Top 10 Pharmaceutical Companies in USA to Watch Out For

April 3, 2023
10:06 AM

American consumers have access to the most advanced pharmaceutical products in the world. Have you ever wondered why? The pharmaceutical industry in the USA has substantially impacted global health, prosperity, and economic productivity. It has some of the most experienced and skillful professionals and is the driving force behind the biggest market for pharmaceutical products worldwide.

The global pandemic created several roadblocks for the industry, such as high demand for vaccination, difficulties in securing raw materials, and labor shortages. Despite the odds, the USA pharma market bounced back and now sees more investments than ever. As per Fortune Business Insights, the USA pharmaceutical industry is projected to grow from US$560.00 billion in 2021 to US$861.67 billion by 2028 at a CAGR of 6.3%.

With so many companies trying to be a part of ‘crème de la crème’ in the American pharmaceutical industry, it got us wondering, “Which are the largest pharmaceutical companies in the USA?”. Therefore, we have compiled a list of the largest pharmaceutical companies in 2023 to save you that hassle.

A Brief Overview Pharmaceutical Industry in the USA
A Brief Overview Pharmaceutical Industry in the USA

Statistics About the Pharmaceutical Industry in the USA
Statistics About the Pharmaceutical Industry in the USA

The Top 10 Pharmaceutical Companies in the USA
The Top 10 Pharmaceutical Companies in the USA

End Note
End Note

A Brief Overview Pharmaceutical Industry in the USA

Over the year, pharmaceutical companies have shown immense growth to capture a dominant share in the global pharmaceuticals marketplace. The USA contributes 45% of the global pharmaceutical market and 22% of worldwide pharmaceutical drug production. Some of the challenges the industry faces in the USA are supply chain disruptions, the need for a qualified workforce, and regulatory and pricing pressures.

Apart from these problems, the poor and middle-class families in the country do not have access to quality healthcare and pharmaceuticals. With growing demands and skyrocketing prices, the US government is discussing drug price control mechanisms for the marketplace. The top American pharmaceutical companies are now tapping into the sector of rare and specialty diseases, such as nucleic acid therapeutics, cell therapies, implantable, and bioelectronics, among others. The industry is now attracting non-pharma companies such as Facebook and Qualcomm to invest in new technology and medicines.

Statistics About the Pharmaceutical Industry in the USA

If you want to connect with any of these pharmaceutical companies, then DataCaptive will provide you with the most authentic and customized list to help your business to achieve predetermined business goals.

The Top 10 Pharmaceutical Companies in the USA

Johnson & Johnson

Founded

1886

Revenue

US$94.943 billion (2022)

Headquarters

New Brunswick, New Jersey

Johnson & Johnson was first founded in 1886 by Robert Wood Johnson. The company now has 250 subsidiaries in 60 different countries and employs more than 144,500 employees worldwide. Besides that, Johnson & Johnson is among the largest and most successful on the list of top pharma companies in the USA, as it sells its pharmaceutical products in over 175 countries. It is known for its advancements in medical technology, consumer healthcare, and pharmaceuticals. The prostate cancer medicine Erleada and the schizophrenia drugs are other growth contributors within the pharma group.

Johnson & Johnson is also known for its baby products, Neutrogena skin products, and Clean & Clear product range. Wall Street estimates the company will generate US$96.9 billion to US$97.9 billion by the end of 2023. The company is now known for its quality in pharmaceutical products, medical devices, and other consumer packaged goods like Band-Aid bandages and Acuvue contact lenses. The pharmaceutical giant is now a part of the Fortune 500 companies and one of the world’s most valuable companies in terms of revenue.

Pfizer

Founded

1849

Revenue

US$100 billion (2022)

Headquarters

New York City, USA

Pfizer was founded in 1868 by two cousins—Charles Pfizer and Charles Erhart. The company has grown to hold a high spot in the list of pharmaceutical manufacturers and operates two main divisions: Pfizer’s Innovative Health and Pfizer’s Essential Health. The company develops and manufactures medicines and vaccines for immunology, oncology, cardiology, endocrinology, and neurology. One of the main contributions of the company was the discovery of oxytetracycline which is used to treat acne or chlamydia.

Furthermore, FDA’s authorization for its COVID-19 vaccine in late 2020 propelled its revenue from US$41.651 billion in 2020 to US$81.29 billion in 2021. However, the annual revenue will decrease 30% from US$67 billion to $71 billion, as its covid vaccine and Paxlovid pill are forecasted to fall roughly 60% to US$21.5 billion in 2023.

AbbVie Inc.

Founded

2013

Revenue

US$58.054 billion (2022)

Headquarters

North Chicago, Illinois

Dr. Wallace C. Abbott founded AbbVie Inc. in 2013 as a spin-off of Abbott Laboratories. The company operates as a research-based pharmaceutical manufacturer. One of the company’s most well-known drugs is Humira, which is made for certain types of arthritis, skin disorders like psoriasis, and Crohn’s disease. The company employs over 50,000 people worldwide and provides products in over 175 countries.

Not being as old as the other companies in the pharmaceutical industry, it has grown to become one of the drug companies in the USA to develop and market numerous biopharmaceuticals. It holds one of the top positions in the list of top pharma companies in the USA by revenue, with its annual revenue for 2022 being US$58.054 billion, a 3.3% increase from 2021. In 2022, AbbVie said that its immunology, hematologic oncology, aesthetics, eye care, and neurosciences franchises have helped the company get a year-over-year sales growth of 22.6%. In a recent survey by Evaluate Pharma, AbbVie’s sales are forecasted to reach US$65.7 billion in 2028.

Merck & Co

Founded

1891

Revenue

US$59.3 billion (2022)

Headquarters

Rahway, New Jersey

Merck & Co is a multinational pharmaceutical company established in 1891 as an affiliate of the Merck Group. The company develops medicines, vaccines, biological therapies, and veterinarian medicines. It also excels in producing animal health products such as vaccines, veterinary medicine, and aquaculture.

Over the years, Merck has produced multiple successful drugs, including cancer immunotherapy, anti-diabetic medication, and vaccines for diseases such as HPV and chickenpox. Some of its best-selling drugs are Keytruda, used to treat melanoma, the HPV vaccine Gardasil, and Varivax, a vaccine used to protect against chickenpox. The company anticipates full-year 2023 revenue to be between US$57.2 billion to US$58.7 billion. Its many acquisitions, including Prognostics Poultry and Acceleron Pharma, have made it among the top American pharmaceutical companies.

Bristol-Myers Squibb

Founded

1887

Revenue

US$46.159 billion (2022)

Headquarters

New York City, USA

Two former fraternity brothers—William McLaren Bristol and John Ripley Myers, founded Bristol-Myers Squibb. It is now known for developing treatments for cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, and psychiatric disorders. The company has become one of the leading USA pharmaceutical companies due to its ownership of drugs such as Revlimid and Opdivo, medications used to treat cancers, and Eliquis, an anticoagulant.

Bristol-Myers Squibb’s annual revenue for 2022 was US$46.159 billion, a 0.49% decline from 2021. This pharmaceutical company aims to improve patient life by delivering innovative medicines to help patients prevail over serious diseases. It also constantly works towards shaping the future of cancer care in the country and improving the lives of people affected by cancer.

Abbott Laboratories

Founded

1888

Revenue

US$43.653 billion (2022)

Headquarters

Abbott Park, Illinois

This pharmaceutical giant was founded in 1888 by Wallace Calvin Abbott, a physician aspiring to formulate drugs. Today the company is known for its medical devices, nutritional products, diagnostics, and other branded generic medicines. The company now has over 115,000 employees in more than 160 countries. After its split with AbbVie in 2013, it has taken the market by storm and has earned its spot list of the largest pharmaceutical companies.

Abbott Laboratories split into two publicly traded companies as it mainly wanted to focus on the diagnostic and medical technology side. In contrast, AbbVie is more invested in the research side of the pharmaceutical industry. Among Abbott’s most well-known brands are Pedialyte, Ensure, Similac, and Glucerna. Its annual revenue for 2022 was US$43.653 billion, a 1.34% increase from 2021.

Eli Lilly and Company

Founded

1876

Revenue

US$28.541 billion (2022)

Headquarters

Indianapolis, Indiana

Colonel Eli Lilly founded this American pharmaceutical company in 1876. The company now has its headquarters in Indianapolis, Indiana, and sells its products in over 125 countries. Eli Lilly and Company was the first to mass-produce drugs like penicillin, insulin, and the Salk Polio vaccine, a boon to the healthcare industry. Its fundamental discoveries involving recombinant DNA have helped make the company what it is today. It is now sought after for its psychiatric medications, such as Prozac, Dolophine, Cymbalta, and Zyprexa.

However, its primary revenue drivers are the diabetes drugs that include Humalog and Trulicity. It has remained a part of the fortune 500 list since 2008 and gained recognition as the largest charitable benefactor in Indiana. It is now a part of many esteemed organizations, including Pharmaceutical Research and Manufacturers of America (PhRMA) and The European Federation of Pharmaceutical Industries and Associations (EFPIA). The company estimated that its revenues are expected to land between US$30.3 billion to US$30.8 billion in 2023.

Biogen

Founded

1978

Revenue

US$10.363 billion (2022)

Headquarters

Cambridge, Massachusetts

Biogen was founded by Nobel Prize winners Walter Gilbert and Phillip Sharpiogen, along with prominent biologists—Charles Weissman, Heinz Schaller, and Kenneth Murray, in 1978. The company is now among the top companies developing and delivering therapies for treating neurological and neurodegenerative diseases to patients worldwide. It has worked its way up to become one of the oldest independent biotechnology companies in the world.

Besides its efforts in neurological science, it has also developed drugs for hemophilia, Multiple Sclerosis (MS), and psoriasis. Biogen is among the first few companies that have received FDA approval for a medication like Aduhelm to treat Alzheimer’s. Some of its top-selling products include Spinraza, to treat Spinal Muscular Atrophy, and Avonex, made for patients with Multiple Sclerosis.

Gilead Sciences

Founded

1987

Revenue

US$27.281 billion (2022)

Headquarters

Foster City, California

Michael Riordan founded Gilead Sciences, which now operates in North America, Europe, and Australia. Gilead has expertise in discovering, developing, and commercializing innovative medicines in the areas of unmet medical needs. This research-based pharma manufacturing company is known for manufacturing antiviral drugs to treat patients with HIV, Hepatitis B, Hepatitis C, and influenza.

Its top revenue generates from its HIV drugs, such as Truvada and Genvoya. It is one of the drug companies in the USA that is actively researching and producing treatments for cardiovascular, hematological, inflammation, and liver diseases. Gilead Sciences’ annual revenue for 2022 was US$27.281 billion—a 0.09% decline from 2021.

Amgen

Founded

1980

Revenue

US$26.323 billion (2022)

Headquarters

Thousand Oaks, California

This pharmaceutical giant was founded by George Rathmann and is now among the largest independent companies in the world. The company focuses on molecular biology and biochemistry, while its mission is to provide a healthcare business based on recombinant DNA technology.

Amgen has gained recognition for pioneering the science of using living cells to make biological medicines and guiding the biotech industry. Its largest selling products are Neulasta, used for patients undergoing cancer chemotherapy, and Enbrel, used in treating rheumatoid arthritis. Amgen’s annual revenue for 2022 was US$26.323 billion—a 1.32% increase from 2021.

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End Note

The COVID-19 pandemic has taught us why it is vital to building a patient-centered future and why the pharmaceutical industry plays a key role. As the pharma landscape continues to evolve, more companies will join the list of top pharmaceutical companies in the USA in the coming years. The industry is already embracing disruptive technologies such as 3D-printed drugs and artificial intelligence-guided therapies, which will digitally revolutionize the industry. With the treasure trove of information in this blog, we hope that this helps you build connections with decision-makers in the pharmaceutical industry or even collaborate with them.

Our wide catalog of email lists comes with transparent industry insights necessary for connecting to crucial authorities in the drug manufacturing industry. Therefore, your team can channel our database to reach eminent decision-makers to achieve growth and increase business value.

FAQs

1. What are the top 10 pharmaceutical companies in the USA?

The top 10 pharmaceutical companies in the USA are:

Johnson & Johnson
Pfizer
AbbVie
Merck & Co

Bristol-Myers Squibb
Abbott Laboratories
Eli Lilly and Company
Biogen
Gilead Sciences

Amgen

2. Which are the leading pharmaceutical companies in the USA in terms of revenue?

The list of top pharma companies in the USA by revenue includes:

Johnson & Johnson – US$96.9 billion to US$97.9 billion (by the end of 2023)
Pfizer – US$67 billion to US$71 billion (by the end of 2023)

AbbVie Inc. – US$58.054 billion (2022)
Merck & Co – US$57.2 billion and US$58.7 billion (by the end of 2023)
Bristol-Myers Squibb – US$46.159 billion (2022)

3. Which are the most innovative pharmaceutical companies in the USA?

The top innovative pharma companies are:

Viatris – for creating the first FDA-approved interchangeable biosimilar for insulin.
GlaxoSmithKline – world’s first malaria vaccine.
AstraZeneca – developing a preventive COVID-19 treatment.
Amgen – treating rare forms of lung cancer.

4. How many pharmaceutical companies are there in the USA?

According to an Ibis world study, 2,655 brand-name pharmaceutical manufacturing businesses are in the USA as of 2023, with an increase of 6.2% from 2022.

5. Which state has the largest pharmaceutical industry?

New Jersey is one of the most important states in the USA pharmaceutical industry as it is the home to 14 of the 20 largest pharmaceutical companies in the country.

6. Which is the biggest pharma company in the USA?

Pfizer became the biggest pharma company in the USA as the sales of its COVID-19 vaccine skyrocketed to almost US$37.8 billion in 2021.

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Amberlynn Adam

Blogger, Content Developer & Editor. Amberlynn is a Content Marketing Professional and is an integral part of DataCaptive since its inception. She holds a passion for tracking new changes in the ever-evolving business world and putting them down in the form of blogs to encourage intelligent discussions & thought exchange. Apart from writing, reading fiction and thriller novels are her major interests.

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