In 2024, the biopharmaceutical industry saw a 7.9% increase in total revenue, reaching $880.4bn, with 19 of the top 20 companies reporting growth. Eli Lilly led with 32% revenue growth to $45bn, driven by obesity and breast cancer drugs. Novo Nordisk followed with 25.5% growth to $42.1bn from blockbuster diabetes drugs. Astellas Pharma also performed well, with 19.2% growth to $13.2bn, thanks to Xtandi sales for prostate cancer.

Pfizer and Roche rebounded in 2024 after Covid-19 product declines. Pfizer’s revenue increased by 6.8% to $63.6bn, driven by Paxlovid sales. Roche saw a 3% revenue growth to $68.7bn. Pfizer’s Eliquis led non-Covid-19 product sales, with $13.3bn in global sales. Pfizer is projected to see further growth from its Seagen acquisition, with drugs expected to achieve $8.8bn in sales by 2031.

Top biopharmaceutical companies had a successful 2024, with Eli Lilly projected to surpass Novo Nordisk in revenue growth. The industry is facing challenges in 2025, including drug patent expirations and pricing pressures in the US. Companies like Pfizer and Roche are diversifying their portfolios to recover from post-pandemic revenue losses.

Read more at Yahoo Finance: 2024 saw growth recovery for almost all top biopharma companies