Many successful Canadian drug companies are in the late stages of clinical trials, and some have also have brought pharmaceutical products to market or set up partnerships to develop products, both at home and globally.
Read on for a look at the five biggest Canadian pharma stocks by market cap; TSX- and TSXV-listed companies were considered, but only firms on the TSX were large enough to make the list.
Market cap: C$6.89 billion; current share price: C$20.05
Québec-based 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 the provinces of Manitoba, Ontario and Québec.
Market cap: C$1.11 billion; current share price: C$26.24
Jamieson Wellness manufactures, distributes and markets natural health products in Canada and internationally. Its product lines include sports nutrition and specialty supplements under its Progressive, Precision and Iron Vegan brands.
Looking forward to 2024, Jamieson’s consolidated revenue guidance is set in the range of C$720 million to C$760 million, based on forecast growth of 6.5 to 12.5 percent.
Market cap: C$576.67 million; current share price: C$5.76
Market cap: C$392 million; current share price: C$14.20
Fennec Pharmaceuticals is a late-stage biotech firm focused on improving the treatment of pediatric cancer patients. The company’s lead candidate, Pedmark, is a US Food and Drug Administration (FDA)-approved treatment for pediatric cancer patients experiencing hearing loss as a result of platinum-based chemotherapy.
Market cap: C$268.23 million; current share price: C$10.84
Last on this list of the biggest Canadian pharma stocks is commercial-stage medical device company Profound Medical, which is developing and marketing incision-free therapies for the ablation of diseased tissue.
The company is currently commercializing its TULSA-PRO system, which incorporates real-time MRI and robotics technology, for use in the surgical treatment of intermediate to advanced-stage prostate cancer. The technology has been approved by Health Canada and is 510(k) cleared by the FDA. Profound Medical is also working to commercialize Sonalleve, which has been CE marked for the treatment of uterine fibroids and palliative pain treatment of bone metastases. Sonalleve has also been approved by the China National Medical Products Administration for the non-invasive treatment of uterine fibroids, while the FDA has given it a Humanitarian Device Exemption for the treatment of osteoid osteoma.
This is an updated version of an article first published by the Investing News Network in 2016.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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