Who are the top 10 oncology companies in the world? (2024)

In 2022, there were an estimated 20 million new cancer cases worldwide. Researchers have forecasted that the number of patients affected by cancer will continue to rise as we move into the future, with a projected 35 million cases for 2050. With an aging population, improved awareness and innovative new detection tools, we are better equipped than ever before to diagnose cancer cases, which has seen the disease become one of the largest global health challenges in the 21st century. With the growing need for effective cancer treatments, top oncology companies across the globe continue to develop new and improved drugs and medical technologies. In 2023 alone, over 2,000 new oncology trials were started and 25 novel active substances launched globally, amounting to a total of 193 new treatments for cancer in the last decade.

Global spending on cancer medicines increased from US$198B in 2022 to US$223B in 2023 and is expected to reach US$409B by 2028. As we see the rise in cancer patients and the need for new drugs, this figure is set to rise significantly through to 2050.

The below list of the top 10 biggest oncology pharma companies in the world is ranked by 2023 revenue for oncology drugs only.

Top 10 Oncology drug companies globally

10. Astellas

Sales from oncology drugs: $5.83 billion

Astellas was established in 2005 after a merger of two pharmaceutical companies. The Japanese multinational pharma company discovers, develops and commercialises a wide range of pharmaceutical products. Its focus is on haematology, immunology, infectious diseases, oncology, cardiology and urology.

When it comes to oncology, Astellas largely focuses on lung, bladder, pancreatic and prostate cancers. Its oncology revenue is made up from sales of the cancer drugs Xtandi, Padcev, Xospata, and Evrenzo. Together, they contribute $4.97B to Astella’s overall oncology revenue. Notably, the patent for Xtandi is shared with Pfizer, helping the company make headway in the prostate cancer market, despite competition from Johnson & Johnson’s Zytiga.

9. Eli Lilly

Sales from oncology drugs: $6,658bn

Eli Lilly is a pharmaceutical company headquartered in Indianapolis, United States of America, founded nearly 150 years ago with a mission to help solve some of the world’s most significant health challenges. They have become a global manufacturer, supplying medicines in 125 different countries around the world. Their main areas of focus include Alzheimer's, pain, immunology, diabetes, obesity and oncology treatments.

The pharmaceutical giant started developing oncology drugs in 1961 with the invention of Velban, a drug used to treat multiple types of cancer. Now, they have a diverse range of oncology drugs such as Alimta, Cyramza, Erbitux, Gemzar, Jaypirca, Portrazza, Retevmo and Verzenio. With the company having a global presence in seven different countries across Europe and North America, they have an impressive pipeline in oncology amongst other areas of medicine.

8. AbbVie

Sales from oncology drugs: $8.47 billion

AbbVie is a research-based pharmaceutical company headquartered in Chicago, United States of America, it is dedicated to discovering and developing medicines to cure difficult-to-treat medical illnesses. Its key therapy areas span across neuroscience, immunology, eye care, oncology, gastroenterology, virology, and women’s health. AbbVie’s history began in 2013, when it separated from the pharmaceutical giant Abbott Laboratories and is now one of the top oncology pharma companies.

In 2015, AbbVie bought a share of the Johnson & Johnson cancer drug Imbruvica for $21B. Since then, AbbieVie has been committed to promoting its other cancer drugs, including Venclexta, a rival to Roche’s chronic lymphocytic leukemia drug, Rituxan. Both, Imbruvica and Venclexta, are responsible for more than two-thirds of AbbieVie’s oncology revenue.

7. Novartis

Sales from oncology drugs: $9.72 billion

Novartis is a Swiss-based, multinational pharmaceutical company that develops and commercialises breakthrough therapies. It is one of the biggest pharma companies in the world and consistently ranks highly among the top oncology companies. It mostly focuses its efforts on hepatology, muscoskeletal diseases, neuroscience, ophthalmology, dermatology, and oncology since it was established in 1996.

With a presence in over 150 countries across the globe, it creates and develops innovative treatments, including gene therapies and biosimilar medicines. The oncology segment of the business produces cancer drugs including Mekinist, Promacta, Tasigna, Tafinlar, Jakavi, Kisqali, and Kymriah. In the future, it hopes to bring its breast cancer drug Kisqali to market to compete with similar treatments like Ibrance (Pfizer) and Verzenio (Eli Lilly).

6. Merck & Co

Sales from oncology drugs: $14.71 billion

Merck & Co are an American multinational pharmaceutical company that develops and commercialises innovative medical health treatments across prescription medicine. Since the company was founded in 1891, it has developed a variety of treatments, ranging from biologic therapies, vaccines to animal health products.

Most of Merck & Co’s success in the oncology market is attributed to Keytruda, the leading oncology drug used to treat 17 types of cancer, including early-stage and advanced cancers. Despite Keytruda’s patent expiring in 2028, Merck and Co have set up a comprehensive pipeline to help offset any decline in revenue.

5. AstraZeneca

Sales from oncology drugs: $13.73 billion

The British-Swedish biopharma giant AstraZeneca has been known for developing innovative medicines since 1999. It focuses on creating treatments in cardiology, gastrointestinal infections, inflammation, and oncology. In recent years, the company has aggressively pushed into the oncology market to get a spot amongst the top oncology companies.

AstraZeneca’s best-selling oncology drugs include Tagrisso, Imfinzi, Orpathys and Iressa for non-small cell lung cancers and Zoladex and Casodex for prostate cancers. Additionally, they also have well-known drugs such as Enhertu, Faslodex and Arimidex that help treat prostate cancers as well as Calquence for mantle cell lymphoma. The future looks bright for AstraZeneca; the approval of Calquence, a drug that could rival similar products from Johnson & Johnson and AbbVie.

4. Pfizer

Sales from oncology drugs: $14.03 billion

Established in 1849, Pfizer is a top American multinational oncology company. The company’s main areas of focus are on immunology, cardiology and oncology. Pfizer is also known for its development of a Covid-19 MRNA vaccine that has helped millions of people across the globe and has provided hope for potential oncology vaccines using the same technology.

The pharmaceutical giant’s oncology division distributes successful cancer drugs such as Ibrance, Xtandi, Inlyta, Zirabev, and Xalkori. Ibrance is its highest grossing oncology treatment, bringing in an impressive $5.12B in 2022. By 2030, Pfizer expects 30% of its oncology sales to come from urology cancer treatments, as it works on cancer vaccines and precision medication to help treat the disease.

3. Johnson & Johnson

Sales from oncology drugs: $14.31 billion

Driven by their bold mission to “eliminate cancer”, Johnson & Johnson is another drug manufacturer at the forefront of oncology. The company was founded in the late 1800s and initially manufactured sterile surgical products. Today, the American multinational is a renowned name in the pharmaceutical sector and operates in biotechnology and medical technologies.

In the oncology sector, Johnson & Johnson is primarily focused on drugs that treat prostate cancer and haematologic malignancies. Their most well-known oncology drugs include Darzalex, Erleada, Imbruvica, and Zytiga. Although they have only been working in oncology for the past 30 years, Johnson & Johnson have made great strides to become one of the top oncology pharma companies in the world.

2. Bristol-Myers Squibb

Sales from oncology drugs: $14.71 billion

With a rich history in the pharmaceutical sector that dates back to 1858, Bristol-Myers Squibb has extensive experience in hematology, immunology, cardiovascular disease and, oncology. The American multinational pharmaceutical company works to create and develop innovative treatments for people with serious illnesses. The company was pivotal in laying the foundations of the pharmaceutical industry with its vaccine production in the early 20th century.

Some of the most well-known oncology drugs in the Bristol-Myers Squibb range are Opdivo (for mylenoma and other cancers), Abecma (for multiple myeloma), Breyanzi (for various types of non-Hodgkin lymphoma, and Erbitux (for bowel and other cancers). With the acquisition of Celgene, the company now owns blockbuster Revlimid, a world-renowned drug used to treat various types of myeloma and lymphoma. Looking ahead, Bristol Myers Squibb continues to bolster their portfolio and has a robust oncology pipeline, including innovative treatments for various cancers like Opdivo for solid tumours like lung cancer and CK1α Degrader for hematologic malignancies.

1. Roche

Sales from oncology drugs: $27.82 billion

Roche is a well-known name in the pharmaceutical sector with nearly 130 years of experience in immunology, infectious diseases, ophthalmology, neuroscience, and oncology. The Swiss-based multinational biopharma company discovers and develops therapeutic products and supplies tests that can detect diseases, infections and help diagnose conditions.

Roche is one of the top cancer drug companies in the world. Its oncology segment alone holds 11.9% of the overall market share, with cancer treatments such as Tecentriq, Herceptin, Avastin, Kadcula, and Rituxan. Looking ahead, Roche hopes to continue dominating the market through innovation, including by combining pre-existing drugs, such as Tecentriq and Avastin, to help treat lung and liver cancer.

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