Pharma Climbs its Way Up the Fortune 500

May 26, 2022

This year’s Fortune 500 saw several pharmaceutical companies climbing the ranks, while some experienced exponential growth. Gilead, for example, grew by almost 5000%. Surprisingly, this wasn’t enough for it to maintain its spot, falling from no. 116 to 123. In contrast, Pfizer climbed up an impressive 34 spots to number 43.

According to Nicole Defeudis of Endpoints News, “AbbVie saw a 150% increase in profits, moving up five spots to No. 63 as CEO Rick Gonzalez focuses on lining up successors to the company’s blockbuster Humira. Last year, Humira crossed the $20 billion mark in sales. Looking ahead, Gonzalez said Skyrizi and Rinvoq can surpass Humira’s peak sales.”

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