Abstract
Patent expiries, tightening healthcare budgets and a stricter regulatory climate in the aftermath of the Vioxx withdrawal presented major challenges to the pharmaceutical industry in 2006. These tougher operating conditions may partly explain why companies that are less reliant on pharmaceuticals seem to have performed so well last year. Johnson & Johnson, which only has 43% of its revenue coming from pharmaceuticals, for example, toppled Pfizer from its position at the top of the total revenue table for 2006.
The tough operating conditions can also be seen reflected in the general wave of industry restructuring among generics and speciality pharma companies. Among the generics players, consolidation changed the landscape quite dramatically last year with Watson Pharmaceuticals acquiring Andrx to become the third largest player in the US market, Barr Pharmaceuticals (formerly known as Barr Laboratories) acquiring the Croatian firm Pliva, and a number of smaller acquisitions by Indian companies, Dr Reddy' s and Ranbaxy Laboratories.
A similar story can be seen in Europe. In Germany, for example, Bayer beat Merck KGaA to acquire Schering AG. Merck KGaA, meanwhile, went on to absorb Europe' s largest biotech company, Serono, into its business. Other European deals included Danish Nycomed' s surprise acquisition of Altana Pharma at the very end of the year, and the purchase by Belgium' s UCB of Schwarz Pharma.
Biotech companies also saw considerable movement with, among other deals, Crucell acquiring Berna Biotech for $476 million and Genzyme acquiring Anormed for $584 million.
Mergers among the top players are rare these days, if only because there are so few potential partners. There was one major acquisition in 2006 (when Schering AG became part of Bayer) although in Japan, traditionally so averse to mergers, Dainippon Sumitomo Pharma was created from Dainippon Pharmaceutical and Sumitomo Pharmaceuticals at the very end of 2005.
A fair number of interesting smaller companies were bought by the larger players in a bid to replenish their pipelines. Last year saw Pfizer buy Powdermed and Rinat Neuroscience, for example. Merck & Co acquired Abmaxis, Glycofi and Sirna Therapeutics; Astrazeneca bought Cambridge Antibody Technology; Novartis bought Neutec Pharma; Abbott Laboratories acquired Kos Pharmaceuticals, and Lilly extended its long-standing research partnership with Icos by bringing it into the fold.
Table of Contents
CHAPTER 1 METHODOLGY AND DEFINITIONS
- 1.1 What are Scrip' s Pharmaceutical Company League Tables?
- 1.2 How is the data collected?
CHAPTER 2 LEADING COMPANIES RANKED BY TOTAL REVENUE
- 2.1 Commentary
CHAPTER 3 LEADING COMPANIES RANKED BY GROWTH IN TOTAL REVENUE
- 3.1 Commentary
CHAPTER 4 LEADING COMPANIES RANKED BY TOTAL SALES
- 4.1 Commentary
CHAPTER 5 LEADING COMPANIES RANKED BY PHARMACEUTICAL SALES
- 5.1 Commentary
CHAPTER 6 LEADING COMPANIES RANKED BY SHARE OF THE PHARMACEUTICAL MARKET
- 6.1 Commentary
CHAPTER 7 LEADING COMPANIES RANKED BY TOTAL OPERTAING PROFIT
- 7.1 Commentary
CHAPTER 8 LEADING COMPANIES RANKED BY TOTAL OPERATING PROFIT MARGIN
- 8.1 Commentary
CHAPTER 9 LEADING COMPANIES RANKED BY NET PROFIT
- 9.1 Commentary
CHAPTER 10 LEADING COMPANIES RANKED BY EARNINGS PER SHARE
- 10.1 Commentary
CHAPTER 11 LEADING COMPANIES RANKED BY INCOME PER EMPLOYEE
- 11.1 Commentary
CHAPTER 12 LEADING COMPANIES RANKED BY PHARMACEUTICAL OPERATING PROFIT
- 12.1 Commentary
CHAPTER 13 LEADING COMPANIES RANKED BY PHARMACEUTICAL OPERATING PROFIT MARGIN
- 13.1 Commentary
CHAPTER 14 LEADING COMPANIES RANKED BY TOTAL R&D EXPENDITURE
- 14.1 Commentary
CHAPTER 15 LEADING COMPANIES RANKED BY TOTAL R&D EXPENDITURE AS
- A PERCENTAGE OF TOTAL SALES
- 15.1 Commentary
CHAPTER 16 LEADING COMPANIES RANKED BY TOTAL R&D EXPENDITURE AS A PERCENTAGE OF TOTAL REVENUE
- 16.1 Commentary
CHAPTER 17 LEADING COMPANIES RANKED BY PHARMACEUTICAL R&D EXPENDITURE
- 17.1 Commentary
CHAPTER 18 LEADING COMPANIES RANKED BY TOTAL CAPITAL EXPENDITURE
- 18.1 Commentary
CHAPTER 19 LEADING COMPANIES RANKED BY SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
- 19.1 Commentary
CHAPTER 20 LEADING COMPANIES RANKED BY TOTAL ASSETS
- 20.1 Commentary
CHAPTER 21 LEADING COMPANIES RANKED BY CURRENT ASSETS
- 21.1 Commentary
CHAPTER 22 LEADING COMPANIES RANKED BY WORKING CAPITAL
- 22.1 Commentary
CHAPTER 23 LEADING COMPANIES RANKED BY PHARMACEUTICAL ASSETS
- 23.1 Commentary
CHAPTER 24 LEADING BIOTECHNOLOGY COMPANIES RANKED BY TOTAL REVENUE
- 24.1 Commentary
CHAPTER 25 LEADING BIOTECHNOLOGY COMPANIES RANKED BY R&D EXPENDITURE
- 25.1 Commentary
CHAPTER 26 LEADING BIOTECHNOLOGY COMPANIES RANKED BY R&D EXPENDITURE AS A PERCENTAGE OF TOTAL REVENUE
- 26.1 Commentary
APPENDIX 1 EXCHANGE RATES 2005 AND 2006
APPENDIX 2 MERGERS & ACQUISITIONS OF NOTE
LIST OF TABLES
- Table 2.1 Leading Companies Ranked by Total Revenue
- Table 3.1 Leading Companies Ranked by Growth in Total Revenue
- Table 4.1 Leading Companies Ranked by Total Sales
- Table 5.1 Leading Companies Ranked by Pharmaceutical Sales
- Table 6.1 Leading Companies Ranked by Share of the Pharmaceutical Market
- Table 7.1 Leading Companies Ranked by Total Operating Profit
- Table 8.1 Leading Companies Ranked by Total Operating Profit Margin
- Table 9.1 Leading Companies Ranked by Net Profit
- Table 10.1 Leading Companies Ranked by Earnings per Share
- Table 11.1 Leading Companies Ranked by Income per Employee
- Table 12.1 Leading Companies Ranked by Pharmaceutical Operating Profit
- Table 13.1 Leading Companies Ranked by Pharmaceutical Operating Profit Margin
- Table 14.1 Leading Companies Ranked by Total R&D Expenditure
- Table 15.1 Leading Companies Ranked by Total R&D Expenditure as a Percentage of Total Sales
- Table 16.1 Leading Companies Ranked by Total R&D Expenditure as a Percentage of Total Revenue
- Table 17.1 Leading Companies Ranked by Pharmaceutical R&D Expenditure
- Table 18.1 Leading Companies Ranked by Total Capital Expenditure
- Table 19.1 Leading Companies Ranked by Selling, General and Administrative (SG&A) Expenses
- Table 20.1 Leading Companies Ranked by Total Assets
- Table 21.1 Leading Companies Ranked by Current Assets
- Table 22.1 Leading Companies Ranked by Working Capital
- Table 23.1 Leading Companies Ranked by Pharmaceutical Assets
- Table 24.1 Leading Biotechnology Companies Ranked by Total Revenue
- Table 25.1 Leading Biotechnology Companies Ranked by R&D Expenditure
- Table 26.1 Leading Biotechnology Companies Ranked by R&D Expenditure as a Percentage of Total Revenue
