Pharma Research Market Cap of 6 Major Pharma Firms Increased by 51.1 Billion Dollars
The six pharma companies— Gilead Sciences, Moderna, Astra Zeneca, Roche, Sanofi and Biontech—are involved in Covid-19 research and data has revealed that the firms have witnessed this jump only in the last six months.
London/UK – Pharmaceutical companies taking center stage in the Covid-19 fight have witnessed significant growth in their stock price in the first half of 2020. According to data gathered by Aksje Bloggen, the market capitalisation of the six leading pharma companies involved in Covid-19 research jumped by 51.1 billion dollars in the last six months.
With a 15.67 billion dollar increase between January and June, Gilead Sciences has witnessed the most significant growth in the market cap value amid the coronavirus pandemic.
Global Race for the Coronavirus Cure
Gilead Sciences shot to the public spotlight due to trials of its broad-spectrum antiviral medication Remdesivir as a possible treatment for Covid-19. At the end of January, the market cap of the U.S. biopharmaceutical company amounted to 79.04 billion dollars, revealed Macro Trends data. By the end of the first week in March, it peaked at 101.24 billion dollars, almost a 30 % jump in less than two months.
After a sharp fall on Black Monday, Gilead’s stock price value dropped to 86.55 dollars. However, after the National Institute of Allergy and Infectious Diseases trial had shown that Remdesivir accelerates recovery from advanced Covid-19 at the end of April, the combined value of the company’s stocks peaked at 104.92 billion dollars. Statistics show the market capitalisation of the U.S. pharma company stood at 94.71 billion dollars last week, a 20 % jump since the beginning of the year.
With a 15.55 billion dollar increase in the total value of shares, the US Covid-19 vaccine maker Moderna has witnessed the second-largest market cap increase amid the coronavirus outbreak. At the beginning of January, the Massachusetts-based clinical-stage biotechnology company had 6.67 billion dollars in market capitalisation and the figure continued rising ever since. After receiving a 483 million dollar financial boost from the U.S. Government agency Barda to accelerate the development of the vaccine mRNA-1273, the company's stock price peaked at 28.25 billion dollars on May 18. Statistics show that Moderna’s stock price value stood at 22.22 billion dollars last week.
The British multinational pharmaceutical company Astra Zeneca ranked third on this list, with a 12.2 billion dollar increase in the market cap value in the last six months. In January, the total value of the company's shares stood at 130.33 billion dollars. Due to the coronavirus stock market crisis, it tumbled to 99.1 billion dollars in the second week of March. However, after announcing collaboration with the Oxford University to develop the Covid-19 vaccine, the market cap started growing and peaked at 145.1 billion dollars on May 13. Last week the combined value of shares of the British pharmaceutical company amounted to 142.35 billion dollars.
Roche, Sanofi and Biontech Combined Market Cap Jumped by 7.9 Billion Dollars
The Swiss multinational healthcare company Roche Holding has witnessed a 3.94 billion dollar increase in the market cap value, rising from 40.89 billion dollars in January to 44.83 billion dollars last week. Along with providing fast, accurate, and reliable Covid-19 tests, China's National Health Commission also recommends using the company's anti-inflammation drug, Actemra, for Covid-19 patients with severe lung damage. In May, the company's shares started significantly rising after Roche's Elecsys IL-6 test received FDA Emergency Use Authorisation to help in identifying patients at high risk of severe inflammatory response.
Statistics show that Sanofi ranked fifth on this list, with a 2.13 billion dollar jump in the total value of shares in the last six months. In January, the market cap of the French multinational pharmaceutical company amounted to 129.1 billion dollars. After a significant plunge in March, the market capitalisation stood at 131.31 billion dollars last week.
German immunotherapy company Biontech, as the last company on this list, witnessed a 1.83 billion dollar increase in the market cap value in the first half of the year. Statistics show the total value of the company's shares grew from 9.9 billion dollars at the beginning of January to 11.73 billion dollars in June.
The full story can be read here: https://aksjebloggen.com/market-cap-of-the-leading-pharma-companies-involved-in-covid-19-research-jumped-by-51-1bn-in-six-months/