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 35.9x which is lower than its 3-year average PE of 54.0x. The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 5.6x.

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
Wed, 27 May 2026	US$2.4t	US$424.1b	US$66.2b	15.5x	35.8x	5.6x
Fri, 24 Apr 2026	US$2.2t	US$408.1b	US$66.8b	16.1x	33.2x	5.4x
Sun, 22 Mar 2026	US$2.2t	US$406.2b	US$72.0b	16.6x	30.6x	5.4x
Tue, 17 Feb 2026	US$2.4t	US$411.5b	US$73.9b	20.2x	32.3x	5.8x
Thu, 15 Jan 2026	US$2.3t	US$402.6b	US$71.5b	20.9x	32x	5.7x
Sat, 13 Dec 2025	US$2.2t	US$402.8b	US$71.4b	20x	30.5x	5.4x
Mon, 10 Nov 2025	US$2.0t	US$396.3b	US$70.8b	17.9x	27.7x	4.9x
Wed, 08 Oct 2025	US$1.9t	US$387.6b	US$61.0b	18.3x	31.4x	4.9x
Fri, 05 Sep 2025	US$1.8t	US$387.9b	US$61.0b	18.9x	29.2x	4.6x
Sun, 03 Aug 2025	US$1.7t	US$382.0b	US$54.8b	17.8x	31.5x	4.5x
Tue, 01 Jul 2025	US$1.7t	US$382.7b	US$61.2b	17.5x	28x	4.5x
Thu, 29 May 2025	US$1.7t	US$382.6b	US$61.2b	17.6x	27.2x	4.4x
Sat, 26 Apr 2025	US$1.8t	US$379.6b	US$63.1b	16.2x	28.1x	4.7x
Mon, 24 Mar 2025	US$1.9t	US$381.1b	US$41.3b	17x	45.6x	4.9x
Wed, 19 Feb 2025	US$1.8t	US$381.0b	US$39.0b	18.2x	46.9x	4.8x
Fri, 17 Jan 2025	US$1.8t	US$369.3b	US$31.2b	18.8x	56.7x	4.8x
Sun, 15 Dec 2024	US$1.8t	US$373.8b	US$30.6b	18.4x	59.4x	4.9x
Tue, 12 Nov 2024	US$1.9t	US$373.6b	US$30.6b	20.9x	62x	5.1x
Thu, 10 Oct 2024	US$2.0t	US$364.1b	US$25.2b	18.4x	79.2x	5.5x
Sat, 07 Sep 2024	US$2.0t	US$364.1b	US$25.5b	17.8x	78.9x	5.5x
Mon, 05 Aug 2024	US$1.9t	US$359.3b	US$22.1b	15.8x	86.8x	5.3x
Wed, 03 Jul 2024	US$2.0t	US$357.6b	US$13.8b	15.4x	142.3x	5.5x
Fri, 31 May 2024	US$1.9t	US$358.3b	US$14.1b	15.7x	132.2x	5.2x
Sun, 28 Apr 2024	US$1.8t	US$359.5b	US$17.5b	22.4x	102.8x	5x
Tue, 26 Mar 2024	US$1.9t	US$355.3b	US$22.6b	19.2x	82.6x	5.3x
Thu, 22 Feb 2024	US$1.9t	US$355.0b	US$23.9b	28.7x	78.6x	5.3x
Sat, 20 Jan 2024	US$1.7t	US$375.2b	US$33.9b	27.7x	51.6x	4.7x
Mon, 18 Dec 2023	US$1.6t	US$375.1b	US$33.9b	26.7x	48.6x	4.4x
Wed, 15 Nov 2023	US$1.6t	US$375.6b	US$34.1b	28.3x	47.9x	4.4x
Fri, 13 Oct 2023	US$1.7t	US$381.8b	US$43.8b	17.2x	39x	4.5x
Sun, 10 Sep 2023	US$1.8t	US$381.8b	US$43.9b	19.1x	41.6x	4.8x
Tue, 08 Aug 2023	US$1.7t	US$379.5b	US$42.9b	20.5x	39.7x	4.5x
Thu, 06 Jul 2023	US$1.7t	US$392.8b	US$60.2b	19.1x	28.9x	4.4x
Sat, 03 Jun 2023	US$1.7t	US$393.0b	US$60.6b	18.9x	28.3x	4.4x


US Market	2.46%
Healthcare	1.39%
Pharma	2.61%
Pharma	2.61%

Company	Last Price	7D	1Y	Valuation
LLY Eli Lilly	US$1.06k	4.2% +US$38.6b	46.8%	PE37.6x
MRK Merck	US$119.72	4.8% +US$13.5b	54.3%	PE33.1x
ELAN Elanco Animal Health	US$22.82	15.3% +US$1.5b	73.1%	PS2.3x
PFE Pfizer	US$25.85	0.7% +US$1.1b	9.5%	PE19.7x
RPRX Royalty Pharma	US$53.86	2.8% +US$642.7m	64.8%	PE28.9x

Announcement • May 22

Phathom Pharmaceuticals Highlights Breadth Of Independent Vonoprazan Research At Digestive Disease Week 2026 Annual Meeting

Phathom Pharmaceuticals, Inc. highlighted the growing body of clinical and scientific research on vonoprazan, the active ingredient in VOQUEZNA (vonoprazan), at Digestive Disease Week (DDW) 2026, held May 2–5, 2026 in Chicago, Illinois. Phathom presented three posters at the meeting, including a Phathom-sponsored analysis from the Phase 3 pHalcon-NERD-301 study that was recognized by DDW as a Poster of Distinction, a designation reserved for abstracts of notable scientific merit. Vonoprazan was also the subject of 28 additional independent, investigator-initiated abstracts across gastroesophageal reflux disease (GERD), Helicobacter pylori (H. pylori) eradication, long-term safety, and post endoscopic procedural care, reflecting the growing scientific interest in vonoprazan and the potassium-competitive acid blocker (PCAB) class in GI medicine. Key data presented at DDW 2026 include: Meta-analysis of data from randomized controlled trials evaluating healing outcomes in patients with severe (LA Grade C and D) erosive esophagitis (Erosive GERD) treated with vonoprazan compared to the proton pump inhibitor (PPI) lansoprazole. Analyses from the Phase 3 pHalcon-NERD-301 study evaluating both heartburn and regurgitation symptoms in patients with Non-Erosive GERD (NERD) treated with vonoprazan versus placebo, as measured by the validated PAGI-SYM patient-reported outcome instrument. Real-world data evaluating vonoprazan in patients with PPI-refractory GERD following laparoscopic sleeve gastrectomy. Multiple independent meta-analyses evaluating H. pylori eradication rates with vonoprazan-based regimens, including a network meta-analysis of 77 randomized controlled trials comparing treatment strategies. Real-world propensity-matched cohort analyses evaluating safety outcomes associated with vonoprazan and traditional PPIs, including rates of vitamin B12 deficiency, hypomagnesemia, and Clostridioides difficile (C. diff) infection. Two independent systematic reviews and meta-analyses evaluating delayed post-procedural bleeding following endoscopic submucosal dissection (ESD) in patients treated with vonoprazan compared to PPIs. Post hoc analyses from the multicenter, prospective, real-world observational study evaluating vonoprazan in Chinese patients with reflux esophagitis across patient subpopulations including elderly patients and those with comorbid anxiety or depression. 28 independent abstracts reflect investigator-initiated research conducted by academic and clinical scientists across the United States, Europe, Asia, and South America. Independent Research on Vonoprazan: GERD: Potassium-Competitive Acid Blockers Versus Proton Pump Inhibitors in Patients with Grade C and D Erosive Esophagitis: A Meta-Analysis (He E et al.; Tu1173). Use Morning or/and Evening Dosing of Vonoprazan for Gastroesophageal Reflux Disease: An Interim Analysis for a Randomized Crossover Trial (Wang D et al.; Tu1163). Real-World Prescription Patterns of Potassium-Competitive Acid Blockers (PCABs) in Erosive Esophagitis: A New Era in Acid Suppression (Chalhoub M et al.; Tu1167). Effectiveness and Safety of Vonoprazan in Elderly Chinese Patients with Gastroesophageal Reflux Disease: A Post Hoc Analysis of the VIEW Study (Liang K et al.; Tu1165). Effectiveness of Vonoprazan on Symptom Relief in Gastroesophageal Reflux Disease Patients with Anxiety or Depression: A Post Hoc Analysis of the VIEW Study (Liang K et al.; Tu1168). Vonoprazan Improves GERD Symptoms and Heals Erosive Esophagitis in Patients with Gastric Sleeve Refractory to High Dose PPI (Cricco-Lizza E et al.; Presentation 972). Safety: Real World Evaluation of Adverse Events Associated with Vonoprazan Compared with Traditional Proton Pump Inhibitors (Al Momani Z et al.; Su1277). Long Term Safety of Vonoprazan Compared with Proton Pump Inhibitors: A Large Multi-Center Real World Propensity Matched Cohort (Alsafi W et al.; Tu1221). The Risk of Clostridioides Difficile Infection with Vonoprazan Compared to Proton Pump Inhibitors: A Large Multi-Center Cohort Study (Cohen E et al.; Sa1333). Potassium-Competitive Acid Blockers and Risk of Small Intestinal Bacterial Overgrowth and Nutrient Deficiencies: A Global Real-World Study (Luo A et al.; Su1273). Vonoprazan Does Not Increase the Incidence of Benign Gastric Polyps Compared with Proton Pump Inhibitors (Simadibrata D et al.; 1123). PCABs Are Associated with Low Rates of Short-Term Adverse Events: A Global Cohort Study Comparing PCABs Versus PPIs (Lee ME et al.; Poster 963). H. pylori Eradication: First-Line Empirical Eradication Therapy for H. pylori Infection: Experience from 1,500 Cases of the Brazilian H. pylori Registry (Friche Passos M et al.; Tu1224). Efficacy of Potassium-Competitive Acid Blocker (PCAB)-Based Therapies for H. pylori Infection: A Network Meta-Analysis of 77 Randomized Controlled Trials (Song Z et al.; Tu1223). Comparative Efficacy and Safety of Vonoprazan-Based Dual Therapy Versus Bismuth-Based Quadruple Therapy for H. pylori: A GRADE-Assessed Meta-Analysis with Trial Sequential Analysis (Navabi S et al.; Tu1222). Vonoprazan Based Therapy Outperforms Proton Pump Inhibitor Regimens for H. pylori Eradication: A Review of Six Meta-Analyses (Chakinala R et al.; Tu1219). Simplicity Without Compromise: An Updated Meta-Analysis of Vonoprazan-Amoxicillin Dual Therapy Versus Bismuth Quadruple Therapy for H. pylori Eradication (Zahid M et al.; Tu1205). Efficacy and Safety of Vonoprazan-Amoxicillin Dual Therapy Versus Bismuth Quadruple Therapy for H. pylori: A Systematic Review and Meta-Analysis (Haider A et al.; Tu1204). Comparative Efficacy and Safety of Vonoprazan Triple Therapy Versus PPI and Bismuth Based Quadruple Therapy for H. pylori: A Systematic Review and Meta-Analysis (Gundapaneni S et al.; Tu1200). Ten Versus Fourteen Days of Vonoprazan-Based Therapy for H. pylori: A Systematic Review and Meta-Analysis (Alsaleh T et al.; Tu1211). Efficacy and Safety of 14-Day Bismuth-Containing Quadruple Therapy with Low-Dose Vonoprazan Versus Esomeprazole for H. pylori Eradication: A Real-World Multicenter Study (Lin H et al.; Tu1213). Efficacy and Safety of Vonoprazan Dual Versus Quadruple Therapy for H. pylori Second-Line Treatment: A Real-World Study (Li P et al.; Tu1209). P-CAB/Minocycline/Furazolidone/Bismuth Quadruple Regimen for Refractory H. pylori Infection: A Multicenter Study (Li P et al.; Tu1199). Vonoprazan Plus High-Dose Amoxicillin Dual Therapy Versus PPI-Based Low-Dose Amoxicillin Quadruple Therapy for H. pylori: A Systematic Review and Meta-Analysis (Patel R et al.; Tu1220). Vonoprazan-Tetracycline Dual Therapy as a Simplified Rescue Regimen for Helicobacter Pylori: A Randomized Non-Inferiority Trial (Li J et al.; Poster 437).

U.S. Pharma Industry Analysis

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