Samsung Biologics and Celltrion ranked among the top 25 biotech companies worldwide.

Genetic Engineering & Biotechnology News (GEN), a U.S. biotech and health publication, recently announced the "2024 Biotech Top 25" based on the analysis of market capitalization (as of Dec. 8, 2023) of biotech companies worldwide. Samsung Biologics was ranked 12th place and Celltrion 25th.

Samsung Biologics had a market capitalization of $38.31 billion (51.25 trillion won), and Celltrion had $17.73 billion (23.72 trillion won). With a market capitalization of $430.96 billion, Novo Nordisk topped the list of top 25 companies.

In similar rankings released in May last year, Samsung Biologics was in 14th place and Celltrion 27th. Of the top 25 biotech companies, 14 were headquartered outside the U.S. Three were from China, two were from Denmark, Japan, and South Korea, and one was from Australia, Germany, India, the Netherlands, and Switzerland.

The combined market capitalization of this year's top 25 companies declined year-on-year for the first time since 2012, when GEN began compiling its list of top biotech companies. As of Dec. 8, 2023, the market capitalization of the top 25 biotech companies was $1.711 trillion (2,291 trillion won), a 2.2 percent drop from the $1.750 trillion (2,341 trillion won) market capitalization of GEN's 2023 Top 25 Biotech Companies list published in May 2023.

"We interpret the decline over the past year as a result of a plunge in public and private financing due to the pandemic, a sharp drop in Covid-19 vaccine sales, and investors' reaction to the 'patent cliff,' where more than 20 drugs will lose monopoly status by 2030," said GEN Senior Business Editor Alex Philippidis. “However, biotech remains a profitable investment over the long term."

The combined market capitalization of the 2024 Biotech Top 25 is up nearly 78 percent from that of GEN's 2019 Biotech Top 25, which stood at $963.4 billion.

Global biotech companies’ market capitalization ranking