Nephron Research Announces U.S. Equity Research Alliance With Santander

This alliance provides Nephron Research leverage to expand its industry-leading brand into new markets and services and deepen its existing reach with global institutional clients.

NEW YORK, Oct. 1, 2025 /PRNewswire/ -- Nephron Research LLC (Nephron Research), the leading independent equity research firm specializing in the healthcare sector, announced today that it has entered a strategic alliance with Santander Corporate & Investment Banking's U.S. broker-dealer, Santander U.S. Capital Markets LLC.

Under the alliance, Nephron Research will be a provider of research coverage of the healthcare sector in the United States to Santander and its clients.

Santander will benefit from Nephron Research's leading research and established institutional relationships, while Nephron will benefit from Santander's scale, geographical reach and financial markets expertise and capabilities.

Joshua Raskin and Eric Percher, co-founders of Nephron Research commented: "We are excited to partner with Santander, one of the largest global banks, as they continue to expand their U.S. capital markets presence. We look forward to leveraging our market-leading Healthcare research platform with Santander's global scale and financial markets expertise to better serve our respective clients and unlock new avenues of mutual growth."

David Hermer, Head of Santander CIB US, said: "This alliance underscores the momentum of our U.S. growth strategy. By partnering with leading research firms across key sectors, we are expanding the insights and capabilities we bring to clients. Adding Nephron's healthcare expertise strengthens our capabilities in the U.S. and enhances the value we deliver to our corporate and institutional clients globally."

Under the terms of the alliance, Nephron Research maintains its existing ownership structure as an independent equity research provider and retains its sole focus on creating value for its clients.

About Nephron Research LLC

Nephron Research LLC (Nephron Research) is the leading independent equity research firm specializing in the healthcare sector. Founded in 2017 by Joshua Raskin and Eric Percher, its experienced team of analysts covers 84 companies across its broad healthcare and health policy coverage. 

About Santander

Banco Santander (SAN SM) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group's activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank's purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. At the end of the third quarter of 2024, Banco Santander had €1.3 trillion in total funds, 171 million customers, 8,100 branches and 208,000 employees.

Santander Corporate & Investment Banking (Santander CIB) is Santander's global division that supports corporate and institutional clients, offering tailored services and value-added wholesale products suited to their complexity and sophistication, as well as to responsible banking standards that contribute to the progress of society. Santander US Capital Markets LLC is the institutional broker-dealer of Santander in the United States, operating under Santander Corporate & Investment Banking.

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SOURCE Nephron Research LLC