Research · refreshed nightly · July 28, 2026
Biotechs With Real Revenue (July 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
60median MGI
12joined this week
The ranking
Sorted by MGI
1
BillionToOne, Inc.BLLN🇺🇸
Revenue +70%/yr · +18%/yr per share · asset light
G 77V 54O 79Cap $5.9B
MGI
77
MVI
54
MTI
50
MOI
79
Cap
$5.9B
Growth
+141%2
Alnylam Pharmaceuticals, Inc.ALNY🇺🇸
Revenue +38%/yr · +35%/yr per share · asset light
G 76V 58O 80Cap $40.7B
MGI
76
MVI
58
MTI
42
MOI
80
Cap
$40.7B
Growth
+96%3
Ascendis Pharma A/SASND🇩🇰
Revenue +157%/yr · +150%/yr per share · asset light
G 75V 58O 78Cap $16.4B
MGI
75
MVI
58
MTI
43
MOI
78
Cap
$16.4B
Growth
+144%4
Caris Life Sciences, Inc.CAI🇺🇸
Revenue +44%/yr · -24%/yr per share · asset light
G 72V 62O 77Cap $4.7B
MGI
72
MVI
62
MTI
45
MOI
77
Cap
$4.7B
Growth
+79%5
argenx SEARGX🇳🇱
Revenue +58%/yr · +50%/yr per share · asset light
G 71V 57O 74Cap $56.6B
MGI
71
MVI
57
MTI
43
MOI
74
Cap
$56.6B
Growth
+64%6
United Therapeutics CorporationUTHR🇺🇸
Revenue +13%/yr · +13%/yr per share · asset light
G 70V 52O 71Cap $25.6B
MGI
70
MVI
52
MTI
55
MOI
71
Cap
$25.6B
Growth
-2%7
Kuros Biosciences LtdKURN.CH🇨🇭
Revenue +101%/yr · +80%/yr per share · asset light
G 70V 59O 74Cap $1.0B
MGI
70
MVI
59
MTI
43
MOI
74
Cap
$1.0B
Growth
+72%8
Vericel CorporationVCEL🇺🇸
Revenue +13%/yr · +11%/yr per share · asset light
G 70V 55O 72Cap $2.3B
MGI
70
MVI
55
MTI
28
MOI
72
Cap
$2.3B
Growth
+30%9
ALK-Abelló A/SALK.B.DK🇩🇰
Revenue +11%/yr · +11%/yr per share · asset light
G 68V 60O 73Cap $7.2B
MGI
68
MVI
60
MTI
31
MOI
73
Cap
$7.2B
Growth
+16%10
ChemoMetec A/SCHEMM.DK🇩🇰
Revenue +15%/yr · +15%/yr per share · asset light
G 66V 39O 63Cap $1.9B
MGI
66
MVI
39
MTI
42
MOI
63
Cap
$1.9B
Growth
+22%11
Halozyme Therapeutics, Inc.HALO🇺🇸
Revenue +28%/yr · +33%/yr per share · asset light
G 65V 67O 75Cap $8.7B
MGI
65
MVI
67
MTI
50
MOI
75
Cap
$8.7B
Growth
+42%12
BioSyent Inc.RX.CA🇨🇦
Revenue +10%/yr · +12%/yr per share · asset light
G 65V 66O 70Cap $117.6M
MGI
65
MVI
66
MTI
37
MOI
70
Cap
$117.6M
Growth
+27%13
Agios Pharmaceuticals, Inc.AGIO🇺🇸
Revenue +35%/yr · +36%/yr per share · asset light
G 64V 62O 68Cap $2.1B
MGI
64
MVI
62
MTI
47
MOI
68
Cap
$2.1B
Growth
+138%14
BeOne Medicines Ltd.6160.US🇺🇸
Revenue +37%/yr · +31%/yr per share · asset light
G 64V 62O 68Cap $33.8B
MGI
64
MVI
62
MTI
52
MOI
68
Cap
$33.8B
Growth
+37%15
Protagonist Therapeutics, Inc.PTGX🇺🇸
Revenue +22%/yr · +14%/yr per share · asset light
G 63V 47O 62Cap $7.7B
MGI
63
MVI
47
MTI
44
MOI
62
Cap
$7.7B
Growth
+99%16
Zealand Pharma A/SZEAL.DK🇩🇰
Revenue +143%/yr · +119%/yr per share · asset light
G 63V 53O 64Cap $4.5B
MGI
63
MVI
53
MTI
60
MOI
64
Cap
$4.5B
Growth
+320%17
H. Lundbeck A/SHLUN.B.DK🇩🇰
Revenue +9%/yr · +9%/yr per share · asset light
G 63V 69O 69Cap $6.4B
MGI
63
MVI
69
MTI
43
MOI
69
Cap
$6.4B
Growth
+14%18
Tarsus Pharmaceuticals, Inc.TARS🇺🇸
Revenue +56%/yr · +35%/yr per share · asset light
G 63V 64O 67Cap $2.8B
MGI
63
MVI
64
MTI
45
MOI
67
Cap
$2.8B
Growth
+107%19
BioArctic ABBIOA.B.SE🇸🇪
Revenue +113%/yr · +113%/yr per share · asset light
G 62V 69O 67Cap $3.0B
MGI
62
MVI
69
MTI
44
MOI
67
Cap
$3.0B
Growth
-66%20
Vertex Pharmaceuticals IncorporatedVRTX🇺🇸
Revenue +10%/yr · +10%/yr per share · asset light
G 62V 51O 63Cap $117.5B
MGI
62
MVI
51
MTI
38
MOI
63
Cap
$117.5B
Growth
+8%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
Corcept Therapeutics Inc.CORT🇺🇸
Revenue +16%/yr · +18%/yr per share · asset light
G 61V 45O 59Cap $9.8B
MGI
61
MVI
45
MTI
56
MOI
59
Cap
$9.8B
Growth
+5%23
Rigel Pharmaceuticals, Inc.RIGL🇺🇸
Revenue +15%/yr · +12%/yr per share · asset light
G 61V 77O 68Cap $594.8M
MGI
61
MVI
77
MTI
43
MOI
68
Cap
$594.8M
Growth
+10%24
Immunocore Holdings plcIMCR🇬🇧
Revenue +62%/yr · +57%/yr per share · asset light
G 61V 63O 65Cap $1.6B
MGI
61
MVI
63
MTI
48
MOI
65
Cap
$1.6B
Growth
+14%25
Kiniksa Pharmaceuticals International plcKNSA🇺🇸
Revenue +81%/yr · +76%/yr per share · asset light
G 60V 63O 64Cap $4.3B
MGI
60
MVI
63
MTI
35
MOI
64
Cap
$4.3B
Growth
+56%26
Travere Therapeutics, Inc.TVTX🇺🇸
Revenue +32%/yr · +21%/yr per share · asset light
G 60V 61O 65Cap $5.3B
MGI
60
MVI
61
MTI
52
MOI
65
Cap
$5.3B
Growth
+56%27
Eton Pharmaceuticals, Inc.ETON🇺🇸
Revenue +32%/yr · +28%/yr per share · asset light
G 60V 51O 60Cap $1.2B
MGI
60
MVI
51
MTI
42
MOI
60
Cap
$1.2B
Growth
+40%28
BioGaia ABBIOG.B.SE🇸🇪
Revenue +15%/yr · +15%/yr per share · asset light
G 59V 56O 61Cap $1.2B
MGI
59
MVI
56
MTI
42
MOI
61
Cap
$1.2B
Growth
+2%29
Basilea Pharmaceutica Ltd, AllschwilBSLN.CH🇨🇭
Revenue +13%/yr · +6%/yr per share · asset light
G 58V 55O 60Cap $805.6M
MGI
58
MVI
55
MTI
50
MOI
60
Cap
$805.6M
Growth
+11%30
Cipher Pharmaceuticals Inc.CPH.CA🇨🇦
Revenue +18%/yr · +19%/yr per share · asset light
G 58V 64O 62Cap $295.5M
MGI
58
MVI
64
MTI
45
MOI
62
Cap
$295.5M
Growth
+4%31
Niagen Bioscience, Inc.NAGE🇺🇸
Revenue +14%/yr · +9%/yr per share · asset light
G 58V 55O 59Cap $303.8M
MGI
58
MVI
55
MTI
55
MOI
59
Cap
$303.8M
Growth
+3%32
Fagron NVFAGR.NL🇳🇱
Revenue +11%/yr · +11%/yr per share · asset light
G 57V 54O 59Cap $1.9B
MGI
57
MVI
54
MTI
55
MOI
59
Cap
$1.9B
Growth
+9%33
Harmony Biosciences Holdings, Inc.HRMY🇺🇸
Revenue +24%/yr · +24%/yr per share · asset light
G 57V 69O 63Cap $1.9B
MGI
57
MVI
69
MTI
58
MOI
63
Cap
$1.9B
Growth
+17%34
Cronos Group Inc.CRON🇨🇦
Revenue +20%/yr · +19%/yr per share · scale economics
G 56V 61O 59Cap $1.0B
MGI
56
MVI
61
MTI
48
MOI
59
Cap
$1.0B
Growth
+40%35
Neurocrine Biosciences, Inc.NBIX🇺🇸
Revenue +22%/yr · +21%/yr per share · asset light
G 56V 62O 60Cap $15.5B
MGI
56
MVI
62
MTI
50
MOI
60
Cap
$15.5B
Growth
+42%36
Swedish Orphan Biovitrum ABSOBI.SE🇸🇪
Revenue +15%/yr · +11%/yr per share · asset light
G 56V 60O 60Cap $14.4B
MGI
56
MVI
60
MTI
44
MOI
60
Cap
$14.4B
Growth
+21%37
Virbac SAVIRP.FR🇫🇷
Revenue +9%/yr · +10%/yr per share · asset light
G 55V 54O 56Cap $3.2B
MGI
55
MVI
54
MTI
43
MOI
56
Cap
$3.2B
Growth
+5%38
Incyte CorporationINCY🇺🇸
Revenue +12%/yr · +14%/yr per share · asset light
G 54V 59O 57Cap $21.3B
MGI
54
MVI
59
MTI
60
MOI
57
Cap
$21.3B
Growth
+21%39
Acadia Pharmaceuticals Inc.ACAD🇺🇸
Revenue +18%/yr · +16%/yr per share · asset light
G 54V 62O 58Cap $4.1B
MGI
54
MVI
62
MTI
50
MOI
58
Cap
$4.1B
Growth
+10%40
Krystal Biotech, Inc.KRYS🇺🇸
Revenue +102%/yr · +90%/yr per share · asset light
G 54V 52O 54Cap $9.0B
MGI
54
MVI
52
MTI
43
MOI
54
Cap
$9.0B
Growth
+32%41
Photocure ASAPHO.NO🇳🇴
Revenue +13%/yr · +14%/yr per share · asset light
G 54V 70O 59Cap $186.9M
MGI
54
MVI
70
MTI
30
MOI
59
Cap
$186.9M
Growth
+87%42
Xeris Biopharma Holdings, Inc.XERS🇺🇸
Revenue +45%/yr · +24%/yr per share · asset light
G 54V 65O 59Cap $1.4B
MGI
54
MVI
65
MTI
47
MOI
59
Cap
$1.4B
Growth
+38%43
Ardelyx, Inc.ARDX🇺🇸
Revenue +112%/yr · +79%/yr per share · asset light
G 54V 60O 57Cap $1.4B
MGI
54
MVI
60
MTI
60
MOI
57
Cap
$1.4B
Growth
+28%44
TG Therapeutics, Inc.TGTX🇺🇸
Revenue +154%/yr · +144%/yr per share · asset light
G 53V 49O 53Cap $8.5B
MGI
53
MVI
49
MTI
56
MOI
53
Cap
$8.5B
Growth
+70%45
HUTCHMED (China) LimitedHCM🇭🇰
Revenue +19%/yr · +14%/yr per share · scale economics
G 52V 53O 53Cap $2.1B
MGI
52
MVI
53
MTI
55
MOI
53
Cap
$2.1B
Growth
-13%46
Axsome Therapeutics, Inc.AXSM🇺🇸
Revenue +38%/yr · +30%/yr per share · asset light
G 52V 54O 54Cap $12.3B
MGI
52
MVI
54
MTI
42
MOI
54
Cap
$12.3B
Growth
+57%47
Legend Biotech Corp.LEGN🇺🇸
Revenue +75%/yr · +66%/yr per share · asset light
G 51V 68O 55Cap $3.5B
MGI
51
MVI
68
MTI
58
MOI
55
Cap
$3.5B
Growth
+56%48
Auxly Cannabis Group Inc.XLY.CA🇨🇦
Revenue +14%/yr · -1%/yr per share · asset light
G 51V 72O 56Cap $182.8M
MGI
51
MVI
72
MTI
57
MOI
56
Cap
$182.8M
Growth
+22%
Changed this week
Week over week, from the nightly refresh.
Entered
Legend Biotech Corp. (LEGN) · joined at #47 · Revenue +75%/yr · +66%/yr per share · asset light
EnteredAuxly Cannabis Group Inc. (XLY.CA) · joined at #48 · Revenue +14%/yr · -1%/yr per share · asset light
EnteredCipher Pharmaceuticals Inc. (CPH.CA) · joined at #30 · Revenue +18%/yr · +19%/yr per share · asset light
EnteredNiagen Bioscience, Inc. (NAGE) · joined at #31 · Revenue +14%/yr · +9%/yr per share · asset light
EnteredCronos Group Inc. (CRON) · joined at #34 · Revenue +20%/yr · +19%/yr per share · scale economics
+7 more
INSM, ANIP, RX.CA, LLY, HRMY, FAGR.NL, SOBI.SE also joined
Left
AZN, LEGN, INSM, ANIP, WVE, AUPH, LLY, CAMX.SE, ORNBV.FI, INSM, ANIP, NVO
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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 2026-07-28.