The Fortune 500 list has been released, compiled based on the total revenue businesses made in 2021. It demonstrates that this was a very profitable year for the pharma sector, particularly for manufacturers of Covid-19 vaccines. Moderna made its debut on the list at number 195 and Gilead had incredible growth of almost 5,000 percent up compared to 2020.
#195 Moderna
Revenue: US$18,5mn
Growth: N/A
Moderna makes its Fortune 500 debut this year, thanks to its mRNA Covid-19 vaccine which has made more than US$18 bn in sales. The company has also just begun testing possible vaccines against monkeypox in pre-clinical trials.
#140 Amgen
Revenue: US$25,9mn
Growth: -18.9 percent
Amgen has formed several strong partnerships including with AstraZeneca, to work on a drug for colorectal cancer; it has also been investing in artificial intelligence through its partnership with Owkin, particularly in the areas of cardiology, hematology and oncology. It is also regularly ranked as one of Fortune’s best 100 workplaces.
#129 Gilead Sciences
Revenue: US$27,3mn
Growth: 4,961 percent
Gilead has arguably had the best year out of all the pharmaceutical companies on the list, with an incredible increase in profits of nearly 5,000 percent. Gilead Sciences’ portfolio includes antiviral drugs for HIV/AIDS, hepatitis B, hepatitis C, influenza and Covid-19. Among them features remdesivir, an injectable used to treat hepatitis C, Ebola and more recently Covid-19.
Earlier this year Gilead Sciences along with US law enforcement, stopped a criminal network had made it possible for counterfeit HIV medication to reach patients in the US.
#122 Eli Lilly
Revenue: US$28,3mn
Growth: -9.9 percent
Eli Lilly’s overall revenue grew in 2021 despite a drop in profits. Its highly anticipated tirzepatide recently gained FDA approval leading to a rise in shares. It has also embarked on a development spree, investing more than US$3bn in manufacturing sites in the US states of Indiana and North Carolina.
#86 Abbott Laboratories
Revenue: US$43,1mn
Growth: 57.3 percent
Abbott Laboratories’ work in Covid-19 testing, conducting decentralized clinical trials and sales of medical devices have contributed to its revenue growth in 2021.
More recently, the company has become embroiled in shortages of baby formula in the US, due to a recall of powdered formula manufactured at its Michigan plant which had to be shut down.
#82 Bristol Myers Squibb
Revenue: US$42,5mn
Growth: -362.1 percent
Although Bristol Myers Squibb saw its profits decline in 2021, it has jumped an impressive 209 places on Fortune’s list, thanks to sales generated from its acquisition of Celgene, a manufacturer of cancer and immunology drugs. It also won 13 approvals in the US, European Union and Japan last year.
#71 Merck
Revenue: US$51,2mn
Growth: 84.6 percent
Merck’s oral antiviral treatment for Covid-19, molnupiravir, received emergency use authorization from the US Food and Drugs Administration (FDA) in 2021, garnering almost US$1bn in sales.
The company also registered substantial sales for its HPV vaccine Gardasil and cancer drug Keytruda.
#63 AbbVie
Revenue: US$56,2mn
Growth: 150 percent
AbbVie’s revenue grew by almost 23 percent in 2021, thanks to sales of plaque psoriasis treatment Skyrizi and rheumatoid arthritis drug Rinvoq. It is also ranked among Fortune’s 100 best places to work for in the US, thanks to its flexible working schemes, pension and profit-sharing programs.
#43 Pfizer
Revenue: US$81.3mn
Growth: 128.6 percent
Thanks to its two Covid-19 treatments – the vaccine it co-produced with BioNTech and its oral antiviral pill Paxlovid, Pfizer has jumped 34 places on this year’s list.
Its revenue has almost doubled since 2020 and its success is set to continue as the US government is purchasing a further 20 million treatment courses of Paxlovid in 2022.
#37 Johnson & Johnson
Revenue: US$93,8mn
Growth: 41.9 percent
It was a mixed year for Johnson & Johnson. While it tops the Fortune 500 list and grew by 41.9 percent in 2021, its Covid-19 vaccine struggled compared to those produced by Pfizer-BioNTech and Moderna. Additionally, the company had to pay out almost US$5bn in settlement towards states and local governments impacted by the opioid crisis.
On the flipside, Fortune also ranked the company as a Top 50 All-Star on its World's Most Admired Companies list
Quick links
- Pfizer to supply all its medicines to low-income countries for no profit
- How to use connected innovation intelligence for drug discovery and development
- Highlights from Pharma IQ Live: Pharmaceutical Manufacturing Automation 2022
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