In this article we listed the 25 biggest pharmaceutical companies in the world a year ago and then compared their market caps today. Most of the article was written a year ago and discuss what hedge funds thought about those companies at that time. The biggest loser in the list is probably Moderna (MRNA) which was riding high a year ago because of high expectations about its COVID vaccine.
The global pharmaceutical market stood at an impressive value of $1,270 billion by the end of the year 2020. Moreover, in the years between 2021 and 2028, the pharmaceutical industry is forecasted to grow by a compound annual growth rate (CAGR) of 11.34%. The most prominent players in the global pharmaceutical market are GlaxoSmithKline plc (NYSE: GSK), Merck & Co., Inc. (NYSE: MRK), Pfizer Inc. (NYSE: PFE), and Abbott Laboratories (NYSE: ABT).
Changing Trends for the Pharmaceutical Industry
As with most other lucrative industries, technological innovation has changed the face of the pharmaceutical industry in recent years. Firstly, the use of artificial intelligence helps companies with both the discovery and production of drugs. AI essentially accelerates the developmental journey of medicines, as it optimizes clinical trials and improves the process of mass production (see 11 best AI stocks to buy now). Secondly, the replacement of paper process by digital processes has minimized the chances of error and loss of data and have enhanced the operational efficiency in the industry. Moreover, the digitalization of processes ensures transparency and regulatory compliance in pharmaceutical companies. Thirdly, cloud technology has enabled pharmaceutical companies to partner with prominent stakeholders such as the government in order to secure their data as well as integrate the data of their customers, thereby enhancing its integrity.
Another groundbreaking development in the pharmaceutical industry is the eventual acceptance and use of medical marijuana. Drugs derived from marijuana are being used in the United States for pain relief, mood regulation, and vascular health, among other medical issues. Such contemporary yet revolutionary developments combined with the integration of technology in the pharmaceutical industry signify countless opportunities for pharmaceutical companies worldwide (see best marijuana stocks to buy).
Impact of the Coronavirus
The pharmaceutical industry suffered due to the coronavirus, primarily due to the supply chain issues during the pandemic. While Bayer Aktiengesellschaft (OTC: BAYRY) experienced a 4.8% rise in sales during the pandemic due to the increased demand for drugs such as aspirin, Pfizer Inc. (NYSE: PFE) reported a 12% drop in sales. Similarly, Merck & Co., Inc. (NYSE: MRK)’s sales decreased by $2.1 billion due to the drastic drop in doctor’s office visits. About Johnson & Johnson (NYSE: JNJ), Mario Gabelli commented “Johnson & Johnson has the management team and the strong balance sheet to emerge from the current crisis in a stronger position than ever before.” The comment shows that the major players in the global pharmaceutical industry were expected to recover easily from any losses that they incurred during the coronavirus pandemic.
Although the pandemic had a different effect on each pharmaceutical company, the industry suffered overall. However, the pharmaceutical industry was one of the first and fastest to recover. In fact, the pharmaceutical industry’s activity in 2021 has improved to an even higher level than in the pre-pandemic months. In the first quarter of 2021, activity levels in the industry were 14.6% higher than they were at the end of 2019.
After the vaccines had rolled out, pharmaceutical companies experienced massive success. The stock price of Pfizer Inc. (NYSE: PFE) rose by 4.9% within a day following its report about the successful development of the COVID-19 vaccine. Similarly, the shares of Moderna, Inc. (NASDAQ: MRNA) increased by a noteworthy 5% when it released news about its COVID-19 vaccine being effective against the Delta variant of the virus.
With the world adjusting to the new post-pandemic normal, people have developed hygienic habits and have become hyper-aware of their health. Consequently, healthcare and pharmaceutical companies are one of the fastest-growing industries presently. Even as the rollout of COVID-19 vaccines gradually ensures that the entire human race is protected against the virus, people will remain especially conscious about their health for years to come. This change in the collective perspective of humanity ensures that the pharmaceutical industry would thrive in the coming years.
Nestor Rizhniak/Shutterstock.com
With this context in mind, let’s now discuss the 25 biggest pharmaceutical companies in the world. We rank the companies based on their market capitalization.
25 Biggest Pharmaceutical Companies in the World
25. Teva Pharmaceutical Industries Limited (NYSE: TEVA)
Market Capitalization as of September 11, 2021: $10.3 billion
Market Capitalization as of September 02, 2022: $10 billion
Teva Pharmaceutical Industries Limited (NYSE: TEVA) is the 25th on the list of 25 biggest pharmaceutical companies in the world. Teva Pharmaceutical Industries Limited (NYSE: TEVA) is an Israel-based company that is known for drugs developed especially for treating respiratory diseases, migraine, neurodegenerative diseases, headache, movement disorders, and oncology. Teva Pharmaceutical Industries Limited (NYSE: TEVA) focuses on providing access to quality medicines for the general public to manage their diseases and improve their general health.
In the said letter, Miller Value Partners highlighted a few stocks and Teva Pharmaceutical Industries Ltd (NYSE: TEVA) is one of them. Here is what the fund said:
“Teva Pharmaceuticals (TEVA) declined 26.9% during the quarter as the market continues to be concerned on opioid liabilities as well as price fixing lawsuits. The company report 2Q results with total revenue of $3.87B below consensus of $4.024B, but reiterated 2020 company guidance of $16.6-17B (consensus of $17.041B). The company reported 2Q Adjusted EBITDA of $1.108B versus $1.099B expected and reiterated 2020 Adjusted EBITDA of $4.5-4.9B ($4.637B consensus) and adjusted EPS of $2.30-2.55 ($2.53 consensus) and Free Cash Flow of $1.8-2.2B. The company was hit after the US Department of Justice alleged in a lawsuit that TEVA provided illegal copays from 2006-2015 on a drug to treat MS. The allegation is $300mm of false claims which TEVA would be liable for 3x that in potential damages if they were to lose in court.”
24. Viatris Inc. (NASDAQ: VTRS)
Market Capitalization as of September 11, 2021: $16.7 billion
Market Capitalization as of September 02, 2022: $11.5 billion
Viatris Inc. (NASDAQ: VTRS) is a global health care company that aims to empower people from all over the world to live healthy lives in all circumstances. Viatris Inc. (NASDAQ: VTRS) makes healthcare accessible for people by offering them innovative medicines and advanced tools. Viatris Inc. (NASDAQ: VTRS) is committed to making the future sustainable and healthy for all the communities out there.
In its Q1 2021 investor letter, Mittleman Brothers highlighted a few stocks and Viatris Inc (NASDAQ: VTRS) is one of them. Here is what the fund said:
“Our other new position in Q1 (in addition to AMA Group) is Viatris (VTRS), which is the old stock of the generic drug manufacturer Mylan Labs after it merged with Pfizers’s Upjohn unit late last year, via a tax-efficient Reverse Morris Trust. VTRS’s current market capitalization of ~$17B is less than 6x its estimated FCF of $3B (before restructuring costs) estimated for 2022, and the current enterprise value of $40B is only 6.4x EBITDA of $6.25B. Consider that Mylan Labs stock (MYL, predecessor to VTRS) was nearly $67/share on a $40B buy-out offer from Teva in 2015. Mylan rejected that seemingly very reasonable bid. In merging with Pfizer’s spin-off of Upjohn, Viatris became an equal (in sales, about $17B for each company) to the largest player in generic pharmaceuticals globally, Teva, Mylan’s former suitor. Viatris is an orphan, but its pedigree is tarnished (the reputation of Mylan’s management in rejecting the Teva bid, and other mistakes, still lingers), even though the new CEO and CFO come from Pfizer, the Chairman and President from Mylan remain. Also, ETFs that owned Pfizer had to sell the VTRS shares that they received, which added considerable forced selling.”
23. Fresenius Medical Care AG & Co. KGaA (NYSE: FMS)
Market Capitalization as of September 11, 2021: $21.4 billion
Market Capitalization as of September 02, 2022: $9.9 billion
Fresenius Medical Care AG & Co. KGaA (NYSE: FMS) is one of the top-rated pharmaceutical companies in the world that serves patients with chronic kidney failure and provides dialysis products like dialyzers, hemodialysis machines, and other disposable products. People at Fresenius Medical Care AG & Co. KGaA (NYSE: FMS) continuously strive to provide a healthy environment for kidney patients by inventing some unique products of high quality. The company is the 23rd of the 25 biggest pharmaceutical companies in the world.
Artisan Partners, in its Q1 2021 investor letter, mentioned Fresenius Medical Care AG & Co. KGaA (NYSE: FMS). Here is what the fund said:
“Fresenius Medical Care is the world’s largest provider of kidney dialysis services and equipment. During the quarter, the company announced a significant decline in earnings. Unfortunately, the mortality rate of the company’s patient population surged at the end of the year due to the spike in COVID cases. Though our estimate of intrinsic value declined modestly, we expect the cohort of customers receiving services to rebound over the next two years, leaving the share price at an attractive valuation.”
22. Astellas Pharma Inc. (OTC: ALPMY)
Market Capitalization as of September 11, 2021: $31.8 billion
Market Capitalization as of September 02, 2022: $26.3 billion
Astellas Pharma Inc. (TYO: 4503) is a Tokyo-based company that has been serving patients with cardiovascular diseases, cancer, liver diseases, kidney diseases, and other infectious diseases from all over the world. Astellas Pharma Inc. (TYO: 4503) believes in turning innovative science into value for patients. The company aims to create a positive change through its innovative discoveries to benefit people all around the globe. Astellas Pharma Inc. (TYO: 4503) is hence the first on the list of the 25 biggest pharmaceutical companies in the world.
21. Biogen Inc. (NASDAQ: BIIB)
Market Capitalization as of September 11, 2021: $44.7 billion
Market Capitalization as of September 02, 2022: $28.4 billion
Biogen Inc. (NASDAQ: BIIB) has established its name in the field of neurology and treats people with serious neurodegenerative diseases. Patients of multiple sclerosis and spinal muscular atrophy from all over the world benefit from the innovative medicines of Biogen Inc. (NASDAQ: BIIB). People at Biogen Inc. (NASDAQ: BIIB) are committed to defeating life-threatening neurological diseases through their scientific research and discoveries. The company is 20th on our list of 25 biggest pharmaceutical companies in the world.
In the Q2 2021 investor letter of Longleaf Partners Global Fund, the fund mentioned Biogen Inc. (NASDAQ: BIIB). Here is what the fund said:
“Biogen (52%, 1.24%), a biotechnology company specializing in therapies for the treatment of neurological diseases, contributed in a way that warrants a longer than usual writeup. When we first began buying the company in early January, the stock scored well on all three Business, People and Price criteria, but the range of outcomes was wider than most investments for us. On the business, while the company has had a leading position in neuroscience for decades, it had become a collection of assets that was hard for the stock market to value. This led to most short-term investors focusing on year-over-year (YOY) earnings declines in 2021 and pipeline uncertainty. We focused most on strong cash flows from Biogen’s Multiple Sclerosis franchise, a growing yet hidden biosimilars business, and a pipeline that we believed was actually quite interesting and diversified beyond the manic market focus on Aducanumab, a proposed treatment for Alzheimer’s. On the people front, we also liked what the board and management had been doing (large, discounted repurchases and prudent internal and external investments) and not doing (no big, dumb M&A or unsustainable dividends). Our single point appraisal was around $375/share, but we saw a range at the low end of slightly above $250 if the pipeline totally failed or approaching $500 if the company saw a reasonable amount of pipeline success. We also thought that we were effectively paying a very low double-digit multiple of FCF/share. It is important to note that we were not betting on our science expertise or any other predictions that fall outside our circle of competence. Rather, we used our bottom-up appraisal skills to find a security that was mispriced at that given moment – we had followed the company for over 10 years before our purchase – and that shorter-term investors were afraid to own due to the potential for near-term stock price volatility. We started with a partial position, as we felt the wider-than-usual range of outcomes and uncertainty around the stock could lead to the chance to fill it out at a better price later.
On June 7, the FDA approved Aducanumab (now known as Aduhelm) after a contentious process that has yet to fully play out. The stock shot upward, and our single point value increased to $425. With the stock trading at that level, we exercised our price discipline and sold our position. In this era of “multi-decade-compounders at any price” and given SAM’s history of being long term, it feels weird to be in and out of something so quickly. But it also feels OK to be able to use our appraisal skills to secure a payoff for our long-term clients. The company’s stock price has fallen since our sale, and we will continue to watch the price-to-value (P/V) gap going forward.”
20. Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX)
Market Capitalization as of September 11, 2021: $48.9 billion
Market Capitalization as of September 02, 2022: $72.1 billion
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) is a USA-based company that has been unraveling the cause of cystic fibrosis. The main focus of Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) is on conducting clinical research on chronic diseases such as alpha1 antitrypsin deficiency and other serious kidney diseases. The company’s pipeline is also being expanded for sickle cell diseases, type 1 diabetes, and beta-thalassemia.
ClearBridge Investments, in its Q1 2021 investor letter, mentioned Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX). Here is what the fund said:
“While equity participation has been broadening, not all sectors and industries have benefited. Health care, which represents the Strategy’s second largest overweight, has lagged in recent months but we believe positive vaccine development and upcoming clinical news for other therapeutics will eventually lead to greater recognition by investors. Vertex Pharmaceuticals, continues to expand its cystic fibrosis franchise globally while advancing multiple underappreciated pipeline assets.”
19. Bayer Aktiengesellschaft (OTC: BAYRY)
Market Capitalization as of September 11, 2021: $53.2 billion
Market Capitalization as of September 02, 2022: $50.3 billion
Bayer Aktiengesellschaft (OTC: BAYRY) is one of the few companies that is not only concerned for humans but also plants and animals equally. Due to this reason, Bayer Aktiengesellschaft (OTC: BAYRY) stands out from its competitors. At Bayer Aktiengesellschaft (OTC: BAYRY), people are fully committed to inventing new ways for creating a sustainable future where plants, animals, and humans are given a safe and healthy environment.
18. Takeda Pharmaceutical Company Limited (NYSE: TAK)
Market Capitalization as of September 11, 2021: $53.3 billion
Market Capitalization as of September 02, 2022: $42.8 billion
Takeda Pharmaceutical Company Limited (NYSE: TAK) is a patient-focused biopharmaceutical company that has been establishing new ways for providing a better health environment to all patients for almost 240 years. Thousands of cancer patients from all around the world benefit from the innovative medicines produced by the company. Moreover, Takeda Pharmaceutical Company Limited (NYSE: TAK) is continuously striving to develop superior medicines through their discoveries.
17. Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN)
Market Capitalization as of September 11, 2021: $69.6 billion
Market Capitalization as of September 02, 2022: $63.3 billion
For almost 30 years, Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) has established an objective of using the medium of science in order to create innovative medicines for patients all around the world. Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) develop medicines for patients with life-threatening diseases such as eye diseases, inflammatory diseases, cardiovascular diseases, hematologic diseases, and cancer. Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) is the 18th on the list of 25 biggest pharmaceutical companies in the world.
Polen Focus Growth Fund, in its Q1 2021 investor letter, mentioned Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN). Here is what the fund said:
“We eliminated our position in Regeneron Pharmaceuticals also to help fund the Amazon addition. Regeneron’s revenue and earnings continue to grow roughly in line with our expectations. We believe Regeneron has a differentiated R&D model that has allowed it to bring novel biologic therapies to market in several therapeutic areas. That said, we believe Regeneron has intermediate-term risks that make a continued holding more difficult, particularly considering the recent opportunities we have seen for the Portfolio.
The company’s largest drug, Eylea, may face increasing competition as new competitive therapies have been approved, albeit without Eylea’s advantaged safety profile. In addition, the end of Eylea’s patent life coincides with a period when the U.S. government is seeking avenues to lower the reimbursement for certain drugs like Eylea. We believe Regeneron has many opportunities for continued growth in the coming years, and the competitive advantages from its proprietary drug development process remain intact. However, we feel the investment opportunity in Amazon was a better use of capital.”
16. Gilead Sciences, Inc. (NASDAQ: GILD)
Market Capitalization as of September 11, 2021: $89 billion
Market Capitalization as of September 02, 2022: $80 billion
In an attempt to develop cures for life-threatening diseases, Gilead Sciences, Inc. (NASDAQ: GILD) introducing innovative, game-changing medicines. Gilead Sciences, Inc. (NASDAQ: GILD) demonstrates concern and respect for patients from all around the world for almost 30 years. The current focus of Gilead Sciences, Inc. (NASDAQ: GILD) is on the treatment of inflammatory diseases, HIV, oncology, and many other emerging viruses.
15. GlaxoSmithKline plc (NYSE: GSK)
Market Capitalization as of September 11, 2021: $100 billion
Market Capitalization as of September 02, 2022: $65.7 billion
GlaxoSmithKline plc (NYSE: GSK) is a global healthcare company that strives to make an environment where people can live long and healthy lives. There are various medicines, vaccines, and health care products that are being manufactured by GlaxoSmithKline plc (NYSE: GSK) and are being sold worldwide. Using the medicines improves the quality of life of the users, thus fulfilling the sole purpose of GlaxoSmithKline plc (NYSE: GSK).
14. Amgen Inc. (NASDAQ: AMGN)
Market Capitalization as of September 11, 2021: $121.4 billion
Market Capitalization as of September 02, 2022: $129.7 billion
Amgen Inc. (NASDAQ: AMGN) is a US-based company that aims to treat patients that deal with challenging diseases by incorporating innovative discoveries and ideas into medicines. As Amgen Inc. (NASDAQ: AMGN) is a biotechnology company, it uses human genetics underlying the basic principles of human biology to disentangle the complexities of diseases in a much better way.
Distillate Capital, in its Q4 2020 investor letter said that they are optimistic in Amgen Inc. (NASDAQ: AMGN). Here is what the fund said:
“One of the biggest additions to the portfolio in the rebalance was Amgen Inc. The company underperformed the S&P 500 Index last quarter even though its free cash flow estimates increased. Because the portfolio’s weighting methodology is linked to free cash flow, position sizes increased to reflect improving fundamentals relative to prices, and the more attractive valuations that result.”
13. Sanofi (NASDAQ: SNY)
Market Capitalization as of September 11, 2021: $121.5 billion
Market Capitalization as of September 02, 2022: $100.2 billion
In this era where poor people are being neglected in so many ways, Sanofi (NASDAQ: SNY) singularly makes sure to provide healthcare opportunities to the world’s poorest people. Sanofi (NASDAQ: SNY) provides its services in treating childhood cancer, polio, sleeping sickness, and many other infectious diseases. In this way, Sanofi (NASDAQ: SNY) aims to create a healthier environment worldwide. The company is 15th on the list of 25 biggest pharmaceutical companies in the world.
Artisan Partners Limited Partnership, in its Q4 2020 investor letter, mentioned Sanofi (NASDAQ: SNY). Here is what the fund said:
“Top detractors in Q4 included Sanofi. This defensive security was out of favor as vaccine distribution started in earnest and the market shifted focus to a post-COVID world. Sanofi performed about in line with other global pharmaceuticals companies. We believe Sanofi’s management team will have success improving the pipeline and managing costs through restructuring. For perspective, Swedish Match was down ~4% in the quarter but provided a 54% total return for 2020.”
12. Bristol-Myers Squibb Company (NYSE: BMY)
Market Capitalization as of September 11, 2021: $140.3 billion
Market Capitalization as of September 02, 2022: $146.5 billion
Bristol-Myers Squibb Company (NYSE: BMY) is the 13th on the list of the 25 biggest pharmaceutical companies in the world. With the help of new scientific platforms, the employees of Bristol-Myers Squibb Company (NYSE: BMY) are committed to providing innovative solutions to cure life-threatening diseases. Bristol-Myers Squibb Company (NYSE: BMY) is motivated to make a difference by creating a positive difference in the lives of people all over the world. Moreover, Bristol-Myers Squibb Company (NYSE: BMY) supports several community-based programs in order to raise awareness about cancer among high-risk populations.
11. AstraZeneca PLC (NASDAQ: AZN)
Market Capitalization as of September 11, 2021: $175.2 billion
Market Capitalization as of September 02, 2022: $190 billion
The major goal of AstraZeneca PLC (NASDAQ: AZN) is to develop and commercialize innovative medicines in the field of oncology, cardiovascular medicine, immunology, and metabolism. AstraZeneca PLC (NASDAQ: AZN) not only discusses various healthcare challenges that are being faced by lots of people in recent times but also tries to cure them. In this way, AstraZeneca PLC (NASDAQ: AZN) is changing the lives of billions of people from all over the world.
10. Moderna, Inc. (NASDAQ: MRNA)
Market Capitalization as of September 11, 2021: $181.4 billion
Market Capitalization as of September 02, 2022: $54.2 billion
Moderna, Inc. (NASDAQ: MRNA) is based in the state of Massachusetts and focuses majorly on developing vaccines based on messenger RNA or mRNA. Until now, the only product that Moderna, Inc. (NASDAQ: MRNA) has commercialized is its vaccine against the COVID-19, which, along with the vaccine by Pfizer Inc. (NYSE: PFE), has become one of the most popular coronavirus vaccines worldwide.
In the Q2 2021 investor letter of Baillie Gifford, the fund mentioned Moderna, Inc. (NASDAQ: MRNA). Here is what the fund said:
“Among the top contributors to Fund performance in the second quarter was Moderna. Moderna has just reported its first profitable quarter in the company’s history – net income for the most recent quarter was $1.2 billion. It reported revenue of $1.9 billion, an impressive increase compared to $8 million a year ago, driven by the sales of its Covid-19 vaccine. Moderna is expecting to deliver up to 1 billion vaccine doses in 2021 and is in discussions to increase global supply to governments around the world. Our long-term focus remains on the transformational potential of Moderna’s technology and its ability to address different diseases.”
9. Merck & Co., Inc. (NYSE: MRK)
Market Capitalization as of September 11, 2021: $185.9 billion
Market Capitalization as of September 02, 2022: $218.4 billion
Merck & Co., Inc. (NYSE: MRK) stands out from the rest of the pharmaceutical companies as it not only cures diseases for humans but provides cures for animals too. Merck & Co., Inc. (NYSE: MRK) covers a wide range of diseases such as HIV, Ebola, cancer, and many other diseases that have emerged over the past few years. Merck & Co., Inc. (NYSE: MRK) is the 10th on the list of the 25 biggest pharmaceutical companies in the world.
8. AbbVie Inc. (NYSE: ABBV)
Market Capitalization as of September 11, 2021: $188.5 billion
Market Capitalization as of September 02, 2022: $241 billion
People at AbbVie Inc. (NYSE: ABBV) creates and distributes a range of 113 different medicines and operates in 70 countries around the world. The company was initiated in 2013 and presently boasts a team of 48,000 employees worldwide. Moreover, AbbVie Inc. (NYSE: ABBV) shares its legacy with Abbott Laboratories (NYSE: ABT). AbbVie Inc. (NYSE: ABBV)’s blockbuster drug Humira (Adalimumab) is popular worldwide for its use against the inflammatory process for people who suffer from Crohn’s disease. The company is ranked 9th on the list of 25 biggest pharmaceutical companies in the world.
7. Novartis AG (NYSE: NVS)
Market Capitalization as of September 11, 2021: $191.9 billion
Market Capitalization as of September 02, 2022: $173.7 billion
Novartis AG (NYSE: NVS) covers 3 broad areas: eye care under the name of Alcon, generic drugs as Sandoz, and pharmaceuticals as Novartis. The company developed the Novartis Institutes for BioMedical Research (NIBR) with its headquarters in Massachusetts, United States. In the research institutes within the NIBR, Novartis AG (NYSE: NVS) focuses on developing cures for diseases that are prevalent in the developing world, such as tuberculosis, dengue, malaria, typhoid fever, and shigella.
6. Abbott Laboratories (NYSE: ABT)
Market Capitalization as of September 11, 2021: $228.3 billion
Market Capitalization as of September 02, 2022: $179.5 billion
Abbott Laboratories (NYSE: ABT) ranks 7th on the list of the 25 biggest pharmaceutical companies in the world. The main objective of Abbott Laboratories (NYSE: ABT) is to create health technologies that can cause a life-changing impact on patients dealing with serious illnesses. Abbott Laboratories (NYSE: ABT) develops a wide range of products from catheters and pacemakers to baby formula and nutrition bars. The products manufactured by Abbott Laboratories (NYSE: ABT) are categorized into the segments of cardiovascular, diabetes, diagnostics, neuromodulation, nutrition, and medicines.
Polen Global Growth Fund, in its Q1 2021 investor letter, mentioned Abbott Laboratories (NYSE: ABT). Here is what the fund said:
“Abbott Laboratories developed and commercialized multiple COVID tests during 2020, delivering a double-digit performance in what could have otherwise been a very challenging year. Management expects earnings per share to grow more than 30% in 2021. We believe it is poised to sustainably deliver double-digit earnings per share growth even as COVID testing sales decline from an expected $6.5-7.5 billion in the fiscal year 2021 to potentially as low as $300-$500 million several years from now.
We have always been believers in Abbott management’s capital allocation prowess, and we think they continue to invest prudently…” (Click here to see the full text)
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Disclosure: None. 25 Biggest Pharmaceutical Stocks in the World is originally published at Insider Monkey.
