Pharma’s Top 20 Performers 

Welcome to Contract Pharma’s annual ranking of the Top 20 Pharma and Biopharma Companies, based on fiscal year 2024 prescription pharmaceutical revenues. This report remains one of our most widely read and referenced features, providing a clear picture of the industry’s biggest players and the forces shaping their evolution.

This year’s report comes at a critical inflection point. The post-pandemic market recalibration, the continued emergence of GLP-1 dominance, and a surge in approvals of biologics and cell and gene therapies have all contributed to reshaping pipelines, partnerships, and outsourcing strategies. The top 20 list itself saw no newcomers, but many familiar names posted outsized gains—and a few faced stark financial and strategic headwinds.

Pfizer reclaimed the top spot in pharma-only sales, topping $63.6 billion, buoyed by growth in its non-COVID portfolio and several approvals. But it wasn’t the only one enjoying momentum. Lilly, one of the year’s biggest risers, reported a 32% revenue jump on the back of its diabetes and obesity franchises, cracking the top 10 with over $45 billion. Novo Nordisk, another GLP-1 powerhouse, climbed swiftly as well, with pharma sales up 25% to over $40 billion.

Despite revenue growth, several companies faced sharp declines in net income—Roche, GSK, Amgen, and Takeda among them—due to cost pressures, patent cliffs, or major R&D invest-ments. At the same time, companies like Merck, Novartis, and Johnson & Johnson posted solid financial gains while continuing to prioritize pipeline expansion and external collaborations.

What continues to define this year’s landscape is the shift from traditional blockbuster small molecules to diversified biologic portfolios—and with that shift, increased reliance on outsourcing. Across the top 20, Contract Pharma observed a heightened emphasis on contract manufacturing partnerships, expanded use of CDMOs for clinical and commercial scale-up, and broader R&D collaboration models.

The report also captures several noteworthy trends. First, it was a banner year for drug approvals, especially in oncology, metabolic disease, and rare indications. There was accelerated investment in U.S.-based manufacturing facilities—in part driven by geopolitical pressures and reshoring strategies. Restructuring efforts were also clear, particularly at BMS, Teva, and Viatris, as companies reposition pipelines and reduce operational redundancies. Lastly, bold R&D spending increases by firms like AbbVie (+67%) and Novo Nordisk (+48%), signaling long-term confidence in innovation as a growth driver.

Each company profile in this report summarizes 2024’s key developments—including approved and filed drugs, late-stage pipeline assets, and top-selling therapies with year-over-year per-formance. The writeups also break down financial highlights, restructuring news, facility investments, and outsourcing activity where applicable.

We hope this year’s edition offers both a valuable snapshot and an insightful roadmap for Contract Pharma readers working across the global outsourcing ecosystem. Whether you’re bench-marking potential partners, tracking therapeutic trends, or mapping out future business strategy, we aim to support your journey with clear, timely, and actionable industry intelligence.

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Tim Wright, Editor

twright@rodmanmedia.com