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 Capital Markets

Regeneron Pharmaceuticals / Equity Capital Markets

<ul><li>Regeneron Pharmaceuticals delivered impressive fourth-quarter results with revenues as well as earnings being well above analyst expectations.</li><li>These initiatives position Regeneron for a potential U.S. launch in late August this year.</li><li>We give Regeneron Pharmaceuticals a 'Hold' rating with a revised target price.</li></ul>

Regeneron Pharmaceuticals delivered impressive fourth-quarter results with revenues as well as earnings being well above analyst expectations.These initiatives position Regeneron for a potential U.S. launch in late August this year.We give Regeneron Pharmaceuticals a 'Hold' rating with a revised target price.

Regeneron Pharmaceuticals Inc.: Major Drivers

<ul><li>Regeneron had a successful second quarter surpassing Wall Street expectations on all counts with noteworthy performance in every segment.</li><li>The company made considerable pipeline progress in addition to having good commercial execution, with 3 regulatory approvals, 2 accepted regulatory filings, and 1 positive Phase III readout.</li><li>After five years and more than 450,000 patients treated since its launch, Dupixent is still expanding at a good rate.</li></ul>

Regeneron had a successful second quarter surpassing Wall Street expectations on all counts with noteworthy performance in every segment.The company made considerable pipeline progress in addition to having good commercial execution, with 3 regulatory approvals, 2 accepted regulatory filings, and 1 positive Phase III readout.After five years and more than 450,000 patients treated since its launch, Dupixent is still expanding at a good rate.

Regeneron Pharmaceuticals: The Libtayo Stake Acquisition & Other Driver

Equity Bottom-Up

Regeneron Pharmaceuticals / Equity Bottom-Up

<ul>
<li>This is our first report on biopharma major, Regeneron which is off to a great start in 2022.</li>
<li>Global net sales for EYLEA increased 11% to almost $2.4 billion in Q1, outpacing the growth of the anti-VEGF category in the United States by $1.5 billion.</li>
<li>Overall, we believe Regeneron is well-positioned to deliver sustainable growth and long-term value creation because of their long-term prospects for their business and productive pipeline.</li>
</ul>


This is our first report on biopharma major, Regeneron which is off to a great start in 2022.
Global net sales for EYLEA increased 11% to almost $2.4 billion in Q1, outpacing the growth of the anti-VEGF category in the United States by $1.5 billion.
Overall, we believe Regeneron is well-positioned to deliver sustainable growth and long-term value creation because of their long-term prospects for their business and productive pipeline.


Regeneron Pharmaceuticals: Initiation of Coverage – The Libtayo Acquisition & Other Drivers

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/belite-bio-inc" target="_blank" data-smartkarma-citation="entities:35842:1" rel="noopener">Belite Bio (BLTE US)</a> shares jumped 383% from its IPO price of $6 (announced in late April). Its lead candidate LBS-008 is in clinical trial for currently untreatable eye diseases.</li>
<li>LBS-008 continues to be well-tolerated. Interim safety and preliminary efficacy data from ongoing two-year phase 2 trial remained positive in Stargardt disease.</li>
<li>Belite is well-funded to commercialize its pipeline. With the progression of the clinical trial and more data readouts, we believe further stream is left in Belite Bio’s share price.</li>
</ul>



Belite Bio (BLTE US) shares jumped 383% from its IPO price of $6 (announced in late April). Its lead candidate LBS-008 is in clinical trial for currently untreatable eye diseases.
LBS-008 continues to be well-tolerated. Interim safety and preliminary efficacy data from ongoing two-year phase 2 trial remained positive in Stargardt disease.
Belite is well-funded to commercialize its pipeline. With the progression of the clinical trial and more data readouts, we believe further stream is left in Belite Bio’s share price.


Belite Bio (BLTE US): Lead Drug Candidate Tapping into Niche Market with Massive Opportunity

<ul>
<li>
<a href="https://www.smartkarma.com/entities/santen-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:8602:1" rel="noopener">Santen Pharmaceutical (4536 JP)</a> is the market leader for prescription ophthalmic pharmaceuticals in Japan, with 52% market share. 68% of total revenue comes from domestic market.  </li>
<li>Santen’s key partnered drug, Eylea, which contributes 29% of total revenue, is set to lose patent protection in Japan this year.</li>
<li>Eylea is expected to face competition from biosimilars as well as new biologic drugs launched. This will limit Santen’s near-term growth potential.  </li>
</ul>



Santen Pharmaceutical (4536 JP) is the market leader for prescription ophthalmic pharmaceuticals in Japan, with 52% market share. 68% of total revenue comes from domestic market.  
Santen’s key partnered drug, Eylea, which contributes 29% of total revenue, is set to lose patent protection in Japan this year.
Eylea is expected to face competition from biosimilars as well as new biologic drugs launched. This will limit Santen’s near-term growth potential.  


Santen Pharmaceutical (4536 JP): Future Is Uncertain Beyond Eylea

United States

Regeneron Pharmaceuticals, Inc. is a biopharmaceutical company that discovers, develops, and commercializes pharmaceutical products for the treatment of serious medical conditions. The Company has therapeutic candidates in clinical trials for the potential treatment of cancer, eye diseases, and inflammatory diseases, and has preclinical programs in other diseases and disorders.

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Regeneron Pharmaceuticals (REGN US)

Regeneron Pharmaceuticals Inc.: Major Drivers

Regeneron Pharmaceuticals delivered impressive fourth-quarter results with revenues as well as earnings being well above analyst...

Baptista Research

Regeneron Pharmaceuticals: The Libtayo Stake Acquisition & Other Driver

Regeneron had a successful second quarter surpassing Wall Street expectations on all counts with noteworthy performance in every segment. The...

Baptista Research

Regeneron Pharmaceuticals: Initiation of Coverage – The Libtayo Acquisition & Other Drivers

This is our first report on biopharma major, Regeneron which is off to a great start in 2022. Global net sales for EYLEA increased 11% to almost...

Baptista Research

Belite Bio (BLTE US): Lead Drug Candidate Tapping into Niche Market with Massive Opportunity

Belite’s lead candidate LBS-008 is targeting unmet market for AMD. With no approved drug for either of the targeted indications, LBS-008 has...

Tina Banerjee

Santen Pharmaceutical (4536 JP): Future Is Uncertain Beyond Eylea

Santen’s key drug to face biosimilar competition is the major overhang on the company’s near-term growth potential. The company does not have any...

Tina Banerjee

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