The top 20 global biopharmaceutical companies by market capitalization (MCAP) experienced a favorable Q1 2022, despite global economic and financial market uncertainty. The majority of the top 20 global biopharmaceutical companies reported a 2.1% increase in aggregate MCAP, from $3.4 trillion on 31 December 2021 to $3.5 trillion as of 31 March 2022, according to GlobalData. The leading data and analytics company noted that a positive quarter-on-quarter (QoQ) MCAP growth was reported for 14 of the top players, with four companies – Bayer (28.2%), Abbvie (19.6%), Vertex Pharmaceuticals (19.0%) and AstraZeneca (19.0%) – demonstrating more than 15% growth in their MCAP over Q1 2022.

Mariam Shwea, MPH, Analyst of Business Fundamentals at GlobalData, comments: “Bayer and Abbvie saw the biggest growth in MCAP over Q1 2022, whereas Moderna, who previously reaped success from their COVID-19 mRNA-1273 vaccine, saw the largest decrease of -32.6% in MCAP over Q1 2022.”

Shwea adds: “The majority of companies maintained their ranking in Q1 2022. Johnson&Johnson, Roche and Pfizer retained the top three spots. Pfizer however saw a 11.8% decrease in MCAP with Abbvie closing in with a MCAP increase of 19.6% over Q1 2022. BioNTech, saw MCAP growth in 2021 however did not make the top 20 list for Q1 2022.”

Johnson & Johnson maintained its top position with a MCAP QoQ growth of 3.5% to $466 billion. The limited success of their COVID-19 vaccine has led Johnson & Johnson to further diversify its pipeline with oncology therapies for multiple myeloma and leukemia with the FDA approval for Carvykti in Q1 2022, a cell therapy for relapsed or refractory multiple myeloma in adults. According to GlobalData’s Drugs Database Pharma Intelligence Center, Carvykti is set to become a blockbuster, with analyst consensus global forecast sales of $4.2 billion by 2028.

AbbVie moved to fourth position in the list with a 19.6% MCAP growth to $286 billion in Q1 2022, fueled by its 22.7% growth in revenue in 2021, and a robust pipeline with Humira topping over $20 billion sales in 2021 according to GlobalData’s Drugs Database Pharma Intelligence Center. Upcoming biosimilar competition for Humira means AbbVie’s focus may turn to their drugs Rinvoq approved in the US for atopic dermatitis, psoriatic arthritis, rheumatoid arthritis and ulcerative colitis and Skyrizi approved in the US for psoriatic arthritis and plaque psoriasis. According to GlobalData’s Drugs Database Pharma Intelligence Center, Rinvoq and Skyrizi combined are forecast to hit analyst consensus global forecast sales of over $20 billion by 2028.

Bayer’s share price increased in Q1 2022, buoyed by strong pipeline and product launches including Kerendia, a drug which received EMA approval for chronic kidney disease.

Vertex’s MCAP increased in Q1 2022 primarily due to its dominance of the cystic fibrosis (CF) therapeutic space and the EMA approval of Trifakta/Kaftrio, a triple-combination regimen for patients with CF. Japanese biopharmaceutical company, Takeda Pharmaceutical, is the new entrant in the top 20 list, with a MCAP of $45.5 billion.

AstraZeneca crossed a $200 billion MCAP value in Q1 2022 owed to its 40.6% revenue growth in 2021 and new drugs against oncology, kidney disease and rare conditions which will make up for the potential decline in sales of COVID-19 products in 2022 amid growing competition.

Moderna dropped three places to finish seventeenth, with a MCAP decline of 32.6% in Q1 2022.

Shwea adds: “Moderna’s decline in MCAP over Q1 2022 can be attributed to increasing concerns towards the sustainability of waning vaccine demand as the pandemic continues to ease. Similarly, Gilead Science’s (-18%) and Pfizer’s (-11.8%) MCAP decline in Q1 2022 is owed to decreased investor interest towards COVID-19 pandemic drugs, as the focus turns towards addressing the growing burden of non-communicable disease.”

* By MCAP