Source | Yaozhi Network
Author | Oh
The top 20 of the revenue ranking of pharmaceutical companies was announced
Since multinational pharmaceutical companies began to publish the semi-annual report of enterprises, it has lasted for more than a month, with the recent release of the semi-annual reports of Novo Nordisk, Amgen and other enterprises, the top 20 companies in net profit and income last year have basically been announced.
Compared with last year's revenue ranking, the overall revenue ranking of multinational pharmaceutical companies in the first half of 2021 has changed dramatically, with the largest increase in ranking Pfizer and AbbVie, and the largest decline in GSK and Sanofi; but the highest revenue in the pharmaceutical sector is not Johnson & Johnson and Roche, the top three are Pfizer, AbbVie and Novartis. From the perspective of R&D investment in the first half of the year, Roche, which invested the most amount, the fastest growth rate was Merck.
01
Pfizer: Borrow the "vaccine" East Wind and return to the top of the list
Last month, Pfizer took the lead in announcing the results of the second quarter of 2021, ranking third in the total revenue list and the top of the pharmaceutical segment with a total revenue of $33.5 billion in the first half of the year.
Due to the continuous fermentation of the new crown epidemic, sales of the new crown vaccine BNT162b2 cooperated by Pfizer and BioNTech have soared, with sales revenue reaching $7.8 billion in the second quarter alone, and cumulative sales in the first half of the year exceeding 10 billion to reach $11.3 billion, and it is expected to achieve about $33.5 billion in revenue for the whole year. It is likely to surpass Humira to become the highest-selling drug in history.
However, on August 11, the European Drug Administration suddenly said that it was currently investigating three new side effects that the Pfizer and Moderna COVID-19 vaccines could trigger, including erythema multiforme, glomerulonephritis and nephrotic syndrome. It also asked Pfizer and Moderna to provide more data.
As soon as the news came out, the anti-epidemic concept stocks generally fell sharply, Moderna fell 15.64%, the market value evaporated 28.836 billion US dollars, about 186.8 billion yuan; BioNTech fell 13.76%, the market value evaporated 13.9 billion US dollars, about 90 billion yuan; Pfizer fell 3.90%, the market value evaporated 10.5 billion US dollars, about 68 billion yuan. The three vaccine companies have evaporated a total market value of 344.8 billion yuan.
However, in terms of performance, even in addition to the revenue brought by the new crown vaccine to Pfizer in the first half of the year, the revenue of Pfizer's remaining products is also 22.2 billion US dollars, compared with last year's revenue of 19.947 billion yuan. A number of new drugs such as apixaban, piperacilli and enzaluamine have become the main growth points of Pfizer's performance in the first half of the year. Since divesting the health business in 2017 and focusing on innovative drug research and development projects, the innovative drug segment and biosimilars have grown significantly, with the latter successfully achieving revenue of $560 million in the first half of this year.
However, at the current key point of Pfizer transformation, relative to the side effects of vaccines, the existing product growth slowdown and innovative products to increase the resistance to the gradual emergence of more attention, in the current global approval of the three CDK inhibitors, Pfizer's blockbuster product Pipersili's first advantage is gradually losing, with the approval of the new CDK4/6 inhibitors, Piperelli's market share is divided is a nail in the coffin. Although the choice to step up the expansion of the piperoxilier joint indications in order to deal with such situations, there is a real need for a successor to piperoxili to win consumer confidence.
It is hoped that after experiencing this epidemic, Pfizer can promote the landing of new strategies faster and explore another blockbuster new drug.
02
AbbVie: Under the strong mergers and acquisitions, the volume of diversification has grown rapidly
Since the successful acquisition of Allergan in May last year, AbbVie has seen a huge increase in its own body volume, and with the blessing of more diversified revenue, the total revenue in the first half of 2021 was 26.969 billion US dollars, an increase of 46.61% year-on-year; the pharmaceutical sector revenue was second only to Pfizer, becoming the second largest pharmaceutical company in the world, even Novartis, Johnson & Johnson and Roche.
As far as business organizations are concerned, the immune disease business revenue is 11.864 billion US dollars, accounting for 44%, the hematology and oncology business is 3.489 billion US dollars, the neurological disease business is 2.707 billion US dollars, the medical aesthetic business is 2.575 billion US dollars, and the ophthalmic business is 1.736 billion US dollars.
In terms of products, after the completion of the acquisition, its pillar segment is still the pre-existing immune disease business, achieving revenue of 11.864 billion US dollars in the first half of 2021, while the "adalimumab" in the immunization sector has a single product revenue of 9.935 billion US dollars, accounting for 37% of the entire AbbVie revenue, which is still the king of real medicine.
In addition, the autoimmune disease IL-23 monoclonal Antibody Skyrizi (risankizumab) has been approved for 4 indications in just over a year, and sales have doubled to $1.248 billion in 2020; BTK inhibitor Imbruvaica (ibrutinib) remained stable with revenue of $2.649 billion; BCL-2 inhibitor Venclexta (Venexta) was rapidly released, +31.2% year-on-year to $840 million.
Overall, AbbVie's main line strategy is relatively simple, relying on strong cash flow, mergers and acquisitions of blue ocean industry at the same time, that is, to complete the diversification of their own business, but also to expand their own research and development lines, to create a new "medicine king". It seems to be obviously different from Novartis' strategy, but always cultivating the immune system may be AbbVie's last insistence.
03
Regeneration Yuan: Although the new crown vaccine is good, the growth of self-operated income is the focus
Last week, Regeneration Yuan announced the results of the first half of 2020, and the overall operating income was 7.667 billion US dollars, an increase of 102.83% year-on-year. Among them, the largest contributor was the new coronavirus neutralizing antibody REGEN-COV, which was developed in collaboration with Roche, with revenue reaching $2.76 billion in the second quarter alone, accounting for 54% of regeneration yuan's revenue in the quarter.
At the same time, the overall strategy of regeneration is obviously different from Pfizer and AbbVie, as a rising star in multinational pharmaceutical companies, most of its products are jointly developed with other multinational pharmaceutical companies in order to reduce the risk factors in the development of new drugs at the beginning of its establishment, and gradually rely on its strong R&D strength and technology platform in the process.
Among them, the PCSK9 monoclonal antibody Praluen, IL-4Rα monoclonal antibody Dupixent, IL-6 monoclonal antibody Kevzara and PD-1 monoclonal antibody Libtayo are all in cooperation with Sanofi. The anti-VEGF fusion protein Eylea, which partnered with Bayer, and Roche, obtained the right to sell regen-COV in the United States.
In addition, in the process of cooperative development and operation for many years, the net self-operated sales of the regenerative yuan are also increasing year by year, and the net self-operated sales of the 2021Q2 regeneration yuan in the US market are about 4.14 billion US dollars, an increase of 237.3% year-on-year; it seems that the new crown antibody has achieved this year's regeneration yuan, but in fact, the rapid growth of the revenue of self-operated products may be the real focus of its first half of the year.
At the beginning, cooperation with other large multinational pharmaceutical companies may only be a choice according to local conditions, which is the best way to meet the survival of enterprises. But now, the purpose of regeneration yuan can not only be limited to "survival", faster, higher quality development and growth may be the current demand of regeneration yuan, and gradually increasing the net income of self-operation may be the second step of the overall strategy, but also the first step to take off.
04
summary
In summary, due to space limitations, only the analysis of multinational pharmaceutical companies in the first half of the year that individuals think is more meaningful, but on the whole, the replacement of the ranking of multinational pharmaceutical companies may reflect the harmonious development atmosphere, and the private struggle (research and development direction) of larger pharmaceutical companies may be more neglected. However, perhaps it is precisely this competitive atmosphere that can promote the development and progress of the pharmaceutical industry in a fundamental sense, and can create a breakthrough listing of new drugs in recent years, and it is expected that more innovative pharmaceutical companies can appear on the list in the future and push the industry to a broader blue ocean.