Top 20 global biopharmas report 9.6% 1st-qtr capitalization growth

23 April 2024

Despite the ongoing uncertainties surrounding macroeconomic activities, fluctuating interest rates, and changes in the US Medicare Drug Price Negotiation landscape, the top 20 global biopharmaceutical companies experienced a promising first quarter this year.

They reported a total increase of 9.6% in market capitalization from $3.67 trillion as on December 31, 2023, to $4 trillion as on March 31, 2024, reveals sector analytics and research company GlobalData.

Over half of the top 20 pharma companies reported positive growth in market capitalization over first quarter 2024, with seven companies – Eli Lilly (NYSE: LLY) at 33.7%), Novo Nordisk (NOV: V) at 23.8%, Merck & Co (NYSE: MRK) at 21.0%), AbbVie NYSE: ABBV) at 17.8%), GSK (LSE: GSK) 17.7%), Daiichi Sankyo (TYO: 4568) at 15.0%) and Regeneron Pharmaceuticals (Nasdaq: REGN) at 10.4%) - reporting over 10% growth in market capitalization.

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