As is evidenced by much of the commentary in this issue, as well as in the news today, biotech is more front and center than it ever was, given the challenges of containing Covid-19. It’s not just that disease itself that must be faced, but the many other conditions that put patients at greater risk and vulnerability.
Fortunately, the biotech pipeline is strong. Today biotech represents more than 80 percent of the drugs currently in development. How to get those products through the pipeline faster, and to the HCPs and patients? That’s what’s on the minds of companies, organizations, laboratories and regulators right now.
Investment continues to grow in novel therapies, their mechanisms and platforms, and their potential indications. Barriers are coming down for products such as biosimilars and cell therapies. There is a global effort to make it easier for patients to participate in trials, to speed up the trials, and to get to approval. Obviously, we imagine that we will be looking at a very different landscape in 2020 as we see the impact of Covid-19. Just in the area of a search for a coronavirus vaccine, we might see companies like Inovio, Novavax, Heat Biologics, BioNTech, Vaxart, Vir Biotechnology, Moderna Therapeutics, Dynavax, Geovax and Curevac join the list if they are the ones to find a solution.
For the moment, here are the latest statistics on the ups and downs in the biotech sector. Revenues grew in 37 of the 50 with total revenues of $326 billion. The Top 10 still make up over 70% with their portion of the revenue pie dropping only 1% to 72% from 73% in the year prior. Companies are ranked by their 2019 revenue as furnished by their annual reports and publicly available sources such as Edgar and Morningstar stock information websites and Sec.gov. Figures of non-U.S. companies were converted to U.S. dollars from various currencies using end of the year exchange rates for 2019. Companies are categorized by their predominant revenue source and their own characterization per publicly available sources.
Companies are ranked by their 2019 revenue as furnished by their annual reports and publicly available sources such as Edgar and Morningstar stock information websites. Figures of non-U.S. companies were converted to U.S. dollars from various currencies.