Australian (ASX) Biotech Industry Analysis

Industry Valuation and Performance

Has the Australian Biotech Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Wed, 24 Jun 2026	AU$65.7b	AU$23.7b	AU$1.5b	21.1x	45x	2.8x
Fri, 22 May 2026	AU$60.2b	AU$23.1b	AU$1.4b	19.5x	42.8x	2.6x
Sun, 19 Apr 2026	AU$78.0b	AU$23.0b	AU$1.4b	24x	55.9x	3.4x
Tue, 17 Mar 2026	AU$78.5b	AU$23.6b	AU$1.4b	24.7x	54.5x	3.3x
Thu, 12 Feb 2026	AU$90.0b	AU$22.9b	AU$1.5b	40.2x	60.1x	3.9x
Sat, 10 Jan 2026	AU$96.8b	AU$24.6b	AU$4.0b	18.7x	24.1x	3.9x
Mon, 08 Dec 2025	AU$101.8b	AU$24.8b	AU$4.0b	19.7x	25.2x	4.1x
Wed, 05 Nov 2025	AU$98.3b	AU$25.3b	AU$4.1b	18.5x	23.7x	3.9x
Fri, 03 Oct 2025	AU$112.7b	AU$24.8b	AU$4.1b	22x	27.7x	4.5x
Sun, 31 Aug 2025	AU$114.3b	AU$25.1b	AU$4.1b	22.5x	27.7x	4.6x
Tue, 29 Jul 2025	AU$145.0b	AU$24.4b	AU$3.8b	49.2x	37.7x	5.9x
Thu, 26 Jun 2025	AU$129.0b	AU$24.5b	AU$3.9b	20.1x	33.3x	5.3x
Sat, 24 May 2025	AU$133.4b	AU$24.6b	AU$3.9b	20.9x	34.3x	5.4x
Mon, 21 Apr 2025	AU$129.6b	AU$24.9b	AU$3.9b	20.4x	32.9x	5.2x
Wed, 19 Mar 2025	AU$134.7b	AU$25.0b	AU$4.0b	21.4x	34.1x	5.4x
Fri, 14 Feb 2025	AU$139.5b	AU$25.2b	AU$3.8b	22.7x	36.3x	5.5x
Sun, 12 Jan 2025	AU$153.0b	AU$25.0b	AU$3.7b	24.1x	40.8x	6.1x
Tue, 10 Dec 2024	AU$150.1b	AU$23.9b	AU$3.6b	25.3x	42.2x	6.3x
Thu, 07 Nov 2024	AU$151.2b	AU$23.5b	AU$3.5b	26.8x	43.3x	6.4x
Sat, 05 Oct 2024	AU$152.1b	AU$22.5b	AU$3.3b	28x	45.7x	6.8x
Mon, 02 Sep 2024	AU$159.3b	AU$22.8b	AU$3.5b	30x	45.3x	7x
Wed, 31 Jul 2024	AU$160.6b	AU$22.5b	AU$3.3b	31.9x	48.5x	7.1x
Fri, 28 Jun 2024	AU$153.5b	AU$22.1b	AU$3.2b	31.9x	47.3x	6.9x
Sun, 26 May 2024	AU$145.8b	AU$22.2b	AU$3.2b	31.1x	45x	6.6x
Tue, 23 Apr 2024	AU$138.9b	AU$22.9b	AU$3.4b	28.9x	41.3x	6.1x
Thu, 21 Mar 2024	AU$142.6b	AU$22.5b	AU$3.3b	29.1x	43.2x	6.3x
Sat, 17 Feb 2024	AU$144.5b	AU$22.3b	AU$3.3b	31x	44x	6.5x
Mon, 15 Jan 2024	AU$147.8b	AU$20.5b	AU$2.7b	34.6x	54.4x	7.2x
Wed, 13 Dec 2023	AU$137.1b	AU$20.8b	AU$2.8b	33.5x	49.6x	6.6x
Fri, 10 Nov 2023	AU$128.7b	AU$21.4b	AU$2.9b	30.8x	44.9x	6x
Sun, 08 Oct 2023	AU$128.1b	AU$21.5b	AU$2.8b	29.7x	45.4x	6x
Tue, 05 Sep 2023	AU$137.1b	AU$21.3b	AU$2.8b	33.7x	49.3x	6.5x
Thu, 03 Aug 2023	AU$138.3b	AU$18.3b	AU$2.4b	36.6x	58.5x	7.6x
Sat, 01 Jul 2023	AU$142.7b	AU$18.2b	AU$2.4b	37.7x	60.7x	7.9x

Current Industry PE

Investors are relatively neutral on the Australian Biotechs industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PE ratio of 42.0x.

The 3-year average PS ratio of 5.6x is higher than the industry's current PS ratio of 2.8x.

Past Earnings Growth

The earnings for companies in the Biotechs industry have declined 15% per year over the last three years.
Meanwhile revenues for these companies have grown 9.3% per year.
This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Australian Healthcare industry?


AU Market	-1.45%
Healthcare	2.79%
Biotech	5.75%
Biotech	5.75%

Industry PEThere are no additional sub-industries under this industry.

Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
CSL CSL	AU$114.99	7.7% +AU$3.9b	-51.8%	PE27.3x
TLX Telix Pharmaceuticals	AU$15.73	11.2% +AU$536.2m	-35.3%	PS4.6x
MSB Mesoblast	AU$2.23	12.9% +AU$330.4m	38.5%	PS30.5x
PYC PYC Therapeutics	AU$1.54	15.4% +AU$201.6m	19.8%	PS73.7x
CUV Clinuvel Pharmaceuticals	AU$10.20	4.3% +AU$21.2m	1.3%	PE15.8x

Mesoblast Limited Achieves Patient Recruitment Target in Pivotal Phase 3 Trial for Chronic Low Back Pain

Mesoblast Limited announced that its pivotal Phase 3 clinical trial evaluating rexlemestrocel-L for the treatment of chronic low back pain (CLBP) associated with degenerative disc disease has achieved its patient recruitment target. The placebo-controlled study (MSB-DR004) will follow at least 300 patients randomized to a single intra-discal injection of rexlemestrocel-L or sham control for 12 months. The trial seeks to confirm results from the earlier MSB-DR003 trial where a single intra-discal injection of rexlemestrocel-L resulted in clinically meaningful reductions in pain and opioid usage for up to three years. The trial’s primary endpoint is powered to show a significant difference in reduction of low back pain at 12 months between rexlemestrocel-L and sham controls. Secondary endpoints include improvements in function, quality of life, and cessation of pain medication, including opioids. Top-line results are expected in mid-CY2027 after the last randomized patient has completed follow-up. A positive readout will be used in support of an expected regulatory filing in Third Quarter CY2027 for United States Food and Drug Administration (FDA) approval. Rexlemestrocel-L has Regenerative Medicine Advanced Therapy (RMAT) designation from the FDA for treatment of CLBP due to degenerative disc disease providing eligibility for priority review once the Biologics License Application (BLA) has been filed. CLBP caused by inflammation and degenerative disc disease is a serious condition with a prevalence of over 7 million people in the U.S. alone. The indication is a potential blockbuster for Mesoblast with potential peak year revenue of >USD 10 billion with single digit market penetration. The 300-patient randomized controlled confirmatory Phase 3 trial of Mesoblast’s second generation allogeneic, STRO3-immunoselected, and industrially manufactured stromal cell product candidate rexlemestrocel-L in combination with hyaluronic acid (HA) as delivery agent for injection into the lumbar disc is actively enrolling in patients with chronic low back pain (CLBP) due to inflammatory degenerative disc disease (DDD) of less than five years duration at multiple sites across the U.S. FDA has previously agreed on the design of this 300-patient randomized, placebo-controlled confirmatory Phase 3 trial, and the 12-month primary endpoint of pain reduction as an approvable indication. This endpoint was successfully met in Mesoblast’s first Phase 3 trial. Key secondary measures include improvement in quality of life and function. A particular focus is on treatment of patients on opioids, since discogenic back pain accounts for approximately 50% of prescription opioid usage in the US. Significant pain reduction and opioid cessation were observed in Mesoblast’s first Phase 3 trial. FDA has designated rexlemestrocel-L a Regenerative Medicine Advanced Therapy (RMAT) for the treatment of chronic low back pain. RMAT designation provides all the benefits of Breakthrough and Fast Track designations, including rolling review and eligibility for priority review on filing of a Biologics License Application (BLA). Back pain is the leading cause of disability in Americans under 45 years, with an annual prevalence in the general US adult population of 10-30%. CLBP caused by inflammation and degenerative disc disease (DDD) is a serious condition with a prevalence of over 7 million people in the US alone. CLBP due to DDD is a leading cause of disability, and is associated with impaired quality of life, severe limitations in ability to perform activities of daily living, reduced ability to work, and negative impacts on mental health. CLBP accounts for approximately 50% of prescription opioid usage in the US, making the condition a significant contributor to the opioid epidemic.

Australian (ASX) Biotech Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

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