Australian (ASX) Pharma Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 06 Jul 2026	AU$4.7b	AU$875.2m	-AU$363,483,473.00	17.8x	-12.8x	5.3x
Wed, 03 Jun 2026	AU$4.2b	AU$875.2m	-AU$363,483,473.00	19.7x	-11.6x	4.8x
Fri, 01 May 2026	AU$4.4b	AU$913.7m	-AU$357,628,473.00	13.2x	-12.3x	4.8x
Sun, 29 Mar 2026	AU$4.3b	AU$913.7m	-AU$358,400,628.00	13.6x	-12x	4.7x
Tue, 24 Feb 2026	AU$4.6b	AU$1.0b	-AU$194,529,330.00	10.2x	-23.7x	4.5x
Thu, 22 Jan 2026	AU$5.2b	AU$1.0b	-AU$199,680,775.00	14.7x	-26.2x	5.2x
Sat, 20 Dec 2025	AU$5.5b	AU$1.0b	-AU$199,680,775.00	15x	-27.4x	5.5x
Mon, 17 Nov 2025	AU$5.8b	AU$1.0b	-AU$202,211,775.00	14.1x	-28.5x	5.8x
Wed, 15 Oct 2025	AU$6.3b	AU$1.0b	-AU$202,211,775.00	14.1x	-31.3x	6.3x
Fri, 12 Sep 2025	AU$5.1b	AU$1.0b	-AU$202,211,775.00	15x	-25.2x	5.1x
Sun, 10 Aug 2025	AU$5.4b	AU$1.0b	-AU$210,394,927.00	15.8x	-25.9x	5.3x
Tue, 08 Jul 2025	AU$4.7b	AU$1.1b	-AU$225,511,927.00	14.1x	-20.7x	4.4x
Thu, 05 Jun 2025	AU$4.4b	AU$1.1b	-AU$225,511,927.00	12.2x	-19.5x	4.2x
Sat, 03 May 2025	AU$4.8b	AU$1.0b	-AU$238,266,485.00	18x	-20.3x	4.6x
Mon, 31 Mar 2025	AU$4.7b	AU$1.1b	-AU$289,508,485.00	20.2x	-16.4x	4.5x
Wed, 26 Feb 2025	AU$5.6b	AU$1.0b	-AU$350,976,357.00	14.5x	-15.9x	5.4x
Fri, 24 Jan 2025	AU$5.5b	AU$1.0b	-AU$378,981,112.00	12.5x	-14.6x	5.4x
Sun, 22 Dec 2024	AU$5.2b	AU$1.0b	-AU$378,981,112.00	11.9x	-13.6x	5.1x
Tue, 19 Nov 2024	AU$6.2b	AU$1.0b	-AU$377,703,112.00	14x	-16.4x	6.1x
Thu, 17 Oct 2024	AU$6.1b	AU$1.0b	-AU$377,703,112.00	14x	-16.3x	6.1x
Sat, 14 Sep 2024	AU$6.5b	AU$1.0b	-AU$365,958,403.00	13.5x	-17.8x	6.4x
Mon, 12 Aug 2024	AU$6.0b	AU$995.3m	-AU$387,920,108.00	10.5x	-15.5x	6x
Wed, 10 Jul 2024	AU$6.3b	AU$995.3m	-AU$387,920,108.00	11.5x	-16.1x	6.3x
Fri, 07 Jun 2024	AU$6.3b	AU$1.2b	-AU$379,935,217.00	14.3x	-16.6x	5.2x
Sun, 05 May 2024	AU$6.0b	AU$1.2b	-AU$374,923,684.00	13.9x	-16x	4.9x
Tue, 02 Apr 2024	AU$6.0b	AU$1.2b	-AU$374,923,684.00	15.2x	-15.9x	4.9x
Thu, 29 Feb 2024	AU$5.5b	AU$1.1b	-AU$497,720,585.00	26.1x	-11x	5.1x
Sat, 27 Jan 2024	AU$5.7b	AU$896.3m	-AU$589,604,392.00	20.9x	-9.6x	6.3x
Mon, 25 Dec 2023	AU$5.7b	AU$896.3m	-AU$589,604,392.00	21.5x	-9.6x	6.3x
Wed, 22 Nov 2023	AU$4.2b	AU$893.0m	-AU$595,020,018.00	17.7x	-7x	4.7x
Fri, 20 Oct 2023	AU$3.5b	AU$900.3m	-AU$587,952,018.00	19.2x	-6x	3.9x
Sun, 17 Sep 2023	AU$3.7b	AU$900.3m	-AU$587,952,018.00	19.3x	-6.2x	4.1x
Tue, 15 Aug 2023	AU$4.1b	AU$999.0m	-AU$624,794,303.00	20.7x	-6.5x	4.1x
Thu, 13 Jul 2023	AU$4.0b	AU$999.0m	-AU$624,794,303.00	24x	-6.4x	4x

Current Industry PE

Investors are relatively neutral on the Australian Pharmaceuticals 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 PS ratio of 5.2x.

Past Earnings Growth

The earnings for companies in the Pharmaceuticals industry have improved over the last three years.
Meanwhile revenues for these companies have declined 4.3% per year.
This means that less sales are being generated overall, but since the cost of doing business is lower, losses have been shrinking.

Industry Trends

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


AU Market	0.98%
Healthcare	5.62%
Pharma	21.49%
Pharma	21.49%

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
NEU Neuren Pharmaceuticals	AU$16.74	37.2% +AU$573.5m	17.2%	PE69.5x
CU6 Clarity Pharmaceuticals	AU$2.21	21.8% +AU$147.6m	-24.8%	PS77.9x
AVE Avecho Biotechnology	AU$0.023	27.8% +AU$19.2m	557.1%	PS71.2x
SPL Starpharma Holdings	AU$0.73	5.8% +AU$16.8m	707.7%	PS21.2x
MYX Mayne Pharma Group	AU$2.76	7.4% +AU$15.4m	-45.6%	PS0.6x

Avecho Biotechnology Limited Continues Recruitment for Phase III Insomnia Program Following Positive Interim Analysis

Avecho Biotechnology Limited has announced it will continue with recruitment for its world-first Phase III insomnia program following a positive interim analysis evaluating its TPM®-enhanced cannabidiol (CBD) capsule. The interim analysis represents a major value-inflection point for the program, reducing clinical development risk and providing a defined pathway toward completion of the pivotal study. The independent Data Monitoring Board (DMB) has completed its review of the unblinded interim analysis data from the pivotal Phase III clinical trial. The DMB is comprised of independent experts in sleep medicine, clinical safety and biostatistics and is the only body with access to unblinded trial data. The DMB has unanimously recommended the trial continue to the full planned enrolment of 519 participants. The recommendation is highly encouraging as it confirms the study has satisfied the pre-specified criteria established in the trial protocol to progress beyond the interim analysis and continue recruitment of a second patient cohort. The interim analysis was conducted on data from 244 participants randomised across three treatment groups receiving nightly doses of either 150mg CBD, 75mg CBD or placebo in a TPM®-enhanced capsule over an eight-week treatment period. Safety data reviewed at the interim analysis further supported the program, with no serious adverse events (SAEs) recorded across the 244 participants. Tolerability is central to the commercial rationale for the product. The Company is currently conducting a pivotal (Phase III), multi-centre, randomised, double-blind, placebo-controlled clinical trial evaluating the efficacy and safety of CBD TPM soft-gel capsules in adults for use in the reduction of insomnia severity. The trial is the largest of its kind testing cannabidiol, taking place at multiple sites around Australia. Aided by advice from international sleep and regulatory experts, the trial has been designed to meet the requirements of the Australian Therapeutic Goods Administration ("TGA"), US Food and Drug Agency and the European Medicines Agency. Trial Participants will be randomly assigned to one of three groups to receive nightly doses of either 75mg or 150mg of CBD, or a placebo for eight weeks. Participants will use validated questionnaires and daily sleep diaries over the course of the study to record the duration and quality of their sleep. Further information about the study can be found at ClinicalTrials.gov (Study Identifier: NCT05840822). In 2025, Avecho licensed Australian commercial rights to the CBD TPM capsule to Sandoz under an agreement that included a USD 3 million upfront payment, potential development and commercial milestones of up to USD 16 million and tiered royalties on future sales. The positive interim analysis strengthens Avecho's commercial position and adds momentum to ongoing licensing discussions covering territories outside Australia. The Company believes the interim outcome enhances the attractiveness of the program to potential commercial partners and strengthens the product's positioning against existing sleep medications. Accordingly, progressing additional regional licensing agreements will be a key strategic priority as Avecho seeks to fund continued development while maximising shareholder value. The Company will also now look to engage with the FDA and other international regulatory agencies to determine the path forward for the product in specific geographies.

Australian (ASX) Pharma Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Rising Women's Health Costs And Flat Revenue Will Eventually Reveal Underappreciated Earnings Potential

Neuren Pharmaceuticals Wins EU Backing for DAYBU in Rett Syndrome Unlocks $35 Million Milestone

Avecho Biotechnology Limited Continues Recruitment for Phase III Insomnia Program Following Positive Interim Analysis

Recce Pharmaceuticals Ltd has completed a Follow-on Equity Offering in the amount of AUD 4 million.

Syntara Limited has completed a Follow-on Equity Offering in the amount of AUD 8 million.

New major risk - Market cap size

Insufficient new directors

New minor risk - Share price stability

Here's Why We're Not Too Worried About Nyrada's (ASX:NYR) Cash Burn Situation

New minor risk - Share price stability

CEO, MD & Executive Director recently sold AU$1.1m worth of stock

Argent BioPharma Limited (ASX:RGT) completed the acquisition of 48% stake in Cannpal Animal Therapeutics Limited from AusCann Group Holdings Ltd.

Neurizon Therapeutics Limited has completed a Follow-on Equity Offering in the amount of AUD 7.106469 million.

New major risk - Shareholder dilution

First half 2026 earnings released: EPS: AU$0.003 (vs AU$0.013 loss in 1H 2025)