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
Sat, 11 Jul 2026	US$2.6t	US$425.2b	US$66.0b	14.9x	39.2x	6.1x
Mon, 08 Jun 2026	US$2.4t	US$425.4b	US$66.2b	14.9x	36.5x	5.7x
Wed, 06 May 2026	US$2.3t	US$416.4b	US$62.4b	16.8x	36.1x	5.4x
Fri, 03 Apr 2026	US$2.3t	US$405.9b	US$71.7b	16.4x	32.2x	5.7x
Sun, 01 Mar 2026	US$2.4t	US$405.9b	US$72.4b	20x	33.5x	6x
Tue, 27 Jan 2026	US$2.3t	US$404.7b	US$73.2b	19.9x	31.4x	5.7x
Thu, 25 Dec 2025	US$2.3t	US$402.8b	US$71.4b	19.9x	31.7x	5.6x
Sat, 22 Nov 2025	US$2.1t	US$402.7b	US$71.4b	19.9x	29.9x	5.3x
Mon, 20 Oct 2025	US$1.9t	US$389.2b	US$63.5b	17.6x	29.4x	4.8x
Wed, 17 Sep 2025	US$1.8t	US$387.9b	US$60.9b	18.7x	29x	4.6x
Fri, 15 Aug 2025	US$1.7t	US$387.8b	US$60.8b	19.3x	27.8x	4.4x
Sun, 13 Jul 2025	US$1.8t	US$382.7b	US$61.3b	18.1x	28.7x	4.6x
Tue, 10 Jun 2025	US$1.7t	US$382.7b	US$61.2b	17.3x	28.1x	4.5x
Thu, 08 May 2025	US$1.7t	US$382.9b	US$64.1b	16.9x	26.4x	4.4x
Sat, 05 Apr 2025	US$1.8t	US$379.9b	US$41.3b	16x	42.8x	4.7x
Mon, 03 Mar 2025	US$2.0t	US$381.1b	US$39.3b	16.7x	49.8x	5.1x
Wed, 29 Jan 2025	US$1.9t	US$370.4b	US$30.5b	19x	60.8x	5x
Fri, 27 Dec 2024	US$1.8t	US$369.4b	US$31.1b	16.9x	58.4x	4.9x
Sun, 24 Nov 2024	US$1.8t	US$373.8b	US$30.6b	20.5x	59.3x	4.8x
Tue, 22 Oct 2024	US$2.0t	US$365.3b	US$23.7b	18.5x	85.8x	5.6x
Thu, 19 Sep 2024	US$2.0t	US$364.2b	US$25.4b	18.9x	80.3x	5.6x
Sat, 17 Aug 2024	US$2.0t	US$362.1b	US$21.8b	17.3x	92.2x	5.6x
Mon, 15 Jul 2024	US$2.0t	US$357.7b	US$13.8b	15.9x	146.2x	5.7x
Wed, 12 Jun 2024	US$1.9t	US$358.3b	US$14.1b	15.9x	137.9x	5.4x
Fri, 10 May 2024	US$1.9t	US$358.2b	US$13.5b	20.4x	137.8x	5.2x
Sun, 07 Apr 2024	US$1.9t	US$355.2b	US$22.8b	24.7x	82.2x	5.3x
Tue, 05 Mar 2024	US$1.9t	US$355.3b	US$22.5b	24.1x	84.5x	5.3x
Thu, 01 Feb 2024	US$1.8t	US$351.7b	US$24.9b	28.7x	71x	5x
Sat, 30 Dec 2023	US$1.7t	US$375.2b	US$33.8b	31.9x	49.9x	4.5x
Mon, 27 Nov 2023	US$1.7t	US$375.1b	US$33.9b	26.2x	48.8x	4.4x
Wed, 25 Oct 2023	US$1.6t	US$382.7b	US$44.7b	14.7x	36.7x	4.3x
Fri, 22 Sep 2023	US$1.7t	US$381.8b	US$43.9b	18.9x	38.4x	4.4x
Sun, 20 Aug 2023	US$1.8t	US$381.6b	US$44.1b	18.5x	40.4x	4.7x
Tue, 18 Jul 2023	US$1.7t	US$392.8b	US$60.2b	18.2x	27.7x	4.2x

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 39.2x which is lower than its 3-year average PE of 54.3x.

The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 6.1x.

Past Earnings Growth

The earnings for companies in the Pharmaceuticals industry have grown 3.1% 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 Market	0.74%
Healthcare	-1.52%
Pharma	-2.04%
Pharma	-2.04%

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
CRNX Crinetics Pharmaceuticals	US$83.58	97.9% +US$4.4b	161.8%	PS487.7x
EWTX Edgewise Therapeutics	US$45.41	14.8% +US$629.4m	228.1%	PB9.9x
DFTX Definium Therapeutics	US$47.07	6.5% +US$382.3m	484.0%	PB22.4x
ZTS Zoetis	US$75.56	1.0% +US$318.6m	-51.2%	PE11.9x
ALMS Alumis	US$28.31	6.8% +US$230.8m	704.3%	PS429.6x

Merck Receives Fda Approval for Keytruda and Keytruda Qlex Each with Padcev as Treatment Before and After Surgery for Adults with Muscle-Invasive Bladder Cancer

Merck announced the U.S. Food and Drug Administration approved KEYTRUDA (pembrolizumab) and KEYTRUDA QLEX (pembrolizumab and berahyaluronidase alfa-pmph), Merck’s anti-PD-1 therapies, each in combination with Padcev (enfortumab vedotin-ejfv), as neoadjuvant treatment and then continued after cystectomy as adjuvant treatment for the treatment of adult patients with muscle-invasive bladder cancer (MIBC). These approvals represent the first and only PD-1 inhibitor plus antibody-drug conjugate (ADC) regimens approved for adults with MIBC regardless of cisplatin eligibility. These approvals are based on data from the Phase 3 KEYNOTE-B15 trial (also known as EV-304), which was conducted in collaboration with Pfizer and Astellas and enrolled 808 patients. They also expand the previously approved indication based on the Phase 3 KEYNOTE-905 trial (also known as EV-303) for KEYTRUDA and KEYTRUDA QLEX, each in combination with Padcev, in the U.S. as treatment before and after surgery for adult patients with MIBC who are ineligible for cisplatin-based chemotherapy. In KEYNOTE-B15, KEYTRUDA plus Padcev, given before and after surgery, demonstrated a statistically significant improvement in event-free survival (EFS), reducing the risk of EFS events (defined as disease progression, recurrence or death) by 47% (HR=0.53 [95% CI, 0.41-0.70]; p<0.0001; 87/405 [21%] versus 146/403 [36%]) in patients with MIBC who are eligible for cisplatin-based chemotherapy compared to neoadjuvant chemotherapy (gemcitabine and cisplatin) and surgery. KEYTRUDA QLEX is contraindicated in patients with known hypersensitivity to berahyaluronidase alfa, hyaluronidase or to any of its excipients. KEYTRUDA and KEYTRUDA QLEX are associated with the following Warnings and Precautions: severe and fatal immune-mediated adverse reactions in any or multiple organs, which can occur during or after treatment, including pneumonitis, colitis, hepatitis, endocrinopathies, nephritis, dermatologic reactions, solid organ transplant rejection, other transplant (including corneal graft) rejection; severe and life-threatening infusion or injection-related reactions; fatal and other serious complications in patients who receive allogeneic hematopoietic stem cell transplantation before or after beginning treatment; embryo-fetal toxicity; and increased mortality in patients with multiple myeloma when KEYTRUDA or KEYTRUDA QLEX is added to a thalidomide analogue plus dexamethasone, which is not recommended outside of controlled trials. Immune-mediated adverse reactions listed here may not include all such possible severe or fatal reactions. KEYNOTE-B15, also known as EV-304, is an open-label, randomized, multicenter, active-control Phase 3 trial evaluating perioperative KEYTRUDA in combination with Padcev and surgery (radical cystectomy [RC] and pelvic lymph node dissection [PLND]) versus neoadjuvant chemotherapy (gemcitabine plus cisplatin) and surgery in patients with previously untreated MIBC who are eligible for cisplatin-based chemotherapy. TAdverse reactions leading to dose interruption of KEYTRUDA in the adjuvant phase occurred in 39% of patients who received KEYTRUDA in the adjuvant phase. The most common adverse reactions (=2%) leading to dose interruption of KEYTRUDA were diarrhea (6%), urinary tract infection (5%), COVID-19 (3.6%), rash (2.8%) and nausea (2%). KEYNOTE-905, also known as EV-303, is an open-label, randomized, multi-arm, controlled Phase 3 trial evaluating perioperative KEYTRUDA, with or without Padcev, versus surgery alone in patients with MIBC who are either not eligible for or declined cisplatin-based chemotherapy. The trial was conducted in collaboration with Pfizer and Astellas and enrolled 344 patients who were randomized 1:1 to receive either: Neoadjuvant KEYTRUDA 200 mg intravenously on Day 1 and Padcev 1.25 mg/kg intravenously on Days 1 and 8 of each 21-day cycle for three cycles prior to surgery, followed by adjuvant KEYTRUDA 200 mg on Day 1 of each 21-day cycle for 14 cycles and adjuvant Padcev 1.25 mg/kg on Days 1 and 8 of each 21-day cycle for six cycles (n=170). Immediate RC and PLND alone (n=174). The major efficacy outcome measure was EFS as assessed by BICR, defined as the time from randomization to the first occurrence of the following events: disease progression preventing curative surgery, failure to undergo surgery for participants with muscle invasive residual disease, incomplete surgical resection, local or distant recurrence after surgery or death.

U.S. Pharma Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Teva Signs Global Ocrevus Biosimilar Deal With Polpharma Biologics Expanding MS Pipeline

Pfizer: The Post-Pandemic Turnaround Is Already Underway

Merck Receives Fda Approval for Keytruda and Keytruda Qlex Each with Padcev as Treatment Before and After Surgery for Adults with Muscle-Invasive Bladder Cancer

Corcept Therapeutics: Recent Relacorilant Rejection Aside, A Good News Story For Investors

DFTX: Phase 3 Depression Data Will Drive Repricing Of Psychedelic Franchise

Auvelity and Symbravo Approvals Spark Pipeline Acceleration at Axsome Therapeutics

Johnson & Johnson Receives Fda Approval for Dual Energy Thermocool Smarttouch Sf Platform

ZTS: Depressed Sentiment Will Set Up Long-Term Premium Portfolio Recovery

Imapextide Wins FDA Orphan Drug Status as MBX Biosciences Advances in Rare Disease Trials

Vertex Pharmaceuticals Incorporated (NasdaqGS:VRTX) agreed to acquire Crinetics Pharmaceuticals, Inc. (NasdaqGS:CRNX) for $9.2 billion.

Co-Founder exercised options and sold US$7.8m worth of stock

Alumis Reports Positive Phase 3 Data and Pushes Back Envudeucitinib NDA to Q4 2026

Bristol-Myers Squibb: Cash Flow Machine, Outsized Growth Portfolio, And Inflation Beating Incomes

RPRX: Royalty Deals And Buybacks Will Test Rich Earnings Assumptions

CEO, President notifies of intention to sell stock

Eli Lilly Surges Past Q1 Forecasts With Strong GLP-1 Demand and Raised 2026 Outlook