Amgen and Pfizer Top Market Capitalization Lists in Genetic Engineering News

Business Wire, June 3, 2002

Business Editors & Health/Medical Writers

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LARCHMONT, N.Y.--(BW HealthWire)--June 3, 2002

Amgen (Nasdaq:AMGN) is the number one biotechnology company in terms of market capitalization while Pfizer (NYSE:PFE) holds down the top spot among pharmaceutical firms in Genetic Engineering News' (GEN) annual feature, "Top 50 Biofirms and 10 Leading Drug Companies." Genentech (NYSE:DNA) and Serono (NYSE:SRA) follow Amgen in that order, and Johnson & Johnson (NYSE:JNJ) and GlaxoSmithKline (NYSE:GSK) come in after Pfizer, according to the June 1 issue of GEN (www.genengnews.com).

"Despite a recession, a closed IPO window and the lingering aftereffects of 9/11, biotech and pharmaceutical companies are moving forward with their R&D and product development plans," says John Sterling, managing editor of GEN. "Nevertheless, our listings do show how the economy and Wall Street have impacted industries."

In looking at this year's market caps, for example, Amgen ($52.28 billion), Genentech ($18.53B) and Serono ($17.97B) are all down from the numbers in 2001 ($68.71B, $26.85B, and $21.85B, respectively). Among the pharmaceutical firms, Pfizer ($234.1B vs. $264.3B last year) and GlaxoSmithKline ($148.6B vs. $167.4B in 2001) follow the biotech trend. However, Johnson & Johnson, with a 2002 market cap of $195.6B, grew appreciably from last year's $135.9B.).

Among a number of other biotech companies published in GEN's market cap listing are Immunex (Nasdaq:IMNX), $14.26B; Genzyme (Nasdaq:GENZ), $8.44B; Idec Pharmaceuticals (Nasdaq:IDPH), $8.03B; MedImmune (Nasdaq:MEDI), $7.89B; Chiron (Nasdaq:CHIR), $7.39B; Gilead Sciences (Nasdaq:GILD), $6.38B; and Biogen (Nasdaq:BGEN), $6.17B.

Merck & Co. (NYSE:MRK), $126.2B; Novartis (NYSE:NVS), $106.5B; Abbott Labs (NYSE:ABT), $84.1B; AstraZeneca (NYSE:AZN), $81.5B; Wyeth (NYSE:WYE), $78.6B; Eli Lilly (NYSE:LLY), $76.4B; and Bristol-Myers Squibb (NYSE:BMY), $56.9B, comprise the rest of the pharmaceutical firm market cap listings.

Genetic Engineering News is published 21 times a year by Mary Ann Liebert Inc. For a copy of the April 1 issue featuring "Molecular Millionaires," please call 914/834-3100, ext 623, or e-mail: ebicovny@liebertpub.com.