Pharma & Biotech

Regeneron
Regeneron’s partnerships with Sanofi and Bayer remain structural pillars underpinning its business model. The Sanofi antibody collaboration continues to deliver expanding profit contributions, with Regeneron’s share of profits at $1.28 billion in Q2FY25.
Zoetis
The performance of the Simparica franchise, encompassing both Simparica and the flagship combination product Simparica Trio, provides a compelling case study in competitive durability. The franchise delivered exceptional 17% operational growth in the second quarter, reaching revenues of $448 million.
Cigna Group
The company’s unique position, where it manages both medical and pharmacy benefits for the same patient population, provides data insights that competitors cannot easily replicate. This gives Cigna a strong and unique edge in the market.
Pfizer
Pfizer will acquire all outstanding shares of Metsera common stock for $47.50 per share in cash at closing, representing an enterprise value of approximately $4.9 billion.
Eli Lilly
Eli Lilly’s current growth trajectory is driven by its strong commercial execution, particularly in the cardiometabolic space where it dominates the incretin class of medications for type 2 diabetes and obesity.
Baxter International
Baxter International maintains commanding market positions in essential healthcare products that provide defensive characteristics during challenging operational periods.
United Therapeutics
United Therapeutics delivered another quarter of robust financial performance in Q2 2025, achieving record total revenues of $799 million, a 12% year over-year increase.
Amgen
Amgen’s Q2 FY25 results highlight the resilience of its core business, which is anchored by a diverse set of products. Revenue grew 9% YoY to $9.2bn, driven by 13% volume growth across multiple therapeutic areas despite an average 3% decline in net pricing.
Novartis
Novartis stands at a critical juncture in its patent lifecycle management, with the company facing significant challenges from impending generic competition while simultaneously demonstrating strong replacement power through new product launches.
biogen
Leqembi, co-developed with Eisai, achieved $160 million globally, including $63 million in the U.S., marking a 20% sequential increase.
Gilead Sciences
Gilead’s HIV portfolio continues to generate solid growth, anchoring its revenue base.
Dr. Reddy's Laboratories
North America revenues came in weaker in constant currency, declining due to price erosion in key products such as Lenalidomide. India contributed positively, with sales of ₹1.47bn , growing 11% year-on-year and 13% sequentially, supported by new product launches and price gains.