The 50 Largest Pharmaceutical Companies
Welcome to our third-annual feature on the 50 largest pharma companies in the world, compiled according to 2023 revenue data taken from the companies’ respective annual reports. This list provides a comprehensive analysis of the industry’s leading players, offering insights into the organizations shaping the pharmaceutical landscape.
The top 50 companies, 20 of which are highlighted below, have shown remarkable resilience and innovation in the face of the pandemic. For comparison, check out our 2022 Pharma 50 report to observe how the pharma landscape a year ago. For a thorough analysis of all 50 companies in 2023, please refer to our downloadable Pharma 50 report, available as a PDF.
Also, be sure to check out more of our related features related to the top players in the pharma industry:
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- 50 best-selling pharmaceuticals of 2022: The top blockbuster drugs of last tear
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- Discover the 25 top pharma employers of 2023: Who fared best?
- Big spenders: The top 25 pharma companies Investing in R&D
- Resurgence of pharma M&A: A synopsis of recent deal-making trends
- 2023’s top 100 cell and gene therapy companies
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- 20 novel therapies set to shape the landscape of medicine in 2023: Promising therapies on the horizon
- 10 pioneering companies implementing AI in drug discovery, development and beyond: AI is accelerating the development of new therapies
Pfizer, which tops our list, led for the second consecutive year. In 2022, the company’s revenue broke the $100 billion barrier, a first in the industry, largely as a result of robust sales of COVID-19 products. The company has acknowledged, however, that it anticipates a dip in COVID-19 related sales in 2023.
Claiming the second position on our list, Merck & Co. maintains a sturdy footing in the pharma market. In 2022, the juggernaut Keytruda jumped 20%, driving $5.8 billion in revenue.
AbbVie also stood its ground in 2022, maintaining impressive sales even as it grappled with competition from biosimilars for its flagship rheumatoid arthritis drug, Humira.
Keep an eye out for additional analysis as we continue our research on the sector.