Top Pharma Companies Report Strong H1 2025 Revenues Amid Mixed Performance Trends

　　【Pharmaceutical Network Industry DynamicsAccording to the 2025 half-year financial reports released by pharmaceutical industry companies, Johnson & Johnson, Roche, Merck, AbbVie, Pfizer, Eli Lilly, AstraZeneca, Novartis, Bayer, BMS and other companies ranked high in terms of revenue in the first half of the year.
 

Johnson & Johnson's semi-annual financial report for this year shows that the company's revenue increased by 4.1% year-on-year in the first half of 2025, reaching 45.636 billion US dollars. The financial report shows that the oncology business has become Johnson & Johnson's largest growth engine, with an income of 11.99 billion US dollars in the first half of the year, a year-on-year increase of 21.1%. Among them, the legendary CAR-T therapy has doubled in growth. It is reported that Carvykti (Ciltacabtagene Autoleucel), the BCMA CAR-T therapy co-developed by the company and Legend Biotech, achieved sales of 808 million US dollars in the first half of the year, doubling from 343 million US dollars in the same period last year. The full-year sales target is aimed at 2 billion US dollars.
 

Several other oncology drugs include Darzalex (daratumumab), a CD38 monoclonal antibody, which achieved sales of $6.776 billion in the first half of the year, representing a year-over-year increase of 21.7%. Tecvayli (teclistamab), a CD3/BCMA bispecific antibody product, reported sales of $317 million in the first half of the year, marking an 18.2% year-over-year growth. Talvey (talquetamab), a CD3/GPRC5D bispecific antibody, generated sales of $192 million in the first half of the year, reflecting a 52% year-over-year increase and was just approved in China this February.
 

Driven by the strong performance in the oncology and neuroscience sectors, Johnson & Johnson has raised its full-year revenue forecast to $93.2–$93.6 billion, with a growth range of 2.5% to 5%. Operating profit and earnings per share (EPS) have also been adjusted upward accordingly.
 

Roche's Total Revenue in the First Half of 2025 Reached 30.944 Billion Swiss Francs (Approximately $38.952 Billion), a Year-on-Year Increase of 7%. In Terms of Business Segments, the Company’s Pharmaceutical Division Stands Out with Sales Growth of 10%, Reaching 23.985 Billion Swiss Francs. Among Them, Five Key Growth Drivers Played an Indispensable Role: Phesgo for Breast Cancer Treatment, Xolair for Food Allergy Treatment, Hemlibra for Hemophilia A Treatment, Vabysmo for Severe Eye Disease Treatment, and Ocrevus for Multiple Sclerosis Treatment, with Total Sales Amounting to 10.6 Billion Swiss Francs, Increasing by 1.7 Billion Swiss Francs Compared to the First Half of 2024. This Growth Has Become the Core Force Driving the Company's Pharmaceutical Business.
 

Merck Achieves Total Revenue of $31.338 Billion in the First Half of 2025, but Down 2% Year-over-Year. Looking at the company's core products, Keytruda (K drug, pembrolizumab), the "blockbuster drug" that serves as the company’s revenue pillar, achieved sales of $15.161 billion in the first half of the year, accounting for nearly half (48.38%) of total revenue, with a year-over-year increase of 7%. However, compared to the 18% growth rate in the first half of 2024, its growth momentum has shown signs of slowing. Another product, the HPV vaccine Gardasil/Gardasil 9, performed poorly, with first-half sales reaching $2.453 billion, representing a significant year-over-year decline of 48%.
 

AbbVie's Performance in the First Half of 2025: Total Revenue of $28.766 Billion, Up 8% Year-over-Year. Global Net Revenue from Immunology in the First Half of the Year Reached $13.895 Billion, Increasing by 12.6%. Among Them, Skyrizi (Risankizumab) Generated $7.848 Billion (+65.8%); Rinvoq (Upadacitinib) Earned $3.746 Billion (+48.5%). Due to Patent Issues, Humira Sales Continued to Decline, Dropping to $2.301 Billion (-54.7%). The Respective Revenues of Skyrizi and Rinvoq Have Surpassed Humira and Are Still Experiencing Rapid Growth.
 

In addition, Pfizer's total revenue in the first half of 2025 was $28.367 billion, a year-on-year increase of 1%. Eli Lilly's total revenue in the first half of 2025 reached $28.286 billion, a year-on-year increase of 41%. AstraZeneca's total revenue in the first half of 2025 reached $28.045 billion, a year-on-year increase of 11%. Novartis' net sales in the first half of 2025 were $27.287 billion, a year-on-year increase of 12%. Bayer announced its performance for the first half of 2025, with total sales of €24.477 billion (approximately $27.101 billion), a year-on-year decrease of 1.7%. BMS's total revenue in the first half of 2025 was $23.470 billion, a year-on-year decrease of 2%.
 

Among them, AstraZeneca continued its strong growth momentum in the first half of the year. The financial report shows that the company's product sales revenue in the first half of the year was 26.67 billion U.S. dollars, an increase of 10% year-on-year. In the field of oncology, the revenue in the first half of the year was 11.954 billion U.S. dollars, an increase of 16%. The revenue of ADC Enhertu in the first half of the year, combined with Daiichi Sankyo's financial report, was approximately 2.289 billion U.S. dollars, and the growth was still rapid.
 

From the above-mentioned corporate financial report data, it can be seen that some pharmaceutical companies have passed the semi-annual assessment with excellent results, while many pharmaceutical enterprises have experienced a decline in performance. Analysis points out that this is also due to the multiple effects of patent expiration, intensified market competition, and policy adjustment pressures, causing the performance of multinational pharmaceutical companies to show a "two extremes" divergence. This further signifies that the global pharmaceutical industry has gradually bid farewell to the "golden decade" of high-speed growth and officially entered a new competitive stage driven by innovation breakthroughs and strategic focus.
 

Disclaimer: In no event shall the information or opinions expressed in this article constitute investment advice to any person.