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Aug 25, 2021
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Pharmaceutical companies play a vital part in our lives and in helping us to live healthier lives. The pharmaceutical industry finds, develops, manufactures, and promotes medicines or pharmaceutical drugs for usage as medications that are administered (or self-administered) to patients in order to cure, vaccinate, or relieve symptoms. Pharmaceutical companies may deal in both generic and brand-name drugs as well as medical devices. They are governed by a number of rules and regulations that govern drug patenting, testing, safety, efficacy, and marketing.
The global healthcare spending in 2020 was USD 8.3 trillion and it is expected to increase to USD 8.8 trillion in 2021. Whereas the cost of drug development is rising by 10% every year, this is because pharmaceutical drugs are in such high demand all across the world that even during a recession, the pharmaceutical industry remains unaffected. There are a plethora of successful pharmaceutical firms across the globe. Let’s take a look at the most prominent pharmaceutical firms globally by revenue in 2020.
Johnson & Johnson (J&J) is an American pharmaceutical company founded in 1886. Johnson and Johnson’s headquarter is in New Brunswick, New Jersey, and the consumer division is in Skillman, New Jersey. The company offers a variety of products under the three major business divisions i.e. Pharmaceutical, Medical Devices, and Consumer Health. The key focus areas under the pharmaceuticals are Immunology, Infectious Diseases, Neuroscience, Oncology, Cardiovascular and Metabolism, and Pulmonary Hypertension. The J&J key focus areas in medical devices include Orthopaedic, Surgery, Interventional Solutions (cardiovascular and neurovascular), and Eye Health. While for consumer health, the company focuses on Skin health/beauty, over-the-counter medicines, baby care, oral care, women’s health, and wound care.
Johnson & Johnson is one of the most profitable firms in the world. It generated a whopping revenue of USD 82.5 billion in the year 2020 and spent USD 12.2 billion in R&D. The Pharmaceutical division generated the highest revenue of USD 45.6 billion in 2020, followed by the Medical Devices (USD 23 billion) and Consumer Health (USD 14.1 billion).
The major sectors that contributed the most to Johnson and Johnson and generated the highest revenue in 2020 amongst all were Immunology (USD 15 billion) and Oncology (USD 12.3 billion), contributing 18% and 15% respectively to the total revenue. Apart from these, the other sectors that generated revenue for J&J in pharmaceuticals were Neuroscience (USD 6.5 billion), Infectious Disease (USD 3.5 billion), Cardiovascular and Metabolism (USD 4.8 billion), and Pulmonary Hypertension (USD 3.1 billion).
In Medical Devices, Surgery (USD 8 billion) was the primary contributing sector, followed by Orthopedics (USD 7.7 billion), Vision (USD 3.9 billion), and Interventional Solutions (USD 3 billion). From consumer health, Johnson and Johnson generated the highest revenue from Over-the-Counter medicines (USD 4.8 billion) followed by Skin Health (USD 4.4 billion), Oral Care (USD 1.6 billion), Baby Care (USD 1.5 billion), Women’s Health (USD 0.9 billion), and Wound Care (USD 0.7 billion).
Johnson and Johnson manufactures a variety of drugs to treat several indications. Among all of these drugs, Stelara (Ustekinumab), approved to treat Crohn’s Disease, Ulcerative Colitis, Plaque Psoriasis, and Psoriatic Arthritis, generated the highest revenue of approximately USD 7.7 billion, making up 9.3% revenue share of the drug in 2020. The second blockbuster J&J drug that made a profit of USD 4.2 billion was DARZALEX (Daratumumab), used to treat patients with multiple myeloma. The other J&J drugs that generated a good revenue in 2020 were Imbruvica (Ibrutinib) (USD 4.1 billion) used for Chronic lymphocytic leukemia, small lymphocytic lymphoma, and others, Remicade (Infliximab) (USD 3.7 billion) used for Crohn’s Disease, Ulcerative Colitis, Plaque Psoriasis, Psoriatic Arthritis, and others, and Zytiga (Abiraterone acetate) (USD 2.4 billion) used to treat metastatic castration-resistant prostate cancer.
Johnson and Johnson are evaluating a variety of drugs for several indications that may soon join the respective market in the upcoming years. There are several J&J drugs that are in the pipeline for potential US/EU approvals for different indications, and around 4 drugs got the EU approval, 1 got the US approval while Imbruvica (for frontline CLL combo with Rituximab) got both EU and US approvals.
There are around 8 drugs also which are in planned submission for the US/EU, including Ciltacabtagene Autoleucei (BCMA CAR-T) for multiple myeloma and Amivantamab (EGFR/cMET) for Non-Small Cell Lung Cancer. Apart from these, Xarelto (for PAD) and Darzalex (for Amyloidosis and Refractory Multiple Myeloma) are in Phase III of clinical trials, while Tremfya (for Crohn’s Disease), Seltorexant (for insomnia), and Ciltacabtagene Autoleucei (BCMA CAR-T) (for multiple myeloma) are in Phase II of development.
F. Hoffmann-La Roche AG is a Swiss multinational pharmaceutical and diagnostics firm with operations all over the world. The company is located in Basil and was founded in 1896. Roche is the world’s leading pharmaceutical company in cancer care. The company works under its two main business divisions- Pharmaceuticals and Diagnostics. The key areas of focus in pharmaceuticals include Immunology, Infectious Diseases, Neuroscience, Oncology, Ophthalmology, Hemophilia A, and Other therapeutic areas. While in diagnostics, the company focuses on Centralized and Point of Care Solutions, Molecular Diagnostics, Diabetes Care, and Tissue Diagnostics.
After J&J, Roche generated the highest revenue of USD 62.2 billion in 2020. Roche is the second-biggest spender on research and development, with an investment of USD 13 billion in the year 2020. Pharmaceuticals is the major division for Roche in terms of generating revenue. Around USD 44.5 billion revenue was generated by the pharmaceuticals division and the rest USD 13.7 billion was by diagnostics.
The major sectors that contributed the most to Roche and generated the highest revenue in 2020 amongst all were Oncology and Immunology. Oncology generated a massive revenue of USD 23.82 billion, while Immunology generated a revenue of USD 8.77 billion. The combined sales of the Immunology (15%) and Oncology (38%) sectors were more than 50% of the total revenue in 2020. The other sectors in pharmaceuticals that contributed to the revenue include Neuroscience (USD 5.25 billion), Infectious Disease (USD 0.86 billion), Hemophilia A (USD 2.19 billion), Ophthalmology (USD 1.4 billion), and Other therapeutic areas (USD 3.7 billion).
For the Roche Diagnostics division, the highest revenue was generated through Centralized and Point of Care Solutions (USD 7.7 billion), followed by Molecular Diagnostics (USD 4 billion), Diabetes Care (USD 1.7 billion), and Tissue Diagnostics (USD 1.1 billion).
Roche is strong in the area of pharmaceuticals for cancer care; therefore, there are several drugs that are used to treat patients with different types of cancer. AVASTIN (Bevacizumab), used to treat Metastatic Colorectal Cancer, Breast, Lung, Kidney, Cervical, and Ovarian Cancer, Relapsed Glioblastoma, and Liver Cancer, came out as the blockbuster drug for Roche in 2020 by generating the highest revenue of USD 4.9 billion and an 8.5% revenue share, which was the highest among all Roche’s drugs. OCREVUS (Ocrelizumab) used for treating multiple myeloma, was not far behind Avastin and generated a revenue share of 7.3% (USD 4.3 billion). There was a close competition between PERJETA (Pertuzumab) (for Chronic lymphocytic leukemia, small lymphocytic lymphoma, and others) and Herceptin (Trastuzumab) (for HER2 overexpressing breast and metastatic gastric cancer). They both made a sale of USD 3.8 billion and USD 3.7 billion, respectively. Rituxan (Rituximab), which is used for treating Non-Hodgkin’s Lymphoma, Chronic lymphocytic leukemia, and Rheumatoid Arthritis, generated a revenue share of 5.4% (USD 3.2 billion).
Roche received authorizations for four new medicines in 2020, and it is the only pharmaceutical company that had a record number of 19 new drugs in registrational studies or filed for approval. The new approvals include Enspryng (for Neuromyelitis Optica Spectrum Disorder), Evrysdi (for Spinal muscular atrophy), Gavreto (Metastatic RET-altered non-small cell lung cancer), and Phesgo (for Early and metastatic HER2-positive breast cancer). Apart from these, Roche has a robust pipeline in Oncology with 1 drug in the registration phase, 7 in Phase III, 3 in Phase II, and 28 in Phase I. After oncology, the Neuroscience sector has the highest number of therapies in the pipeline including 2 in the registration phase, 3 in Phase III, 5 in Phase II, and 6 in Phase I followed by the other sectors such as Inflammation/Immunology which have 2 therapies in phase III, 5 in Phase II, and 6 in Phase I, Ophthalmology has 1 therapy in the registration phase, 1 in Phase III, 4 in Phase II, and 6 in Phase I, Infectious Disease has 2 therapies in Phase III, 3 in Phase II, and 3 in Phase I, and Metabolics and others has 2 therapies in Phase II, and 2 in Phase I.
Novartis is a Switzerland-based multinational pharmaceutical company headquartered in Basel. It is among the world’s biggest pharmaceutical companies. The company was founded in 1996. Novartis operates through its two main business divisions- Innovative Medicines Division and Sandoz Division. The Innovative Medicines Division focuses on Oncology, Immunology, Hepatology, Dermatology, Ophthalmology, Neuroscience, Cardiovascular, Renal and Metabolism, and Respiratory. While the Sandoz Division deals in Retail Generics, Biopharmaceuticals, and Anti-Infectives.
The annual sale of Novartis in the year 2020 was USD 48.6 billion and it has spent around USD 8.9 billion in its R&D. Novartis is mainly dependent on its Innovative Medicines Division and as a result, 80% (USD 39 billion) of the total revenue is generated through its Innovative Medicines Division only. Sandoz Division contributed only USD 9.6 billion to the total revenue.
The major sector that contributed the most in 2020 to Novartis was Oncology. It generated a revenue of USD 14.71 billion, which was 30% of the total revenue. From the Innovative Medicines Division, the Established Medicines sector contributed USD 6.63 billion followed by the other sectors such as Immunology, Hepatology, and Dermatology (USD 4.86 billion), Ophthalmology (USD 4.41 billion), Neuroscience (USD 4.32 billion), Cardiovascular, Renal, and Metabolism (USD 2.49 billion), Respiratory (USD 1.9 billion).
Among the Sandoz Divison, the Retail Generic sector generated the highest revenue, USD 7.24 billion. The rest of the revenue was contributed by Biopharmaceuticals (USD 1.92 billion) and Anti-Infectives (USD 0.47 billion).
Novartis manufactured a variety of drugs to treat several indications. The company generated the maximum profit (USD 3.9 billion) from its drug Cosentyx (Secukinumab) that is used to treat Plaque Psoriasis, Psoriatic Arthritis, and Ankylosing Spondylitis. This Novartis drug generated around 8.2% of revenue share. Another drug that generated a revenue share of 7.61% (USD 3 billion) was GILENYA (Fingolimod) used to treat Relapsing forms of multiple sclerosis. Entresto (Sacubitril and Valsartan), the drug used for heart failure, generating a revenue share of 5.1% (USD 2.4 billion). The drugs Tasigna (Nilotinib) (for Philadelphia chromosome-positive chronic myeloid leukemia) and LUCENTIS (Ranibizumab) (for Neovascular (Wet) Age-Related Macular Degeneration, Macular Edema Following Retinal Vein Occlusion and Diabetic Macular Edema) generated approximately the same revenue i.e., 4% (USD 1.95 billion) and 3.9% (USD 1.93 billion) respectively.
Novartis is generating the highest revenue through its oncology sectors and therefore, it is focusing more on oncology. There are 12 therapies that are in pipeline in Oncology, which is the maximum as compared to any other therapeutic area. After Oncology, Cardiovascular, Renal, and Metabolism have the highest number of therapies (3) in the pipeline. Neuroscience and Immunology, Hepatology, and Dermatology sectors have 2 therapies each in the pipeline. In contrast, the sectors such as Ophthalmology, Biosimilars, and Global Health have only 1 therapy in the pipeline.
Merck & Co. was founded in 1891 and is now one of the world’s largest pharmaceutical companies. The headquarters of this American multinational pharmaceutical company is in Kenilworth, New Jersey. The company deals in its two business divisions- Pharmaceuticals and Animal Health. In the pharmaceuticals division, the company focuses on the areas such as Oncology, Vaccines, Immunology, Hospital Acute Care, Neuroscience, Cardiovascular, Virology, Diabetes, and Women’s Health. Through its animal health division, it deals in Veterinary Pharmaceuticals and Vaccines (Livestock and Companion Animal Products).
The annual sale of Merck and Company in the year 2020 was USD 47.9 billion. The corporation is the world’s biggest spender on pharmaceutical research and development among all the other pharmaceutical companies. It spent USD 13.6 billion in research and development. Approximately 90% (USD 43 billion) of the total revenue was generated from its Pharmaceutical division, whereas around USD 4.7 billion was contributed by the Animal Health division.
The major sector that contributed the most to Merck and Co. in 2020 was Oncology. The oncology sector made up to 33% (USD 15.8 billion) of the total revenue among all the other sectors. Merck and Co. generated a revenue of USD 6.9 billion through the vaccines. Diabetes contributed USD 5.2 billion followed by Hospital Acute Care (USD 2 billion), Cardiovascular (17 billion), Immunology (1.1 billion), Virology (1 billion), and Women’s Health (0.9 billion).
Merck and Co. are generating the maximum profits from the sale of its oncological drugs, and as a result, KEYTRUDA (Pembrolizumab), Merck’s drug used to treat multiple types of cancers, became the highest-grossing drug in 2020, generating approximately USD 14.3 billion, making up 29.9% revenue share of the drug. Apart from oncological drugs, Merck and Co. vaccine, GARDASIL (Human Papillomavirus quadrivalent and 9-valent Vaccine) used for Cancers in women and men caused by various Human Papillomavirus types also generated a good revenue share of 8.2% (USD 3.9 billion). The diabetic drugs also yielded a good profit amount for Merck and Co. The two diabetic drugs, Januvia (Sitagliptin) and Janumet (Sitagliptin and metformin HCl) used to treat type 2 diabetes mellitus, generated a revenue share of 6.8% (USD 3.3 billion) and 4.1% (USD 1.9 billion), respectively. Another Merck and Co. vaccine, PNEUMOVAX 23 (Pneumococcal vaccine polyvalent) used for the prevention of pneumococcal disease caused by the 23 serotypes in the vaccine, generated a revenue share of 2.2% (USD 1 billion).
Merck and Co. have a strong pipeline for oncology. Along with the drugs, Merck is also developing vaccines for various indications that are in a different phase of development. There are 23 therapies and vaccines in total that are in Phase II of clinical trials. Among these, MK-1308 (for cancer melanoma NSCLC solid tumors), MK-1454 (for cancer head and neck), MK-4280 (for hematological cancer malignancies NSCLC), MK-5890 (for cancer NSCLC), and MK-7684 (for cancer NSCLC melanoma) are being developed in combination with Keytruda. Around 8 therapies are in Phase III of clinical trials, among which MK-7902 (for cancer bladder endometrial, HNSCC melanoma, NSCLC gastric) and MK-7339 (used for cancer NSCLC, colorectal SCLC) are being developed in combination with Keytruda.
AbbVie is a biopharmaceutical company headquartered in North Chicago, Illinois, United States. AbbVie was established in 2013 as a distinct company from Abbott. AbbVie works through its only one business division i.e. Medicines and Therapies. Oncology, Immunology, Eye Care, Neuroscience, Women’s Health, Aesthetics, and others are among the key therapeutic areas in which the company focuses through its medicines and therapies division.
The total sale generated by the company in 2020 was USD 45.8 billion and invested USD 6.5 billion in the research and development.
The major sector that contributed the most to AbbVIe in 2020 was Immunology. The Immunology sector contributed 48% (USD 22.15 billion) of the total revenue. The other sector that generated the most revenue after immunology was Hematological Oncology. It generated a revenue of USD 6.65 billion. Apart from these, the other sectors that contributed to the revenue include Aesthetics (USD 2.59 billion), Neuroscience (USD 2.42 billion), Eye Care (USD 2.18 billion), and Women’s Health (USD 0.67 billion). At the same time, the other key products generated a revenue of USD 4.02 billion.
The company has been enjoying a monopoly in the market for a long time, with the best-selling drug HUMIRA under its umbrella. They are generating a massive amount of revenue from HUMIRA itself. HUMIRA (Adalimumab) is used to treat Rheumatoid Arthritis, Psoriatic Arthritis, Ankylosing Spondylitis, Crohn’s Disease, Ulcerative Coliti, and others. In the year 2020, Humira generated a revenue share of nearly around 43.3% (USD 19.8 billion), which was the highest among all the other AbbVie drugs. After Humira, the drug that the company depends on is Imbruvica (Ibrutinib) which is used to treat Chronic lymphocytic leukemia, Mantle cell lymphoma, Waldenström’s macroglobulinemia, and others. Imbruvica contributed USD 5.3 billion, around 11.5% of revenue share. Other AbbVie drugs didn’t get as much revenue as Humira and Imbruvica. MAVYRET (Glecaprevir and pibrentasvir) (for Chronic HCV genotype), Skyrizi (Risankizumab) (for plaque psoriasis), and VENCLEXTA (Venetoclax) (for Chronic lymphocytic leukemia, and Acute Myeloid Leukemia) generated nearly same amount of revenue share i.e. 0.3% (USD 1.8 billion), 0.3% (1.5 billion), and 0.2% (1.3 billion) respectively.
AbbVie has a robust pipeline, mainly in oncology and immunology. However, AbbVie is pacing up the trials of its other drug assets as the patent expiration for Humira is approaching fast. AbbVie’s immunological drug, Rinvoq (upadacitinib) is approved for the treatment of Rheumatoid Arthritis, Ankylosing Spondylitis, Psoriatic Arthritis, and Atopic Dermatitis and is in the late stages of Crohn’s Disease and Ulcerative Colitis. There are 15 drugs in the registrational/Phase III including its another important immunological drug, Skyrizi (risankizumab) which is approved for Psoriasis, but in the mid-to-late stage clinical development for Psoriatic Arthritis, Crohn’s Disease, and Ulcerative Colitis. Apart from these, there are 16 drugs that are in the phase II stage of development, and 35 are in Phase I. Among them, oncology has 26 drugs in the pipeline in both phases, followed by immunology (8), neuroscience (8), targeted investment (5), eye care (4), and aesthetics (2).
Sanofi is a global pharmaceutical company based in Paris, France. Sanofi-Synthélabo was founded in 1973 and merged with Synthélabo in 1999 to become Sanofi-Synthélabo. Sanofi-Synthélabo merged with Aventis in 2004 and was renamed Sanofi-Aventis. In May 2011, the company renamed itself Sanofi. Sanofi has three main business divisions- Pharmaceuticals, Vaccines, and Consumer Healthcare. The Pharmaceutical division of Sanofi deals in Speciality Care and General Medicines. The Sanofi’s Vaccines division focuses on Poliomyelitis, Pertussis, and Haemophilus influenza Type B (Hib) pediatric vaccines, Influenza vaccines, Adult booster vaccines, Meningitis vaccines, Travel, and endemic vaccines. The Consumer Healthcare division of Sanofi has now become a standalone commercial entity with its own manufacturing and R&D capabilities.
The total sale generated by Sanofi in the year 2020 was USD 42.5 billion and spent USD 6.5 billion in research and development. The Pharmaceuticals division of Sanofi is the main division of the company in terms of sales. It generated a revenue of USD 30.33 billion, which was the maximum as compared to the rest of the other divisions i.e, Vaccines (USD 7.05 billion) and Consumer Healthcare (USD 5.19 billion).
The major sector that contributed the most to Sanofi’s wealth in 2020 was Cardiovascular and Established Prescription Products. It contributed 27% (USD 11.82 billion) of the total revenue. The other sectors through which Sanofi able to get some revenue include Diabetes (USD 5.56 billion), Rare Disease (USD 3.55 billion), Multiple Sclerosis, Neurology, Other Inflammatory Diseases and Immunology (USD 2.82 billion), Rare Blood Disorders (USD 1.43 billion), and Oncology (USD 0.94 billion).
Sanofi produces a variety of drugs in many therapeutics areas to treat numerous diseases, but DUPIXENT (Dupilumab) came out as its main drug as the maximum revenue in 2020 was generated through its sales. Dupixent is used to treat people with Atopic Dermatitis, Asthma, Chronic Rhinosinusitis with Nasal Polyposis. It generated a revenue share of 9.8% (USD 4.2 billion) in 2020. LANTUS (Insulin glargine) injection used to treat type 1 and 2 diabetes mellitus is another Sanofi product that is not far behind Dupixent. Lantus generated a revenue share of 7.3% (USD 3.2 billion). AUBAGIO (Teriflunomide) used for relapsing forms of multiple sclerosis and Lovenox (Enoxaparin sodium) used for deep vein thrombosis, are some of Sanofi’s drugs apart from Dupixent and Lantus that generated a decent revenue. They both generated a revenue share of 5.2% (USD 2.4 billion) and 3.7% (USD 1.6 billion) respectively.
Sanofi has a strong pipeline in Oncology. There are 18 oncological therapies for several indications that are in the pipeline and are in different stages of development. Among these, 2 therapies are in the registration/phase III while 4 are in Phase II and 12 are in Phase III. Apart from oncology, therapies for Rare Blood Disorders, Immunology and Inflammation, and Rare Diseases are also in the pipeline. For Rare Blood Disorders, 6 therapies are in pipeline, 3 in registration/phase III and Phase I each. Like Rare Blood Disorders, for Immunology and Inflammation, and Rare Diseases, 6 therapies are in the pipeline with 2 in the registration/phase III, 1 in Phase II, and 3 in Phase I, and 2 in the registration/phase III, 3 in Phase II, and 1 in Phase I respectively. There are 4 therapies in the pipeline for Multiple Sclerosis Neurology, in which 1 is in the registration/phase III, 3 in Phase II, and 1 in Phase I.
Pfizer is an American multinational pharmaceutical company founded in 1849. Pfizer’s headquarters is in New York City. It is among the world’s largest pharmaceutical companies. Pfizer operates through its business division, Biopharma. Oncology, Inflammation & Immunology, Internal Medicine, Hospital, Vaccines, and Rare Disease all are the focus areas of Pfizer’s Biopharma division.
However, in 2020, the annual sale of Pfizer was the lowest among all the other pharmaceutical companies. The total revenue generated by Pfizer was USD 41.9 billion, with an investment of USD 9.4 billion in research and development.
The major sector that contributed the most to Pfizer in 2020 was Oncology. Pfizer’s Oncology sector generated a revenue of USD 10.8 billion, which was 25% of the total revenue. The other sector that gave competition to oncology was Internal Medicine. It generated a revenue of USD 9 billion. Apart from these, hospitals (USD 7.9 billion), Vaccines (USD 6.5 billion), Inflammation and Immunology (USD 4.5 billion), and Rare Diseases (USD 2.9 billion) were among the sectors that contributed to the total revenue.
Pfizer is known for manufacturing both drugs and vaccines. Pfizer’s vaccines are in demand and as a result one of its vaccine, Prevenar 13 (pneumococcal 13-valent conjugate vaccine) used for invasive diseases caused by Streptococcus pneumoniae, generated the maximum revenue from its sale during the year 2020. It generated a revenue share of 13.8% (USD 5.8 billion). IBRANCE (Palbociclib), used to treat HER2-negative advanced or metastatic breast cancer, was not far behind and generated a revenue share of 12.6% (USD 5.3 billion). Another Pfizer drug in demand was Eliquis (Apixaban), used for nonvalvular atrial fibrillation and generated a revenue share of 11.6% (USD 4.9 billion). The other two drugs that generated a revenue share of 5.7% (USD 2.4 billion) and 3.1% (USD 1.3 billion) were XELJANZ (Tofacitinib) (for rheumatoid arthritis, psoriatic arthritis, and ulcerative colitis) and Enbrel (Etanercept) (for rheumatoid arthritis, plaque psoriasis, psoriatic arthritis, and others) respectively.
Pfizer is evaluating several drug candidates to treat various indications and these therapies are expected to launch in the upcoming years and be available in the respective market soon. There are 95 therapies/vaccines in total in the pipeline. Out of these, 9 therapies/vaccines are in the registration phase, 24 are in Phase III, while 35 and 27 therapies/vaccines are in Phase II and Phase I, respectively.
The Healthcare market comprises several pharmaceutical and biotech companies; some are established goliaths while many more continue to emerge. A recent trend that follows is the emergence of several start-ups aiming to innovate the healthcare delivery system and therapy approaches. While pharma companies continue to expand with the help of collaborations and mergers, the Healthcare market also is also witnessing a large number of buyouts and spin-offs. Nevertheless, with the rising demand for effective and standard healthcare, increase in healthcare expenditure, and surging focus of global organizations towards procuring better healthcare services to the masses, pharma and biotech companies are expected to flourish and provide better therapies in the coming decade.
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