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

Investors are optimistic on the Canadian Pharmaceuticals industry, and appear confident in long term growth rates. The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 1.7x.

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

There are no additional sub-industries under this industry.

Canadian (TSX) Pharma Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 21 Sep 2026	CA$22.5b	CA$13.6b	-CA$889,320,802.22	12.1x	-25.3x	1.7x
Wed, 19 Aug 2026	CA$22.1b	CA$13.6b	-CA$941,908,548.97	9.7x	-23.5x	1.6x
Fri, 17 Jul 2026	CA$13.7b	CA$10.6b	-CA$1,722,553,822.58	9.6x	-7.9x	1.3x
Sun, 14 Jun 2026	CA$14.1b	CA$10.6b	-CA$1,806,163,745.38	8.1x	-7.8x	1.3x
Tue, 12 May 2026	CA$17.2b	CA$11.3b	-CA$1,384,337,457.92	13.9x	-12.4x	1.5x
Thu, 09 Apr 2026	CA$13.7b	CA$11.3b	-CA$1,649,282,178.16	12.1x	-8.3x	1.2x
Sat, 07 Mar 2026	CA$13.9b	CA$11.2b	-CA$1,907,731,800.67	13.2x	-7.3x	1.2x
Mon, 02 Feb 2026	CA$14.3b	CA$11.2b	-CA$1,970,176,869.89	16.1x	-7.2x	1.3x
Wed, 31 Dec 2025	CA$16.0b	CA$11.2b	-CA$1,936,822,377.61	16x	-8.3x	1.4x
Fri, 28 Nov 2025	CA$13.5b	CA$11.4b	-CA$1,925,296,930.86	14.6x	-7x	1.2x
Sun, 26 Oct 2025	CA$16.7b	CA$11.3b	-CA$2,039,568,629.54	35.1x	-8.2x	1.5x
Tue, 23 Sep 2025	CA$16.1b	CA$11.2b	-CA$2,032,383,936.28	39.9x	-7.9x	1.4x
Thu, 21 Aug 2025	CA$15.5b	CA$11.9b	-CA$2,560,248,646.88	35.8x	-6.1x	1.3x
Sat, 19 Jul 2025	CA$10.6b	CA$11.7b	-CA$2,546,763,696.20	19.2x	-4.2x	0.9x
Mon, 16 Jun 2025	CA$9.6b	CA$11.6b	-CA$2,503,258,167.29	18.3x	-3.8x	0.8x
Wed, 14 May 2025	CA$10.2b	CA$12.0b	-CA$2,467,852,145.30	19.8x	-4.1x	0.9x
Fri, 11 Apr 2025	CA$8.9b	CA$12.1b	-CA$2,587,846,952.63	17.6x	-3.4x	0.7x
Sun, 09 Mar 2025	CA$11.1b	CA$12.3b	-CA$2,628,439,303.16	22.6x	-4.2x	0.9x
Tue, 04 Feb 2025	CA$12.0b	CA$12.3b	-CA$2,400,959,336.92	25.9x	-5x	1x
Thu, 02 Jan 2025	CA$13.0b	CA$12.1b	-CA$2,412,567,024.59	31.2x	-5.4x	1.1x
Sat, 30 Nov 2024	CA$14.4b	CA$11.9b	-CA$2,566,915,766.90	21.1x	-5.6x	1.2x
Mon, 28 Oct 2024	CA$20.5b	CA$11.8b	-CA$2,719,008,808.58	18.4x	-7.5x	1.7x
Wed, 25 Sep 2024	CA$18.2b	CA$11.5b	-CA$2,681,194,968.09	22.3x	-6.8x	1.6x
Fri, 23 Aug 2024	CA$19.1b	CA$11.6b	-CA$2,740,651,649.84	22.1x	-7x	1.6x
Sun, 21 Jul 2024	CA$19.9b	CA$11.7b	-CA$3,194,960,492.45	19.1x	-6.2x	1.7x
Tue, 18 Jun 2024	CA$19.3b	CA$11.8b	-CA$2,768,561,357.86	13.2x	-7x	1.6x
Thu, 16 May 2024	CA$25.1b	CA$11.9b	-CA$3,382,515,858.62	14x	-7.4x	2.1x
Sat, 13 Apr 2024	CA$25.1b	CA$12.0b	-CA$3,481,209,415.07	9x	-7.2x	2.1x
Mon, 11 Mar 2024	CA$19.8b	CA$11.9b	-CA$3,898,781,168.64	7.5x	-5.1x	1.7x
Wed, 07 Feb 2024	CA$24.6b	CA$11.9b	-CA$5,870,658,421.24	13.4x	-4.2x	2.1x
Fri, 05 Jan 2024	CA$18.7b	CA$12.3b	-CA$6,731,741,101.00	9.5x	-2.8x	1.5x
Sun, 03 Dec 2023	CA$18.1b	CA$12.4b	-CA$6,759,446,881.00	8.7x	-2.7x	1.5x
Tue, 31 Oct 2023	CA$14.5b	CA$12.5b	-CA$7,368,500,844.00	11x	-2x	1.2x
Thu, 28 Sep 2023	CA$20.2b	CA$13.0b	-CA$7,891,803,270.00	13.8x	-2.6x	1.6x


CA Market	0.25%
Healthcare	-1.83%
Pharma	-2.84%
Pharma	-2.84%

Company	Last Price	7D	1Y	Valuation
CURA Curaleaf Holdings	CA$14.66	10.3% +CA$362.8m	36.5%	PS2.1x
CRON Cronos Group	CA$4.67	8.1% +CA$128.9m	29.7%	PE17.6x
GTII Green Thumb Industries	CA$10.20	2.9% +CA$63.4m	-8.2%	PE12.6x
XLY Auxly Cannabis Group	CA$3.66	11.9% +CA$40.3m	86.7%	PE11.6x
GUD Knight Therapeutics	CA$10.25	4.1% +CA$39.3m	64.5%	PE67.7x

Announcement • Sep 15

Knight Therapeutics Announces Regulatory Submission Of GEMTESA In Canada

Knight Therapeutics Inc. announced that Knight’s New Drug Submission (NDS) for GEMTESA (vibegron), proposed for the treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency in adults, and OAB with symptoms of urge urinary incontinence, urgency, urinary frequency, and nocturia in adult males on pharmacological therapy for benign prostatic hyperplasia (BPH), has been accepted for review by Health Canada. In June 2025, Knight entered into exclusive supply and distribution agreements with Sumitomo’s Pharma America (SMPA) to commercialize GEMTESA, as well as ORGOVYX (relugolix) and MYFEMBREE (relugolix/estradiol/norethindrone acetate) in Canada. GEMTESA (vibegron) is marketed in the US for the treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency, and urinary frequency in adults and in adult males taking medication for benign prostatic hyperplasia (BPH). GEMTESA works by selectively targeting ß3 adrenergic receptors to reduce OAB symptoms through the relaxation of the bladder detrusor muscle to increase capacity. Overactive Bladder (OAB) is a symptom syndrome characterized by urinary urgency, usually accompanied by increased urinary frequency and nocturia, with or without urgency incontinence, in the absence of urinary tract infection (UTI) or other obvious pathology. These symptoms are commonly associated with involuntary contractions of the detrusor muscle, although they can also result from other forms of lower urinary tract dysfunction. The pooled global prevalence of OAB was estimated at approximately 20%, with prevalence higher in women (nearly 22%) than in men (roughly 16%). Canadian population based estimates reported in the Canadian Urological Association (CUA) guideline from May 2017 indicate an overall prevalence of approximately 14 to 18%, with prevalence increasing with age. Benign Prostatic Hyperplasia (BPH) is a histologic diagnosis describing the proliferation of smooth muscle and epithelial cells within the prostatic transition zone, which commonly leads to enlargement of the prostate gland. In men presenting with lower urinary tract symptoms (LUTS), the symptoms are frequently presumed to arise from bladder outlet obstruction caused by the enlarged prostate. Even when the bladder outflow obstruction is relieved surgically, storage symptoms consistent with overactive bladder (OAB) may persist; detrusor overactivity has been reported in approximately 20% to 40% of men. LUTS are conventionally dividend into storage, voiding, and postmicturition symptoms. In the population-based EPIC study, storage symptoms were the most prevalent category among men (51.3%), exceeding both voiding (25.7%) and postmicturition (16.9%) symptoms. BPH becomes increasingly prevalent with age, and symptoms of OAB, which are often associated with BPH, are frequently misattributed to normal aging. In the United States, approximately 14 million men are living with BPH, and up to 75% of these individuals experience OAB symptoms. Despite this high prevalence, OAB symptoms in men often remain unrecognized, particularly in those with underlying BPH. It is estimated that up to 80% of OAB cases in men may go undiagnosed. The COURAGE trial (NCT03902080; URO-901-3005) was a Phase 3, multicenter, randomized, double-blind, placebo-controlled study evaluating GEMTESA 75 mg once daily versus placebo over 24 weeks in men =45 years of age with symptoms of overactive bladder (OAB) who were receiving pharmacological therapy with a-blockers, with or without 5a-reductase inhibitors, for BPH. Of 1,105 participants randomized 1:1 to vibegron or placebo, 965 (87.3%) completed the trial. The study met both co-primary endpoints at Week 12, demonstrating statistically significant reductions from baseline versus placebo in mean daily micturitions (least squares mean difference -0.74; 95% CI -1.02, -0.46; P < .0001) and urgency episodes (-0.95; 95% CI -1.37, -0.54; P < .0001). GEMTESA also met all prespecified secondary endpoints, with significant reductions versus placebo in nocturia episodes and urge urinary incontinence (UUI) episodes. Adverse events occurring in = 2% of participants were hypertension, COVID-19, UTI, and hematuria. EMPOWUR was a 12-week, double-blind, placebo-controlled Phase 3 study evaluating vibegron 75 mg versus placebo in adults with OAB, as part of an extensive development program involving more than 4,000 OAB patients. The study demonstrated that treatment with GEMTESA resulted in statistically significant reductions in daily urge urinary incontinence episodes, micturition episodes, and urgency episodes, as well as an increase in volume voided, compared to placebo. A long-term extension of the EMPOWUR study was also conducted under double-blind conditions. The most common adverse reactions reported in 2% or more of patients treated with GEMTESA were headache, nasopharyngitis, diarrhea, nausea, and upper respiratory tract infection.

Announcement • Aug 21

Verano Holdings Corp. Launches Easy Landings Cannabis Beverage Brand Featuring Four Flavors

Verano Holdings Corp. announced the launch of Easy Landings, the Company’s first dedicated beverage brand. Easy Landings will initially be available for purchase starting August 21 at Verano’s Zen Leaf dispensaries and third-party partners in four core Verano markets - Arizona, Illinois, Nevada, followed by New Jersey on August 28 - with plans to scale across additional states in 2026 and beyond. Easy Landings 100 mg single serve beverages feature four delicious flavors with all natural, vegan and gluten free ingredients designed for sipping straight or mixing into the beverage of your choice. Designed to bring precision, flavor and flexibility to any occasion, Easy Landings beverages are crafted to be mixed seamlessly into any drink for a custom mocktail or enjoyed on their own. Initially launching in four delicious flavors including Lemon Lime, Watermelon, Mango and Black Cherry, Easy Landings beverages optimize taste, adaptability and simple dose control in a portable and flexible format. Each 2 oz (60 ml) bottle of Easy Landings contains 100 mg of fast-acting THC, curated flavors and formulas to induce a predictable experience, with a capful measuring 5 mg of THC per serving. Easy Landings aims to engage a variety of consumers by tapping into existing demand for THC beverages and capitalizing on multiple trends, including the continued decline in alcohol consumption and growing popularity of macrodose edibles products. In 2025 alone, full year cannabis beverage dispensary sales grew 13% across all markets in which the Company operates, with non-carbonated beverages and shots experiencing the highest rate of growth. Given the category’s ongoing growth and the pending closure of the 2018 Farm Bill loophole that unintentionally created a multi-billion dollar hemp-derived THC beverage market, Easy Landings is well positioned to capitalize on existing demand as a brand new, all-natural alternative for consumers seeking cannabis beverages that are delicious, safe, tested and regulated. Easy Landings beverages are initially available in four delicious flavors and experiences, including: Lemon Lime “Refresh” - Energizing Sativa for Daytime, Social and Active Settings: Subtly sweet and perfectly sour, lemon lime pairs well with any beverage, or on its own. Watermelon “Reset” - Balanced Hybrid for Any Occasion: Tap into your nostalgic side with a juicy watermelon elixir made to enhance your favorite beverage or be sipped solo. Mango “Relax” - Perfect Indica for the Evening Wind-Down: Lush tropical notes meet THC for a vacation-in-a-bottle elixir that can be used to top off any ice-cold beverage or enjoyed on its own. Black Cherry “Rest” - 1:2 CBN/THC Indica for Nighttime Relaxation: Delightfully tart and crafted with R&R in mind, black cherry promises a departure from the everyday. The bold, bittersweet flavor and mellow blend of THC and CBN upgrade your evening routine with intention, promoting restful and ready vibes for your next adventure.

Canadian (TSX) Pharma Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Apotex Health Corp. has completed a Follow-on Equity Offering in the amount of CAD 850 million.

Cresco Labs Inc. Announces Appointment of Edward Tilly as Independent Director and Audit Committee Member, Effective September 18, 2026

Curaleaf Holdings, Inc. Announces Relocation of Hartford Dispensary to Meriden, Connecticut

Knight Therapeutics Announces Regulatory Submission Of GEMTESA In Canada

Independent Chairman exercised options to buy CA$138k worth of stock.

Now 24% undervalued after recent price drop

Cronos Group Inc. Expands Spinach Brand with New Edible Multipack and Vape Flavors

New minor risk - Profitability

Vireo Growth Inc. (CNSX:VREO) completed the acquisition of C21 Investments Inc. (CNSX:CXXI).

Verano Holdings Corp. Launches Easy Landings Cannabis Beverage Brand Featuring Four Flavors

Consensus revenue estimates increase by 10%

New major risk - Financial position

TSND: Disciplined M&A And Capital Moves Will Support Future Upside

The Green Thumb Industries Inc. (CSE:GTII) Second-Quarter Results Are Out And Analysts Have Published New Forecasts

An undisclosed buyer agreed to acquire Etain, LLC from FLUENT Corp. (CNSX:FNT.U).

LIR Life Sciences Corp. Completes Comparative Animal Study Showing Successful Protamine-Enhanced Permeation Transport of Both Semaglutide and Tirzepatide