Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS

Share on StockTwits

Top 20 global biopharmaceutical companies report 1.6% market capitalization growth to $3.67 trillion in 2023, reveals GlobalData


February 20, 2024 ( Newswire) The top 20 global biopharmaceutical companies experienced varied year-on-year (YoY) market capitalization shifts in 2023 amid the macroeconomic headwinds, steep patent cliffs and the commencement of US drug price negotiations under the Inflation Reduction Act (IRA). Nonetheless, there was a resilient upturn of 1.6% in aggregate market capitalization from $3.61 trillion on 31 December 2022 to $3.67 trillion on 31 December 2023, reveals GlobalData, a leading data analytics and research company.

Out of the top 20 players, 9 companies indicated positive growth in market capitalization, with four companies - Lilly (59.2%), Novo Nordisk (51.5%), Vertex Pharmaceuticals (41.4%) and Regeneron Pharmaceuticals (21.8%) - reporting more than 20% YoY growth in market capitalization.

Alison Labya, MSc, Business Fundamentals Analyst at GlobalData, comments: "Lilly witnessed the largest market capitalization growth of almost 60% to $553.4 billion in 2023, displacing Johnson & Johnson as the top player in the biopharmaceutical industry."

Lilly's substantial market capitalization growth in 2023 was attributed to the positive performance of its injectable synthetic peptide drug Mounjaro (also known as Zepbound for obesity) for the treatment of type 2 diabetes in Q1, Q2, and Q3. Lilly's growth was further fueled by Mounjaro's FDA approval for the treatment of obesity received in Q3, with Mounjaro forecasted to reach drug analyst consensus global forecast sales of $4.7 billion for 2023, according to GlobalData's Drugs Database Pharma Intelligence Center.

Like Lilly, the success of Novo Nordisk's obesity and diabetes drugs - Wegovy and Ozempic - drove its market capitalization growth to $355 billion, positioning Novo Nordisk in the top three global biopharmaceutical companies by market capitalization in 2023.

Vertex moved up by four places in the list with a market capitalization growth of 41.4% in 2023, fueled by the FDA approval of its CRISPR-based ex vivo cell therapy Casgevy (exagamglogene autotemcel [exa-cel]) with its partner CRISPR Therapeutics.

Regeneron's market capitalization growth was attributed to the FDA approval of its high-dose Eylea - a VEGF fusion protein - for eye diseases, which may likely offset standard Eylea's expected sales decline following looming biosimilar competition.

A total of 11 biopharmaceutical companies saw a market capitalization decline in 2023, with Moderna (-45.1%), Pfizer (-43.5%), Bristol-Myers Squibb (-31.8%), Johnson & Johnson (-18.3%) and Daiichi Sankyo (-14.1%) registering more than 10% YoY decline in their market capitalization.

Moderna and Pfizer's market capitalization decline was due to the diminishing demand for their COVID-19 products. Furthermore, Pfizer announced in Q4 its oral GLPR1 agonist danugliplon will not progress into Phase 3 trials for the treatment of obesity. Danugliplon was anticipated to rival Novo Nordisk's Wegovy and Lilly's Mounjaro in the weight loss drug market, amid efforts to mitigate post-COVID declines in revenue.

Bristol-Myers Squibb reported a market capitalization decline of 31.8% in 2023, largely due to the reduced sales of its blockbuster blood cancer drug Revlimid resulting from generic competition.

Labya concludes: "In light of the waning demand for COVID-19 products, the biopharmaceutical companies that reaped success in 2023 have shifted to those that have developed weight loss drugs, such as Lilly and Novo Nordisk. However, other biopharmaceutical companies are faced with the imminent patent cliffs and ongoing US drug price negotiations under the IRA, with the CEOs of Merck, Johnson & Johnson and Bristol-Myers Squibb having testified on high drug prices at a US Senate hearing in February 2024."

Notes to Editors

  • Quotes are provided by Alison Labya, MSc, Business Fundamentals Analyst at GlobalData
  • The information is based on GlobalData's Pharmaceutical Intelligence Center
  • This press release was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData's team of industry experts

About GlobalData

4,000 of the world's largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData's unique data, expert analysis and innovative solutions, all in one platform. GlobalData's mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire

Global investors must adhere to regulations of each country. Please read privacy policy:

That's all it takes to get an article published on Investor Ideas - Learn More - A Leading Global Investor Website for Biotech Industry Stocks - investing ideas in biotechnology stocks, medical technology and life sciences

Like Biotech Stocks? View our Biotech Stocks Directory

Get News Alerts on Biotech Stocks

Buy a biotech guest post on