Biotech is a new and perhaps the most innovative field. It was birthed to help find answers for some of the most nagging issues humanity faces at present. Has that piqued your interest? If yes, then join us as we elaborate on what Biotech is all about and which are the top 10 Biotechnology companies out there.
What Is Biotechnology?
Biotechnology has a pretty simple etymology. It is made by combining two words, Bio and Technology. The former is an acronym of Biology, which is a field of science dealing with the living organisms and the vital processes they perform to sustain themselves. The latter, on the other hand, represents areas where the practical use of science is sought. So, Biotech means utilising organisms for developing cutting-edge solutions and products.
The development of biotechnology started in the 1970s. However, if we look at how the industry perceives biotechnology, a lot of discrepancies surface. Specifications might vary, but Biotech is classified into four major categories, subject to the application. They include:
- Medical Biotech
- Industrial Biotech
- Environmental Biotech
- Marine Biotech
As of now, the biotech industry is striving to create new biofuels that are safe for people and the planet. With that, the reliance on fossil fuels would reduce drastically.
Top 10 Biotechnology Companies In The World
With the basics of biotech out of the way, it’s time to focus on the top 10 Biotechnology companies in the world that are bringing a tangible change to the imperfect world we live in.
1. Novo Nordisk A/S (NVO)
Starting the list with best of the best, we have Novo from Denmark. The company has offices in 80 plus countries and 7 production facilities around the globe. This makes it a truly international biotech company. Novo is constantly investing money in research in diabetes care, hemophilia, growth hormone therapy, and hormone replacement therapy.
In the past decade, the company was able to make industry-leading drugs using various brand names. Some of the well-trusted brands in the world related to Novo are Levemir, NovoLog, and Novolin. The company has a revenue of $18.3 billion, and the net income is $5.8 billion. In addition to this, it has a market cap of $118.6 billion.
Operating out of Paris since 1973, Sanofi is placed second on the list of the top 10 biotechnology companies in the world. In an epoch-making move, Sanofi merged with Aventis in 2004 and became Sanofi Aventis. The name, Sanofi was restored in 2011, which stays intact to date. In 2011, the company became one of the world’s biggest vaccine manufacturers. With fame comes bigger responsibilities. This new medal on the crest of Sanofi made the U.S. call them to combat the global pandemic in 2020.
The U.S. government asked the company to produce 100 million doses in collaboration with GlaxoSmithKline. The order was worth 2.1 billion dollars. Apart from this, even the U.K. government asked the company to produce 60 million vaccines from these two. The numbers were overwhelming but the duo delivered them on time.
3. Johnson & Johnson
Strange but true, Johnson & Johnson is in the race to become the leading biotech company in the world. Founded in 1886, the company has its headquarters in New Brunswick. Over the years, it has grown into a juggernaut, riding high on innovation and a solid global distributor network. In January of 2016, the company pulled out a whopping 71.89 billion dollars in revenue.
Johnson & Johnson is regulating more than 100 child companies divided into three major segments – Pharmaceuticals, Medical Devices, and Consumer Products. Only in the US, the company has a market of 172 different medications. Some of the well-known Johnson & Johnson brands include Zyrtec, Tylenol, Sudafed, and Mortin. It had been in the news lately due to their one project being derailed after Britain’s Brexit. The company was working on a JLabs accelerator but Brexit brought it to a grinding halt.
The Switzerland-based company presently employs more than 94,052 individuals the world over. Roche has two main areas of concern, pharmaceuticals and diagnostics. Genentech is its wholly-owned affiliate, operating in the U.S. and Japan by the name Chugai Pharmaceuticals. According to the industry estimates, the company brought in a revenue of more than $50 billion in just one year.
5. Regeneron Pharmaceuticals
It’s perhaps the least known name in our list of the top 10 biotechnology companies in the world. Headquartered in Westchester County, New York, the company prefers to be in the shadows while helping millions of diseased people around the globe. Regeneron provides leading-edge solutions for cancers, cardiovascular diseases, and other inflammatory issues.
Regeneron has developed one of its kind regeneration genetics centers in its headquarters. The move would allow the company to make the worlds’ most extensive gene sequencing operations. The company has been around since 1988 and generated a revenue of 849.7 crores in 2020.
Earlier, GlaxoSmithKline (GSK) was capped at $117.2 billion. But in 2013, it became the highest ever market cap company in the biotech industry, standing tall at $174.9 billion. The numbers are impressive for a company that is only 19 years old. That makes it one of the world’s best biotechnology companies.
The company as we know it today was formed with the merger of Glaxo Wellcome and SmithKline Beecham in 2000. Soon after the merger, the company was the first one to come up with the malaria vaccine that rendered it global recognition. Also, the World Health Organisation (WHO) gets some of its products from this company. In the year 2019, the company was able to cross the revenue of $44 billion.
In recent months, the company made headlines worldwide. The company was founded in New York City, the home of the biggest and the most influential stock market in the world. In recent years, due to the COVID outbreak, the company was able to increase its revenue by two-folds. It is one of the pioneers in COVID 19 vaccine development and production.
The company exported millions of vaccines all around the world to combat the pandemic. Pfizer started in Brooklyn in 1840, and still, you can find them in the city. However, now it is looking to build a new headquarters in Manhattan. Notably, GSK raked in $19.0 Billion in revenue in the 2nd quarter of the current year, which is an 86% upturn in operational growth.
8. Biomarin Pharmaceuticals Inc
This one is different from the others mentioned on our list of the top 10 biotechnology companies in the world. Biomarin is a multinational company that makes products based on therapeutic enzymes. This company also has some of the most sought-after products in the world when it comes to lysosomal storage diseases. Besides, Biomarin could help you with your severe burns. In addition, the company assists doctors in providing diagnostic and analytic services in carbohydrate biology applications.
9. Abbott Laboratories
Established in 1888, Abbott is one of the oldest companies with a fine track record. The company recently achieved the highest cap worth $153.5 billion. Some of the widely recognised Abbott products include Pedialyte, Ensure, Glucerna, and Similac. Also, the company offers a favourable environment to its employees to perform above their potential. Unsurprisingly, its employee retention rates are among the highest.
10. Gilead Sciences, Inc
Last on our list is Gilead Science, located in Foster City, California. The primary medicines developed by the company are related to HIV, hepatitis B, and C, along with influenza. It is the best in the world when it comes to producing drugs for hepatitis C. In 2019, the company acquired Kite Pharma, making it one of the world’s biggest biotech companies. Two months later, the FDA approved the Yes Carta, which is an axicabtagene ciloleucel developed by Kite Pharma. This is the second CAR-T therapy in the world to have FDA approval.
These were some of the best biotech companies in the world. Sure, you might know some more and would like to see them on our list of the top 10 biotechnology companies in the world. Let us know in the comment section which one, according to you, is the best.
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