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Canadian (TSX) Pharma Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies58
  • 7D-22.6%
  • 3M1.7%
  • 1Y13.0%
  • YTD6.1%

Over the last 7 days, the Pharma industry has dropped 23%, driven by Curaleaf Holdings declining 38%. On the other hand NervGen Pharma is actually up 19%. This takes the industry's 12 month performance to a gain of 13%. Looking forward, earnings are forecast to grow by 68% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025CA$16.2bCA$11.2b-CA$1,937,220,386.8415.7x-8.4x1.4x
Fri, 21 Nov 2025CA$12.3bCA$11.4b-CA$1,931,738,091.8914.2x-6.3x1.1x
Sun, 19 Oct 2025CA$16.7bCA$11.3b-CA$2,041,111,924.7235.7x-8.2x1.5x
Tue, 16 Sep 2025CA$15.3bCA$11.2b-CA$2,026,925,437.8039.7x-7.5x1.4x
Thu, 14 Aug 2025CA$16.3bCA$11.7b-CA$2,532,480,838.5022.7x-6.4x1.4x
Sat, 12 Jul 2025CA$10.8bCA$11.7b-CA$2,538,599,628.3419.6x-4.3x0.9x
Mon, 09 Jun 2025CA$9.8bCA$11.7b-CA$2,523,132,318.4618x-3.9x0.8x
Wed, 07 May 2025CA$10.8bCA$11.9b-CA$2,464,224,800.0120.1x-4.4x0.9x
Fri, 04 Apr 2025CA$10.1bCA$12.2b-CA$2,602,022,548.6318.6x-3.9x0.8x
Sun, 02 Mar 2025CA$11.6bCA$12.3b-CA$2,414,712,558.1722.4x-4.8x0.9x
Tue, 28 Jan 2025CA$12.3bCA$12.1b-CA$2,412,356,577.5330.9x-5.1x1x
Thu, 26 Dec 2024CA$12.7bCA$12.1b-CA$2,410,973,342.5624.3x-5.3x1x
Sat, 23 Nov 2024CA$14.1bCA$11.8b-CA$2,558,902,656.5118.4x-5.5x1.2x
Mon, 21 Oct 2024CA$19.2bCA$11.8b-CA$2,708,717,422.1217.4x-7.1x1.6x
Wed, 18 Sep 2024CA$18.5bCA$11.6b-CA$2,699,222,813.8120.9x-6.8x1.6x
Fri, 16 Aug 2024CA$19.4bCA$11.7b-CA$2,766,813,006.6923.6x-7x1.7x
Sun, 14 Jul 2024CA$20.0bCA$11.7b-CA$3,177,476,587.8519.1x-6.3x1.7x
Tue, 11 Jun 2024CA$20.9bCA$11.8b-CA$2,775,247,746.6612.9x-7.5x1.8x
Thu, 09 May 2024CA$23.4bCA$11.9b-CA$3,453,064,894.8910.8x-6.8x2x
Sat, 06 Apr 2024CA$24.6bCA$11.9b-CA$3,481,079,488.498.7x-7.1x2.1x
Mon, 04 Mar 2024CA$21.7bCA$12.0b-CA$4,217,629,521.489.4x-5.1x1.8x
Wed, 31 Jan 2024CA$22.7bCA$12.3b-CA$6,716,542,477.008.8x-3.4x1.8x
Fri, 29 Dec 2023CA$17.7bCA$12.2b-CA$6,707,159,626.009.1x-2.6x1.5x
Sun, 26 Nov 2023CA$17.8bCA$12.4b-CA$6,821,960,697.007x-2.6x1.4x
Tue, 24 Oct 2023CA$16.8bCA$12.4b-CA$7,337,693,416.0012x-2.3x1.4x
Thu, 21 Sep 2023CA$20.7bCA$12.9b-CA$7,880,149,538.0013.9x-2.6x1.6x
Sat, 19 Aug 2023CA$13.9bCA$13.0b-CA$8,052,240,353.0013.1x-1.7x1.1x
Mon, 17 Jul 2023CA$16.0bCA$13.2b-CA$9,718,273,603.0012.4x-1.6x1.2x
Wed, 14 Jun 2023CA$14.6bCA$13.2b-CA$10,382,733,556.0010.7x-1.4x1.1x
Fri, 12 May 2023CA$14.8bCA$13.3b-CA$10,256,145,500.009.9x-1.4x1.1x
Sun, 09 Apr 2023CA$15.5bCA$13.3b-CA$9,967,644,441.008.2x-1.6x1.2x
Tue, 07 Mar 2023CA$19.9bCA$13.7b-CA$10,323,246,624.009.4x-1.9x1.4x
Thu, 02 Feb 2023CA$20.5bCA$13.5b-CA$10,126,848,375.0011x-2x1.5x
Sat, 31 Dec 2022CA$19.9bCA$13.6b-CA$10,135,366,379.0014.1x-2x1.5x
Price to Earnings Ratio

-2x


Total Market Cap: CA$19.9bTotal Earnings: -CA$10,135,366,379.00Total Revenue: CA$13.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Pharma Industry Price to Earnings3Y Average -4.6x202320242025
Current Industry PE
  • Investors are relatively neutral on the Canadian 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 1.4x.
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 6.3% 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 Canadian Healthcare industry?

CA Market2.23%
Healthcare-11.30%
Pharma-22.55%
Pharma-22.55%
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?

CompanyLast Price7D1YValuation
NGEN NervGen PharmaCA$6.9019.0%
+CA$86.9m		121.9%PE-21.3x
CWEB Charlotte's Web HoldingsCA$0.3985.7%
+CA$28.7m		178.6%PS0.9x
CPH Cipher PharmaceuticalsCA$15.007.5%
+CA$26.6m		1.8%PE16x
QNTM Quantum BioPharmaCA$13.4017.0%
+CA$7.4m		182.7%PB4.3x
SKNY LIR Life SciencesCA$1.5526.0%
+CA$6.1m		n/aPE-71.2x

Latest News

CURA
CA$3.85
Curaleaf Holdings
7D
-38.2%
1Y
71.9%

CURA: Regulatory Momentum Will Likely Drive A Bullish Re-Rating Ahead

Analysts have raised their price target on Curaleaf Holdings from C$2.65 to C$4.40, citing improving growth and profitability expectations, along with a more favorable regulatory backdrop that could drive a broader sector re rating. Analyst Commentary While the latest forecast revisions highlight improving fundamentals for Curaleaf Holdings, recent Street research also underscores a more nuanced outlook, with some market participants emphasizing residual risks around execution and the regulatory timeline.
WEED
CA$1.93
Canopy Growth
7D
-23.7%
1Y
-52.3%

WEED: Medical Expansion Will Drive Future Upside For Shares

Analysts have nudged their price target on Canopy Growth higher to reflect an improved fair value estimate, rising from approximately $3.30 to $3.76. This revision is supported by slightly stronger projected revenue growth, a notable uplift in expected profit margins, and a lower anticipated future price to earnings multiple.
QNTM
CA$13.40
Quantum BioPharma
7D
17.0%
1Y
182.7%
TRUL
CA$10.65
Trulieve Cannabis
7D
-30.4%
1Y
54.6%

Trulieve Cannabis Corp.'s (CSE:TRUL) Shares Climb 55% But Its Business Is Yet to Catch Up

Dec 22
Trulieve Cannabis Corp.'s (CSE:TRUL) Shares Climb 55% But Its Business Is Yet to Catch Up
CL
CA$1.65
Cresco Labs
7D
-39.3%
1Y
32.0%
CWEB
CA$0.39
Charlotte's Web Holdings
7D
85.7%
1Y
178.6%
GTII
CA$10.60
Green Thumb Industries
7D
-18.5%
1Y
-4.6%
CRON
CA$3.75
Cronos Group
7D
-14.4%
1Y
31.1%
MDP
CA$2.79
Medexus Pharmaceuticals
7D
5.3%
1Y
-14.2%

MDP: Share Repurchase Program Will Drive Stronger Future Shareholder Returns

Analysts have raised their price target for Medexus Pharmaceuticals to approximately $8.00 per share from about $6.00, citing expectations of stronger revenue growth, a substantial improvement in profit margins, and a lower projected future P/E multiple that enhances the stock's valuation appeal. What's in the News Medexus Pharmaceuticals Inc.
TSND
CA$1.05
TerrAscend
7D
-31.8%
1Y
15.4%

TSND: Licensing Expansion Into Mid Atlantic Markets Will Drive Stronger Profitability

Analysts have raised their price target on TerrAscend by approximately $2.25 to about $1.98 per share. They cited expectations for stronger profit margins and a more reasonable future earnings multiple, even as they moderate revenue growth assumptions and apply a slightly higher discount rate.
VRNO
CA$1.69
Verano Holdings
7D
-29.3%
1Y
-9.1%

VRNO: Expanded Licenses And Retail Footprint Will Drive Stronger Market Position

Analysts have reduced their average price target on Verano Holdings from approximately 184.62 to about 56.93 per share. This reflects updated expectations for stronger revenue growth and improving profit margins, but at a more conservative future earnings multiple.
CPH
CA$15.00
Cipher Pharmaceuticals
7D
7.5%
1Y
1.8%

CPH: Share Buybacks Will Support Earnings And Maintain A Balanced Outlook

Analysts have nudged their price target on Cipher Pharmaceuticals higher, from 14.00 dollars to 14.50 dollars, citing stronger expected revenue growth, improved profit margins, and a more attractive forward earnings multiple despite a slightly higher discount rate. What's in the News Cipher Pharmaceuticals repurchased 141,700 shares between July 1 and September 30, 2025, totaling CAD 2.18 million and representing 0.56% of outstanding shares (company buyback update).
SKNY
CA$1.55
LIR Life Sciences
7D
26.0%
1Y
n/a
RX
CA$12.50
BioSyent
7D
3.3%
1Y
8.2%

BioSyent Inc.'s (CVE:RX) Share Price Not Quite Adding Up

Nov 28
BioSyent Inc.'s (CVE:RX) Share Price Not Quite Adding Up
NGEN
CA$6.90
NervGen Pharma
7D
19.0%
1Y
121.9%
LABS
CA$0.07
MediPharm Labs
7D
7.7%
1Y
7.7%