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U.S. Pharma Industry Analysis

UpdatedJul 02, 2026
DataAggregated Company Financials
Companies320
  • 7D4.7%
  • 3M10.9%
  • 1Y45.4%
  • YTD12.0%

In the last week, the Pharma industry is up 4.7%, with Eli Lilly up 6.7%. In the same time, Zoetis was down 7.3%. This means that the industry has gained 45% over the past year. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Jul 2026US$2.6tUS$425.2bUS$65.7b15x38.9x6x
Sat, 30 May 2026US$2.4tUS$424.1bUS$66.3b15.4x36.4x5.7x
Mon, 27 Apr 2026US$2.2tUS$408.1bUS$66.8b15.9x32.6x5.3x
Wed, 25 Mar 2026US$2.2tUS$406.1bUS$72.0b16.6x30.6x5.4x
Fri, 20 Feb 2026US$2.4tUS$411.5bUS$73.9b19.7x32.2x5.8x
Sun, 18 Jan 2026US$2.3tUS$402.6bUS$71.5b20.7x31.7x5.6x
Tue, 16 Dec 2025US$2.2tUS$402.7bUS$71.4b20.1x30.8x5.5x
Thu, 13 Nov 2025US$2.1tUS$402.7bUS$71.3b18.1x29x5.1x
Sat, 11 Oct 2025US$1.9tUS$387.6bUS$61.0b19.9x31.5x5x
Mon, 08 Sep 2025US$1.8tUS$387.9bUS$61.0b19x29x4.6x
Wed, 06 Aug 2025US$1.8tUS$383.5bUS$57.8b18.1x30.3x4.6x
Fri, 04 Jul 2025US$1.7tUS$382.7bUS$61.3b18.3x28.5x4.6x
Sun, 01 Jun 2025US$1.7tUS$382.7bUS$61.2b17.8x27.5x4.4x
Tue, 29 Apr 2025US$1.8tUS$379.7bUS$63.1b16.4x28.6x4.7x
Thu, 27 Mar 2025US$1.9tUS$381.1bUS$41.3b17.8x45.1x4.9x
Sat, 22 Feb 2025US$1.9tUS$381.1bUS$39.0b18.6x48.6x5x
Mon, 20 Jan 2025US$1.8tUS$369.3bUS$31.2b18.9x56.1x4.7x
Wed, 18 Dec 2024US$1.8tUS$373.8bUS$30.7b18.6x58.6x4.8x
Fri, 15 Nov 2024US$1.9tUS$373.8bUS$30.5b20.5x61.3x5x
Sun, 13 Oct 2024US$2.0tUS$364.2bUS$25.3b18.7x80.1x5.6x
Tue, 10 Sep 2024US$2.0tUS$364.1bUS$25.5b18.4x79.3x5.5x
Thu, 08 Aug 2024US$1.9tUS$359.7bUS$21.5b16.2x87.1x5.2x
Sat, 06 Jul 2024US$1.9tUS$357.6bUS$13.8b15.1x140.4x5.4x
Mon, 03 Jun 2024US$1.9tUS$358.3bUS$14.1b15.9x133.4x5.2x
Wed, 01 May 2024US$1.8tUS$359.5bUS$17.5b23x104.8x5.1x
Fri, 29 Mar 2024US$1.9tUS$355.3bUS$22.6b19.8x84.3x5.4x
Sun, 25 Feb 2024US$1.9tUS$355.2bUS$24.0b24.1x80x5.4x
Tue, 23 Jan 2024US$1.8tUS$375.2bUS$33.9b26.7x52.1x4.7x
Thu, 21 Dec 2023US$1.7tUS$375.1bUS$33.9b26.4x49.4x4.5x
Sat, 18 Nov 2023US$1.6tUS$375.1bUS$34.0b25.8x48x4.3x
Mon, 16 Oct 2023US$1.7tUS$381.8bUS$43.8b18.3x38.9x4.5x
Wed, 13 Sep 2023US$1.8tUS$381.8bUS$43.9b18.6x40x4.6x
Fri, 11 Aug 2023US$1.7tUS$381.4bUS$44.0b19.1x39.7x4.6x
Sun, 09 Jul 2023US$1.7tUS$392.8bUS$60.2b19x27.6x4.2x
Price to Earnings Ratio

27.6x


Total Market Cap: US$1.7tTotal Earnings: US$60.2bTotal Revenue: US$392.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Pharma Industry Price to Earnings3Y Average 54.2x202420252026
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 38.9x which is lower than its 3-year average PE of 54.2x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 6.0x.
Past Earnings Growth
  • The earnings for companies in the Pharmaceuticals industry have grown 3.0% per year over the last three years.
  • Revenues for these companies have grown 2.7% 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 Market1.64%
Healthcare4.13%
Pharma4.70%
Pharma4.70%
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
LLY Eli LillyUS$1.19k6.7%
+US$66.4b		52.9%PE42x
JNJ Johnson & JohnsonUS$253.985.4%
+US$31.2b		63.3%PE29.1x
MRK MerckUS$125.374.0%
+US$11.8b		52.2%PE34.7x
BMY Bristol-Myers SquibbUS$56.442.6%
+US$2.9b		18.5%PE15.8x
CORT Corcept TherapeuticsUS$88.488.5%
+US$742.9m		24.0%PE203.5x

Latest News

JNJ
US$253.98
Johnson & Johnson
7D
5.4%
1Y
63.3%
CORT
US$88.48
Corcept Therapeutics
7D
8.5%
1Y
24.0%
LLY
US$1,191.74
Eli Lilly
7D
6.7%
1Y
52.9%
TEVA
US$33.44
Teva Pharmaceutical Industries
7D
-2.3%
1Y
96.1%
ZTS
US$72.45
Zoetis
7D
-7.3%
1Y
-54.5%
MRK
US$125.37
Merck
7D
4.0%
1Y
52.2%
Narrative Update • Jun 30

MRK: Late-Stage Pipeline And Oncology Approvals Will Support Higher Future P E Multiple

Analysts have raised the Merck fair value estimate to $155 from $150, pointing to higher long term earnings expectations and multiple expansion, as reflected in recent Street price target increases to as high as $155. Analyst Commentary Recent Street research on Merck reflects a cluster of constructive views, with several bullish analysts lifting price targets and highlighting long term earnings potential.
PFE
US$23.88
Pfizer
7D
-0.7%
1Y
-5.7%
LGND
US$312.01
Ligand Pharmaceuticals
7D
9.5%
1Y
174.5%
Seeking Alpha • Jun 30

Ligand Pharmaceuticals: The Bull Case Is A Biotech ARM, The Bear Case Is Just Another Royalty Trust

Summary Over the past twelve months, Ligand Pharmaceuticals has run from a 52-week low of $112 to a 52-week high of $306, close to a triple. The stock jumped in the final week of June, but the proximate cause was the pricing of $625M of convertible notes due 2031 (struck around a $334 conversion price, a 27.5% premium to the $262 reference) - capital earmarked for the XOMA acquisition. A stock breaking out of a long base on the first recognition of a fundamental change offers asymmetry; a stock that has already tripled and is making new highs on a financing event offers the inverse. Read the full article on Seeking Alpha
NUVB
US$5.42
Nuvation Bio
7D
-16.1%
1Y
164.4%
BMY
US$56.44
Bristol-Myers Squibb
7D
2.6%
1Y
18.5%
EWTX
US$39.15
Edgewise Therapeutics
7D
-7.4%
1Y
200.9%
RGC
US$8.03
Regencell Bioscience Holdings
7D
-6.2%
1Y
-22.5%
TARS
US$60.89
Tarsus Pharmaceuticals
7D
-9.3%
1Y
50.5%
Narrative Update • Jun 24

TARS: Lyme Disease Prevention Trial Progress Will Drive Future Upside Potential

Analysts have modestly revised their price outlook on Tarsus Pharmaceuticals, citing updated expectations for revenue growth of about 36.9%, a profit margin near 34.5%, and a slightly lower assumed future P/E of roughly 11.7x, which together support the new price target relative to the prior fair value view of $100.00. What’s in the News for Tarsus Pharmaceuticals Tarsus Pharmaceuticals reported that the first participant has been dosed in the Phase 2 Calliope clinical trial evaluating TP-05, an investigational oral therapy intended to potentially prevent Lyme disease by killing infected ticks before transmission.
JAZZ
US$237.51
Jazz Pharmaceuticals
7D
3.3%
1Y
116.1%
Narrative Update • Jun 23

JAZZ: HER2 GEA Priority Review Will Support Future Oncology Leadership Narrative

Analysts have lifted the central analyst price target for Jazz Pharmaceuticals stock from $225.53 to $257.00, pointing to stronger conviction in Ziihera's potential uptake in gastroesophageal adenocarcinoma and biliary tract cancer, a firmer outlook for the oncology portfolio, and perceived resilience of the Xywav franchise. Analyst Commentary Recent research on Jazz Pharmaceuticals highlights a clear split between bullish analysts focused on Ziihera driven growth and oncology expansion, and more cautious voices focused on neurology concentration risk and competitive pressure.
RPRX
US$55.78
Royalty Pharma
7D
2.8%
1Y
54.1%
Narrative Update • Jun 19

RPRX: Royalty Deals And Buybacks Will Support Long Term Stock Upside

Analysts have raised their price target for Royalty Pharma stock to $66.00 from $60.61, citing updated views on fair value, discount rate, expected revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Recent Street research on Royalty Pharma points to a cluster of higher price targets and supportive commentary around valuation, execution, and growth prospects.
BLTE
US$142.31
Belite Bio
7D
-5.6%
1Y
150.5%
Analysis Article • Jun 17

Belite Bio (BLTE) Stock Could Be 35% Undervalued After Tinlarebant NDA Submission

Why Belite Bio Stock Is Back in Focus After Tinlarebant NDA Milestone Belite Bio (BLTE) is drawing attention after completing its rolling New Drug Application submission to the FDA for tinlarebant, an oral therapy candidate for Stargardt disease type 1, a rare inherited retinal condition with no approved treatments. See our latest analysis for Belite Bio. Belite Bio’s latest regulatory milestone comes after a period where momentum has cooled in the share price, with the stock down 14.35% on a...