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Canadian (TSX) Pharma Industry Analysis

UpdatedApr 10, 2026
DataAggregated Company Financials
Companies55
  • 7D-0.2%
  • 3M-12.7%
  • 1Y54.9%
  • YTD-12.1%

Last week, the Pharma industry hasn't moved much but Trulieve Cannabis is up 4.6% in that time. As for the the longer term, the industry is up 55% over the past 12 months. As for the next few years, earnings are expected to grow by 49% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 10 Apr 2026CA$14.0bCA$11.3b-CA$1,655,929,936.8212.5x-8.5x1.2x
Sun, 08 Mar 2026CA$14.5bCA$11.2b-CA$1,907,731,800.6713.2x-7.6x1.3x
Tue, 03 Feb 2026CA$14.3bCA$11.2b-CA$1,975,794,009.7415.7x-7.2x1.3x
Thu, 01 Jan 2026CA$16.0bCA$11.2b-CA$1,940,801,790.3816.6x-8.3x1.4x
Sat, 29 Nov 2025CA$13.5bCA$11.3b-CA$1,919,443,428.8314.7x-7x1.2x
Mon, 27 Oct 2025CA$16.7bCA$11.3b-CA$2,039,568,629.5435.1x-8.2x1.5x
Wed, 24 Sep 2025CA$15.7bCA$11.2b-CA$2,034,152,765.3138.6x-7.7x1.4x
Fri, 22 Aug 2025CA$16.1bCA$11.9b-CA$2,559,255,120.7837.5x-6.3x1.4x
Sun, 20 Jul 2025CA$10.4bCA$11.7b-CA$2,547,021,881.3219.2x-4.1x0.9x
Tue, 17 Jun 2025CA$9.7bCA$11.6b-CA$2,503,229,248.1318.4x-3.9x0.8x
Thu, 15 May 2025CA$9.1bCA$10.3b-CA$2,251,388,782.8719.6x-4.1x0.9x
Sat, 12 Apr 2025CA$8.8bCA$12.0b-CA$2,577,192,928.8018.3x-3.4x0.7x
Mon, 10 Mar 2025CA$11.1bCA$12.3b-CA$2,628,439,303.1622.6x-4.2x0.9x
Wed, 05 Feb 2025CA$12.0bCA$12.1b-CA$2,376,628,633.8226x-5x1x
Fri, 03 Jan 2025CA$13.0bCA$12.2b-CA$2,414,440,186.8128.8x-5.4x1.1x
Sun, 01 Dec 2024CA$14.2bCA$11.9b-CA$2,564,798,581.6521.1x-5.6x1.2x
Tue, 29 Oct 2024CA$20.5bCA$11.8b-CA$2,718,283,629.6318.4x-7.5x1.7x
Thu, 26 Sep 2024CA$18.5bCA$11.6b-CA$2,686,505,176.7026.8x-6.9x1.6x
Sat, 24 Aug 2024CA$18.6bCA$11.5b-CA$2,732,782,268.0322.9x-6.8x1.6x
Mon, 22 Jul 2024CA$19.9bCA$11.7b-CA$3,194,960,492.4519.1x-6.2x1.7x
Wed, 19 Jun 2024CA$19.6bCA$11.8b-CA$2,768,172,910.4713.2x-7.1x1.7x
Fri, 17 May 2024CA$24.9bCA$11.9b-CA$3,505,156,044.1414.2x-7.1x2.1x
Sun, 14 Apr 2024CA$25.1bCA$12.0b-CA$3,481,209,415.079x-7.2x2.1x
Tue, 12 Mar 2024CA$18.8bCA$11.9b-CA$3,896,746,968.777.3x-4.8x1.6x
Thu, 08 Feb 2024CA$24.7bCA$11.9b-CA$5,865,262,158.8913.1x-4.2x2.1x
Sat, 06 Jan 2024CA$18.9bCA$12.3b-CA$6,734,375,229.009.9x-2.8x1.5x
Mon, 04 Dec 2023CA$18.1bCA$12.4b-CA$6,759,446,881.008.7x-2.7x1.5x
Wed, 01 Nov 2023CA$15.5bCA$12.5b-CA$7,380,815,777.0010.9x-2.1x1.2x
Fri, 29 Sep 2023CA$20.3bCA$13.0b-CA$7,887,830,306.0013.6x-2.6x1.6x
Sun, 27 Aug 2023CA$13.8bCA$13.1b-CA$8,126,028,354.0014.7x-1.7x1.1x
Tue, 25 Jul 2023CA$14.5bCA$13.1b-CA$9,698,637,833.0012.1x-1.5x1.1x
Thu, 22 Jun 2023CA$15.0bCA$13.1b-CA$9,382,436,456.0012.8x-1.6x1.1x
Sat, 20 May 2023CA$15.1bCA$13.3b-CA$10,456,135,368.0010.4x-1.4x1.1x
Mon, 17 Apr 2023CA$15.1bCA$13.2b-CA$9,929,654,529.0010x-1.5x1.1x
Price to Earnings Ratio

-1.5x


Total Market Cap: CA$15.1bTotal Earnings: -CA$9,929,654,529.00Total Revenue: CA$13.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Pharma Industry Price to Earnings3Y Average -5.2x202420252026
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 5.3% 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 Market1.31%
Healthcare1.42%
Pharma-0.20%
Pharma-0.20%
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$8.874.6%
+CA$75.3m		91.6%PS1x
WEED Canopy GrowthCA$1.507.1%
+CA$38.1m		26.1%PS2.1x
GUD Knight TherapeuticsCA$7.652.7%
+CA$19.6m		40.9%PS1.7x
OGI Organigram GlobalCA$2.014.7%
+CA$12.3m		52.3%PE15.1x
MDP Medexus PharmaceuticalsCA$3.8710.6%
+CA$12.0m		82.5%PS0.9x

Latest News

VREO
CA$0.54
Vireo Growth
7D
-1.8%
1Y
0%
TRUL
CA$8.87
Trulieve Cannabis
7D
4.6%
1Y
91.6%

TRUL: Higher Margin Profile And Rich Future P/E May Support Repricing

Analysts have lifted their fair value estimate for Trulieve Cannabis to CA$20.36 from CA$19.53, citing updated assumptions that reflect more conservative revenue growth, a higher profit margin profile, and a very large future P/E multiple that aligns with recent Street research patterns of recalibrating price targets while keeping core views intact. Analyst Commentary Street research across sectors shows a pattern of price target resets that keep long term theses largely intact, and this context helps frame how to read the updated fair value for Trulieve Cannabis.
CWEB
CA$0.78
Charlotte's Web Holdings
7D
-23.5%
1Y
642.9%
GUD
CA$7.65
Knight Therapeutics
7D
2.7%
1Y
40.9%

GUD: Updated 2026 Guidance And Margin Outlook Will Support Bullish Repricing

Analysts have lifted their price target on Knight Therapeutics by CA$0.50, citing updated assumptions around revenue growth, profit margins and future P/E expectations. Analyst Commentary Recent research points to a more constructive stance on Knight Therapeutics, with bullish analysts adjusting their models to reflect updated views on revenue trajectories, margin sustainability and future P/E assumptions.
CL
CA$1.29
Cresco Labs
7D
-3.7%
1Y
63.3%

CL: Revised Outlook Will Support Future Upside From Speculative Buy Rating

Analysts have reduced their price target on Cresco Labs to CA$2.25 from CA$2.50, citing updated assumptions regarding fair value, discount rates, revenue growth, profit margins, and future P/E expectations. Analyst Commentary Analysts have adjusted their view on Cresco Labs by trimming the price target to CA$2.25 from CA$2.50 while maintaining a Speculative Buy stance, which reflects both perceived upside potential and meaningful execution risk.
VRNO
CA$1.60
Verano Holdings
7D
-5.3%
1Y
116.2%

VRNO: Federal Reform Timing Will Drive Repricing As Operations Stay On Track

Analysts have adjusted Verano Holdings' CA$ price target to CA$5, reflecting updated assumptions around modest changes in fair value, discount rate, revenue growth, profit margin, and future P/E based on recent research that cites in-line Q4 results along with ongoing uncertainty around federal reform timing. Analyst Commentary Recent Street commentary around Verano Holdings centers on how updated price targets reflect a balance between in-line quarterly results and persistent uncertainty around federal reform timing.
TSND
CA$0.88
TerrAscend
7D
-6.4%
1Y
107.1%

TSND: New Brand Partnership And Share Buyback Will Support Future Upside

Analysts have nudged their TerrAscend price target modestly higher to reflect updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News TerrAscend announced the official launch of TYSON 2.0 products in Pennsylvania and Maryland, covering premium flower and high potency vape products under its exclusive partnership with the brand (Key Developments).
WEED
CA$1.50
Canopy Growth
7D
7.1%
1Y
26.1%
CRDL
CA$1.88
Cardiol Therapeutics
7D
-5.1%
1Y
51.6%
GTII
CA$9.44
Green Thumb Industries
7D
-2.7%
1Y
34.9%
CURA
CA$3.37
Curaleaf Holdings
7D
0.3%
1Y
215.0%

CURA: Domestic Stabilization Efforts Will Support Bullish Re Rating

Analysts now see Curaleaf's fair value drifting slightly higher, even as the average Street price target edges down from CA$6.00 to CA$5.50. They cite recent sales results and efforts to steady the core business while keeping international growth in focus.
MVMD
CA$0.045
Mountain Valley MD Holdings
7D
-43.8%
1Y
28.6%
CRON
CA$3.54
Cronos Group
7D
0.6%
1Y
52.6%
MDP
CA$3.87
Medexus Pharmaceuticals
7D
10.6%
1Y
82.5%

MDP: Share Repurchase And Higher Margin Outlook Will Support Future Upside

Analysts have modestly lifted their price target on Medexus Pharmaceuticals to CA$8.00, reflecting slightly higher modeled revenue growth, a small uptick in profit margin assumptions, and a marginally lower future P/E multiple. What's in the News Medexus Pharmaceuticals completed a share repurchase of 191,900 shares from November 20, 2025 to December 31, 2025, representing 0.59% of its shares, for a total of CA$0.52 million under its previously announced buyback program (Key Developments).
RX
CA$15.12
BioSyent
7D
1.7%
1Y
51.2%
OGI
CA$2.01
Organigram Global
7D
4.7%
1Y
52.3%