Dunleavy, Fierce Pharma Senior Staff Writer, 23
[Kevin, 10-3-23, Fierce Pharma, “With Novo Nordisk, Eli Lilly and AstraZeneca leading the way, Big Pharma's sales will grow 4% annually through 2030: analysts,” https://www.fiercepharma.com/pharma/novo-nordisk-eli-lilly-and-astrazenca-leading-way-industry-sales-will-grow-4-annually, accessed 7-16-24] nikoglenn
Despite patent expirations that will weigh heavy later in the decade, the pharma industry is on course for solid growth in both sales and earnings, according to analysts at TD Cowen.
Cumulatively, the analysts expect Big Pharma's sales to grow at 4% annually and earnings per share to grow at 7% annually. The projections cover more than a dozen leading drug companies and extend from 2023 to 2030.
Companies leading the charge in sales growth are of little surprise. Manufacturers of game-changing GLP-1 weight loss products Eli Lilly and Novo Nordisk will enjoy compounded annual revenue growth of 11% and 9%, respectively, according to the analysts.
The projections come along with Cowen's Q3 Pharma Pulse report. Analysts Steve Scala, Michael Nedelcovych, Ph.D., and Chris LoBianco previously forecast sales and EPS through 2027.
For the 2030 projections, the team notes that its cumulative sales growth forecast is unchanged from the prior review. The new profit forecast came in slightly higher than the team's 2022-27 projection.