30 Largest Pharmaceutical Companies in the World
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In this article, we will be taking a look at the 30 largest pharmaceutical companies in the world. To skip our detailed analysis, you can go directly to see the 10 Largest Pharmaceutical Companies in the World.
The world's leading pharmaceutical companies became the center of attention for people all over the world as a result of the dramatic spike in demand for drugs and vaccines following the Covid-19 pandemic. Some of the top pharmaceutical companies invested $200 billion in the research and development (R&D) of new drugs in 2020 to stay ahead of the competition.
Nevertheless, some of the most profitable pharmaceutical companies in the world are now focusing on emerging trends in the sector now that the pandemic is over. A prominent trend in the sector is the application of advanced technologies, like artificial intelligence, to speed up the development of new treatments for diseases like cancer, which accounted for the greatest number of deaths worldwide in 2020. Another significant trend is the emergence of precision medicine, a cutting-edge strategy for tailoring disease treatment and prevention that considers individual variability in genes, environment, and lifestyle for each person.
In addition, according to a report, the global precision medicine market size was valued at $73.49 billion in 2022 (the US precision medicine market was estimated to be worth USD 24.4 billion at the same time). The market is anticipated to expand at a compound annual growth rate of 11.5% from 2022 to 2030, reaching a value of $175.64 billion at the conclusion of the predicted period.
Meanwhile, here is what AstraZeneca PLC (NASDAQ:AZN) had to say regarding AI, advanced analytics, and personalized precision medicines during its Q3 2023 Earnings Call:
“Today I’ll highlight the use of AI and advanced analytics to drive faster decision-making with a commercial organization. Starting first with data and analytics, our in-house proprietary platform, called AZ Brain analyzes multiple large data sets, enriching the data to correct for inaccuracies, duplication and data gaps to generate actionable insights. Next, we leverage AI to improve patient diagnosis and personalized treatment approaches.
Building up on this, according to a report by Research and Markets, the global pharmaceutical drugs market was valued at $1.13 trillion in 2022. The market is anticipated to grow from $1.19 trillion in 2023 to $1.84 trillion in 2027, at a compound annual growth rate of 11.4% over the forecast period. The main driver of this growth is the increase in busy lifestyles and shifting consumer preferences, which are having an impact on the global disease profile, particularly chronic diseases like diabetes, cancer, and cardiovascular diseases. In 2022, North America dominated the pharmaceutical drugs market. However, over the course of the forecast period, the Middle East is anticipated to be the fastest growing region, per the report.
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Moreover, pharmaceutical companies are frequently labeled as defensive due to the fact that they provide necessary products for maintaining health and treating illnesses. As such, even during a recession, the demand for these products usually stays fairly steady. As previously noted, the sector delivered positive returns to investors in 2022, when the S&P 500 recorded its weakest annual performance since 2008. From December 2021 and December 2022, the NYSE Arca Pharmaceutical Index gained 4.91%, while the S&P 500 saw a notable decline of 19.4%. As of December 12, the index has returned 1.95% to investors on a year-to-date basis.
Having said that, today we will be taking a look at the biggest pharmaceutical companies in the world which include Eli Lilly and Company (NYSE:LLY), Novo Nordisk A/S (NYSE:NVO), and Johnson & Johnson (NYSE:JNJ) among others. If you are interested about the US drug market, please refer to our article Top 20 Drug Companies in the US by Revenue.
Photo by National Cancer Institute on Unsplash
Our Methodology
For this article, we started by compiling a thorough list of all companies that discover, develop, and manufacture drugs and medications across the globe. We then narrowed it down to only include companies with a significant market share, production capacity, geographic reach, and a diversity of product lines. This was achieved by carrying out an extensive analysis of numerous industry papers, financial reports, company websites, journals, and news articles.
The largest pharmaceutical companies in the world have been ranked in ascending order of their market capitalization based on data from Yahoo Finance as of December 12, 2023.
Largest Pharmaceutical Companies in the World
30. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)
Market Capitalization: $21.44 billion
First up on our list of our list of largest pharmaceutical companies in the world is Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY). The US-based company engages in the discovery, development and commercialization of RNAi therapeutics.
29. BioNTech SE (NASDAQ:BNTX)
Market Capitalization: $24.09 billion
BioNTech SE (NASDAQ:BNTX), headquartered in Germany, is a biotechnology company that develops immunotherapies for cancer and infectious diseases. It has a market cap of $24.09 billion as of December 12.
28. argenx SE (NASDAQ:ARGX)
Market Capitalization: $27.02 billion
argenx SE (NASDAQ:ARGX), Netherlands-based biopharmaceutical company, develops treatments for immune system diseases.
ClearBridge Select Strategy made the following comment about Argenx SE (NASDAQ:ARGX) in its Q3 2023 investor letter:
“New addition Argenx SE (NASDAQ:ARGX) is a Dutch biotechnology firm we consider a disruptor due to its unique treatments for rare diseases. The company demonstrated a successful launch during the quarter for its myasthenia gravis drug to treat an autoimmune disorder of the muscular system. Argenx is targeting the same molecule to treat other rare diseases, with key readouts by year end or early next year.”
27. Moderna, Inc. (NASDAQ:MRNA)
Market Capitalization: $31.26 billion
Moderna, Inc. (NASDAQ:MRNA), based in Massachusetts, United States, is a biotechnology company that focuses on the development of messenger RNA (mRNA) therapeutics and vaccines.
According to Insider Monkey’s third quarter database, 37 hedge funds were bullish on Moderna, Inc. (NASDAQ:MRNA) and disclosed positions worth $1.5 billion in the company.
26. Bayer
Market Capitalization: $33.18 billion
Bayer, founded in 1863, is a German pharmaceutical and life sciences company. It is also among the world's most profitable pharmaceutical companies, as was previously mentioned.
25. Biogen Inc. (NASDAQ:BIIB)
Market Capitalization: $35.66 billion
The Massachusetts-based biotechnology company Biogen Inc. (NASDAQ:BIIB) discovers, develops, and delivers therapies for neurological and neurodegenerative diseases.
On November 8, Biogen Inc. (NASDAQ:BIIB) reported a Q3 Non-GAAP EPS of $4.36 and a revenue of $2.53 billion, outperforming Wall Street estimates by $0.37 and $130 million, respectively.
24. Sun Pharmaceutical Industries Limited
Market Capitalization: $34.96 billion
Sun Pharmaceutical Industries Limited, based in India, manufactures, develops and markets a wide range of branded and generic formulation and active pharmaceutical ingredients (APIs). As of December 12, it boasts a market capitalization of $34.96 billion.
23. Seagen Inc. (NASDAQ:SGEN)
Market Capitalization: $41.80 billion
Seagen Inc. (NASDAQ:SGEN), based in the U.S, is a biotechnology company that develops and commercializes targeted therapies to treat cancer. As of December 12, the stock has returned 72.44% to investors on a year-to-date basis.
Moreover, with a market capitalization of over $41 billion as of December 12, it among the top pharmaceutical companies in the world.
22. Takeda Pharmaceutical Company Limited (NYSE:TAK)
Market Capitalization: $44.46 billion
Takeda Pharmaceutical Company Limited (NYSE:TAK), founded in 1781, is a Japanese pharmaceutical firm that sells drugs for cancer, immune system disorders, and other ailments.
At the end of Q3 2023, 13 hedge funds tracked by Insider Monkey reported having stakes in Takeda Pharmaceutical Company Limited (NYSE:TAK), compared with 12 in the preceding quarter.
21. Daiichi Sankyo
Market Capitalization: $53.51 billion
Daiichi Sankyo is a Japan-based pharmaceutical company with products and services in 29 countries/regions worldwide. As of December 12, it boasts a market capitalization of $53.51 billion.
20. Merck KGaA
Market Capitalization: $65.00 billion
Merck KGaA, headquartered in Darmstadt, Germany, is a science and technology company, which engages in the manufacture of pharmaceutical and chemical products. In 2022, the company's revenue was estimated to be $23.38 billion.
19. GSK plc (NYSE:GSK)
Market Capitalization: $74.83 billion
GSK plc (NYSE:GSK), headquartered in Brentford, United Kingdom, engages in the research, development, and manufacture of pharmaceutical medicines, vaccines, and consumer healthcare products. The company’s vaccine portfolio covers various diseases including hepatitis A and B, diphtheria, tetanus and whooping cough, measles, mumps and rubella, polio, typhoid, influenza, and bacterial meningitis.
With a market capitalization of $74.83 billion as of December 12, it is one of the top 20 pharmaceutical companies in the world on our list.
18. CSL Limited
Market Capitalization: $85.73 billion
CSL Limited, with products in more than 100 countries, is a biotechnology company with a dynamic portfolio of lifesaving medicines, including those that treat hemophilia and immune deficiencies, as well as vaccines to prevent influenza. The company was established in 1916 and is based in Australia.
17. Zoetis Inc. (NYSE:ZTS)
Market Capitalization: $86.98 billion
Zoetis Inc. (NYSE:ZTS), one of the world's largest producers of medicine and vaccines for pets and livestock, is headquartered in New Jersey, United States. As of December 12, the stock has returned 29.28% to investors on a year-to-date basis.
16. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)
Market Capitalization: $91.81 billion
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), an American biopharmaceutical company, has returned 23.38% to investors on a year-to-date basis as of December 12.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was a popular buy among hedge funds during the third quarter of 2023, as the company ended the quarter with 57 hedge fund positions, up from 54 in the preceding quarter, according to Insider Monkey’s database.
It is one of the largest pharmaceutical companies in the world.
15. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)
Market Capitalization: $92.43 billion
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), headquartered in Tarrytown, New York, is a biotechnology company. Among the popular drugs that the company sells are Libtayo, EYLEA, Dupixent, ARCALYST, and ZALTRAP. Moreover, as of December 12, the stock has returned 17.59% to investors on a year-to-date basis.
On November 2, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) reported a Q3 Non-GAAP EPS of $11.59 and a revenue of $3.36 billion, outperforming Wall Street estimates by $0.77 and $140 million, respectively.
14. Gilead Sciences, Inc. (NASDAQ:GILD)
Market Capitalization: $99.79 billion
Gilead Sciences, Inc. (NASDAQ:GILD), a US-based company, focuses primarily on HIV, AIDS, liver disease, and serious cardiovascular and respiratory conditions.
It is one of the top pharmaceutical companies in the world. On November 7, Gilead Sciences, Inc. (NASDAQ:GILD) posted earnings for the third quarter of 2023, reporting a Non-GAAP EPS of $2.29, beating market estimates by $0.38. The revenue over the period was $7.05 billion, up 0.1% compared to the revenue over the same period last year.
13. Bristol-Myers Squibb Company (NYSE:BMY)
Market Capitalization: $103.95 billion
Bristol-Myers Squibb Company (NYSE:BMY), one of the most profitable pharmaceutical companies in the world, focuses primarily on cancer, cardiovascular, immunology, and fibrotic therapeutic projects.
According to Insider Monkey’s third quarter database, 65 hedge funds were bullish on Bristol-Myers Squibb Company (NYSE:BMY) and disclosed positions worth $1.87 billion in the company.
12. Sanofi (NASDAQ:SNY)
Market Capitalization: $118.24 billion
Sanofi (NASDAQ:SNY), founded in 1973, is a pharmaceutical and healthcare company headquartered in Paris, France. As of December 12, Sanofi (NASDAQ:SNY) has a market cap of $118.24 billion.
11. Amgen Inc. (NASDAQ:AMGN)
Market Capitalization: $145.64 billion
American pharmaceutical companies dominate our list of the largest pharmaceutical companies in the world, and Amgen Inc. (NASDAQ:AMGN) is no exception. Founded in 1980, the company focuses on key areas such as oncology/hematology, inflammation, bone health, cardiovascular diseases, nephrology, and neuroscience.
The company announced a quarterly dividend of $2.13 per share on October 24, which was consistent with its previous dividend.
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Disclosure. None. 30 Largest Pharmaceutical Companies in the World is originally published on Insider Monkey.