Shots:

• With more than 50% of ongoing clinical trials worldwide in oncology domains, cancer remains one of the leading causes of death worldwide. Oncology companies are steadfastly looking for innovative therapies to cure both hematologic and solid tumor cancer
• The global oncology drug market size in 2022 was valued at $185B and is forecasted to reach $205B by 2030 with a CAGR of 13%. In 2022, BMS got the topmost position with a revenue of $27.9B, followed by Merck & Co. and Roche with $23B and $21.62B revenues, respectively
• PharmaShots brings an incisive report on the Top 20 Oncology Companies based on 2022 total Oncology Segment Revenue

20. Dr.Reddy

Oncology Segment Revenue: $51.78M

Founded Year: 1984

Market Cap: $10.99B

Total Employees: ~25,860

Headquarters: Hyderabad, India

Stock Exchange: NSE

• A multinational pharma company, Dr. Reddy’s Laboratories develops and commercializes a wide range of generic formulations and proprietary products. The company focuses on Oncology, Cardiovascular, Dermatology, Gastrointestinal, Diabetology, Nephrology, and Pain Management. Dr. Reddy’s operates under three segments i.e., Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others
• Dacotin and Pamorelint are among the products developed by the company under its Oncology segment. Revenue for Dr. Reddy’s spiked by 55.59% in 2022 compared to 2021
• In Jun’22, the company reported the launch of Sorafenib Tablets, a generic equivalent of Nexavar tablet developed by Bayer for the treatment of Primary Kidney Cancer, Advanced Primary Liver Cancer, FLT3-ITD Positive AML, and Radioactive Iodine-Resistant Advanced Thyroid Carcinoma

19. GSK

Oncology Segment Revenue: $728.51M

Founded Year: 2000

Market Cap: $74.01B

Total Employees: ~69,400

Headquarters: London, United Kingdom

Stock Exchange: LON

• GSK is a British multinational healthcare company known for discovering, developing, and commercializing various therapeutic entities in the Oncology, Respiratory, and Immune Inflammation domains. The company develops its products under Vaccines, Specialty Medicines, and General Medicines
• Under its Oncology segment, GSK develops Zejula, Blenrep, and Jemperli among others. The company’s 2022 Oncology segment revenue rose by 10.06% as compared to 2021. The rise in the sales of GSK’s oncology segment can be attributed to the 17% increase in the sales of its lead oncology asset Zejula
• In Apr’22, GSK reported the acquisition of Sierra Oncology for ~1.9B for its therapies for rare forms of blood cancer including myelofibrosis

18. Sanofi

Oncology Segment Revenue: $1.01B

Founded Year: 2004

Market Cap: $134.82B

Total Employees: ~91,573,400

Headquarters: Paris, France

Stock Exchange: NASDAQ

• Sanofi is a multinational healthcare company that develops and commercializes therapeutic entities for the betterment of human health. The company functions under the Pharmaceuticals, Vaccines, and Consumer Health business segments
• Moreover, the company focuses on Oncology, Cardiovascular, Neurology, Immunology, and Inflammation. The company’s total Oncology segment revenue is contributed by the sales of Brukinsa, Tislelizumab, Revlimid, Xgeva, Pobevcy, Blincyto, Vidaza, Kyprolis, Pamiparib. Sanofi's oncology segment revenue declined by 1.73% from 2021 to 2022. The decrease in the overall sales of the company’s oncology segment was led by the fall in sales of Libtayo indicated for non-small cell lung cancer and basal cell carcinoma
• In Aug’22, Sanofi entered into a strategic collaboration agreement with Innovent Biologics to accelerate the development of its Oncology products across China

17. BeiGene

Oncology Segment Revenue: $1.25B

Founded Year: 2010

Market Cap: $18.94B

Total Employees: ~9,200

Headquarters: Beijing, China

Stock Exchange: NASDAQ

• A multinational biotech company, BeiGene develops and distributes therapeutic products mostly in Oncology. Under its Oncology segment, BeiGene develops Brukinsa, Tislelizumab, Revlimid, Xgeva, Pobevcy, Blincyto, Vidaza, Kyprolis, and Pamiparib. Among its Oncology products Brukinsa and Tislelizumab were the highest contributing products with a sale of $564.65M and $422.88M respectively
• In 2022, BeiGene’s Oncology Segment revenue increased by 97.89% as compared to 2021. This massive increase in the sales of the company’s Oncology segment was attributed to the rising sales of Brukinsa in the United States and China along with the increase in the sales of Tislelizumab across China
• In Feb’22, BeiGene’s sNDA for Brukinsa was approved by the US FDA for the treatment of Chronic Lymphocytic Leukemia

16. Daiichi-Sankyo

Oncology Segment Revenue: $1.39B

Founded Year: 2005

Market Cap: $52.69B

Total Employees: ~17,400

Headquarters: Tokyo, Japan

Stock Exchange: TYO

• Daiichi Sankyo is a Japan-based biopharma company that discovers and develops novel therapies. The company mainly focuses on Oncology and Rare Diseases
• Enhertu and Turalio are the two products contributing to the total sales generated by its Oncology segment. Daiichi Sankyo’s 2022 Oncology segment revenue increased by 196.33% as compared to 2021. The company’s Oncology segment sales faced a tremendous increase due to the rise in the sales of its lead asset Enhertu
• In Aug’22, Daiichi Sankyo and AstraZeneca’s Enhertu received the US FDA’s approval as HER2-directed therapy for the treatment of HER2-low metastatic breast cancer

15. Bayer

Oncology Segment Revenue: $1.44B

Founded Year: 1863

Market Cap: $46.28B

Total Employees: ~101,370

Headquarters: Leverkusen, Germany

Stock Exchange: ETR

• A German multinational pharma and biotech firm, Bayer develops and commercializes therapeutic entities for a wide range of therapy areas. The company primarily focuses on Oncology, Cardiovascular, and kidney diseases. Bayer functions under three business segments that include Life Sciences, Healthcare, and Agriculture
• Its Oncology segment comprises Nexavar, Nubeqa, and Stivarga. In 2022, the company’s total Oncology segment revenue dropped by 8.78% vs. 2021. Bayer had to face a recession in its oncology segment revenue due to the drop in the sales of Nexavar and due to an additional tender procedure in China for Nexavar
• In Aug’22, Bayer’s sNDA for Nubeqa in combination with docetaxel was approved by the US FDA for the treatment of adult patients with mHSPC

14. Gilead

Oncology Segment Revenue: $2.13B

Founded Year: 1987

Market Cap: $92.33B

Total Employees: ~17,000

Headquarters: California, United States

Stock Exchange: NASDAQ

• Gilead Sciences is an American biopharma company that discovers, develops, and commercializes various therapeutic products. Gilead Sciences mainly focuses on Antiretroviral Therapy, Oncology, Hematology, Inflammatory, and respiratory diseases
• The Oncology segment revenue of the company is a contribution of the sales from Tecartus, Trodelvy, and Yescarta. Revenue for Gilead's oncology division increased 62.91% in 2022 compared to 2021. The rise in the company’s oncology segment revenue was attributed to the increase in the sales of Trodelvy and Yescarta by 78.94% and 66.91% respectively
• In Aug’22, Gilead Sciences agreed with Everest Medicines to acquire all the remaining development and commercialization rights for Trodelvy

13. Incyte

Oncology Segment Revenue: $2.53B

Founded Year: 2002

Market Cap: $13.01B

Total Employees: ~2,320

Headquarters: Delaware, United States

Stock Exchange: NASDAQ

• Committed to the discovery, development, and commercialization of proprietary therapeutics, Incyte is a renowned name in the pharmaceutical industry. The company mainly focuses on Hematology, Oncology, Inflammation, and Autoimmunity
• Incyte’s net Oncology segment revenue was majorly contributed by the sales of Jakavi, Iclusig, Pemazyre, and Monjuvi. In contrast to 2021, the company's total Oncology segment sales increased by 12.77% in 2022. The increase in the revenue could be ascribed to the rise in the sales of Jakafi, including a volume increase of $156.5M and a price increase of $118.2M
• In May’22, Incyte’s Jakavi received the EC’s approval as a post-steroid treatment for acute and chronic graft versus host disease (GVHD)

12. Takeda

Oncology Segment Revenue: $3.30B

Founded Year: 1781

Market Cap: $47.43B

Total Employees: ~50,000

Headquarters: Tokyo, Japan

Stock Exchange: TYO

• A Japan-based multinational pharmaceutical firm, Takeda, discovers, develops, and commercializes therapeutics under various therapy areas. The company focuses on developing therapeutic entities under the therapy areas, including Metabolic Disorders, Gastroenterology, Neurology, Inflammation, Immunology, and Oncology
• Takeda’s Oncology segment comprises Leuplin/Enantone, Ninlaro, Adcetris, Iclusig, Velcade, Alunbrig, Exkivity, as key products. Revenue for the company's Oncology segment in 2022 decreased 14.42% from 2021. The rapid generic erosion of Velcade sales in the US has been attributed to the decline in revenue for Takeda's Oncology segment
• In Jan’22, Takeda reported the acquisition of Adaptate Biotherapeutics to obtain its antibody-based γδ T cell engager platform, including pre-clinical candidate and discovery pipeline programs for the treatment of solid tumors

11. Eli Lilly

Oncology Segment Revenue: $5.66B

Founded Year: 1876

Market Cap: $511.00B

Total Employees: ~21,000

Headquarters: Indianapolis, United States

Stock Exchange: NYSE

• Lilly is a multinational pharma company that discovers, develops, manufactures, and markets therapeutic products for patients with unmet needs. The company focuses on Diabetes, Oncology, Immunology, and Neuroscience
• Lilly’s Oncology segment revenue was generated through the sales of products, including Verzenio, Cyramza, Alimta, Erbitux, Tyvyt, etc. with Verzenio being the highest-selling product with sales of $2.48B. The company’s 2022 Oncology segment revenue went down by 1.31% as compared to 2021. The fall in the total revenue generated by the company’s Oncology Segment revenue could be attributed to the decrease in the sales of Alimta by 54.99%
• In Sep’22, Lilly’s Retevmo received the US FDA’s approval for the treatment of adults with advanced or metastatic solid tumors

10. Astellas

Oncology Segment Revenue: $5.68B

Founded Year: 1923

Market Cap: $24.48B

Total Employees: ~14,520

Headquarters: Tokyo, Japan

Stock Exchange: TYO

• Astellas is a Japanese multinational pharma company that discovers, develops, and commercializes a wide range of pharmaceutical products. The company focuses on Cardiology, Hematology, Immunology, Infectious Diseases, Oncology, and Urology
• Xtandi, Padcev, Xospata, and Evrenzo are the key contributors to the company's net Oncology segment revenue with Xtandi alone contributing $4.97B to the net revenue. In 2022, Astellas’ Oncology segment revenue increased by 6.14% as compared to 2021. The increase in the net segment revenue was led by the inclined sales of all the Oncology products in 2022
• In Jul’22, Astellas and Seagen reported the results from the P-Ib/II clinical trial evaluating Padcev + Keytruda for the treatment of advanced Urothelial Cancer

9. AbbVie

Oncology Segment Revenue: $6.57B

Founded Year: 2013

Market Cap: $261.67B

Total Employees: ~50,000

Headquarters: Illinois, United States

Stock Exchange: NYSE

• A research-based pharmaceutical company based in the United States, AbbVie discovers and develops innovative medications to cure difficult-to-treat medical illnesses. Abbvie mainly focuses on key therapy areas like Immunology, Oncology, Neuroscience, Eye Care, Virology, Women’s Health, and Gastroenterology
• Imbruvica and Venclexta, developed by AbbVie's Oncology business, contributed $4.57B and $2.01B to the segment's overall sales. Revenue generated by the oncology segment fell by 9.01% from 2021 to 2022. The fall in the company’s oncology business revenue could be attributed to the fall in the sales of Imbruvica by 16% in 2022
• In Aug’22, AbbVie received the US FDA’s approval for Imbruvica to treat cGVHD in pediatric patients older than a year

8. Amgen

Oncology Segment Revenue: $7.57B

Founded Year: 1980

Market Cap: $142.45B

Total Employees: ~25,200

Headquarters: California, United States

Stock Exchange: NASDAQ

• Amgen is an American multinational biopharma company that discovers, develops, and commercializes therapeutic entities for the betterment of human health. The company focuses on Cardiovascular Diseases, Oncology, Bone Health, Neuroscience, Immunology, Nephrology, and Inflammation
• Kyprolis, Blincyto, Vectibix, Kanjinti, Mvasi, Xgeva, Neulasta, Neupogen, Lumakras, and Sensipar are the products developed by the company under its Oncology segment. Amgen’s 2022 revenue decreased by 8.59% as compared to 2021. The sales of the company’s products decreased due to lower COVID-19 antibody shipments and manufacturing costs
• In Aug’22, Amgen reported the acquisition of ChemoCentryx for $3.7B

7. Novartis

Oncology Segment Revenue: $11.17B

Founded Year: 1996

Market Cap: $231.29B

Total Employees: ~102,000

Headquarters: Basel, Switzerland

Stock Exchange: SWX

• Novartis is a multinational healthcare company that discovers, develops, and commercializes breakthrough therapies for the treatment of unmet healthcare needs. The company mainly focuses on Oncology, Hepatology, Immunology, Dermatology, Musculoskeletal Diseases, Neuroscience, and Ophthalmology
• Under its Oncology segment, the company develops Promacta, Tasigna, Tafinlar, Jakavi, Kisqali, and Kymriah. As compared to 2021, Novartis' Oncology segment revenue increased by 6.11% in 2022. The increase in the revenue of its Hematology segment was attributed to the increase in the sales of Promacta, Jakavi, and Scemblix along with the growth in the sales of its Solid Tumor products, including Kisqali, Pluvicto, and Tafinlar + Mekinist
• In Mar’22, Novartis’ Pluvicto received the US FDA’s approval as a targeted radioligand therapy for the treatment of PSMA positive Metastatic Castration-Resistant Prostate Cancer

6. Pfizer

Oncology Segment Revenue: $12.13B

Founded Year: 1849

Market Cap: $191.62B

Total Employees: ~83,000

Headquarters: New York, United States

Stock Exchange: NYSE

• Committed to the discovery, development, manufacturing, marketing, and distribution of a wide range of therapeutic products, Pfizer is among the renowned names in the pharma industry. The company focuses on Oncology, Immunology, Cardiology, Endocrinology, and Neurology
• Ibrance, Xtandi, Inlyta, Zirabev, Xalkori, etc., are the products developed under the oncology division. The highest contributor to the company’s overall oncology revenue is Ibrance with a sale of $5.12B in 2022. The Oncology segment sales for Pfizer decreased by 1.63% from 2021 to 2022. The decline in sales of Ibrance, Xalkori, Ruxience, Retacrit, and Sutent could be implicated in the company's decreasing oncology segment revenue
• In Jan’22, Pfizer’s Lorviqua received the EC’s approval for the treatment of ALK-positive advanced lung cancer

5. AstraZeneca

Oncology Segment Revenue: $14.63B

Founded Year: 1923

Market Cap: $207.73B

Total Employees: ~83,500

Headquarters: Cambridgeshire, United Kingdom

Stock Exchange: LON

• A multinational pharma and biotech company, AstraZeneca discovers and develops innovative medicines. Oncology, Cardiology, Gastrointestinal Infections, and Inflammation are the key therapy areas of target
• The oncology segment comprises Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Zoladex, Faslodex, Iressa, Arimidex, and Casodex. AstraZeneca’s 2022 Oncology business revenue boosted by 13.07% as compared to 2021. The increase in the segment revenue was attributed to the rapid and broad market penetration of its Oncology products with 8 new indications launches and 21 major market approvals for Imfinzi, Enhertu, and Lynparza. Additionally, the increase in the sales of Calquence and Enhertu also led to the growth in the company’s overall segment revenue
• In Oct’22, AstraZeneca’s Imjudo in combination with Imfinzi, received the US FDA’s approval for the treatment of unresectable liver cancer

4. Johnson n Johnson

Oncology Segment Revenue: $15.98B

Founded Year: 1886

Market Cap: $373.60B

Total Employees: ~152,700

Headquarters: New Jersey, United States

Stock Exchange: NYSE

• J&J is a multinational American healthcare company and a renowned name in the pharma industry that develops and commercializes a wide range of therapeutic entities. The company mainly focuses on Oncology, Immunology, Cardiovascular, Metabolism, and Pulmonary Hypertension
• The sales of Darzalex, Erleada, Imbruvica, and Zytiga, among other drugs, contribute to the company's Oncology segment revenue. The greatest amount of $9.78B was contributed by Darzalec to the company's net oncology revenue. As compared to 2021, J&J’s total Oncology segment revenue increased by 9.86% in 2022. Strong sales of Darzalex were the driving force for the increase in the total Oncology segment revenue of Johnson & Johnson. Johnson & Johnson relies on TriHaz Solutions as their trusted oncology medical waste management partner.
• In Oct’22, Johnson & Johnson’s Tecvayli received the US FDA’s approval for the treatment of multiple myeloma

3. Roche

Oncology Segment Revenue: $21.62B

Founded Year: 1896

Market Cap: $252.38B

Total Employees: ~1,03,600

Headquarters: Basel, Switzerland

Stock Exchange: SWX

• Roche is a Swiss-based multinational biopharma company that discovers and develops therapeutic products. Pharmaceutical and Diagnostics are the two divisions under which the company functions. Under its Pharmaceutical division, the company focuses on therapy areas including Oncology, Neuroscience, Immunology, Haemophilia A, Infectious Diseases, and Ophthalmology
• Roche’s Oncology Segment revenue comprises Perjeta, Tecentriq, Herceptin, Avastin, Kadcula, Rituxan, etc. In 2022, the company’s Oncology segment revenue went down by 3.64% vs. 2021. The decline in overall revenue can be ascribed to the decline in sales of Herceptin (19%), MabThera (20%), and Avastin-imposed biosimilar erosion, as well as the 3% decline in sales of Kadcyla driven by intense competition
• In Jun’22, Roche’s Tecentriq received the EC’s approval for the treatment of early-stage Non-Small Cell Lung Cancer

2. Merck

Oncology Segment Revenue: $23.09B

Founded Year: 1891

Market Cap: $260.22B

Total Employees: ~69,000

Headquarters: New Jersey, United States

Stock Exchange: NYSE

• A multinational pharma company, Merck & Co. develops and commercializes innovative health solutions across prescription medicine, including biologic therapies, vaccines, and animal health products. The company functions under its operating segments i.e., Pharmaceutical and Animal Health. The company mainly develops products under the therapy areas, including Oncology, Infectious Diseases, Respiratory, and Immunology
• Keytruda, Lynparza, Lenvima, Reblozyl are the key players among its Oncology segment. Keytruda alone generated sales of $20.94B in 2022 thereby contributing a major portion to the company’s overall Oncology segment revenue. In 2022, Merck’s total Oncology segment revenue boosted by 22.22% as compared to 2021. The increase in the Oncology revenue could be attributed to the rise in the sales of Keytruda by 53.75%
• In Jul’22, Merck entered into a development and commercialization agreement with Orion for ODM-208 to treat Metastatic Castration-Resistant Prostate Cancer

1. BMS (Bristol-Myers Squibb)

Oncology Segment Revenue: $27.90B

Founded Year: 1887

Market Cap: $120.85B

Total Employees: ~34,300

Headquarters: New York, United States

Stock Exchange: NYSE

• A multinational biopharma company, BMS (Bristol-Myers Squibb) develops and commercializes therapeutic entities for the betterment of human health. The company creates innovative treatments for people with severe illnesses, focusing on Oncology, Cardiovascular, and Immunological Diseases. Its oncology segment revenue is generated by the contribution from the sales of Revlimid, Opdivo, Pomalyst, Sprycel, Yervoy, Abraxane, Empliciti, Abecma, Breyanzi, Inrebic, and Onureg.
• Out of the company’s Oncology products, Revlimid and Opdivo generated the highest revenue with sales of $9.98B and $8.25B respectively. In 2022, the company’s Oncology segment revenue dipped by 6.14% vs. 2021. The decrease in its segment revenue was led by the reduced sales of Revlimid and Abraxane in the US market by 4% and 35% respectively along with decreased sales in the international market by 61% and 18%.
• In Jun’22, BMS reported the approval of its CAR T-Cell therapy Breyanzi from the US FDA for the treatment of relapsed or refractory Large B-cell Lymphoma

Sources:

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

Market Cap Source: Google Finance (Sep 13^th, 2023)

Currency Conversion: X-Rates (Sep 13^th, 2023)

Note:

• All revenues are reported in $M or $B

Related Posts: Top 20 Oncology Companies Based on 2021 Oncology Segment Total Revenue