The total value wsa $3.45 trillion in Q2 2022, with that dropping to $3.14 trillion in Q3 2022, according to GlobalData.
“Regeneron Pharmaceuticals and Daiichi Sankyo witnessed the biggest growth in market capitalization over Q3 2022 with 15.6% and 10% respectively,” noted Sharon Cartic, associate director for business fundamentals databases at GlobalData.
Despite a drop in sales of COVID-19 antibody, REGEN-COV, due to ineffectiveness against the Omicron variant, Regeneron experienced record US sales of $1.63bn in Q3 from its blockbuster eye-disease drug, Eylea, said the data and analytics firm.
“Daiichi Sankyo experienced boosted sales with its partner, AstraZeneca, for cancer drug, Enhertu, after receiving FDA approval in Q3 for HER2-low metastatic breast cancer and HER2-mutant metastatic non-small lung cancer,” commented Cartic.
Out of the 20 top biopharmaceutical companies, 16 reported a drop in quarter-on-quarter (QoQ) market capitalization where eight companies saw a greater than 10% decline.
Johnson & Johnson continued its dominance by maintaining its top position, although suffering market capitalization loss of 8%, followed by Eli Lilly, Roche, and Pfizer, according to GlobalData’s Pharmaceutical Intelligence Center Companies Database.
RSV vaccine boost
Cartic continued: “GSK and Sanofi’s share prices dropped sharply by 46.4% and 24.2%, respectively, due to the increasing number of Zantac cancer lawsuits with GSK slipping down four places to 17th place. However, recovery is anticipated as the company awaits FDA approval in May 2023, after receiving priority review for its respiratory syncytial virus (RSV) vaccine.”
Declining COVID-19 vaccine sales
Moderna's market capitalization tumbled by 18.6% with Pfizer and AstraZeneca reporting a drop of 16.5% and 16.2%, respectively, as concerns that sales of their COVID-19 vaccines may start to decline soon.
Other major players indicated negative market capitalization growth of more than 10% include AbbVie (-12.3%) and Novo Nordisk (10%).
“Although AbbVie’s Humira is set to face biosimilar competition next year, the blockbuster drug reported strong US sales of $4.96bn in Q3 according to GlobalData’s Drugs Database and is expected to continue positive growth from its new immunology drugs, Skyrizi and Rinvoq,” added Cartic.
