There are so many flourishing pharmaceutical companies in the United States. The pharmaceutical industry in the United States is thriving so well that the North American nation alone accounts for almost half of the pharmaceutical market globally.
Only four years ago (2016), pharmaceutical companies in the US generated more than $440 billion total in revenue. In 2019, five out of the 10 top pharma companies in the world by revenue are in the US. The pharmaceutical industry will witness more acquisitions and mergers as competition heats up, which is normal in the business world. However, the industry is right on track for continued growth.
Here’s a list of the top 10 US pharmaceutical companies:
Note: This list is based on the revenue generated in the first three quarters of 2020. An updated version of this article will be published when the financial report of the fourth quarter is released.
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1. Johnson & Johnson
Founded in 1886, Johnson & Johnson develops pharmaceuticals, medical devices, and also consumer packaged goods. This American multinational company is currently headquartered in New Brunswick, New Jersey, USA, and operates over 250 subsidiaries in over 60 countries, with more than 132,000 employees as at 2020.
Since 2012, Johnson & Johnson has held its number 1 ranking in sales among the top biotech companies. The company generated $82.059 billion in revenue in 2019. On April 14, 2020, Johnson & Johnson announced first-quarter revenue of $20.7 billion reflecting strong growth of 3.3%. The company in the second and third quarter of 2020 generated $18.3 Billion and $21.1 billion respectively. The second-quarter revenue decreased by 10.8 % – this reflects the impact of COVID-19. Johnson & Johnson’s 1.7% increase in the third-quarter financial report for 2020 reflects the strength of the company’s business model, the quality and breadth of their portfolio, and the company’s relentless drive toward innovation,
Johnson & Johnson in the first, second, and third quarter of 2020 generated $60.1 Billion in revenue.
2. Pfizer Inc.
Pfizer is an American multinational pharmaceutical corporation headquartered in New York City. The company is one of the world’s largest pharmaceutical companies and operates through two divisions: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH) business segments. Pfizer manufactures and develops vaccines and medications for a wide range of medical disciplines, including immunology, cardiology, endocrinology, and neurology.
In 2019, Pfizer brought in annual revenues of $51.8 billion and has been the second-ranked pharmaceutical company by revenue for the past 4 years in the US, behind Johnson & Johnson. Pfizer’s first-quarter 2020 revenues of $12.0 billion and second quarter 2020 revenues of $11.8 billion reflected operational decline of 7% and 9% respectively. The company’s third-quarter 2020 revenues of $12.1 billion included an estimated unfavorable impact of approximately $500 million, or 4%, due to COVID-19, primarily driven by lower demand for certain products in China and unfavorable disruptions to wellness visits for patients in the U.S., which negatively impacted prescribing patterns for certain products, partially offset by increased adult uptake for Prevenar 13 in certain international markets resulting from greater vaccine awareness for respiratory illnesses, as well as the recovery of a portion of the missed doses of Prevnar 13 in the U.S. from second-quarter 2020.
Pfizer’s revenue from first-quarter 2020 to third-quarter 2020 totaled $35.9 billion.
3. Merck & Co.
Founded in 1891, Merck & Co. is presently one of the biggest pharmaceutical companies in the world. This leading American multinational pharmaceutical company is headquartered in Kenilworth, New Jersey, and is known for its drugs and therapies for autoimmune disorders, hypercholesterolemia, type 2 diabetes, cancer, and other diseases and medical conditions as well as animal health products.
Merck in 2019 generated annual revenue of 46.8 billion U.S dollars. In 2020, the company announced first-quarter 2020 sales of $12.1 billion worldwide – an increase of 11%. This was followed by a second-quarter worldwide sales of $10.9 billion and a third-quarter 2020 worldwide sales of $12.6 Billion. The second-quarter worldwide sales decreased by 8% compared with the second quarter of 2019 – reflecting the negative impact of COVID-19. The third-quarter 2020 worldwide sales showed an increase of 1%.
Merck revenue from first-quarter 2020 to third-quarter 2020 totaled $35.6 billion. The company anticipates a full-year 2020 revenue range to be between $47.6 billion and $48.6 billion, including a negative impact from foreign exchange of approximately 1.5%.
Read Also: Top 10 Pharmaceutical Companies in the World
4. AbbVie Inc.
AbbVie is an American publicly-traded biopharmaceutical company, which was founded in 2013 in Lake Bluff, Illinois, USA as a spin-off of Abbott Laboratories. This company develops, produces, and markets biopharmaceutical and small molecule drugs.
AbbVie Inc. in 2019 generated revenue of $33.27 billion. In the first quarter of 2020, the company generated $8.619 billion, an increase of 10.1% on a reported basis, or 10.7% operationally, including a 240 basis point stocking benefit related to the COVID-19 pandemic. The second-quarter 2020 revenue of $10.425 billion and third-quarter 2020 revenue of $12.902 billion reflected an increase of 26.3% on a reported basis, inclusive of a partial quarter of Allergan and COVID-19 pandemic impact and a 52.16% increase year-over-year respectively.
Abbvie in the first three quarters of 2020 generated $31.95 billion in revenue.
5. Bristol Myers Squibb
Bristol Myers Squibb, headquartered in New York City, is a global biopharmaceutical company committed to improving the lives of patients worldwide by delivering truly innovative medicines that help patients prevail over serious diseases. Bristol Myers Squibb manufactures prescription pharmaceuticals and biologics in several therapeutic areas, including cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis, and psychiatric disorders.
In 2019, Bristol Myers Squibb generated $26.15 billion in revenue. Bristol Myers Squibb reported a strong first-quarter 2020 of $10.8 billion. The second quarter 2020 revenues of $10.1 billion reflected 61% increase on a reported basis, or 63% when adjusted for foreign exchange. The increase was driven primarily by the impact of the Celgene acquisition, which was completed on November 20, 2019. Bristol Myers Squibb in the third quarter of 2020 generated $10.5 billion in revenue.
Bristol Myers Squibb revenue for the first three quarters of 2020 was $31.4 billion.
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