Research · refreshed nightly · August 17, 2026
Biotechs With Real Revenue (October 2026)
Science that already sells.
Biotech usually asks for faith; here are 36 biotechs with real revenue to show for the science. Alnylam Pharmaceuticals leads with an MGI of 76, growing sales 38% a year at a $44B cap, and the Danish bench runs deep, from ALK-Abello to Zealand Pharma, whose 143% annual revenue growth is the fastest in the group's top ten.
The lens rewards commercial traction, not pipeline promise, which is why steadier engines like United Therapeutics at 70 and Vertex at 62 rank alongside the rockets. A median MGI of 50 says the middle of this list is still proving its sales curve can outlast the first product. Click any name for the full citation-backed analysis.
50companies qualify
59median MGI
3joined this week
The ranking
Sorted by MGI
1
BillionToOne, Inc.BLLN🇺🇸
Revenue +77%/yr · +10%/yr per share · asset light
G 77V 58O 81Cap $5.0B
MGI
77
MVI
58
MTI
50
MOI
81
Cap
$5.0B
Growth
+64%2
Ascendis Pharma A/SASND🇩🇰
Revenue +167%/yr · +159%/yr per share · asset light
G 75V 55O 77Cap $18.3B
MGI
75
MVI
55
MTI
43
MOI
77
Cap
$18.3B
Growth
+144%3
Alnylam Pharmaceuticals, Inc.ALNY🇺🇸
Revenue +42%/yr · +37%/yr per share · asset light
G 73V 59O 77Cap $35.4B
MGI
73
MVI
59
MTI
40
MOI
77
Cap
$35.4B
Growth
+67%4
Caris Life Sciences, Inc.CAI🇺🇸
Revenue +48%/yr · -27%/yr per share · asset light
G 72V 58O 75Cap $5.6B
MGI
72
MVI
58
MTI
45
MOI
75
Cap
$5.6B
Growth
+45%5
argenx SEARGX🇳🇱
Revenue +58%/yr · +50%/yr per share · asset light
G 71V 57O 74Cap $55.6B
MGI
71
MVI
57
MTI
43
MOI
74
Cap
$55.6B
Growth
+60%6
Kuros Biosciences LtdKURN.CH🇨🇭
Revenue +63%/yr · +56%/yr per share · asset light
G 70V 58O 73Cap $1.1B
MGI
70
MVI
58
MTI
43
MOI
73
Cap
$1.1B
Growth
+72%7
United Therapeutics CorporationUTHR🇺🇸
Revenue +13%/yr · +14%/yr per share · asset light
G 70V 56O 72Cap $22.3B
MGI
70
MVI
56
MTI
55
MOI
72
Cap
$22.3B
Growth
-2%8
ChemoMetec A/SCHEMM.DK🇩🇰
Revenue +15%/yr · +15%/yr per share · asset light
G 66V 39O 62Cap $1.9B
MGI
66
MVI
39
MTI
42
MOI
62
Cap
$1.9B
Growth
+22%9
Vericel CorporationVCEL🇺🇸
Revenue +14%/yr · +12%/yr per share · asset light
G 66V 57O 69Cap $2.3B
MGI
66
MVI
57
MTI
38
MOI
69
Cap
$2.3B
Growth
+23%10
Halozyme Therapeutics, Inc.HALO🇺🇸
Revenue +30%/yr · +35%/yr per share · asset light
G 65V 63O 73Cap $10.1B
MGI
65
MVI
63
MTI
50
MOI
73
Cap
$10.1B
Growth
+48%11
PharmaNutra S.p.A.PHN.IT🇮🇹
Revenue +16%/yr · +16%/yr per share · asset light
G 65V 56O 67Cap $753.3M
MGI
65
MVI
56
MTI
35
MOI
67
Cap
$753.3M
Growth
+25%12
ALK-Abelló A/SALK.B.DK🇩🇰
Revenue +11%/yr · +11%/yr per share · asset light
G 65V 55O 68Cap $7.4B
MGI
65
MVI
55
MTI
32
MOI
68
Cap
$7.4B
Growth
+16%13
BioSyent Inc.RX.CA🇨🇦
Revenue +10%/yr · +12%/yr per share · asset light
G 65V 65O 70Cap $121.8M
MGI
65
MVI
65
MTI
37
MOI
70
Cap
$121.8M
Growth
+27%14
BeOne Medicines Ltd.6160.US🇺🇸
Revenue +39%/yr · +1%/yr per share · asset light
G 64V 59O 67Cap $36.9B
MGI
64
MVI
59
MTI
52
MOI
67
Cap
$36.9B
Growth
+39%15
Photocure ASAPHO.NO🇳🇴
Revenue +13%/yr · +14%/yr per share · asset light
G 64V 62O 67Cap $193.3M
MGI
64
MVI
62
MTI
46
MOI
67
Cap
$193.3M
Growth
+14%16
Zealand Pharma A/SZEAL.DK🇩🇰
Revenue +112%/yr · +92%/yr per share · asset light
G 63V 52O 64Cap $4.6B
MGI
63
MVI
52
MTI
60
MOI
64
Cap
$4.6B
Growth
+320%17
Tarsus Pharmaceuticals, Inc.TARS🇺🇸
Revenue +60%/yr · +38%/yr per share · asset light
G 63V 64O 67Cap $2.9B
MGI
63
MVI
64
MTI
45
MOI
67
Cap
$2.9B
Growth
+69%18
Protagonist Therapeutics, Inc.PTGX🇺🇸
Revenue +59%/yr · +48%/yr per share · asset light
G 63V 43O 61Cap $9.0B
MGI
63
MVI
43
MTI
44
MOI
61
Cap
$9.0B
Growth
+3749%19
Vertex Pharmaceuticals IncorporatedVRTX🇺🇸
Revenue +11%/yr · +11%/yr per share · asset light
G 62V 49O 61Cap $127.0B
MGI
62
MVI
49
MTI
38
MOI
61
Cap
$127.0B
Growth
+8%20
BioArctic ABBIOA.B.SE🇸🇪
Revenue +113%/yr · +113%/yr per share · asset light
G 62V 68O 67Cap $3.1B
MGI
62
MVI
68
MTI
44
MOI
67
Cap
$3.1B
Growth
-66%21
Gubra A/SGUBRA.DK🇩🇰
Revenue +73%/yr · -34%/yr per share · asset light
G 61V 64O 65Cap $1.3B
MGI
61
MVI
64
MTI
44
MOI
65
Cap
$1.3B
Growth
+892%22
Rigel Pharmaceuticals, Inc.RIGL🇺🇸
Revenue +13%/yr · +10%/yr per share · asset light
G 61V 72O 67Cap $759.1M
MGI
61
MVI
72
MTI
43
MOI
67
Cap
$759.1M
Growth
-23%23
Travere Therapeutics, Inc.TVTX🇺🇸
Revenue +35%/yr · +23%/yr per share · asset light
G 60V 60O 64Cap $5.6B
MGI
60
MVI
60
MTI
52
MOI
64
Cap
$5.6B
Growth
+48%24
Eton Pharmaceuticals, Inc.ETON🇺🇸
Revenue +37%/yr · +32%/yr per share · asset light
G 60V 42O 57Cap $1.6B
MGI
60
MVI
42
MTI
42
MOI
57
Cap
$1.6B
Growth
+40%25
BioGaia ABBIOG.B.SE🇸🇪
Revenue +15%/yr · +15%/yr per share · asset light
G 59V 55O 61Cap $1.2B
MGI
59
MVI
55
MTI
42
MOI
61
Cap
$1.2B
Growth
+20%26
Corcept Therapeutics Inc.CORT🇺🇸
Revenue +18%/yr · +20%/yr per share · asset light
G 59V 51O 59Cap $10.7B
MGI
59
MVI
51
MTI
48
MOI
59
Cap
$10.7B
Growth
+32%27
PTC Therapeutics, Inc.PTCT🇺🇸
Revenue +13%/yr · +9%/yr per share · asset light
G 58V 54O 59Cap $6.4B
MGI
58
MVI
54
MTI
44
MOI
59
Cap
$6.4B
Growth
-77%28
Cipher Pharmaceuticals Inc.CPH.CA🇨🇦
Revenue +18%/yr · +19%/yr per share · asset light
G 58V 67O 63Cap $259.6M
MGI
58
MVI
67
MTI
45
MOI
63
Cap
$259.6M
Growth
+4%29
Niagen Bioscience, Inc.NAGE🇺🇸
Revenue +14%/yr · +9%/yr per share · asset light
G 58V 60O 61Cap $245.3M
MGI
58
MVI
60
MTI
55
MOI
61
Cap
$245.3M
Growth
-4%30
Harmony Biosciences Holdings, Inc.HRMY🇺🇸
Revenue +26%/yr · +26%/yr per share · asset light
G 57V 65O 62Cap $2.2B
MGI
57
MVI
65
MTI
58
MOI
62
Cap
$2.2B
Growth
+30%31
Neurocrine Biosciences, Inc.NBIX🇺🇸
Revenue +24%/yr · +23%/yr per share · asset light
G 57V 62O 60Cap $16.3B
MGI
57
MVI
62
MTI
38
MOI
60
Cap
$16.3B
Growth
+40%32
Recordati Industria Chimica e Farmaceutica S.p.A.REC.IT🇮🇹
Revenue +11%/yr · +12%/yr per share · asset light
G 56V 55O 58Cap $11.9B
MGI
56
MVI
55
MTI
42
MOI
58
Cap
$11.9B
Growth
+5%33
Swedish Orphan Biovitrum ABSOBI.SE🇸🇪
Revenue +15%/yr · +11%/yr per share · asset light
G 56V 60O 59Cap $14.8B
MGI
56
MVI
60
MTI
44
MOI
59
Cap
$14.8B
Growth
+21%34
Cronos Group Inc.CRON🇨🇦
Revenue +23%/yr · +22%/yr per share · scale economics
G 56V 59O 59Cap $1.1B
MGI
56
MVI
59
MTI
48
MOI
59
Cap
$1.1B
Growth
+58%35
Virbac SAVIRP.FR🇫🇷
Revenue +9%/yr · +10%/yr per share · asset light
G 55V 53O 56Cap $3.4B
MGI
55
MVI
53
MTI
43
MOI
56
Cap
$3.4B
Growth
+5%36
Kiniksa Pharmaceuticals International plcKNSA🇺🇸
Revenue +85%/yr · +79%/yr per share · asset light
G 55V 52O 56Cap $5.5B
MGI
55
MVI
52
MTI
55
MOI
56
Cap
$5.5B
Growth
+55%37
Acadia Pharmaceuticals Inc.ACAD🇺🇸
Revenue +19%/yr · +17%/yr per share · asset light
G 54V 59O 57Cap $4.6B
MGI
54
MVI
59
MTI
50
MOI
57
Cap
$4.6B
Growth
+16%38
Krystal Biotech, Inc.KRYS🇺🇸
Revenue +106%/yr · +93%/yr per share · asset light
G 54V 47O 53Cap $10.4B
MGI
54
MVI
47
MTI
43
MOI
53
Cap
$10.4B
Growth
+24%39
Xeris Biopharma Holdings, Inc.XERS🇺🇸
Revenue +47%/yr · +25%/yr per share · asset light
G 54V 64O 58Cap $1.5B
MGI
54
MVI
64
MTI
47
MOI
58
Cap
$1.5B
Growth
+29%40
Ardelyx, Inc.ARDX🇺🇸
Revenue +114%/yr · +80%/yr per share · asset light
G 54V 65O 58Cap $1.2B
MGI
54
MVI
65
MTI
60
MOI
58
Cap
$1.2B
Growth
+24%41
Exelixis, Inc.EXEL🇺🇸
Revenue +11%/yr · +16%/yr per share · asset light
G 53V 55O 55Cap $13.3B
MGI
53
MVI
55
MTI
47
MOI
55
Cap
$13.3B
Growth
+11%42
TG Therapeutics, Inc.TGTX🇺🇸
Revenue +160%/yr · +151%/yr per share · asset light
G 53V 51O 53Cap $7.9B
MGI
53
MVI
51
MTI
56
MOI
53
Cap
$7.9B
Growth
+70%43
H. Lundbeck A/SHLUN.B.DK🇩🇰
Revenue +9%/yr · +9%/yr per share · asset light
G 53V 60O 55Cap $6.5B
MGI
53
MVI
60
MTI
50
MOI
55
Cap
$6.5B
Growth
+14%44
Axsome Therapeutics, Inc.AXSM🇺🇸
Revenue +42%/yr · +34%/yr per share · asset light
G 52V 54O 54Cap $12.0B
MGI
52
MVI
54
MTI
42
MOI
54
Cap
$12.0B
Growth
+57%45
Fagron NVFAGR.NL🇳🇱
Revenue +12%/yr · +12%/yr per share · asset light
G 51V 62O 55Cap $2.0B
MGI
51
MVI
62
MTI
52
MOI
55
Cap
$2.0B
Growth
+9%46
Incyte CorporationINCY🇺🇸
Revenue +14%/yr · +16%/yr per share · asset light
G 51V 54O 52Cap $23.6B
MGI
51
MVI
54
MTI
55
MOI
52
Cap
$23.6B
Growth
+38%47
Legend Biotech Corp.LEGN🇺🇸
Revenue +79%/yr · +69%/yr per share · asset light
G 51V 65O 55Cap $3.9B
MGI
51
MVI
65
MTI
58
MOI
55
Cap
$3.9B
Growth
+56%48
Auxly Cannabis Group Inc.XLY.CA🇨🇦
Revenue +15%/yr · -1%/yr per share · asset light
G 51V 70O 56Cap $199.8M
MGI
51
MVI
70
MTI
57
MOI
56
Cap
$199.8M
Growth
+22%
Related research
Every ranking refreshes nightly from the same engine.
Want this list your way?
Run it as a live search: add size, geography or profitability in plain English, then ask Dig Deeper to reason over the results.
Research tool, not investment advice. Rankings are generated by our models from company filings and market data, refresh nightly, and are identical for every visitor. Scores reflect our methodology and are not recommendations to act. Data as of 2026-08-17.