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Canadian (TSX) Pharma Industry Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies59
  • 7D4.0%
  • 3M-3.1%
  • 1Y24.2%
  • YTD2.5%

Over the last 7 days, the Pharma industry has risen 4.0%, driven by gains from Curaleaf Holdings of 12%. In the last 12 months, the industry was up 24%. Looking forward, earnings are forecast to grow by 65% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 16 Jan 2026CA$16.7bCA$11.3b-CA$1,957,659,260.2716.3x-8.6x1.5x
Sun, 14 Dec 2025CA$19.2bCA$11.2b-CA$1,911,998,737.3214.8x-10x1.7x
Tue, 11 Nov 2025CA$15.2bCA$11.3b-CA$1,876,410,918.5517.8x-8.1x1.4x
Thu, 09 Oct 2025CA$18.4bCA$11.2b-CA$2,036,511,751.4235.8x-9x1.6x
Sat, 06 Sep 2025CA$15.9bCA$11.2b-CA$2,031,100,344.4338.1x-7.8x1.4x
Mon, 04 Aug 2025CA$11.8bCA$11.8b-CA$2,580,662,352.2716.7x-4.6x1x
Wed, 02 Jul 2025CA$9.7bCA$11.7b-CA$2,515,850,664.9517x-3.8x0.8x
Fri, 30 May 2025CA$23.2bCA$11.8b-CA$2,396,620,795.0717.5x-9.7x2x
Sun, 27 Apr 2025CA$10.5bCA$11.9b-CA$2,537,137,906.5420.2x-4.1x0.9x
Tue, 25 Mar 2025CA$10.5bCA$12.3b-CA$2,567,787,653.6519.9x-4.1x0.9x
Thu, 20 Feb 2025CA$12.3bCA$12.1b-CA$2,212,835,656.1422.9x-5.5x1x
Sat, 18 Jan 2025CA$12.2bCA$12.2b-CA$2,421,943,229.6529.8x-5x1x
Mon, 16 Dec 2024CA$12.7bCA$12.0b-CA$2,588,051,717.1821.9x-4.9x1.1x
Wed, 13 Nov 2024CA$13.0bCA$11.9b-CA$2,631,380,295.5615.1x-4.9x1.1x
Fri, 11 Oct 2024CA$18.3bCA$11.7b-CA$2,697,603,068.9017.2x-6.8x1.6x
Sun, 08 Sep 2024CA$17.1bCA$11.6b-CA$2,699,993,509.6420x-6.4x1.5x
Tue, 06 Aug 2024CA$18.8bCA$11.7b-CA$3,096,658,580.3919.3x-6.1x1.6x
Thu, 04 Jul 2024CA$18.8bCA$11.7b-CA$3,225,203,624.5719.2x-5.8x1.6x
Sat, 01 Jun 2024CA$21.1bCA$11.9b-CA$3,474,747,660.6412.8x-6.1x1.8x
Mon, 29 Apr 2024CA$22.9bCA$11.8b-CA$3,444,223,192.038.4x-6.7x1.9x
Wed, 27 Mar 2024CA$23.2bCA$11.9b-CA$3,504,102,648.099.3x-6.6x2x
Fri, 23 Feb 2024CA$21.8bCA$12.0b-CA$4,642,695,320.799.4x-4.7x1.8x
Sun, 21 Jan 2024CA$20.4bCA$12.3b-CA$6,754,384,129.009.6x-3x1.6x
Tue, 19 Dec 2023CA$17.6bCA$12.3b-CA$6,738,434,260.008.2x-2.6x1.4x
Thu, 16 Nov 2023CA$17.5bCA$12.4b-CA$6,689,449,134.008.6x-2.6x1.4x
Sat, 14 Oct 2023CA$18.3bCA$12.4b-CA$7,333,238,247.0013.2x-2.5x1.5x
Mon, 11 Sep 2023CA$20.7bCA$13.0b-CA$7,922,680,059.0015.2x-2.6x1.6x
Wed, 09 Aug 2023CA$15.1bCA$13.3b-CA$9,749,939,151.0012x-1.5x1.1x
Fri, 07 Jul 2023CA$16.0bCA$13.3b-CA$9,544,539,622.0012x-1.7x1.2x
Sun, 04 Jun 2023CA$14.7bCA$13.3b-CA$10,414,249,790.0010.6x-1.4x1.1x
Tue, 02 May 2023CA$15.7bCA$13.4b-CA$9,951,802,046.0011.8x-1.6x1.2x
Thu, 30 Mar 2023CA$16.9bCA$13.7b-CA$9,932,350,353.009.1x-1.7x1.2x
Sat, 25 Feb 2023CA$19.5bCA$13.7b-CA$10,327,698,881.0010.6x-1.9x1.4x
Mon, 23 Jan 2023CA$20.2bCA$13.5b-CA$10,093,346,696.0014.6x-2x1.5x
Price to Earnings Ratio

-2x


Total Market Cap: CA$20.2bTotal Earnings: -CA$10,093,346,696.00Total Revenue: CA$13.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Pharma Industry Price to Earnings3Y Average -4.7x202420252026
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 5.7% 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 Market2.82%
Healthcare2.75%
Pharma4.00%
Pharma4.00%
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
CURA Curaleaf HoldingsCA$3.8311.7%
+CA$311.3m		96.4%PS1.7x
TRUL Trulieve CannabisCA$12.408.4%
+CA$162.5m		80.8%PS1.3x
CL Cresco LabsCA$1.8914.5%
+CA$86.2m		46.5%PS0.7x
GTII Green Thumb IndustriesCA$11.683.3%
+CA$85.9m		14.3%PE44.7x
WEED Canopy GrowthCA$1.713.0%
+CA$61.9m		-46.4%PS2.3x

Latest News

VRNO
CA$1.84
Verano Holdings
7D
8.9%
1Y
11.5%
CPH
CA$15.56
Cipher Pharmaceuticals
7D
6.4%
1Y
13.0%

CPH: Share Repurchases Will Support Stronger Future Earnings Profile

Analysts have trimmed their price target on Cipher Pharmaceuticals by aligning slightly lower revenue growth and profit margin assumptions with a modestly higher future P/E. This keeps fair value around $18.60 and reflects a more measured outlook on the company’s earnings profile.
TRUL
CA$12.40
Trulieve Cannabis
7D
8.4%
1Y
80.8%

TRUL: Retail Expansion And Rescheduling Progress Will Support Higher Future Earnings Multiples

Analysts have made a small upward adjustment to their Trulieve Cannabis fair value estimate, reflecting only modest tweaks to long term profit margin and future P/E assumptions rather than a wholesale shift in their outlook. Analyst Commentary Recent Street research around comparable business services and data providers offers some useful clues for how analysts may be thinking about Trulieve Cannabis valuation and execution, even though the coverage is focused on different companies.
WEED
CA$1.71
Canopy Growth
7D
3.0%
1Y
-46.4%

WEED: Medical And Adult Use Product Expansion Will Drive Future Upside

Analysts have made only very small tweaks to their inputs for Canopy Growth, keeping the fair value estimate steady at $3.76 while slightly adjusting assumptions for discount rate, revenue growth, profit margin, and future P/E. Together, these changes support a largely unchanged price target outlook.
HITI
CA$3.60
High Tide
7D
-2.7%
1Y
-19.6%
CL
CA$1.89
Cresco Labs
7D
14.5%
1Y
46.5%

CL: German Entry And Higher Margins Will Support Future Upside

Analysts have raised their price target for Cresco Labs from US$2.30 to about US$2.36, reflecting updated views on the company’s profit margin outlook and a lower assumed future P/E multiple. What's in the News Cresco Labs launched Cresco branded flower in Germany, marking its first commercial entry into the European Union and extending its growth plans beyond the U.S. cannabis market (Key Developments).
CURA
CA$3.83
Curaleaf Holdings
7D
11.7%
1Y
96.4%

CURA: Regulatory Shifts Will Widen Moat And Support Destination Brand Position

Analysts have lifted their price target on Curaleaf Holdings to C$5.00 from C$4.81, pointing to regulatory momentum and what they see as a stronger product offering that could help the company reinforce its position with consumers. Analyst Commentary Recent commentary has focused on how regulatory shifts and Curaleaf's product positioning could influence the company’s valuation and execution over time.
TSND
CA$1.15
TerrAscend
7D
6.5%
1Y
47.4%

TSND: Expanded Mid Atlantic Footprint And Licensing Will Support Higher Profitability

Analysts have nudged their price target on TerrAscend toward about $2.00, reflecting updated views that incorporate higher projected profit margins, a lower assumed future P/E multiple near 43, and adjusted revenue expectations. What's in the News Closed the previously announced transaction with Union Chill Cannabis Company LLC, adding a high performing dispensary in Hunterdon County and bringing TerrAscend's New Jersey retail footprint to four dispensaries (Key Developments).
GTII
CA$11.68
Green Thumb Industries
7D
3.3%
1Y
14.3%

Here's Why Green Thumb Industries (CSE:GTII) Can Manage Its Debt Responsibly

Jan 06
Here's Why Green Thumb Industries (CSE:GTII) Can Manage Its Debt Responsibly
HLS
CA$4.56
HLS Therapeutics
7D
-4.2%
1Y
16.3%

HLS: Higher Rating Outlook Will Balance Execution Risks And Near Term Guidance

Analysts lifted their price target for HLS Therapeutics to C$7 from C$6, citing updated assumptions around fair value, discount rate, revenue growth, profit margins and a lower future P/E multiple in their models. Analyst Commentary Even with the price target now set at C$7, some research commentary still reads as cautious.
NGEN
CA$7.64
NervGen Pharma
7D
-2.3%
1Y
154.7%
VREO
CA$0.80
Vireo Growth
7D
-3.6%
1Y
14.3%
OGI
CA$2.25
Organigram Global
7D
-4.3%
1Y
2.7%

Organigram Global Inc. (TSE:OGI) Soars 33% But It's A Story Of Risk Vs Reward

Dec 19
Organigram Global Inc. (TSE:OGI) Soars 33% But It's A Story Of Risk Vs Reward
CRON
CA$3.66
Cronos Group
7D
-1.6%
1Y
30.2%
SKNY
CA$1.87
LIR Life Sciences
7D
-14.6%
1Y
n/a
BNXT
CA$0.51
BioNxt Solutions
7D
-19.0%
1Y
34.2%