Top 10 Cancer Drug Companies of 2025

By Editorial Team -

Merck, Roche and Celgene (now part of Bristol-Myers Squibb) have remained prominent players, but the market dynamics have shifted significantly in recent years.

This increased competition is fueled by the success of blockbuster drugs like Keytruda (Merck), Tagrisso (AstraZeneca), and Ibrance (Pfizer), as well as the rapid adoption of immunotherapies and targeted treatments (Verified Market Reports).


Look at 2017. The trio of drugmakers together held a 45.8% share of the market, with longtime cancer leader Roche controlling 26.4% all on its own. In 2024, though, market intelligence firm EvaluatePharma expects to see much more parity. The top three’s share will shrink to 26.2%, with Roche’s dropping all the way down to 11.9%. And the No. 2 through No. 5 companies—BMS, Johnson & Johnson, Pfizer, AstraZeneca and Merck—will boast shares within less than a percentage point of one another.

And it won’t just be the heavy hitters clawing for a piece of the pie. That number is set to nearly double by 2024—swelling to 39.7%—thanks to big recent approvals for companies including Gilead Sciences, Eli Lilly, Tesaro, Clovis and more.

This democratization of the market reflects both the rising number of new cancer cases globally and the surge in research and development, particularly in targeted therapies and personalized medicine (Fact.MR).

The global anti-cancer drugs market is projected to reach nearly $199 billion in 2024, with targeted therapies accounting for the largest share at almost 59%. The field continues to see robust growth, driven by technological advances, a growing elderly population, and an increasing cancer burden worldwide (Fact.MR).

In summary, while Roche, Bristol-Myers Squibb (with Celgene), and other legacy leaders remain influential, the cancer drug market in 2024 is far more competitive and fragmented than in the past. The rise of new entrants, the success of innovative therapies, and shifting market shares are reshaping the landscape, making the fight for oncology leadership more intense than ever (Verified Market Reports, iHealthcareAnalyst).


1. Merck & Co.


  • 2024 cancer sales: $32.7 billlion
  • 2025 First-Quarter reported sales growth of -2% (compared to the same period in 2024) to USD $15.5 Billion
  • Rank change: None
  • Market capitalisation: 198.3 B USD (as of June 2025)

In 2024, Merck's oncology sales were a major driver of its pharmaceutical revenue, with cancer drug sales reaching approximately $32.7 billion. This includes Keytruda (pembrolizumab), Merck's flagship immuno-oncology therapy, which alone generated about $29.5 billion in sales, marking an 18% increase year-over-year. Other oncology products contributing to growth included Welireg, which saw a 133% increase to $509 million, and increased alliance revenues from Reblozyl and Lynparza. Overall, Merck's pharmaceutical sales grew 7% to $57.4 billion in 2024, with oncology being the primary growth area (1, 5, 6, 9).

As anyone who has been following the I-O (immuno-oncology) race knows, lung cancer is the most competitive field for the new generation of cancer fighters, and that’s because it represents a mammoth market—and financial opportunity. Currently, Keytruda leads rivals from Bristol-Myers, AstraZeneca, Roche and the Pfizer-Merck KGaA team in that department, boasting two approvals in the front-line setting to their collective zero.

Keytruda has also impressed in plenty of other cancer types, winning green lights in cancers including head and neck, cervical, lymphoma and more. Its indications across nine collective cancer types will all chip in sales that’ll contribute to its forthcoming leap.

Keytruda won’t be doing all the legwork on its own, though. Merck recently struck a pair of deals to gain access to two promising therapies that it hopes will come up big. Last July, it laid out $8.5 billion for half-ownership of AstraZeneca PARP inhibitor Lynparza, and it followed up this March with a $5.8 billion deal for a 50% stake in Eisai’s Lenvima.

Keytruda


Keytruda is the world's bestselling cancer drug by a large margin. (Merck & Co.)
Company: Merck & Co.
2024 sales: $29.5 billion

Diseases: Melanoma, non-small cell lung cancer, head and neck cancer, classical Hodgkin lymphoma, primary mediastinal large B-cell lymphoma, bladder cancer, microsatellite instability-high or mismatch repair deficient cancer, gastric cancer, esophageal cancer, cervical cancer, liver cancer, biliary tract cancer, Merkel cell carcinoma, kidney cancer, endometrial cancer, tumor mutational burden-high cancer, cutaneous squamous cell carcinoma, triple-negative breast cancer.

In 2024, Merck's Keytruda (pembrolizumab) achieved global sales of approximately $29.5 billion, representing an 18% increase compared to 2023. Excluding foreign exchange impacts, the growth was about 22%. Keytruda remained the world’s best-selling drug, with multiple FDA approvals in 2024 expanding its indications, including treatments for cervical and endometrial cancers (1, 2, 3, 4, 6).

After AbbVie's Humira lost U.S. market exclusivity and as demand for COVID vaccines plummeted at the end of the pandemic, Merck & Co.’s Keytruda was finally able to claim the title of the world’s bestselling medicine in 2023. But its reign may be short-lived. 

In 2023, Keytruda’s sales grew 21% at constant exchange rates, reaching $25 billion. At the same time, as GLP-1 diabetes and obesity drugs take the world by storm, Novo Nordisk’s semaglutide franchise—Rybelsus, Ozempic and Wegovy—together generated 145.8 billion Danish kroner ($21.1 billion). That marked a nearly 90% surge over 2022. 

The three semaglutide brands continued their seemingly unstoppable growth into 2024. Their first-quarter sales collectively jumped 48% year over year to 42.2 billion Danish kroner ($6.1 billion), inching even closer to Keytruda’s $6.9 billion haul, which represented a 20% increase over the same period last year. 

Keytruda is no doubt the world's bestselling cancer drug. The next oncology asset on our list, Bristol Myers Squibb and Ono Pharma’s rival PD-1 inhibitor Opdivo, generated $10 billion last year. Johnson & Johnson recorded $9.7 billion for its anti-CD38 multiple myeloma drug Darzalex. 

Keytruda scored two high-profile FDA approvals last year, although one of them wasn’t specifically about the PD-1 drug itself. 

In October, the FDA greenlighted Keytruda as part of a continued neoadjuvant-adjuvant therapy used around surgery in resectable non-small cell lung cancer, making it the first PD-1/L1 inhibitor regimen that’s used both before and after surgery. 

The approval was accompanied by phase 3 data from the KEYNOTE-671 trial showing that, compared with presurgical chemo alone, the addition of Keytruda around surgery significantly cut the risk of death by 28%. Despite perioperative Keytruda’s overall survival win, it remains unclear whether a checkpoint inhibitor is necessary both before and after surgery for all approved non-small cell lung cancer cases. The FDA has indicated it wants to tease out the exact contribution of each phase of treatment to the entire regimen. The ultimate length of treatment will affect Keytruda’s long-term sales potential.

In another major feat, a combination of Keytruda and Astellas and Pfizer’s Padcev won full FDA approval as a first-line treatment for advanced bladder cancer—regardless of the patient’s eligibility for chemotherapy. The approval came after the phase 3 EV-302 trial linked the Keytruda-Padcev combo to a 53% reduction in the risk of death compared with chemo. The results were welcomed with a standing ovation at the European Society for Medical Oncology meeting last year.

But the EV-302 readout was viewed as more of a success for Padcev and the antibody-drug conjugate modality, especially given Keytruda’s previous stumbles in first-line bladder cancer as a monotherapy and as part of a combination with traditional chemotherapy. Nevertheless, the EV-302 regimen speaks to Keytruda’s appeal as the combination partner of choice for newer drugs. Another candidate taking that approach is Moderna and Merck’s individualized cancer vaccine, mRNA-4157 (V940). The shot’s cocktail with Keytruda has drawn much interest because of its promising midphase data in resected melanoma.  

However, not all attempts to pair Keytruda up have been successful. Some of the notable failures include Keytruda’s combos with AstraZeneca-partnered Lynparza and Eisai-shared Lenvima.

As Keytruda is slated to fall off the patent cliff in 2028, Merck has been working on a subcutaneous version to potentially soften the blow. However, Merck is behind its rivals BMS and Roche in terms of developing more convenient injections of their PD-1/L1 offerings.

Update (May 2025): KEYTRUDA® (pembrolizumab) Plus Trodelvy® (sacituzumab govitecan-hziy) Reduced Risk of Disease Progression or Death by 35% Versus KEYTRUDA Plus Chemotherapy in First-Line PD-L1+ Metastatic Triple-Negative Breast Cancer (TNBC)

2. Roche

  • 2024 cancer sales: $26.9 billion
  • 2025 First-Quarter reported sales growth of 6% to USD $18.7 Billion (CHF 15.4 billion)
  • Rank change: None
  • ROCHE HOLDING AG Market Capitalisation: 305 B USD (as of June 2025)
New Roche Research Centre (trabantos/Getty Images)

Roche Holding AG is listed on the SIX Swiss Exchange, Switzerland's principal stock exchange, under the ticker symbol "ROG" for its non-voting equity securities and "RO.SW" for voting shares.

In 2024, Roche's cancer-related sales, encompassing oncology and hematology, totaled CHF 23.7 billion (approximately USD 26.9 billion). Within this, oncology sales reached CHF 15.8 billion (about USD 17.9 billion), while hematology sales were CHF 7.9 billion (around USD 9 billion). This represented a 7% increase at constant exchange rates compared to 2023. Roche's pharmaceutical division overall grew 8% to CHF 46.2 billion (approximately USD 52.5 billion), driven by key cancer drugs such as Phesgo and immuno-oncology therapies including Tecentriq, whose sales were flat at CHF 3.6 billion (USD 4 billion). The company also launched new cancer medicines like Itovebi for hard-to-treat breast cancer during the year, strengthening its oncology portfolio (1, 2, 4, 5).

The lead for the Swiss drugmaker, which has dominated the cancer landscape for years, is about to get a lot less commanding. 

One big part of Roche’s forthcoming sales stagnation? Biosimilar rivals, which are readying copies of older blockbusters Rituxan, Herceptin and Avastin. Those copycats are expected to roll out over the next few years, with some already on the market overseas.

To fill the void, Roche is looking in part to immuno-oncology product Tecentriq (checkpoint inhibitor), which currently bears approvals in lung cancer and bladder cancer. There’s just one problem: Its rivals do, too, and analysts say Roche’s data doesn’t seem to stack up to competitor Merck’s in the all-important front-line lung cancer market.

That’s not to say the drug can’t find other markets to control, and recently, trial wins have hinted that Tecentriq may just find some key niches. 

Roche is also looking to find new sales avenues for its older drugs through combinations. It’s paired Tecentriq and Avastin in areas such as lung cancer and liver cancer, and it won an FDA approval for a combination of Herceptin and newer breast cancer treatment Perjeta in postsurgery patients, despite data that analysts labeled “weak.”

Roche’s immuno-oncology business underwent some major changes in 2024. The Swiss pharma’s Genentech unit closed its cancer immunology research department and merged its function with molecular oncology research.

Then, a few months later, Roche said the closely watched Skyscraper-01 trial of its TIGIT antibody tiragolumab failed to show an overall survival benefit when combined with Tecentriq in first-line PD-L1-high non-small cell lung cancer, despite an earlier positive signal.

Given the importance of the indication, the trial failure pushed the entire TIGIT idea—once billed as the potential next big immune checkpoint target after PD-1/L1—ever closer to its graveyard. Bristol Myers Squibb, Merck & Co. and, most recently, BeiGene, have all ditched TIGIT, although Roche still has a few ongoing phase 3 trials that are fully enrolled.

Also in cancer immunotherapy, Roche last year struck a $1.5 billion deal to purchase its then-partner Poseida Therapeutics, giving the cell therapy field a much-needed injection of confidence. The deal brought to Roche an allogeneic cell therapy platform, which includes a gene editing tool that allows for the delivery of multiple CARs in a single step.

The Poseida buy also strengthened Roche’s flourishing hematology portfolio. Its hemophilia drug Hemlibra grew sales by 12% at constant exchange rates, reaching 4.5 billion Swiss francs last year. Diffuse large B-cell lymphoma (DLBCL) antibody-drug conjugate Polivy crossed the blockbuster threshold with 1.1 billion Swiss francs in 2024. Its two CD19xCD3 bispecifics, Columvi and Lunsumio, are anticipated to receive an FDA decision and a phase 3 readout, respectively, in second-line DLBCL this year.

Overall, Roche has successfully navigated the scary losses of exclusivity of its former top-selling cancer drugs—Avastin, Herceptin and Rituxan. In 2024, group sales went up 3% to about 60.5 billion Swiss francs, including 46.2 billion Swiss francs from the pharma division, which ginned up 4% year-over-year growth.

To fill in Herceptin’s shoes, Roche has put together a multi-asset plan in breast cancer. One of those assets, PI3K inhibitor Itovebi, cleared the FDA last year in certain PIK3CA-mutated HR-positive, HER2-negative breast cancer.

Roche also bought a portfolio of CDK (Cyclin-Dependent Kinase) inhibitors* from China’s Regor Pharmaceuticals last year for $850 million upfront. What’s more, two important phase 3 trials of the company’s oral SERD, giredestrant, could read out this year.

*CDK4/6 inhibitors are a class of medicines used to treat certain types of hormone receptor-positive, HER2-negative breast cancer.

3. Bristol-Myers Squibb

  • 2024 cancer sales: $24.8 billion
  • 2025 First-Quarter reported a total revenue of USD 11.2 B. 6% decrease year over year.
  • Rank change: None
  • Market Capitalisation: 98.5 B USD (as of June 2025)

Q4 & Full‑Year 2024 Highlights

  • Q4 2024 Cancer/Growth Portfolio (including oncology drugs like Opdivo, Breyanzi, Reblozyl, Pomalyst, Revlimid, Abecma etc.): $6.4 billion, up 21% year‑over‑year (9% adjusted for FX) (bms.com) 

  • Bristol Myers Squibb’s total oncology sales in 2024—covering its core cancer franchises including immuno-oncology, hematology, CAR‑T therapies, and targeted agents—amounted to approximately $24.8 billion (biospectrumasia.com).

  • Full‑Year 2024 Total Revenues: $48.3 billion, with core oncology products driving much of the year-over-year 7% (+9% Ex-FX) growth .

Legacy Celgene Products

Thanks to the 2019 acquisition of Celgene, BMS still earns from landmark cancer drugs:

  • Revlimid (multiple myeloma):

    • Q4 2024 revenue: $1.5 billion (down 36% YoY due to generics) 

    • Whole‑year impact included in legacy portfolio declines.

  • Pomalyst (multiple myeloma):

    • 2024 sales: $3.55 billion, about 7.3% of BMS’s total 2024 revenue, per a U.S. court filing 

  • Abecma (CAR-T therapy):

    • U.S. sales in 2024: $242 million; Q1 2025 momentum, aided by FDA expansion 

Other Key Oncology Drivers in 2024

  • Opdivo: Q4 revenue $2.387 billion (+8% YoY); full year ~ $[5.3 + 3.7 = ] $9 billion .

  • Breyanzi: Part of the growth portfolio—Q1 2025 alone saw $263 million (+146% YoY) 

  • Reblozyl, Camzyos, Sotyktu, etc., also contribute significantly to the cancer and growth mix. (bms.com)

Key Takeaways

  • BMS’s oncology/Growth Portfolio was a powerhouse in Q4 alone ($6.4B), growing impressively.

  • From legacy Celgene:

    • Pomalyst remains a strong earner at $3.55B in 2024.

    • Revlimid continues to decline following generic competition.

  • Emerging cancer therapies—such as Breyanzi, Reblozyl, Abecma—are fueling future growth.

See also Celgene below.

4. AstraZeneca


  • 2024 cancer sales: $22.35 billion
  • 2025 First-Quarter Revenue: US$13.6B (up 10% from 1Q 2024)
  • Rank change: +2
  • Market capitalisation: 225 B USD
In 2024, AstraZeneca's oncology sales reached approximately $22.35 billion, representing a 21% increase (24% at constant exchange rates) compared to the previous year. Oncology accounted for 41% of AstraZeneca's total revenue of $54.07 billion in 2024.Key cancer drugs driving this growth included:
  • Tagrisso, with sales increasing 20% year-over-year to $1.7 billion, primarily for EGFR-mutated non-small cell lung cancer (NSCLC).
  • Calquence, used in hematologic malignancies, grew 20% due to new approvals in lymphoma.
  • Enhertu, an antibody-drug conjugate, saw a remarkable 48% sales increase, reflecting rapid uptake in HER2-expressing cancers.
  • Lynparza, a PARP inhibitor for breast and prostate cancer, posted a 46% revenue surge following expanded indications.
Other oncology products contributing to sales growth included Zoladex, Imjudo, Truqap, and Orpathys. AstraZeneca also experienced some decline in Faslodex sales due to pricing and generic competition in certain markets.

Overall, AstraZeneca’s oncology segment showed strong momentum in 2024, supported by expanded indications, new patient adoption, and a robust pipeline of innovative cancer therapies. Oncology remained the largest contributor to the company’s revenue growth, underscoring its strategic focus on this therapeutic area (2, 4, 5, 6).

Perhaps no company has pushed more aggressively into oncology in recent years than AstraZeneca, and that push is set to bump the British drugmaker up on the list by two spots, Evaluate predicts—more than any other drugmaker in the top 10.

One drug that’ll help lead the charge? Imfinzi, AZ’s entrant in the PD-1/PD-L1 class of immuno-oncology products. The drug won a blockbuster nod in previously treated, stage 3 lung cancer, a sizable market that analysts think it’ll have to itself for years to come.

Just how much Imfinzi will be able to pitch in on AZ’s top line remains to be seen, though. Its future hinges on an ongoing trial in the all-important first-line lung cancer arena, where it so far hasn’t been able to show success.

AstraZeneca’s got plenty more going for it in oncology department, though—and it’s been quick to remind investors who are hyperfocused on I-O. For one, it boasts PARP inhibitor Lynparza, which brought in $269 million through the first six months of the year and is riding high on a new breast cancer approval.

Then there’s Tagrisso, a targeted lung cancer drug whose sales grew by 89% year-over-year in H1 to hit $760 million. It’s bolstered by a new indication in first-line EGFR-mutated lung cancer, where it this year became the new standard of care. The EGFR inhibitor king Tagrisso also managed a 13% sales growth to $6.6 billion with two new FDA approvals last year, one in combination with chemotherapy in first-line EGFR-mutated non-small cell lung cancer and the other for stage 3 EGFR lung cancer. But the drug is facing competition from Johnson & Johnson’s cocktail of Rybrevant and Lazcluze.

AZ is also counting on big things from Calquence, expected to challenge Johnson & Johnson and AbbVie juggernaut Imbruvica in blood cancers. While locked in a fierce competition with BeiGene’s rival BTK inhibitor Brukinsa, Calquence was included in the second round of IRA price negotiations.

Following mixed phase 3 data and an FDA resubmission, AZ and Daiichi have in January 2025 won the FDA’s go-ahead for their second ADC, TROP2-directed Datroway, in HR-positive, HER2-negative breast cancer.

5. Johnson & Johnson


  • 2024 cancer sales: $20.78 billion
  • 2025 First-Quarter reported sales growth of 2.4% to $21.9 Billion
  • Rank change: +1
  • Market Capitalisation: 373 B USD (as of June 2025)

In 2024, Johnson & Johnson's oncology sales reached approximately $20.78 billion, marking a 17.7% increase year-over-year. This growth was driven by strong performances from key cancer drugs including Darzalex (daratumumab), which alone generated $11.67 billion in sales (up 19.8%), and CAR-T therapy Carvykti, which nearly doubled to $963 million in sales with a 92.7% increase. Other notable oncology products contributing to growth were Erleada (apalutamide), Tecvayli (teclistamab), and Talvey (talquetamab), all focused on hematologic cancers such as multiple myeloma (5, 2, 3).

Johnson & Johnson may not have as wide an oncology portfolio as some of its rivals do, but the products it does have are rock-solid. 

J&J is also a force on the multiple myeloma side with TALVEY® (talquetamab-tgvs) and TECVAYLI® (teclistamab-cqyv).

Its Takeda-partnered Velcade long reigned supreme. The standby is still churning out big numbers—it amassed $1.11 billion in 2017 sales outside the U.S., where J&J markets the drug—but it too has a follow-up ready to lead a new generation of myeloma therapies. That’s Darzalex, which by last year had already generated more for the year than its predecessor at $1.24 billion.

Darzalex’s numbers are only set to keep growing, thanks to a landmark FDA green light in May. The agency gave the drug a go-ahead—in combination with Velcade and prednisone—in previously untreated patients who are transplant-ineligible, making Darzalex the first-ever monoclonal antibody to score an OK in newly diagnosed patients.

And then there’s powerhouse Imbruvica, which J&J has shared with AbbVie since the latter’s buyout of Pharmacyclics. That drug pulled in $1.89 billion last year, and a recent combo approval for patients with Waldenström macroglobulinemia should keep sales on the up and up. AstraZeneca, though, is mounting a challenge with Calquence, a drug that’s expected to eventually take on Imbruvica in chronic lymphocytic leukemia.

6. Celgene


  • 2024 cancer sales: $18.55 billion
  • Rank change: None
In 2024, Celgene’s cancer drug sales were approximately $18.55 billion. This figure reflects the company’s strong oncology portfolio, led notably by Revlimid, a blockbuster drug for multiple myeloma and other blood cancers. Despite controversies over pricing, Revlimid remains a major revenue driver for Celgene. The company ranks among the top oncology drugmakers globally, maintaining its position in the cancer drug market with significant sales growth compared to previous years ($11.65 billion in 2017 to $18.55 billion in 2024) (2).

Celgene’s oncology portfolio also includes other important therapies, and the company continues to focus on innovative cancer treatments and expanding its market presence worldwide (3).

Celgene Corporation, once a leading biopharmaceutical company focused on cancer and immune-inflammatory diseases and headquartered in Summit, New Jersey, was acquired by Bristol-Myers Squibb (BMS) in late 2019. Following the acquisition, Celgene became a wholly owned subsidiary of BMS, with its stock ceasing to trade and its portfolio integrated into BMS’s operations (1).

Revlimid: The Former Flagship

Revlimid (lenalidomide) long dominated Celgene’s—and now BMS’s—cancer portfolio, particularly in multiple myeloma. However, the landscape has shifted significantly. After reaching peak sales of $12.8 billion in 2021, Revlimid’s exclusivity expired, and generic competition has since entered the market. Teva launched the first U.S. generic in 2025, with several other companies following under volume-limited agreements. These deals gradually increase generic market share until all restrictions lift in 20263.

As a result, Revlimid’s revenue is in decline. BMS projected 2025 sales between $9.5 billion and $10 billion, but expects annual drops of $2 billion to $2.5 billion as generics gain ground3. In the first quarter of 2025, Revlimid generated $936 million, down 44% year-over-year54.

Portfolio Evolution and New Oncology Players

With Revlimid’s decline, BMS has shifted focus to other assets, both legacy Celgene drugs and newer therapies:

  • Pomalyst: Another multiple myeloma drug, Pomalyst, also faces generic competition in Europe as of August 2024, contributing to a 24% year-over-year decline in Q1 2025 U.S. sales ($658 million)54.

  • Idhifa: Developed with Agios, Idhifa remains a targeted therapy for relapsed/refractory acute myeloid leukemia (AML) patients with IDH2 mutations. While it was a first-in-class oral inhibitor for this group, its sales are now part of BMS’s broader hematology portfolio.

  • Vidaza: Vidaza, another AML therapy, continues to contribute but is now categorized among BMS’s mature brands4.

  • CAR-T Therapies: BMS has advanced CAR-T therapies, notably Breyanzi, which has become the leading CD19-directed CAR-T product in the U.S., driving growth in hematology4.

  • Reblozyl and Other New Launches: Reblozyl, approved for anemia in beta thalassemia and myelodysplastic syndromes, is now a key growth driver. Alongside it, recent launches such as Breyanzi and deucravacitinib are expected to generate $10–$13 billion in annual sales, offsetting losses from Revlimid’s patent expiry34.

Strategic Shifts and Financial Performance

BMS’s oncology and hematology portfolios are transitioning from legacy Celgene blockbusters to a mix of established and newly launched therapies. In Q1 2025, BMS’s growth portfolio outperformed its legacy products, reflecting this strategic shift4. The company is leveraging its broader pipeline and recent acquisitions to sustain growth despite the erosion of Revlimid and Pomalyst revenues (2, 4).

7. Astellas


  • 2024 cancer sales: $12.6 billion (astellas.com)
  • Market capitalisation: 17.46 B USD (as of June 2025)
In 2024, Astellas Pharma's cancer (oncology) sales were approximately ¥1,912.3 billion (about $12.6 billion), representing a 19.2% year-over-year increase in revenue. Key oncology drugs driving this growth included:
  • Xtandi (enzalutamide) for prostate cancer, which showed solid sales growth and remains a cornerstone of Astellas’ oncology portfolio.
  • Padcev (enfortumab vedotin) for metastatic urothelial cancer, with sales more than doubling (110% increase) to around ¥117 billion (~$767 million) in the last nine months of 2024.
  • Vyloy (zolbetuximab), a therapy for gastric and gastroesophageal junction cancers, which gained momentum due to faster adoption of Claudin 18.2 biomarker testing.
  • Xospata (gilteritinib) for acute myeloid leukemia and Izervay (avacincaptad pegol) also contributed to revenue growth.
Astellas’ oncology portfolio focuses on cancers such as prostate, bladder, gastric, and blood cancers. The company expects continued growth in oncology driven by these strategic brands, with further expansion anticipated in 2025.

To summarize, Astellas’ 2024 cancer sales were roughly $12.6 billion, fueled by strong performances from Xtandi, Padcev, Vyloy, and other oncology products, marking it as a significant player in the global oncology market.

8. Pfizer


  • 2024 cancer sales: $6 - 7 billion
  • 2025 First-Quarter reported sales growth of -8% (compared to the same period in 2024) to USD $13.7 Billion
  • Rank change: +1
  • Market Capitalisation: 132.75 B USD (as of June 2025)
Pfizer's projected cancer drug sales for 2024 are embedded within its broader oncology portfolio, including the recent acquisition of Seagen. Pfizer expects approximately $3.1 billion in revenues from Seagen products in 2024, which significantly strengthens its cancer drug portfolio. Additionally, Pfizer's oncology products excluding Comirnaty (COVID vaccine) and Paxlovid (COVID treatment) are expected to achieve operational revenue growth of 8% to 10% in 2024.Key oncology drugs contributing to this growth include:
  • Xtandi (enzalutamide), which saw a 24% operational revenue increase driven by expanded prostate cancer indications.
  • Lorbrena, a lung cancer drug, with $164 million in Q1 2024 sales and expected to surpass $1 billion annually by 2030.
  • Padcev, an antibody-drug conjugate for bladder cancer, with peak sales expected to exceed $3 billion.
  • Other Seagen oncology products contributing to the $3.1 billion revenue estimate.
While Pfizer does not disclose a single total figure exclusively for cancer drug sales, the combination of Seagen revenues and growth in existing oncology products suggests cancer drug sales in 2024 are likely in the range of $6 billion to $7 billion or more, considering the $3.1 billion from Seagen plus significant contributions from Xtandi, Lorbrena, Padcev, and others.Pfizer’s total revenues for 2024 were $63.6 billion, with oncology as a key growth driver, and the company aims to have at least eight blockbuster cancer drugs by 2030, reflecting its strong focus and investment in oncology (2, 3, 4, 5, 6).

Pfizer has plenty of drugs in its oncology stable, including a couple of brand-new ones. The problem? In some areas, its newer products are playing from behind.

Unfortunately for Pfizer, it can’t boast that kind of market lead in a lot of the fields where it competes. Take PD-1/PD-L1, for example: Bavencio, which it shares with Merck KGaA, was the fourth drug in the class, after Merck & Co.’s Keytruda, Bristol-Myers Squibb’s Opdivo and Roche’s Tecentriq. And while it was the first of the group to nab an OK in metastatic Merkel cell carcinoma, it’s still well behind its rivals in lung cancer, the largest market for I-O (Immuno-Oncology) drugs.

The lag is even more pronounced for Pfizer’s two newest oncology approvals, Vizimpro and Talzenna. Vizimpro, a once-failed targeted lung cancer drug for patients with EGFR mutations, is going up against Roche’s Tarceva, Boehringer Ingelheim’s Gilotrif and AstraZeneca’s Tagrisso. And Talzenna will have to work to gain traction in a PARP field that already features AZ and Merck’s Lynparza, Clovis Oncology’s Rubraca and Tesaro’s Zejula.

Pfizer has other drugs ready chip in with backup, though. Xalkori, though recently topped in trials by first-line ALK-positive lung cancer contenders, still put up $594 million in sales last year. And the prostate cancer therapy Xtandi, shared with Astellas, chipped in $590 million, and the two companies have plans for new uses. They're currently running a pair of trials in hormone-sensitive disease, one examining Xtandi’s effects on patients whose cancer has metastasized and one focusing on those whose cancer has yet to spread.

Meanwhile, kidney cancer giant Sutent is still turning out blockbuster numbers, and follow-up Inlyta could soon see more play, thanks to new immuno-oncology combos for the disease.

A significant change to Pfizer’s 2024 revenue was new earnings from its $43 billion Seagen buyout, which wrapped up at the end of 2023 and added four established oncology drugs and a major pipeline upgrade. In reporting its 2024 revenue, the company opted to retroactively add sales from the Seagen medicines to its 2023 bottom line, reflecting a more accurate growth rate in comparing the two years.

With Seagen’s products and the $3.4 billion they earned included, the New York-based drugmaker's revenues had a 7% growth spurt. 

9. AbbVie


  • 2024 cancer sales: $6.7 billion
  • 2025 First-Quarter Revenue: US$13.3B (up 8.4% from 1Q 2024).
  • Market capitalisation: 335.3 B USD (as of June 2025)
In 2024, AbbVie’s oncology (cancer) portfolio generated approximately $6.7 billion in global net revenues. This includes key cancer drugs such as Imbruvica and Venclexta, which together account for more than two-thirds of AbbVie’s oncology revenue. Specifically, in the first quarter of 2024, AbbVie reported oncology sales of $1.543 billion, reflecting a 9.0% increase year-over-year (2, 6) .AbbVie’s total net revenues in 2024 were about $56.7 billion, with immunology and oncology as major contributors. While immunology drugs like Skyrizi and Rinvoq showed strong growth, oncology remained a significant segment supported by the company's hematology and cancer therapies (1, 5).To summarize, AbbVie’s 2024 cancer sales were around $6.7 billion, driven mainly by Imbruvica, Venclexta, and other oncology products, with steady growth in the oncology portfolio throughout the year.

10. Novartis


  • 2024 cancer sales: $5 - 6 billion
  • 2025 First-Quarter Revenue: US$13.2B (up 12% from 1Q 2024)
  • Rank change: -4
  • Market capitalisation: 251.8 B USD (as of June 2025)
In 2024, Novartis’ cancer-related sales were driven primarily by its oncology portfolio, with key products showing strong growth. Notably:
  • Kisqali, a targeted therapy for breast cancer, delivered approximately $3.6 billion in full-year sales (extrapolated from $902 million in Q4 with 52% year-over-year growth), reflecting robust adoption in early and metastatic breast cancer.
  • Pluvicto, a radioligand therapy for prostate cancer, generated about $1.4 billion in sales (based on $351 million in Q4 with 28% growth), though it faced some challenges in meeting analyst expectations.
  • Scemblix, a tyrosine kinase inhibitor for Philadelphia chromosome-positive chronic myeloid leukemia, received FDA accelerated approval in 2024, contributing to Novartis’ hematologic oncology portfolio.
  • Other oncology products such as Leqvio and Fabhalta also contributed to growth, with Fabhalta under priority FDA review for rare kidney disease but relevant to hematologic conditions.
Overall, Novartis’ total net sales in 2024 were approximately $50.3 billion, with oncology representing a significant and growing segment. The company reported 12% net sales growth at constant currency, driven by oncology alongside cardiovascular and immunology therapies. Novartis continues to focus on expanding its oncology pipeline and market reach, expecting mid- to high-single-digit sales growth in 2025.Thus, Novartis’ 2024 cancer sales likely approached around $5 billion to $6 billion, led by Kisqali and Pluvicto as flagship oncology products, supported by recent approvals and strong clinical adoption (2, 4, 5, 6, 7).

Novartis planned to “optimize” the Tafinlar and Mekinist launches, "positioning Novartis as the leader in treating melanoma," it said in a statement at the time.

That, of course, was before Merck’s Keytruda and Bristol-Myers Squibb’s Opdivo came along. Both immuno-oncology drugs, now blockbusters, got their start in melanoma before moving into a slew of other indications, and their makers have worked hard to move them earlier into treatment and test them as part of combo regimens.

Since then, Gleevec copies have launched, too, taking a big chunk out of the company’s oncology sales.

That’s not to say Novartis’ cancer sales won’t be growing between now and 2024. They will, thanks in part to the company’s CAR-T therapy Kymriah, which is expected to eventually make a splash, despite early manufacturing woes. Zykadia should be making bigger top-line contributions down the line too, thanks to last year’s front-line ALK+ lung cancer approval.

Novartis is also hoping to get Kisqali going; the HR-positive, HER2-negative breast cancer drug, which competes with Pfizer’s Ibrance and Eli Lilly’s Verzenio, is off to a slower-than-expected start.

In a key approval last year, Kisqali expanded into the adjuvant treatment of certain early-stage HR-positive, HER2-negative breast cancers. The new label gives Kisqali an edge over Eli Lilly’s Verzenio by covering patients who don’t have cancer cells in their lymph nodes.

By Novartis’ projection, the broad adjuvant nod could lift Kisqali to more than $8 billion in peak sales, versus the $3.2 billion the CDK4/6 inhibitor generated in 2024 mainly from metastatic disease use.

While potential significant growth still lies ahead for Kisqali, the good days of Entresto may be numbered, as Novartis expects the heart failure combo medication will lose U.S. market exclusivity in the coming months. Besides, even if no generics entered this year, Entresto is subject to a price cut under the Inflation Reduction Act beginning in 2026.

Despite the looming Entresto patent cliff, Novartis still expects 2025 sales to grow by mid- to high-single-digit percentages.

From the Medicare Part D reforms, Novartis expects a “modest headwind,” with the biggest impact to come from coverage for the catastrophic phase for Cosentyx and Kisqali in 2025, CEO Vas Narasimhan said during the company’s fourth-quarter earnings call. As to the policies’ potential impact on Novartis’ midterm performance as outlined above, Narasimhan said he’s “very comfortable” with Novartis’ modeling, which takes “appropriately conservative assumptions.”

In two other major expansions for Novartis last year, the FDA granted accelerated approvals to Scemblix in newly diagnosed chronic myeloid leukemia and Fabhalta in the kidney disease immunoglobulin A nephropathy. For both drugs, Novartis has outlined peak sales potential at above $3 billion.

Another potential multibillion-dollar asset, radioligand therapy Pluvicto, also delivered good news for Novartis. With a favorable final overall survival analysis last year from a phase 3 trial, the FDA has in March 2025 approved the PSMA-targeted therapy for metastatic castration-resistant prostate cancer before chemotherapy.

Novartis last year beefed up its radiopharmaceuticals capabilities with the $1 billion upfront acquisition of Mariana Oncology. While Pluvicto uses lutetium as the active substance, Mariana was focused on actinium.



Top 10 pharmaceutical companies by revenue in 2024


Top 10 most anticipated drug launches of 2025

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