Andrii Yalanskyi
Weight loss drug maker Novo Nordisk (NVO) and American healthcare giant Johnson & Johnson (New York Stock Exchange:JNJ) have become Big Pharma's most transformative companies, according to a new report based on their R&D efforts.
IDEA, a London-based consulting firm focused on supporting Pharma in drug discovery and commercialization, said in a report this week that Novo (OTCPK:NOF) has led its 2024 Innovation Index.
The Danish pharmaceutical company has risen 18 positions to dethrone Pfizer (PFE) from its two year leadership in the index, a ranking based on the return on investment in drug discovery.
“Novo Nordisk's journey to the top of the Innovation Index symbolizes a century-long commitment to transformative healthcare,” IDEA noted in the report as the Wegovy maker celebrated its 100th anniversary.
Another European pharmaceutical giant, GSK (New York Stock Exchange:GSK), has followed Novo (NVO) in IDEA's innovation index, just ahead of Pfizer (PFE). The U.S. drugmaker was forced to cut its R&D spending when its pandemic-era growth engine, fueled by its COVID-19 franchise, ground to a halt.
Meanwhile, Johnson & Johnson (JNJ) outperformed Merck (New York Stock Exchange: MRK), AstraZeneca (AZN) and Bristol-Myers (BMY) will top IDEA's 2024 Inventions Index, which considers novelty in drug development. New Brunswick, New Jersey-based J&J (JNJ) won FDA approval in 2023 for its first-in-class Talvey bispecific antibody for multiple myeloma, IDEA notes.
“With 19 introductions in the US and EU in 2023, J&J set high expectations for continued progress and success in the year ahead,” IDEA said.
Notably, Novo's (NVO) rival in the weight-loss drug market, Eli Lilly (LLY), rose two places to secure fourth position in the Innovation Index, while it fell three places in the Inventions Index. up to seventh place.
“Lilly's upward movement on the Innovation Index reflects its continued commitment to driving innovation in healthcare while ensuring patients remain front and center in these efforts,” IDEA said, referring to the company's recent introductions, including its Zepbound weight loss therapy and its DTC platform. Lilly Direct.
The bottom six rankings in the 2024 IDEA Innovation Top 10 Pharma Index were comprised of Bristol-Myers (BMY), J&J (JNJ), AstraZeneca (AZN), Roche (OTCQX:RHHBY) (OTCQX:RHHBF), Daiichi Sankyo (OTCPK:DSKYF). (OTCPK:DSNKY) and Merck (MRK), respectively.
Meanwhile, Moderna (MRNA) rose 15 places to fifth place in the Inventions Index. The Cambridge, Massachusetts biotech company is hoping to win FDA approval this month for its first-of-its-kind messenger RNA-based RSV vaccine.
Pfizer (PFE) and Eli Lilly (LLY) followed Moderna (MRNA) in the inventions index, ahead of Vertex Pharma (VRTX) and Regeneron (REGN), which shared the eighth position.
