Top 10 pharma stocks to watch in 2026

Pharmaceutical companies discover, develop and sell prescription medicines – the drugs used across treatments for diabetes, cancer, cardiovascular disease and immunology disorders. Eli Lilly and Company ($LLY) is the only name in this list with a market cap above $1T, and two of the ten – BioNTech SE ($BNTX) and Ginkgo Bioworks Holdings ($DNA) – are classified as biotech rather than traditional pharmaceutical businesses.

How we built this list: We selected these companies based on their industry and ordered them by market capitalisation. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.

Past performance is not a reliable indicator of future performance.

Source: Stake market data. Figures in US$. Data updated as of 3 August 2026.

1. Lilly ($LLY)

Lilly (LLY) share price over the last year: started at US$769.00, ended at US$1,121.36, a change of +45.8%. Range over the period: high US$1,235.56, low US$625.65. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$1,121.36 · Daily: -2.4% · Market cap: US$1.06T · Sector: Healthcare · Industry: Pharmaceuticals

Among Eli Lilly and Company's ($LLY) most closely watched products are Mounjaro and Zepbound, two cardiometabolic medicines for treating type 2 diabetes and obesity. The broader cardiometabolic portfolio includes established insulin therapies – Humalog, Humulin and Jardiance among them. The company's single business segment also encompasses oncology, immunology and neuroscience.

Eli Lilly and Company ($LLY) manufactures across U.S. sites – including Puerto Rico – and in Europe and Asia, distributing to approximately 90 countries. The oncology lineup includes Verzenio and Jaypirca, while immunology covers Taltz and Olumiant. $LLY also runs LillyDirect, a direct-to-patient digital platform connecting patients with third-party pharmacies for select medicines.

2. Johnson & Johnson ($JNJ)

Johnson & Johnson (JNJ) share price over the last year: started at US$171.04, ended at US$254.41, a change of +48.7%. Range over the period: high US$267.24, low US$170.59. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$254.41 · Daily: -0.8% · Market cap: US$613.10B · Sector: Healthcare · Industry: Pharmaceuticals

Two businesses sit inside Johnson & Johnson ($JNJ) – one built around prescription drugs, the other around medical devices. The Innovative Medicine segment covers therapeutic areas including immunology, oncology and neuroscience. Its portfolio includes treatments like STELARA (ustekinumab) for immune conditions and TREMFYA (guselkumab), alongside HIV treatments and antipsychotic medicines.

The MedTech side of $JNJ handles devices used in cardiovascular procedures, orthopaedic surgery and vision care. Within cardiovascular, the portfolio includes electrophysiology products and Shockwave, designed to treat calcified coronary artery disease and peripheral artery disease. Joaquin Duato leads the company, which employs 138,200 people across both segments.

3. AbbVie ($ABBV)

AbbVie (ABBV) share price over the last year: started at US$197.19, ended at US$245.10, a change of +24.3%. Range over the period: high US$263.30, low US$196.30. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$245.10 · Daily: -2.3% · Market cap: US$433.04B · Sector: Healthcare · Industry: Pharmaceuticals

AbbVie Inc. ($ABBV) makes and sells medicines across immunology, oncology, neuroscience, aesthetics and eye care. Immunology treatments target conditions like rheumatoid arthritis, psoriasis and Crohn's disease. The oncology side includes Imbruvica and Venclexta, used in blood cancer treatment. $ABBV's neuroscience division holds Botox Therapeutic for neurological conditions and Duodopa, a levodopa-carbidopa gel for Parkinson's disease.

4. Merck & Co ($MRK)

Merck & Co (MRK) share price over the last year: started at US$79.86, ended at US$127.77, a change of +60.0%. Range over the period: high US$131.82, low US$77.60. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$127.77 · Daily: -1.9% · Market cap: US$315.57B · Sector: Healthcare · Industry: Pharmaceuticals

Merck & Co ($MRK) makes prescription medicines, vaccines and animal health products, selling primarily to drug wholesalers, hospitals and government agencies. Its human health portfolio includes KEYTRUDA (pembrolizumab), an intravenous injection, alongside WELIREG (belzutifan) tablets and Ohtuvayre (ensifentrine).

The animal health arm of $MRK covers veterinary medicines and vaccines for both livestock and companion animals, as well as health management services. Rob Davis leads the company, which employs around 75,000 people.

5. AstraZeneca ($AZN)

AstraZeneca (AZN) share price over the last year: started at US$150.32, ended at US$157.97, a change of +5.1%. Range over the period: high US$209.48, low US$141.77. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$157.97 · Daily: -6.9% · Market cap: US$178.37B · Sector: Healthcare · Industry: Pharmaceuticals

AstraZeneca ($AZN) is a UK-based biopharmaceutical company built around prescription medicines across five therapy areas: oncology, cardiovascular and metabolic disease, respiratory and immunology, vaccines and immune therapies, and rare disease. Cancer treatments make up a significant part of its portfolio, with drugs like Tagrisso, Imfinzi and Enhertu among its oncology products. On the metabolic side, Farxiga – marketed as Forxiga in some markets – is one of its key cardiovascular and diabetes medicines.

The company employs around 96,100 people and distributes its products in over 125 countries, with CEO Pascal Soriot at the helm. Its pipeline holds about 191 projects, including 19 new molecular entities in late-stage development – meaning treatments that have cleared early trials and are working through the final phases before potential regulatory approval.

6. Novo Nordisk A/S ($NVO)

Novo Nordisk A/S (NVO) share price over the last year: started at US$48.81, ended at US$47.09, a change of −3.5%. Range over the period: high US$63.98, low US$35.29. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$47.09 · Daily: 0.02% · Market cap: US$157.79B · Sector: Healthcare · Industry: Pharmaceuticals

Novo Nordisk A/S ($NVO) has built its business around treating diabetes, with products covering insulin, GLP-1 receptor agonists and oral anti-diabetic drugs marketed in over 180 countries. The company also sells Saxenda for obesity, which sits within the same diabetes and obesity care segment alongside those diabetes treatments. Its second segment, biopharmaceuticals, covers hemophilia care, growth hormone therapy and hormone replacement therapy under brands including NovoSeven and Norditropin. $NVO employs 68,794 people and is led by CEO Maziar Doustdar, with commercial operations split between North America and International Operations.

7. Pfizer ($PFE)

Pfizer (PFE) share price over the last year: started at US$23.53, ended at US$25.03, a change of +6.4%. Range over the period: high US$28.55, low US$23.53. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$25.03 · Daily: 0.08% · Market cap: US$142.66B · Sector: Healthcare · Industry: Pharmaceuticals

Pfizer ($PFE) is a research-based biopharmaceutical company with around 75,000 employees, focused on discovering, developing and selling medicines across oncology, primary care and specialty care. Its oncology portfolio includes drugs like Ibrance and Padcev, while the primary care side covers vaccines such as Prevnar and Comirnaty alongside treatments like Paxlovid and Eliquis.

Under chief executive Albert Bourla, $PFE also has a pipeline candidate – PF-08653944 – described as an ultra-long-acting GLP-1 receptor agonist, a class of drug already attracting significant attention in metabolic disease. The company's reach is genuinely global, with separate commercial divisions covering U.S. and international markets.

8. GSK plc ($GSK)

GSK plc (GSK) share price over the last year: started at US$37.68, ended at US$51.51, a change of +36.7%. Range over the period: high US$61.18, low US$36.75. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$51.51 · Daily: -0.3% · Market cap: US$103.73B · Sector: Healthcare · Industry: Pharmaceuticals

GSK plc ($GSK) is a United Kingdom-based biopharma company that centres its research on the immune system. It covers four therapeutic areas – respiratory and inflammation, oncology, HIV, and infectious diseases – through products including inhalers for asthma and chronic obstructive pulmonary disease (COPD), HIV treatments, and cancer medicines.

The pipeline includes ozureprubart, an anti-immunoglobulin E (IgE) monoclonal antibody, and HS235, a molecule in development for pulmonary hypertension. $GSK employs 66,841 people and is led by chief executive Luke Miels.

9. Biontech SE ($BNTX)

Biontech SE (BNTX) share price over the last year: started at US$110.03, ended at US$92.25, a change of −16.2%. Range over the period: high US$119.34, low US$83.89. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$92.25 · Daily: 1.8% · Market cap: US$23.17B · Sector: Healthcare · Industry: Biotech

Patient-specific immunotherapies – treatments shaped around an individual's own biology – sit at the core of what BioNTech SE ($BNTX) does. The Germany-based company focuses primarily on cancer, though its work extends to other serious diseases. It draws on multiple platforms: mRNA-based therapies, cell therapies, antibodies and small molecules.

The pipeline includes individualised mRNA-based candidates, chimeric antigen receptor T-cells (CAR-T), checkpoint immunomodulators and targeted cancer antibodies. $BNTX also develops diagnostic products and drug discovery services covering infectious diseases, allergies and autoimmune disorders. Chief Executive Ugur Sahin leads a team of 7,807 employees.

10. Ginkgo Bioworks ($DNA)

Ginkgo Bioworks (DNA) share price over the last year: started at US$13.60, ended at US$8.94, a change of −34.3%. Range over the period: high US$16.14, low US$5.48. Source: Stake market data. Past performance is not a reliable indicator of future performance.

Price: US$8.94 · Daily: 10.5% · Market cap: US$557.2M · Sector: Healthcare · Industry: Biotech

Ginkgo Bioworks Holdings ($DNA) runs a biological R&D platform, selling tools and services to government and commercial customers. Its single operating segment is cell engineering, covering work across medicine, agriculture, industrial biotechnology and government applications.

The company's in-house autonomous lab is available as Cloud Lab through its Datapoints and Solutions contract research services. Work covers genetic medicine modalities including gene therapy, cell therapy, gene editing and RNA therapeutics, as well as protein engineering microservices for product developers.

The company says its platform is designed to help customers bring biology-based products to market, rather than developing end products itself. Chief executive Jason Kelly leads a team of 485 people.

Common questions

How to invest in pharma stocks in Australia?

Every stock in this list trades on U.S. exchanges, so you'd access them through a share trading platform that offers U.S. market access. You search the ticker, place an order and the trade settles in USD – meaning your AUD is converted at the prevailing rate. Some investors get broader healthcare exposure through ASX- or U.S.-listed ETFs, but this article covers individual company options.

What are the key risks of pharma stocks?

Clinical-stage drugs fail at high rates, and even approved medicines face patent cliffs – when exclusivity expires, generics can enter and revenue from that product can fall sharply. Regulatory decisions by bodies like the U.S. Food and Drug Administration can make or break a drug's commercial future, and pricing negotiations with governments and insurers add another layer of margin pressure. For Australian investors, all these stocks are priced in USD, so the AUD/USD rate introduces currency exposure on top of the company-specific risks.

What's the difference between pharmaceutical and biotech companies?

Most names in this article are classified as pharmaceuticals – large, established companies generating revenue across multiple approved drug portfolios. $BNTX and $DNA are both classified as biotech, and they operate quite differently. BioNTech is built around mRNA and immunotherapy technology platforms, while Ginkgo Bioworks sells biological R&D services rather than medicines directly. Companies earlier in commercialisation, or with revenue concentrated in fewer programs, tend to carry more company-specific risk.

What drives pharmaceutical stock prices?

Pipeline news tends to be the biggest single mover – a successful late-stage trial or a regulatory approval can lift a stock significantly, while a failure typically does the opposite. Patent expiry is a recurring pressure: when exclusivity ends, generics can enter and revenue from that drug often declines quickly. Revenue concentration amplifies both effects; companies that rely heavily on one or two key products are more exposed when those products hit headwinds.

Disclaimer

Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.

This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.

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