Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

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

Research Reinvented

Index Rebalance

VanEck Gold Miners ETF/USA / Index Rebalance

<ul>
<li>Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,000+ insights published over the past two weeks on Smartkarma</li>
<li>In this cut, we spotlight building materials corporate actions, gold miners’ benchmark shifts, and semaglutide’s prospects in India and Japan</li>
<li>Want to dig deeper? Comment or message on the themes you think should be highlighted next</li>
</ul>


Welcome to Curator’s Cut, a fortnightly roundup of standout themes from the 1,000+ insights published over the past two weeks on Smartkarma
In this cut, we spotlight building materials corporate actions, gold miners’ benchmark shifts, and semaglutide’s prospects in India and Japan
Want to dig deeper? Comment or message on the themes you think should be highlighted next


Curator's Cut: Building Materials Moves, Benchmarking Gold Miners & Semaglutide in India and Japan

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>Novo Nordisk A/S reported its financial results for the first quarter of 2025, showcasing strong growth across its operations, though facing certain challenges.</li><li>The company delivered an 18% increase in sales and a 20% growth in operating profit, reflecting robust demand for its diabetes and obesity treatments.</li><li>These positive results underscore the company's ongoing market leadership, with approximately 46 million patients currently benefiting from its treatment solutions.</li></ul>

Novo Nordisk A/S reported its financial results for the first quarter of 2025, showcasing strong growth across its operations, though facing certain challenges.The company delivered an 18% increase in sales and a 20% growth in operating profit, reflecting robust demand for its diabetes and obesity treatments.These positive results underscore the company's ongoing market leadership, with approximately 46 million patients currently benefiting from its treatment solutions.

Novo Nordisk Is Capitalizing On The Worldwide Weight Loss BOOM—Here’s What’s Coming!

Healthcare Equity Analyst - Emerging & Dev Markets, daaimon

Avien Pillay

Healthcare Equity Analyst - Emerging & Dev Markets

daaimon

daaimon is an independent research company focusing on healthcare and consumer sectors across developed and emerging markets. We produce insightful research which challenges conventional thinking. In particular, we look for new ideas by testing consensus forecasts and markets expectations.

<ul>
<li>Strong results reflect progress of existing approved drugs including key oncology drugs.</li>
<li>Mazdutide is set to be released in 2025, and the company is currently making plans for the release.</li>
<li>Innovent Biologics continues to add to its drug development portfolio.</li>
</ul>


Strong results reflect progress of existing approved drugs including key oncology drugs.
Mazdutide is set to be released in 2025, and the company is currently making plans for the release.
Innovent Biologics continues to add to its drug development portfolio.


Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Equity Capital Markets

<ul>
<li>PegBio is looking at raising up to USD 100m to list in Hong Kong.</li>
<li>We have previously covered the company’s fundamentals and a brief valuation.</li>
<li>We look at the difference between previous filing and current PHIP filing. We see massive delays which don’t position the company well for the listing.</li>
</ul>


PegBio is looking at raising up to USD 100m to list in Hong Kong.
We have previously covered the company’s fundamentals and a brief valuation.
We look at the difference between previous filing and current PHIP filing. We see massive delays which don’t position the company well for the listing.


PegBio 派格生物 IPO: PHIP Updates Don’t Look Good

<ul><li>Novo Nordisk delivered a strong financial performance in 2024, with a 26% rise in both sales and operating profit, driven by its blockbuster diabetes and obesity drugs, Ozempic and Wegovy.</li><li>The company reported a 30% year-over-year revenue increase in the fourth quarter, surpassing expectations, largely due to pricing adjustments in the U.S. The results eased investor concerns over a potential slowdown in the obesity market, particularly after rival Eli Lilly’s recent sales miss.</li><li>Novo’s stock surged 3% in European trading and 3.4% in premarket U.S. trading following the earnings report.</li></ul>

Novo Nordisk delivered a strong financial performance in 2024, with a 26% rise in both sales and operating profit, driven by its blockbuster diabetes and obesity drugs, Ozempic and Wegovy.The company reported a 30% year-over-year revenue increase in the fourth quarter, surpassing expectations, largely due to pricing adjustments in the U.S. The results eased investor concerns over a potential slowdown in the obesity market, particularly after rival Eli Lilly’s recent sales miss.Novo’s stock surged 3% in European trading and 3.4% in premarket U.S. trading following the earnings report.

Novo Nordisk: Can This $11 Billion Expansion Solve Its Wegovy and Ozempic Supply Crisis & Give It An Edge Over Eli Lilly?

Denmark

Novo Nordisk A/S develops, produces, and markets pharmaceutical products. The Company focuses on diabetes care and offers insulin delivery systems and other diabetes products. Novo Nordisk also works in areas such as haemostatis management, growth disorders, and hormone replacement therapy. The Company offers educational and training materials. Novo Nordisk markets worldwide.

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Novo Nordisk (NVO US)

Curator's Cut: Building Materials Moves, Benchmarking Gold Miners & Semaglutide in India and Japan

This Curator's Cut profiles moves in building materials companies, gold miners' changing benchmark and semaglutide's prospects in India and Japan...

Pranav Rao

Novo Nordisk Is Capitalizing On The Worldwide Weight Loss BOOM—Here’s What’s Coming!

Novo Nordisk A/S reported its financial results for the first quarter of 2025, showcasing strong growth across its operations, though facing...

Baptista Research

Update on Innovent Biologics (1801 HK)

Innovent Biologics sees strong results from existing drugs, prepares for release of Mazdutide in 2025, and expands drug development portfolio.

daaimon

PegBio 派格生物 IPO: PHIP Updates Don’t Look Good

PegBio plans to raise up to $100m for a Hong Kong listing. We compared the filings and noted massive delays and more competitors joining the race.

Ke Yan, CFA, FRM

Novo Nordisk: Can This $11 Billion Expansion Solve Its Wegovy and Ozempic Supply Crisis & Give It An Edge Over Eli Lilly?

Novo Nordisk delivered a strong financial performance in 2024, with a 26% rise in both sales and operating profit, driven by its blockbuster...

Baptista Research

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52-week Range

Market Cap (USDm)

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Dividend (Yield)

Curator's Cut: Building Materials Moves, Benchmarking Gold Miners & Semaglutide in India and Japan

​This Curator's Cut profiles moves in building materials companies, gold miners' changing benchmark and semaglutide's prospects in India and Japan...

Pranav Rao

Novo Nordisk Is Capitalizing On The Worldwide Weight Loss BOOM—Here’s What’s Coming!

Novo Nordisk A/S reported its financial results for the first quarter of 2025, showcasing strong growth across its operations, though facing...

Baptista Research

Update on Innovent Biologics (1801 HK)

​Innovent Biologics sees strong results from existing drugs, prepares for release of Mazdutide in 2025, and expands drug development portfolio.

daaimon

PegBio 派格生物 IPO: PHIP Updates Don’t Look Good

​PegBio plans to raise up to $100m for a Hong Kong listing. We compared the filings and noted massive delays and more competitors joining the race.

Ke Yan, CFA, FRM

Novo Nordisk: Can This $11 Billion Expansion Solve Its Wegovy and Ozempic Supply Crisis & Give It An Edge Over Eli Lilly?

Novo Nordisk delivered a strong financial performance in 2024, with a 26% rise in both sales and operating profit, driven by its blockbuster...

Baptista Research

This Curator's Cut profiles moves in building materials companies, gold miners' changing benchmark and semaglutide's prospects in India and Japan...

Innovent Biologics sees strong results from existing drugs, prepares for release of Mazdutide in 2025, and expands drug development portfolio.

PegBio plans to raise up to $100m for a Hong Kong listing. We compared the filings and noted massive delays and more competitors joining the race.