For the second quarter of 2021, more than half of Big Pharma companies reported revenue growth of more than 15% compared to the same quarter in 2020. The companies that recorded the sharpest revenue growth were those that developed COVID-19 drugs. In fact, all six firms that surpassed the 20% sales growth mark achieved this through their vaccines or therapeutics against the coronavirus.
Regeneron ranked first, demonstrating 163% growth with sales of REGEN-COV antibody-based drug. The second rank went to Pfizer, which demonstrated 92% growth, the third rank went to AstraZeneca with 27% growth, and the fourth rank went to Johnson & Johnson, which increased sales by 23%.
Another class included Moderna, whose vaccine sales accounted for nearly all of its growth from $67 million in revenue in the second quarter of 2020 to $4.4 billion this year.
The only pharmaceutical company from Big Pharma that showed a drop in sales was Biogen. Experts believe that the reason for this is the drop in sales of the multiple sclerosis drug Tecfidera, which is losing its position due to competition with generics.
Experts consider the increase in the number of doctor visits and diagnostic procedures after the quarantine restrictions were lifted as growth factors for other pharmaceutical companies that did not participate in the pandemic race. However, they note that some therapeutic sectors recover more slowly than others. For example, the U.S. is still experiencing lower HIV screening rates and a 13% decline in diagnoses compared to pre-pandemic levels. At the same time, vaccination against various diseases, which almost came to a standstill during the quarantine, are recovering faster.
