Pharmaceutical R&D Spend in 2024: Top 10 Companies Johnson & Johnson leads as biggest spender on pharmaceutical sales in 2024 with 23.6%. GlaxoSmithKline is forecast to have the R&D in 2024. highest growth in pharma R&D spend of the top 10. With a decrease ® in pharma R&D expenditure vs. total Rx sales of 7.3%, AstraZeneca EvaluatePharma 昀椀nds that J&J just edges Roche to claim the position as the forecasted top spender on R&D in 2024, with is forecasted to have the greatest return on R&D investment in a spend of $9.9bn. Novartis drops to fourth place, with Merck 2024. Overall, total R&D spend is expected to increase by 3.0% forecasted to claim third position by a 昀椀ne margin. Of the top 10, each year, reaching $213.0bn in 2024. Eli Lilly is forecast to invest the highest percentage of prescription Figure 7: Pharmaceutical R&D in 2024: Top 10 Companies Source: EvaluatePharma, May 2019 12.0 R&D Spend ($bn) 10.0 CAGR 2018-24 (%) 8.0 9.9 9.9 +2.6% +0.1% 9.2 9.2 8.9 +2.5% +2.0% +1.9% 6.0 6.8 6.7 6.7 +5.3% +4.5% +1.2% 6.1 5.9 4.0 +3.4% +1.8% Pharma R&D Spend ($bn)2.0 0.0 Johnson & Roche Merck & Co Novartis Pfizer GlaxoSmithKline Bristol-Myers Sanofi Eli Lilly AstraZeneca Johnson Squibb Table 11: Pharmaceutical R&D Spend (2018 & 2024): Top 10 Companies & Total Market Source: EvaluatePharma, May 2019 Pharma R&D ($bn) CAGR R&D As a % of Prescription Sales Rank Company 2018 2024 2018-24 2018 2024 Chg. (+/-) 1. Johnson & Johnson 8.4 9.9 +2.6% 21.8% 21.6% -0.2pp 2. Roche 9.8 9.9 +0.1% 22.0% 21.1% -0.9pp 3. Merck & Co 7.9 9.2 +2.5% 21.2% 21.6% +0.4pp 4. Novartis 8.2 9.2 +2.0% 18.8% 18.4% -0.4pp 5. P昀椀zer 8.0 8.9 +1.9% 17.6% 17.4% -0.2pp 6. GlaxoSmithKline 5.0 6.8 +5.3% 16.3% 17.6% +1.3pp 7. Bristol-Myers Squibb 5.1 6.7 +4.5% 23.8% 22.5% -1.3pp 8. Sano昀椀 6.2 6.7 +1.2% 17.7% 16.4% -1.3pp 9. Eli Lilly 5.0 6.1 +3.4% 25.5% 23.6% -1.9pp 10. AstraZeneca 5.3 5.9 +1.8% 25.5% 18.2% -7.3pp Total Top 10 68.9 79.1 +2.3% 20.4% 19.6% -0.8pp Other 110.0 133.9 +3.3% Total 178.9 213.0 +3.0% 21.6% 18.0% -3.6pp Note: Forecasted pharmaceutical R&D spend based on a consensus of leading equity analysts’ estimates for company-level R&D spend. ® 19 EvaluatePharma World Preview 2019 Copyright © 2019 Evaluate Ltd. All rights reserved.