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 36.5x which is lower than its 3-year average PE of 54.1x. The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 5.7x.

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
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
Thu, 15 Jun 2023	US$1.7t	US$392.8b	US$60.1b	18.9x	28.7x	4.4x


US Market	-2.49%
Healthcare	1.76%
Pharma	3.32%
Pharma	3.32%

Company	Last Price	7D	1Y	Valuation
LLY Eli Lilly	US$1.13k	4.5% +US$43.9b	46.2%	PE39.9x
JNJ Johnson & Johnson	US$232.77	4.1% +US$22.3b	50.0%	PE26.6x
MRK Merck	US$120.79	4.9% +US$13.9b	52.3%	PE33.4x
BMY Bristol-Myers Squibb	US$57.27	4.2% +US$4.7b	16.9%	PE16.1x
PFE Pfizer	US$26.04	1.6% +US$2.3b	8.6%	PE19.8x

Announcement • Jun 04

Teva Pharmaceutical Industries Ltd. Launches AHZANTIVE Aflibercept Biosimilar in Europe

Teva Pharmaceutical Industries Ltd. announced the launch of AHZANTIVE (aflibercept), a biosimilar to Eylea, in Europe further strengthening the Company’s growing biosimilars portfolio and expanding its presence in ophthalmology. The launch of AHZANTIVE pre-filled syringes began in May 2026 across several European markets, including France, Germany, Spain, and The Netherlands. The launch supports broader availability of biosimilar treatment options for patients living with serious retinal diseases and provides healthcare professionals with additional high-quality therapeutic choices. Teva expects to launch in additional markets later this year. The launch follows Teva’s semi-exclusive commercialization agreement with Klinge Biopharma GmbH and Formycon AG in major parts of Europe and Israel. AHZANTIVE is a biosimilar to Eylea (aflibercept), with comparable efficacy, safety and immunogenicity to the reference product. It received European Commission approval in 2025 for the treatment of Neovascular Age-Related ('wet') Macular Degeneration (nAMD) and other serious retinal diseases such as Diabetic Macular Edema (DME), visual impairment due to Myopic Choroidal Neovascularisation (CNV) and Macular Edema following Retinal Vein Occlusion (RVO). AHZANTIVE is a medicine used to treat adults with Neovascular ('wet') age-related macular degeneration (AMD), in which abnormal blood vessel growth beneath the macula (central part of the retina) leads to fluid and blood leakage, swelling and progressive central vision loss; impaired vision due to macular oedema (swelling) secondary to retinal vein occlusion (RVO), including central (CRVO) and branch forms (BRVO); impaired vision due to diabetic macular oedema (DME); impaired vision due to myopic choroidal neovascularization (mCNV), a serious complication of pathological myopia (severe short-sightedness) in which abnormal blood vessels develop beneath the retina, leading to progressive vision loss. AHZANTIVE contains the active substance aflibercept and is a ‘biosimilar medicine’; this means that AHZANTIVE is highly similar to another biological medicine (the ‘reference medicine’) that is already authorized in the EU. The reference medicine for AHZANTIVE is Eylea.

Announcement • May 22

Indivior Pharmaceuticals Announces Findings From Real-World Evidence Studies on Monthly Injectable Buprenorphine (SUBLOCADE)

Indivior Pharmaceuticals, Inc. announced findings from two new real-world evidence studies showing that adherence to extended-release buprenorphine, a monthly injectable commercially available as SUBLOCADE®, is associated with lower relapse risk, fewer infection-related complications, and reduced healthcare utilization among people living with opioid use disorder (OUD). One retrospective claims analysis, published in Drug and Alcohol Dependence Reports, analyzed 3,400 patients’ 12-month adherence rates to monthly injectable buprenorphine and its association with return to opioid use. Patients adherent to extended-release buprenorphine were 3.5 to 8.1 times less likely to return to opioid use compared to other groups who were non-adherent, or adherent to other forms of MOUD. Additional relapse risk factors included younger age, male sex, Medicaid coverage, urban residence, comorbid alcohol or other substance use disorders, skin infections, and limited prior engagement with buprenorphine treatment before initiation of the extended-release injection. A second retrospective cohort study, published in The Journal of Substance Use and Addiction Treatment, compared infectious disease outcomes and healthcare utilization between 467 patients receiving monthly injectable buprenorphine and nearly 120,000 patients on daily oral buprenorphine. Patients adherent to extended-release buprenorphine had a 62% reduction in bacteremia incidence (bloodstream infections) compared to those adherent to oral buprenorphine. Furthermore, patients in the extended-release buprenorphine group had lower overall healthcare utilization during the 6-month follow-up. This included 56% fewer inpatient visits, 22% fewer ED visits, 21% fewer all-cause outpatient visits, and 77% fewer sexually transmitted infections-related outpatient visits. As both studies were retrospective real-world evidence analyses using existing claims and electronic health record data, these findings should be viewed in the context of the study designs and data-source possibilities. Findings from the relapse analysis, published in Drug and Alcohol Dependence Reports, are available. Relapse was identified using claims-based proxy measures, and some treatment or outcome events may not have been fully captured in administrative claims data, including during the COVID-19 pandemic. The infectious disease and healthcare utilization analysis, published in The Journal of Substance Use and Addiction Treatment, is available. This analysis may not capture care received outside the data network. The size and duration of the extended-release cohort may limit precision for some comparisons. Both studies were funded by Indivior and conducted in partnership with external academic and research collaborators using large U.S. claims and electronic health record–linked datasets. SUBLOCADE® (buprenorphine extended-release) injection, for subcutaneous use, CIII. SUBLOCADE is indicated for the treatment of moderate to severe opioid use disorder in patients who have initiated treatment with a single dose of a transmucosal buprenorphine product or who are already being treated with buprenorphine. SUBLOCADE should be used as part of a complete treatment plan that includes counseling and psychosocial support. WARNING: RISK OF SERIOUS HARM OR DEATH WITH INTRAVENOUS ADMINISTRATION; SUBLOCADE RISK EVALUATION AND MITIGATION STRATEGY. Serious harm or death could result if administered intravenously. SUBLOCADE forms a solid mass upon contact with body fluids and may cause occlusion, local tissue damage, and thrombo-embolic events, including life-threatening pulmonary emboli, if administered intravenously. Because of the risk of serious harm or death that could result from intravenous self-administration, SUBLOCADE is only available through a restricted program call the SUBLOCADE REMS Program. Healthcare settings and pharmacies that order and dispense SUBLOCADE must be certified in this program and comply with the REMS requirements. Hypersensitivity to buprenorphine or any other ingredients in SUBLOCADE. Addiction, Abuse, and Misuse: SUBLOCADE contains buprenorphine, a Schedule III controlled substance that can be abused in a manner similar to other opioids. Monitor patients for conditions indicative of diversion or progression of opioid dependence and addictive behaviors. Respiratory Depression: Life threatening respiratory depression and death have occurred in association with buprenorphine. Warn patients of the potential danger of self-administration of benzodiazepines or other CNS depressants while under treatment with SUBLOCADE. Risk of Serious Injection Site Reactions: Likelihood may increase with inadvertent intramuscular or intradermal administration. Evaluate and treat as appropriate. The most common injection site reactions are pain, erythema, and pruritus with some involving abscess, ulceration, and necrosis. Neonatal Opioid Withdrawal Syndrome: Neonatal opioid withdrawal syndrome (NOWS) is an expected and treatable outcome of prolonged use of opioids during pregnancy. Adrenal Insufficiency: If diagnosed, treat with physiologic replacement of corticosteroids, and wean patient off of the opioid. Risk of Opioid Withdrawal with Abrupt Discontinuation: If treatment with SUBLOCADE is discontinued, monitor patients for several months for withdrawal and treat appropriately. Risk of Hepatitis, Hepatic Events: Monitor liver function tests prior to and during treatment. Risk of Withdrawal in Patients Dependent on Full Agonist Opioids: Verify that patients have tolerated transmucosal buprenorphine before injecting SUBLOCADE. Treatment of Emergent Acute Pain: Treat pain with a non-opioid analgesic whenever possible. If opioid therapy is required, monitor patients closely because higher doses may be required for analgesic effect. Adverse reactions commonly associated with SUBLOCADE (in =5% of subjects) were constipation, headache, nausea, injection site pruritus, vomiting, increased hepatic enzymes, fatigue, and injection site pain. For more information about SUBLOCADE, the full Prescribing information including BOXED WARNING, and Medication Guide, visit.

U.S. Pharma Industry Analysis

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