Core Insights - The article highlights the performance of pharmaceutical companies in the 2025 Fortune Global 500 list, with Merck, Novo Nordisk, and Johnson & Johnson being notable entries, showcasing the strength of the pharmaceutical sector [2][3]. Pharmaceutical Sector Performance - The total revenue of the 500 companies in the 2025 Fortune Global 500 list is approximately $41.7 trillion, accounting for one-third of global GDP, with a year-on-year increase of 1.8%. The total net profit is $2.98 trillion, showing a slight increase of 0.4% [2]. - The entry threshold for the list is $32.2 billion, which has slightly increased compared to the previous year [2]. - Among the top 50 most profitable companies, three are pharmaceutical firms: Merck, Novo Nordisk, and Johnson & Johnson. Notably, Merck and Novo Nordisk are making their debut on the list, while Novartis has dropped out [2]. Financial Performance of Key Companies - Merck reported a net profit of $17.117 billion, with a remarkable growth rate of 45.9% [3]. - Novo Nordisk achieved a net profit of $14.644 billion, reflecting a growth of 20.6% [3]. - Johnson & Johnson's net profit stands at $14.066 billion, indicating stable growth [3]. - Merck's revenue is significantly driven by its PD-1 cancer drug, Keytruda, which accounts for nearly one-third of its total revenue [3]. - Novo Nordisk's sales surged to $29.3 billion, a 38% increase, primarily due to its semaglutide product line, including Ozempic, Wegovy, and Rybelsus [3]. Novo Nordisk's Market Position and Challenges - Novo Nordisk's revenue for the 2024 fiscal year is reported at 290.4 billion Danish Krone (approximately $42.1 billion), with a net profit of 100.9 billion Danish Krone (approximately $14.64 billion), well above the entry threshold of $32.2 billion [5]. - The company boasts a profit margin of approximately 36%, placing it among the leaders in the global pharmaceutical industry [5]. - In terms of revenue ranking, Novo Nordisk is positioned within the top ten globally, following giants like Johnson & Johnson, Roche, Pfizer, and Merck [6]. Product Performance and Market Dynamics - The semaglutide product line is identified as the primary growth driver for Novo Nordisk, with total sales reaching $29.3 billion, contributing to over 25% growth in overall revenue [7]. - In Q1 2025, semaglutide sales hit $7.864 billion globally, surpassing Merck's Keytruda sales of $7.2 billion, temporarily making it the "king of drugs" [7]. Market Pressures and Strategic Adjustments - Novo Nordisk has revised its 2025 performance forecasts downward, with sales growth expectations adjusted from 13%-21% to 8%-14%, and operating profit expectations reduced from 16%-24% to 10%-16% [9]. - The downward revision is attributed to a slowdown in the U.S. market, increased competition from Eli Lilly's Mounjaro and Zepbound, and the widespread circulation of compounded GLP-1 drugs [9]. - Despite a 18% quarterly sales growth reported in Q2, the market reaction has been weak [10]. Leadership Changes and Strategic Focus - The company experienced a significant stock price drop of 21.8%-23% on July 29, resulting in a market value loss of over €6 billion, marking its largest single-day decline in history [11]. - In May, Novo Nordisk dismissed CEO Lars Fruergaard Jørgensen, appointing Maziar Mike Doustdar as the new CEO effective August 7, focusing on enhancing commercial execution and cost efficiency in the U.S. market [12]. - The company is also taking legal action against the proliferation of compounded drugs and is accelerating the establishment of official self-operated channels, such as NovoCare services, to address market chaos and improve the penetration of legitimate prescription channels [13]. Future Outlook - Novo Nordisk's strong performance in 2024, driven by its semaglutide product line, has positioned it among the most profitable pharmaceutical companies globally [14]. - However, the company faces significant challenges in the short term due to rising competition, declining market expectations, and regulatory issues related to compounded drugs [14]. - The new CEO Doustdar will need to navigate the pressures of reshaping the U.S. market while aiming to restore confidence through optimized execution and strengthened legitimate channels [14]. - If Novo Nordisk can successfully expand production capacity, control the circulation of counterfeit drugs, and maintain innovation in research and development, it is likely to solidify its leading position in the global pharmaceutical industry [15].

Core Insights - The total revenue of the 2025 Fortune Global 500 companies reached approximately $41.7 trillion, accounting for over one-third of the global GDP, with a year-on-year growth of about 1.8% [1] - The net profit of these companies increased by approximately 0.4% year-on-year, totaling around $2.98 trillion, marking the highest asset and net asset totals since the inception of the Fortune Global 500 list [1] Group 1: Top Companies - Walmart has maintained its position as the largest company globally for the twelfth consecutive year, followed by Amazon, State Grid Corporation of China, Saudi Aramco, and China National Petroleum [3] - Walmart's first-quarter revenue for the period ending April 30, 2025, was $165.6 billion, a 2.5% increase from $161.5 billion in the same period last year, with a net sales figure of $164 billion [4] Group 2: Energy Sector - State Grid Corporation of China ranked third in the Fortune Global 500 for the second consecutive year, recognized for its leading technology in ultra-high voltage transmission and smart grid systems [6] - China Petroleum and Chemical Corporation ranked sixth, while Shandong Gold Group was the only new Chinese company to make the list, ranking 465th, benefiting from a significant increase in gold prices [6] Group 3: Pharmaceutical Companies - Among the 50 most profitable companies, three are pharmaceutical firms: Merck, Novo Nordisk, and Johnson & Johnson, with Merck's profit increasing significantly by 45.9 times due to the sales of its PD-1 product, Keytruda [8][9] - Novo Nordisk's profit grew by 20.6%, driven by the sales of its GLP-1 receptor agonist products, which reached $29.3 billion in 2024, a 38% increase [9][10] - The total number of pharmaceutical companies in the 2025 list increased to 15, with Amgen being the new entrant, while Guangzhou Pharmaceutical Group was the only Chinese pharmaceutical company included [11]

Group 1: Global Rankings and Financial Performance - The total revenue of the world's top 500 companies reached approximately $41.7 trillion, accounting for over one-third of global GDP, with a year-on-year growth of about 1.8% [1] - The net profit of all listed companies increased by approximately 0.4% to around $2.98 trillion, with both total assets and net assets reaching the highest levels since the inception of the Fortune Global 500 list [1] Group 2: Leading Companies - Walmart has maintained its position as the largest company globally for the twelfth consecutive year, followed by Amazon, State Grid Corporation of China, Saudi Aramco, and China National Petroleum [3][4] - Walmart's first-quarter revenue for the fiscal year ending April 30, 2025, was $165.6 billion, a 2.5% increase from the previous year, with net sales of $164 billion and a quarterly operating profit of $7.135 billion, up 4.3% year-on-year [4] Group 3: Energy Sector Highlights - State Grid Corporation of China ranked third in the Fortune Global 500 for the second consecutive year, recognized for its leading technology in ultra-high voltage transmission and smart grid systems [5] - China Petroleum and Chemical Corporation ranked sixth, while Shandong Gold Group was the only new Chinese company to make the list, ranking 465th, benefiting from its gold resource reserves and cost control capabilities [6] Group 4: Pharmaceutical Industry Insights - Among the 50 most profitable companies, three are pharmaceutical firms: Merck, Novo Nordisk, and Johnson & Johnson, with significant changes in the list compared to the previous year [7] - Merck's profit for 2024 was $17.117 billion, driven by the sales of its PD-1 product Keytruda, which achieved $29.482 billion in sales, accounting for 46% of the company's total revenue [8] - Novo Nordisk's profit reached $14.644 billion, with a 38% increase in sales of its GLP-1 receptor agonist products, totaling $29.3 billion [8] Group 5: Chinese Pharmaceutical Company Performance - Guangzhou Pharmaceutical Group is the only Chinese company in the pharmaceutical sector to enter the Fortune Global 500, achieving $35.164 billion in revenue for 2024, a 3.2% decline, with profits of $317 million, down 2.3% [10]