| 1 | Galderma Group AG CH1335392721 | 🇨🇭 CH | $49,7 Mrd. | A+ |
| 2 | Lantheus Holdings Inc. US5165441032 | 🇺🇸 US | $6,6 Mrd. | A+ |
| 3 | Merck KGaA DE0006599905 | 🇩🇪 DE | $68,6 Mrd. | A+ |
| 4 | Emcure Pharmaceuticals Ltd. INE168P01015 | 🇮🇳 IN | $3,8 Mrd. | A+ |
| 5 | Dong-E-E-Jiao Co.Ltd. CNE0000006Y9 | 🇨🇳 CN | $4,9 Mrd. | A+ |
| 6 | Shionogi & Co. Ltd. JP3347200002 | 🇯🇵 JP | $14,9 Mrd. | A+ |
| 7 | PharmaEssentia Corporation TW0006446008 | 🇹🇼 TW | $18,3 Mrd. | A+ |
| 8 | Granules India Limited INE101D01020 | 🇮🇳 IN | $2,2 Mrd. | A+ |
| 9 | Lupin Limited INE326A01037 | 🇮🇳 IN | $10,7 Mrd. | A+ |
| 10 | Aurobindo Pharma Limited INE406A01037 | 🇮🇳 IN | $9,8 Mrd. | A+ |
| 11 | Laboratorios Farmaceuticos Rovi S.A. ES0157261019 | 🇪🇸 ES | $3,4 Mrd. | A |
| 12 | Gland Pharma Limited INE068V01023 | 🇮🇳 IN | $5,1 Mrd. | A |
| 13 | Caplin Point Laboratories Ltd. INE475E01026 | 🇮🇳 IN | $2,0 Mrd. | A |
| 14 | Hypera S.A. BRHYPEACNOR0 | 🇧🇷 BR | $2,8 Mrd. | A |
| 15 | Sun Pharmaceutical Industries Limited INE044A01036 | 🇮🇳 IN | $48,2 Mrd. | A |
| 16 | H. Lundbeck A/S DK0061804770 | 🇩🇰 DK | $5,3 Mrd. | A |
| 17 | Dr. Reddys Laboratories Limited INE089A01031 | 🇮🇳 IN | $10,6 Mrd. | A |
| 18 | Alivus Life Sciences Limited INE03Q201024 | 🇮🇳 IN | $1,8 Mrd. | A |
| 19 | Alkem Laboratories Limited INE540L01014 | 🇮🇳 IN | $6,7 Mrd. | A |
| 20 | Takeda Pharmaceutical Company Limited JP3463000004 | 🇯🇵 JP | $55,4 Mrd. | A |
| 21 | Haleon plc GB00BMX86B70 | 🇬🇧 GB | $41,8 Mrd. | A |
| 22 | Ipca Laboratories Limited INE571A01038 | 🇮🇳 IN | $5,0 Mrd. | A |
| 23 | Ipsen S.A. FR0010259150 | 🇫🇷 FR | $15,5 Mrd. | A |
| 24 | Sandoz Group AG CH1243598427 | 🇨🇭 CH | $40,0 Mrd. | A |
| 25 | Apeloa Pharmaceutical Co.Ltd CNE000000Q45 | 🇨🇳 CN | $3,8 Mrd. | A |
| 26 | Zydus Lifesciences Limited INE010B01027 | 🇮🇳 IN | $11,9 Mrd. | A |
| 27 | Torrent Pharmaceuticals Limited INE685A01028 | 🇮🇳 IN | $19,3 Mrd. | A |
| 28 | Divis Laboratories Limited INE361B01024 | 🇮🇳 IN | $23,7 Mrd. | A |
| 29 | Consun Pharmaceutical Group Limited KYG2524A1031 | 🇨🇳 CN | $1,4 Mrd. | A |
| 30 | Pharmanutra S.p.A. IT0005274094 | 🇮🇹 IT | $918 Mio. | A |
| 31 | Teva Pharmaceutical Industries Limited US8816242098 | 🇮🇱 IL | $42,8 Mrd. | A |
| 32 | China Shineway Pharmaceutical Group Limited KYG2110P1000 | 🇨🇳 CN | $774 Mio. | B+ |
| 33 | Eisai Co. Ltd. JP3160400002 | 🇯🇵 JP | $8,4 Mrd. | B+ |
| 34 | TTY Biopharm Company Limited TW0004105002 | 🇹🇼 TW | $594 Mio. | B+ |
| 35 | Jiangsu Nhwa Pharmaceutical Co. Ltd. CNE100000CG8 | 🇨🇳 CN | $3,3 Mrd. | B+ |
| 36 | Zhejiang NHU Company Ltd. CNE000001J84 | 🇨🇳 CN | $13,1 Mrd. | B+ |
| 37 | Fagron N.V. BE0003874915 | 🇧🇪 BE | $1,9 Mrd. | B+ |
| 38 | Glenmark Pharmaceuticals Limited INE935A01035 | 🇮🇳 IN | $7,1 Mrd. | B+ |
| 39 | Hikma Pharmaceuticals PLC GB00B0LCW083 | 🇬🇧 GB | $4,6 Mrd. | B+ |
| 40 | China Resources Jiangzhong Pharmaceutical Co.Ltd CNE000000M80 | 🇨🇳 CN | $2,2 Mrd. | B+ |
| 41 | Jiangsu Hengrui Medicine Co. Ltd. CNE0000014W7 | 🇨🇳 CN | $50,0 Mrd. | B+ |
| 42 | Yunnan Baiyao Group Co.Ltd CNE0000008X7 | 🇨🇳 CN | $13,2 Mrd. | B+ |
| 43 | Procter & Gamble Health Limited INE199A01012 | 🇮🇳 IN | $1,0 Mrd. | B+ |
| 44 | Jilin Aodong Pharmaceutical Group Co. Ltd. CNE000000719 | 🇨🇳 CN | $3,2 Mrd. | B+ |
| 45 | Indivior Pharmaceuticals Inc US45579U1097 | 🇺🇸 US | $4,9 Mrd. | B+ |
| 46 | Faes Farma S.A. ES0134950F36 | 🇪🇸 ES | $1,6 Mrd. | B+ |
| 47 | Jamjoom Pharmaceuticals Factory Company SA15QGU1UNH6 | 🇸🇦 SA | $2,6 Mrd. | B+ |
| 48 | Huadong Medicine Co. Ltd CNE0000011S1 | 🇨🇳 CN | $7,7 Mrd. | B+ |
| 49 | Siegfried Holding AG CH1429326825 | 🇨🇭 CH | $4,2 Mrd. | B+ |
| 50 | Livzon Pharmaceutical Group Inc. CNE0000002Y8 | 🇨🇳 CN | $4,0 Mrd. | B+ |
| 51 | Laurus Labs Limited INE947Q01028 | 🇮🇳 IN | $10,1 Mrd. | B+ |
| 52 | Mega Lifesciences Public Company Limited TH4984010009 | 🇹🇭 TH | $990 Mio. | B+ |
| 53 | Tsumura & Co. JP3535800001 | 🇯🇵 JP | $1,7 Mrd. | B+ |
| 54 | Betta Pharmaceuticals Co. Ltd. CNE100002DD9 | 🇨🇳 CN | $4,4 Mrd. | B+ |
| 55 | The United Laboratories International Holdings Limited KYG8813K1085 | 🇭🇰 HK | $2,2 Mrd. | B+ |
| 56 | China Resources Double-Crane Pharmaceutical Co.Ltd. CNE000000Q94 | 🇨🇳 CN | $2,5 Mrd. | B+ |
| 57 | China Medical System Holdings Limited KYG211081248 | 🇭🇰 HK | $3,7 Mrd. | B+ |
| 58 | China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. CNE0000011K8 | 🇨🇳 CN | $6,0 Mrd. | B+ |
| 59 | Ajanta Pharma Limited INE031B01049 | 🇮🇳 IN | $4,8 Mrd. | B |
| 60 | Eton Pharmaceuticals Inc. US29772L1089 | 🇺🇸 US | $1,6 Mrd. | B |
| 61 | Zeria Pharmaceutical Co. Ltd. JP3428850006 | 🇯🇵 JP | $574 Mio. | B |
| 62 | Hansoh Pharmaceutical Group Company Limited KYG549581067 | 🇨🇳 CN | $25,5 Mrd. | B |
| 63 | Amneal Pharmaceuticals Inc. US03168L1052 | 🇺🇸 US | $5,9 Mrd. | B |
| 64 | ANI Pharmaceuticals Inc. US00182C1036 | 🇺🇸 US | $1,7 Mrd. | B |
| 65 | BioGaia AB (publ) SE0017769995 | 🇸🇪 SE | $1,2 Mrd. | B |
| 66 | Dermapharm Holding SE DE000A2GS5D8 | 🇩🇪 DE | $2,3 Mrd. | B |
| 67 | Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited CNE000001733 | 🇨🇳 CN | $5,1 Mrd. | B |
| 68 | Shanghai Fosun Pharmaceutical (Group) Co. Ltd. CNE000000X38 | 🇨🇳 CN | $9,4 Mrd. | B |
| 69 | Joincare Pharmaceutical Group Industry Co.Ltd. CNE000001816 | 🇨🇳 CN | $2,8 Mrd. | B |
| 70 | Cronos Group Inc. CA22717L1013 | 🇨🇦 CA | $1,2 Mrd. | B |
| 71 | Kissei Pharmaceutical Co. Ltd. JP3240600001 | 🇯🇵 JP | $1,1 Mrd. | B |
| 72 | NATCO Pharma Limited INE987B01026 | 🇮🇳 IN | $1,7 Mrd. | B |
| 73 | Neuland Laboratories Limited INE794A01010 | 🇮🇳 IN | $3,2 Mrd. | B |
| 74 | Mochida Pharmaceutical Co. Ltd. JP3922800002 | 🇯🇵 JP | $708 Mio. | B |
| 75 | Zhejiang Hisun Pharmaceutical Co. Ltd. CNE0000013Z2 | 🇨🇳 CN | $2,5 Mrd. | B |
| 76 | Jiangsu Hengrui Pharmaceuticals Co.Ltd CNE100006XS6 | 🇨🇳 CN | $45,4 Mrd. | B |
| 77 | Genomma Lab Internacional S.A.B. de C.V. MX01LA010006 | 🇲🇽 MX | $783 Mio. | B |
| 78 | Mankind Pharma Limited INE634S01028 | 🇮🇳 IN | $10,3 Mrd. | B |
| 79 | Amphastar Pharmaceuticals Inc. US03209R1032 | 🇺🇸 US | $920 Mio. | B |
| 80 | Fuji Pharma Co. Ltd. JP3816200004 | 🇯🇵 JP | $300 Mio. | B |
| 81 | Tasly Pharmaceutical Group Co. Ltd CNE000001C81 | 🇨🇳 CN | $3,4 Mrd. | B |
| 82 | DongKook Pharmaceutical Co. Ltd. KR7086450004 | 🇰🇷 KR | $610 Mio. | B |
| 83 | JW Pharmaceutical Corporation KR7001060003 | 🇰🇷 KR | $452 Mio. | B |
| 84 | Chengdu Kanghong Pharmaceutical Group Co. Ltd CNE1000020C4 | 🇨🇳 CN | $3,0 Mrd. | B |
| 85 | Strides Pharma Science Limited INE939A01011 | 🇮🇳 IN | $925 Mio. | B |
| 86 | Daito Pharmaceutical Co.Ltd. JP3486150000 | 🇯🇵 JP | $238 Mio. | B |
| 87 | Zhejiang Jiuzhou Pharmaceutical Co. Ltd CNE100001W36 | 🇨🇳 CN | $2,2 Mrd. | B |
| 88 | Nippon Shinyaku Co. Ltd. JP3717600005 | 🇯🇵 JP | $1,5 Mrd. | B |
| 89 | Eris Lifesciences Limited INE406M01024 | 🇮🇳 IN | $2,0 Mrd. | B |
| 90 | Saudi Pharmaceutical Industries and Medical Appliances Corporation SA0007879188 | 🇸🇦 SA | $982 Mio. | C |
| 91 | Korea United Pharm Inc. KR7033270000 | 🇰🇷 KR | $186 Mio. | C |
| 92 | Synmosa Biopharma Corporation TW0004114004 | 🇹🇼 TW | $509 Mio. | C |
| 93 | Lotus Pharmaceutical Co. Ltd. TW0001795003 | 🇹🇼 TW | $1,5 Mrd. | C |
| 94 | Hubei Jumpcan Pharmaceutical Co. Ltd. CNE0000018X6 | 🇨🇳 CN | $3,3 Mrd. | C |
| 95 | Kaken Pharmaceutical Co. Ltd. JP3207000005 | 🇯🇵 JP | $945 Mio. | C |
| 96 | Grape King Bio Ltd TW0001707008 | 🇹🇼 TW | $422 Mio. | C |
| 97 | Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited CNE000001808 | 🇨🇳 CN | $3,1 Mrd. | C |
| 98 | Nanjing King-Friend Biochemical Pharmaceutical Co.Ltd. CNE100002WP3 | 🇨🇳 CN | $1,9 Mrd. | C |
| 99 | YungShin Global Holding Corporation TW0003705000 | 🇹🇼 TW | $454 Mio. | C |
| 100 | Daewoong Co. Ltd. KR7003090008 | 🇰🇷 KR | $522 Mio. | C |
| 101 | Viatris Inc. US92556V1061 | 🇺🇸 US | $18,9 Mrd. | C |
| 102 | Aspen Pharmacare Holdings Limited ZAE000066692 | 🇿🇦 ZA | $3,9 Mrd. | C |
| 103 | Zhejiang Medicine Co. Ltd. CNE0000010J2 | 🇨🇳 CN | $1,9 Mrd. | C |
| 104 | PT Industri Jamu dan Farmasi Sido Muncul Tbk ID1000130305 | 🇮🇩 ID | $559 Mio. | C |
| 105 | Ironwood Pharmaceuticals Inc. US46333X1081 | 🇺🇸 US | $718 Mio. | C |
| 106 | Elanco Animal Health Incorporated US28414H1032 | 🇺🇸 US | $11,8 Mrd. | C |
| 107 | Almirall S.A. ES0157097017 | 🇪🇸 ES | $2,6 Mrd. | C |
| 108 | Shilpa Medicare Limited INE790G01031 | 🇮🇳 IN | $842 Mio. | C |
| 109 | Yuhan Corporation KR7000100008 | 🇰🇷 KR | $4,3 Mrd. | C |
| 110 | Sumitomo Pharma Co. Ltd. JP3495000006 | 🇯🇵 JP | $3,9 Mrd. | C |
| 111 | Hanmi Pharm. Co. Ltd. KR7128940004 | 🇰🇷 KR | $3,5 Mrd. | C |
| 112 | ASKA Pharmaceutical Holdings Co.Ltd. JP3119660003 | 🇯🇵 JP | $382 Mio. | C |
| 113 | Daewoong pharmaceutical Co.Ltd KR7069620003 | 🇰🇷 KR | $969 Mio. | C |
| 114 | Towa Pharmaceutical Co. Ltd. JP3623150004 | 🇯🇵 JP | $1,2 Mrd. | C |
| 115 | Pacira BioSciences Inc. US6951271005 | 🇺🇸 US | $914 Mio. | C |
| 116 | Supernus Pharmaceuticals Inc. US8684591089 | 🇺🇸 US | $2,8 Mrd. | C |
| 117 | Wockhardt Limited INE049B01025 | 🇮🇳 IN | $3,3 Mrd. | C |
| 118 | Dong-A Socio Holdings Co. Ltd. KR7000640003 | 🇰🇷 KR | $428 Mio. | C |
| 119 | Humedix Co. Ltd. KR7200670008 | 🇰🇷 KR | $212 Mio. | C |
| 120 | Phibro Animal Health Corporation US71742Q1067 | 🇺🇸 US | $1,4 Mrd. | C |
| 121 | Piramal Pharma Limited INE0DK501011 | 🇮🇳 IN | $2,8 Mrd. | C |
| 122 | PolyPeptide Group AG CH1110760852 | 🇨🇭 CH | $1,8 Mrd. | C |
| 123 | Bora Pharmaceuticals Co. Ltd. TW0006472004 | 🇹🇼 TW | $1,7 Mrd. | D |
| 124 | Alembic Pharmaceuticals Limited INE901L01018 | 🇮🇳 IN | $1,7 Mrd. | D |
| 125 | Jubilant Pharmova Limited INE700A01033 | 🇮🇳 IN | $1,4 Mrd. | D |
| 126 | Evolus Inc. US30052C1071 | 🇺🇸 US | $537 Mio. | D |
| 127 | Sawai Group Holdings Co. Ltd. JP3323040000 | 🇯🇵 JP | $1,2 Mrd. | D |
| 128 | Ildong Pharmaceutical Co. Ltd. KR7249420001 | 🇰🇷 KR | $327 Mio. | D |
| 129 | Harrow Health Inc. US4158581094 | 🇺🇸 US | $1,5 Mrd. | D |
| 130 | Zhejiang Huahai Pharmaceutical Co. Ltd. CNE000001DL5 | 🇨🇳 CN | $3,9 Mrd. | D |
| 131 | Shandong Buchang Pharmaceuticals Co. Ltd. CNE100002FV6 | 🇨🇳 CN | $2,5 Mrd. | D |
| 132 | Aarti Pharmalabs Limited INE0LRU01027 | 🇮🇳 IN | $812 Mio. | D |
| 133 | Center Laboratories Inc. TW0004123005 | 🇹🇼 TW | $755 Mio. | D |
| 134 | Embecta Corp. US29082K1051 | 🇺🇸 US | $303 Mio. | D |
| 135 | Huons Co. Ltd. KR7243070000 | 🇰🇷 KR | $209 Mio. | D |
| 136 | KYORIN Holdings Inc. JP3247090008 | 🇯🇵 JP | $400 Mio. | D |
| 137 | Walvax Biotechnology Co. Ltd. CNE100000WN2 | 🇨🇳 CN | $3,2 Mrd. | D |
| 138 | Celltrion Pharm Inc. KR7068760008 | 🇰🇷 KR | $1,3 Mrd. | D |
| 139 | Porton Pharma Solutions Ltd. CNE100001S57 | 🇨🇳 CN | $1,8 Mrd. | D |
| 140 | China Traditional Chinese Medicine Holdings Co. Limited HK0000056256 | 🇭🇰 HK | $902 Mio. | D |
| 141 | Kwang Dong Pharmaceutical Co. Ltd. KR7009290008 | 🇰🇷 KR | $218 Mio. | D |
| 142 | Collegium Pharmaceutical Inc. US19459J1043 | 🇺🇸 US | $910 Mio. | D |
| 143 | Shenzhen Kangtai Biological Products Co. Ltd. CNE100002Q33 | 🇨🇳 CN | $2,1 Mrd. | D |
| 144 | EIS Eczacibasi Ilaç Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S. TRAECILC91E0 | 🇹🇷 TR | $1,1 Mrd. | D |
| 145 | HUTCHMED (China) Limited KYG4672N1198 | 🇭🇰 HK | $2,2 Mrd. | D |
| 146 | Organogenesis Holdings Inc. US68621F1021 | 🇺🇸 US | $221 Mio. | D |
| 147 | Bausch Health Companies Inc. CA0717341071 | 🇨🇦 CA | $2,5 Mrd. | D |
| 148 | Perrigo Company plc IE00BGH1M568 | 🇮🇪 IE | $1,8 Mrd. | D |
| 149 | Sihuan Pharmaceutical Holdings Group Ltd. BMG8162K1137 | 🇭🇰 HK | $1,0 Mrd. | D |
| 150 | Alpha Teknova Inc. US02080L1026 | 🇺🇸 US | $391 Mio. | D |
| 151 | Alvotech LU2458332611 | 🇱🇺 LU | $1,3 Mrd. | D |
| 152 | AstraZeneca Pharma India Limited INE203A01020 | 🇮🇳 IN | $2,0 Mrd. | D |
| 153 | Bukwang Pharmaceutical Co. Ltd. KR7003000007 | 🇰🇷 KR | $301 Mio. | D |
| 154 | EuBiologics Co. Ltd. KR7206650004 | 🇰🇷 KR | $245 Mio. | D |
| 155 | Dong-A ST Co. Ltd. KR7170900005 | 🇰🇷 KR | $256 Mio. | D |
| 156 | Curaleaf Holdings Inc. CA23126M3003 | 🇺🇸 US | $2,2 Mrd. | D |
| 157 | Aurora Cannabis Inc. CA05156X8504 | 🇨🇦 CA | $223 Mio. | D |
| 158 | Tilray Brands Inc. US88688T2096 | 🇨🇦 CA | $522 Mio. | D |
| 159 | Organigram Global Inc. CA68617J1003 | 🇨🇦 CA | $172 Mio. | D |
| 160 | Shinpoong Pharmaceutical Co. Ltd. KR7019170000 | 🇰🇷 KR | $311 Mio. | D |
| 161 | TerrAscend Corp. CA88105E1088 | 🇨🇦 CA | $181 Mio. | D |
| 162 | Yungjin Pharm. Co. Ltd. KR7003520004 | 🇰🇷 KR | $161 Mio. | D |
| 163 | Evotec SE DE0005664809 | 🇩🇪 DE | $709 Mio. | D |
| 164 | Aquestive Therapeutics Inc. US03843E1047 | 🇺🇸 US | $538 Mio. | D |
| 165 | Canopy Growth Corporation CA1380357048 | 🇨🇦 CA | $422 Mio. | D |
| 166 | SIGA Technologies Inc. US8269171067 | 🇺🇸 US | $215 Mio. | D |
| 167 | Zhejiang Hisoar Pharmaceutical Co. Ltd. CNE000001PY2 | 🇨🇳 CN | $1,3 Mrd. | D |
| 1 | Merck KGaA DE0006599905 | 🇩🇪 DE | $68,6 Mrd. | A+ |
| 2 | Takeda Pharmaceutical Company Limited JP3463000004 | 🇯🇵 JP | $55,4 Mrd. | A |
| 3 | Jiangsu Hengrui Medicine Co. Ltd. CNE0000014W7 | 🇨🇳 CN | $50,0 Mrd. | B+ |
| 4 | Galderma Group AG CH1335392721 | 🇨🇭 CH | $49,7 Mrd. | A+ |
| 5 | Sun Pharmaceutical Industries Limited INE044A01036 | 🇮🇳 IN | $48,2 Mrd. | A |
| 6 | Jiangsu Hengrui Pharmaceuticals Co.Ltd CNE100006XS6 | 🇨🇳 CN | $45,4 Mrd. | B |
| 7 | Teva Pharmaceutical Industries Limited US8816242098 | 🇮🇱 IL | $42,8 Mrd. | A |
| 8 | Haleon plc GB00BMX86B70 | 🇬🇧 GB | $41,8 Mrd. | A |
| 9 | Sandoz Group AG CH1243598427 | 🇨🇭 CH | $40,0 Mrd. | A |
| 10 | Hansoh Pharmaceutical Group Company Limited KYG549581067 | 🇨🇳 CN | $25,5 Mrd. | B |
| 11 | Divis Laboratories Limited INE361B01024 | 🇮🇳 IN | $23,7 Mrd. | A |
| 12 | Torrent Pharmaceuticals Limited INE685A01028 | 🇮🇳 IN | $19,3 Mrd. | A |
| 13 | Viatris Inc. US92556V1061 | 🇺🇸 US | $18,9 Mrd. | C |
| 14 | PharmaEssentia Corporation TW0006446008 | 🇹🇼 TW | $18,3 Mrd. | A+ |
| 15 | Ipsen S.A. FR0010259150 | 🇫🇷 FR | $15,5 Mrd. | A |
| 16 | Shionogi & Co. Ltd. JP3347200002 | 🇯🇵 JP | $14,9 Mrd. | A+ |
| 17 | Yunnan Baiyao Group Co.Ltd CNE0000008X7 | 🇨🇳 CN | $13,2 Mrd. | B+ |
| 18 | Zhejiang NHU Company Ltd. CNE000001J84 | 🇨🇳 CN | $13,1 Mrd. | B+ |
| 19 | Zydus Lifesciences Limited INE010B01027 | 🇮🇳 IN | $11,9 Mrd. | A |
| 20 | Elanco Animal Health Incorporated US28414H1032 | 🇺🇸 US | $11,8 Mrd. | C |
| 21 | Lupin Limited INE326A01037 | 🇮🇳 IN | $10,7 Mrd. | A+ |
| 22 | Dr. Reddys Laboratories Limited INE089A01031 | 🇮🇳 IN | $10,6 Mrd. | A |
| 23 | Mankind Pharma Limited INE634S01028 | 🇮🇳 IN | $10,3 Mrd. | B |
| 24 | Laurus Labs Limited INE947Q01028 | 🇮🇳 IN | $10,1 Mrd. | B+ |
| 25 | Aurobindo Pharma Limited INE406A01037 | 🇮🇳 IN | $9,8 Mrd. | A+ |
| 26 | Shanghai Fosun Pharmaceutical (Group) Co. Ltd. CNE000000X38 | 🇨🇳 CN | $9,4 Mrd. | B |
| 27 | Eisai Co. Ltd. JP3160400002 | 🇯🇵 JP | $8,4 Mrd. | B+ |
| 28 | Huadong Medicine Co. Ltd CNE0000011S1 | 🇨🇳 CN | $7,7 Mrd. | B+ |
| 29 | Glenmark Pharmaceuticals Limited INE935A01035 | 🇮🇳 IN | $7,1 Mrd. | B+ |
| 30 | Alkem Laboratories Limited INE540L01014 | 🇮🇳 IN | $6,7 Mrd. | A |
| 31 | Lantheus Holdings Inc. US5165441032 | 🇺🇸 US | $6,6 Mrd. | A+ |
| 32 | China Resources Sanjiu Medical & Pharmaceutical Co. Ltd. CNE0000011K8 | 🇨🇳 CN | $6,0 Mrd. | B+ |
| 33 | Amneal Pharmaceuticals Inc. US03168L1052 | 🇺🇸 US | $5,9 Mrd. | B |
| 34 | H. Lundbeck A/S DK0061804770 | 🇩🇰 DK | $5,3 Mrd. | A |
| 35 | Gland Pharma Limited INE068V01023 | 🇮🇳 IN | $5,1 Mrd. | A |
| 36 | Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited CNE000001733 | 🇨🇳 CN | $5,1 Mrd. | B |
| 37 | Ipca Laboratories Limited INE571A01038 | 🇮🇳 IN | $5,0 Mrd. | A |
| 38 | Dong-E-E-Jiao Co.Ltd. CNE0000006Y9 | 🇨🇳 CN | $4,9 Mrd. | A+ |
| 39 | Indivior Pharmaceuticals Inc US45579U1097 | 🇺🇸 US | $4,9 Mrd. | B+ |
| 40 | Ajanta Pharma Limited INE031B01049 | 🇮🇳 IN | $4,8 Mrd. | B |
| 41 | Hikma Pharmaceuticals PLC GB00B0LCW083 | 🇬🇧 GB | $4,6 Mrd. | B+ |
| 42 | Betta Pharmaceuticals Co. Ltd. CNE100002DD9 | 🇨🇳 CN | $4,4 Mrd. | B+ |
| 43 | Yuhan Corporation KR7000100008 | 🇰🇷 KR | $4,3 Mrd. | C |
| 44 | Siegfried Holding AG CH1429326825 | 🇨🇭 CH | $4,2 Mrd. | B+ |
| 45 | Livzon Pharmaceutical Group Inc. CNE0000002Y8 | 🇨🇳 CN | $4,0 Mrd. | B+ |
| 46 | Aspen Pharmacare Holdings Limited ZAE000066692 | 🇿🇦 ZA | $3,9 Mrd. | C |
| 47 | Sumitomo Pharma Co. Ltd. JP3495000006 | 🇯🇵 JP | $3,9 Mrd. | C |
| 48 | Zhejiang Huahai Pharmaceutical Co. Ltd. CNE000001DL5 | 🇨🇳 CN | $3,9 Mrd. | D |
| 49 | Emcure Pharmaceuticals Ltd. INE168P01015 | 🇮🇳 IN | $3,8 Mrd. | A+ |
| 50 | Apeloa Pharmaceutical Co.Ltd CNE000000Q45 | 🇨🇳 CN | $3,8 Mrd. | A |
| 51 | China Medical System Holdings Limited KYG211081248 | 🇭🇰 HK | $3,7 Mrd. | B+ |
| 52 | Hanmi Pharm. Co. Ltd. KR7128940004 | 🇰🇷 KR | $3,5 Mrd. | C |
| 53 | Laboratorios Farmaceuticos Rovi S.A. ES0157261019 | 🇪🇸 ES | $3,4 Mrd. | A |
| 54 | Tasly Pharmaceutical Group Co. Ltd CNE000001C81 | 🇨🇳 CN | $3,4 Mrd. | B |
| 55 | Hubei Jumpcan Pharmaceutical Co. Ltd. CNE0000018X6 | 🇨🇳 CN | $3,3 Mrd. | C |
| 56 | Wockhardt Limited INE049B01025 | 🇮🇳 IN | $3,3 Mrd. | C |
| 57 | Jiangsu Nhwa Pharmaceutical Co. Ltd. CNE100000CG8 | 🇨🇳 CN | $3,3 Mrd. | B+ |
| 58 | Jilin Aodong Pharmaceutical Group Co. Ltd. CNE000000719 | 🇨🇳 CN | $3,2 Mrd. | B+ |
| 59 | Neuland Laboratories Limited INE794A01010 | 🇮🇳 IN | $3,2 Mrd. | B |
| 60 | Walvax Biotechnology Co. Ltd. CNE100000WN2 | 🇨🇳 CN | $3,2 Mrd. | D |
| 61 | Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited CNE000001808 | 🇨🇳 CN | $3,1 Mrd. | C |
| 62 | Chengdu Kanghong Pharmaceutical Group Co. Ltd CNE1000020C4 | 🇨🇳 CN | $3,0 Mrd. | B |
| 63 | Hypera S.A. BRHYPEACNOR0 | 🇧🇷 BR | $2,8 Mrd. | A |
| 64 | Piramal Pharma Limited INE0DK501011 | 🇮🇳 IN | $2,8 Mrd. | C |
| 65 | Supernus Pharmaceuticals Inc. US8684591089 | 🇺🇸 US | $2,8 Mrd. | C |
| 66 | Joincare Pharmaceutical Group Industry Co.Ltd. CNE000001816 | 🇨🇳 CN | $2,8 Mrd. | B |
| 67 | Almirall S.A. ES0157097017 | 🇪🇸 ES | $2,6 Mrd. | C |
| 68 | Jamjoom Pharmaceuticals Factory Company SA15QGU1UNH6 | 🇸🇦 SA | $2,6 Mrd. | B+ |
| 69 | Shandong Buchang Pharmaceuticals Co. Ltd. CNE100002FV6 | 🇨🇳 CN | $2,5 Mrd. | D |
| 70 | Zhejiang Hisun Pharmaceutical Co. Ltd. CNE0000013Z2 | 🇨🇳 CN | $2,5 Mrd. | B |
| 71 | China Resources Double-Crane Pharmaceutical Co.Ltd. CNE000000Q94 | 🇨🇳 CN | $2,5 Mrd. | B+ |
| 72 | Bausch Health Companies Inc. CA0717341071 | 🇨🇦 CA | $2,5 Mrd. | D |
| 73 | Dermapharm Holding SE DE000A2GS5D8 | 🇩🇪 DE | $2,3 Mrd. | B |
| 74 | China Resources Jiangzhong Pharmaceutical Co.Ltd CNE000000M80 | 🇨🇳 CN | $2,2 Mrd. | B+ |
| 75 | Zhejiang Jiuzhou Pharmaceutical Co. Ltd CNE100001W36 | 🇨🇳 CN | $2,2 Mrd. | B |
| 76 | Granules India Limited INE101D01020 | 🇮🇳 IN | $2,2 Mrd. | A+ |
| 77 | HUTCHMED (China) Limited KYG4672N1198 | 🇭🇰 HK | $2,2 Mrd. | D |
| 78 | Curaleaf Holdings Inc. CA23126M3003 | 🇺🇸 US | $2,2 Mrd. | D |
| 79 | The United Laboratories International Holdings Limited KYG8813K1085 | 🇭🇰 HK | $2,2 Mrd. | B+ |
| 80 | Shenzhen Kangtai Biological Products Co. Ltd. CNE100002Q33 | 🇨🇳 CN | $2,1 Mrd. | D |
| 81 | Caplin Point Laboratories Ltd. INE475E01026 | 🇮🇳 IN | $2,0 Mrd. | A |
| 82 | AstraZeneca Pharma India Limited INE203A01020 | 🇮🇳 IN | $2,0 Mrd. | D |
| 83 | Eris Lifesciences Limited INE406M01024 | 🇮🇳 IN | $2,0 Mrd. | B |
| 84 | Nanjing King-Friend Biochemical Pharmaceutical Co.Ltd. CNE100002WP3 | 🇨🇳 CN | $1,9 Mrd. | C |
| 85 | Fagron N.V. BE0003874915 | 🇧🇪 BE | $1,9 Mrd. | B+ |
| 86 | Zhejiang Medicine Co. Ltd. CNE0000010J2 | 🇨🇳 CN | $1,9 Mrd. | C |
| 87 | PolyPeptide Group AG CH1110760852 | 🇨🇭 CH | $1,8 Mrd. | C |
| 88 | Alivus Life Sciences Limited INE03Q201024 | 🇮🇳 IN | $1,8 Mrd. | A |
| 89 | Perrigo Company plc IE00BGH1M568 | 🇮🇪 IE | $1,8 Mrd. | D |
| 90 | Porton Pharma Solutions Ltd. CNE100001S57 | 🇨🇳 CN | $1,8 Mrd. | D |
| 91 | Tsumura & Co. JP3535800001 | 🇯🇵 JP | $1,7 Mrd. | B+ |
| 92 | ANI Pharmaceuticals Inc. US00182C1036 | 🇺🇸 US | $1,7 Mrd. | B |
| 93 | Alembic Pharmaceuticals Limited INE901L01018 | 🇮🇳 IN | $1,7 Mrd. | D |
| 94 | Bora Pharmaceuticals Co. Ltd. TW0006472004 | 🇹🇼 TW | $1,7 Mrd. | D |
| 95 | NATCO Pharma Limited INE987B01026 | 🇮🇳 IN | $1,7 Mrd. | B |
| 96 | Faes Farma S.A. ES0134950F36 | 🇪🇸 ES | $1,6 Mrd. | B+ |
| 97 | Eton Pharmaceuticals Inc. US29772L1089 | 🇺🇸 US | $1,6 Mrd. | B |
| 98 | Nippon Shinyaku Co. Ltd. JP3717600005 | 🇯🇵 JP | $1,5 Mrd. | B |
| 99 | Lotus Pharmaceutical Co. Ltd. TW0001795003 | 🇹🇼 TW | $1,5 Mrd. | C |
| 100 | Harrow Health Inc. US4158581094 | 🇺🇸 US | $1,5 Mrd. | D |
| 101 | Consun Pharmaceutical Group Limited KYG2524A1031 | 🇨🇳 CN | $1,4 Mrd. | A |
| 102 | Jubilant Pharmova Limited INE700A01033 | 🇮🇳 IN | $1,4 Mrd. | D |
| 103 | Phibro Animal Health Corporation US71742Q1067 | 🇺🇸 US | $1,4 Mrd. | C |
| 104 | Celltrion Pharm Inc. KR7068760008 | 🇰🇷 KR | $1,3 Mrd. | D |
| 105 | Zhejiang Hisoar Pharmaceutical Co. Ltd. CNE000001PY2 | 🇨🇳 CN | $1,3 Mrd. | D |
| 106 | Alvotech LU2458332611 | 🇱🇺 LU | $1,3 Mrd. | D |
| 107 | BioGaia AB (publ) SE0017769995 | 🇸🇪 SE | $1,2 Mrd. | B |
| 108 | Cronos Group Inc. CA22717L1013 | 🇨🇦 CA | $1,2 Mrd. | B |
| 109 | Sawai Group Holdings Co. Ltd. JP3323040000 | 🇯🇵 JP | $1,2 Mrd. | D |
| 110 | Towa Pharmaceutical Co. Ltd. JP3623150004 | 🇯🇵 JP | $1,2 Mrd. | C |
| 111 | EIS Eczacibasi Ilaç Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S. TRAECILC91E0 | 🇹🇷 TR | $1,1 Mrd. | D |
| 112 | Kissei Pharmaceutical Co. Ltd. JP3240600001 | 🇯🇵 JP | $1,1 Mrd. | B |
| 113 | Procter & Gamble Health Limited INE199A01012 | 🇮🇳 IN | $1,0 Mrd. | B+ |
| 114 | Sihuan Pharmaceutical Holdings Group Ltd. BMG8162K1137 | 🇭🇰 HK | $1,0 Mrd. | D |
| 115 | Mega Lifesciences Public Company Limited TH4984010009 | 🇹🇭 TH | $990 Mio. | B+ |
| 116 | Saudi Pharmaceutical Industries and Medical Appliances Corporation SA0007879188 | 🇸🇦 SA | $982 Mio. | C |
| 117 | Daewoong pharmaceutical Co.Ltd KR7069620003 | 🇰🇷 KR | $969 Mio. | C |
| 118 | Kaken Pharmaceutical Co. Ltd. JP3207000005 | 🇯🇵 JP | $945 Mio. | C |
| 119 | Strides Pharma Science Limited INE939A01011 | 🇮🇳 IN | $925 Mio. | B |
| 120 | Amphastar Pharmaceuticals Inc. US03209R1032 | 🇺🇸 US | $920 Mio. | B |
| 121 | Pharmanutra S.p.A. IT0005274094 | 🇮🇹 IT | $918 Mio. | A |
| 122 | Pacira BioSciences Inc. US6951271005 | 🇺🇸 US | $914 Mio. | C |
| 123 | Collegium Pharmaceutical Inc. US19459J1043 | 🇺🇸 US | $910 Mio. | D |
| 124 | China Traditional Chinese Medicine Holdings Co. Limited HK0000056256 | 🇭🇰 HK | $902 Mio. | D |
| 125 | Shilpa Medicare Limited INE790G01031 | 🇮🇳 IN | $842 Mio. | C |
| 126 | Aarti Pharmalabs Limited INE0LRU01027 | 🇮🇳 IN | $812 Mio. | D |
| 127 | Genomma Lab Internacional S.A.B. de C.V. MX01LA010006 | 🇲🇽 MX | $783 Mio. | B |
| 128 | China Shineway Pharmaceutical Group Limited KYG2110P1000 | 🇨🇳 CN | $774 Mio. | B+ |
| 129 | Center Laboratories Inc. TW0004123005 | 🇹🇼 TW | $755 Mio. | D |
| 130 | Ironwood Pharmaceuticals Inc. US46333X1081 | 🇺🇸 US | $718 Mio. | C |
| 131 | Evotec SE DE0005664809 | 🇩🇪 DE | $709 Mio. | D |
| 132 | Mochida Pharmaceutical Co. Ltd. JP3922800002 | 🇯🇵 JP | $708 Mio. | B |
| 133 | DongKook Pharmaceutical Co. Ltd. KR7086450004 | 🇰🇷 KR | $610 Mio. | B |
| 134 | TTY Biopharm Company Limited TW0004105002 | 🇹🇼 TW | $594 Mio. | B+ |
| 135 | Zeria Pharmaceutical Co. Ltd. JP3428850006 | 🇯🇵 JP | $574 Mio. | B |
| 136 | PT Industri Jamu dan Farmasi Sido Muncul Tbk ID1000130305 | 🇮🇩 ID | $559 Mio. | C |
| 137 | Aquestive Therapeutics Inc. US03843E1047 | 🇺🇸 US | $538 Mio. | D |
| 138 | Evolus Inc. US30052C1071 | 🇺🇸 US | $537 Mio. | D |
| 139 | Tilray Brands Inc. US88688T2096 | 🇨🇦 CA | $522 Mio. | D |
| 140 | Daewoong Co. Ltd. KR7003090008 | 🇰🇷 KR | $522 Mio. | C |
| 141 | Synmosa Biopharma Corporation TW0004114004 | 🇹🇼 TW | $509 Mio. | C |
| 142 | YungShin Global Holding Corporation TW0003705000 | 🇹🇼 TW | $454 Mio. | C |
| 143 | JW Pharmaceutical Corporation KR7001060003 | 🇰🇷 KR | $452 Mio. | B |
| 144 | Dong-A Socio Holdings Co. Ltd. KR7000640003 | 🇰🇷 KR | $428 Mio. | C |
| 145 | Canopy Growth Corporation CA1380357048 | 🇨🇦 CA | $422 Mio. | D |
| 146 | Grape King Bio Ltd TW0001707008 | 🇹🇼 TW | $422 Mio. | C |
| 147 | KYORIN Holdings Inc. JP3247090008 | 🇯🇵 JP | $400 Mio. | D |
| 148 | Alpha Teknova Inc. US02080L1026 | 🇺🇸 US | $391 Mio. | D |
| 149 | ASKA Pharmaceutical Holdings Co.Ltd. JP3119660003 | 🇯🇵 JP | $382 Mio. | C |
| 150 | Ildong Pharmaceutical Co. Ltd. KR7249420001 | 🇰🇷 KR | $327 Mio. | D |
| 151 | Shinpoong Pharmaceutical Co. Ltd. KR7019170000 | 🇰🇷 KR | $311 Mio. | D |
| 152 | Embecta Corp. US29082K1051 | 🇺🇸 US | $303 Mio. | D |
| 153 | Bukwang Pharmaceutical Co. Ltd. KR7003000007 | 🇰🇷 KR | $301 Mio. | D |
| 154 | Fuji Pharma Co. Ltd. JP3816200004 | 🇯🇵 JP | $300 Mio. | B |
| 155 | Dong-A ST Co. Ltd. KR7170900005 | 🇰🇷 KR | $256 Mio. | D |
| 156 | EuBiologics Co. Ltd. KR7206650004 | 🇰🇷 KR | $245 Mio. | D |
| 157 | Daito Pharmaceutical Co.Ltd. JP3486150000 | 🇯🇵 JP | $238 Mio. | B |
| 158 | Aurora Cannabis Inc. CA05156X8504 | 🇨🇦 CA | $223 Mio. | D |
| 159 | Organogenesis Holdings Inc. US68621F1021 | 🇺🇸 US | $221 Mio. | D |
| 160 | Kwang Dong Pharmaceutical Co. Ltd. KR7009290008 | 🇰🇷 KR | $218 Mio. | D |
| 161 | SIGA Technologies Inc. US8269171067 | 🇺🇸 US | $215 Mio. | D |
| 162 | Humedix Co. Ltd. KR7200670008 | 🇰🇷 KR | $212 Mio. | C |
| 163 | Huons Co. Ltd. KR7243070000 | 🇰🇷 KR | $209 Mio. | D |
| 164 | Korea United Pharm Inc. KR7033270000 | 🇰🇷 KR | $186 Mio. | C |
| 165 | TerrAscend Corp. CA88105E1088 | 🇨🇦 CA | $181 Mio. | D |
| 166 | Organigram Global Inc. CA68617J1003 | 🇨🇦 CA | $172 Mio. | D |
| 167 | Yungjin Pharm. Co. Ltd. KR7003520004 | 🇰🇷 KR | $161 Mio. | D |