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2024 is an extraordinary year, with pharmaceutical giants achieving rapid sales growth. The entry threshold for the top 10 pharmaceutical giants has reached 44.5 billion US dollars, and Merck has once again become the world's largest pharmaceutical giant after many years.On February 4, Merck announced its financial results for 2024, with total annual revenue reaching $64.168 billion, a year-on-year increase of 7%. Driven by the strong revenue from Keytruda and the cervical cancer vaccine, Merck's pharmaceutical revenue reached $57.4 billion.Merck & Co. has been the pharmaceutical giant with the largest R&D investment in the past decade, but its innovation efficiency has not been ideal, and its product pipeline is highly dependent.Keytruda and the cervical cancer vaccine are the main reasons why Merck's market value is not outstanding among pharmaceutical giants.
Total Revenue: $64.2 billion, Pharmaceutical Sales: $57.4 billion, Net Profit: $17.1 billion, R&D Investment: $17.9 billion, Market Value: $220.8 billionSecond Place: Johnson & JohnsonJohnson & Johnson is one of the fastest-growing pharmaceutical giants in the past decade. Total revenue in 2024$88.8 billion, a year-on-year increase of 4.3%. Of this, pharmaceuticals and medical device sales reached $56.964 billion and $31.857 billion respectively, marking year-on-year growth of 4% and 5.8% respectively. Over the past year, Johnson & Johnson's pharmaceuticals division did not engage in large-scale mergers and acquisitions, and the immunosuppressant market has become saturated. Although ustekinumab generated $10.4 billion in revenue, it reflected a year-on-year decrease of 4.6%. The medical devices business achieved nearly 6% growth, but this was primarily driven by large-scale mergers and acquisitions.Total Revenue:Total Revenue: $88.8 billion,Pharmaceutical Sales: $570 Billion,Net Profit: $14.1 billion, R&D Investment: $17.2 billion，Market Value: 368.7 billion USDOn January 31, AbbVie announced its 2024 performance, with annual revenue of $56.334 billion, representing a 3.7% increase compared to the same period last year. During the reporting period, although Adalimumab sales declined by 37.6% to $8.993 billion due to biosimilar competition, new products Skyrizi (Risankizumab) and Rinvoq (Upadacitinib) performed very strongly, growing by 50.9% and 50.4%, respectively.Sales reached $11.718 billion and $5.971 billion, respectively. The two major products not only offset the sales decline of adalimumab but also drove a slight increase in business revenue. In addition, botulinum toxin is also a major revenue driver for AbbVie, with annual revenue exceeding $6 billion.Total Revenue: $56.3 billion, Pharmaceutical Sales: $56.3 billion, Net Profit: $4.3 billion, R&D Investment: $12.8 billion, Market Value: $336.8 billionAlthough Pfizer has retained the top position as the world's largest pharmaceutical giant for many consecutive years, Pfizer is known more for its mergers and acquisitions than for its research and development. Due to its low innovation efficiency, despite a revenue of over 60 billion USD, Pfizer's market value stands at only 150 billion USD, placing it towards the lower end among the top 10 pharmaceutical giants. Pfizer in 2024Revenue of $63.6 billion, up 7% year-over-year. Thanks toTransthyretin Amyloidosis DrugsChlorbenzazole(Vyndaqel)、Apixaban and the Boost of COVID-19 Drugs: Pharmaceutical SalesIncreased by 6% year-on-yearUp to USD 53.8 billion。Total Revenue: $63.6 billion, Pharmaceutical Sales: $53.8 billion, Net Profit: $8.0 billion, R&D Investment: $10.8 billion, Market Value: $145.9 billionRoche's total revenue in 2024 reached 62.4 billion Swiss francs (approximately 70.9 billion U.S. dollars), with sales of pharmaceuticals and diagnostics amounting to 46.2 billion Swiss francs (approximately 52.5 billion U.S. dollars) and 14.3 billion Swiss francs (approximately 16.3 billion U.S. dollars), respectively. The two major businesses grew by 8.2% and 3.5% year-on-year, respectively, driving a 7.0% increase in total revenue. Although Roche experienced the patent cliff of trastuzumab, rituximab, and bevacizumab, the popularity of new products has restored sales growth.Total Revenue: $70.9 billion, Pharmaceutical Sales: $52.5 billion, Net Profit: $10.4 billion, R&D Investment: $17.4 billion, Market Value: $255.3 billionOn February 6, British pharmaceutical giant AstraZeneca announced its 2024 performance, with annual revenue reaching $54.073 billion, a year-on-year increase of 18%, showing very strong growth.Net product sales were $50.938 billion, a year-on-year increase of 16%, with post-tax profits of $7.041 billion, a year-on-year increase of 18%. Over the past decade, AstraZeneca's transformation has been highly successful, with both revenue and market value nearly increasing 2.5 times.Total Revenue: $54.1 billion, Pharmaceutical Sales: $50.9 billion, Net Profit: $7.0 billion, R&D Investment: $13.6 billion, Market Value: $223.3 billionNovartis Released Its 2024 Financial Report on February 3, with a Total Revenue of $51.722 Billion, Increasing by 11% Year-on-Year. With the help of products such as Entresto, Novartis's pharmaceutical sales reached $50.3 billion. Despite the spin-off of Sandoz, the revenue scale did not significantly decline.Total Revenue: $51.7 billion, Pharmaceutical Sales: $50.3 billion, Net Profit: $11.9 billion, R&D Investment: $10 billion, Market Value: $212.6 billion8th: Bristol-Myers SquibbBristol-Myers Squibb announced its financial results for 2024 on February 6, reporting total revenue of $48.3 billion, a year-on-year increase of 7%. Bristol-Myers Squibb is one of the representatives of a sales-driven company successfully transforming into a technology-driven company. In recent years, it has launched multiple immune checkpoint inhibitors. Driven by such products and apixaban, its performance has rebounded from previous declines. The pharmaceutical sales in 2024 were $46.8 billion, increasing by 7% year-on-year.Total Revenue: $48.3 billion, Pharmaceutical Sales: $46.8 billion,Net Profit: -$8.9 billion, R&D Investment: $11.2 billion, Market Value: $115.3 billionOn February 6, Eli Lilly and Company disclosed its 2024 performance, with annual revenue reaching $45.043 billion, a year-on-year increase of 32%, and net profit at $10.59 billion, a year-on-year increase of 102%. The outstanding performance of Eli Lilly is mainly driven by tirzepatide, with the diabetes version generating $11.540 billion in sales and the weight loss version $4.926 billion, totaling $16.466 billion. Eli Lilly is the world's most valuable pharmaceutical company. In addition to having a very rich R&D pipeline, GLP-1, AD, and non-alcoholic steatohepatitis (NASH) are all hot areas for investment. Despite a debt ratio exceeding 80%, its stock price continues to hit new highs.
Total Revenue: $45 billion, Pharmaceutical Sales: $45 billion, Net Profit: $10.6 billion, R&D Investment: $11 billion, Market Value: $833.8 billionOn January 30, Sanofi released its financial results for 2024, with total revenue increasing by 8.6% year-over-year to €41.081 billion (approximately $44.5 billion). In recent years, Sanofi has been significantly impacted by the patent cliff, with performance primarily driven by Dupixent (dupilumab). As indications have expanded, sales of this product have continued to rise, growing by 22% year-over-year in 2024 to €13.072 billion (approximately $14.1 billion). Notably, over the past year, Sanofi divested its consumer healthcare business, becoming a pure-play pharmaceutical company.
Total Revenue:USD 44.5 billion, Pharmaceutical Sales: USD 44.5 billion, Net Profit:$6.3 billion, R&D investment:$8 billion, Market Value:$135.9 billion
On February 5, Danish company Novo Nordisk officially released its 2024 annual report, showing a total annual revenue of 290.403 billion Danish kroner (approximately 42.13 billion US dollars), representing a year-on-year increase of 25%. A decade ago, Novo Nordisk was still a mid-sized company, but thanks to the explosive popularity of GLP-1, the company's revenue has nearly tripled in just 10 years. Semaglutide is the company’s top revenue-generating product, with annual sales reaching 29.28 billion US dollars, second only to Keytruda (29.5 billion US dollars), making it the world’s second best-selling drug.Total Revenue: $42.1 billion, Net Profit: $14.7 billion, R&D Investment: $7 billion, Market Value: $379 billionGSK, a long-standing British giant, had placed its strategic focus on consumer healthcare prior to 2020. However, after the new leader took office, the company began driving a transformation from marketing-heavy to technology-focused, spinning off its consumer healthcare business and restructuring its oncology pipeline. In 2024, total revenue reached £31.4 billion (approximately $40.1 billion), a year-on-year increase of 3.6%. Due to GSK's heavy debt burden (average asset-liability ratio over the past three years was as high as 80%), its transformation journey has been bumpy and exceptionally challenging.Total Revenue: $40.1 billion, Net Profit: $3.8 billion, R&D Investment: $8.2 billion, Market Value: $74.9 billion
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