U.S. Pharma Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 20 Aug 2026	US$2.7t	US$437.5b	US$59.6b	17x	45.2x	6.2x
Sat, 18 Jul 2026	US$2.5t	US$426.7b	US$66.0b	15x	38.3x	5.9x
Mon, 15 Jun 2026	US$2.4t	US$425.3b	US$66.0b	15.2x	37x	5.7x
Wed, 13 May 2026	US$2.2t	US$424.0b	US$65.8b	15.6x	33.7x	5.2x
Fri, 10 Apr 2026	US$2.3t	US$405.9b	US$72.5b	17.2x	31.7x	5.7x
Sun, 08 Mar 2026	US$2.3t	US$406.1b	US$71.9b	18.8x	32x	5.7x
Tue, 03 Feb 2026	US$2.3t	US$405.1b	US$73.9b	20.7x	31.1x	5.7x
Thu, 01 Jan 2026	US$2.3t	US$402.6b	US$71.5b	19.8x	31.6x	5.6x
Sat, 29 Nov 2025	US$2.3t	US$402.7b	US$71.4b	20.6x	31.6x	5.6x
Mon, 27 Oct 2025	US$1.9t	US$389.2b	US$63.5b	17.7x	29.7x	4.8x
Wed, 24 Sep 2025	US$1.8t	US$387.9b	US$60.9b	18.4x	29x	4.6x
Fri, 22 Aug 2025	US$1.8t	US$387.8b	US$61.0b	19.7x	28.7x	4.5x
Sun, 20 Jul 2025	US$1.7t	US$384.0b	US$62.1b	17.7x	28x	4.5x
Tue, 17 Jun 2025	US$1.8t	US$382.7b	US$61.2b	18.3x	29.1x	4.7x
Thu, 15 May 2025	US$1.7t	US$382.6b	US$61.1b	16.6x	27.1x	4.3x
Sat, 12 Apr 2025	US$1.6t	US$380.0b	US$40.6b	15.5x	39.6x	4.2x
Mon, 10 Mar 2025	US$1.9t	US$381.1b	US$39.2b	16.5x	49.1x	5.1x
Wed, 05 Feb 2025	US$1.9t	US$375.6b	US$38.5b	18.3x	48x	4.9x
Fri, 03 Jan 2025	US$1.8t	US$369.3b	US$31.3b	16.5x	57.1x	4.8x
Sun, 01 Dec 2024	US$1.9t	US$373.8b	US$30.6b	19.4x	61x	5x
Tue, 29 Oct 2024	US$2.0t	US$365.3b	US$23.7b	18.1x	83.2x	5.4x
Thu, 26 Sep 2024	US$2.0t	US$364.2b	US$25.3b	18.4x	80.3x	5.6x
Sat, 24 Aug 2024	US$2.0t	US$362.1b	US$21.8b	17.9x	93.7x	5.6x
Mon, 22 Jul 2024	US$2.0t	US$356.5b	US$13.1b	15.9x	149.1x	5.5x
Wed, 19 Jun 2024	US$1.9t	US$358.3b	US$14.1b	15.5x	137.3x	5.4x
Fri, 17 May 2024	US$1.9t	US$358.3b	US$14.0b	18.3x	134.9x	5.3x
Sun, 14 Apr 2024	US$1.8t	US$355.1b	US$23.9b	21.4x	76.5x	5.2x
Tue, 12 Mar 2024	US$1.9t	US$355.3b	US$22.4b	22.4x	83.2x	5.2x
Thu, 08 Feb 2024	US$1.8t	US$354.8b	US$23.1b	28.5x	79.4x	5.2x
Sat, 06 Jan 2024	US$1.7t	US$375.2b	US$33.8b	27.5x	51.7x	4.7x
Mon, 04 Dec 2023	US$1.7t	US$375.2b	US$33.9b	27.2x	48.7x	4.4x
Wed, 01 Nov 2023	US$1.6t	US$383.5b	US$46.5b	13.6x	34.3x	4.2x
Fri, 29 Sep 2023	US$1.7t	US$381.8b	US$43.7b	18.5x	37.8x	4.3x
Sun, 27 Aug 2023	US$1.8t	US$381.6b	US$44.1b	20.5x	40.2x	4.6x

Current Industry PE

Investors are pessimistic on the American 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 45.2x which is lower than its 3-year average PE of 54.6x.

The 3-year average PS ratio of 5.1x is lower than the industry's current PS ratio of 6.2x.

Past Earnings Growth

The earnings for companies in the Pharmaceuticals industry have grown 11% per year over the last three years.
Revenues for these companies have grown 4.7% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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


US Market	-0.79%
Healthcare	3.62%
Pharma	6.01%
Pharma	6.01%

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?

Company	Last Price	7D	1Y	Valuation
LLY Eli Lilly	US$1.28k	4.9% +US$53.5b	81.5%	PE42.7x
MRK Merck	US$152.20	14.5% +US$47.6b	79.8%	PE118.3x
JNJ Johnson & Johnson	US$273.41	4.8% +US$30.2b	52.9%	PE31.3x
PFE Pfizer	US$28.24	7.3% +US$11.0b	11.3%	PE37.1x
BMY Bristol-Myers Squibb	US$67.61	6.1% +US$8.0b	40.1%	PE14.9x

Merck & Co., Inc. And Moderna, Inc. Announce Phase 3 INTerpath-001 Trial Of Intismeran Autogene Plus KEYTRUDA Met Endpoints Of Recurrence-Free Survival And Distant Metastasis-Free Survival In Patients With Completely Resected Stage IIB-IV Melanoma

Merck & Co., Inc. and Moderna, Inc. announced positive topline results from the Phase 3 INTerpath-001 trial evaluating adjuvant treatment with intismeran autogene (intismeran; V940 or mRNA-4157), a novel investigational mRNA-based individualized neoantigen therapy (INT) being jointly developed by Merck and Moderna, in combination with KEYTRUDA (pembrolizumab), Merck’s anti-PD-1 therapy, in patients with completely resected stage IIB-IV melanoma. The trial met its primary endpoint of recurrence-free survival (RFS) and a key secondary endpoint of distant metastasis-free survival (DMFS). This represents the first positive Phase 3 readout for an individualized neoantigen therapy (INT) and for an mRNA-based cancer therapy, as well as the first Phase 3 study to demonstrate a clinically meaningful improvement over KEYTRUDA alone, a standard-of-care immunotherapy, in the adjuvant setting for patients with resected melanoma. At a pre-specified interim analysis, intismeran in combination with KEYTRUDA as adjuvant therapy demonstrated statistically significant and clinically meaningful improvements in RFS and DMFS compared to KEYTRUDA alone for patients with completely resected stage IIB, IIC, III or IV cutaneous melanoma who had not undergone prior treatment with systemic therapy. In accordance with the trial protocol, the study will continue in order to evaluate other key secondary endpoints, including overall survival (OS). The safety profiles of intismeran and KEYTRUDA in this trial were consistent with those observed in previously reported studies for the combination, with no new safety signals observed. Intismeran autogene is an mRNA-based individualized neoantigen therapy (INT) designed specifically for each patient based on the unique set of mutations within their tumor to train and activate the immune system to recognize and fight cancer. Intismeran is designed and produced using a patient's tumor sample to identify the unique mutational signature, or 'fingerprint,' of their cancer and generate an anti-tumor immune response. Each therapy consists of a synthetic mRNA coding for up to 34 neoantigens and is tailored to the unique biology of an individual patient's tumor. Upon administration, the RNA-encoded neoantigen sequences are translated in the body and presented to the immune system, a key step in generating specific T-cell responses against cancer cells. Individualized neoantigen therapies are designed to train and activate an anti-tumor immune response based on the unique mutational signature of a patient's tumor. INTerpath-001 is a randomized, double-blind, placebo- and active-comparator-controlled global Phase 3 trial evaluating the safety and efficacy of intismeran in combination with KEYTRUDA compared to KEYTRUDA alone in patients with high-risk (stage IIB-IV) resected cutaneous melanoma. The trial enrolled 1,137 patients who, following complete surgical resection, were randomized 2:1 to receive intismeran (1 mg every three weeks for up to nine doses) and KEYTRUDA (400 mg every six weeks up to nine cycles [for approximately one year]) versus KEYTRUDA alone for approximately one year until disease recurrence or unacceptable toxicity, or for a total treatment duration of up to approximately 56 weeks, whichever was sooner. The primary endpoint is RFS, defined as the time from randomization to any disease recurrence (local, locoregional, regional or distant) as assessed by the investigator, or death due to any cause. Key secondary endpoints include DMFS, OS, safety, tolerability and quality of life. The INTerpath program currently consists of nine total Phase 2 and Phase 3 clinical trials across multiple tumor types and stages of disease, including melanoma, non-small cell lung cancer (NSCLC), bladder cancer and renal cell carcinoma. Additional clinical studies include the Phase 2b KEYNOTE-942/mRNA-4157-P201 trial in adjuvant melanoma and a Phase 1 study exploring adjuvant pancreatic ductal adenocarcinoma, perioperative gastric carcinoma and perioperative NSCLC. Previously reported Phase 2b results for intismeran in combination with KEYTRUDA from the KEYNOTE-942/mRNA-4157-P201 trial, including the five-year follow-up data presented at the 2026 ASCO Annual Meeting, in which the combination demonstrated a 49% reduction in the risk of recurrence or death (HR=0.51; [95% CI, 0.294-0.887]) and a 59% reduction in the risk of distant metastasis or death (HR=0.411; [95% CI, 0.200-0.843]) compared to KEYTRUDA alone.

U.S. Pharma Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

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Merck & Co., Inc. And Moderna, Inc. Announce Phase 3 INTerpath-001 Trial Of Intismeran Autogene Plus KEYTRUDA Met Endpoints Of Recurrence-Free Survival And Distant Metastasis-Free Survival In Patients With Completely Resected Stage IIB-IV Melanoma

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