The pharmaceutical industry is going through considerable change. Numerous pharmaceutical companies offer top-notch products. The pharmaceutical industry is one of the most lucrative and in-demand sectors. Manufacturers of pharmaceutical drugs are among the elements affecting a nation’s economic health.
On the other hand, we can assert that economic progress is under the pharmaceutical industry’s control—the main driving force behind creating more advanced and effective medical treatments.
The top 10 pharmaceutical companies in the world are as follows:
1. Pfizer
The success of the Covid-19 vaccine (Cominarty) and treatment (Paxlovid), which represented more than half of its operating income, helped the American juggernaut have a successful year. Not satisfied, the company first wants to break the USD 100 billion revenue threshold in 2022.
Despite Pfizer’s announcement that 13 “pivotal” clinical programmes will begin in 2021, R&D spending only increased from USD 8.9 billion to USD 10.5 billion, lagging behind revenue growth. Nevertheless, the corporation anticipates growth between 2025 and 2030, thanks partly to “durable Covid-19 sales.” The company’s annual revenue last year was $79.6 bn.
2. AbbVie
Innovation-driven AbbVie is this year’s second-largest pharmaceutical company in terms of sales. In 2013, AbbVie was established after the business split from Abbott. AbbVie concentrates its research and development efforts on incurable illnesses and has 47,000 employees worldwide in more than 70 countries. The company successfully acquired Allergan in May 2020, enhancing its position in several therapeutic fields like immunology, oncology, and neurology.
Sales at AbbVie will be $56.1 billion in 2021, up 22% from the previous year. The robust success of the company’s immunology portfolio, which generated sales of $25.28 billion, up 14.1% on a reported basis and 13.5% on an operational basis, was the main contributor to this. Sales climbed in hematologic cancer and neurology portfolios of AbbVie by 8.7% and 69.5%, respectively.
3. Johnson and Johnson
Beginning in 2021, Johnson & Johnson made a significant announcement: it will divide into two companies, splitting its pharmaceutical and consumer goods businesses. On Standard & Poor’s list of US-based companies, Johnson & Johnson is one of just two with a AAA credit rating—better than the US government.
Like Abbvie, J&J’s pharmaceutical industry faces challenges in the immunology and oncology sectors. Remicade, a star product, is losing market share to the copycat competition. The division of consumer health, which is expected to be broken off, is dealing with serious legal problems related to claims that its talcum powder and other talc-based goods contributed to cancer. Moreover, the company’s revenue last year was $52 bn.
4. Novartis
Just outside the top three is Novartis, a Swiss multinational pharmaceutical company that has been developing, producing, and ground-breaking marketing drugs for over 250 years. Novartis concentrates on innovative medicines, generics, and biosimilars and has a global presence in 155 nations.
Sales for the company’s Sandoz division rose by 2%. However, Novartis is evaluating Sandoz strategically and plans to provide an update no later than the end of 2022. To decide how to proceed, the evaluation will consider all options, from keeping the company together to dissolving. Moreover, Novartis generated a revenue of $51.6 bn.
5. Roche
The previous top-ranked Roche drops to fifth place on the list of leading pharmaceutical companies this year. With nearly 90,000 employees and a headquarters in Basel, Switzerland, Roche is a leader in cancer, immunology, infectious diseases, ophthalmology, and neurology. Pharmaceutical sales in 2021 totalled US$48.5 billion, a 2% decline from the previous year but a 3% gain at constant exchange rates, accounting for 72% of total revenues. Following a challenging 2020 caused by the pandemic, in which people avoided going to the doctor, Roche’s pharmaceutical division started to rebound in 2021, with the adoption of new drugs offsetting the competition from biosimilars.
6. Bristol-Myers Squibb
In 2022, Bristol-Myers Squibb will rank as the sixth-largest pharmaceutical company in the world. The organization has made significant medical advancements in cancer, hematology, immunology, and cardiovascular disease over its 135-year existence. Revenues at Bristol-Myers Squibb climbed by 12% to $46.4 billion, driven by immuno-oncology, Eliquis, stroke medication, and new product portfolios. In the full-year results call, board chair and CEO Giovanni Caforio noted, “2021 was a significant year for our firm as we reached important regulatory and clinical milestones and positioned the company to refresh our portfolio effectively.”
7. Merck and Co.
The development of its extensive pipeline, the acquisition of Acceleron Pharma, and the approval of monlupiravir, its oral antiviral for Covid-19, are among MSD’s highlights for 2021. The drug monlupiravir, created in collaboration with Ridgeback Biotherapeutics, brought in USD 42.8 billion in 2017.
By 2028, MSD anticipates the development of more than 90 potential new indications, including “notable” advancements for Keytruda, the company’s anti-PD-1 medication that fetched USD 17.2 billion in 2021 sales.
8. AstraZeneca
In 2022, AstraZeneca climbed one spot to tenth after acquiring Alexion. The Cambridge, UK-based AstraZeneca company specializes in creating medications for common illnesses such as cancer, cardiovascular disease, gastrointestinal disorders, infections, neurological conditions, respiratory issues, and inflammation.
In 2021, AstraZeneca’s revenue rose 41% to US$37.4 billion. Despite some challenging economic conditions in China, the company’s growth was evenly distributed throughout its main business segments, with double-digit growth in all significant geographic regions, including Emerging Markets. The company’s expansion was greatly aided by the acquisition of Alexion, an American pharmaceutical company, completed in July 2021.
9. Sanofi
The phase III studies for the Covid-19 vaccine are anticipated to end shortly. Therefore the French company started 2022 with a rebrand. Sanofi increased its early pipeline with 36 phases I–II projects in 2021 and earned eight “important” support in the US and EU for Dupixent, Libtayo, Sarclisa, and Nexviazyme. The speciality care business unit’s revenues eclipsed immunizations for the first time. The firm’s annual sales were $36.6 billion last year.
10. GSK
Tenth place goes to the worldwide pharmaceutical company GlaxoSmithKline, based in the UK. SmithKline Beecham plc and Glaxo Wellcome plc merged to establish GSK in 2000. Pharmaceuticals, biologics, vaccines, and consumer healthcare are its areas of expertise. The companies, pharmaceuticals, and vaccines sectors will generate $32 billion in sales in 2021, a 3% rise.
The pharmaceutical industry was spurred by sales of Xevudy, a monoclonal antibody treatment for Covid-19, which added around six percentage points to the growth of Pharmaceuticals. The demand for routine adult immunization decreased because of Covid-19, somewhat offsetting the 2% CER rise in vaccine turnover driven by pandemic sales.
