Big pharmaceutical companies9/17/2023 The company is a significant employer within the industry, with an estimated 79,000 people on its payroll. Pfizer also spent a record amount on research and development in 2021, spending $13.8 billion, nearly 17% of its total revenue. Comirnaty was also the first coronavirus vaccine to be approved by national health authorities. This was partly due to the incredibly high volume of sales of their COVID-19 vaccine named Comirnaty, which they developed in partnership with BioNTech, a German biotech company. Pfizer earned the highest revenue within the pharmaceutical industry in 2021, reaching an astonishing $81.3 Billion. Here are the world’s top companies, based on pharmaceutical revenue in 2021. So, which pharmaceutical companies are contributing to this growth and enabling us to live longer, healthier lives? The importance of research and development came to the forefront with the occurrence of the COVID-19 pandemic and the need for an effective prevention method. Of this revenue, most companies spend around 20%+ on research and development. The pharmaceutical industry has grown exponentially over the past two decades, from $390.2 billion in revenue in 2001 to $1,27 trillion in 2020, which is more than a 225% increase.
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