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

Investors are optimistic on the German Pharmaceuticals industry, and appear confident in long term growth rates. The industry is trading at a PE ratio of 189x which is higher than its 3-year average PE of 126x. The industry is trading close to its 3-year average PS ratio of 1.4x.

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

There are no additional sub-industries under this industry.

German (DAX) Pharma Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Sat, 23 May 2026	€96.9b	€67.4b	€511.4m	22.1x	189.5x	1.4x
Mon, 20 Apr 2026	€95.0b	€67.9b	-€888,580,858.50	19.3x	-107x	1.4x
Wed, 18 Mar 2026	€90.6b	€67.9b	-€900,303,492.13	18.8x	-100.6x	1.3x
Fri, 13 Feb 2026	€102.2b	€68.3b	€2.9b	17.8x	35.6x	1.5x
Sun, 11 Jan 2026	€96.8b	€68.3b	€2.9b	18.3x	33.8x	1.4x
Tue, 09 Dec 2025	€89.2b	€68.5b	€2.9b	17.6x	31x	1.3x
Thu, 06 Nov 2025	€77.0b	€68.8b	-€439,184,343.01	18.2x	-175.4x	1.1x
Sat, 04 Oct 2025	€83.9b	€68.8b	-€439,008,342.28	19.2x	-191.1x	1.2x
Mon, 01 Sep 2025	€77.7b	€68.9b	-€406,133,953.93	17.2x	-191.4x	1.1x
Wed, 30 Jul 2025	€79.6b	€69.4b	-€283,071,598.00	17.9x	-281.3x	1.1x
Fri, 27 Jun 2025	€76.8b	€69.4b	-€293,702,195.00	17.6x	-261.6x	1.1x
Sun, 25 May 2025	€76.2b	€69.4b	-€206,564,479.00	18.1x	-368.9x	1.1x
Tue, 22 Apr 2025	€73.9b	€69.3b	€463.1m	17.8x	159.6x	1.1x
Thu, 20 Mar 2025	€85.1b	€69.2b	€436.0m	21x	195.1x	1.2x
Sat, 15 Feb 2025	€82.8b	€69.2b	€2.0b	21.9x	40.9x	1.2x
Mon, 13 Jan 2025	€84.4b	€69.2b	€2.0b	23x	42x	1.2x
Wed, 11 Dec 2024	€85.4b	€69.2b	€2.0b	22.3x	42.1x	1.2x
Fri, 08 Nov 2024	€92.0b	€69.4b	€1.6b	20.2x	58.9x	1.3x
Sun, 06 Oct 2024	€99.0b	€69.3b	€1.5b	21.6x	67.3x	1.4x
Tue, 03 Sep 2024	€106.0b	€69.3b	€1.5b	25.6x	72x	1.5x
Thu, 01 Aug 2024	€101.6b	€69.2b	-€303,627,757.00	30.1x	-334.5x	1.5x
Sat, 29 Jun 2024	€95.7b	€69.2b	-€327,989,929.00	29.5x	-291.9x	1.4x
Mon, 27 May 2024	€102.7b	€69.2b	-€310,351,180.00	21.5x	-330.9x	1.5x
Wed, 24 Apr 2024	€96.0b	€70.0b	-€34,208,180.00	20.6x	-2806.6x	1.4x
Fri, 22 Mar 2024	€98.7b	€70.0b	€6.5m	18.8x	15195.1x	1.4x
Sun, 18 Feb 2024	€98.4b	€70.6b	-€650,504,143.00	19.4x	-151.3x	1.4x
Tue, 16 Jan 2024	€98.4b	€70.6b	-€650,504,143.00	20.3x	-151.3x	1.4x
Thu, 14 Dec 2023	€92.1b	€70.6b	-€650,606,256.00	17.8x	-141.5x	1.3x
Sat, 11 Nov 2023	€106.9b	€70.6b	-€625,796,256.00	16.7x	-170.9x	1.5x
Mon, 09 Oct 2023	€114.0b	€72.1b	€4.7b	18.7x	24.4x	1.6x
Wed, 06 Sep 2023	€126.6b	€72.1b	€4.7b	21.7x	27.2x	1.8x
Fri, 04 Aug 2023	€125.0b	€74.1b	€6.5b	17x	19.4x	1.7x
Sun, 02 Jul 2023	€118.8b	€74.1b	€6.5b	18.5x	18.4x	1.6x
Tue, 30 May 2023	€128.4b	€74.1b	€6.4b	22.1x	20.1x	1.7x


DE Market	3.17%
Healthcare	4.54%
Pharma	6.10%
Pharma	6.10%

Company	Last Price	7D	1Y	Valuation
MRK Merck KGaA	€128.60	9.6% +€4.9b	12.7%	PE22.1x
BAYN Bayer	€38.51	2.1% +€785.9m	57.3%	PS0.8x
93M1 MPH Health Care	€25.70	17.9% +€16.7m	1.2%	PB0.5x
HIGH Cantourage Group	€6.06	2.0% +€1.5m	4.1%	PE597.6x
B8FK Biofrontera	€2.42	2.5% +€364.6k	-8.3%	PS1.1x

Announcement • 17h

Bayer Announces Priority Review Of Supplemental New Drug Application For Kerendia For Treatment Of Adults With Type 1 Diabetes And Chronic Kidney Disease

Bayer announced that the U.S. Food and Drug Administration (FDA) accepted its supplemental New Drug Application (sNDA) and granted Priority Review designation for KERENDIA (finerenone), which is being investigated for the treatment of adults with type 1 diabetes (T1D) and chronic kidney disease (CKD). The sNDA was supported by the Phase III FINE-ONE trial, which showed KERENDIA significantly reduced urine albumin-to-creatinine ratio (UACR) over six months compared with placebo when either are used alongside standard of care for adults with T1D and CKD. The sNDA was also supported by pooled Phase III data from the FIDELIO-DKD and FIGARO-DKD trials in adult patients with CKD associated with type 2 diabetes (T2D). UACR is an important marker of cardiovascular risk and kidney disease progression. Approximately 20-30% of people in the U.S. with T1D also have CKD, which puts them at risk of cardiovascular events and kidney failure. The FDA grants Priority Review designation for the evaluation of medicines that, if approved, would provide a significant improvement in the safety or effectiveness of the treatment, prevention, or diagnosis of a serious condition. KERENDIA is currently approved by the FDA for use in adults with CKD associated with T2D, as well as adults with heart failure with left ventricular ejection fraction (HF LVEF) =40%. If approved, KERENDIA, a non-steroidal mineralocorticoid receptor antagonist (MRA), would be the first MRA indicated for adults with T1D and CKD. FINE-ONE is the first Phase III study since the 1990s to show positive results for patients with T1D and CKD. Since 2021, KERENDIA has been approved to reduce the risk of cardiovascular death, hospitalization for heart failure (HF), non-fatal myocardial infarction, sustained eGFR decline, and end-stage kidney disease in adult patients with CKD associated with T2D. In July 2025, KERENDIA also received FDA approval to reduce the risk of cardiovascular death, hospitalization for heart failure, and urgent heart failure visits in adults with HF LVEF =40%. FINE-ONE (NCT05901831) is a pivotal, global, randomized, prospective, double-blind, multicenter, Phase III study in people with T1D and CKD. FINE-ONE enrolled 242 adult participants with the primary objective to demonstrate whether the addition of finerenone, 10 or 20 mg once daily, to standard of care is superior to placebo in reducing UACR over six months. The results showed: KERENDIA significantly reduced UACR compared to placebo in patients with T1D and CKD on standard of care over the six-month study period (LS mean change = 0.75; 95% CI [0.65 to 0.87]; PHyperkalemia:KERENDIA can cause hyperkalemia. The risk for developing hyperkalemia increases with decreasing kidney function and is greater in patients with higher baseline potassium levels or other risk factors for hyperkalemia. Measure serum potassium and eGFR in all patients before initiation of treatment with KERENDIA and dose accordingly. Do not initiate KERENDIA if serum potassium is >5 mEq/L. Measure serum potassium periodically during treatment with KERENDIA and adjust dose accordingly. More frequent monitoring may be necessary for patients at risk for hyperkalemia, including those on concomitant medications that impair potassium excretion or increase serum potassium. Worsening of Renal Function in Patients with Heart Failure: KERENDIA can cause worsening of renal function in patients with heart failure. Rarely, severe events associated with worsening renal function, including events requiring hospitalization, have been observed. Measure eGFR in all patients before initiation of treatment or with dose titration of KERENDIA and dose accordingly. Initiation of KERENDIA in patients with heart failure and an eGFR 45.6 billion euros. R&D expenses amounted to 5.8 billion euros.

German (DAX) Pharma Industry Analysis

Industry Valuation and Performance

Industry Trends

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Latest News

Bayer Announces Priority Review Of Supplemental New Drug Application For Kerendia For Treatment Of Adults With Type 1 Diabetes And Chronic Kidney Disease

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