— A review of the top 25 Healthcare companies in Asia-Pacific

by Goby Global

We reviewed the top 25 healthcare companies in Asia-Pacific by market cap and found that:

• Japan and China dominate the list, accounting for 12 and 9 of the top 25, respectively, but the largest company, CSL Limited, is Australian. 
• CSL has a market cap of $83.6 billion.  It is only 1/6th of the largest healthcare company in the US, Eli Lilly, which has a market cap of $501.5 billion. In fact, the market cap of Eli Lilly equals to roughly the combined market cap of the top 11 largest companies. Does it mean Lilly is overvalued or these Asia companies undervalued?
• A Chinese traditional medicine company, Zhangzhou Pientzehuang Pharma, made the list, ranking at #15.
• Legend Biotech, the rising Chinese biotech star, up 43% YTD, almost made it. Ranking #27
• Wuxi AppTec and Wuxi Biologics ranked #10 and #15, respectively.  Their combined market cap of $55.7 bil would allow them to be ranked #3, after CSL and Daiichi. But Wuxi Pharma Group has other non-listed entity such as Wuxi XDC. So Wuxi Pharma Group would have ranked close to #2 if all of its subsidiaries are included and valuated. 

1. CSL

CSL is an Australian biotech company. Its product areas include rare and serious diseases, hemophilia and immune deficiencies, influenza vaccines, and iron deficiency and nephrology. Approved products marketed for these medical areas include Beriglobin P, HAEGARDA, Tetagam, Cluviat, Respreeza, and Albapure.

2. Daiichi Sankyo

Daiichi Sankyo was established from the merger of Sankyo and Daiichi Pharmaceutical. Its product portfolio focuses on oncology and cardiovascular products, including therapies for metastatic breast, lung, and gastric cancer. Approved medicines include Enhertu, Turalio, Vanflyta, and Zelboraf.

3. Chugai Pharmaceutical

Chugai Pharmaceutical is a subsidiary of Hoffman-La Roche which owns 62% of the company. It aims to create innovative drugs with first-in-class or best-in-class potential, especially in the fields of oncology, bone/joint/renal diseases, and autoimmune diseases. Approved drugs include Acterma for the treatment of rheumatoid arthritis and other autoimmune diseases, Alecensa for the treatment of non-small cell lung cancer, and GC33 antibody for hepatocellular carcinoma.

4. Mindray Bio-Medical Electronics

Mindray is a global provider of medical devices, medical equipment, and household products. Its portfolio includes the DC-6 Diagnostic Ultrasound System, the M1000 chemistry and immunoassay solution for large-scale labs, the M-Connect central monitoring platform for patient bedsides, and the HyPort medical supply unit for streamlining clinical workflow.

5. Takeda Pharmaceutical

Takeda is a global biopharmaceutical company with an R&D portfolio covering the fields of oncology, gastroenterology, rare diseases, neuroscience, plasma-derived therapies, and vaccines. Core products include Entyvio for the treatment of bowel disorders including ulcerative colitis and Crohn’s disease, Velcade to treat certain cancers such as multiple myeloma and mantle cell lymphoma, and Leuprorelin for advanced prostate cancer.

6. Samsung Biologics

Samsung Biologics is a fully integrated CDMO offering contract development, contract manufacturing, and biosafety testing services. The Company currently has four plants to fulfill its bio manufacturing demands, and announced plans to construct its fifth plant which will be operational in 2025.

7. Hoya

Hoya is a global med-tech company that supplies high-tech imaging products, medical equipments, and electronics. It produces eyeglasses, medical endoscopes, intraocular lenses, optical lenses as well as key components for semiconductor devices, LCD panels and HDDs. 

8. Jiangsu Hengrui Pharmaceuticals

Jiangsu Hengrui Pharmaceuticals is a global pharmaceutical company that focuses on innovative R&D, especially in the fields of oncology, cardiovascular, and autoimmune diseases. Approved products include the cancer drugs Carmustine, Docetaxel, Cyclophosphamide, and the radiocontrast agent Iodixanol.

9. Sun Pharmaceutical

Sun Pharmaceutical is the largest pharmaceutical company in India with a diversified specialty and generics portfolio that spans fields such as neuro-psychiatry, cardiology, gastroenterology, anti-infectives, oncology, ophthalmology, dermatology, urology, nephrology, and respiratory. Approved drugs include Absorica for the treatment of severe cystic acne and Bactrim and Azithromycin to treat bacterial infections.

10. WuXi AppTec

WuXi AppTec is a global company with operations across Asia, Europe, and North America, providing integrated, end-to-end services that include chemistry drug CRDMO (Contract Research, Development and Manufacturing Organization), biology discovery, preclinical testing and clinical research services, and cell and gene therapies CTDMO (Contract Testing, Development and Manufacturing Organization).

11. Astellas Pharma

Astellas Pharma is a pharmaceutical company that conducts business in over 70 countries and regions, with the aim to help patients who have no treatment options, or do not respond adequately to existing treatments. Main products include XTANDI to treat prostate cancer, Evernzo to treat anemia associated with chronic kidney disease, and the immunosuppressants Prograf and Advagraf.

12. Aier Eye Hospital Group

AIER Eye Hospital Group is a leading ophthalmic medical group (eye-care service provider) with domestic and global footprint and high-standard medical care capacity. Its medical service network covers approximately 3 billion people worldwide and offers various types of eye disease diagnosis and treatment, surgical services and medical optometry; treatment for all eye diseases, especially myopia, cataract, glaucoma, retinal diseases, pediatric ophthalmology, optical and contact lens services.

13. Terumo Corporation

Terumo is a global medical device company originating from Japan that pursues reliable quality and technology to contribute to healthcare in more than 160 countries and regions around the globe. The company produces blood pressure monitors, infusion sets, syringe pumps, blood glucose monitoring systems, and lancing devices for blood collection.

14. Zhangzhou Pientzehuang Pharmaceutical

Zhangzhou Pientzehuang Pharmaceuticalis a Chinese company that specializes in traditional Chinese medicine roots to create biological pharmacy products. It uses a traditional Chinese medicine approach to  develop treatments for liver diseases, cancers, and promote overall health. Products include anti-inflammation capsules, hemorrhoid oil, and lung soothing remedies.

15. Wuxi Biologics (Cayman)

Wuxi Biologics is a global open-access biologics technology platform that aims to accelerate and transform the discovery, development and manufacturing of biologics. It offers end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization.

16. BeiGene

BeiGene is a global biotechnology company that develops medicines to improve treatment outcomes and access for patients worldwide, with a priority in the field of oncology. The Company received its first FDA approval in 2019 for the drug BRUKINSA, a medication to treat adults with mantle cell lymphoma, Waldenström’s macroglobulinemia, and marginal zone lymphoma. 

17. Otsuka Holdings Co., Ltd.

The Otsuka group of companies is a total-healthcare enterprise with two main pillars ― the pharmaceutical business for the diagnosis and treatment of diseases and the nutraceutical business to support the maintenance and promotion of everyday health. Its product portfolio includes offerings such as the OS-1 beverages to address dehydration, HINEX liquid diet gel, and ORONINE skin ointment.

18. Olympus Corp.

Olympus is a global MedTech company that focuses on disease states where it can have the greatest impact on elevating the standard of care, such as in gastroenterology, urology, and respiratory specialties. It offers Olympus Continuum, a comprehensive platform of education and training experiences led by healthcare experts from around the world, as well as gastrocameras, endoscopes, and other medical devices.

19. Eisai Co., Ltd.

Eisai is a pharmaceutical company that prioritizes R&D in the fields of neurology and oncology, where unmet medical needs are extremely high. Products include the antiepileptic drug Fycompa® to treat seizures, Lenvima for the treatment of thyroid cancer, and Lecanemab for Alzheimer’s.

20. Celltrion, Inc.

Celltrion is a South Korean-based biopharma company that specializes in biologics by offering high-quality biosimilars, such as heptatonic, antibiotics, antihistamines, respiratory apparatus drugs, circularly system drugs, digestives and stomachic drugs, hormone disease drugs, nutrients and tonics. 

21. Chongqing Zhifei Biological Products

Chongqing Zhifei Biological Product creates biological products and vaccines, such as: meningococcal group A&C conjugate vaccine, meningococcal polysaccharide vaccine, mycobacterium vaccine, Haemophilus Influenzae type b conjugate vaccine, and freeze-dried live attenuated hepatitis A vaccine.

22. M3

M3 provides medical product solutions via online platforms for medical professionals and physicians. Its offerings include interactive marketing, education, content, hiring, and research solutions. The Company’s aim is to help healthcare professionals provide the best care by enabling them to stay current on the ever-evolving practice of medicine.

23. Sysmex

Sysmex is a supplier of medical devices that conducts research and development at its facilities in Japan, France, New Zealand, Germany and the US. It offers diagnostic instruments, reagents and laboratory information systems to clinical laboratories for testing. The company specializes in hematology, providing urinalysis, flow cytometry, and lab informatics solutions.

24. IMEIK Technology Development

IMEIK Technology Development Co. develops and researches the transformation of biomedical soft tissue repair materials. It is a leading innovative company of biomedical soft-tissue materials in China which has successfully realized the industrialization of sodium hyaluronate fillers and facial implant threads.

25. Shionogi & Co.

Shionogi & Co. is a Japan-based pharmaceutical company dedicated to the R&D of novel antibiotics as well as novel medications for HIV and influenza and clinical programs for COVID-19 and other diseases with high unmet needs. Its key products include FETROJA to treat complicated UTIs, Mulpleta oral tablets for chronic liver disease, and Methylin to treat ADHD.

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