Top 20 global pharmaceutical companies by revenue 2023

In 2023 – the first year of the post-Covid era , the pharmaceutical industry experienced robust growth, with many pharmaceutical companies achieving impressive revenues. First position in the Top 20 of the list is Johnson & Johnson with $85 billion in revenues, followed by Roche Holding AG with $67 billion and Merck & Co., Inc. with $60 billion. Pfizer Inc. and AbbVie Inc. also rounded out the top five with revenue of $58.5 billion and $54.3 billion, respectively. Other companies such as Bayer AG, Bristol Myers Squibb, AstraZeneca, Sanofi and GlaxoSmithKline (GSK) also had revenue between $40 billion and $51.7 billion. 

1. Johnson & Johnson

J&J  maintains its top position with a turnover of USD 85.16 billion. The company demonstrated growth in its core businesses and has made structural changes, such as spinning off its consumer healthcare business into a separate company called Kenvue.

2. Roche

Roche’s 2023 revenues are $65.32 billion, down 7.2% year-over-year. The decline was partly due to reduced COVID-related sales. However, the eye medicine Vabysmo has been a huge sales success.

3. Merck & Co.

Merck & Co. achieved a remarkable 17% increase, reaching USD 59.2 billion. Blockbuster drug Keytruda, used to treat various cancers, generated an impressive $25 billion, surpassing even Pfizer’s COVID-19 vaccine and antiviral drug Paxlovid.

4. Pfizer

Pfizer experienced a significant 41% decline to $58.5 billion primarily due to  decreased demand for COVID-19 vaccines and treatments. To expand its oncology porfolio, it acquired Seagen for $43 billion, a specialist in antibody-drug conjugates.

5. AbbVie

AbbVie reported sales of $54.3 billion, a slight decline (6%) due to biologic competition for its former top-selling drug, Humira. In response, AbbVie has diversified its portfolio by acquiring Allergan and strategic investment in growing areas like antibody drug conjugates.

6. Sanofi

Sanofi achieved revenue of 46.6 billion USD. Dupixent, an antibody drug developed in partnership with Regeneron, is their best-selling drug, bringing in €10.7 billion and accounting for about 25% of total revenue. Like other companies on the list, Sanofi is spinning off its consumer healthcare division.

7. AstraZeneca

AstraZeneca’s sales reached $45.81 billion, up 3.3% thanks to strong growth in the oncology sector. They are also focusing on metabolic disease drugs, as seen by the acquisition of an oral GLP-1 agonist from China’s Eccogene and Gracell Biotechnologies.

8. Novartis

Following the spin-off of its Sandoz subsidiary, which specializes in generics and biologics, Novartis achieved $45.4 billion in revenue. The cardiovascular drug Entresto and the multiple sclerosis injection Kesimpta were major contributors. They are targeting $4 billion in sales for Kisqali, a cancer drug, in the treatment of metastases.

9. Bristol Myers Squibb

Bristol Myers Squibb posted revenue of $45 billion, down slightly. Their best-selling drug, Eliquis, was affected by being placed on Medicare’s price negotiation list under the Inflation Reduction Act. Sales of its CAR-T cancer drug Abecma have declined. To fuel future growth, they acquired Karuna Therapeutics, RayzeBio, and Mirati Therapeuticss.

10. GSK

GSK’s sales reached $38.4 billion, driven by shingles vaccine Shingrix and bronchitis vaccine RSV Arexvy. They are also investing in conjugate antibody drugs and long-acting HIV treatments.

11. Eli Lilly

Eli Lilly’s sales reached $34.12 billion, growing strongly thanks to diabetes and obesity drugs such as Mounjaro. They expect to launch four new drugs this year, including donanemab to treat Alzheimer’s disease.

12. Novo Nordisk

Novo Nordisk, the company behind GLP-1 diabetes and obesity drugs such as Rybelsus, Ozempic and Wegovy, had a 31.5% rise in sales to $33.7 billion. They have adjusted their production and advertising strategies to meet the growing demand for these drugs.

13. Amgen

Amgen reported revenue of $28.2 billion, up 7% due to the $27.8 billion acquisition of Horizon Therapeutics. This acquisition gave them access to several new drugs, most notably Tepezza, which treats thyroid eye disease.

14. Boehringer Ingelheim

Boehringer Ingelheim recorded revenue of $27.3 billion, up 7.7%. Their respiratory drug Ofev has seen increased sales, but their biosimilar Cyltezo for Humira has not been as successful as expected. To drive growth, they are focusing on late-stage drugs and business partnerships.

15. Takeda

Takeda posted revenue of $27 billion, up 5.6%, despite generic competition for its attention deficit hyperactivity disorder drug Vyvanse. Entyvio, a drug to treat ulcerative colitis, and newly launched dengue vaccine Qdenga drove growth.

16. Gilead Sciences

Gilead Sciences reported revenue of $26.9 billion. While best known for their antiviral treatments, they are aiming to become a major player in the oncology space, with a particular focus on CAR-T therapy. Yescarta, Tecartus and Trodelvy are its main oncology medicines.

17. Bayer

Bayer’s sales fell 4.7% to $26.1 billion. The company faces challenges from the loss of exclusivity for its anticoagulant Xarelto and age-related macular degeneration treatment Eylea. Nubeqa and Kerendia, both cancer drugs, is expected to drive growth in the future.

18. Merck KgaA

Merck KGaA’s sales fell 5% to $18.8 billion due to reduced demand for COVID-related products. Bavencio and Mavenclad, both cancer drugs, are key growth drivers. They remain focus on investing in manufacturing and artificial intelligenceo.

19. Teva Pharmaceuticals

Teva’s sales rose 6% to $15.8 billion, marking a success return to growth after years of revenue declines. New CEO Richard Francis is shifting the company’s focus to business development and new medicines, particularly in the specialty drugs area.

20. Viatris

Viatris’ sales fell 5.5% to $15.4 billion. The company is undergoing a transition, focusing on new drugs and more complex generics. They hope to return to growth soon through new product launches and business deals.

In summary, the world’s leading pharmaceutical companies are prioritising the development of products such as cancer treatments, diabetes and obesity medicines, biosimilars and speciality medicines. Besides, M&A strategy is also the main trend.

Source: https://www.fiercepharma.com/