Top 20 Oncology Companies of 2024

Shots:

• With more than 50 percent of ongoing clinical trials, Oncology remains one of the most explored therapy areas in healthcare
• In 2023, the global oncology market was valued at $222.36B and is envisioned to grow to $521.6B by 2033, registering a CAGR of 8.9% from 2024 to 2033. With $27.6B registered oncology revenue, Merck ranks first in our list, followed by Bristol-Myers Squibb and Roche
• PharmaShots brings a concise report on the Top 20 Oncology companies of 2024 based on their oncology segment revenue of last year

Note: Columns 1 and 2 represent ranks and companies, while Columns 3, 4, and 5 showcase the total Oncology revenue of 2022, the total revenue of 2023, and the percentage change.

20. Teva Pharmaceuticals

Oncology Segment Revenue: $0.24B

Founded Year: 1944

Market Cap: $20.86B

Total Employees: ~37,900

Headquarters: Israel

Stock Exchange: NYSE

• A multinational pharmaceutical company based in Israel, Teva develops and commercializes specialty medicine, OTC, biopharma, and generic products 
• In cancer care, the company owns products like Bendeka and Treanda, Granix, Trisenox, and more. In 2023, Teva reported a decline of 23.73% in its oncology revenue as compared to 2022 due to low sales of Bendeka and Treanda
• In Dec’23, Teva and Biolojic Design signed an exclusive license agreement for therapeutic antibody development in atopic dermatitis and asthma 

19. GSK

Oncology Segment Revenue: $0.93B

Founded Year: 2000

Market Cap: $90.65B

Total Employees: ~70,200

Headquarters: London, United Kingdom

Stock Exchange: LON

• GSK is a British multinational biopharma company that researches, discovers, manufactures, and commercializes therapies for infectious diseases, HIV, immunology, respiratory, and cancer
• GSK’s oncology segment comprises Zejula, Blenrep, Jemperli, and Ojjaara. In 2023, the company reported 27.75% more sales as compared to 2022, due to strong sales of Jemperli and Zejula
• In Dec’23, GSK’s Jemperli + CT approved as immuno-oncology treatment in the EU for dMMR/MSI-H primary advanced or recurrent endometrial cancer

18. Bayer

Oncology Segment Revenue:  $1.53B

Founded Year: 1863

Market Cap: $30.24B

Total Employees: ~99,700

Headquarters: Leverkusen, Germany

Stock Exchange: ETR

• Bayer is a global healthcare and nutrition company. Crop science, pharmaceuticals, and consumer health are the company’s business segments. Bayer focuses on cardiology, gynecology, diabetes, oncology, and ophthalmology
• Bayer’s oncology portfolio comprises Nexavar, Nubeqa, Xofigo, Stivarga, Aliqopa, and Vitrakvi. In 2023, the oncology segment reported 6.37% more revenue vs. 2022, owing to the higher sales of Nubeqa 
• In Nov’23, Bayer and Recursion collaborate for research in oncology

17. Daiichi Sankyo

Oncology Segment Revenue: $2.08B

Founded Year: 1899

Market Cap: $82.62B

Total Employees: ~17,400

Headquarters: Tokyo, Japan

Stock Exchange: TYO

• A global Japan-based pharmaceutical company, Daiichi Sankyo develops and markets both innovative and generic medicines by leveraging new-age drug discovery and delivery solution
• In oncology, Daiichi’s key performing products are Enhertu, Turalio, and Vanflyta. In 2023, the revenue generated from the company’s oncology products registered a spike of 88.06% owing to the increased sales of Enhertu in the US and Europe
• In Aug’23, Daiichi Sankyo’s Vanflyta was launched in the US as a first-line treatment for patients with AML

16. BeiGene

Oncology Segment Revenue: $2.18B

Founded Year: 2010

Market Cap: $21.71B

Total Employees: 10,600

Headquarters: Massachusetts, United States

Stock Exchange: NASDAQ

• A global oncology-based company, BeiGene discovers and develops treatment solutions for cancer patients. The company focuses on hematology and solid tumors
• Brukinsa, Tislelizumab, Revlimid, Xgeva, Pobevcy, Blincyto, Vidaza, Kyprolis, and Pamiparib, are BeiGene’s notable products for several types of cancers. In 2023, the company registered a spike in revenue of cancer products by 74.54% due to an increased sales volume of Brukinsa in the US, Europe, and China and increased sales of Tislelizumab in China
• In Sep’23, BeiGene and Novartis terminated deal a 2021 signed deal to codevelop tislelizumab

15. Sanofi

Oncology Segment Revenue: $2.58B

Founded Year: 1973

Market Cap: $142.08B

Total Employees: ~86,100

Headquarters: Paris, France

Stock Exchange: NASDAQ

• Sanofi is a research-based global French pharmaceutical and healthcare company that develops, manufactures, and markets innovative therapeutic options. Key focus areas are Immunology & Inflammation, neurology, oncology, rare diseases, and vaccines
• Sanofi owns products Jevtana, Sarclisa, Fasturtec, Altuviiio, Eloctate, Alprolix, Cablivi, and Enjaymo under its oncology portfolio. In 2023, the company reported an increase of 152.81% in its oncology revenue vs. 2022. The high sales are attributed to the increased revenue of Sarclisa, Alprolix, Cablivi, and Enjaymo
• In Apr’23, Sanofi and Gustave Roussy reported strategic collaboration in oncology research

14. Gilead Sciences

Oncology Segment Revenue: $2.93B

Founded Year: 1987

Market Cap: $97.81B

Total Employees: 18,000

Headquarters: California, United States

Stock Exchange: NASDAQ

• A research-based biopharma company, Gilead Sciences discovers, develops, and delivers medicines for life-threatening diseases such as HIV, viral hepatitis, coronavirus disease, and cancers
• Gilead oncology products include Tecartus, Trodelvy, and Yescarta. In 2023, the company reported a 37.07% increase in revenue compared to 2022 due to increased sales of Tecartus, Trodelvy, Yescarta
• In Dec’23, Ideaya and Gilead Sciences collaborated for a clinical study to evaluate Trodelvy and IDE397 combination in MTAP-Deletion Bladder Cancer

13. Takeda

Oncology Segment Revenue: $3.12B

Founded Year: 1781

Market Cap: $47.88B

Total Employees: ~49,300

Headquarters: Tokyo, Japan

Stock Exchange: TYO

• Takeda is a multinational pharmaceutical company with a key focus on gastrointestinal, rare diseases, immunology, oncology, and neuroscience  
• Leuplin, Ninlaro, Adcetris, Iclusig, Velcade, Alunbrig, and Exkivity among others are the company’s oncology products. In 2023, Takeda registered a decline of 10.05% in its oncology revenue as compared to 2022 owing to low sales of Velcade
• In Nov’23, Takeda’s Fruzaqla received U.S. FDA’s approval for Previously Treated Metastatic Colorectal Cancer

12. Incyte

Oncology Segment Revenue: $3.21B

Founded Year: 2002

Market Cap: $12.64B

Total Employees: ~2,300

Headquarters: Delaware, United States

Stock Exchange: NASDAQ

• A global biopharma company, Incyte discovers, develops, and commercializes proprietary medicines. hematology/oncology and inflammation & autoimmune are the key therapy areas that the company focuses
• Jakafi, Iclusig, Pemazyre, Monjuvi, and Zynyz are the company’s key products in Oncology. In 2023, Incyte’s oncology revenue increased by 8.36% as compared to 2022, owing to increased volume sales of Jakafi globally
• In Mar’23, Incyte’s Zynyz received accelerated approval from the US FDA for the treatment of patients with Merkel Cell Carcinoma

11. Astellas Pharma

Oncology Segment Revenue: $5.49B

Founded Year: 1923

Market Cap: $22.9B

Total Employees: ~14,500

Headquarters: Tokyo, Japan

Stock Exchange: TYO

• Astellas is a multinational pharmaceutical company that focuses on genetic regulation, immuno-oncology, blindness & regeneration, and targeted protein degradation   
• In immuno-oncology, the company’s key products are Xtandi, Padcev, and Xospata. The company’s immuno-oncology revenue declined by 6.44% in 2023 as compared to 2022, owing to low reported sales volumes of its immuno-oncology products globally
• In Nov’23, Astellas’ Xtandi received the US FDA’s approval to treat patients with nmCSPC

10. AbbVie

Oncology Segment Revenue: $5.91B

Founded Year: 2013

Market Cap: $345.14B

Total Employees: 50,000

Headquarters: Illinois, United States

Stock Exchange: NYSE

• AbbVie discovers, manufactures, and commercializes products in oncology, immunology, neuroscience, eye care, aesthetics, and other chronic and complex diseases
• Imbruvica, Venclexta, and Epkinly are three assets that come under its oncology portfolio. In 2023, the company reported a loss of 10.06% in its oncology revenue as compared to 2022 due to the lower sales of Imbruvica
• In Nov’23, AbbVie proposed the acquisition of ImmunoGen, which was completed in Feb’24

09. Eli Lilly

Oncology Segment Revenue: $6.65B

Founded Year: 1876

Market Cap: $901.9B

Total Employees: 43,000

Headquarters: Indiana, United States

Stock Exchange: NYSE

• Eli Lilly is an American pharmaceutical company that specializes in bone and joint disease, cancer, cardiovascular disease, diabetes, endocrine illness, immunology, neurodegeneration, neurology, and pain management  
• Lilly’s oncology portfolio comprises Verzenio, Cyramza, Alimta, Erbitux, and Tyvyt, among others. In 2023, the company registered an increase of 17.50% in its oncology revenue as compared to 2022 due to high sales of Verzenio
• In Dec’23, Lilly completed the acquisition of POINT Biopharma. The acquisition aimed to expand its oncology capabilities into next-generation radioligand therapies  

08. Amgen

Oncology Segment Revenue: $7.44B

Founded Year: 1980

Market Cap: $177.04B

Total Employees: 26,700

Headquarters: California, United States

Stock Exchange: NASDAQ

• Amgen is a global biotech company that discovers, develops, manufactures, and delivers innovative therapies. The company focuses on cardiovascular diseases, oncology, bone health, neuroscience, nephrology, and inflammation
• Kyprolis, Blincyto, Vectibix, Kanjinti, Mvasi, Xgeva, Neulasta, Neupogen, Lumakras & Sensipar are the products in Amgen’s oncology portfolio. In 2023, Amgen reported an increase of 1.11% in its oncology revenue as compared to 2022 owing to an increased sale of Kyprolis, Blncyto, and Xgeva globally
• In Dec’23, the FDA granted a priority review for Amgen’s application of Tarlatamab to treat advanced SCLC

07. Pfizer

Oncology Segment Revenue: $11.62B

Founded Year: 1849

Market Cap: $162.92B

Total Employees: 88,000

Headquarters: New York, United States

Stock Exchange: NYSE

• Pfizer is an American multinational company that develops, manufactures, and markets medicines and vaccines. The company operates in three main segments: Primary care, specialties, and oncology
• Pfizer’s oncology segment comprises Ibrance, Xtandi, Inlyta, Zirabev, and Xalkori. In 2023, the company’s oncology revenue decreased by 4.16% as compared to 2022 due to low demand for Ibrance
• In Mar’23, Pfizer entered into a definitive merger agreement to acquire Seagen to advance cancer care  

06. Novartis

Oncology Segment Revenue: $13.59B

Founded Year: 1996

Market Cap: $262.33B

Total Employees: ~19,600

Headquarters: Basel, Switzerland

Stock Exchange: SWX

• An innovative medicines company, Novartis discovers, develops, and sells products in cardiovascular, renal, metabolic (CRM), immunology, neuroscience, and oncology
• Promacta/Revolade, Kisqali, Tafinlar, Mekinist, Tasigna, Jakavi, Pluvicto, Lutathera, Scemblix, and Fabhalta are the key oncology products of Novartis. In 2023, the total oncology revenue increased by 21.59% as compared to 2022, mainly due to the sales growth of Kisqali, Pluvicto, Scemblix, and Promacta/Revolade
• In Nov’23, Legend Biotech secured an exclusive global license agreement with Novartis Pharma AG for specific CAR-T therapies targeting DLL3, including its autologous candidate LB2102 

05. AstraZeneca

Oncology Segment Revenue: $17.14B

Founded Year: 1999

Market Cap: $291.99B

Total Employees: 89,900

Headquarters: Cambridge, United Kingdom

Stock Exchange: LON

• AstraZeneca discovers and develops medicines in oncology, cardiovascular, renal, metabolic, respiratory, and immunology, vaccines and immune therapies, and rare diseases
• Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Zoladex, Faslodex, Iressa, Arimidex, and Casodex are the company’s oncology assets. In 2023, the oncology revenue registered a spike of 17.18% vs. 2022 due to continued growth in sales of its oncology products
• In Jul’24, Tagrisso plus chemotherapy got approval in the EU to treat patients with EGFR-mutated advanced lung cancer

04. Johnson & Johnson

Oncology Segment Revenue: $17.66B

Founded Year: 1886

Market Cap: $394.60B

Total Employees: 131,900

Headquarters: New Jersey, United States

Stock Exchange: NYSE

• An American multinational company, JNJ focuses on delivering innovative medicines and MedTech solutions in oncology, immunology, neuroscience, cardiovascular, pulmonary hypertension, and ophthalmology
• Darzalex, Erleada, Imbruvica, and Zytiga are among the company’s oncology assets. In 2023, J&J’s oncology sales reported an increase of 10.49% as compared to 2022, owing to an increased sale of Darzalex, Erleada, Carvykti, Tecvayli, and Talvey
• In Dec’23, Johnson & Johnson submitted the sBLA to the US FDA for Rybrevant plus Lazertinib to treat adult patients with locally advanced or metastatic NSCLC

03. Roche

Oncology Segment Revenue: $22.68B

Founded Year: 1896

Market Cap: $275.16B

Total Employees: 100,000

Headquarters: Basel, Switzerland

Stock Exchange: SWX

• Roche is a global multinational healthcare company that discovers, develops, and commercializes therapies and diagnostic products. The company operates in two business segments: Pharmaceuticals and Diagnostics
• Perjeta, Tecentriq, Herceptin, Avastin, Kadcyla, Alecensa, Phesgo, Gazyva/Gazyvaro, Polivy, and Erivedge are Roche’s key products in Oncology. In 2023, the company reported a 4.88% increase in its revenue as compared to 2022 due to increased sales of Tecentriq, Kadcyla, and Perjeta 
• In Dec’23, Roche reported positive P-III results for Inavolisib in combination therapy for patients with advanced hormone receptor-positive, HER2-negative breast cancer-bearing a PIK3CA mutation

02. Bristol-Myers Squibb

Oncology Segment Revenue: $24.83B

Founded Year: 1887

Market Cap: $99.46B

Total Employees: 34,100

Headquarters: New Jersey, United States

Stock Exchange: NYSE

• A global biopharma company, Bristol-Myers Squib discovers, develops, and delivers innovative therapies to meet unmet healthcare needs. The company focuses on oncology, hematology, immunology, cardiovascular, and neuroscience
• Revlimid, Opdivo, Pomalyst, Sprycel, Yervoy, Abraxane, Empliciti, Abecma, Breyanzi, Inrebic, and Onureg are among the assets in the company’s oncology portfolio. In 2023, BMS registered a sharp decline in its oncology revenue by 10.05 % vs. 2022 owing to decreased sales of Revlimid in the US and ROW and Abraxane in the US
• In Nov’23, the US FDA approved BMS’ Augtyro for the treatment of patients with locally advanced or metastatic ROS1-positive NSCLC

01. Merck & Co.

Oncology Segment Revenue: $27.6B

Founded Year: 1891

Market Cap: $297.59B

Total Employees: 69,000

Headquarters: New Jersey, United States

Stock Exchange: NYSE

• Merck provides innovative therapeutic solutions by developing and producing medicines, vaccines, biological treatments, and health products for animals and humans. The company works in two business segments: pharmaceutical and animal health
• Keytruda, Lynparza, Lenvima, Reblozyl, and Welireg are the key products of Merck’s oncology portfolio. In 2023, the company’s oncology revenue showed an increase of 18.87% as compared to 2022, majorly due to the high sales volume of Keytruda
• In Dec’23, the FDA Approved Merck’s WELIREG for the treatment of patients with advanced Renal Cell Carcinoma (RCC) after PD-1 or PD-L1 inhibitor and VEGF-TKI therapy

Sources:

• Annual reports
• SEC Filings
• Press releases
• Company websites

Market Cap Source: Google Finance (29 Aug 2024)

Currency Conversion: X-Rates

Note: Percentage Change in Segment Revenue is calculated on precise value in Millions

Related Post: Top 20 Oncology Companies Based on 2022 By Total Revenue