Biologic drugs will lead European pharmas to surpass US counterparts in sales
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Biologic drugs, among the most expensive medications that are often used in treating cancer and rare diseases, will propel European pharmaceutical companies to achieve more in sales than their US counterparts.
By 2028, three of the top five pharma companies in terms of sales will be Europe based, according to analytics and consulting firm GlobalData. They are Roche (OTCQX:RHHBY), Sanofi (SNY), and AstraZeneca (AZN).
The other two are Merck (NYSE:MRK) and Johnson & Johnson (NYSE:JNJ).
In 2028, Roche (OTCQX:RHHBF) and Sanofi (SNY), are projected to be, respectively, the No. 1 and No. 2 top drugmakers in terms of global sales. Merck (MRK) is projected at No. 3.
Currently, Pfizer (NYSE:PFE) is by far the biggest drugmaker in terms of sales, followed by, respectively, Johnson & Johnson (JNJ) and Roche (OTCQX:RHHBF).
Pfizer (PFE) is currently projected as the only top 10 pharma to have lower revenue in 2028 compared to 2023, largely a result of declining sales of its COVID vaccine and antiviral, Paxlovid, as well as upcoming generic competition on several of its medicines. 

GlobalData sees sales of biologics growing by 39% growth between 2023 and 2028, more than the estimated 24% growth rate in overall drug sales.
Roche (OTCQX:RHHBY), the report said, will be aided in particular in 2028 by two biologics, Tecentriq (atezolizumab), which is approved for several types of cancer, including lung and liver, and Ocrevus (ocrelizumab) for multiple sclerosis. They are expected to generate revenue of, respectively, $7.7B and $9.2B.
In 2022, Tecentriq and Ocrevus -- the latter Roche's (OTCPK:RHHVF) best selling therapy -- achieved worldwide sales of, respectively ~$4.1B and ~$6.7B.
Although Novo Nordisk (NVO) ranks No. 10 on GlobalData's list of top pharmaceutical companies by sales in 2028, it will see the highest growth rates among global pharmas -- 62% between 2023 and 2028.
This will be spurred by sales of its diabetes and weight loss drugs, in particular, Ozempic (semaglutide injection), Rybelsus (semaglutide tablet), and Wegovy (semaglutide injection).
GlobalData projects total sales of these three therapies of $154.1B between 2023 and 2028.