Biotech Companies — Annual Report Financials

Together, the 6 companies in this table reported $104.37B of revenue in their latest fiscal years. Amgen Inc. is the largest at $36.75B, or 35.2% of the table's combined revenue, and Moderna, Inc. the smallest at $1.94B.

Net margin (net income as a share of revenue) runs from 32.9% at VERTEX PHARMACEUTICALS INC / MA down to −145.2% at Moderna, Inc.. 1 of the 6 reported a net loss for the year.

Among the 6 companies that report research and development separately, R&D spending ranges from 161.1% of revenue at Moderna, Inc. to 18.0% at BIOGEN INC..

These are arithmetic on the reported figures above, nothing more: fiscal years can end on different dates, and a margin or a share says nothing about where a company is heading.

The most directly comparable table in the catalogue: commercial-stage biotechs close on the same calendar date, disclose R&D without exception, and file under recognisable revenue tags. That makes the ratio of research spend to revenue meaningful here in a way it is not elsewhere. The caveat is survivorship — these are companies with approved products and real revenue, so the table says nothing about the far larger population of clinical-stage firms with no revenue to report.

Every company in this table closes its financial year on the same date, so the rows describe the same twelve months and are directly comparable on timing. All 6 disclose research and development separately, which makes research intensity comparable across the whole table. Figures were retrieved from EDGAR on 2026-10-11.

Each row comes from that company's latest annual report (Form 10-K) on SEC EDGAR, and the “Source filing” column links the exact submission, so any cell can be checked in one click.

Company selection is a size-and-coverage editorial choice among U.S.-listed 10-K filers in the sector, not a ranking, rating, or recommendation of any company. How every table is built and refreshed is set out once, on the verified data tables methodology.

These are the reported baselines — the questions that decide strategy (share shifts, pricing models, segment growth, what the filings say beneath the totals) are what our research briefs answer. Start with the Biotech research practice, or size the opportunity yourself with the market-size calculator.