Biggest biopharma firms see market cap decline
Research from industry analyst GlobalData has highlighted the extent to which the market capitalization of the largest biopharmaceutical firms has declined in the last quarter.
The decline is due to more competition from generic drugs, as well as falling sales of COVID-19 vaccines and therapeutics.
The aggregate market capitalization of the top 20 biopharmaceutical companies in the world fell by 9.1% from the second to the third quarter of the year, from $3.45 trillion to $3.14 trillion.
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