When COVID-19 astounded the globe at the start of last year, the pharmaceutical sector swiftly rose to prominence. As the year 2020 came to a close, pharmaceutical companies were forced to deal with both the coronavirus and the pandemic, which disrupted production, marketing, R&D, and income.
COVID-19 is still a threat, despite the fact that new treatments and vaccines have been produced in the fight against it. To combat the pandemic, pharmaceutical and vaccine companies are stretching their supply networks and manufacturing muscles, while also searching for novel medicines and vaccinations.
Fierce Pharma has compiled a list of the top 20 pharmaceutical companies based on projected worldwide sales for 2020. Although the epidemic had a significant impact on the businesses, they were able to meet their financial projections last year, despite lockdowns and social isolation. In addition, the epidemic provided an opportunity for the industry to improve its public image.
In 2020, pharma watchers may notice some discrepancies between the top 20 ranks and those from last year, even though the world’s largest pharmaceutical businesses don’t shift much from year to year.
Because of the completion of the transaction to spin off its Upjohn division, Pfizer dropped from No. 5 to No. 8. As a result of its acquisition of Allergan, AbbVie rose three spots to fourth place overall. This year’s No. 19 business, Allergan, has dropped off the list. After acquiring Celgene, BMS climbed from No. 8 to No. 7 in the rankings.
Megamergers in the pharmaceutical business are reshaping the industry in this manner. As a result of a recently disclosed FTC programme, such agreements may face additional scrutiny in the future.
No. 20 Astellas is the sole newcomer this year. In 2020, the firm made more than $11 billion, which ranks it above the likes of Regeneron, Vertex, and Alexion in the midsize pharmaceutical industry.
And the rankings for 2021 are expected to be much more dynamic. Pfizer’s $15 billion revenue prediction for its BioNTech-partnered vaccine is just one example of the big revenue rises in store for companies with successful COVID-19 pharmaceuticals and vaccines.
Moderna, on the other hand, estimates that their COVID-19 vaccine will bring in more than $11 billion in revenue. Currently, the firm only sells one product, but if that product is a hit, it might propel the company into the top 20 by 2021.
