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Swiss (SMI) Pharma Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies9
  • 7D2.7%
  • 3M20.2%
  • 1Y32.3%
  • YTD29.6%

In the last week, Pharma has been flat. The past year has been better, since the industry has gained 31% in that time. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025CHF 563.6bCHF 120.7bCHF 21.4b34.5x26.3x4.7x
Fri, 21 Nov 2025CHF 523.7bCHF 121.8bCHF 21.6b35.1x24.2x4.3x
Sun, 19 Oct 2025CHF 503.9bCHF 119.9bCHF 20.9b33.2x24.1x4.2x
Tue, 16 Sep 2025CHF 472.9bCHF 120.0bCHF 20.9b31.5x22.6x3.9x
Thu, 14 Aug 2025CHF 459.9bCHF 120.8bCHF 21.1b30.9x21.8x3.8x
Sat, 12 Jul 2025CHF 460.4bCHF 117.2bCHF 18.9b25.3x24.3x3.9x
Mon, 09 Jun 2025CHF 457.0bCHF 119.0bCHF 19.3b25.8x23.7x3.8x
Wed, 07 May 2025CHF 443.1bCHF 118.9bCHF 19.2b26.1x23.1x3.7x
Fri, 04 Apr 2025CHF 447.8bCHF 120.2bCHF 18.9b26.8x23.7x3.7x
Sun, 02 Mar 2025CHF 480.3bCHF 122.6bCHF 19.2b23.3x25.1x3.9x
Tue, 28 Jan 2025CHF 450.4bCHF 119.1bCHF 21.3b19.2x21.1x3.8x
Thu, 26 Dec 2024CHF 420.4bCHF 119.1bCHF 21.3b17.7x19.7x3.5x
Sat, 23 Nov 2024CHF 434.5bCHF 118.7bCHF 21.3b18.4x20.4x3.7x
Mon, 21 Oct 2024CHF 464.3bCHF 115.8bCHF 19.5b22x23.8x4x
Wed, 18 Sep 2024CHF 451.2bCHF 114.7bCHF 19.3b21.6x23.4x3.9x
Fri, 16 Aug 2024CHF 466.7bCHF 116.3bCHF 19.5b21.9x23.9x4x
Sun, 14 Jul 2024CHF 447.4bCHF 116.1bCHF 19.7b34.6x22.7x3.9x
Tue, 11 Jun 2024CHF 426.0bCHF 116.3bCHF 19.8b43.9x21.6x3.7x
Thu, 09 May 2024CHF 399.3bCHF 113.3bCHF 19.9b40.5x20x3.5x
Sat, 06 Apr 2024CHF 395.4bCHF 112.0bCHF 19.4b37.1x20.4x3.5x
Mon, 04 Mar 2024CHF 388.1bCHF 110.5bCHF 19.7b24.3x19.7x3.5x
Wed, 31 Jan 2024CHF 413.3bCHF 120.0bCHF 18.7b27.1x22.1x3.4x
Fri, 29 Dec 2023CHF 391.2bCHF 118.6bCHF 18.5b25.2x21.1x3.3x
Sun, 26 Nov 2023CHF 393.3bCHF 121.3bCHF 18.9b24.8x20.8x3.2x
Tue, 24 Oct 2023CHF 389.2bCHF 120.9bCHF 18.5b25.6x21x3.2x
Thu, 21 Sep 2023CHF 410.5bCHF 112.6bCHF 18.0b46.8x22.8x3.6x
Sat, 19 Aug 2023CHF 401.9bCHF 111.9bCHF 17.9b47.2x22.4x3.6x
Mon, 17 Jul 2023CHF 408.4bCHF 113.4bCHF 18.6b36.9x21.9x3.6x
Wed, 14 Jun 2023CHF 427.1bCHF 115.6bCHF 18.9b38x22.5x3.7x
Fri, 12 May 2023CHF 434.7bCHF 115.1bCHF 18.9b40.7x23x3.8x
Sun, 09 Apr 2023CHF 431.3bCHF 115.2bCHF 18.9b42.4x22.8x3.7x
Tue, 07 Mar 2023CHF 397.7bCHF 116.6bCHF 19.1b27x20.8x3.4x
Thu, 02 Feb 2023CHF 430.9bCHF 117.7bCHF 34.8b23.8x12.4x3.7x
Sat, 31 Dec 2022CHF 436.3bCHF 117.1bCHF 34.6b22.5x12.6x3.7x
Price to Earnings Ratio

12.6x


Total Market Cap: CHF 436.3bTotal Earnings: CHF 34.6bTotal Revenue: CHF 117.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Swiss Pharma Industry Price to Earnings3Y Average 21.9x202320242025
Current Industry PE
  • Investors are optimistic on the Swiss Pharmaceuticals industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 26.0x which is higher than its 3-year average PE of 21.9x.
  • The 3-year average PS ratio of 3.7x is lower than the industry's current PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Pharmaceuticals industry have declined 15% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

CH Market1.46%
Healthcare2.50%
Pharma2.66%
Pharma2.66%
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
ROG Roche HoldingCHF 329.602.9%
+CHF 7.8b		31.3%PE29.7x
NOVN NovartisCHF 110.102.4%
+CHF 5.0b		25.6%PE18.6x
SDZ Sandoz GroupCHF 58.623.8%
+CHF 913.1m		58.2%PE140.8x
GALD Galderma GroupCHF 164.101.3%
+CHF 498.6m		66.9%PE130.5x
DESN Dottikon ES HoldingCHF 341.004.0%
+CHF 179.7m		57.5%PE39x

Latest News

SDZ
CHF 58.62
Sandoz Group
7D
3.8%
1Y
58.2%

SDZ: Elevated Expectations Will Face Execution Risks In Biosimilars Expansion

Sandoz Group's analyst price target has been lifted by roughly CHF 6.50 to around CHF 60, as analysts now factor in stronger revenue growth, modestly higher profit margins, and a richer forward valuation multiple. Analyst Commentary Recent Street research has been broadly constructive on Sandoz Group, with several major firms lifting their price targets into the CHF 49 to CHF 60 range and maintaining positive ratings.
NWRN
CHF 23.65
Newron Pharmaceuticals
7D
17.7%
1Y
178.6%
GALD
CHF 164.10
Galderma Group
7D
1.3%
1Y
66.9%
ROG
CHF 329.60
Roche Holding
7D
2.9%
1Y
31.3%

ROG: Pipeline Data And Digital Execution Will Shape Balanced Risk Reward Ahead

Analysts have nudged their fair value estimate for Roche Holding higher, lifting the target by about CHF 11.50 to reflect slightly stronger long term revenue growth and margin assumptions supported by recent positive readthroughs from partners, incremental pipeline visibility, and a modest firming in Street price targets. Analyst Commentary Bullish analysts emphasize that recent partner updates and pipeline milestones are incrementally improving sentiment on Roche, supporting the view that medium term growth and margin visibility are strengthening despite a still mixed backdrop.
NOVN
CHF 110.10
Novartis
7D
2.4%
1Y
25.6%

NOVN: Future Returns Will Reflect Pipeline Progress And Expanding US Manufacturing

Analysts have modestly raised their price target on Novartis to approximately $109 from about $105. This change reflects a higher expected future valuation multiple, which more than offsets slightly lower long term revenue growth and profit margin assumptions.
COPN
CHF 105.20
Cosmo Pharmaceuticals
7D
7.3%
1Y
71.9%

COPN: EU Authorization And Launch Partnership Are Expected To Support Balanced Outlook

Analysts have nudged their price target for Cosmo Pharmaceuticals slightly higher to approximately $98.72 per share from about $98.59, citing expectations for stronger revenue growth that more than offset a modestly lower projected profit margin and valuation multiple. What's in the News European Commission grants Marketing Authorization for Winlevi clascoterone 10 mg/g cream for treatment of acne vulgaris in adults and adolescents aged 12 to under 18 years, with adolescent use restricted to facial application EU Marketing Authorization Approval follows a positive CHMP opinion issued on August 25, 2025, confirming regulatory momentum for Cosmo Pharmaceuticals dermatology portfolio EU Marketing Authorization Commercial launch of Winlevi to be led by partner Glenmark Pharmaceuticals across 15 European countries, including France, Spain, the Netherlands, and the Nordics, expanding Cosmo Pharmaceuticals geographic reach EU Marketing Authorization Valuation Changes Fair Value Estimate has risen slightly to CHF 98.72 from CHF 98.59 per share, reflecting a marginal upward revision to intrinsic value.
DESN
CHF 341.00
Dottikon ES Holding
7D
4.0%
1Y
57.5%
BIOV
CHF 25.00
BioVersys
7D
5.9%
1Y
n/a
CURN
CHF 11.55
Curatis Holding
7D
-0.4%
1Y
-9.1%