Here’s the 2023 version, which shows how much of each company’s revenues comes from products launches in the past 3 or 5 years…
As last year, the individual numbers are probably less important than the spread - almost 0 to 100%… Seeing Pfizer at 63% and Merck at 1.7%, for example, does tend to reveal that those companies are built differently…
It is clear that some companies who put ‘Innovation’ in their Jefferies/ BIO conference decks trend to the bottom half of this table.
As you’ll see here, it doesn’t automatically help if you launch lots of new drugs… Novartis’ 12 new drugs aren’t a huge part of their total. So, on one hand they’ve been more successful than the rest, in launching more, but they’re seeing challenges getting those 12 to contribute to the portfolio revenues - that’s why we keep focusing on what is launched successfully, as a measure of innovation.
