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Canadian (TSX) Pharma Industry Analysis

UpdatedJun 08, 2026
DataAggregated Company Financials
Companies54
  • 7D5.1%
  • 3M24.8%
  • 1Y46.8%
  • YTD2.6%

In the last week, the Pharma industry is up 5.1%, with Trulieve Cannabis up 29%. In the same time, iAnthus Capital Holdings was down 50%. This takes the industry's 12 month performance to a gain of 47%. Earnings are forecast to grow by 55% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 08 Jun 2026CA$13.8bCA$10.4b-CA$1,751,056,153.828.4x-7.9x1.3x
Wed, 06 May 2026CA$16.5bCA$11.2b-CA$1,678,680,222.3615.4x-9.8x1.5x
Fri, 03 Apr 2026CA$13.6bCA$11.4b-CA$1,655,848,633.3712.5x-8.2x1.2x
Sun, 01 Mar 2026CA$14.2bCA$11.2b-CA$1,765,189,451.0013.2x-8.1x1.3x
Tue, 27 Jan 2026CA$16.4bCA$11.2b-CA$1,940,535,466.3416x-8.4x1.5x
Thu, 25 Dec 2025CA$16.4bCA$11.2b-CA$1,935,296,917.4216.1x-8.5x1.5x
Sat, 22 Nov 2025CA$12.2bCA$11.4b-CA$1,930,600,956.3114.7x-6.3x1.1x
Mon, 20 Oct 2025CA$16.7bCA$11.3b-CA$2,041,111,924.7235.7x-8.2x1.5x
Wed, 17 Sep 2025CA$15.0bCA$11.2b-CA$2,024,963,951.7037x-7.4x1.3x
Fri, 15 Aug 2025CA$17.6bCA$11.8b-CA$2,555,442,453.3035.5x-6.9x1.5x
Sun, 13 Jul 2025CA$11.2bCA$11.7b-CA$2,540,996,725.9619.1x-4.4x1x
Tue, 10 Jun 2025CA$9.8bCA$11.7b-CA$2,521,636,564.1918x-3.9x0.8x
Thu, 08 May 2025CA$10.4bCA$11.9b-CA$2,485,079,178.2019.5x-4.2x0.9x
Sat, 05 Apr 2025CA$9.5bCA$12.3b-CA$2,621,291,233.9917.7x-3.6x0.8x
Mon, 03 Mar 2025CA$11.6bCA$12.3b-CA$2,414,306,643.1722.4x-4.8x0.9x
Wed, 29 Jan 2025CA$12.0bCA$12.1b-CA$2,414,410,421.9832.5x-5x1x
Fri, 27 Dec 2024CA$12.7bCA$12.1b-CA$2,414,612,115.8224.2x-5.3x1x
Sun, 24 Nov 2024CA$14.0bCA$11.8b-CA$2,558,921,605.2618.4x-5.5x1.2x
Tue, 22 Oct 2024CA$19.2bCA$11.8b-CA$2,711,965,469.6117.9x-7.1x1.6x
Thu, 19 Sep 2024CA$18.3bCA$11.7b-CA$2,701,425,303.7720.8x-6.8x1.6x
Sat, 17 Aug 2024CA$19.5bCA$11.7b-CA$2,744,358,647.8522x-7.1x1.7x
Mon, 15 Jul 2024CA$20.0bCA$11.7b-CA$3,177,476,587.8519.1x-6.3x1.7x
Wed, 12 Jun 2024CA$20.9bCA$11.8b-CA$2,774,337,054.7413x-7.6x1.8x
Fri, 10 May 2024CA$23.6bCA$11.9b-CA$3,400,624,537.7713.4x-6.9x2x
Sun, 07 Apr 2024CA$25.7bCA$11.9b-CA$3,481,114,387.218.7x-7.4x2.2x
Tue, 05 Mar 2024CA$21.1bCA$12.0b-CA$4,222,689,959.959.2x-5x1.8x
Thu, 01 Feb 2024CA$22.9bCA$12.4b-CA$6,724,497,273.009x-3.4x1.9x
Sat, 30 Dec 2023CA$18.0bCA$12.2b-CA$6,712,051,018.009.4x-2.7x1.5x
Mon, 27 Nov 2023CA$17.8bCA$12.4b-CA$6,821,960,697.007x-2.6x1.4x
Wed, 25 Oct 2023CA$16.8bCA$12.4b-CA$7,337,777,145.0012x-2.3x1.4x
Fri, 22 Sep 2023CA$19.7bCA$12.9b-CA$7,886,047,343.0013.8x-2.5x1.5x
Sun, 20 Aug 2023CA$14.0bCA$13.0b-CA$8,055,975,654.0013.1x-1.7x1.1x
Tue, 18 Jul 2023CA$16.0bCA$13.1b-CA$9,710,425,358.0012.4x-1.6x1.2x
Thu, 15 Jun 2023CA$14.7bCA$13.2b-CA$10,388,587,504.0010.7x-1.4x1.1x
Price to Earnings Ratio

-1.4x


Total Market Cap: CA$14.7bTotal Earnings: -CA$10,388,587,504.00Total Revenue: CA$13.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Pharma Industry Price to Earnings3Y Average -5.6x202420252026
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 7.7% 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 Market-0.64%
Healthcare3.46%
Pharma5.10%
Pharma5.10%
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
TRUL Trulieve CannabisCA$16.4525.7%
+CA$646.2m		217.0%PS1.9x
GTII Green Thumb IndustriesCA$11.502.0%
+CA$48.2m		65.0%PE14.9x
GUD Knight TherapeuticsCA$8.614.5%
+CA$36.3m		43.0%PE150.7x
NVRS Noveris Health SciencesCA$2.8625.4%
+CA$34.0m		472.0%PE104.4x
XLY Auxly Cannabis GroupCA$0.166.7%
+CA$14.3m		100.0%PE6.9x

Latest News

CWEB
CA$0.57
Charlotte's Web Holdings
7D
-17.4%
1Y
322.2%
ACB
CA$4.70
Aurora Cannabis
7D
-6.6%
1Y
-41.0%
Narrative Update • Jun 05

ACB: Rescheduling Tailwinds And Medical Portfolio Expansion Will Shape Balanced Outlook

Analysts have adjusted their CA$ price target on Aurora Cannabis to reflect updated expectations for slightly improved revenue trends, a higher profit margin outlook, and a lower future P/E, supported in part by recent Street research that views partial cannabis rescheduling as extremely favorable for the sector. What's in the News Aurora Cannabis received Plant Breeders' Rights in Canada for two proprietary cultivars, Farm Gas and Driftwood Diesel, giving the company exclusive rights to grow, propagate, and sell products from these varieties across key medical markets.
GUD
CA$8.61
Knight Therapeutics
7D
4.5%
1Y
43.0%
Narrative Update • Jun 05

GUD: Latin American Approvals And Buybacks Will Support Future Bullish Repricing

Analysts have revised the fair value estimate for Knight Therapeutics from about CA$12.00 to roughly CA$11.65, reflecting updated assumptions on revenue growth, profit margins and a higher future P/E multiple. Recent Street research also includes higher CA$ price targets and renewed positive coverage.
CURA
CA$11.51
Curaleaf Holdings
7D
-24.0%
1Y
214.5%
Narrative Update • Jun 04

CURA: Uplisting Preparations And Reverse Split Will Constrain Future Upside Potential

Analysts have raised their CA$ price target for Curaleaf Holdings by CA$1, reflecting updated views on fair value, the discount rate, revenue growth, profit margins, and future P/E assumptions. What's in the News Curaleaf announced a 1-for-3 reverse stock split of its shares, expected to take effect on or about June 5, 2026, in preparation for a potential uplisting to a major U.S. stock exchange following regulatory developments in the cannabis industry.
TRUL
CA$16.45
Trulieve Cannabis
7D
25.7%
1Y
217.0%
CRDL
CA$1.57
Cardiol Therapeutics
7D
-7.1%
1Y
-19.5%
Analysis Article • Jun 04

Is Cardiol Therapeutics (TSE:CRDL) In A Good Position To Invest In Growth?

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
WEED
CA$1.44
Canopy Growth
7D
-4.0%
1Y
-34.5%
Narrative Update • Jun 04

WEED: German Medical Relaunch And New Brand Portfolio Will Drive Upside

Analysts have adjusted their price target for Canopy Growth to CA$4.82, with updated assumptions that include a slightly higher discount rate, modestly different revenue growth expectations, a small change in projected profit margin and a revised future P/E estimate. What's in the News Relaunch of the Tweed brand in the German medical cannabis market, with three initial strains supplied by wholly owned subsidiary MTL Cannabis Corp., targeting physicians and patients familiar with the legacy brand.
CL
CA$1.24
Cresco Labs
7D
-5.3%
1Y
69.9%
Narrative Update • Jun 04

CL: Expanded Footprint And Texas License Will Support A More Upside Skewed Profile

Analysts trimmed their price target on Cresco Labs to CA$2.25 from CA$2.50, citing updated assumptions around revenue growth, discount rate, profit margin and future P/E that together support a slightly lower fair value estimate. What's in the News Cresco Labs opened Sunnyside Aberdeen in Aberdeen, Ohio, its second new Ohio dispensary in the past month, bringing the footprint to eight locations in the state and 74 nationally.
TSND
CA$1.04
TerrAscend
7D
4.0%
1Y
173.7%
Narrative Update • Jun 03

TSND: Active M&A Agenda And Margin Improvements Will Support Future Profitability

Analysts have adjusted their TerrAscend price target to CA$2.01 from CA$2.00, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News TerrAscend reiterated an active M&A agenda, with executives highlighting ongoing discussions for accretive acquisitions and interest in distressed assets in core markets, sourced from the first quarter 2026 results call.
CRON
CA$3.85
Cronos Group
7D
-2.0%
1Y
44.2%
Narrative Update • May 31

CRON: Partial Rescheduling Expectations Will Constrain Future Earnings Power

Analysts have raised Cronos Group's CA$ price target by CA$1, citing updated expectations around revenue growth, margins and future P/E assumptions, as well as recent Street research that includes a CA$1 target increase at TD Securities and favorable perspectives on partial cannabis re-scheduling. Analyst Commentary Recent Street commentary around Cronos Group has focused on how updated revenue expectations, margin trajectories and P/E assumptions feed into revised valuation frameworks.
GTII
CA$11.50
Green Thumb Industries
7D
2.0%
1Y
65.0%
Narrative Update • May 28

GTII: Partial Cannabis Rescheduling Will Support Re Rating Despite Medical Efficacy Concerns

Analysts have increased their CA$ price target on Green Thumb Industries by CA$4.17 to reflect updated fair value assumptions and a higher future P/E multiple, following recent research that highlights both a raised Benchmark target and Roth's view that partial cannabis rescheduling is extremely favorable for the sector. Analyst Commentary Bullish analysts are framing the latest research on Green Thumb Industries around two key themes: updated valuation work and a more supportive regulatory backdrop for cannabis.
GWAY
CA$0.16
Greenway Greenhouse Cannabis
7D
23.1%
1Y
-15.8%
NVRS
CA$2.86
Noveris Health Sciences
7D
25.4%
1Y
472.0%
XLY
CA$0.16
Auxly Cannabis Group
7D
6.7%
1Y
100.0%
GRIN
CA$0.61
Grown Rogue International
7D
1.7%
1Y
27.1%
IAN
CA$0.005
iAnthus Capital Holdings
7D
-50.0%
1Y
0%