2 Unbelievable Clues That Biotech Revenue May Soon Rival Big Pharma
Biotech has long been the little sibling of big pharmaceutical companies. And even the very biggest biotech companies' annual revenue has totaled much less than that of their pharma rivals. For instance, biotech Amgen's annual revenue has hovered around $22 billion in recent years. While Merck's revenue has been closer to $40 billion.
But that may not be the case forever. Biotech companies are bringing more and more products through late-stage clinical trials. Some biotech's -- like Moderna (NASDAQ: MRNA) -- have put the idea of biotech on the map with blockbuster products. I'm thinking of Moderna's coronavirus vaccine. Big pharma's like Pfizer (NYSE: PFE) have partnered with biotech companies to drive growth. I'm thinking of Pfizer's partnership with BioNTech for their blockbuster coronavirus vaccine. And the following charts show two amazing clues that biotech revenue soon may rival that of big pharma.
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Source Fool.com
