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U.S. Pharma Industry Analysis

UpdatedMay 22, 2026
DataAggregated Company Financials
Companies322
  • 7D1.9%
  • 3M-1.3%
  • 1Y41.8%
  • YTD2.9%

The Pharma industry is up 1.9% in the last week, with Eli Lilly up 3.5%. This means that the industry has gained 42% over the past year. Looking forward, earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 22 May 2026US$2.3tUS$425.2bUS$66.4b14.9x34.6x5.4x
Sun, 19 Apr 2026US$2.3tUS$408.1bUS$66.8b16.8x33.9x5.6x
Tue, 17 Mar 2026US$2.3tUS$406.1bUS$72.0b17.4x31.8x5.6x
Thu, 12 Feb 2026US$2.4tUS$411.7bUS$74.2b21.4x31.8x5.7x
Sat, 10 Jan 2026US$2.3tUS$402.6bUS$71.5b19.6x32x5.7x
Mon, 08 Dec 2025US$2.2tUS$402.8bUS$71.4b19.5x30.2x5.3x
Wed, 05 Nov 2025US$1.9tUS$395.4bUS$70.7b17.7x27.4x4.9x
Fri, 03 Oct 2025US$1.9tUS$387.9bUS$60.9b19.8x31.4x4.9x
Sun, 31 Aug 2025US$1.8tUS$387.9bUS$61.0b20x29.1x4.6x
Tue, 29 Jul 2025US$1.8tUS$384.0bUS$62.2b17.7x29.2x4.7x
Thu, 26 Jun 2025US$1.7tUS$382.7bUS$61.2b18.3x28.2x4.5x
Sat, 24 May 2025US$1.6tUS$382.6bUS$61.2b17.2x26.9x4.3x
Mon, 21 Apr 2025US$1.7tUS$380.6bUS$48.4b16.1x36x4.6x
Wed, 19 Mar 2025US$1.9tUS$380.5bUS$35.1b16.3x53.2x4.9x
Fri, 14 Feb 2025US$1.9tUS$380.9bUS$39.0b18.2x48x4.9x
Sun, 12 Jan 2025US$1.8tUS$368.6bUS$31.1b17.2x58x4.9x
Tue, 10 Dec 2024US$1.9tUS$373.8bUS$30.6b19.3x61.3x5x
Thu, 07 Nov 2024US$1.9tUS$373.5bUS$29.7b19.9x63.4x5x
Sat, 05 Oct 2024US$2.0tUS$364.1bUS$25.2b18.5x78.4x5.4x
Mon, 02 Sep 2024US$2.1tUS$364.1bUS$25.5b18.1x81.5x5.7x
Wed, 31 Jul 2024US$1.9tUS$357.6bUS$12.9b16.2x150.5x5.4x
Fri, 28 Jun 2024US$2.0tUS$357.6bUS$14.0b16x140.2x5.5x
Sun, 26 May 2024US$1.9tUS$358.3bUS$14.1b17.9x133.7x5.2x
Tue, 23 Apr 2024US$1.8tUS$357.7bUS$29.8b20.6x59.9x5x
Thu, 21 Mar 2024US$1.9tUS$355.4bUS$22.5b20.2x83.9x5.3x
Sat, 17 Feb 2024US$1.9tUS$355.0bUS$23.9b28.3x78.6x5.3x
Mon, 15 Jan 2024US$1.8tUS$375.2bUS$33.9b26.3x52.6x4.7x
Wed, 13 Dec 2023US$1.7tUS$375.1bUS$33.9b26.7x48.9x4.4x
Fri, 10 Nov 2023US$1.7tUS$375.2bUS$34.0b26.2x49.1x4.5x
Sun, 08 Oct 2023US$1.7tUS$381.8bUS$43.8b18.5x38.2x4.4x
Tue, 05 Sep 2023US$1.7tUS$381.4bUS$43.7b19.6x39.7x4.5x
Thu, 03 Aug 2023US$1.7tUS$379.1bUS$44.0b18.7x38.5x4.5x
Sat, 01 Jul 2023US$1.8tUS$392.8bUS$60.2b18.7x29.2x4.5x
Mon, 29 May 2023US$1.7tUS$392.9bUS$60.6b17.8x27.6x4.3x
Price to Earnings Ratio

27.6x


Total Market Cap: US$1.7tTotal Earnings: US$60.6bTotal Revenue: US$392.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Pharma Industry Price to Earnings3Y Average 53.9x202420252026
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 34.6x which is lower than its 3-year average PE of 53.9x.
  • The industry is trading close to its 3-year average PS ratio of 5.0x.
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-0.82%
Healthcare0.65%
Pharma1.94%
Pharma1.94%
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$1.04k3.5%
+US$31.2b		45.6%PE36.7x
MRK MerckUS$115.882.2%
+US$6.1b		48.9%PE32x
BMY Bristol-Myers SquibbUS$59.554.9%
+US$5.7b		26.6%PE16.7x
JNJ Johnson & JohnsonUS$231.730.4%
+US$2.2b		51.8%PE26.5x
ZTS ZoetisUS$80.076.1%
+US$1.9b		-50.6%PE12.6x

Latest News

ZTS
US$80.07
Zoetis
7D
6.1%
1Y
-50.6%
PFE
US$25.95
Pfizer
7D
0.8%
1Y
12.6%
LLY
US$1,041.65
Eli Lilly
7D
3.5%
1Y
45.6%
BMY
US$59.55
Bristol-Myers Squibb
7D
4.9%
1Y
26.6%
ALMS
US$22.17
Alumis
7D
-10.0%
1Y
358.1%
MRK
US$115.88
Merck
7D
2.2%
1Y
48.9%
Narrative Update • May 21

Merck (MRK) – Expands Oncology Leadership with New Clinical Data at ASCO 2026

Announcement Overview Analyst: Qudus Adebara (Founder, Wane Investment House) Merck & Co., Inc. (“Merck” or “the Company”), known as MSD outside the United States and Canada, has announced that it will present more than 100 abstracts spanning over 25 cancer types at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting , scheduled for May 29 – June 2, 2026.
TEVA
US$34.16
Teva Pharmaceutical Industries
7D
-3.3%
1Y
101.7%
ELAN
US$21.32
Elanco Animal Health
7D
-1.5%
1Y
68.3%
JNJ
US$231.73
Johnson & Johnson
7D
0.4%
1Y
51.8%
VTRS
US$16.46
Viatris
7D
-4.6%
1Y
93.6%
Narrative Update • May 18

VTRS: FY26 Guidance And March Investor Event Will Shape Re Rating Potential

Analysts have raised their Viatris price target by $1.78 to $17.50, citing updated assumptions around fair value, discount rates, revenue growth, profit margins, and future P/E expectations. Analyst Commentary Recent research updates on Viatris point to a more constructive stance on the stock, with some firms lifting their valuation targets as they revisit earnings, cost savings and long term guidance assumptions.
JAZZ
US$239.40
Jazz Pharmaceuticals
7D
3.6%
1Y
122.0%
NKTR
US$68.58
Nektar Therapeutics
7D
-7.7%
1Y
592.7%
Narrative Update • May 18

NKTR: Future Phase 3 Autoimmune Data Will Drive Upside Repricing Potential

Narrative Update on Nektar Therapeutics The updated analyst price target for Nektar Therapeutics has shifted from a fair value of $165.00 to $192.00 as analysts factor in recent target changes across the Street and revisit assumptions around revenue growth, profit margins, discount rate and future P/E multiples. Analyst Commentary Recent Street research around Nektar Therapeutics clusters around the potential of its lead asset rezpegaldesleukin in atopic dermatitis and alopecia areata, as well as the implications for long term revenue and earnings power.
OCUL
US$8.22
Ocular Therapeutix
7D
-13.5%
1Y
13.9%
Narrative Update • May 15

OCUL: SOL-1 Phase 3 Clarity Will Drive Future Retinal Franchise Upside

Narrative Update: Ocular Therapeutix Analyst Price Target Change The updated analyst price target for Ocular Therapeutix moves to a range of $27 to $34, up from prior targets clustered around $21 to $24. Analysts point to detailed Phase 3 SOL-1 data that they say clarify approval prospects for Axpaxli and support its potential role in treating wet age-related macular degeneration and diabetic retinopathy.
LQDA
US$61.97
Liquidia
7D
4.5%
1Y
298.3%
Analysis Article • May 13

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Shareholders in Liquidia Corporation ( NASDAQ:LQDA ) may be thrilled to learn that the analysts have just delivered a...
MBX
US$31.79
MBX Biosciences
7D
-10.1%
1Y
154.1%
EWTX
US$32.69
Edgewise Therapeutics
7D
-3.9%
1Y
133.2%