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The US has many pharmaceutical companies that are thriving, despite the fact that the country has begun to heavily import pharmaceuticals and biotechnology products from APAC countries. In fact, the United States alone accounts for almost half of the global pharmaceutical market. In 2016, pharmaceutical companies in the US generated more than USD 440 billion total in revenue, and six out of the top 10 global pharmaceutical companies were based in the US. The industry is poised for significant growth over the next four years, especially as a result of increasing demand for generic drugs and treatment for lifestyle-related diseases. The industry can expect to see more acquisitions and mergers between pharmaceutical companies as competition heats up. Here is BizVibe’s list of the top 10 pharmaceutical companies in the United States:
1. Johnson & Johnson: Founded in 1886, Johnson & Johnson has grown into one of the largest pharmaceutical companies in the world. The company offers a wide range of pharmaceuticals, including immunology products, infection disease treatment products, oncology products, and central nervous system products. The company also manufacturers medical devices and consumer packaged goods. In 2016, the company generated revenue of USD 71.89 billion and employed more than 127,000 people.
2. Merck & Co.: Merck’s product offerings include drugs and therapies for autoimmune disorders, hypercholesterolemia, type 2 diabetes, cancer, and other diseases and medical conditions. The company also publishes The Merck Manuals, a series of medical reference books for healthcare practitioners. Merck is one of the biggest pharmaceutical companies in the world. In 2016, the company generated revenue of USD 39.49 billion, and employed more than 70,000 people.
3. Pfizer: Headquartered in New York City, New York, Pfizer manufactures and develops vaccines and medications for a variety of medical applications, including immunology, cardiology, endocrinology, and neurology. It was originally founded as a fine chemicals manufacturer in 1849, and has become one of the most profitable pharmaceutical companies in the US and in the world. In 2016, the company generated revenue of USD 52.82 billion, and employed roughly 96,500 people.
4. Gilead Sciences: Gilead Sciences has operations in North America, Europe, and Australia. Initially, the company focused heavily on anti-viral drugs; however, after its acquisition of two smaller pharmaceutical companies that focused on treatment for pulmonary diseases, its product line began to expand. Most recently, Gilead acquired Nimbus Apollo, Inc. for USD 400 million. In 2016, the company generated revenue of USD 30.4 billion, and employed almost 8,000 people.
5. AbbVie, Inc.: Founded in 2013 as a spinoff of Abbott Laboratories, the company develops, markets, and produces biopharmaceuticals and small molecule drugs. Though both pharmaceutical companies are profitable, AbbVie was created to operate as a research-based pharmaceutical manufacturer. In 2016, the company generated revenue of USD 25.63 billion, and employed more than 30,000 people.
6. Amgen: Amgen manufacturers biopharmaceuticals and is the world’s largest independent biotechnology firm. Some of its key products include Enbrel, used in the treatment of rheumatoid arthritis and other autoimmune diseases, and Neulasta, used to prevent infections in patients undergoing chemotherapy. In 2016, the company generated revenue of USD 22.99 billion, and employed 19,200 people.
7. Eli Lilly and Company: Also known simply as Lilly, the company is headquartered in Indianapolis, Indiana, with offices in Puerto Rico and seventeen other countries. It was the first of the pharmaceutical companies to mass-produce penicillin, insulin, and the Salk polio vaccine. In 2016, the company generated revenue of USD 21.22 billion, and employed more than 40,000 people.
8. Abbott Laboratories: Abbott’s products are used to diagnose and monitor HIV, hepatitis, cancer, heart failure and metabolic disorders. It also offers generic pharmaceuticals. In 2016, the company generated revenue of USD 20.85 billion, and employed more than 75,000 people.
9. Biogen: Founded in 1978 and formerly known as Biogen Idec, the company focuses on the development and delivery of treatments for hematologic, autoimmune, and neurodegenerative diseases. In 2015, the company generated revenue of USD 10.76 billion, and employed more than 7,000 people.
10. Celgene Corporation: Originally a part of the Celanese Corporation, Celgene became an independent company in 1986. The company specializes in the discovery and development of medicines for cancer and inflammatory disorders. In Q4 of 2016, the company’s net product sales totaled USD 2.98 billion, and the company employed more than 2,000 people.