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 is making headlines again, this time for reportedly circling Revolution Medicines in what could be one of the largest biotech acquisitions of 2026.</li><li>According to recent reports, Merck is in advanced discussions to acquire Revolution for somewhere between $28 billion and $32 billion, a potential move that underscores its push to diversify beyond its blockbuster immunotherapy Keytruda.</li><li>The acquisition chatter comes just months after Merck wrapped up its $10 billion Verona Pharma buyout and a $9.2 billion deal for antiviral player Cidara.</li></ul>

Merck is making headlines again, this time for reportedly circling Revolution Medicines in what could be one of the largest biotech acquisitions of 2026.According to recent reports, Merck is in advanced discussions to acquire Revolution for somewhere between $28 billion and $32 billion, a potential move that underscores its push to diversify beyond its blockbuster immunotherapy Keytruda.The acquisition chatter comes just months after Merck wrapped up its $10 billion Verona Pharma buyout and a $9.2 billion deal for antiviral player Cidara.

Merck Revolution Medicines Acquisition: How A RAS Cancer Deal Could Offset The Keytruda Cliff!

<ul><li>Merck & Co., Inc.'s third-quarter performance demonstrates its commitment to leveraging scientific advances to deliver value in the healthcare space.</li><li>The company's revenue for the quarter reached $17.3 billion, a growth of 4% despite foreign exchange headwinds.</li><li>This growth was primarily driven by the continued strength of its oncology segment, notably the drug KEYTRUDA, which saw an 8% increase in sales, contributing $8.1 billion.</li></ul>

Merck & Co., Inc.'s third-quarter performance demonstrates its commitment to leveraging scientific advances to deliver value in the healthcare space.The company's revenue for the quarter reached $17.3 billion, a growth of 4% despite foreign exchange headwinds.This growth was primarily driven by the continued strength of its oncology segment, notably the drug KEYTRUDA, which saw an 8% increase in sales, contributing $8.1 billion.

Merck Buys Cidara In $9.2 Billion Deal—Here’s What They’re Really After!

Merck & Co. Enters Retina Race with EyeBio Buy—Is This the Future of Vision Therapy?

Global Healthcare Analyst

Tina Banerjee

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<a href="https://www.smartkarma.com/entities/remegen-co-ltd" target="_blank" data-smartkarma-citation="entities:29191:1" rel="noopener">Remegen (9995 HK)</a> entered an exclusive outlicensing agreement with <a href="https://www.smartkarma.com/entities/abbvie-inc" target="_blank" data-smartkarma-citation="entities:1135:1" rel="noopener">Abbvie Inc (ABBV US)</a>  regarding RC148, a novel investigational PD-1/ VEGF bispecific antibody drug candidate for an upfront payment of $650M.</li>
<li>Remegen is eligible to receive up to $4.95B in development, regulatory, and commercial milestone payments, as well as tiered double-digit royalty payments on net sales outside the Greater China region.</li>
<li>RC148 is currently being developed in China by Remegen as a monotherapy and in combination for treating patients with various advanced malignant solid tumors, including certain lung cancers.</li>
</ul>



Remegen (9995 HK) entered an exclusive outlicensing agreement with Abbvie Inc (ABBV US)  regarding RC148, a novel investigational PD-1/ VEGF bispecific antibody drug candidate for an upfront payment of $650M.
Remegen is eligible to receive up to $4.95B in development, regulatory, and commercial milestone payments, as well as tiered double-digit royalty payments on net sales outside the Greater China region.
RC148 is currently being developed in China by Remegen as a monotherapy and in combination for treating patients with various advanced malignant solid tumors, including certain lung cancers.


Remegen (9995 HK): New Licensing Deal With AbbVie Brings $650M Upfront Cash

Smartkarma's AI Co-Pilot, Smartkarma

αSK

Smartkarma's AI Co-Pilot

Smartkarma

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

Research Reinvented

<ul>
 <li>
Dominant Market Position Driven by Keytruda: Merck's strong market position is largely underpinned by its blockbuster immuno-oncology drug, Keytruda, a significant revenue driver. The company's future growth is closely tied to the continued success and label expansion of Keytruda, as well as the performance of its vaccine portfolio, particularly Gardasil.</li>
 <li>
Robust R&amp;D Pipeline and Strategic Acquisitions: Merck maintains a strong commitment to research and development, consistently investing in a deep and diversified pipeline across various therapeutic areas, including oncology, vaccines, and infectious diseases. Strategic acquisitions, such as Prometheus Biosciences, are key to supplementing the internal pipeline and mitigating future patent expirations.</li>
 <li>
Looming Patent Expirations and Competitive Pressures: A primary challenge for Merck is the upcoming patent expiration of Keytruda in 2028, which is expected to lead to significant revenue decline due to biosimilar competition. The company also faces intense competition from other major pharmaceutical companies across its key therapeutic areas.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Dominant Market Position Driven by Keytruda: Merck's strong market position is largely underpinned by its blockbuster immuno-oncology drug, Keytruda, a significant revenue driver. The company's future growth is closely tied to the continued success and label expansion of Keytruda, as well as the performance of its vaccine portfolio, particularly Gardasil.
  
Robust R&amp;D Pipeline and Strategic Acquisitions: Merck maintains a strong commitment to research and development, consistently investing in a deep and diversified pipeline across various therapeutic areas, including oncology, vaccines, and infectious diseases. Strategic acquisitions, such as Prometheus Biosciences, are key to supplementing the internal pipeline and mitigating future patent expirations.
  
Looming Patent Expirations and Competitive Pressures: A primary challenge for Merck is the upcoming patent expiration of Keytruda in 2028, which is expected to lead to significant revenue decline due to biosimilar competition. The company also faces intense competition from other major pharmaceutical companies across its key therapeutic areas.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

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 Revolution Medicines Acquisition: How A RAS Cancer Deal Could Offset The Keytruda Cliff!

Merck is making headlines again, this time for reportedly circling Revolution Medicines in what could be one of the largest biotech acquisitions...

Baptista Research

Merck Buys Cidara In $9.2 Billion Deal—Here’s What They’re Really After!

Merck & Co., Inc.'s third-quarter performance demonstrates its commitment to leveraging scientific advances to deliver value in the healthcare...

Baptista Research

Merck & Co. Enters Retina Race with EyeBio Buy—Is This the Future of Vision Therapy?

Merck & Co., Inc.'s third-quarter performance demonstrates its commitment to leveraging scientific advances to deliver value in the healthcare...

Baptista Research

Remegen (9995 HK): New Licensing Deal With AbbVie Brings $650M Upfront Cash

Remegen inked an exclusive outlicensing deal with AbbVie for RC148, an investigational PD-1/ VEGF bispecific antibody drug candidate for an upfront...

Tina Banerjee

Primer: Merck & (MRK UN) - Sep 2025

Dominant Market Position Driven by Keytruda: Merck's strong market position is largely underpinned by its blockbuster immuno-oncology drug,...

αSK

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