Whilst we’re just past the halfway mark of 2024, mid-year analysis of the top selling drugs for the top 10 pharma companies provides some interesting insights into the demands of the market so far this year. Analysis from PharmaVoice shows that the leading drugs have generated over $55bn in revenue so far - just over 20% of the combined total revenue generated ($243.3bn) by the companies featured.

1. Eli Lilly - Mounjaro ($4.9bn)

2. Novo Nordisk - Ozempic ($8.3bn)

3. Johnson & Johnson - Darzalex ($5.6bn)

4. AbbVie - Humira ($5.1bn)

5. Merck & Co. - Keytruda ($14.2bn)

6. Roche - Ocrevus ($4bn)

7. AstraZeneca - Farxiga ($3.8bn)

8. Novartis - Entresto ($3.8bn)

9. Amgen - Prolia ($2.2bn)

10. Pfizer - Eliquis ($3.9bn)

Unsurprisingly, GLP-1 receptor agonists feature in the list of the top 10 drugs - Eli Lilly’s Mounjaro ($4.9bn) and Novo Nordisk’s Ozempic ($8.3bn). Although the drugs were designed primarily for managing type 2 diabetes and obesity, their popularity for weight loss and chronic disease management has further driven revenue. Also included in the list is AstraZeneca’s Farxiga – also for the treatment of diabetes but utilizing SGLT2 inhibitors instead.

Elsewhere, oncology remains highly competitive, featuring immunotherapies and combination therapies in the form of Johnson & Johnson’s Darzalex, Merck’s Keytruda and AbbVie's Humira. However, with high demand, big pharma is facing the threat of biosimilar drugs, as demonstrated with a 32% decrease in sales of Humira, compared to the same period last year. Developing new drugs with novel mechanisms of action and personalized treatment responses are likely to be the future for big pharma as they fight off the rise in biosimilars.

Continuing Shifts in Industry Dynamics

The industry continues to see significant shifts caused by ever-changing market demands and continuing regulatory updates. Competition in the GLP-1 space continues to increase, as does the rise of low-cost biosimilars. For the latter, this may hinder revenue growth for the companies listed above, but provides plenty of opportunities for smaller players, whilst providing greater options for patients with lower overall costs.

It’s easy to focus on the momentum of GLP-1 and biosimilars, but looking back to the COVID-19 pandemic highlights just how quickly market demand can change. While demand for vaccine development has significantly dropped off, a global commitment to broader infectious disease preparedness will likely offer longer term opportunities for all involved.