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Canadian (TSX) Pharma Industry Analysis

UpdatedJul 03, 2026
DataAggregated Company Financials
Companies54
  • 7D4.2%
  • 3M12.2%
  • 1Y54.5%
  • YTD1.9%

Over the last 7 days, the Pharma industry has risen 6.1%, driven by gains from Apotex Health of 4.5%. During this same period, the Noveris Health Sciences underperformed, falling 21%. This takes the industry's 12 month performance to a gain of 55%. Looking forward, earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Jul 2026CA$14.6bCA$10.7b-CA$1,737,569,144.649.8x-8.4x1.4x
Sun, 31 May 2026CA$16.9bCA$12.1b-CA$1,891,923,461.118.2x-8.9x1.4x
Tue, 28 Apr 2026CA$16.4bCA$11.2b-CA$1,662,568,946.5615.9x-9.9x1.5x
Thu, 26 Mar 2026CA$13.8bCA$11.4b-CA$1,711,974,192.5312.5x-8.1x1.2x
Sat, 21 Feb 2026CA$15.1bCA$11.2b-CA$1,902,820,914.1914.6x-8x1.3x
Mon, 19 Jan 2026CA$16.6bCA$11.3b-CA$1,960,732,761.7416.1x-8.4x1.5x
Wed, 17 Dec 2025CA$18.2bCA$11.2b-CA$1,943,474,869.3514.8x-9.3x1.6x
Fri, 14 Nov 2025CA$15.5bCA$11.3b-CA$1,866,913,276.1515.6x-8.3x1.4x
Sun, 12 Oct 2025CA$17.2bCA$11.3b-CA$2,040,987,138.2035.1x-8.4x1.5x
Tue, 09 Sep 2025CA$16.5bCA$11.2b-CA$2,030,693,710.6938x-8.1x1.5x
Thu, 07 Aug 2025CA$13.0bCA$11.8b-CA$2,566,130,719.0618.2x-5.1x1.1x
Sat, 05 Jul 2025CA$10.0bCA$11.7b-CA$2,527,662,971.2717.2x-4x0.9x
Mon, 02 Jun 2025CA$9.8bCA$11.8b-CA$2,508,706,169.3818.9x-3.9x0.8x
Wed, 30 Apr 2025CA$10.0bCA$11.9b-CA$2,508,362,684.3320.6x-4x0.8x
Fri, 28 Mar 2025CA$10.1bCA$12.3b-CA$2,587,874,919.4620.2x-3.9x0.8x
Sun, 23 Feb 2025CA$12.0bCA$12.1b-CA$2,216,825,481.5121.8x-5.4x1x
Tue, 21 Jan 2025CA$12.6bCA$12.1b-CA$2,407,039,631.2430.1x-5.2x1x
Thu, 19 Dec 2024CA$12.9bCA$12.2b-CA$2,607,575,768.1320.5x-4.9x1.1x
Sat, 16 Nov 2024CA$14.8bCA$12.0b-CA$2,680,566,269.3316.2x-5.5x1.2x
Mon, 14 Oct 2024CA$18.4bCA$11.8b-CA$2,699,739,851.4518.1x-6.8x1.6x
Wed, 11 Sep 2024CA$18.7bCA$11.6b-CA$2,704,334,320.5020.5x-6.9x1.6x
Fri, 09 Aug 2024CA$17.9bCA$11.7b-CA$2,608,458,462.8020.1x-6.9x1.5x
Sun, 07 Jul 2024CA$19.0bCA$11.7b-CA$3,213,209,526.1818.5x-5.9x1.6x
Tue, 04 Jun 2024CA$21.4bCA$11.9b-CA$3,475,946,996.6213.1x-6.2x1.8x
Thu, 02 May 2024CA$28.7bCA$11.9b-CA$3,436,057,737.3512.3x-8.4x2.4x
Sat, 30 Mar 2024CA$25.0bCA$11.9b-CA$3,497,553,191.879.3x-7.1x2.1x
Mon, 26 Feb 2024CA$23.1bCA$12.0b-CA$4,646,844,959.649.6x-5x1.9x
Wed, 24 Jan 2024CA$21.4bCA$12.4b-CA$6,756,214,925.009.4x-3.2x1.7x
Fri, 22 Dec 2023CA$16.4bCA$12.2b-CA$6,720,401,798.008.3x-2.4x1.3x
Sun, 19 Nov 2023CA$17.0bCA$12.5b-CA$6,839,337,145.007.1x-2.5x1.4x
Tue, 17 Oct 2023CA$18.2bCA$12.3b-CA$7,321,999,345.0013.2x-2.5x1.5x
Thu, 14 Sep 2023CA$21.7bCA$13.0b-CA$7,900,097,670.0015.4x-2.7x1.7x
Sat, 12 Aug 2023CA$14.2bCA$13.1b-CA$8,044,261,319.0011.9x-1.8x1.1x
Mon, 10 Jul 2023CA$16.6bCA$13.2b-CA$9,521,794,298.0012.4x-1.7x1.3x
Price to Earnings Ratio

-1.7x


Total Market Cap: CA$16.6bTotal Earnings: -CA$9,521,794,298.00Total Revenue: CA$13.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Pharma Industry Price to Earnings3Y Average -5.7x202420252026
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 6.7% 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 Market0.26%
Healthcare3.26%
Pharma4.16%
Pharma4.16%
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
APTX Apotex HealthCA$32.414.5%
+CA$317.6m		n/aPE19.8x
CURA Curaleaf HoldingsCA$14.556.7%
+CA$243.0m		329.2%PS2.1x
CRON Cronos GroupCA$4.074.9%
+CA$71.0m		47.5%PS6.7x
GTII Green Thumb IndustriesCA$10.783.0%
+CA$67.9m		47.9%PE13.7x
WEED Canopy GrowthCA$1.439.2%
+CA$50.7m		-18.3%PS2.1x

Latest News

CL
CA$1.16
Cresco Labs
7D
-0.9%
1Y
75.8%
Narrative Update • Jul 02

CL: Expanded Ohio Dispensary Footprint Will Support Future Upside Potential

Analysts have adjusted their CA$ fair value estimate for Cresco Labs from about CA$2.42 to roughly CA$2.72, reflecting updated views on its revenue outlook, profit margins, discount rate and future P/E assumptions. What’s in the News for Cresco Labs Cresco Labs opened Sunnyside Aberdeen in Aberdeen, Ohio, the company’s second Ohio dispensary opening in the past month.
GSD
CA$8.01
Devonian Health Group
7D
-17.8%
1Y
16.1%
TSND
CA$0.90
TerrAscend
7D
-5.8%
1Y
140.0%
APTX
CA$32.41
Apotex Health
7D
4.5%
1Y
n/a
VEXT
CA$0.23
Vext Science
7D
-11.5%
1Y
31.4%
NVRS
CA$1.37
Noveris Health Sciences
7D
-21.3%
1Y
448.0%
GTII
CA$10.78
Green Thumb Industries
7D
3.0%
1Y
47.9%
VRNO
CA$8.70
Verano Holdings
7D
6.5%
1Y
163.6%
Narrative Update • Jun 29

VRNO: Share Repurchase Plan Will Drive Future Upside Potential

Analysts have increased their fair value estimate for Verano Holdings from CA$4.21 to CA$24.73. They cite updated assumptions for discount rates, revenue growth, profit margins and a lower future P/E multiple as key drivers of the new price target range.
CRON
CA$4.07
Cronos Group
7D
4.9%
1Y
47.5%
Narrative Update • Jun 28

CRON: Partial Rescheduling And Buybacks Will Support A Stronger Outlook

Analysts have raised their Cronos Group price target by CA$0.50 to CA$5.50, citing revised assumptions around higher projected revenue growth, a different discount rate, and updated margin and P/E expectations following recent research commentary and a more favorable view on partial cannabis re scheduling. Analyst Commentary Recent research on Cronos Group highlights how shifting views on cannabis policy and updated valuation work are feeding into more constructive analyst sentiment on the stock.
CURA
CA$14.55
Curaleaf Holdings
7D
6.7%
1Y
329.2%
WEED
CA$1.43
Canopy Growth
7D
9.2%
1Y
-18.3%
MDP
CA$5.23
Medexus Pharmaceuticals
7D
29.5%
1Y
72.6%
GUD
CA$9.84
Knight Therapeutics
7D
5.0%
1Y
63.5%
Narrative Update • Jun 25

GUD: Latin American Drug Launches And Renewed Coverage Will Drive Future Repricing

Analysts have lifted their price target on Knight Therapeutics by CA$1, reflecting updated assumptions for slightly higher revenue growth and profit margins, along with a modestly lower future P/E multiple. Analyst Commentary Recent research coverage on Knight Therapeutics points to a more constructive tone, with bullish analysts emphasizing the refreshed price target and renewed attention on the stock.
QNTM
CA$5.00
Quantum BioPharma
7D
-10.7%
1Y
-78.7%
XLY
CA$0.17
Auxly Cannabis Group
7D
-2.8%
1Y
40.0%
VREO
CA$13.98
Vireo Growth
7D
-0.6%
1Y
-22.3%