fastest growing pharma companies

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By now, it should come as no surprise that developers of COVID-19 vaccines had healthy profits in 2021. Nevertheless, it remains difficult to fathom that BioNTech (Nasdaq:BNTX) saw annual revenue growth of 3,834.4% last year. Unsurprisingly, BioNTech topped the list of fastest growing pharma companies of the year. The company, which jointly developed one of the most popular COVID-19 vaccines with Pfizer (NYSE:PFE), had a five-year compound annual growth rate (CAGR) of 319%. In 2021, Moderna had annual revenue growth 2,199.1% last year, thanks to its role developing a popular COVID-19 vaccines.

Outside of vaccines, COVID-19 products such as anti-SARS-CoV-2 monoclonal antibodies also played a role in making Regeneron one of the fastest growing pharma companies. The company had 89.1% revenue growth last year compared to Pfizer’s 2021 growth rate of 95.2%.

The market for COVID-19–related products, however, is likely cooling. The analyst firm GlobalData, for instance, projects that sales of Pfizer’s COVID-19 antiviral Paxlovid will significantly decrease in the coming years. The firm anticipates Paxlovid to reach peak sales of $30.7 billion in 2022.

Demand for COVID-19 vaccines is also may be plateauing. The U.S. has signaled its intent to recommend annual COVID-19 boosters. Meanwhile, booster fatigue remains a concern throughout much of the world.

Since last year, demand for the COVID-19 vaccines from AstraZeneca and J&J has fallen dramatically.

Rank Company Revenue growth YoY Revenue CAGR 5-Years
2021 revenue in billions
1 BioNTech 3,834.4% 319.0% $22.40
2 Moderna 2,199.1% 207.8% $18.50
3 Pfizer 95.2% 11.5% $81.30
4 Regeneron 89.1% 28.6% $16.10
5 AstraZeneca 40.6% 13.6% $37.40
6 AbbVie 22.7% 18.8% $56.20
7 Merck 17.3% 5.0% $48.70
8 Lilly 15.4% 9.1% $28.30
9 J&J 13.6% 5.2% $93.80
10 Merck 12.3% 7.9% $23.30