The pharmaceutical industry is one of the largest and most financially powerful sectors globally, accounting for over $3 trillion in combined market capitalization and commanding vast reserves of capital. Here, we present our report “Inside Big Pharma: What 16 Giants Are Betting On Next” that analyses the dynamics of 16 select Big Pharma companies and their R&D and M&A pipelines.
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DALL-E 3: What Big Pharma Giants Are Betting On Next.
Revenue growth is strong across the sector, and reached $743B in 2024, up 11% from 2023.
Eli Lilly leads the sector in both market capitalization and revenue growth, fuelled by its emerging obesity/metabolic franchise
For several big pharma, revenue is extremely concentrated in a few top performing drugs. For example, 69% of Novo Nordisk’s revenue is concentrated in its top 3 drugs, which are all variants of Semaglutide.
Across R&D pipelines, oncology remains the largest area of focus, accounting for 37% of all declared projects. The second largest is Immunology and Inflammation, with 20%.
Small molecules (33%) and antibodies (34%) remain the most popular modalities across declared pipeline projects.
Despite market sentiment, at least 63 cell and gene therapies are in development.
Advanced therapeutic modalities such as oligonucleotides, cell and gene therapies, and therapeutic peptides now make up at least 18% of Big Pharma pipelines.
Novartis is a top innovator with respect to the use of advanced modalities, with 11 cell and gene therapies and 7 oligonucleotides in its pipeline
