Hung Trinh: Top 10 CDMO ranking based on sales revenue and operation

Hung Trinh shared a post on LinkedIn:

”Who are in the top 10 CDMO ranking based on sales revenue and operation.

Top 10 Contract Development and Manufacturing Organizations 2024:

1. Lonza Group
Basel, Switzerland
CHF 6.717 billion ($7.73 billion)

2. Thermo Fisher Scientific
Waltham, MA
$6.967 billion1

3. Catalent Pharma Solutions
Somerset, NJ
$4.135 billion2

4. Samsung Biologics
Incheon, South Korea
KRW 3.695 trillion ($2.695 billion)

5. WuXi Biologics
Wuxi, China
RMB 17.034 billion ($2.373 billion)

6. Siegfried
Zofingen, Switzerland
CHF 1.272 billion ($1.463 billion)

7. Recipharm
Stockholm, Sweden
€1.321 million ($1.442 billion)

8. FUJIFILM Diosynth Biotechnologies/Fujifilm
College Station, TX/Tokyo, Japan
¥203.4 billion ($1.376 billion)3

9. Boehringer Ingelheim
Ingelheim, Germany
€1.091 million ($1.191 billion) 4

10. MilliporeSigma/Merck KGaA, Darmstadt, Germany KGaA
Burlington, MA/Darmstadt, Germany
€792 million ($864.8 million)5.

‘Revenue for this client base continued to increase in the second quarter; however, proposal activity and bookings began to notably decline and diverge from biotech clients during the second quarter,’ Foster explained. ‘Because of this, the second half revenue growth that we previously anticipated will not materialize. And in fact, demand is expected to continue to soften for global biopharmaceutical clients in the near term.’

‘We expect that these actions and the resulting softening of our demand key performance indicators will continue to cause a period of slower spending by large pharma companies on their early-stage drug development activities, particularly because they are more focused on their clinical pipelines at this time. This is a pretty unexpected and rapid deterioration of the large pharma companies’ business.’

That downturn was not apparent last year, as seven of the companies ranked among GEN’s top 10 CDMOs grew revenue (two saw declines; one stayed flat). The combined 2023 revenue of the top 10 CDMOs rose 7% from 2022, climbing from $28.22 billion to $30.237 billion.”

Source: Hung Trinh/LinkedIn

Hung Trinh is the Senior Director of Business Development at OBiO Tech. He previously served as Director of Process Development and Manufacturing Science and Technology at Vyriad and Associate Director of Downstream Process Development at Genezen. With experience in vaccine development, spanning both pre-clinical and clinical studies, Trinh has worked with various CDMOs focusing on lentiviral vector production and CAR-T cell manufacturing.