially.The majority of the growth was driven by sales coming from oncology and HIV.Gilead Sciences continues to strengthen its early-stage portfolio, thus adding a BTLA agonist for the inflammation of MicroBio, also an option for the bispecific antibody for MacroGenics for oncology.

Gilead Sciences: Acquisition of MiroBio & Other Drivers

Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

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<li>
<a href="https://www.smartkarma.com/entities/genuine-biotech-limited" target="_blank" data-smartkarma-citation="entities:36220:1" rel="noopener">Genuine Biotech (GBL HK)</a> has filed for HK listing. Its Azvudine received NMPA approval for the treatment of COVID-19 in July 2022 to become the first China-made oral COVID-19 drug.</li>
<li>Azvudine was conditionally approved by the NMPA for the treatment of HIV infection in July 2021. However, the drug is yet to be commercialized.</li>
<li>Genuine Biotech plans to use the IPO proceeds for the commercialization of Azvudine. The company’s current cash balance can maintain its financial viability for approximately 20 months.</li>
</ul>



Genuine Biotech (GBL HK) has filed for HK listing. Its Azvudine received NMPA approval for the treatment of COVID-19 in July 2022 to become the first China-made oral COVID-19 drug.
Azvudine was conditionally approved by the NMPA for the treatment of HIV infection in July 2021. However, the drug is yet to be commercialized.
Genuine Biotech plans to use the IPO proceeds for the commercialization of Azvudine. The company’s current cash balance can maintain its financial viability for approximately 20 months.


Genuine Biotech (GBL HK): COVID Pill No Longer Attractive Opportunity; Thin Pipeline Mars Conviction

<ul><li>Gilead had a very robust second quarter with total product sales of $5.7 billion, up 7% year over year, excluding Veklury.</li><li>The company managed to deliver an all-around beat powered by HIV, cell therapy, and Trodelvy, partially offset by HCV.</li><li>Sequentially, total product sales excluding Veklury increased by 14%, driven by seasonal pricing and inventory dynamics, especially in their HIV business, and increased demand across the whole portfolio.</li></ul>

Gilead had a very robust second quarter with total product sales of $5.7 billion, up 7% year over year, excluding Veklury.The company managed to deliver an all-around beat powered by HIV, cell therapy, and Trodelvy, partially offset by HCV.Sequentially, total product sales excluding Veklury increased by 14%, driven by seasonal pricing and inventory dynamics, especially in their HIV business, and increased demand across the whole portfolio.

Gilead Sciences: The MiroBio Acquisition & Other Drivers

<ul><li>Gilead started 2022 on a positive note with the HIV business, Trodelvy, Veklury, and cell therapy driving growth.</li><li>Primarily driven by Biktarvy, the HIV business grew at 2% year over year.</li><li>The growing oncology portfolio of the company performed quite well with a doubling of Trodelvy revenue, and cell therapy has delivered another robust quarter of growth.</li></ul>

Gilead started 2022 on a positive note with the HIV business, Trodelvy, Veklury, and cell therapy driving growth.Primarily driven by Biktarvy, the HIV business grew at 2% year over year.The growing oncology portfolio of the company performed quite well with a doubling of Trodelvy revenue, and cell therapy has delivered another robust quarter of growth.

Gilead Sciences Inc.: Expansion of Cell Therapy

Credit

<ul><li>Despite a strong 2021 on account of Veklury and its HIV drug sales, Gilead is expected to face its fair share of challenges in 2022.</li><li>The impact of Covid-19 on HIV and HCV was more than offset by increased Veklury sales in 2021.</li><li>Baptista Research looks to evaluate the different credit strengths and credit risks of the company as well as a line-by-line analysis of the financial statements of the company for the past four years.</li></ul>

Despite a strong 2021 on account of Veklury and its HIV drug sales, Gilead is expected to face its fair share of challenges in 2022.The impact of Covid-19 on HIV and HCV was more than offset by increased Veklury sales in 2021.Baptista Research looks to evaluate the different credit strengths and credit risks of the company as well as a line-by-line analysis of the financial statements of the company for the past four years.

Gilead Sciences: Detailed Credit Analysis & Financial Strength Evaluation Report

United States

Gilead Sciences, Inc. is a research-based biopharmaceutical company that discovers, develops, and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases.  The Company's primary areas of focus include HIV/AIDS, liver disease and serious cardiovascular and respiratory conditions.

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Gilead Sciences (GILD US)

Gilead Sciences: Acquisition of MiroBio & Other Drivers

Gilead Sciences delivered a good result with an all-around beat as its total product sales continued to grow sequentially. The majority of the...

Baptista Research

Genuine Biotech (GBL HK): COVID Pill No Longer Attractive Opportunity; Thin Pipeline Mars Conviction

Genuine Biotech has filed for Hong Kong listing to raise funds to commercialize its newly approved drug. The company’s Azvudine is the first China...

Tina Banerjee

Gilead Sciences: The MiroBio Acquisition & Other Drivers

Gilead had a very robust second quarter with total product sales of $5.7 billion, up 7% year over year, excluding Veklury. The company managed to...

Baptista Research

Gilead Sciences Inc.: Expansion of Cell Therapy

Gilead started 2022 on a positive note with the HIV business, Trodelvy, Veklury, and cell therapy driving growth. Primarily driven by Biktarvy,...

Baptista Research

Gilead Sciences: Detailed Credit Analysis & Financial Strength Evaluation Report

Despite a strong 2021 on account of Veklury and its HIV drug sales, Gilead is expected to face its fair share of challenges in 2022. The impact of...

Baptista Research

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