The Canadian pharmaceutical market is the 10th largest in the world. What are the biggest pharma stocks on the TSX and TSXV?
The Canadian pharmaceutical market is the 10th largest in the world and accounts for 2 percent of the global prescription drug market. But what are the biggest Canadian pharma stocks?
Many of the most successful Canadian drug companies are in the late stages of clinical trials, have brought pharmaceutical products to market or have partnered with other companies to develop and market products, both in Canada and globally. Interestingly, out of all the Group of Seven countries, Canada has the lowest production cost index in the pharmaceutical industry.
To help investors be aware of major players, the Investing News Network has profiled the five biggest Canadian pharma stocks on both the TSX and TSXV in terms of market capitalization. This list was compiled using TradingView’s stock screener, and all data was accurate as of January 28, 2021.
1. Bausch Health Companies (TSX:BHC,NYSE:BHC)
Market cap: C$11.25 billion; current share price: C$32.23
Based in Laval, Quebec, Bausch Health Companies develops, manufactures and markets a range of pharma, medical device and over-the-counter products primarily for the therapeutic areas of eye health, gastroenterology and dermatology. It has manufacturing facilities in Manitoba, Ontario and Quebec.
In late December 2020, Poland’s Office for Registration of Medicinal Products, Medical Devices and Biocidal Products granted Bausch Health an additional new indication for its Dexaven (dexamethasone phosphate) solution for the treatment of COVID-19 in adult and adolescent patients who require oxygen therapy. Dexaven is a corticosteroid that reduces inflammation.
2. Aurinia Pharmaceuticals (TSX:AUP,NASDAQ:AUPH)
Market cap: C$2.59 billion; current share price: C$21.26
Headquartered in Victoria, British Columbia, Aurinia Pharmaceuticals is a late-stage clinical biopharmaceutical company that is developing and commercializing therapies targeting the treatment of patient populations suffering from serious diseases and with unmet medical needs.
The company recently received US Food and Drug Administration (FDA) approval for Lupkynis (voclosporin), the first oral therapy dedicated for the treatment of adult patients with active lupus nephritis. Lupkynis is approved in combination with a background immunosuppressive therapy regimen. Lupus nephritis is one of the most serious and common complications of the autoimmune disease systemic lupus erythematosus.
3. Jamieson Wellness (TSX:JWEL)
Market cap: C$1.44 billion; current share price: C$35.88
Established in 1922, Jamieson Wellness is a Canadian brand that manufactures, distributes and markets natural health products in Canada and internationally. The company’s product lines include sports nutrition and specialty supplements under its Progressive, Precision and Iron Vegan brands.
In late 2020, Jamieson reported that its revenue increased 19.2 percent to C$105.6 million in the third quarter of the year, compared to C$88.6 million in the third quarter of 2019. The rise in the Canadian pharma stock’s revenue was attributed to a 17.7 percent sales increase for its Jamieson Brands segment and 25 percent growth from strategic partnerships.
4. ImmunoPrecise Antibodies (TSXV:IPA,NASDAQ:IPA)
Market cap: C$337.853 million; current share price: C$21.56
ImmunoPrecise Antibodies is a global technology platform company that offers full-service solutions, including custom therapeutic antibodies for pharmaceutical companies researching and developing disease therapies. The Canadian pharma stock’s services help reduce the time required for product development, and mitigate the risks associated with this process.
In response to the COVID-19 pandemic, ImmunoPrecise joined the COVABELP consortium, which is comprised of Radboud University Medical Center and Eindhoven University of Technology. The two academic institutions “have been awarded €350,000 from Health Holland under the Eureka Program to develop a SARS-CoV-2-specific therapeutic nanomedicine that is administered via nasal inhalation and that can also be used for in vitro diagnostics.”
5. Sernova (TSXV:SVA,OTCQB:SEOVF)
Market cap: C$329.06 million; current share price: C$1.48
Sernova is a clinical-stage regenerative medicine therapeutics company that develops technologies for the treatment of chronic debilitating diseases, including insulin-dependent (Type 1) diabetes, hemophilia A and thyroid disease. The company’s main focus is the research and development of its proprietary Cell Pouch platform and associated technologies, such as immune-protected therapeutic cells.
In late January 2021, Canadian pharma stock Sernova announced that it has entered into multiple research collaboration agreements with leading global pharmaceutical companies. The agreements will see Sernova combine its in-house cell therapy expertise and Cell Pouch technology with the proprietary therapeutic cell assets designated by its pharmaceutical collaborators.
This is an updated version of an article first published by the Investing News Network in 2016.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.