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>Within the first quarter of 2024, Royalty Pharma displayed impressive performance, managing 14% growth in royalty receipts, thereby underlining the benefits of its diversified portfolio encompassing over 35 commercial products.</li><li>However, it is important to note a decline for milestones and other contractual payments, which were mainly affected by a high base of the year-ago quarter due to a single nonrecurring Biohaven-related payment.</li><li>Portfolio Receipts, as a result, decreased to $717 million, aligning with the company’s expectations.</li></ul>

Within the first quarter of 2024, Royalty Pharma displayed impressive performance, managing 14% growth in royalty receipts, thereby underlining the benefits of its diversified portfolio encompassing over 35 commercial products.However, it is important to note a decline for milestones and other contractual payments, which were mainly affected by a high base of the year-ago quarter due to a single nonrecurring Biohaven-related payment.Portfolio Receipts, as a result, decreased to $717 million, aligning with the company’s expectations.

Royalty Pharma: Identifying and Investing in Future Fields of Biopharma Innovation! - Major Drivers

<ul><li>Royalty Pharma reported a strong year of results in 2023, which demonstrated significant enhancements of its portfolio.</li><li>The company reported 9% growth in portfolio receipts and an increase in royalty receipts by 8%.</li><li>A total of $2.2 billion was deployed in cash for transactions while $4 billion in transactions was announced, making it a remarkable year for capital allocation.</li></ul>

Royalty Pharma reported a strong year of results in 2023, which demonstrated significant enhancements of its portfolio.The company reported 9% growth in portfolio receipts and an increase in royalty receipts by 8%.A total of $2.2 billion was deployed in cash for transactions while $4 billion in transactions was announced, making it a remarkable year for capital allocation.

Royalty Pharma: Will The Growing Synthetic Royalty Transactions Continue Their Trend In 2024? - Major Drivers

<ul><li>Royalty Pharma plc delivered mixed results for the previous quarter, with revenues below the analyst consensus.</li><li>The fiscal triumphs included a notable 9% augmentation in adjusted cash receipts, a parallel ascent in adjusted EBITDA, and a remarkable 10% surge in adjusted cash flow.</li><li>The expanded partnership with PTC was particularly laudable, resulting in procuring additional royalties for Evrysdi, a treatment for spinal muscular atrophy.</li></ul>

Royalty Pharma plc delivered mixed results for the previous quarter, with revenues below the analyst consensus.The fiscal triumphs included a notable 9% augmentation in adjusted cash receipts, a parallel ascent in adjusted EBITDA, and a remarkable 10% surge in adjusted cash flow.The expanded partnership with PTC was particularly laudable, resulting in procuring additional royalties for Evrysdi, a treatment for spinal muscular atrophy.

Royalty Pharma plc: Expanding Horizons with Teva Pharmaceuticals - A New Era in Clinical Research? - Major Drivers

<ul><li>Royalty Pharma plc delivered a strong result and managed an all-around beat last quarter.</li><li>As a result, the company delivered adjusted EBITDA growth of 4% for the quarter, substantially in line with the team's top-line growth.</li><li>The company's total royalty receipts increased by 1%.</li></ul>

Royalty Pharma plc delivered a strong result and managed an all-around beat last quarter.As a result, the company delivered adjusted EBITDA growth of 4% for the quarter, substantially in line with the team's top-line growth.The company's total royalty receipts increased by 1%.

Royalty Pharma plc: How Trelegy and Spinraza Are Changing The Game! - Major Drivers

Credit

<ul><li>Royalty Pharma Plc is a well-known pharma player known to carry out investments in purchasing royalty interests with the goal of modernization in life science.<li></li>Royalty Pharma has recently announced that it has acquired royalty interest in Gavreto from Blueprint Medicines for up to $340 million.<li></li>Additional royalty interests have been acquired by Royalty Pharma in Orladeyo and BCX9930 from BioCryst Pharmaceuticals.</li></ul>

Royalty Pharma Plc is a well-known pharma player known to carry out investments in purchasing royalty interests with the goal of modernization in life science.Royalty Pharma has recently announced that it has acquired royalty interest in Gavreto from Blueprint Medicines for up to $340 million.Additional royalty interests have been acquired by Royalty Pharma in Orladeyo and BCX9930 from BioCryst Pharmaceuticals.

Royalty Pharma plc: Detailed Credit Analysis & Financial Strength Evaluation Report

United States

Catalent, Inc. provides delivery technologies and development solutions for drugs, biologics and consumer health products. The Company's oral, injectable, and respiratory delivery technologies address the diversity of the pharmaceutical industry including small molecules, large molecule biologics and consumer health products.

Intra-Cellular Therapies Inc. researches and develops biopharmaceutical drugs. The Company engages in the research and development of small molecule drugs to treat neuropsychiatric and neurological diseases and other disorders of the central nervous system. Intra-Cellular Therapies offers its products to the medical industry.

Reata Pharmaceuticals, Inc. operates as a biopharmaceutical company. The Company focuses on identifying, developing, and commercializing product candidates that modulate the activity of key regulatory proteins involved in the biology of mitochondrial function, oxidative stress, and inflammation to address the unmet medical needs of patients with various life-threatening diseases.

Elanco Animal Health Incorporated operates as an animal health care company. The Company develops, manufactures, and markets products for companion and food animals. Elanco Animal Health serves clients worldwide.

Perrigo Company PLC is a global healthcare supplier that develops, manufactures, and distributes OTC and generic prescription pharmaceuticals, infant formulas, nutritional products, active pharmaceutical ingredients and pharmaceutical and medical diagnostic products. The Company's primary markets and locations of manufacturing and logistics operations are the US, UK, Mexico, and Australia.

Corcept Therapeutics Inc. is a pharmaceutical company that discovers and develops drugs for the treatment of severe metabolic and psychiatric disorders. The Company's lead product modulates the effect of cortisol, also known as the "stress hormone", by selectively blocking the binding of cortisol to one of its two known receptors, the GR-II receptor.

Prestige Brands Holdings, Inc. distributes over-the-counter healthcare and household cleaning products to retail stores in the United States, Canada and other international markets.  The Company distributes oral, eye and skin care; cough, cold, allergy and sinus; and household cleansers, sponges, scrubbers and cleaning pads.

Axsome Therapeutics, Inc. operates as a biopharmaceutical company. The Company focuses on developing therapies for pain, neurological disorders, and other central nervous system. Axsome Therapeutics serves patients worldwide.

Amneal Pharmaceuticals, Inc. operates as a pharmaceutical company. The Company specializes in developing, manufacturing, marketing, and distributing generic and biosimilar pharmaceutical products. Amneal Pharmaceuticals serves clients worldwide.

Supernus Pharmaceuticals Inc. is a specialty pharmaceutical company. The Company develops and markets proprietary drugs for the treatment of central nervous system diseases and disorders. Supernus has developed a portfolio of clinical stage drugs to address neurological and psychological problems such as epilepsy, conduct disorder, Parkinson's disease, ADHD, depression and anxiety.

CSPC Pharmaceutical Group Limited, through its subsidiaries, manufactures and sells pharmaceutical products.  The Company's products include vitamin C, antibiotics and common generic drugs. The Company is also engages in the development of innovative drugs and antibiotics.

Cipla Limited manufactures and sells pharmaceutical and personal care products. The Company offers active pharmaceutical ingredients, and formulations in therapeutic areas, such as allergy, analgesic, anti malarial, anti-infectives, cardiology, dermatology and cosmeceuticals, diabetology, gastroenterology, steroids, iron chelators, nutritional products.

China Resources Sanjiu Medical & Pharmaceutical Co., Ltd. manufactures and markets medicines, healthcare products, and medical instruments.  Through its subsidiaries, the Company also operates in pharmaceutical trading, printing, food manufacturing, real estate development, and provides medical services.

China Resources Sanjiu Medical & Pharma (000999 CH)

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. is a pharmaceutical company. Through its subsidiaries, the Company manufactures genetic medicines, Chinese traditional medicines, diagnostic products, and medical instruments, provides technology, marketing, and advertising services, as well as invests in import and export trading.

Shanghai Fosun Pharmaceutical (Group) (600196 CH)

Cadila Healthcare Ltd. manufactures, and markets healthcare solutions ranging from formulations, active pharmaceutical ingredients, vaccines, diagnostics, health and dietetic foods, animal healthcare to cosmeceuticals.  The Company's products are available in tablets, capsules, injections, liquids, dry syrups, powders, granules, and ointments.

Torrent Pharmaceuticals Ltd. manufactures bulk drugs and pharmaceutical formulations. The Company's formulations include cardio-vascular, psychotropic and anti-biotic drugs while its bulk drugs include atenolol, ciprofloxacin and norfloxacin. Torrent Pharmaceuticals has wholly owned subsidiaries in several regulated and less regulated international markets.

Dr. Reddy's Laboratories Limited provides a complete range of pharmaceutical services. The Company manufactures bulk drugs and formulations including verapamil and cephalexin. The Company also manufactures and exports molecules such as norfloxacin, ciprofloxacin, and varieties of semi-synthetic penicillin. The Company markets its products in India and around the world.

Lupin Limited manufactures bulk actives and formulations. The principal bulk actives manufactured by it include Rifampicin, Pyrazinamide, Ethambutol (anti-TB), Cephalosporins (anti-infectives) and cardiovasculars. The company also possesses competencies in phytomedicines, in which medicines are made out of plant and herbal resources supported by the discipline of modern medicine.

Kyowa Hakko Kirin Co.,Ltd. develops, manufactures, and markets pharmaceuticals. The Company's products include a protein produced by genetic recombination technology, an anti-anemia agent that attaches new sugar chains through partial modification of the amino acid sequence of human erythropoietin (EPO), and a glycoprotein, human erythropoietin.

Yunnan Baiyao Group Co., Ltd. manufactures and markets traditional Chinese medicines.  The Company also operates in pharmaceutical wholesale and retail trading, empty capsules manufacturing, and hotel operation.

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: Identifying and Investing in Future Fields of Biopharma Innovation! - Major Drivers

Within the first quarter of 2024, Royalty Pharma displayed impressive performance, managing 14% growth in royalty receipts, thereby underlining...

Baptista Research

Royalty Pharma: Will The Growing Synthetic Royalty Transactions Continue Their Trend In 2024? - Major Drivers

Royalty Pharma reported a strong year of results in 2023, which demonstrated significant enhancements of its portfolio. The company reported 9%...

Baptista Research

Royalty Pharma plc: Expanding Horizons with Teva Pharmaceuticals - A New Era in Clinical Research? - Major Drivers

Royalty Pharma plc delivered mixed results for the previous quarter, with revenues below the analyst consensus. The fiscal triumphs included a...

Baptista Research

Royalty Pharma plc: How Trelegy and Spinraza Are Changing The Game! - Major Drivers

Royalty Pharma plc delivered a strong result and managed an all-around beat last quarter. As a result, the company delivered adjusted EBITDA...

Baptista Research

Royalty Pharma plc: Detailed Credit Analysis & Financial Strength Evaluation Report

Royalty Pharma Plc is a well-known pharma player known to carry out investments in purchasing royalty interests with the goal of modernization in...

Baptista Research

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