Top 50 Pharmaceutical Companies 2010, Pharma Exec Report
1. 40 PHARMACEUTICAL EXECUTIVE
PHARMACEUTICAL EXECUTIVE
12 TH ANNUAL PHARM EXEC 50
between two
Lull
The
STORMS
Will the recent wave of megamergers and a slow revival of biotech
financing be enough to counter a looming storm surge of patent
expirations? US health reform is the next big game-changer,
as companies seek a balance between earning profits and placating
a restive new breed of payers and the ever-expectant patient
By Jerry Cacciotti and Patrick Clinton
Sponsored by
www.dsm.com
2. MAY 2011 www.pharmexec.com 41
Revenue Distribution of Top 50
10%
Top 10 accounts for $352.5 billion in sales,
8% which is 59.40% of total revenues of the Top 50
6% Top 20 accounts for $483.8 billion in sales,
which is 81.53% of total revenues of the Top 50
4%
* Figures are rounded
2%
0%
Pfizer Merck
Novartis Roche
Sanofi-Aventis
GlaxoSmithKline Lilly Teva Bayer
JohnsonBristol-MyersAmgen NovoIngelheim Baxter International Menarini Forest UCBCelgene Warner Chilcott Hakko Kirin Nycomed
AstraZeneca
& Johnson Squibb
Eli Abbott Boehringer Daiichi Merck KGaAMylanChugai Genzyme CSL Otsuka Shire Cephalon
Takeda AstellasEisai Sciences
Nordisk Gilead
Sankyo Servier
Mitsubishi Tanabe
Allergan Biogen Idec
Alcon Watson
Kyowa
LundbeckShionogi
Dainippon Sumitomo Apotex
Actavis
Hospira Stada
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he Pharm Exec 50 ranks the tion drugs—as Pfi zer, fueled by its ac- mal). But the biggest single-year bump
world’s largest pharmaceutical quisition of Wyeth, grew from $45.4 came at a much smaller company: The
companies by global sales of pre- billion in Rx sales to $58.5 billion. Irish fi rm Warner Chilcott last year ac-
scription drugs—a key indicator of Meanwhile, consolidation in the ranks quired the pharmaceutical business of
market change. After last year’s storm continues to place a premium on size Procter & Gamble, including the bil-
of activity, the 50 set a more placid and scale: This was the fi rst year that it lion-dollar drug Actonel, and raised its
pace, as major players worked on inte- took $2 billion in Rx revenues to join Rx revenues a whopping 111 percent to
grating blockbuster mergers and licked the 50. As recently as 10 years ago, you $2.9 billion.
their wounds after the latest round of could make the list with revenues of Looming over the year—and the
Phase III failures. Late-phase problems only $500 million. decade—is the shadow of US health-
are nothing new, and drug candidates Overall, the 50 accounted for care reform. Many in pharma feel they
can come back from them, but there $593.4 billion in human prescription have dodged the bullet of new regula-
was something particularly heartbreak- drug sales in 2010. That represents an tion and stand to gain as a projected
ing about the recent crop of dead ends, increase of nearly 8 percent from 2009, 30 million previously uninsured Amer-
given the huge unmet medical need as- when the total was $550.5 billion. But icans fi nally obtain insurance coverage
sociated with these therapies: Pfizer’s among the top 10, there was slightly for healthcare. But the Patient Protec-
Dimebon and Lilly’s Semagacestat for better growth. This year’s group grew tion and Affordable Care Act is not the
Alzheimer’s, Merck’s vicriviroc for HIV, its Rx revenues from $319.4 billion in end of the discussion—it’s more like
and Roche’s ocrelizumab for rheuma- fiscal 2009 to $352.5 last year—an in- the beginning of an avalanche. The
toid arthritis, to name just a few. crease of over 10 percent. economic forces it sets in motion today
Change was most visible on the A good percentage of that growth will be playing out for payers, patients,
macro level. The list of the top 10 com- was fueled by mergers and acquisi- providers, and pharma for the foresee-
panies was shaken up a bit, with No- tions. In addition to Pfi zer and its 29 able future, changing the way care is
vartis passing Sanofi-Aventis to move percent increase, big gainers included delivered and paid for, creating numer-
into second place, and Merck jumping Merck (58 percent growth after its ous business threats, but, with luck,
from seventh to fourth. It was also the merger with Schering Plough) and Ab- ending up with the possibility of get-
fi rst year the top company crossed the bott (up nearly 28 percent in the wake ting a better alignment between help-
$50 billion mark in sales of prescrip- of its acquisitions of Solvay and Pira- ing the patient and earning a profit.
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3. 42 PHARMACEUTICAL EXECUTIVE
2011 Company 2010 Rx Sales (USD 2010 R&D spend 2010 Top-Selling Drugs
Rank HQ [website] billions) [% change from 2009] (USD millions) [USD billions]
Lipitor [10.7]
Pfizer
1 New York, New York [pfizer.com]
$58.5 [28.9%] $9,413 Enbrel [3.3]
Lyrica [3.1]
Diovan/Co-Diovan [6.1]
Novartis
2 Basel, Switzerland [novartis.com]
$42.0 [9.2%] $7,100 Gleevec/Glivec [4.3]
Lucentis [1.5]
Lantus [4.7]
Sanofi-Aventis
3 Paris, France [sanofi-aventis.com]
$40.3 [–4.1%] $5,147 Lovenox [3.7]
Taxotere [2.8]
Merck Singulair [5.0]
4 Whitehouse Station, New Jersey
[merck.com]
$39.8 [58.0%] $11,000 Remicade [2.7]
Januvia [2.4]
Avastin [6.8]
Roche
5 Basel, Switzerland [roche.com]
$39.1 [4.1%] $8,612 MabThera/Rituxan [6.7]
Herceptin [5.7]
Seretide/Advair [7.9]
GlaxoSmithKline
6 Brentford, England [gsk.com]
$36.2 [–4.2%] $6,126 Pandemic Flu Vaccine [1.8]
Flixotide/Flovent [1.2]
Crestor [5.7]
AstraZeneca
7 London, England [astrazeneca.com]
$33.3 [1.4%] $4,200 Nexium [5.0]
Seroquel [4.1]
Remicade [4.6]
Johnson & Johnson
8 New Brunswick, New Jersey [jnj.com]
$22.4 [–0.4%] $4,432 Procrit [1.9]
Risperdal [1.5]
Zyprexa [5.0]
Eli Lilly
9 Indianapolis, Indiana [lilly.com]
$21.1 [5.4%] $4,880 Cymbalta [3.5]
Alimta [2.2]
Humira [6.5]
Abbott
10 Abbott Park, Illinois [abbott.com]
$19.9 [27.7%] $3,724 Trilipix/TriCor [1.6]
Kaletra [1.3]
Sources: corporate data (10K’s, annual reports, etc.) and Pharm Exec estimates N/A = Not Available/Not Applicable * Estimate Figures are rounded
How the listings were compiled: Companies in the Pharm Exec 50 are ranked according to global human prescription drug sales. As far as company documentation allows, generics
and vaccines are included; over-the-counter products, royalties, and contract manufacturing revenue are not. In most cases, numbers are taken from annual reports or SEC filings for the
fiscal year that ended in 2010. For most American and European companies, that means the year ending Dec. 31, 2010; for many Japanese companies, it means the year ending March
31, 2010. In the case of private companies that do not report results, we have made estimates based on available data, including IMS reports. For companies that report in currencies
other than US dollars, we have converted their numbers using the midpoint average interbank rate for the last day of the fiscal year. Some charts that accompany this article are based on
numbers from IMS Health. These are based on a different methodology and will not be consistent with the figures we have compiled from financial filings. Percentage growth figures should
be treated with caution, because they can be affected by fluctuating exchange rates.
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4. 44 PHARMACEUTICAL EXECUTIVE
Global Pharma Sales by Region
Market Share Region USD in Billions Growth from 2009
Source: IMS Health, MIDAS
North America 334.8 3.2%
29.2% Europe 230.7 1.8%
Asia/Africa/Australia 98.1 13.3%
Japan 85.7 0.4%
12.4%
Latin America 42.0 16.3%
42.3%
10.8% Worldwide Totals: $791.4 4.2%
5.3% Sales represent audited market for pharma products only (Dec. 2009–Dec 2010)
IMS figures do not account for off-invoice discounts/rebates and can vary from reported mfr sales
Top 25 US Pharma Products by Sales
Product 2010 2009 % Change
1 Lipitor 7.2 7.6 -5.26
2 Nexium 6.3 6.3 FLAT
3 Plavix 6.1 5.6 8.92
4 Advair Diskus 4.7 4.7 FLAT
5 Abilify 4.6 4.0 15.00
6 Seroquel 4.4 4.2 4.76
7 Singulair 4.1 3.7 10.81
8 Crestor 3.8 3.0 26.66
9 Actos 3.5 3.4 2.94
10 Epogen 3.3 3.2 3.13
11 Remicade 3.3 3.2 3.13
12 Enbrel 3.3 3.3 FLAT
13 Cymbalta 3.2 2.8 14.29
14 Avastin 3.1 3.0 3.33
15 Oxycontin 3.1 2.9 6.90
16 Neulasta 3.0 3.0 FLAT
17 Zyprexa 3.0 2.7 11.11
18 Humira 2.9 2.5 16.00
19 Lexapro 2.8 2.8 FLAT
20 Rituxan 2.8 2.6 7.69
Source: IMS Health
21 Aricept 2.5 2.3 8.7
22 Lovenox 2.3 2.8 -17.86
23 Atripla 2.2 1.9 15.79
24 Copaxone 2.2 1.7 29.41
25 Spiriva Handihaler 2.0 1.7 17.65
TOTAL US SCRIP MARKET: 2010: $307.4 2009: $300.3 2.36%
Figures (rounded) in US billions
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5. 46 PHARMACEUTICAL EXECUTIVE
2011 Company 2010 Rx Sales (USD 2010 RD spend 2010 Top-Selling Drugs
Rank HQ [website] billions) [% change from 2009] (USD Millions) [USD billions]
Bristol-Myers Squibb
11 New York [bms.com]
$19.5 [3.6%] $3,566 Plavix [6.7]
Teva
12 Petach Tikva, Israel [tevapharm.com]
$16.1 [16.0%] $933 Copaxone [2.9]
Amgen
13 Thousand Oaks, California [amgen.com]
$14.7 [1.8%] $2,894 Neulasta/Neupogen [4.8]
Bayer
14 Leverkusen, Germany [bayer.com]
$14.5 [–3.6%] $2,320 Betaferon/Betaseron [1.6]
Takeda
15 Osaka, Japan [takeda.com]
$14.2 [–0.1%] $3,198 Actos/Glustin [4.2]
Boehringer Ingelheim
16 Ingelheim, Germany
[boehringer-ingelheim.com]
$12.9 [–10.8%] $3,056 Spiriva [3.8]
Novo Nordisk
17 Bagsvaerd, Norway [novonordisk.com]
$10.8 [9.9%] $1,709 NovoRapid [2.1]
Astellas
18 Tokyo, Japan [astellas.com]
$10.5 [6.0%] $2,109 Prograf [1.9]
Daiichi Sankyo
19 Tokyo, Japan [daiichisankyo.com]
$9.8 [20.0%] $2,124 Olmesartan [2.6]
Eisai
20 Tokyo, Japan [eisai.com]
$8.4 [8.0%] $1,932 Aricept [3.5]
Sources: corporate data (10K’s, annual reports, etc.) and Pharm Exec estimates N/A = Not Available/Not Applicable * Estimate Figures are rounded
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6. 48 PHARMACEUTICAL EXECUTIVE
Top 20 Therapeutic Classes by Spending
Product 2010 2009 % Change
1 Oncologics 22.3 21.5 3.72
2 Respiratory Agents 19.3 18.1 6.63
3 Lipid Regulators 18.8 18.6 1.08
4 Antidiabetes 16.9 15 12.66
5 Antipsychotics 16.1 14.7 9.52
6 Antiulcerants 11.9 14.1 -15.60
7 Antidepressants 11.6 11.5 0.87
8 Autoimmune Diseases 10.6 9.7 9.28
9 HIV Antivirals 9.2 8.2 12.19
10 Angiotensin II 8.7 8.6 1.16
11 Narcotic Analgesics 8.4 8.0 5.00
12 ADHD 7.2 6.3 14.28
13 Platelet Aggregation Inhibitors 7.1 6.5 9.23
14 Erythropoietins 6.1 6.3 -3.17
15 Multiple Sclerosis 5.7 4.9 16.33
16 Antiepileptics 5.6 6.9 -18.84
Source: IMS Health
17 Vaccines (Pure, Combo, Other) 5.0 4.6 8.69
18 Hormonal Contraceptives 4.8 4.7 2.13
19 Anti-Alzheimers 4.5 4.0 12.5
20 Immunostimulating Agents 4.2 4.1 2.44
TOTAL US SCRIP MARKET: 2010: $307.4 2009: $300.3 2.36%
Figures (rounded) in USD billions
Therapy Class defined using ATC-defined product groups and synthesized based on proprietary IMS Health definitons
Immunostimulating Agents excludes interferons
Top 20 Therapeutic Classes by Prescriptions
Class 2010 2009 % Change
1 Lipid Regulators 255.4 249.7 2.28
2 Antidepressants 253.6 246.1 3.05
3 Narcotic Analgesics 244.3 241.0 1.37
4 Beta Blockers (Plain Combo) 191.5 167.8 14.12
5 Ace Inhibitors 168.7 165.7 1.81
6 Antidiabetes 165.0 159.0 3.77
7 Respiratory Agents 153.3 152.4 0.59
8 Anti-ulcerants 147.1 145.7 0.96
9 Diuretics 131.0 131.7 -0.53
10 Antiepileptics 121.7 115.3 5.55
11 Tranquilizers 108.6 104.0 4.42
12 Thyroid Preps 107.2 105.3 1.8
13 Calcium Antagonists (Plain Combo) 97.9 94.9 3.16
14 Antirheumatics 95.0 92.5 2.70
15 Hormonal Contraceptives 92.3 93.9 -1.70
16 Angiotensin II 83.7 84.4 -0.83
Source: IMS Health
17 Penicillins 76.1 76.6 -0.65
18 Macrolides Similar Type 73.9 69.3 6.64
19 Vitamins Minerals 71.9 69.8 3.01
20 Hypnotics Sedatives 66.0 65.5 0.76
TOTAL US SCRIP MARKET: 2010: 3,995.2 2009: 3,949.2 1.16%
Rx figures (rounded) in millions;
Therapy classes defined using ATC defined product groups and synthesized based on proprietary IMS Health definitions
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11. 56 PHARMACEUTICAL EXECUTIVE
2011 Company 2010 Rx Sales (USD 2010 RD spend 2010 Top-Selling Drugs
Rank HQ [website] billions) [% change from 2009] (USD Millions) [USD billions]
Watson
41 Corona, California [watson.com]
$2.6 [27.0%] $296 CNS generics [0.9]
Lundbeck
42 Copenhagen, Denmark [lundbeck.com]
$2.6 [–0.6%] $542 Cipralex/Lexapro [1.5]
Kyowa Hakko Kirin
43 Tokyo, Japan [kyowa-kirin.co.jp]
$2.6 [14.7%] $429 Nesp/Espo [0.6*]
Dainippon Sumitomo
44 Osaka, Japan [ds-pharma.co.jp]
$2.6 [20.1%] $554 Amlodin [0.6]
Shionogi
45 Osaka, Japan [shionogi.co.jp]
$2.4* [35.2%] $135 Crestor [0.3]
Actavis
46 Hafnarfjörður, Iceland [actavis.com]
$2.4* [32.5%] N/A Oxycodone [0.4]
Hospira
47 Lake Forest, Illinois [hospira.com]
$2.3 [13.3%] $301 N/A [N/A]
Nycomed
48 Zurich, Switzerland [nycomed.com]
$2.2 [–20.2%] $281 Pantoprazole [1.2]
Apotex
49 North York, Ontario, Canada [apotex.com]
$2.1* [–19.2%] N/A N/A [N/A]
Stada
50 Bad Vilbel, Germany [stada.de]
$2.1 [–5.0%] $73 Generic omeprazole [0.1]
Sources: corporate data (10K’s, annual reports, etc.) and Pharm Exec estimates N/A = Not Available/Not Applicable * Estimate Figures are rounded
TOTALS: 2010: $593.4 billion 2009: $550.5 billion 7.79%
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12. 58 PHARMACEUTICAL EXECUTIVE
The Top 10 Year In Review
1. Pfizer President and CEO 4. Merck Elected Kenneth Frazier CEO. EU. Kombiglyze XR, the only once-daily
Jeff Kindler retired, succeeded by Ian C. Bought Inspire for $430 million. Rotateq dose of DPP4/metformin, developed with
Read. George Lorch elected Non-Execu- vaccine awarded top honor at Prix Galien Bristol-Myers Squibb, also approved in
tive Chairman of the Board. Sutent ap- USA 2010. Merck BioVentures entered into US. Nine molecules in Phase III trials or
proved in EU for treatment of pancreatic an alliance with Parexel for biosimilar devel- submitted for regulatory approval, with
neuro-endocrine tumors. Launched opment. Signed commercialization agree- another 92 projects in development. Com-
Prevnar 13, a vaccine against 13 strains ment with Lundbeck for Sycrest and a letter pleted deal with Rigel for development of
of pneumococcal diseases in infants of mutual intent with China’s Sinopharm. fostamatinib (rheumatoid arthritis).
and young children. Also has 118 Pipeline has more than 20 late-stage can-
products in the RD pipeline and had didates. Licensed oral mTOR inhibitor for
1,300 clinical trials in 2010. multiple cancers from Ariad. Oral hepatitis 8. Johnson Johnson Completed
C protease inhibitor Boceprevir granted tender offer for Crucell N.V. in February
Priority Review status by FDA. 2011; acquired 98.93 percent of shares.
2. Novartis Completed purchase Products under regulatory review include:
of Alcon from Nestlé for $38.7 billion. Rivaroxoban for stroke prevention in pa-
Jonathan Symonds promoted to CFO. 5. Roche Rituxan approved in US as tients with atrial fibrillation (US), Telaprevir
David Epstein replaced CEO Joe Jimenez first-line treatment for chronic lymphocytic for hepatitis C (US and EU), Abiraterone
as Division Head, Pharmaceuticals. leukemia (CLL) and relapsed/refractory acetate for metastatic advanced prostate
Thirteen major pharmaceutical approvals CLL. Tarceva approved in US and EU (US and EU), and rilpivirine for HIV. Eight
in the US, Europe, and Japan, with 147 for first-line treatment of non-small-cell more candidates planned for regulatory
products in development. Tasigna was ap- lung cancer after chemotherapy. FDA submission from 2011 to 2013.
proved in the US, the EU, Japan, and Swit- rejected use of Avastin as a treatment
zerland for patients with newly diagnosed for metastatic breast cancer; Roche
Philadelphia chromosome-positive chronic has requested a hearing to appeal this 9. Eli Lilly Completed acquisition of
myeloid leukemia (Ph+ CML), a form of decision. Daniel O’Day appointed COO of Alnara and Avid Radiopharmaceuticals.
blood cancer. Menveo (vaccine against the Pharmaceuticals division. Alan Hippe Launched statin Livalo in the US with part-
meningococcal disease) launched in the named CFO. Jean-Jacques Garaud ner Kowa. Has 68 molecules in develop-
US, EU, and parts of Latin America and appointed Head of Roche Pharma ment. Several monoclonal antibodies for
Asia. Sandoz launched generic enoxaparin, Research and Early Development. cancer in late-stage development. Phase
its most successful launch to date, and III candidates include Necitumumab
acquired Oriel Therapeutics. for non-small-cell lung cancer and Ramu-
6. GlaxoSmithKline Benlysta cirumab for metastatic breast and gastric
(belimumab, the first new lupus treatment cancers. Signed commercialization deal
3. Sanofi-Aventis Initiated in 60 years) approved by FDA in March. Six with Acrux for newly approved experimen-
acquisition of Genzyme for $16.6 billion products in total approved by US and EU; tal testosterone solution Axiron.
(completed in April) and finished seven more filed with regulators. Malaria
acquisition of OTC company Chattem. vaccine in Phase III trials in Africa, with
Began collaboration programs with 30 other late-stage assets. Julian Heslop 10. Abbott The year was marked by
Harvard and Columbia Universities retired as CFO, succeeded by Simon acquisitions, including the pharmaceuti-
and a research alliance with Scripps Dingemans. Patents for active ingredients cal business of Solvay for $6.1 billion
Genomic Medicine. Jevtana approved in Seretide/Advair expired. plus milestones, and Piramal Healthcare’s
in US for second-line treatment of Healthcare Solutions business, a leader
metastatic hormone-refractory in the Indian branded generics market, for
prostate cancer. 7. AstraZeneca Crestor substance $2.2 billion in cash, plus $1.6 billion in
patent upheld in US court. Approvals annual payments through 2014. Additional
include Vimovo (naproxen/esomeprazole acquisitions included Advanced Medical Op-
magnesium) in US and EU and Brilique tics, STARLIMS Technologies (informatics),
(atherothrombotic event prevention) in and the remaining shares of Facet Biotech.
About the Authors
Jerry Cacciotti is a Partner in Oliver Wyman’s Health and Life Sciences Patrick Clinton is Marketing Director in the Health Life Sciences practice
Practice. He can be reached at Jerry.Cacciotti@oliverwyman.com of Oliver Wyman. He can be reached at Patrick.Clinton@oliverwyman.com
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