In this article we are going to list the top 5 drug companies in the US by revenue. For a detailed coverage of this topic and a more comprehensive list please take a look at the Top 20 Drug Companies in the US by Revenue.
5. Bristol-Myers Squibb Company (NYSE:BMY)
2022 Revenue: $46.2 billion
Bristol-Myers Squibb Company (NYSE:BMY), which is ranked 5th on our list of the top drug companies in the US by revenue, focuses primarily on cancer, cardiovascular, immunology, and fibrotic therapeutic projects. It provides its products in the US, Europe, and Japan, and had 34,300 total employees in 2022—a 6.52% increase from 2021.
According to Insider Monkey’s second quarter database, 66 hedge funds were bullish on Bristol-Myers Squibb Company (NYSE:BMY) and disclosed positions worth $1.69 billion in the company.
4. AbbVie Inc. (NYSE:ABBV)
2022 Revenue: $58.1 billion
AbbVie Inc. (NYSE:ABBV), with a business presence in more than 70 countries, is considered to be among the biggest drug companies not only in the United States but also globally. It develops medicine for fighting cancers, cystic fibrosis, neurological diseases, and eye ailments.
The company sells a variety of well-known drugs, such as Humira (one of the most profitable drugs in the world), Venclexta, Imbruvica, and Skyrizi.
3. Merck & Co., Inc. (NYSE:MRK)
2022 Revenue: $59.3 billion
Merck & Co., Inc. (NYSE:MRK) is a Rahway, New Jersey-based pharmaceutical company which develops medicines, vaccines, biologic therapies, and animal health products. With sales of almost $21 billion, immunotherapy medication Keytruda was the company’s best-selling product in 2022.
According to Insider Monkey’s second quarter database, 78 hedge funds were bullish on Merck & Co., Inc. (NYSE:MRK), compared to 75 funds in the preceding quarter. Cliff Asness’ AQR Capital Management held the largest position in the company, with approximately 2.91 million shares valued at $331.84 million.
2. Johnson & Johnson (NYSE:JNJ)
2022 Revenue: $94.9 billion
Established in 1886, Johnson & Johnson is a leading pharmaceutical company not only in the United States but also globally. Stelara, used to treat plaque psoriasis, psoriatic arthritis, Crohn’s disease and ulcerative colitis, has been the company’s top-selling drug since 2019, with sales reaching $9.7 billion in 2022.
On October 17, Johnson & Johnson (NYSE:JNJ) posted earnings for the third quarter of 2023, reporting a NON-GAAP EPS of $2.66, beating market estimates by $0.14. The revenue over the period was $21.35 billion, up 6.8% compared to the revenue over the same period last year.
1. Pfizer Inc. (NYSE:PFE)
2022 Revenue: $100.3 billion
Pfizer Inc. (NYSE:PFE) tops our list of top drug companies in the US by revenue. Among its leading drugs include the COVID-19 vaccine Comirnaty, the COVID-19 oral treatment Paxlovid, and the pneumococcal vaccine Prevnar. On October 4, Pfizer Inc. (NYSE:PFE) declared a quarterly dividend of $0.41 per share, which was in line with its previous dividend.
According to Insider Monkey’s second quarter database, 73 hedge funds were bullish on Pfizer Inc. (NYSE:PFE), same as the previous quarter. Ric Dillon’s Diamond Hill Capital held a significant position in the company, with 6.9 million shares worth $253.1 million.
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