In Q3 2025, the top 20 global biopharmaceutical companies saw varied market capitalisation performances due to US President Trump’s tariffs and pricing pressure. Combined, their market cap rose 4% to $3.8trn, with UCB leading in growth at 40.9%, fueled by its drug Moonlake Immunotherapeutics’ success in trials.

Alnylam Pharmaceuticals experienced a 40.6% market cap growth in Q3 2025, driven by the performance of its RNAi therapeutic Amvuttra for ATTR-CM and hATTR PN, with global sales reaching $492 million. The EU approval of Amvuttra contributed to a forecasted global sales of $7.4 billion by 2031.

AbbVie’s market cap increased by 24.7% in Q3 2025, boosted by the acquisition of Capstan Therapeutics and plans to invest in a manufacturing facility to mitigate Trump’s tariffs. Johnson & Johnson also saw a 21.5% growth due to FDA approvals for Tremfya, with forecasted sales of $9.2 billion by 2031.

Novo Nordisk experienced a 21.8% market cap decline, citing reduced US demand for its obesity and diabetes drugs. Vertex reported a 12.2% drop in market cap after a failed study for its pain signal inhibitor and FDA denial for expanded approval of Journavx.

Industry leaders face challenges from Trump’s tariffs and pricing model. Those focusing on innovation through R&D, strategic investments, and expansion will be better positioned for long-term growth in the biopharmaceutical sector. The market cap of the top 20 players increased by 4% despite the headwinds, showcasing resilience and adaptability in the industry.

Read more at Yahoo Finance: Top 20 biopharma companies Q3 2025 market cap up 4% despite headwinds