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

Investors are relatively neutral on the Swiss 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 PE ratio of 22.5x. The 3-year average PS ratio of 3.9x is lower than the industry's current PS ratio of 4.3x.

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

There are no additional sub-industries under this industry.

Swiss (SMI) Pharma Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 04 Jun 2026	CHF 527.3b	CHF 121.7b	CHF 24.9b	37.6x	21.2x	4.3x
Sat, 02 May 2026	CHF 547.2b	CHF 120.9b	CHF 24.7b	37.9x	22.1x	4.5x
Mon, 30 Mar 2026	CHF 544.6b	CHF 122.2b	CHF 25.4b	35.9x	21.5x	4.5x
Wed, 25 Feb 2026	CHF 615.2b	CHF 119.6b	CHF 24.3b	37.1x	25.3x	5.1x
Fri, 23 Jan 2026	CHF 587.9b	CHF 120.7b	CHF 21.4b	37.2x	27.4x	4.9x
Sun, 21 Dec 2025	CHF 556.4b	CHF 121.1b	CHF 21.5b	33.6x	25.9x	4.6x
Tue, 18 Nov 2025	CHF 513.1b	CHF 121.1b	CHF 21.5b	33x	23.9x	4.2x
Thu, 16 Oct 2025	CHF 505.2b	CHF 120.2b	CHF 20.9b	33.4x	24.1x	4.2x
Sat, 13 Sep 2025	CHF 479.5b	CHF 120.2b	CHF 20.9b	31.8x	22.9x	4x
Mon, 11 Aug 2025	CHF 449.9b	CHF 120.8b	CHF 20.9b	22.2x	21.5x	3.7x
Wed, 09 Jul 2025	CHF 452.2b	CHF 117.2b	CHF 18.9b	24.8x	23.9x	3.9x
Fri, 06 Jun 2025	CHF 455.1b	CHF 118.9b	CHF 19.2b	25.7x	23.7x	3.8x
Sun, 04 May 2025	CHF 446.5b	CHF 119.2b	CHF 19.3b	26.2x	23.2x	3.7x
Tue, 01 Apr 2025	CHF 460.3b	CHF 121.8b	CHF 19.2b	27.9x	23.9x	3.8x
Thu, 27 Feb 2025	CHF 480.5b	CHF 122.0b	CHF 19.0b	23.4x	25.2x	3.9x
Sat, 25 Jan 2025	CHF 450.4b	CHF 119.3b	CHF 21.4b	18.8x	21.1x	3.8x
Mon, 23 Dec 2024	CHF 415.3b	CHF 118.6b	CHF 21.2b	17.5x	19.6x	3.5x
Wed, 20 Nov 2024	CHF 425.4b	CHF 117.9b	CHF 21.1b	18.2x	20.1x	3.6x
Fri, 18 Oct 2024	CHF 462.9b	CHF 115.9b	CHF 19.5b	21.9x	23.8x	4x
Sun, 15 Sep 2024	CHF 451.0b	CHF 114.8b	CHF 19.3b	21.6x	23.4x	3.9x
Tue, 13 Aug 2024	CHF 457.7b	CHF 115.8b	CHF 19.5b	21.7x	23.5x	4x
Thu, 11 Jul 2024	CHF 438.6b	CHF 116.5b	CHF 19.8b	34x	22.2x	3.8x
Sat, 08 Jun 2024	CHF 426.0b	CHF 116.3b	CHF 19.8b	44.1x	21.6x	3.7x
Mon, 06 May 2024	CHF 389.1b	CHF 113.1b	CHF 19.9b	39x	19.6x	3.4x
Wed, 03 Apr 2024	CHF 401.1b	CHF 112.3b	CHF 19.4b	36.5x	20.6x	3.6x
Fri, 01 Mar 2024	CHF 385.5b	CHF 110.6b	CHF 19.7b	24.1x	19.6x	3.5x
Sun, 28 Jan 2024	CHF 413.8b	CHF 120.2b	CHF 18.8b	27x	22.1x	3.4x
Tue, 26 Dec 2023	CHF 394.7b	CHF 119.6b	CHF 18.7b	25x	21.1x	3.3x
Thu, 23 Nov 2023	CHF 390.8b	CHF 121.5b	CHF 18.9b	24.5x	20.6x	3.2x
Sat, 21 Oct 2023	CHF 390.9b	CHF 120.9b	CHF 18.6b	25.7x	21.1x	3.2x
Mon, 18 Sep 2023	CHF 413.1b	CHF 112.7b	CHF 18.0b	47x	22.9x	3.7x
Wed, 16 Aug 2023	CHF 409.7b	CHF 111.6b	CHF 17.9b	48.7x	22.9x	3.7x
Fri, 14 Jul 2023	CHF 404.8b	CHF 113.2b	CHF 18.6b	36.8x	21.7x	3.6x
Sun, 11 Jun 2023	CHF 428.7b	CHF 115.5b	CHF 18.9b	37.9x	22.6x	3.7x


CH Market	-2.32%
Healthcare	-4.68%
Pharma	-5.17%
Pharma	-5.17%

	Company	Last Price	7D	1Y	Valuation
	BIOV BioVersys	CHF 27.20	2.3% +CHF 3.5m	-22.3%	PS50.1x

Announcement • 5h

Novartis Reports 144-Week Data from Asc4first Trial of Scemblix Demonstrating Superior Efficacy and Safety in Newly Diagnosed Cml

Novartis announced positive 144-week data from the pivotal ASC4FIRST trial of Scemblix (asciminib) presented at the 2026 American Society of Clinical Oncology Annual Meeting. These results provide longer-term evidence that Scemblix demonstrated increasingly superior molecular responses at week 144 compared with established tyrosine kinase inhibitors (TKIs), strengthening confidence in its sustained response. ASC4FIRST compared the major molecular response (MMR) rate of Scemblix to investigator-selected standard-of-care TKIs (imatinib and second generation TKIs nilotinib, dasatinib, and bosutinib) and to imatinib alone in adult patients with newly diagnosed Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase. The longer-term data showed a progressively larger difference in MMR rates favorable to Scemblix vs. standard-of-care TKIs, vs. imatinib and vs. second generation TKIs. In addition to meeting all primary and key secondary endpoints at weeks 48 and 96, Scemblix continued to extend the treatment benefit for patients vs. standard-of-care TKIs at week 144. At the cutoff, more patients remained on treatment with Scemblix vs. standard-of-care (78.6% vs. 55.9%), imatinib (81.2% vs. 50.0%), and second generation TKIs (76.0% vs. 61.8%). At week 144, nearly 24% more patients treated with Scemblix achieved MMR vs. all standard-of-care TKIs, and over 32% more patients achieved MMR vs. imatinib alone. The Scemblix MMR rate was 15.2% higher vs. second generation TKIs (75.0% vs. 59.8%; P=0.01*). Patients treated with Scemblix also achieved deeper molecular responses (MR4 and MR4.5) compared with standard-of-care TKIs. Secondary objectives MMR rates at week 144: 77.1% vs. 53.4% (Scemblix vs. investigator-selected standard-of-care TKIs), 79.2% vs. 47.1% (Scemblix vs. imatinib), 75.0% vs. 59.8% (Scemblix vs. second generation TKIs). MR4 at week 144: 55.7% vs. 36.3% (Scemblix vs. investigator-selected standard-of-care TKIs), 58.4% vs. 33.3% (Scemblix vs. imatinib), 53.0% vs. 39.2% (Scemblix vs. second generation TKIs). MR4.5 at week 144: 42.3% vs. 24.5% (Scemblix vs. investigator-selected standard-of-care TKIs), 43.6% vs. 19.6% (Scemblix vs. imatinib), 41.0% vs. 29.4% (Scemblix vs. second generation TKIs). Scemblix demonstrated a safety profile at 144 weeks consistent with the 4-year follow-up of the Phase III ASCEMBL trial, with no new safety concerns observed to date. Compared with both imatinib and second generation TKIs, Scemblix showed fewer grade =3 adverse events, fewer dose adjustments to manage adverse events, and more than 50% lower discontinuation due to adverse events. The most frequent adverse events (=15%) were diarrhea, headache, fatigue, musculoskeletal pain, and rash. Week 144: Grade =3 adverse events: Scemblix 49%, imatinib 52%, second generation TKIs 63%. Discontinuation due to adverse events: Scemblix 6%, imatinib 13%, second generation TKIs 14%. Adverse events leading to dose adjustments/interruptions: Scemblix 37%, imatinib 44%, second generation TKIs 63%. ASC4FIRST (NCT04971226) is a Phase III, head-to-head, multi-center, open-label, randomized study of oral Scemblix 80 mg QD vs. investigator-selected first- or second-generation TKIs (imatinib, nilotinib, dasatinib or bosutinib) in 405 adult patients with newly diagnosed Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase. The trial met both primary endpoints with Scemblix demonstrating superior MMR rates at week 48 vs. investigator-selected standard-of-care TKIs (imatinib, nilotinib, dasatinib, and bosutinib) (67.7% vs. 49.0%) and imatinib alone (69.3% vs. 40.2%) as well as the secondary, non-powered endpoint for the second generation TKI stratum of (66% vs. 57.8%). The study remains ongoing with further efficacy and safety readouts planned. Scemblix is the first CML treatment that works by Specifically Targeting the ABL Myristoyl Pocket (referred to as a STAMP inhibitor in scientific literature). Other currently approved CML treatments are TKIs that target the ATP-binding site (ATP-competitive). In the US, Scemblix was granted accelerated approval to treat newly diagnosed adults with Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase. Outside the US, Scemblix is approved to treat newly diagnosed adults with Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase in more than 60 countries, including the EU, China, and Japan. It is also approved in 61 countries, including the US and the EU, for previously treated adults with Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase, regardless of prior therapy, and in 58 countries, including the US and the EU, for patients with Philadelphia chromosome-positive chronic myeloid leukemia in chronic phase with the T315I mutation.

Announcement • 20h

Roche Receives FDA Acceptance For New Drug Application For Giredestrant In ER-Positive Early-Stage Breast Cancer

Roche announced that the United States Food and Drug Administration has accepted the company’s New Drug Application under Priority Review for giredestrant, an investigational oral selective oestrogen receptor degrader (SERD), as an adjuvant treatment for adults with oestrogen receptor (ER)-positive, human epidermal growth factor receptor 2 (HER2)-negative, stage I, II, and III breast cancer. The FDA is expected to make a decision on the approval by 30 November 2026. The filing acceptance is based on the phase III lidERA Breast Cancer study results, which showed adjuvant giredestrant significantly reduced the risk of invasive disease recurrence or death (iDFS) by 30% compared with standard-of-care endocrine therapy (SoC ET) (hazard ratio [HR]=0.70, 95% confidence interval [CI] 0.57-0.87, p=0.0014). At three years, 92.4% of patients in the giredestrant arm were alive and free of invasive disease versus 89.6% in the SoC ET arm. The iDFS benefit was consistent across all clinically relevant subgroups. Overall survival (OS) data were immature at the time of this analysis, but a clear positive trend was observed. Follow-up for OS will continue to the next analysis. Giredestrant was well tolerated; adverse events were manageable and consistent with its known safety profile. The treatment discontinuation rate for giredestrant was 5.3% versus 8.2% with SoC ET. Additional analyses from the giredestrant programme were presented at the 2026 American Society of Clinical Oncology Congress. This growing body of evidence continues to reinforce the clinical benefit profile of giredestrant and its potential to meaningfully improve outcomes across ER-positive early-stage and advanced breast cancer. The US FDA recently accepted the NDA for giredestrant in combination with everolimus for those with ESR1-mutated, ER-positive advanced breast cancer based on the evERA results, with a decision expected in December 2026. Roche’s expanding giredestrant clinical development programme spans distinct treatment settings and lines of therapy. Globally, 2,300,000 people are diagnosed with breast cancer each year. ER-positive breast cancer accounts for approximately 70% of breast cancer cases, and the majority are diagnosed in the early-stage. Currently, up to a third of people eventually experience recurrence on or after adjuvant endocrine therapy treatment for early-stage breast cancer. Additionally, many have to interrupt or stop treatment early due to safety or tolerability issues, thereby increasing the risk of death. These limitations underscore the need for more effective and better-tolerated options that can enhance adherence and prevent or delay disease recurrence. lidERA Breast Cancer [NCT04961996] is a phase III, randomised, open-label, multicentre study evaluating the efficacy and safety of adjuvant giredestrant versus standard-of-care endocrine therapy in people with medium- or high-risk stage I-III oestrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer. Over 4,100 patients were enrolled in the study. The primary endpoint is invasive disease-free survival (iDFS) excluding unrelated cancers in other organs (second primary non-breast cancers). Key secondary endpoints include overall survival, iDFS including second primary non-breast cancers, disease-free survival and safety. Giredestrant is an investigational, oral, potent next-generation selective oestrogen receptor degrader and full antagonist. Giredestrant is designed to block oestrogen from binding to the oestrogen receptor, triggering its breakdown (known as degradation) and stopping or slowing down the growth of cancer cells. Giredestrant has an extensive clinical development programme and is being investigated in five company-sponsored phase III clinical trials that span multiple treatment settings and lines of therapy to benefit as many people as possible: Giredestrant versus standard-of-care endocrine therapy (SoC ET) as adjuvant treatment in oestrogen receptor (ER)-positive, human epidermal growth factor receptor 2 (HER2)-negative early-stage breast cancer (lidERA Breast Cancer; NCT04961996); Giredestrant plus everolimus versus SoC ET plus everolimus in ER-positive, HER2-negative, locally advanced or metastatic breast cancer (evERA Breast Cancer; NCT05306340); Giredestrant plus palbociclib versus letrozole plus palbociclib in ER-positive, HER2-negative, endocrine-sensitive, recurrent locally advanced or metastatic breast cancer (persevERA Breast Cancer; NCT04546009); Giredestrant plus investigator’s choice of a cyclin-dependent kinase 4/6 (CDK4/6) inhibitor versus fulvestrant plus a CDK4/6 inhibitor in ER-positive, HER2-negative advanced breast cancer resistant to adjuvant endocrine therapy (pionERA Breast Cancer; NCT06065748); Giredestrant plus Phesgo (pertuzumab, trastuzumab, and hyaluronidase subcutaneous) versus Phesgo in ER-positive, HER2-positive locally advanced or metastatic breast cancer (heredERA Breast Cancer; NCT05296798).

Swiss (SMI) Pharma Industry Analysis

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Latest News

Novartis Reports 144-Week Data from Asc4first Trial of Scemblix Demonstrating Superior Efficacy and Safety in Newly Diagnosed Cml

Roche Receives FDA Acceptance For New Drug Application For Giredestrant In ER-Positive Early-Stage Breast Cancer

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