Global Pharmaceutical Innovation Index Released: BeiGene and Takeda Surge in Rankings, Pfizer and AstraZeneca Lead

Pharmaceutical R&D involves high investment, long cycles, and significant risks. How to assess the future potential of a pharmaceutical company? Innovation in R&D and the ability to translate research into clinical applications may serve as critical evaluation criteria.

Recently, IDEA Pharma, a UK-based pharmaceutical consulting firm, released the 2022 Pharmaceutical Innovation Index and Pharmaceutical Invention Index rankings. Pfizer and AstraZeneca topped the two lists respectively. BeOne Medicines, as the only innovative pharmaceutical company in China to be included in both indices, ranked sixth in the Pharmaceutical Innovation Index and seventh in the Pharmaceutical Invention Index. Additionally, four companies newly appeared on the list: BioNTech, UCB, Horizon Therapeutics, and Shionogi.

The Pharmaceutical Innovation Index released by IDEA Pharma mainly focuses on the entire process time for a company to secure regulatory approval for a therapy. The Pharmaceutical Invention Index looks at the breadth and depth of pharmaceutical companies' R&D pipelines, as well as the novelty of therapies under development in those pipelines.

Scores of Companies in the 2022 Pharmaceutical Innovation Index and Pharmaceutical Invention Index

Source: IDEA Pharma

Pfizer and AstraZeneca Top the Two Lists Respectively

BeOne Medicines, Takeda Ranking Significantly Increased

According to statistics from IDEA Pharma, the 32 companies listed on the two major index lists generated a global total revenue of $884 billion in 2021, with R&D investment reaching $163 billion, accounting for 18% of their revenue. In 2021, these companies received approval for 23 New Molecular Entities and 9 biologics, with an average cost of $5.1 billion to launch a new drug. Additionally, over 2,300 clinical trials are currently underway, involving 1,300 new drugs.

Pfizer

Pfizer ranked 1st and 5th respectively in the 2022 Pharmaceutical Innovation Index and Invention Index.

In 2021, Pfizer achieved revenue of $81.29 billion, a year-on-year increase of 95%, driven by the mRNA COVID-19 vaccine Comirnaty. Additionally, Pfizer's oral treatment for COVID-19, Paxlovid, received FDA Emergency Use Authorization at the end of last year. According to Pfizer, Comirnaty and Paxlovid are expected to generate total sales of $54 billion in 2022, with Comirnaty contributing $32 billion.

Mike Rea, CEO of IDEA Pharma, believes: "When the wave comes, Pfizer is in the water." Pfizer had already collaborated with BioNTech in the mRNA field before the pandemic. Their ability to quickly pivot to a COVID-19 vaccine demonstrates an innovative, agile mindset and capability to interact with biotechnology, which also relies on Pfizer's robust clinical, manufacturing, commercialization, and distribution capacities.

Apart from its COVID-19 products, Pfizer also received approval from the U.S. FDA in 2021 for two other vaccines: Prevnar 20 (Pneumococcal 20-valent Conjugate Vaccine, 20vPnC) and Ticovac (used to prevent tick-borne encephalitis infections in individuals aged 1 year and above).

AstraZeneca

AstraZeneca ranked 2nd in the 2022 Pharmaceutical Innovation Index and 1st in the Invention Index.

AstraZeneca has consistently ranked among the top two pharmaceutical indices, and its recent rise to a higher level is not surprising. In 2021, AstraZeneca's total revenue reached $37.42 billion, a year-on-year increase of 41%. Amid the COVID-19 pandemic, AstraZeneca launched its adenovirus vector vaccine Vaxzevria in Japan and the EU, supplying 2.5 billion doses throughout the year, generating revenue of $3.981 billion.

On December 8, 2021, AstraZeneca's long-acting antibody cocktail therapy Evusheld (tixagevimab + cilgavimab) received emergency use authorization from the US FDA for pre-exposure prophylaxis of SARS-CoV-2. This is the first antibody therapy approved by the FDA for pre-exposure prevention of COVID-19.

In terms of R&D, AstraZeneca has 177 R&D projects, including 15 new molecules in the late-stage development phase. These products cover a wide range of oncology pipelines and rare disease drug pipelines.

BeOne Medicines

BeOne Medicines ranked 6th and 7th respectively in the 2022 Pharmaceutical Innovation Index and Invention Index, with a significant rise in rankings. It is the only innovative pharmaceutical company in China to be included in both major index lists for two consecutive years.

IDEA Pharma believes that BeOne Medicines won through defense rather than offense.

BeOne Medicines achieved a total revenue of $1.2 billion in 2021, representing a year-over-year increase of 280.8%. The company’s impressive clinical data supported its remarkable sales performance. BeOne Medicines’ self-developed BTK inhibitor, BRUKINSA (zanubrutinib), recorded global cumulative sales of approximately 1.4 billion yuan in 2021, marking a 423% year-over-year growth. This was primarily driven by the approval of multiple indications in the U.S. and the expansion of market demand. The product generated revenue of approximately 700 million yuan in the U.S., reflecting a significant year-over-year increase of 535%.

In addition, BeOne Medicines has nearly 50 clinical-stage candidates and commercial-stage products. Its R&D pipeline covers a variety of types, including small molecule drugs, monoclonal antibodies, bispecific antibodies, and antibody-drug conjugates (ADCs). Several drugs show differentiated and even "first-in-class" potential.

Takeda Pharmaceutical

Takeda Pharmaceutical ranked 7th in the 2022 Medicine Innovation Index and 18th in the Invention Index.

"Over the past few years, Takeda has been growing rapidly." Christophe Weber, the company's CEO, referred to 2021 as a "turning point" because Takeda narrowed its business focus by selling "non-core" assets and repaying the debt incurred from the large-scale acquisition of Shire. Currently, Takeda’s best-selling drug is Entyvio, used for inflammatory bowel disease, which has been the main driver of its performance growth. The drug generated sales of 395.4 billion yen in the first three quarters of last year, representing a year-on-year increase of 23.8%.

Last year, Takeda had two new drugs approved for marketing, Exkivity and Livtencity, and there may be more new drug approvals this year.

COVID-19 Drug Development Boosts Innovative Pharmaceutical Companies

Over the past two years, the impact of the pandemic on the biotechnology and pharmaceutical industries cannot be ignored. Until today, the COVID-19 pandemic is still raging in most parts of the world. Should the development of COVID drugs be included as an evaluation criterion in the pharmaceutical innovation and invention index?

IDEA Pharma's answer is yes. Its CEO, Mike Rea, believes that the success of Pfizer, BioNTech, Moderna, AstraZeneca, Johnson & Johnson, and others in the COVID-19 vaccine race is not just a reflection of luck or timing. It is also related to the accumulation of institutional and scientific work over many years and the ability to effectively adapt to meet current needs, which signifies true innovation.

BioNTech 

BioNTech made its debut in two major index rankings this year, securing the 8th position in the Pharmaceutical Innovation Index and the 19th position in the Pharmaceutical Invention Index.

Last year, driven by its mRNA COVID-19 vaccine collaboration with Pfizer, BioNTech's performance surged 3987%, transforming it into a globally recognized biopharmaceutical company. Moreover, this year BioNTech expects vaccine sales to continue generating revenue between 13 billion and 17 billion euros.

BioNTech has projects targeting infectious diseases beyond COVID-19, including programs for shingles, malaria, tuberculosis, HSV, and HIV. Its oncology portfolio is also extensive, with at least five programs in Phase II and approximately twelve programs in Phase I, covering pancreatic cancer, non-small cell lung cancer, colorectal cancer, melanoma, HPV16+ head and neck cancer, prostate cancer, and other solid tumors.

Moderna 

Moderna ranked 17th in the 2022 Pharmaceutical Innovation Index and 12th in the Invention Index, with its rankings slightly rising compared to last year.

In 2021, Moderna's revenue reached $18.47 billion, increasing more than 22 times compared to 2020. The majority of the total revenue ($17.7 billion) came from its COVID-19 vaccine, Spikevax, with global sales reaching 807 million doses. Moderna is also developing candidate vaccines targeting mutated strains of the coronavirus. The company expects that a redesigned vaccine for the Omicron variant will receive regulatory approval by late summer this year.

In addition to respiratory viruses, Moderna is also attempting to use mRNA technology to develop vaccines for HIV and Nipah virus, as well as treatments for acidemia and other diseases. Currently, Moderna has a total of 43 candidate products across 46 development programs, 29 of which are already in clinical trial stages.

Table 1. 2022 Pharmaceutical Innovation Index Rankings

Source: IDEA Pharma

Table 2. 2022 Pharmaceutical Invention Index Rankings

Source: IDEA Pharma

Source: Pharmaceutical Innovation and Invention Index 2022

Editor: Liuli

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