The Latest! Top 20 Global Pharmaceutical Companies By Market Capitalization

Apr 21, 2025Leave a message

In 2024, the global biopharmaceutical industry, despite the challenges of policy shifts and regulatory issues, saw almost all of the big pharma companies posting earnings growth by the fourth quarter. And in terms of market capitalization, the total market capitalization of the Top 20 pharma companies is trending up.

 

The total market capitalization of the world's top 20 biopharmaceutical companies grew 1.7% year-over-year to climb from $3.6 trillion to $3.7 trillion as of Dec. 31, 2024, according to a new report from industry analyst firm GlobalData.

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Image credit: GlobalData

 

Looking at specific companies, there are both market newcomers that are leading the way and industry giants that have suffered setbacks.

 

Ophelia Chan, Senior Analyst, Foundation Business, GlobalData, noted, "The biopharmaceutical industry faces a dynamic and changing landscape in 2024. The Federal Reserve's interest rate cut, healthcare policy concerns under Trump's second term, and the uncertainty created by Robert F. Kennedy Jr.'s anti-vaccine stance are combining to shape a new landscape for the industry."

GlobalData's analysis shows that more than two-thirds of the Top 20 pharma companies saw their market capitalization decline, but three companies saw double-digit growth: Eli Lilly (32.4%), AbbVie (14.8%) and Gilead Sciences (14.0%).

 

The top three led the way

Eli Lilly reigns at the top of the industry list with 32.4% market capitalization growth and a 2024 market capitalization of $733 billion on the back of strong demand for its weight-loss drugs Mounjaro and Zepbound (tizepatide). The newly published data from the SURMOUNT-5 Phase IIIb trial showed that Zepbound (tizepatide) showed a 47% improvement in weight loss compared to Novo Nordisk Wegovy (simethicone), further strengthening the market position.

 

AbbVie strengthened its oncology and neuroscience pipeline with the $19 billion acquisitions of ImmunoGen and Cerevel Therapeutics, driving a 14.8% increase in market capitalization. Third-quarter results showed that its oncology revenue climbed 11.6% year-over-year to $1.687 billion, while the neuroscience segment delivered strong growth of 15.6% to $2.363 billion.

 

Gilead Sciences saw its market capitalization grow 14% on the back of a breakthrough performance from its long-acting HIV drug, lenacapavir. The drug was shown to be superior to Truvada, a daily oral medication, for prevention in the Phase III PURPOSE 1/2 trial, and accelerated approval of Livdelzi (seladelphar) for the treatment of primary biliary cholangitis built a multi-dimensional growth engine.

 

The "dark horse" comeback

Belgian drugmaker UCB made its debut in the Top 20 with a 129% increase in market capitalization (from $16.9bn to $38.7bn), and its ace drug Bimzelx (bimecizumab), which has been approved for plaque psoriasis since October 2023, was added to the list of three more indications: psoriatic arthritis, non-radiographic axial spondyloarthritis and ankylosing spondylitis, and its convenience of use was enhanced by a single-needle dosage form. Convenience.

 

Giant setbacks

Weight-loss drug leader Novo Nordisk saw its market value shrink by 16.8% as the phase III REDEFINE 1 trial of its new-generation weight-loss drug CagriSema failed to meet expectations.Although CagriSema achieved 22.7% weight loss in the phase III REDEFINE 1 trial, it fell short of the expected target of 25%. However, global sales of its star products Wegovy and Ozempic rose 16.21% year-over-year to $6.8 billion in the third quarter.

 

CSL's acquisition of Vifor Pharma in 2022 was followed by a 10.5% drop in market capitalization as the latter's itch-relief drug Korsuva (diferacoumarin) faced problems with Medicare payments and other issues. The acquisition was meant to expand the vaccines and blood products business, but the integration has not been as effective as expected.

 

Conclusion

Industry fragmentation is highlighted by increased policy and regulatory uncertainty in 2024.In 2025, drug pricing controversies under the new Trump administration, inflationary trends, and changes in the FDA approval process are confounding the industry's growth prospects. The industry is currently experiencing a combination of economic volatility and policy uncertainty.

 

Reference source: https://www.globaldata.com/media/business-fundamentals/top-20-global-biopharma-firms-see-1-7-market-cap-growth-to-3-7-billion-in-2024-amid-policy-challenges-reveals-globaldata

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