19 Pharmaceutical Companies Make the 2024 Fortune 500 List, Led by Johnson & Johnson, Merck, and Pfizer
Johnson & Johnson
Medical Device R&D and Manufacturer
Source:FORTUNE: Worry-free
On June 4, Fortune released the 2024 Fortune 500 ranking of the United States, marking the 70th year of the publication of this ranking. The ranking is based on the companies' revenue in 2023, with 19 pharmaceutical enterprises making it to the list. The top three positions are held by Johnson & Johnson,Merck & Co.and Pfizer.
Among the top 100Four pharmaceutical companies
The 2 Most Profitable Pharmaceutical Companies
Two of the 50 most profitable companies are pharmaceutical enterprises: Johnson & Johnson, ranked 42nd with a profit of $35,153 million, and98Position ofBristol-Myers SquibbCompany, Profit is8,025Million dollars.
Johnson & Johnson Returns to the Top
In January this year, according toJohnson & Johnson AnnouncesThe2023 Performance Shows, itsSales increased by 6.5% year-on-year, reaching 85.2 billion US dollars.Johnson & Johnson topped the list of pharmaceutical companies again with a revenue of $85.2 billion (pharmaceuticals and medical device businesses).Notably, this figure for Johnson & Johnson does not yet include the data from Kenvue, its consumer health business.
According to Johnson & Johnson's announcement, its revenue is expected to maintain an annual growth rate of 5% to 7% between 2025 and 2030, with steady growth in pharmaceutical business revenue, which is expected to contribute $57 billion in income in 2024. Industry insiders analyzed that, barring any unforeseen circumstances, Johnson & Johnson will likely top the list of pharmaceutical company revenues again next year.
BMS：On February 2, Bristol-Myers Squibb (BMS) announced its 2023 financial results, with total annual revenue of $45.06 billion (-2%), includingPD-1 InhibitorOpdivo's sales reached $9 billion (+9%), and combined with Ono Pharmaceutical's reported revenue of 148.1 billion yen ($10 billion) in Japan, Opdivo's global sales surpassed $10 billion for the first time.
BMS expects to achieve low single-digit revenue growth in 2024 and potentially add more than 16 new molecular entities over the next decade.
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