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U.S. Pharma Industry Analysis

UpdatedJun 22, 2026
DataAggregated Company Financials
Companies321
  • 7D-3.8%
  • 3M6.4%
  • 1Y37.7%
  • YTD4.0%

Over the last 7 days, the Pharma industry has dropped 3.8%, driven by Eli Lilly declining 2.7%. On the other hand Ligand Pharmaceuticals is actually up 8.5%. This takes the industry's 12 month performance to a gain of 38%. Earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 22 Jun 2026US$2.4tUS$425.2bUS$65.8b14.8x35.8x5.5x
Wed, 20 May 2026US$2.3tUS$425.2bUS$66.3b14.9x34x5.3x
Fri, 17 Apr 2026US$2.2tUS$408.1bUS$66.8b17x33.6x5.5x
Sun, 15 Mar 2026US$2.3tUS$406.1bUS$72.0b17.4x31.8x5.6x
Tue, 10 Feb 2026US$2.4tUS$411.7bUS$74.2b21.2x32.4x5.8x
Thu, 08 Jan 2026US$2.3tUS$402.6bUS$71.5b19.9x31.5x5.6x
Sat, 06 Dec 2025US$2.2tUS$402.8bUS$71.4b19.5x30.2x5.4x
Mon, 03 Nov 2025US$1.9tUS$396.3bUS$71.7b18.1x26.8x4.8x
Wed, 01 Oct 2025US$1.8tUS$387.9bUS$60.9b18.2x28.9x4.5x
Fri, 29 Aug 2025US$1.8tUS$387.9bUS$61.0b19.9x29.1x4.6x
Sun, 27 Jul 2025US$1.8tUS$384.0bUS$62.2b18.2x29.2x4.7x
Tue, 24 Jun 2025US$1.7tUS$382.7bUS$61.2b17.8x28x4.5x
Thu, 22 May 2025US$1.7tUS$382.6bUS$61.2b17.3x27.5x4.4x
Sat, 19 Apr 2025US$1.7tUS$380.5bUS$48.4b16.1x36.1x4.6x
Mon, 17 Mar 2025US$1.8tUS$380.5bUS$35.2b16.1x52.6x4.9x
Wed, 12 Feb 2025US$1.9tUS$380.8bUS$38.9b18x47.9x4.9x
Fri, 10 Jan 2025US$1.8tUS$369.3bUS$31.3b17.8x57.4x4.9x
Sun, 08 Dec 2024US$1.9tUS$373.8bUS$30.6b19.3x61.3x5x
Tue, 05 Nov 2024US$1.9tUS$373.5bUS$29.3b19.5x64.8x5.1x
Thu, 03 Oct 2024US$2.0tUS$364.1bUS$25.2b19.4x79.1x5.5x
Sat, 31 Aug 2024US$2.0tUS$363.6bUS$19.3b18.1x106.3x5.6x
Mon, 29 Jul 2024US$1.9tUS$357.5bUS$12.8b16.3x152.1x5.4x
Wed, 26 Jun 2024US$2.0tUS$357.6bUS$14.0b15.9x140.6x5.5x
Fri, 24 May 2024US$1.9tUS$358.3bUS$14.1b17.8x135.5x5.3x
Sun, 21 Apr 2024US$1.8tUS$357.7bUS$29.8b20.6x59.9x5x
Tue, 19 Mar 2024US$1.9tUS$355.4bUS$22.5b19.6x83.3x5.3x
Thu, 15 Feb 2024US$1.8tUS$354.9bUS$22.8b32.7x80.8x5.2x
Sat, 13 Jan 2024US$1.8tUS$375.2bUS$33.9b26.3x52.6x4.7x
Mon, 11 Dec 2023US$1.7tUS$375.1bUS$33.9b26.6x48.9x4.4x
Wed, 08 Nov 2023US$1.7tUS$376.9bUS$33.9b19.2x48.9x4.4x
Fri, 06 Oct 2023US$1.7tUS$381.8bUS$43.8b19.5x37.7x4.3x
Sun, 03 Sep 2023US$1.7tUS$381.4bUS$43.7b19.6x39.7x4.5x
Tue, 01 Aug 2023US$1.7tUS$393.7bUS$61.5b18.7x27.7x4.3x
Thu, 29 Jun 2023US$1.7tUS$392.8bUS$60.1b18.9x28.8x4.4x
Price to Earnings Ratio

28.8x


Total Market Cap: US$1.7tTotal Earnings: US$60.1bTotal 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 35.8x 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 5.5x.
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 Market1.40%
Healthcare-1.82%
Pharma-3.84%
Pharma-3.84%
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
LGND Ligand PharmaceuticalsUS$274.888.5%
+US$433.5m		139.1%PE35.9x
TRVI Trevi TherapeuticsUS$17.2117.4%
+US$362.0m		199.3%PB14.2x
MBX MBX BiosciencesUS$43.0310.4%
+US$192.8m		342.2%PB4.7x
EWTX Edgewise TherapeuticsUS$36.814.5%
+US$172.1m		159.6%PB8x
ELVN Enliven TherapeuticsUS$45.106.5%
+US$166.9m		122.3%PB6.1x

Latest News

ELVN
US$45.10
Enliven Therapeutics
7D
6.5%
1Y
122.3%
Seeking Alpha • 2h

Enliven Therapeutics: Continuing The Pop Off; What Could Go Wrong?

Summary Enliven Therapeutics has demonstrated strong early data for ELVN-001 in heavily pretreated CML, with a phase 3 trial imminent. ELVN is extremely well-capitalized, boasting nearly $800 million in liquidity and a multi-year operational runway, even before a $400 million public offering. Despite promising clinical progress, ELVN's $3 billion valuation far exceeds what current data and market analogs justify, given no near-term commercial product. I maintain a 'Sell' rating, expecting a more attractive entry point as the market's enthusiasm outpaces realistic commercial prospects for ELVN-001. Read the full article on Seeking Alpha
MRK
US$113.87
Merck
7D
-0.9%
1Y
42.1%
Seeking Alpha • 3h

Merck's Oncology Engine Is Still Accelerating

Summary I continue to believe that Merck & Co., Inc. has an attractive risk/reward profile. Ten days ago, on June 12, the FDA approved both Keytruda and Keytruda Qlex in combination with Welireg for the treatment of a type of kidney cancer called earlier-stage ccRCC. Overall, this "trio" generated $8.23 billion in sales for Merck in Q1, up 12.1% year-over-year. On the other hand, the second half of 2026 is going to be packed with catalysts. I'll discuss these and Merck's latest R&D achievements later in the article. Read the full article on Seeking Alpha
JNJ
US$228.39
Johnson & Johnson
7D
-3.1%
1Y
50.9%
TEVA
US$31.48
Teva Pharmaceutical Industries
7D
-6.6%
1Y
85.5%
HROW
US$42.87
Harrow
7D
10.1%
1Y
38.3%
Analysis Article • Jun 21

Harrow (HROW) Stock Could Be 37% Below Fair Value After VERKAZIA Relaunch

Harrow (HROW) is back in focus after the company re-launched VERKAZIA, a cyclosporine ophthalmic emulsion for vernal keratoconjunctivitis, supported by a broad push around physician education, patient access, and affordability. See our latest analysis for Harrow. Harrow’s recent VERKAZIA news has coincided with a sharp shift in sentiment, with the share price up 29.91% over 30 days and 26.09% over 90 days, yet still showing a year-to-date share price decline of 14.11%. At the same time,...
BMY
US$54.00
Bristol-Myers Squibb
7D
-4.0%
1Y
15.1%
PFE
US$25.21
Pfizer
7D
-3.0%
1Y
4.9%
Analysis Article • Jun 20

Pfizer (PFE) Stock Could Be 10% Undervalued After CFO Exit Raises Execution Questions

Pfizer (PFE) is back in focus after the company said Chief Financial Officer Dave Denton will leave in August, with long-time finance executive Cecile Guegan stepping in as interim CFO during the search for a successor. See our latest analysis for Pfizer. The CFO announcement comes as Pfizer shares trade at US$25.21, with the stock down over the past quarter but posting a 12.52% total shareholder return over the last year. This suggests that shorter term momentum has cooled even as income and...
NUVB
US$5.56
Nuvation Bio
7D
8.2%
1Y
173.9%
EWTX
US$36.81
Edgewise Therapeutics
7D
4.5%
1Y
159.6%
LLY
US$1,098.57
Eli Lilly
7D
-2.7%
1Y
42.6%
MBX
US$43.03
MBX Biosciences
7D
10.4%
1Y
342.2%
Analysis Article • Jun 17

MBX Biosciences (MBX) Stock Looks Fully Valued After New Phase 2 Data

MBX Biosciences (MBX) has drawn fresh attention after publishing full Phase 2 Avail and one-year open-label data for its lead candidate canvuparatide in chronic hypoparathyroidism, alongside confirming plans for a pivotal Phase 3 trial. See our latest analysis for MBX Biosciences. Against this backdrop, MBX Biosciences stock has seen strong momentum, with a 7 day share price return of 29.36% and a 90 day share price return of 41.01%, while the 1 year total shareholder return is very large at...
LGND
US$274.88
Ligand Pharmaceuticals
7D
8.5%
1Y
139.1%
Analysis Article • Jun 16

Ligand Pharmaceuticals (LGND) Stock Could Be 33% Below Fair Value After Its Recent Run

Ligand Pharmaceuticals (LGND) has drawn fresh attention after recent trading, with the stock last closing at US$253.25. For investors, the focus now is on how this biopharmaceutical licensing model aligns with their portfolio goals. See our latest analysis for Ligand Pharmaceuticals. The recent 1 day share price decline of 0.90% to US$253.25 comes after a strong run, with a 30 day share price return of 18.78% and a 1 year total shareholder return of 120.20%, suggesting momentum has been...
VTRS
US$15.37
Viatris
7D
-5.8%
1Y
73.7%
Narrative Update • Jun 16

VTRS: Pipeline Execution And Euro Debt Raise Will Pressure Elevated Expectations

Analysts have raised the Viatris price target by $5 to $22, citing stronger modeled revenue growth, a slightly adjusted profit margin profile, and expectations that ongoing product approvals could support a somewhat higher future P/E multiple. Analyst Commentary Recent Street research around Viatris centers on how the stock lines up on valuation against peers, how reliable the current execution looks, and what the growth path might be over the next few years.
RGC
US$12.01
Regencell Bioscience Holdings
7D
-29.7%
1Y
-49.3%
TRVI
US$17.21
Trevi Therapeutics
7D
17.4%
1Y
199.3%
GHRS
US$22.24
GH Research
7D
9.2%
1Y
90.4%