The Consumer Advisor

Only one of the top 10 drugmakers, Eli Lilly, is expected to achieve a double-digit revenue increase by the end of 2025. Eli Lilly is projecting a robust growth of around 32% in 2025 compared to 2024, driven by strong sales of its diabetes and weight-loss drugs such as Mounjaro and Zepbound, with full-year revenue guidance between $58 billion and $61 billion ( 1 ,  2 ,  3 ). In contrast, most of the other top 10 pharmaceutical companies are expected to see more moderate revenue growth, generally in the range of 6% to 9% by the end of 2025. This reflects steady but less dramatic expansion compared to Eli Lilly’s exceptional performance ( 4 ). Lilly—boosted by sales of its diabetes and obesity drugs Moujaro and Zepbound— projects  its sales to fall between $58 billion and $61 billion. At the midpoint of the projection, it would be a 32% increase, matching the sales boom it saw last year. Meanwhile, Novo—which also has been powered by sales of its diabetes and obesity treatm...

The pharmaceutical market in 2025 continues to be led by innovative therapies addressing cancer, metabolic diseases, autoimmune conditions, and chronic illnesses. Below is an updated overview of the top 10 drugs by projected global sales in 2025. Highlights and Market Trends Keytruda (Pembrolizumab) remains the global leader in drug sales with projected revenues exceeding $31 billion in 2025. This cancer immunotherapy has expanded to over 40 approved indications since its launch in 2014, including multiple cancer types, driving strong sales growth. Merck reported $21.6 billion in sales for the first three quarters of 2024, an 18% increase year-on-year ( 2 ,  5 ,  7 ) . GLP-1 receptor agonists dominate the metabolic therapy segment with four drugs in the top 10: Ozempic and Wegovy (both semaglutide-based), Mounjaro and Zepbound (tirzepatide-based). These drugs are primarily used for type 2 diabetes and obesity management, reflecting the growing global focus on metabolic di...

In 2024, the pharmaceutical industry witnessed significant shifts in research and development (R&D) investments, with companies like Merck & Co. and AstraZeneca making notable strategic decisions that impacted their positions among top R&D spenders. The average cost for major pharmaceutical companies to develop a drug in 2024 rose to $2.23 billion, up from $2.12 billion the previous year. This increase reflects the growing complexity and expense associated with bringing new therapies to market. ​( Fierce Biotech ) These developments illustrate the dynamic nature of R&D investments in the pharmaceutical sector, influenced by strategic partnerships, acquisitions, and the escalating costs of drug development. 1. Merck & Co. R&D SPENDING 2024: $17.9 billion Change from 2023: -41% Total 2024 revenue: $64.2 billion R&D budget as percentage of revenue: 28% Market capitalisation: 198.3 B USD (as of June 2025) Merck & Co.’s R&D spending plummeted from the d...