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U.S. Pharma Industry Analysis

UpdatedJan 06, 2026
DataAggregated Company Financials
Companies315
  • 7D-1.7%
  • 3M15.9%
  • 1Y23.6%
  • YTD-1.6%

Over the last 7 days, the Pharma industry has dropped 1.7%, driven by Eli Lilly declining 3.5%. In the past year, the industry has gained 24%. Earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 06 Jan 2026US$2.2tUS$402.6bUS$71.5b19.6x31.1x5.5x
Thu, 04 Dec 2025US$2.2tUS$402.7bUS$71.4b20x30.5x5.4x
Sat, 01 Nov 2025US$1.9tUS$396.3bUS$71.7b18.1x26.5x4.8x
Mon, 29 Sep 2025US$1.7tUS$387.9bUS$60.9b18.3x28.7x4.5x
Wed, 27 Aug 2025US$1.7tUS$387.8bUS$61.0b19.7x28.6x4.5x
Fri, 25 Jul 2025US$1.8tUS$384.0bUS$62.1b18.4x29.1x4.7x
Sun, 22 Jun 2025US$1.7tUS$382.7bUS$61.2b17.6x28.4x4.5x
Tue, 20 May 2025US$1.7tUS$382.6bUS$61.2b17.7x27.4x4.4x
Thu, 17 Apr 2025US$1.7tUS$380.5bUS$48.4b14.9x34.4x4.4x
Sat, 15 Mar 2025US$1.8tUS$380.5bUS$35.2b16.1x52.3x4.8x
Mon, 10 Feb 2025US$1.9tUS$380.7bUS$39.1b19.5x48x4.9x
Wed, 08 Jan 2025US$1.8tUS$369.3bUS$31.3b18.3x56.9x4.8x
Fri, 06 Dec 2024US$1.9tUS$373.8bUS$30.6b19.4x61.1x5x
Sun, 03 Nov 2024US$1.9tUS$373.2bUS$29.3b19.6x64.9x5.1x
Tue, 01 Oct 2024US$2.0tUS$364.1bUS$25.3b19.3x78.5x5.4x
Thu, 29 Aug 2024US$2.1tUS$363.3bUS$19.2b18x106.9x5.6x
Sat, 27 Jul 2024US$1.9tUS$356.5bUS$13.2b16.3x147.5x5.4x
Mon, 24 Jun 2024US$2.0tUS$358.2bUS$14.1b16.5x139x5.5x
Wed, 22 May 2024US$1.9tUS$358.3bUS$14.1b18.3x133.6x5.2x
Fri, 19 Apr 2024US$1.8tUS$357.7bUS$29.8b20.3x60.2x5x
Sun, 17 Mar 2024US$1.9tUS$355.4bUS$22.5b19.8x82.7x5.2x
Tue, 13 Feb 2024US$1.9tUS$354.7bUS$22.8b33.3x81.7x5.2x
Thu, 11 Jan 2024US$1.8tUS$375.2bUS$33.9b27.8x52.3x4.7x
Sat, 09 Dec 2023US$1.7tUS$375.1bUS$33.9b26.6x48.8x4.4x
Mon, 06 Nov 2023US$1.6tUS$376.9bUS$33.9b18.5x48.1x4.3x
Wed, 04 Oct 2023US$1.6tUS$381.8bUS$43.8b19x37.6x4.3x
Fri, 01 Sep 2023US$1.7tUS$381.4bUS$43.8b19.7x39.4x4.5x
Sun, 30 Jul 2023US$1.7tUS$393.6bUS$61.5b18.5x27.8x4.3x
Tue, 27 Jun 2023US$1.7tUS$392.8bUS$60.1b18.6x28.8x4.4x
Thu, 25 May 2023US$1.7tUS$392.9bUS$60.5b18.3x28.1x4.3x
Sat, 22 Apr 2023US$1.7tUS$402.6bUS$63.3b17.8x26.3x4.1x
Mon, 20 Mar 2023US$1.5tUS$401.1bUS$69.3b15.5x22.2x3.8x
Wed, 15 Feb 2023US$1.7tUS$401.8bUS$68.8b18x24.3x4.2x
Fri, 13 Jan 2023US$1.7tUS$403.7bUS$70.6b17.5x24.5x4.3x
Price to Earnings Ratio

24.5x


Total Market Cap: US$1.7tTotal Earnings: US$70.6bTotal Revenue: US$403.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Pharma Industry Price to Earnings3Y Average 53x202420252026
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 31.1x which is lower than its 3-year average PE of 53.0x.
  • The 3-year average PS ratio of 4.8x is lower than the industry's current PS ratio of 5.5x.
Past Earnings Growth
  • Both revenue and earnings for companies in the Pharmaceuticals industry have remained mostly flat over the last three years.
  • This means that sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Industry Trends

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

US Market0.48%
Healthcare-0.16%
Pharma-1.65%
Pharma-1.65%
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?

CompanyLast Price7D1YValuation
MRK MerckUS$107.441.3%
+US$3.4b		6.4%PE14x
RGC Regencell Bioscience HoldingsUS$27.0418.1%
+US$2.0b		21,656.6%PB2751.1x
ZTS ZoetisUS$129.372.3%
+US$1.3b		-20.9%PE21.5x
AXSM Axsome TherapeuticsUS$171.4915.3%
+US$1.1b		104.7%PS15.4x
PFE PfizerUS$25.170.7%
+US$1.0b		-7.2%PE14.6x

Latest News

RGC
US$27.04
Regencell Bioscience Holdings
7D
18.1%
1Y
21,656.6%
GHRS
US$15.53
GH Research
7D
24.2%
1Y
70.5%
JAZZ
US$174.39
Jazz Pharmaceuticals
7D
2.1%
1Y
42.3%

JAZZ: Oncology Data Will Reshape Revenue Mix While Legacy Headwinds Persist

We are raising our Jazz Pharmaceuticals fair value estimate to $188 from $147 as analysts boost price targets following positive HERIZON-GEA-01 data for Ziihera, which they see as a potential new standard of care and a multibillion dollar revenue driver. Analyst Commentary Street research following the HERIZON-GEA-01 topline readout has turned broadly constructive on Jazz Pharmaceuticals, with multiple firms lifting price targets and reiterating positive ratings.
RPRX
US$39.65
Royalty Pharma
7D
1.7%
1Y
52.3%
LLY
US$1,041.51
Eli Lilly
7D
-3.5%
1Y
34.7%
JNJ
US$204.31
Johnson & Johnson
7D
-1.3%
1Y
39.7%
CORT
US$35.00
Corcept Therapeutics
7D
-50.1%
1Y
-31.7%
PFE
US$25.17
Pfizer
7D
0.7%
1Y
-7.2%
AXSM
US$171.49
Axsome Therapeutics
7D
15.3%
1Y
104.7%
BMY
US$53.06
Bristol-Myers Squibb
7D
-2.1%
1Y
-7.1%
WVE
US$15.00
Wave Life Sciences
7D
-12.5%
1Y
14.7%

WVE: Obesity RNA Editing Advances Are Expected To Drive Future Upside

Analysts have lifted their fair value estimate for Wave Life Sciences to approximately $31.60 per share from about $27.21, citing strengthened competitive positioning in genetic medicines, positive obesity pipeline data, and limited negative read-throughs from peer setbacks as key drivers. Analyst Commentary Bullish analysts highlight that recent competitive developments in alpha-1 antitrypsin deficiency have effectively de-risked Wave Life Sciences' editing approach, supporting higher confidence in long term market share and cash flow potential.
MRK
US$107.44
Merck
7D
1.3%
1Y
6.4%

MRK: Cidara Flu Deal Will Likely Expose Overstated Long Term Expectations

Analysts have nudged their fair value estimate for Merck higher, lifting the price target by $1 to $83 as they factor in stronger revenue growth, improved profit margins, and a lower future P/E multiple supported by recent positive research initiations and deal activity. Analyst Commentary Street research around Merck has turned more constructive in recent weeks, with several firms highlighting an improving growth outlook and a more attractive risk reward profile.
TEVA
US$31.00
Teva Pharmaceutical Industries
7D
-1.1%
1Y
43.5%

TEVA: Shares Will Trade Sideways As IRA Pricing Clarity Drives Relief Rally

Analysts have raised their fair value estimate for Teva Pharmaceutical Industries to approximately $32.77 from about $28.61, citing recent price target increases to the mid 20 dollar range, expectations for stable Q3 performance, and a potential relief rally tied to upcoming Austedo IRA pricing clarity. Analyst Commentary Recent Street research reflects a generally constructive stance on Teva, with price targets moving higher in anticipation of stable near term execution and clearer visibility on Austedo economics under the Inflation Reduction Act.
GPCR
US$62.77
Structure Therapeutics
7D
-7.4%
1Y
130.9%
ZTS
US$129.37
Zoetis
7D
2.3%
1Y
-20.9%

ZTS: Execution In Animal Health Leadership Will Drive Medium-Term Upside Potential

Analysts have cut their fair value estimate for Zoetis by about $30,000,000,000 to roughly $200,000,000,000, reflecting expectations for slower mid decade revenue growth, modestly lower margins, and a less generous future earnings multiple amid increasing competitive and product launch headwinds. Analyst Commentary Recent Street research reflects a more balanced stance on Zoetis, with fair value expectations reset lower but many firms still highlighting the company as a structural leader in animal health.
LQDA
US$32.15
Liquidia
7D
-6.6%
1Y
159.3%

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