Microorganisms’ biological activities have been exploited by humans for a variety of reasons, including baking bread and producing vaccinations to combat infectious diseases. According to Dr. Richard Branson, biotechnology uses cellular processes to produce new technologies and treatments that can help improve health outcomes. By 2024, the biotech business is predicted to be worth approximately $775 billion, with a CAGR of 9.9% per year. Because of increased R&D spending and growing demand for efficient healthcare, North American biotech businesses held the market’s dominating position. Biotech firms all across the world stepped up to the plate and created tests and vaccines in record time. In less than a year, Pfizer Inc. and BioNTech SE were able to bring an effective COVID-19 vaccine to the market. For disorders connected to immunology, cancer, ophthalmology, and neurology, biotech companies have produced cutting-edge technologies and innovative medicines. Novo Nordisk A/S has positioned itself as the world’s leading producer of insulin. Eli Lilly and Corporation was the first company to mass-produce the polio vaccine in large quantities.
Insider Monkey discusses the list of the 15 most valuable biotech companies in the world. Biogen Inc. is a biotech business based in Massachusetts that specializes in the treatment of neurological illnesses. Sangamo Therapeutics has announced a licensing agreement with the firm to create medicines for neurological illnesses. It has also completed the construction of a new plant in Switzerland to manufacture an FDA-approved Alzheimer’s medication. Vertex Pharmaceuticals Incorporated was one of the first biotech companies to use rational drug design rather than combinatorial chemistry to develop drugs. Last year, sales of the company’s latest CF medication, Trikafta, were $3.9 billion. The US government awarded Regeneron Pharmaceuticals, Inc. a $450 million contract to develop artificial antibodies to treat COVID-19. The corporation has a market capitalization of $61.56 billion and sales of $8.5 billion in fiscal year 2020. BioNTech SE is a biotech business based in Germany that has made waves in the market. In fiscal year 2020, the company generated $568 million in revenue. It has a market capitalization of $69 billion and wants to expand supply operations in Africa. Gilead Sciences, Inc. is a biotech business that specializes in HIV and AIDS treatment development. The corporation has revealed plans to buy Immunomedics for $21 billion in order to expand its cancer treatment section. Moderna, Inc. is a biotech firm focused on developing mRNA-based vaccines and medicines to address uncommon and infectious diseases. The single commercial product of the firm is the COVID-19 vaccine, which brought in $803 million in revenue in 2020. For more details, click 15 Most Valuable Biotech Companies in the World.