BioSpace examines the top 8 biopharmaceutical companies by net income

Yahoo! Finance and Insider Monkey project the biotechnology sector will grow from approximately $500 billion in 2020 to $950 billion in 2027. This growth is fueled by several factors, including an aging population and the rise of chronic diseases. The COVID-19 pandemic has drawn public attention to the industry and completely changed the fortunes of some companies – would Modern be where he is today without his COVID-19 vaccine? Unlikely, as there are no other products on the market.

Here is an overview of the eight most profitable biotechnology companies in the world. Profitability, in this case, refers to net income, as opposed to total revenue or sales.

8. Regeneron Pharmaceuticals. Based in New York, Regeneron develops drugs for infectious diseases, eye diseases, cardiovascular, allergic and inflammatory diseases and cancer. In the past, it has tended to drive innovation in a partnership with France’s Sanofi. In 2021, the company reported net income of $8.58 billion on annual revenue of $16.07 billion. For the year, $6.19 billion came from its COVID-19 antibody cocktail, Regen-Cov.

7. AbbVie. Based in Chicago, AbbVie reported 2021 revenue of nearly $56.2 billion with net income of $11.55 billion. The company’s products cover immunology, hematology, aesthetics, notably after its acquisition of Allergan, neurosciences, ophthalmology and women’s health.

6. Modern. Moderna is focused on the development of mRNA-based therapies. Its only product is its COVID-19 vaccine. In 2021, the company reported revenue of $18.5 billion, with GAAP net income of $12.2 billion. The vaccine is approved in more than 70 countries.

5. Merck & Co.. Based in Kenilworth, New Jersey, Merck reported $48.7 billion in sales in 2021, up 17% from the prior year, with GAAP net income of $12.345 billion. Although he abandoned efforts for a COVID-19 vaccine, his antiviral molnupiravir, which he developed with Ridgeback biotherapeutics, has been licensed in the United States and other countries. Merck distributed approximately 3 million courses to the US government under its supply agreement.

4. Rock. Based in Switzerland, the biopharmaceutical giant includes Genentech, headquartered in South San Francisco. Broadly, Roche offers therapeutic products for cancer, hepatitis, HIV/AIDS and anemia, as well as medicines for ophthalmology, dermatology and immunology. Roche also has a significant presence in the diagnostics markets for instruments and test kits. In 2021, Roche reported revenues of $72.04 billion, up 11.94% from the previous year. Net profit was $15.09 billion.

3. Johnson & Johnson. The New Jersey-based company focuses on three segments: consumer products, medical devices and pharmaceuticals. Within pharmaceuticals, its portfolio includes treatments in oncology, neurosciences, pulmonary hypertension and cardiovascular and metabolic diseases, and immunology and infectious diseases. In the United States, it is one of three companies that have an authorized COVID-19 vaccine. Last year the company reported revenues of $93.77 billion, an increase of 13.55% over the previous year. Net profit was $20.878 billion.

2.Pfizer. It’s hard to talk about Pfizer recently without mentioning the COVID-19 vaccine it developed with Germany’s BioNTech. It was the first to be licensed in the United States and by March 2022, 331 million doses had been administered in the United States alone. Pfizer’s Paxlovid, an oral antiviral treatment to prevent and treat COVID-19, is also on the market. The vaccine generated $36 billion in 2021. The company’s overall revenue for 2021 was $81.49 billion, an increase of 94.45% over 2020. Net income was $21 .97 billion dollars.

1. Novartis. Based in Switzerland, Novartis offers a range of medicines in the areas of ophthalmology, neurosciences, immunology, hepatology, dermatology, respiratory and cardiovascular. In 2021, Novartis reported $51.626 billion in revenue, an increase of 5.97% over 2020. Net profit was $24.108 billion.

In a note to investors following the company’s 2020 fourth quarter report, Oakmark Funds wrote, “Novartis is one of Europe’s largest pharmaceutical companies with a highly diversified portfolio of innovative products. Its stock price underperformed both the broader market and its pharma peers in 2020, largely due to a few disappointing late-stage trials and the lack of COVID-19-related therapies or vaccines from the society.