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

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 35.0x which is lower than its 3-year average PE of 54.0x. The industry is trading close to its 3-year average PS ratio of 5.0x.

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

There are no additional sub-industries under this industry.

U.S. Pharma Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 05 Jun 2026	US$2.3t	US$424.1b	US$66.3b	15.3x	35x	5.5x
Sun, 03 May 2026	US$2.3t	US$416.3b	US$62.4b	17x	36.1x	5.4x
Tue, 31 Mar 2026	US$2.2t	US$405.9b	US$71.8b	16.7x	30.7x	5.4x
Thu, 26 Feb 2026	US$2.4t	US$405.7b	US$73.4b	19.9x	32.8x	5.9x
Sat, 24 Jan 2026	US$2.3t	US$404.7b	US$73.2b	19.8x	31.7x	5.7x
Mon, 22 Dec 2025	US$2.2t	US$402.8b	US$71.4b	19.8x	31.3x	5.5x
Wed, 19 Nov 2025	US$2.1t	US$402.7b	US$71.5b	19.4x	29.6x	5.2x
Fri, 17 Oct 2025	US$1.9t	US$389.2b	US$63.5b	18x	29.6x	4.8x
Sun, 14 Sep 2025	US$1.8t	US$387.9b	US$60.9b	18.9x	29.3x	4.6x
Tue, 12 Aug 2025	US$1.6t	US$387.9b	US$60.7b	18.5x	27x	4.2x
Thu, 10 Jul 2025	US$1.7t	US$382.7b	US$61.3b	18.1x	28.4x	4.6x
Sat, 07 Jun 2025	US$1.7t	US$382.7b	US$61.2b	17.1x	27.9x	4.5x
Mon, 05 May 2025	US$1.8t	US$382.7b	US$63.7b	17.2x	27.8x	4.6x
Wed, 02 Apr 2025	US$1.9t	US$380.6b	US$41.2b	16.2x	45.2x	4.9x
Fri, 28 Feb 2025	US$1.9t	US$381.0b	US$39.4b	16.4x	49.1x	5.1x
Sun, 26 Jan 2025	US$1.8t	US$370.4b	US$30.5b	18.4x	59.1x	4.9x
Tue, 24 Dec 2024	US$1.8t	US$369.4b	US$31.1b	16.7x	57.2x	4.8x
Thu, 21 Nov 2024	US$1.8t	US$373.8b	US$30.6b	20.1x	58.1x	4.7x
Sat, 19 Oct 2024	US$2.0t	US$365.3b	US$23.7b	18.6x	85.8x	5.6x
Mon, 16 Sep 2024	US$2.0t	US$364.3b	US$25.4b	18.8x	80.2x	5.6x
Wed, 14 Aug 2024	US$2.0t	US$362.1b	US$22.0b	17.4x	89x	5.4x
Fri, 12 Jul 2024	US$2.0t	US$357.6b	US$13.8b	15.9x	144.8x	5.6x
Sun, 09 Jun 2024	US$1.9t	US$358.3b	US$14.1b	15.6x	136.8x	5.4x
Tue, 07 May 2024	US$1.8t	US$358.0b	US$13.8b	21.1x	133.7x	5.1x
Thu, 04 Apr 2024	US$1.9t	US$355.2b	US$22.7b	24.6x	82.9x	5.3x
Sat, 02 Mar 2024	US$1.9t	US$355.3b	US$22.5b	24.1x	83.8x	5.3x
Mon, 29 Jan 2024	US$1.8t	US$375.2b	US$33.9b	24.6x	52.1x	4.7x
Wed, 27 Dec 2023	US$1.7t	US$375.2b	US$33.9b	31.8x	49.3x	4.4x
Fri, 24 Nov 2023	US$1.6t	US$375.1b	US$33.9b	25.9x	48.2x	4.4x
Sun, 22 Oct 2023	US$1.7t	US$382.7b	US$44.7b	17.6x	37x	4.3x
Tue, 19 Sep 2023	US$1.7t	US$381.8b	US$43.9b	18.5x	39.1x	4.5x
Thu, 17 Aug 2023	US$1.8t	US$381.7b	US$44.0b	19.1x	40.2x	4.6x
Sat, 15 Jul 2023	US$1.7t	US$392.8b	US$60.2b	18.3x	27.7x	4.2x
Mon, 12 Jun 2023	US$1.7t	US$393.0b	US$60.5b	18.6x	28.4x	4.4x


US Market	-0.11%
Healthcare	0.24%
Pharma	-0.52%
Pharma	-0.52%

Company	Last Price	7D	1Y	Valuation
MRK Merck	US$120.26	0.3% +US$913.8m	54.9%	PE33.2x
CORT Corcept Therapeutics	US$74.89	9.5% +US$698.9m	8.5%	PE172.2x
ZTS Zoetis	US$79.52	1.6% +US$524.0m	-52.8%	PE12.5x
EWTX Edgewise Therapeutics	US$37.23	11.8% +US$422.8m	151.2%	PB8.1x
ELAN Elanco Animal Health	US$24.71	3.0% +US$364.6m	84.0%	PS2.5x

Announcement • May 27

Nuvation Bio Presents New Quality-Of-Life Data for Ibtrozi (Taletrectinib) in Patients with Ros1-Positive Non-Small Cell Lung Cancer At Asco 2026 Annual Meeting

Nuvation Bio Inc. announced new patient-reported outcomes data from the pivotal TRUST-II study of IBTROZI (taletrectinib) in patients with advanced ROS1-positive (ROS1+) non-small cell lung cancer (NSCLC). TRUST-II is a global Phase 2 study evaluating the safety and efficacy of IBTROZI in patients with advanced ROS1+ NSCLC, including both TKI-naïve and TKI-pretreated populations. This analysis evaluated responses from 69 TRUST-II patients (TKI-naïve n=23; TKI-pretreated n=46) in North America and Europe using two validated questionnaires that capture quality-of-life and symptom impact data: European Organization for Research and Treatment of Cancer (EORTC) QLQ-C30 and EORTC QLQ-LC13. Findings include the following: Mean changes from baseline improved or remained stable for most domains across both questionnaires. Quality-of-life and cognitive function scores improved from baseline or remained stable over time in both TKI-naïve and TKI-pretreated patients. At the first assessment (day 1 of cycle 2), 88% of patients reported improved or stable global health quality-of-life scores, including 93% of TKI-pretreated patients. The majority of patients in both subgroups improved or remained stable across subsequent time points throughout treatment. At the first assessment, 84-96% of patients reported improved or stable scores for coughing and shortness of breath, with no worsening of cough in TKI-naïve patients, and these improvements were sustained through eight months of treatment. IBTROZI provided rapid relief from burdensome symptoms, including cough and shortness of breath. Cognitive function scores improved or remained stable throughout the course of treatment with IBTROZI. Nuvation Bio announced in June 2025 that the U.S. Food and Drug Administration (FDA) approved IBTROZI for the treatment of adult patients with locally advanced or metastatic ROS1+ NSCLC. In May 2026, the FDA accepted a supplemental New Drug Application (sNDA) with updated data for IBTROZI with a target action date of January 4, 2027. IBTROZI is also approved for patients with advanced ROS1+ NSCLC in Japan, where it is marketed by Nippon Kayaku, and in China, where it is marketed by Innovent Biologics under the brand name DOVBLERON. Additionally, Nuvation Bio, along with its partner Eisai, announced in March 2026 that the Marketing Authorisation Application (MAA) for taletrectinib was validated by the European Medicines Agency for full approval consideration with a standard review timeline. A separate "Trial in Progress" poster on the TRUST-IV Phase 3 study will also be presented at ASCO. IBTROZI is an oral, potent, CNS-active, selective, next-generation ROS1 inhibitor therapy. On June 11, 2025, following Priority Review and Breakthrough Therapy designations for both TKI-naïve and TKI-pretreated disease, the U.S. Food and Drug Administration (FDA) approved taletrectinib for the treatment of adult patients with locally advanced or metastatic ROS1+ NSCLC. The TRUST clinical program comprises three registrational studies evaluating the safety and efficacy of IBTROZI. TRUST-I (NCT04395677) and TRUST-II (NCT04919811) are Phase 2 single-arm studies evaluating IBTROZI for the treatment of adults with advanced ROS1+ NSCLC in China (N=173) and globally (N=189), respectively. The primary endpoint of both studies is confirmed objective response rate (cORR) as assessed by an independent review committee. TRUST-IV (NCT07154706) is a Phase 3 placebo-controlled study evaluating IBTROZI for the adjuvant treatment of adults with resected early-stage ROS1+ NSCLC. The study will enroll approximately 180 patients in the U.S., Canada, Europe, Japan and China. The primary endpoint is disease-free survival as determined by investigator, and the primary completion date is estimated to be in 2030. Nuvation Bio is also sponsoring TRUST-III (NCT06564324), a confirmatory randomized Phase 3 study evaluating IBTROZI versus crizotinib in 194 patients in China with advanced ROS1+ NSCLC who have not previously received ROS1 TKIs. IBTROZI is indicated for the treatment of adult patients with locally advanced or metastatic ROS1+ non-small cell lung cancer (NSCLC). Hepatotoxicity, including drug-induced liver injury and fatal adverse reactions, can occur. 88% of patients experienced increased AST, including 10% Grade 3/4. 85% of patients experienced increased ALT, including 13% Grade 3/4. Fatal liver events occurred in 0.6% of patients. Median time to first onset of AST or ALT elevation was 15 days (range: 3 days to 20.8 months). Increased AST or ALT each led to dose interruption in 7% of patients and dose reduction in 5% and 9% of patients, respectively. Permanent discontinuation was caused by increased AST, ALT, or bilirubin each in 0.3% and by hepatotoxicity in 0.6% of patients. Concurrent elevations in AST or ALT =3 times the ULN and total bilirubin =2 times the ULN, with normal alkaline phosphatase, occurred in 0.6% of patients. Interstitial Lung Disease (ILD)/Pneumonitis: Severe, life-threatening, or fatal ILD or pneumonitis can occur. ILD/pneumonitis occurred in 2.3% of patients, including 1.1% Grade 3/4. One fatal ILD case occurred at the 400 mg daily dose. Median time to first onset of ILD/pneumonitis was 3.8 months (range: 12 days to 11.8 months). ILD/pneumonitis led to dose interruption in 1.1% of patients, dose reduction in 0.6% of patients, and permanent discontinuation in 0.6% of patients. QTc Interval Prolongation: QTc interval prolongation can occur, which can increase the risk for ventricular tachyarrhythmias (e.g., torsades de pointes) or sudden death. IBTROZI prolongs the QTc interval in a concentration-dependent manner. In patients who received IBTROZI and underwent at least one post baseline ECG, QTcF increase of >60 msec compared to baseline and QTcF >500 msec occurred in 13% and 2.6% of patients, respectively. 3.4% of patients experienced Grade =3. Median time from first dose of IBTROZI to onset of ECG QT prolongation was 22 days (range: 1 day to 38.7 months). Dose interruption and dose reduction each occurred in 2.8% of patients. Significant QTc interval prolongation may occur when IBTROZI is taken with food, strong and moderate CYP3A inhibitors, and/or drugs with a known potential to prolong QTc. Administer IBTROZI on an empty stomach. Avoid concomitant use with strong and moderate CYP3A inhibitors and/or drugs with a known potential to prolong QTc. Hyperuricemia: Hyperuricemia can occur and was reported in 14% of patients, with 16% of these requiring urate-lowering medication without pre-existing gout or hyperuricemia. 0.3% of patients experienced Grade =3. Median time to first onset was 2.1 months (range: 7 days to 35.8 months). Dose interruption occurred in 0.3% of patients. Myalgia with Creatine Phosphokinase (CPK) Elevation: Myalgia with or without CPK elevation can occur. Myalgia occurred in 10% of patients. Median time to first onset was 11 days (range: 2 days to 10 months).

U.S. Pharma Industry Analysis

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