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>Viatris' Q3 2025 financial results reflect a strategic direction focused on operational efficiency, pipeline advancement, and shareholder value enhancement.</li><li>The company reported total revenues of $3.76 billion, experiencing a slight decline of approximately 1% compared to the previous year.</li><li>However, when adjusting for the impact of the Indore facility, revenue on an operational basis indicated an approximate growth of 1%, showcasing resilient performance across different markets and product segments.</li></ul>

Viatris' Q3 2025 financial results reflect a strategic direction focused on operational efficiency, pipeline advancement, and shareholder value enhancement.The company reported total revenues of $3.76 billion, experiencing a slight decline of approximately 1% compared to the previous year.However, when adjusting for the impact of the Indore facility, revenue on an operational basis indicated an approximate growth of 1%, showcasing resilient performance across different markets and product segments.

Viatris Unlocks Growth Through Smart Partnerships & Regional Investments — But Will These Moves Pay Off in 2026 and Beyond?

<ul><li>Viatris delivered a strong second quarter for 2025, despite some notable challenges.</li><li>The company achieved 3% divestiture-adjusted operational revenue growth, propelled by strong performance in Europe and Greater China.</li><li>Viatris's diversified global business allowed it to overcome disruptions such as the impact from its Indore manufacturing facility, which negatively affected revenues.</li></ul>

Viatris delivered a strong second quarter for 2025, despite some notable challenges.The company achieved 3% divestiture-adjusted operational revenue growth, propelled by strong performance in Europe and Greater China.Viatris's diversified global business allowed it to overcome disruptions such as the impact from its Indore manufacturing facility, which negatively affected revenues.

Viatris Inc.: Will Its Efforts Towards Cost Management Result In Near-Term Margin Expansion?

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>The NCLT has approved the Sequent-Viyash merger. The 56:100 swap ratio consolidates two Carlyle-backed entities into an INR 8,000 Cr+ Life Sciences platform.</li>
<li>The injection of Viyash’s 9 USFDA facilities and 28% EBITDA margin profile structurally repairs Sequent’s historical profitability issues, creating a diversified CDMO + Animal Health entity.</li>
<li>With pro-forma EBITDA running at INR 760 Cr (Annualized) and a management upgrade via Dr. Hari Babu (Ex-Mylan COO), the stock is primed for a re-rating if execution holds.</li>
</ul>


The NCLT has approved the Sequent-Viyash merger. The 56:100 swap ratio consolidates two Carlyle-backed entities into an INR 8,000 Cr+ Life Sciences platform.
The injection of Viyash’s 9 USFDA facilities and 28% EBITDA margin profile structurally repairs Sequent’s historical profitability issues, creating a diversified CDMO + Animal Health entity.
With pro-forma EBITDA running at INR 760 Cr (Annualized) and a management upgrade via Dr. Hari Babu (Ex-Mylan COO), the stock is primed for a re-rating if execution holds.


The Beat Ideas: Sequent Scientific Merger - CDMO Optionality with Margin Upside

<ul><li>Viatris, formerly known by the ticker VTRS, reported its Q1 2025 earnings, reflecting a careful balance of opportunities and challenges.</li><li>For this quarter, Viatris recorded $3.3 billion in total revenues, representing a marginal decline of 2% when adjusted for divestitures and operational changes.</li><li>This decline was largely attributed to continued issues at the Indore facility, which impacted revenues by approximately $140 million.</li></ul>

Viatris, formerly known by the ticker VTRS, reported its Q1 2025 earnings, reflecting a careful balance of opportunities and challenges.For this quarter, Viatris recorded $3.3 billion in total revenues, representing a marginal decline of 2% when adjusted for divestitures and operational changes.This decline was largely attributed to continued issues at the Indore facility, which impacted revenues by approximately $140 million.

Viatris Inc: Fast-Acting Meloxicam Development, A $650M Buyback Blitz, & Other Key Developments!

<ul><li>Viatris's latest financial disclosures highlight a mix of positive and negative developments, resulting in mixed implications for potential investors.</li><li>In examining Viatris's performance for 2024 and their outlook for 2025, there are notable strategic strengths and ongoing challenges to consider.</li><li>In 2024, Viatris reported a modest revenue growth of 2% on a divestiture-adjusted operational basis, reaching approximately $14.7 billion, consistent with their guidance.</li></ul>

Viatris's latest financial disclosures highlight a mix of positive and negative developments, resulting in mixed implications for potential investors.In examining Viatris's performance for 2024 and their outlook for 2025, there are notable strategic strengths and ongoing challenges to consider.In 2024, Viatris reported a modest revenue growth of 2% on a divestiture-adjusted operational basis, reaching approximately $14.7 billion, consistent with their guidance.

Viatris Inc.: Expanding Footprint in China To Change The Game!

United States

Viatris Inc. operates as a pharmaceutical company. The Company produces medicines for patients across broad range of major therapeutic areas spanning both noncommunicable and infectious diseases. Viatris serves clients worldwide.

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Viatris (VTRS US)

Viatris Unlocks Growth Through Smart Partnerships & Regional Investments — But Will These Moves Pay Off in 2026 and Beyond?

Viatris' Q3 2025 financial results reflect a strategic direction focused on operational efficiency, pipeline advancement, and shareholder value...

Baptista Research

Viatris Inc.: Will Its Efforts Towards Cost Management Result In Near-Term Margin Expansion?

Viatris delivered a strong second quarter for 2025, despite some notable challenges. The company achieved 3% divestiture-adjusted operational...

Baptista Research

The Beat Ideas: Sequent Scientific Merger - CDMO Optionality with Margin Upside

NCLT approves Sequent-Viyash merger, creating INR 8,000 Cr+ Life Sciences platform with 56:100 swap ratio and management upgrade.

Sudarshan Bhandari

Viatris Inc: Fast-Acting Meloxicam Development, A $650M Buyback Blitz, & Other Key Developments!

Viatris, formerly known by the ticker VTRS, reported its Q1 2025 earnings, reflecting a careful balance of opportunities and challenges. For this...

Baptista Research

Viatris Inc.: Expanding Footprint in China To Change The Game!

Viatris's latest financial disclosures highlight a mix of positive and negative developments, resulting in mixed implications for potential...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Viatris Unlocks Growth Through Smart Partnerships & Regional Investments — But Will These Moves Pay Off in 2026 and Beyond?

Viatris' Q3 2025 financial results reflect a strategic direction focused on operational efficiency, pipeline advancement, and shareholder value...

Baptista Research

Viatris Inc.: Will Its Efforts Towards Cost Management Result In Near-Term Margin Expansion?

Viatris delivered a strong second quarter for 2025, despite some notable challenges. The company achieved 3% divestiture-adjusted operational...

Baptista Research

The Beat Ideas: Sequent Scientific Merger - CDMO Optionality with Margin Upside

​NCLT approves Sequent-Viyash merger, creating INR 8,000 Cr+ Life Sciences platform with 56:100 swap ratio and management upgrade.

Sudarshan Bhandari

Viatris Inc: Fast-Acting Meloxicam Development, A $650M Buyback Blitz, & Other Key Developments!

Viatris, formerly known by the ticker VTRS, reported its Q1 2025 earnings, reflecting a careful balance of opportunities and challenges. For this...

Baptista Research

Viatris Inc.: Expanding Footprint in China To Change The Game!

Viatris's latest financial disclosures highlight a mix of positive and negative developments, resulting in mixed implications for potential...

Baptista Research

NCLT approves Sequent-Viyash merger, creating INR 8,000 Cr+ Life Sciences platform with 56:100 swap ratio and management upgrade.