解读全球制药企业50强榜单：中国创新药企距离“Big Pharma”还有多远

Core Insights - The 2025 Global Pharmaceutical Companies Top 50 list has been released, with Johnson & Johnson's Innovative Medicines leading with $55.7 billion in sales, followed by AbbVie and Merck [1][2] - Novo Nordisk enters the top ten for the first time due to its GLP-1 drug semaglutide, while Merck rises from fourth to third place, driven by the strong performance of its drug Keytruda [1][3] - Six Chinese companies made the list, marking a significant increase, with BeiGene and Huadong Medicine making their debut [1][5] Group 1: Rankings and Sales Performance - The list is based on prescription drug sales, core product revenue, and R&D investment, reflecting significant changes in the pharmaceutical industry [2] - Merck's Keytruda has received FDA approval for 40 indications and is projected to generate $29.482 billion in sales in 2024, accounting for approximately 54.28% of Merck's prescription drug revenue [3] - Novartis dropped from third to seventh place, with a prescription drug sales forecast of $50.191 billion for 2024, facing challenges due to patent expirations [4] Group 2: Chinese Pharmaceutical Companies - Six Chinese companies ranked in the top 50, the highest number in five years, although all ranked below 30 due to smaller market sizes [5][6] - Chinese innovation in pharmaceuticals is gaining recognition, with significant presentations at major conferences like AACR and ASCO [5] - The future outlook for Chinese companies in the global pharmaceutical landscape appears promising, with expectations of increased rankings and numbers by 2030 [5] Group 3: Market Trends and Projections - The GLP-1 class of drugs is expected to dominate prescription drug sales, with projections indicating that Eli Lilly will become the top-selling pharmaceutical company by 2030 [4] - The ADC (antibody-drug conjugate) market is expanding, with significant transactions and research presentations from Chinese companies at international conferences [6] - The overall sentiment in the industry is improving, with a focus on the value of Chinese innovative drugs despite previous financing challenges [6]