Top Biopharmaceutical Companies Report 9.6% Market Capitalization Growth

Dengue travel vaccinations expand in 2024
pharma companies
GlobalData market capitalization Q1 2024
Austin (Precision Vaccinations News)

Despite the uncertainties in global macroeconomic activities, the top 20 global biopharmaceutical companies experienced a promising first quarter in 2024.

GlobalData recently reported that these companies' market capitalizations increased by 9.6% to reach $4 trillion.

As of March 31, 2024, seven companies reported positive growth in market capitalization, led by Lilly (33.7%), Novo Nordisk (23.8%), and Merck & Co (21%).

Ophelia Chan, MSc, Business Fundamentals Analyst at GlobalData, commented in a press release, "Lilly maintains its lead with the largest market capitalization growth of 33.7% over Q1 2024."

The travel vaccine market is a subset of the broader immunization industry, which is experiencing substantial growth following the recent pandemic.

According to Straits Research, the global travel vaccine market segment was valued at $4 billion in 2023 and is projected to reach $8.1 billion by 2032, experiencing a CAGR of 9.5% during the forecast period.

This forecast is based on introducing innovative travel vaccines that address disease outbreaks such as dengue fever.

Dengue is among the most common mosquito-borne viral diseases, with worldwide incidence rates increasing 30-fold over the last 50 years. It has become endemic in over 100 countries, including U.S. territories like Puerto Rico

Takeda and Biological E. Limited (BE) announced a strategic partnership in February 2024 to accelerate access to QDENGA® (TAK-003) vaccines to meet this market opportunity.

BE will ramp up to a manufacturing capacity of up to 50 million QDENGA doses a year, accelerating Takeda's goal of manufacturing 100 million doses annually within the decade. 

"Takeda's Long-Term goal for our dengue program has been to make QDENGA broadly available to those at risk who may benefit from immunization. Within the last year, we successfully launched in private markets, are now launching in some public programs, and are working with partners to support a broader public health impact," stated Gary Dubin, M.D., president of the Global Vaccine Business Unit at Takeda, in a press release.

"We are proud to announce a strategic manufacturing partnership with Biological E. Limited, which has deep expertise in vaccine manufacturing and longstanding support of public health programs worldwide."

"Together, we will help combat dengue globally by significantly increasing manufacturing capacity for multi-dose QDENGA vials to drive sustainable vaccine access in more endemic countries."

As of May 30, 2024, QDENGA is not offered in the United States.

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Article by
Donald Hackett