Has the U.S. Biotech Industry valuation changed over the past few years?

Investors are optimistic on the American Biotechs industry, and appear confident in long term growth rates. The 3-year average PS ratio of 7.0x is lower than the industry's current PS ratio of 8.2x.

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

There are no additional sub-industries under this industry.

U.S. Biotech Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 30 Jul 2026	US$1.4t	US$169.9b	-US$11,677,139,472.84	16.5x	-120x	8.2x
Sat, 27 Jun 2026	US$1.4t	US$169.9b	-US$12,062,034,705.15	17.2x	-113x	8x
Mon, 25 May 2026	US$1.3t	US$170.0b	-US$12,285,000,013.65	16.2x	-105.1x	7.6x
Wed, 22 Apr 2026	US$1.3t	US$166.2b	-US$11,945,703,384.24	17x	-111.7x	8x
Fri, 20 Mar 2026	US$1.3t	US$169.3b	-US$15,232,711,632.11	15.4x	-83.5x	7.5x
Sun, 15 Feb 2026	US$1.3t	US$168.7b	-US$13,693,089,252.42	22.2x	-97.5x	7.9x
Tue, 13 Jan 2026	US$1.2t	US$163.5b	-US$15,146,265,061.87	20.8x	-80.9x	7.5x
Thu, 11 Dec 2025	US$1.2t	US$163.6b	-US$15,616,288,786.25	19.2x	-77.3x	7.4x
Sat, 08 Nov 2025	US$1.1t	US$163.2b	-US$15,904,863,908.57	16.2x	-71.3x	6.9x
Mon, 06 Oct 2025	US$1.1t	US$163.5b	-US$18,204,873,215.17	16.7x	-62.3x	6.9x
Wed, 03 Sep 2025	US$1.1t	US$163.5b	-US$18,341,149,050.41	15.4x	-57.6x	6.5x
Fri, 01 Aug 2025	US$977.1b	US$155.6b	-US$21,869,816,647.16	15.7x	-44.7x	6.3x
Sun, 29 Jun 2025	US$927.2b	US$156.0b	-US$23,836,878,936.09	17.2x	-38.9x	5.9x
Tue, 27 May 2025	US$907.6b	US$156.0b	-US$24,117,883,283.59	15.6x	-37.6x	5.8x
Thu, 24 Apr 2025	US$786.0b	US$119.2b	-US$36,559,322,741.41	19.7x	-21.5x	6.6x
Sat, 22 Mar 2025	US$829.3b	US$118.6b	-US$36,904,224,937.69	20.4x	-22.5x	7x
Mon, 17 Feb 2025	US$842.1b	US$116.6b	-US$36,838,613,842.21	17.6x	-22.9x	7.2x
Wed, 15 Jan 2025	US$933.0b	US$149.4b	-US$26,267,408,194.25	16.7x	-35.5x	6.2x
Fri, 13 Dec 2024	US$1.0t	US$150.0b	-US$26,532,638,861.63	17.1x	-38.5x	6.8x
Sun, 10 Nov 2024	US$1.1t	US$149.6b	-US$27,286,902,976.61	16.5x	-40.7x	7.4x
Tue, 08 Oct 2024	US$889.8b	US$113.1b	-US$35,895,408,227.40	20.8x	-24.8x	7.9x
Thu, 05 Sep 2024	US$889.8b	US$113.1b	-US$35,706,110,149.34	23.3x	-24.9x	7.9x
Sat, 03 Aug 2024	US$1.2t	US$165.9b	-US$33,221,382,510.84	25.9x	-36.6x	7.3x
Mon, 01 Jul 2024	US$1.1t	US$164.4b	-US$27,988,781,321.07	28.5x	-41x	7x
Wed, 29 May 2024	US$1.1t	US$164.6b	-US$26,663,229,028.47	27.2x	-42.2x	6.8x
Fri, 26 Apr 2024	US$1.1t	US$164.2b	-US$23,382,193,080.97	20.1x	-46x	6.6x
Sun, 24 Mar 2024	US$1.2t	US$164.3b	-US$23,936,586,653.35	21.4x	-48.6x	7.1x
Tue, 20 Feb 2024	US$1.2t	US$169.1b	-US$20,394,485,082.32	15.7x	-57.5x	6.9x
Thu, 18 Jan 2024	US$1.4t	US$204.8b	-US$22,506,707,794.00	18.8x	-63.3x	7x
Sat, 16 Dec 2023	US$1.4t	US$204.7b	-US$22,119,635,723.00	19.2x	-61x	6.6x
Mon, 13 Nov 2023	US$1.2t	US$204.5b	-US$21,996,116,562.00	18.5x	-54.6x	5.9x
Wed, 11 Oct 2023	US$1.3t	US$207.4b	-US$13,069,383,940.00	17.3x	-96.7x	6.1x
Fri, 08 Sep 2023	US$1.3t	US$207.5b	-US$12,639,999,993.00	17.3x	-100.8x	6.1x
Sun, 06 Aug 2023	US$1.3t	US$210.2b	-US$10,135,599,050.00	15.6x	-124.3x	6x


US Market	-2.63%
Healthcare	3.18%
Biotech	0.47%
Biotech	0.47%

Company	Last Price	7D	1Y	Valuation
ABBV AbbVie	US$263.30	3.9% +US$17.7b	39.1%	PE129.4x
AMGN Amgen	US$387.64	4.3% +US$8.7b	31.4%	PE26.8x
REGN Regeneron Pharmaceuticals	US$695.42	6.7% +US$4.4b	27.5%	PE16x
GILD Gilead Sciences	US$132.73	1.8% +US$3.0b	15.7%	PE17.9x
VRTX Vertex Pharmaceuticals	US$483.33	2.3% +US$2.7b	3.0%	PE28.3x

Announcement • 14h

Amgen Receives Positive CHMP Opinion for Expanded Use of Repatha to Reduce Cardiovascular Risk in High-Risk Adults

Amgen announced the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion for Repatha (evolocumab) for adults with established or at high risk for atherosclerotic cardiovascular disease to reduce cardiovascular risk by lowering LDL-C levels, as an adjunct to correction of other risk factors. The recommendation is based on results from the Phase 3 VESALIUS-CV trial, which demonstrated that Repatha significantly reduced the risk of major adverse cardiovascular events (MACE) in high-risk adults without a prior heart attack or stroke, when added to statins or other LDL-C-lowering treatments. Repatha is the only PCSK9 inhibitor proven in a Phase 3 clinical trial to reduce the risk of a first major cardiovascular event. If approved by the European Commission, this expanded indication has the potential to redefine cardiovascular care for appropriate patients in Europe. Cardiovascular disease is the leading cause of death worldwide. Recent research shows that more than 99% of people who experience a first-time cardiovascular event have at least one traditional risk factor, including high LDL-C, which is one of the most modifiable risk factors for heart attack or stroke. While the European Society of Cardiology (ESC) and European Atherosclerosis Society (EAS) guidelines recommend intensive LDL-C lowering based on cardiovascular risk, many high-risk patients remain above recommended LDL-C targets despite available lipid-lowering therapies. Repatha was initially approved in the European Union in 2015 for the treatment of adults and pediatric patients with primary hypercholesterolemia or mixed dyslipidemia, as well as to reduce cardiovascular risk in adults with established ASCVD. The European Commission is expected to make a final decision on the application in the coming months. VESALIUS-CV is a Phase 3, double-blind, randomized, placebo-controlled, global clinical trial designed to evaluate the impact of LDL-C lowering with evolocumab on MACE in adults at high CV risk without prior heart attack or stroke. Results were published in the New England Journal of Medicine in November 2025. Repatha demonstrated a 25% relative reduction in the risk of a composite of coronary heart disease (CHD) death, heart attack or ischemic stroke (3-P MACE), and 19% reduction in a broader composite that also included any ischemia-driven arterial revascularization (4-P MACE). Evolocumab also reduced the risk of heart attack by 36%. A consistent benefit was seen with evolocumab vs. placebo across all three endpoints, including the reduced risk of heart attack by 36%. In a lipid sub-study, adding evolocumab to a maximally tolerated dose of statin and/or ezetimibe substantially lowered LDL-C levels among observed patients, with a median level of 45 mg/dL compared to 109 mg/dL in the placebo group. VESALIUS-CV enrolled more than 12,000 patients with known ASCVD or high-risk diabetes, who had no history of heart attack or stroke, an LDL-C = 90 mg/dL, or non-high-density lipoprotein cholesterol (non-HDL-C) = 120 mg/dL, or apolipoprotein B = 80 mg/dL; and treated with highest tolerated dose of statin and/or ezetimibe. The median baseline LDL-C was 122 mg/dL (IQR, 104-149 mg/dL) on local lab testing. Participants were randomized to receive evolocumab or placebo in addition to optimized lipid-lowering therapy and were followed for a median of approximately 4.6 years. Repatha is a human monoclonal antibody that inhibits proprotein convertase subtilisin/kexin type 9 (PCSK9). Repatha binds to PCSK9 and inhibits circulating PCSK9 from binding to the low-density lipoprotein (LDL) receptor (LDLR), preventing PCSK9-mediated LDLR degradation and permitting LDLR to recycle back to the liver cell surface. By inhibiting the binding of PCSK9 to LDLR, Repatha increases the number of LDLRs available to clear LDL from the blood, thereby lowering LDL-C levels. Repatha is one of the most extensively studied PCSK9 inhibitors, with clinical and real-world evidence across diverse populations and CV risk profiles. The clinical benefits and safety of Repatha have been studied for 15 years in 51 clinical trials with over 57,000 patients. Repatha is the only PCSK9 inhibitor to demonstrate a significant reduction of cardiovascular events as both high-risk primary and secondary prevention, with patients achieving and maintaining dramatic LDL-C reductions using Repatha only once every two weeks. Repatha was first approved in 2015 and has since been used by more than 10 million patients globally. In August 2025, the U.S. Food and Drug Administration broadened the approved use of Repatha to include adults at increased risk for major adverse CV events due to uncontrolled LDL-C. Repatha is approved in 74 countries, including the U.S., Japan, Canada and in all 28 countries that are members of the European Union. Applications in other countries are pending. In Europe Repatha is approved for use in: Hypercholesterolemia and mixed dyslipidemia. Repatha is indicated in adults with primary hypercholesterolemia (heterozygous familial and non-familial) or mixed dyslipidemia, as an adjunct to diet: in combination with a statin or statin with other lipid lowering therapies in patients unable to reach LDL-C goals with the maximum tolerated dose of a statin or, alone or in combination with other lipid-lowering therapies in patients who are statin-intolerant, or for whom a statin is contraindicated. Homozygous familial hypercholesterolemia. Repatha is indicated in adults and adolescents aged 12 years and over with homozygous familial hypercholesterolemia in combination with other lipid-lowering therapies. Atherosclerotic cardiovascular disease. Repatha is indicated in adults with established or at high risk for atherosclerotic cardiovascular disease to reduce cardiovascular risk by lowering LDL-C levels, as an adjunct to correction of other risk factors: in combination with the maximum tolerated dose of a statin with or without other lipid-lowering therapies or, alone or in combination with other lipid-lowering therapies in patients who are statin-intolerant, or for whom a statin is contraindicated.

Announcement • 20h

Abbvie Receives European Commission Approval for Rinvoq for Treatment of Non-Segmental Vitiligo in Adults and Adolescents

AbbVie announced that the European Commission (EC) has approved RINVOQ (upadacitinib; 15 mg, once daily) for the treatment of adult and adolescent patients 12 years and older with non-segmental vitiligo (NSV) who are candidates for systemic therapy. With this approval, RINVOQ is now the first and only systemic medication approved in the European Union for NSV, the most common form of vitiligo. The approval is supported by data from the Phase 3 Viti-Up clinical program, which showed that RINVOQ achieved statistically significant total body (T-VASI 50) and facial repigmentation (F-VASI 75) from baseline at week 48, versus placebo. The EC approval of RINVOQ is supported by data from the Phase 3 Viti-Up clinical program (M19-044), including two replicate, randomized, placebo-controlled, double-blind studies evaluating the efficacy and safety of RINVOQ in adult and adolescent patients with NSV. As previously reported in both studies, RINVOQ 15 mg met both co-primary endpoints with statistically significant and clinically meaningful improvements in total body (T-VASI 50) and facial repigmentation (F-VASI 75) at week 48 versus placebo. RINVOQ met key ranked secondary endpoints, including stabilization of disease extent as assessed by T-VASI in patients with actively progressing disease at baseline. The safety profile of RINVOQ in both studies was generally consistent with that observed in approved indications, with no new safety signals. RINVOQ is also approved in the European Union for the treatment of adults and adolescents with atopic dermatitis, and adults with radiographic axial spondylarthritis, non-radiographic axial spondylarthritis, psoriatic arthritis, rheumatoid arthritis, ulcerative colitis, Crohn's disease, and giant cell arteritis, and adults and adolescents with severe alopecia areata. Upadacitinib M19-044 was conducted under a single protocol encompassing two replicate Phase 3 studies (Study 1 and Study 2) with independent randomization, investigative sites, data collection, analysis and reporting for each study. The trials were designed to evaluate the efficacy, safety and tolerability of upadacitinib in adult and adolescent patients (ages 12 and older) living with non-segmental vitiligo (NSV) who were eligible for systemic therapy. In Period A of both studies, participants were randomized in a 2:1 ratio to receive either upadacitinib 15 mg once daily or placebo for 48 weeks. Participants who completed Period A were eligible to enter Period B, a 112-week open-label extension in which all patients received upadacitinib 15 mg once daily. In total, Study 1 and Study 2 Periods A and B span 160 weeks. The two trials randomized 614 participants with NSV across 90 sites worldwide. The co-primary endpoints were based on the achievement of Total Vitiligo Area Scoring Index (T-VASI) 50, defined as at least 50% reduction in T-VASI from baseline, at week 48, and the achievement of Facial Vitiligo Area Scoring Index (F-VASI) 75, defined as at least 75% reduction in F-VASI from baseline, at week 48 with the treatment of upadacitinib 15 mg compared with placebo in adults and adolescents with NSV. The ranked secondary endpoints include the achievement of F-VASI 50, defined as at least a 50% reduction in F-VASI from baseline, at week 48, the achievement of F-VASI 75, defined as at least a 75% reduction in facial vitiligo area from baseline, at week 24, and, in actively progressing patients, no increase in disease extent based on the achievement of no increase from baseline in T-VASI at week 8 and 12. These endpoints were designed to assess the degree and timing of re-pigmentation on the face, an area among the most visible and psychosocially impactful for people living with NSV, as well as the potential to stabilize disease extent in actively progressing patients. Discovered and developed by AbbVie scientists, RINVOQ is a selective and reversible JAK inhibitor that is being studied in several immune-mediated inflammatory diseases. In human cellular assays, RINVOQ preferentially inhibits signaling by JAK1 or JAK 1/3 with functional selectivity over cytokine receptors that signal via pairs of JAK2. Upadacitinib (RINVOQ) is being studied in Phase 3 clinical trials for hidradenitis suppurativa, Takayasu arteritis and systemic lupus erythematosus. The use of upadacitinib in non-segmental vitiligo is under regulatory review by the U.S. FDA. RINVOQ is indicated for the treatment of non-segmental vitiligo in adults and adolescents 12 years and older who are candidates for systemic therapy.

U.S. Biotech Industry Analysis

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