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>Royalty Pharma reported its second quarter 2026 financial results showcasing continued growth and portfolio diversification across multiple biopharmaceutical royalty interests.</li><li>The company delivered 6% growth in portfolio receipts and a 14% increase in total receipts, outperforming guidance for the quarter.</li><li>Return on invested capital was 14.2%, while return on invested equity reached 20.1%, reflecting ongoing efficient capital deployment.</li></ul>

Royalty Pharma reported its second quarter 2026 financial results showcasing continued growth and portfolio diversification across multiple biopharmaceutical royalty interests.The company delivered 6% growth in portfolio receipts and a 14% increase in total receipts, outperforming guidance for the quarter.Return on invested capital was 14.2%, while return on invested equity reached 20.1%, reflecting ongoing efficient capital deployment.

Royalty Pharma’s $425 Million AstraZeneca Bet — Could Cliramitug Become A Blockbuster?

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Kim-Hwa Lim

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Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

<ul><li>The strategy seeks to invest in global companies with sustainable competitive advantages.</li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li><li>Previous portfolio returned -8.3% vs. MSCI World (-1.3%) – underperformed the benchmark by -7%.</li></ul>

The strategy seeks to invest in global companies with sustainable competitive advantages.By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.Previous portfolio returned -8.3% vs. MSCI World (-1.3%) – underperformed the benchmark by -7%.

Global Competitive Barrier Portfolio (14-Sep-2026)

<ul><li>Royalty Pharma plc has expanded its development-stage portfolio by acquiring part of Neurimmune’s royalty interest in AstraZeneca’s cliramitug, committing up to $425 million for a 3% to 4% royalty on worldwide net sales.</li><li>The structure includes $125 million upfront, another $125 million scheduled for the first quarter of 2027, and $175 million tied to clinical and regulatory milestones.</li><li>Cliramitug is a Phase 3, first-in-class antibody designed to remove transthyretin amyloid fibrils from the hearts of patients with ATTR cardiomyopathy, rather than only slowing further protein accumulation.</li></ul>

Royalty Pharma plc has expanded its development-stage portfolio by acquiring part of Neurimmune’s royalty interest in AstraZeneca’s cliramitug, committing up to $425 million for a 3% to 4% royalty on worldwide net sales.The structure includes $125 million upfront, another $125 million scheduled for the first quarter of 2027, and $175 million tied to clinical and regulatory milestones.Cliramitug is a Phase 3, first-in-class antibody designed to remove transthyretin amyloid fibrils from the hearts of patients with ATTR cardiomyopathy, rather than only slowing further protein accumulation.

Royalty Pharma’s Latest Acquisition Targets A $7 Billion Market!

<ul><li>Royalty Pharma PLC reported its financial results for the first quarter of 2026, reflecting continued growth and expansion of its biopharma royalty portfolio.</li><li>The company delivered a 10% increase in portfolio receipts and a 13% rise in royalty receipts, which form its recurring cash flow base.</li><li>This growth was underpinned by the strength and diversification of its portfolio, alongside ongoing capital deployment exceeding $500 million, including acquisitions of royalty interests in therapies such as Jazz and BeOne’s Ziihera and increased investments in Revolution Medicines’ daraxonrasib.</li></ul>

Royalty Pharma PLC reported its financial results for the first quarter of 2026, reflecting continued growth and expansion of its biopharma royalty portfolio.The company delivered a 10% increase in portfolio receipts and a 13% rise in royalty receipts, which form its recurring cash flow base.This growth was underpinned by the strength and diversification of its portfolio, alongside ongoing capital deployment exceeding $500 million, including acquisitions of royalty interests in therapies such as Jazz and BeOne’s Ziihera and increased investments in Revolution Medicines’ daraxonrasib.

Royalty Pharma’s $3.45 Billion Outlook — Can R&D Co-Funding Supercharge Growth?

<ul><li>Royalty Pharma reported a strong set of results for the fourth quarter and full year 2025, reflecting continued momentum in portfolio receipts, disciplined capital deployment, and progress following the internalization of its external manager.</li><li>Portfolio receipts grew 16% for the year, while recurring royalty receipts increased 13%, supported primarily by established products such as Trelegy, Tremfya, Voranigo, and the cystic fibrosis franchise.</li><li>Growth was achieved largely from the existing portfolio, with minimal contribution from new acquisitions completed during the year, highlighting the durability of the underlying assets.</li></ul>

Royalty Pharma reported a strong set of results for the fourth quarter and full year 2025, reflecting continued momentum in portfolio receipts, disciplined capital deployment, and progress following the internalization of its external manager.Portfolio receipts grew 16% for the year, while recurring royalty receipts increased 13%, supported primarily by established products such as Trelegy, Tremfya, Voranigo, and the cystic fibrosis franchise.Growth was achieved largely from the existing portfolio, with minimal contribution from new acquisitions completed during the year, highlighting the durability of the underlying assets.

Royalty Pharma’s Long Game—Synthetic Royalties, Portfolio Resilience, and Scalable Returns!

United States

Royalty Pharma plc acquires biopharmaceutical royalties. The Company funds innovation directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators.

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Royalty Pharma (RPRX US)

Royalty Pharma’s $425 Million AstraZeneca Bet — Could Cliramitug Become A Blockbuster?

Royalty Pharma reported its second quarter 2026 financial results showcasing continued growth and portfolio diversification across multiple...

Baptista Research

Global Competitive Barrier Portfolio (14-Sep-2026)

The strategy seeks to invest in global companies with sustainable competitive advantages. By adopting a portfolio of stocks instead of individual...

Crea8

Royalty Pharma’s Latest Acquisition Targets A $7 Billion Market!

Royalty Pharma plc has expanded its development-stage portfolio by acquiring part of Neurimmune’s royalty interest in AstraZeneca’s cliramitug,...

Baptista Research

Royalty Pharma’s $3.45 Billion Outlook — Can R&D Co-Funding Supercharge Growth?

Royalty Pharma PLC reported its financial results for the first quarter of 2026, reflecting continued growth and expansion of its biopharma...

Baptista Research

Royalty Pharma’s Long Game—Synthetic Royalties, Portfolio Resilience, and Scalable Returns!

Royalty Pharma reported a strong set of results for the fourth quarter and full year 2025, reflecting continued momentum in portfolio receipts,...

Baptista Research

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