Has the U.K. Pharma Industry valuation changed over the past few years?

Investors are pessimistic on the British Pharmaceuticals industry, indicating that they anticipate long term growth rates will be lower than they have historically. The industry is trading at a PE ratio of 21.5x which is lower than its 3-year average PE of 24.8x. The industry is trading close to its 3-year average PS ratio of 3.4x.

Which industries have driven the changes within the U.K. Healthcare industry?

There are no additional sub-industries under this industry.

U.K. (FTSE) Pharma Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 27 Aug 2026	UK£304.4b	UK£92.6b	UK£14.4b	22.5x	21.2x	3.3x
Sat, 25 Jul 2026	UK£310.5b	UK£92.3b	UK£15.9b	19.2x	19.6x	3.4x
Mon, 22 Jun 2026	UK£316.8b	UK£92.7b	UK£15.9b	17.7x	19.9x	3.4x
Wed, 20 May 2026	UK£327.4b	UK£92.1b	UK£15.8b	18.2x	20.7x	3.6x
Fri, 17 Apr 2026	UK£352.6b	UK£90.2b	UK£15.5b	18.9x	22.7x	3.9x
Sun, 15 Mar 2026	UK£342.6b	UK£91.2b	UK£15.7b	21.2x	21.8x	3.8x
Tue, 10 Feb 2026	UK£344.2b	UK£89.2b	UK£14.7b	23.8x	23.4x	3.9x
Thu, 08 Jan 2026	UK£335.8b	UK£89.3b	UK£14.6b	21.9x	23x	3.8x
Sat, 06 Dec 2025	UK£321.0b	UK£89.9b	UK£14.7b	21.1x	21.9x	3.6x
Mon, 03 Nov 2025	UK£302.8b	UK£89.3b	UK£13.9b	20.7x	21.7x	3.4x
Wed, 01 Oct 2025	UK£271.4b	UK£87.7b	UK£11.7b	19x	23.2x	3.1x
Fri, 29 Aug 2025	UK£280.4b	UK£87.5b	UK£11.7b	21.2x	24x	3.2x
Sun, 27 Jul 2025	UK£263.5b	UK£86.6b	UK£10.7b	29.8x	24.7x	3x
Tue, 24 Jun 2025	UK£259.6b	UK£86.4b	UK£10.6b	26x	24.5x	3x
Thu, 22 May 2025	UK£264.7b	UK£86.7b	UK£10.7b	27x	24.8x	3.1x
Sat, 19 Apr 2025	UK£252.1b	UK£86.5b	UK£9.6b	26.7x	26.3x	2.9x
Mon, 17 Mar 2025	UK£290.1b	UK£87.7b	UK£9.6b	28.8x	30.2x	3.3x
Wed, 12 Feb 2025	UK£282.5b	UK£89.5b	UK£9.5b	30.5x	29.6x	3.2x
Fri, 10 Jan 2025	UK£233.1b	UK£76.3b	UK£7.9b	32.1x	29.5x	3.1x
Sun, 08 Dec 2024	UK£227.6b	UK£74.8b	UK£7.7b	32.1x	29.5x	3x
Tue, 05 Nov 2024	UK£236.4b	UK£72.5b	UK£7.6b	31.1x	31.3x	3.3x
Thu, 03 Oct 2024	UK£252.6b	UK£71.6b	UK£9.0b	30.4x	28.2x	3.5x
Sat, 31 Aug 2024	UK£280.9b	UK£72.0b	UK£9.0b	42x	31.3x	3.9x
Mon, 29 Jul 2024	UK£259.8b	UK£72.2b	UK£9.6b	34.8x	27.2x	3.6x
Wed, 26 Jun 2024	UK£267.3b	UK£71.6b	UK£9.6b	30.2x	28x	3.7x
Fri, 24 May 2024	UK£272.7b	UK£71.6b	UK£9.6b	32.7x	28.5x	3.8x
Sun, 21 Apr 2024	UK£244.3b	UK£71.6b	UK£9.8b	31.8x	24.9x	3.4x
Tue, 19 Mar 2024	UK£236.4b	UK£70.4b	UK£9.7b	31.9x	24.3x	3.4x
Thu, 15 Feb 2024	UK£225.5b	UK£69.9b	UK£9.6b	34.6x	23.4x	3.2x
Sat, 13 Jan 2024	UK£244.2b	UK£68.8b	UK£10.7b	37.2x	22.9x	3.5x
Mon, 11 Dec 2023	UK£226.9b	UK£69.4b	UK£10.7b	33.4x	21.1x	3.3x
Wed, 08 Nov 2023	UK£230.2b	UK£70.6b	UK£11.0b	52.9x	20.9x	3.3x
Fri, 06 Oct 2023	UK£243.3b	UK£70.7b	UK£10.4b	74.9x	23.3x	3.4x
Sun, 03 Sep 2023	UK£236.9b	UK£69.4b	UK£10.2b	53.5x	23.2x	3.4x


GB Market	1.37%
Healthcare	1.23%
Pharma	1.18%
Pharma	1.18%

Company	Last Price	7D	1Y	Valuation
AZN AstraZeneca	UK£122.34	1.5% +UK£2.9b	3.0%	PE24.7x
HLN Haleon	UK£3.73	4.3% +UK£1.4b	3.0%	PE20.3x
AGY Allergy Therapeutics	UK£0.056	6.7% +UK£22.2m	-30.0%	PS6.2x
SAR Sareum Holdings	UK£0.37	32.1% +UK£12.5m	76.2%	PB42.9x
STX Shield Therapeutics	UK£0.05	12.5% +UK£5.9m	-38.9%	PS1.2x

Announcement • 6h

Daiichi Sankyo and Astrazeneca Initiate Tropion-Urothelial04 Phase 3 Trial of Datroway as Adjuvant Therapy in High-Risk Muscle Invasive Urothelial Cancer

Daiichi Sankyo and AstraZeneca have dosed the first patient in the TROPION-Urothelial04 phase 3 trial evaluating Datroway (datopotamab deruxtecan) plus rilvegostomig or Datroway monotherapy versus current standard of care (durvalumab monotherapy or nivolumab monotherapy or enfortumab vedotin plus pembrolizumab) as an adjuvant treatment (after surgery) in patients with muscle invasive urothelial cancer (MIUC) at high risk of recurrence following radical surgical resection with or without prior neoadjuvant therapy. Datroway is a specifically engineered TROP2 directed DXd antibody drug conjugate (ADC) discovered by Daiichi Sankyo and being jointly developed and commercialized by Daiichi Sankyo and AstraZeneca. Rilvegostomig is AstraZeneca’s anti-PD-1/TIGIT dual checkpoint inhibitor bispecific antibody. MIUC is a highly progressive disease, representing approximately 30% of all urothelial cancer cases. While adjuvant immunotherapy remains standard of care in the muscle invasive setting, many patients still face a high risk for disease recurrence after surgery, underscoring the need for new treatments that can further improve long-term outcomes. There are currently no TROP2 directed medicines approved for the treatment of urothelial cancer. Daiichi Sankyo and AstraZeneca also are evaluating Datroway plus platinum-based chemotherapy compared to gemcitabine and platinum-based chemotherapy in patients with metastatic urothelial carcinoma following progression during or after treatment with enfortumab vedotin in combination with pembrolizumab in the TROPION-Urothelial03 phase 2/3 trial. TROPION-Urothelial04 is a global, multicenter, three-arm open-label phase 3 trial where patients will be randomized in a 2:1:2 ratio to evaluate the efficacy and safety of Datroway in combination with rilvegostomig or Datroway monotherapy versus current standard of care (durvalumab monotherapy or nivolumab monotherapy or enfortumab vedotin plus pembrolizumab) in patients with high-risk MIUC, including those with residual disease at surgical resection following neoadjuvant therapy and those with high-risk disease after surgery without neoadjuvant therapy. The primary endpoint of TROPION-Urothelial04 is disease free survival (DFS) as assessed by investigator for the combination of Datroway and rilvegostomig versus standard of care. Key secondary endpoints include DFS as assessed by blinded independent central review, disease specific survival, non-urothelial tract recurrence-free survival, distant metastasis-free survival, patient reported outcomes, overall survival and safety. TROPION-Urothelial04 will enroll approximately 915 patients across multiple sites in Asia, Europe, North America, Oceania and South America. The TIGIT component of rilvegostomig is derived from the clinical-stage anti-TIGIT antibody, COM902, developed by Compugen Ltd. The most common type of bladder cancer is urothelial cancer, accounting for approximately 90% of cases. Urothelial cancer can originate in the upper urinary tract (renal pelvis, ureter) or the lower urinary tract (bladder, urethra). Muscle invasive urothelial cancer is a highly progressive disease, which occurs when the cancer has spread to the muscle walls of the bladder and represents approximately 30% of all urothelial cancer cases.

Announcement • Aug 24

GSK plc Announces Jemperli Accepts for Priority Review by US FDA for dMMR/MSI-H Locally Advanced Rectal Cancer

GSK plc announced the US Food and Drug Administration (FDA) has accepted for priority review a supplemental Biologics License Application (sBLA) for Jemperli (dostarlimab) for patients with previously untreated stage II and III mismatch repair deficient (dMMR)/microsatellite instability-high (MSI-H) locally advanced rectal cancer. The FDA has assigned a PDUFA action date of February 2027. The application is also eligible for expedited review through the National Priority Voucher program, which could result in an earlier FDA decision. The application is based on positive data from the registrational phase II, single-arm AZUR-1 trial, which met its primary objective by demonstrating a meaningful and sustained clinical complete response rate for 12 months (cCR12) with no detectable signs of cancer for at least one year. In interim data, the safety and tolerability profile of dostarlimab was generally consistent with its well-characterised and manageable safety profile observed across solid tumours. AZUR-1 results represent a substantial improvement compared to the historical standard of care. The data support the potential for dostarlimab, if approved, to become the first immunotherapy capable of eliminating or delaying the need for chemotherapy, radiation and surgery for some patients in this population. Dostarlimab was previously granted Fast Track and Breakthrough Therapy Designations in this setting. The application has also been accepted under Project Orbis, an FDA Oncology Center of Excellence initiative that enables coordinated reviews by international health authorities and may support earlier regulatory decisions and patient access. Regulatory decisions remain independent in each country. Jemperli, a programmed death receptor-1 (PD-1)-blocking antibody, is the backbone of GSK's ongoing immuno-oncology based research and development programme. A robust clinical trial programme includes studies of Jemperli alone and in combination with other therapies in gynaecologic, colorectal and head and neck cancers, as well as where there are opportunities for transformational outcomes. Jemperli was discovered by AnaptysBio Inc. and licensed to TESARO Inc., under a collaboration and exclusive license agreement signed in March 2014. Under this agreement, GSK is responsible for the ongoing research, development, commercialisation and manufacturing of Jemperli. Jemperli is not currently approved anywhere in the world for locally advanced rectal cancer.

U.K. (FTSE) Pharma Industry Analysis

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Latest News

Daiichi Sankyo and Astrazeneca Initiate Tropion-Urothelial04 Phase 3 Trial of Datroway as Adjuvant Therapy in High-Risk Muscle Invasive Urothelial Cancer

Nuformix plc Announces Board Changes

First half 2026 earnings released: US$0.002 loss per share (vs US$0.009 loss in 1H 2025)

New major risk - Share price stability

GSK plc Announces Jemperli Accepts for Priority Review by US FDA for dMMR/MSI-H Locally Advanced Rectal Cancer

Now 22% overvalued after recent price rise

First half dividend of US$0.38 announced

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New major risk - Share price stability

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