World's Top 10 Pharma Companies Raked In More Than $700-B Revenue In 2021

The pharmaceutical industry had a big year in 2021. The 10 largest pharma companies by revenue spanned five countries and brought in a collective $734.8 billion in revenue and $130.6 billion in profits, according to the 2022 Fortune Global 500 released earlier this month, Paige McGlauflin reported.

Photo Insert: The COVID-19 pandemic provided a tremendous opportunity for some drug companies to expand their operations as they got involved with the manufacture and distribution of vaccines.

The pharmaceutical companies represented on the Global 500, which ranks the world’s largest companies by revenue, generated 98.2% profit growth on average from the previous year.

The COVID-19 pandemic provided a tremendous opportunity for some drug companies to expand their operations as they got involved with the manufacture and distribution of vaccines.

More than 12.2 billion doses have been administered globally as of July 17, and 68.8% of the world’s population is at least partially vaccinated against COVID-19.

For Pfizer, which ranks fourth out of all global pharmaceutical companies by revenue, COVID-19 vaccine production made up nearly half its annual revenue, accounting for $36.8 billion total. Revenues for all vaccines are expected to reach $47 billion by 2025, according to Deloitte.

China Resources was the top pharmaceutical company by revenue, appearing at No. 70 on this year’s Global 500. The company brought in $119.6 billion in revenue and $4.5 billion in profits. Distribution accounted for 81.9% of its total revenue, and manufacturing accounted for 14.9%.

In April 2022, China Resources entered an agreement with pharmaceutical company Everest Medicines to establish a separate company dedicated to producing mRNA vaccines. It expects to deliver as many as 800 million doses annually of its PTX-COVID19-B vaccine, currently in development.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic