Shots:
- Immunology continues to be a key focus area, with biopharmaceutical companies rigorously advancing innovative therapies including drugs, vaccines, and antibodies to address evolving patient needs and improve disease outcomes
- In 2024, the global immunology market size was valued at $109.4B and expected to reach $254.23B by 2032, with a CAGR of 11.8% from 2024 to 2032. AbbVie with $26.68B reported segment revenue ranks first in our list followed by Johnson & Johnson and Sanofi
- PharmaShots brings a concise report on the Top 20 Immunology Companies of 2025.
| Rank | Company | Immunology Revenue (2024 $B) | Immunology Revenue (2023 $B) | Percentage Change (%) |
| 1 | AbbVie | 26.68 | 26.13 | 2.10 |
| 2 | Johnson & Johnson | 17.82 | 18.05 | -1.27 |
| 3 | Sanofi | 13.61 | 12.21 | 11.47 |
| 4 | Novartis | 9.29 | 7.79 | 19.26 |
| 5 | AstraZeneca | 7.41 | 6.39 | 15.96 |
| 6 | Amgen | 7.29 | 6.45 | 12.92 |
| 7 | Roche | 5.66 | 7.64 | -25.92 |
| 8 | Takeda | 5.4 | 5.58 | -3.23 |
| 9 | Biogen | 5.1 | 5.4 | -5.56 |
| 10 | Bristol-Myers Squibb | 4.49 | 4.2 | 6.90 |
| 11 | Incyte | 3.34 | 3.09 | 8.09 |
| 12 | UCB | 2.85 | 2.53 | 12.64 |
| 13 | Eli Lilly | 2.45 | 2.05 | 19.51 |
| 14 | Pfizer | 2.36 | 3.02 | -21.85 |
| 15 | argenx | 2.2 | 1.19 | 84.87 |
| 16 | GSK | 1.87 | 1.71 | 9.36 |
| 17 | Astellas | 1.35 | 1.43 | -5.59 |
| 18 | Organon & Co. | 0.76 | 0.65 | 16.92 |
| 19 | Mitsubishi Tanabe Pharma | 0.66 | 1.71 | -61.40 |
| 20 | Merck & Co. | 0.65 | 0.89 | -26.97 |
Note: Columns 1 and 2 represent ranks and companies, while Columns 3, 4, and 5 showcase the total immunology revenue of 2024, the total immunology revenue of 2023, and the percentage change.
20. Merck & Co.
Immunology Segment Revenue: $0.65B
Founded Year: 1891
Market Cap: $210.88B
Total Employees: 75,000
Headquarters: Rahway, New Jersey.
Stock Exchange: NYSE
- Merck delivers innovative therapies across human and animal health through its pharmaceutical and animal health segments, focusing on medicines, vaccines, biologics, and related products
- Under its pharmaceutical segment, Merck markets Simponi and Remicade for autoimmune diseases. In 2024, immunology revenue declined by 26.97% due to lower sales of both products
- In October 2024, Mestag Therapeutics partnered with MSD in a licensing and research collaboration to discover new targets for inflammatory diseases.
19. Mitsubishi Tanabe Pharma (Bain Capital)
Immunology Segment Revenue: $0.66B
Founded Year: 1993
Market Cap: $1B
Total Employees: ~3,000
Headquarters: Osaka, Japan
Stock Exchange: TYO
- Mitsubishi Tanabe Pharma Corporation (MTPC) is a part of Bain Capital that manufactures and commercializes pharmaceutical drugs for various diseases
- The total immunology revenue generated by autoimmune products Stelara, Simponi & Gilenya (Royalty revenue) sales decreased by 61.40% in 2024 as compared to 2023, owing to the lower sales of each product
- In February 2025, Bain signed a definitive agreement to acquire Mitsubishi Tanabe Pharma Corporation.
18. Organon & Co.
Immunology Segment Revenue: $0.76B
Founded Year: 2020
Market Cap: $2.63B
Total Employees: 10,000
Headquarters: New Jersey, United States
Stock Exchange: NYSE
- Organon is a research-based global healthcare company that discovers, develops, and commercializes medicinal products for women’s health
- In immunology, the company develops Arcoxia (etoricoxib) and three biosimilars Hadlima (adalimumab-bwwd), Brenzys (etanercept), & Renflexis (infliximab-abda). In 2024, the immunology revenue increased by 16.92% as compared to 2023, mainly driven by increased sales of Hadlima and Arcoxia
- In October 2024, Organon completed the acquisition of Dermavant, a company developing and commercializing innovative therapeutic solutions in immuno-dermatology.
17. Astellas
Immunology Segment Revenue: $1.35B
Founded Year: 1923
Market Cap: $18.42B
Total Employees: ~13,600
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
- Astellas’ only immunology product Prograf (tacrolimus), comes in different formulations, including Advagraf, Graceptor, and ASTAGRAF XL. In 2024, segment revenue dipped by 5.59% as compared to 2023 sales, owing to the lower sales of Prograf
- In February 2024, Astellas and Kelonia Therapeutics entered into a research and license agreement to develop novel immuno-oncology therapeutics.
16. GSK
Immunology Segment Revenue: $1.87B
Founded Year: 2000
Market Cap: $76.57B
Total Employees: ~68,600
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 only immunology asset is Benlysta, which contributed to the total immunology sales of the company and showed an increment of 9.36% in 2024 as compared to 2023, due to strong demand for Benlysta in the US, Europe, and international markets
- In October 2024, GSK signed an agreement to acquire CMG1A46 from Chimagen Biosciences to expand its immunology pipeline.
15. argenx
Immunology Segment Revenue: $2.2B
Founded Year: 2008
Market Cap: $35.06B
Total Employees: ~1,600
Headquarters: Amsterdam, Netherlands
Stock Exchange: EBR
- argenx is a commercial-stage biopharmaceutical company developing and commercializing antibody-based therapies for the treatment of autoimmune diseases
- argenx’s immunology portfolio comprises VYVGART and VYVGART Hytrulo. In 2024, immunology sales increased by 84.87% as compared to 2023, owing to increased sales of VYVGART
- In November 2024, Steritas collaborated with argenx to advance evidence for novel steroid-sparing therapeutics.
14. Pfizer
Immunology Segment Revenue: $2.36B
Founded Year: 1849
Market Cap: $144.18B
Total Employees: 81,000
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 segments: Biopharma, PC1 and Pfizer Ignite
- Xeljanz, Enbrel, and Inflectra/Remsima are the products that fall under immunology portfolio. In 2024, Pfizer’s immunology revenue decreased by 21.85% as compared to 2023, owing to the reduced sales of Xeljanz and Enbrel
- In October 2024, Pfizer’s HYMPAVZI received the US FDA approval for the treatment of adults and adolescents with hemophilia A or B without inhibitor.
13. Eli Lilly & Company
Immunology Segment Revenue: $2.45B
Founded Year: 1876
Market Cap: $757.14B
Total Employees: 47,000
Headquarters: Indianapolis, 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
- The immunology segment of Eli Lilly includes drugs like Taltz and Olumiant among others. In 2024, the immunology segment showed an increase of 19.51% in revenue as compared to 2023, majorly driven by increased sales of Taltz
- In September 2024, the US FDA approved Lilly’s EBGLYSS for adults and children 12 years and older with moderate-to-severe atopic dermatitis.
12. UCB
Immunology Segment Revenue: $2.85B
Founded Year: 1928
Market Cap: $40.91B
Total Employees: 9,400
Headquarters: Brussels, Belgium
Stock Exchange: EBR
- A multinational biopharma company, UCB, develops, manufactures, and commercializes therapies in neurology, immunology, and rare diseases
- In immunology, UCB has three products Cimzia, Bimzelx, and Evenity. UCB reported an increase of 12.64% in the segment revenue in 2024 as compared to 2023, owing to increased sales of Bimzelx and Evenity
- In September 2024, UCB and Biogen reported the positive topline data from P-III study of Dapirolizumab Pegol in Systemic Lupus Erythematosus.
11. Incyte
Immunology Segment Revenue: $3.34B
Founded Year: 2002
Market Cap: $13.68B
Total Employees: ~2,600
Headquarters: Delaware, United States
Stock Exchange: NASDAQ
- A global biopharmaceutical company, Incyte discovers, develops, and commercializes proprietary therapeutics. The company works in areas of Hematology/Oncology and Inflammation & Autoimmunity
- Incyte’s Jakafi, Olumiant, and Jakavi (royalty revenue) are the products approved for autoimmune indications. In 2024, the company reported an increase of 8.09% in its segment revenue as compared to 2023, owing to the increased sales of Jakafi
- In August 2024, Incyte and Syndax reported the US FDA approval of Niktimvo to treat chronic graft-versus-host disease (GVHD).
10. Bristol-Myers Squibb
Immunology Segment Revenue: $4.49B
Founded Year: 1887
Market Cap: $99.68B
Total Employees: 34,100
Headquarters: New Jersey, United States
Stock Exchange: NYSE
- BMS is an American biopharma company that discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products on a global basis
- The company has three autoimmune products: Orencia, Sotyktu, and Zeposia. Orencia contributed the most to the total immunology revenue. The company’s immunology revenue in 2024 increased by 6.9% as compared to 2023, owing to the overall increased sales of autoimmune products
- In April 2024, Repertoire Immune Medicines and BMS entered in a multi-year strategic collaboration to develop tolerizing vaccines for autoimmune diseases.
09. Biogen
Immunology Segment Revenue: $5.1B
Founded Year: 1978
Market Cap: $19.19B
Total Employees: ~7,600
Headquarters: Massachusetts, United States
Stock Exchange: NASDAQ
- Biogen is a biopharmaceutical company that discovers, develops, and delivers innovative treatments for Alzheimer’s, lupus, multiple sclerosis, and other therapy areas
- Tysabri, Flixabi, Tecfidera, Vumerity, Avonex, Plegridy, Fampyra, Benepali, and Imraldi are the approved products of Biogen for autoimmune indications. In 2024, the immunology segment faced a decline of 5.56% as compared to 2023, due to low sales of most of the immunological products
- In October 2024, Biogen received the US FDA’s BTD for Felzartamab for the treatment of antibody-mediated rejection in kidney transplant recipients.
08. Takeda
Immunology Segment Revenue: $5.4B
Founded Year: 1781
Market Cap: $47.2B
Total Employees: 47,000
Headquarters: Tokyo, Japan
Stock Exchange: TYO
- Takeda is a multinational pharmaceutical company that focuses on five key business areas, including Gastrointestinal, Rare diseases, PDT Immunology, Oncology, and Neuroscience
- The company’s PDT Immunology segment includes immunoglobulin products and Albumin products. In 2024, the segment revenue decreased by 3.23% compared to 2023, owing to the lower sales of the PDT Immunology products
- In May 2024, AC Immune and Takeda entered into an exclusive option and license agreement for active immunotherapy targeting amyloid beta for Alzheimer’s disease.
07. Roche
Immunology Segment Revenue: $5.66B
Founded Year: 1896
Market Cap: $305.09B
Total Employees: ~103,200
Headquarters: Basel, Switzerland
Stock Exchange: SWX
- Roche is a global multinational healthcare company that discovers, develops, and commercializes therapeutic and diagnostic products. The company operates under two business segments, i.e. Pharmaceuticals and Diagnostics
- Actemra/RoActemra, Xolair, and MabThera/Rituxan are the products under the immunology segment of Roche. In 2024, immunology showed a 25.92% decrease in its revenue compared to 2023, due to lower sales of MabThera/Rituxan
- In February 2024, the US FDA approved Xolair as the first and only medicine for children and adults with one or more food allergies.
06. Amgen
Immunology Segment Revenue: $7.29B
Founded Year: 1980
Market Cap: $158.49B
Total Employees: 28,000
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
- Enbrel, Otezla, Tavneos, Tepezza, Uplizna and Amjevita (biosimilar to Humira) are the company’s key autoimmune products. In 2024, the immunology revenue increased 12.92% as compared to 2023, predominantly due to the overall increased sales of all the autoimmune products
- In 2024, the US FDA accepted the regulatory submission for the P-III MITIGATE study of Uplizna under priority review with a PDUFA action date of April 3, 2025.
05. AstraZeneca
Immunology Segment Revenue: $7.41B
Founded Year: 1999
Market Cap: $228.18B
Total Employees: ~94,300
Headquarters: Cambridge, United Kingdom
Stock Exchange: LON
- AstraZeneca discovers, develops, and commercializes medicines in oncology, cardiovascular, renal, metabolic, respiratory, and immunology, vaccines and immune therapies, and rare diseases
- Saphnelo, Soliris, and Ultomiris are AstraZeneca’s immunology products. In 2024, the company’s immunology revenue increased by 15.96% as compared to 2023, majorly driven by the increased sales of Ultomiris
- In September 2024, AstraZeneca started a P-III study for SAPHNELO in cutaneous lupus (LAVENDER) and idiopathic inflammatory myopathies (JASMINE).
04. Novartis
Immunology Segment Revenue: $9.29B
Founded Year: 1996
Market Cap: $246.35B
Total Employees: ~27,100
Headquarters: Basel, Switzerland
Stock Exchange: SWX
- Novartis discovers, develops, and commercializes products in cardiovascular, renal, metabolic (CRM), immunology, neuroscience, and oncology
- Cosentyx, Xolair, Ilaris, Gilenya, Kesimpta, Mayzent, and Jakavi (GvHD) are the company’s immunology products. In 2024, the total immunology revenue increased by 19.26% as compared to 2023, owing to the higher sales of immunology medicines
- In March 2024, IFM Therapeutics reported that Novartis exercised its option to acquire all of the outstanding capital stock of IFM Due, a subsidiary company of IFM, to develop the STING antagonist program targeting the innate immune system.
03. Sanofi
Immunology Segment Revenue: $13.61B
Founded Year: 1956
Market Cap: $121.96B
Total Employees: ~82,900
Headquarters: Paris, France
Stock Exchange: NASDAQ
- Sanofi is a global French pharmaceutical and healthcare company that researches, develops, manufactures, and markets pharmaceutical products in immunology and inflammation, neurology, oncology, rare blood disorders, rare diseases, and vaccines
- Dupixent and Kevzara are Sanofi’s immunology products. In 2024, the segment revenue increased by 11.47% as compared to 2023, owing to increased sales of Dupixent
- In October 2024, Recordati enters into an agreement with Sanofi to acquire the global rights to Enjaymo, strengthening its rare diseases franchise.
02. Johnson & Johnson
Immunology Segment Revenue: $17.82B
Founded Year: 1886
Market Cap: $406.87B
Total Employees: ~139,800
Headquarters: New Jersey, United States
Stock Exchange: NYSE
- J&J is a global healthcare company that provides new medications and MedTech solutions in oncology, immunology, neuroscience, cardiology, pulmonary hypertension, and ophthalmology
- Remicade, Simponi/Simponi Aria, Stelara, and Tremfya, among others are the company’s immunology products. In 2024, the immunology segment revenue decreased by 1.27% as compared to 2023, owing to the lower sales of Stelara and Remicade
- In July 2024, J&J acquired Yellow Jersey Therapeutics, strengthening its pipeline to lead in atopic dermatitis.
01. AbbVie
Immunology Segment Revenue: $26.68B
Founded Year: 2013
Market Cap: 6.45
Total Employees: 55,000
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
- Humira, Skyrizi, and Rinvoq are the three products in AbbVie’s immunology segment. In 2024, AbbVie’s revenue increased by 2.1% compared to 2023, due to high sales of Skyrizi and Rinvoq
- In December 2024, AbbVie entered into a definitive agreement under which AbbVie acquired Nimble to strengthen its immunology pipeline.
Sources:
- Annual reports
- SEC Filings
- Press releases
- Company websites
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