Surprisingly, the top pharmaceutical manufacturer on Fortune’s Fastest-Growing Companies ranking for 2015 makes generic drugs and, unsurprisingly, Gilead Sciences, also ranks in the top 10.
Read next: Major safety concerns with top-selling presctription drugs
The top 5 fastest-growing pharmaceutical manufacturers in the United States, according to Fortune, are:
1. Lannett Company in Philadelphia, which develops generic drugs for a wide range of diseases, is the fastest growing company overall on Fortune’s list this year. The company achieved 9 consecutive quarters of record net sales and a 3-year annual growth rate for earnings per share (EPS) of 314%. “The generics industry continues to enjoy a period of unprecedented pricing prosperity. Nowhere do we see that more evident than in Lannett’s financials, which continue to benefit from major pricing leverage on key limited competition generics,” analyst Elliot Wilbur of Needham & Co. wrote in a note to clients in November. Lannett also has a number of new generic drug approvals in the pipeline, including 21 Abbreviated New Drug Applications and another 43 drugs in various stages of development, according to Fortune.
2. Gilead Sciences in Foster City, Calif., is ranked ninth on Fortune’s list, thanks primarily to bountiful sales of its Harvoni and Sovaldi hepatitis C drugs. Its EPS 3-year annual growth rate is a whopping 67%. In its most recent quarter, Gilead earnings soared 25.8% to $8.22 billion, higher than analyst estimates of $7.60 billion. Sales of its antiviral drugs rose to $7.6 billion for the second quarter of 2015, up from $6.0 billion for the second quarter of 2014, primarily due to sales of Harvoni, according to a statement from Gilead.
Internal server error
