Top Biopharma Companies Show A Dip In Market Cap For Q3

The market capitalization of the top 20 biopharmaceutical businesses worldwide has decreased by 9.1%, from $3.45 trillion in Q2 2022 to $3.14 trillion in Q3 2022, as a result of growing generic competition and a decline in demand for COVID-19 vaccines and treatments.

16 of the top 20 biopharmaceutical companies saw a decrease in quarter-over-quarter (QoQ) market capitalization, according to GlobalData’s Pharmaceutical Intelligence Center Companies Database. Eight businesses had declines of more than 10%. Despite an 8% decline in market capitalization, Johnson & Johnson still holds the top spot, followed by Eli Lilly, Roche, and Pfizer.

An examination of market capitalization from quarter to quarter

According to a review of GlobalData’s Pharmaceutical Intelligence Center Drugs Database, Regeneron had record US sales of $1.63 billion from their eye disease treatment Eylea in Q3, despite a decline in the COVID-19 antibody, REGEN-COV, because it was ineffective against the Omicron form.

Daiichi Sankyo experienced a sales increase with its companion AstraZeneca for cancer drug Enhertu after having received US Food and Drug Administration (FDA) authorization in Q3 for HER2-low advanced disease and HER2-mutant metastatic non-small lung cancer, said Associate Director for Business Fundamentals Databases at GlobalData, Sharon Cartic.

Due to the growing number of Zantac cancer lawsuits, GSK and Sanofi’s share prices fell significantly by 46.4% and 24.2%, respectively, with GSK falling four spots to 17th position. Although the company anticipates FDA approval in May 2023 after gaining priority evaluation for its respiratory syncytial virus (RSV) vaccine, Cartic continued.

Moderna saw a market capitalization decrease of 18.6%, according to the organization’s report. Concerns that revenues of their COVID-19 vaccines may soon start to decline led Pfizer and AstraZeneca to disclose declines of 16.5% and 16.2%, respectively.

AbbVie (-12.3 percent) and Novo Nordisk both experienced negative market capitalization growth of more than 10%. Regeneron Pharmaceuticals and Daiichi Sankyo witnessed the highest gains in market capitalization over Q3 2022, Cartic stated, with 15.6 and 10%, respectively.

Due to its cystic fibrosis (CF) medicines, Vertex, a biopharmaceutical firm that made the top 20 list, displayed an increasing trend in Q3 2022, recording a 3% market capitalization rise.

The blockbuster drug posted significant US sales of $4.96 billion in Q3 according to GlobalData’s Drugs Database, and Cartic concluded: although AbbVie’s Humira is set to face biosimilar competition next year, the blockbuster drug is set to continue positive growth from its new immunology drugs, Skyrizi and Rinvoq.