Antifibrotic Drugs

Antifibrotic Drugs Market Outlook

The global antifibrotic drugs market is anticipated to reach approximately USD 4.5 billion by 2035, growing at a compound annual growth rate (CAGR) of around 7.8% during the forecast period of 2025 to 2035. This growth is mainly driven by the increasing prevalence of fibrotic diseases, such as idiopathic pulmonary fibrosis and liver fibrosis, alongside rising awareness of antifibrotic therapies and advancements in drug development. Moreover, the growing geriatric population, which is more susceptible to chronic diseases leading to fibrosis, constitutes a significant factor in propelling market growth. Additionally, innovative treatment options and the expanding pipeline of antifibrotic drugs are expected to provide new avenues for growth, thus positively influencing the market dynamics.

Growth Factor of the Market

The antifibrotic drugs market is witnessing accelerated growth due to several key factors. One of the primary drivers is the escalation in the incidence of chronic diseases that result in fibrotic conditions, such as pulmonary fibrosis, liver cirrhosis, and chronic kidney diseases. The increasing awareness regarding these diseases, coupled with advancements in diagnostic techniques, supports early detection and treatment, thereby propelling market demand. Furthermore, the introduction of novel antifibrotic drugs, which offer improved efficacy and safety profiles, is likely to capture the interest of healthcare providers and patients alike. Regulatory support and incentives for the development of these drugs, particularly for orphan diseases, also enhance the market attractiveness. Additionally, ongoing research efforts aimed at understanding the molecular mechanisms involved in fibrosis and developing targeted therapies further contribute to market growth.

Key Highlights of the Market

• The antifibrotic drugs market is expected to reach USD 4.5 billion by 2035.
• North America holds a significant share of the market and is projected to continue leading the market in the coming years.
• Idiopathic pulmonary fibrosis is the leading disease indication driving market demand.
• Pirfenidone and Nintedanib represent the most prominent drug types in the antifibrotic drugs market.
• Online pharmacies are rapidly gaining traction as a preferred distribution channel for antifibrotic drugs.

By Drug Type

Pirfenidone:

Pirfenidone is a first-line treatment for idiopathic pulmonary fibrosis (IPF) and is recognized for its anti-fibrotic properties. It works by inhibiting the synthesis of growth factors, which play a role in the fibrotic processes of the lungs. The drug has shown significant efficacy in slowing disease progression and improving lung function in IPF patients. Due to its established clinical use and positive safety profile, Pirfenidone continues to dominate the market among antifibrotic drugs, making it a preferred choice among healthcare providers for treating chronic fibrotic diseases.

Nintedanib:

Nintedanib is another leading antifibrotic agent used primarily for the treatment of IPF and other fibrotic diseases. It functions as a multi-tyrosine kinase inhibitor that targets pathways involved in fibrogenesis, including platelet-derived growth factor (PDGF) and vascular endothelial growth factor (VEGF). The drug has been associated with a positive impact on lung function decline, thereby enhancing its therapeutic value. As a result, Nintedanib is increasingly being recognized as an essential therapeutic option, contributing significantly to market growth in the antifibrotic drug segment.

Interferons:

Interferons are a class of cytokines that exhibit antiviral, immunomodulatory, and anti-fibrotic effects. They play a crucial role in modulating the immune response and are being investigated for their potential in treating various fibrotic disorders, particularly liver fibrosis. The use of interferons in clinical settings is becoming more common as research continues to uncover their efficacy in halting the progression of fibrosis. As a result, this drug type is expected to gain traction in the antifibrotic market, especially in the context of liver-related conditions.

Imatinib:

Imatinib, primarily known as a treatment for chronic myeloid leukemia, has also shown promise in managing fibrotic diseases due to its ability to inhibit PDGF receptors. This mechanism makes it a valuable candidate for treating conditions characterized by excessive fibrosis, such as cardiac fibrosis. The evolving understanding of Imatinib's therapeutic effects on fibrosis-related conditions is likely to position it favorably within the antifibrotic drugs market, driving its adoption among clinicians treating fibrotic diseases.

Colchicine:

Colchicine is an anti-inflammatory medication traditionally used to treat gout, but emerging evidence suggests its utility in fibrotic diseases, particularly in the context of lung and cardiac fibrosis. It functions by disrupting the inflammatory process and has been shown to reduce fibrosis in various preclinical models. Given the increasing focus on repurposing existing drugs for novel therapeutic uses, Colchicine is expected to carve out a niche in the antifibrotic market, supported by ongoing research and potential clinical trials.

By Disease Indication

Idiopathic Pulmonary Fibrosis:

Idiopathic pulmonary fibrosis (IPF) represents a significant portion of the antifibrotic drugs market, accounting for a substantial share due to its high prevalence and severe prognosis. This progressive lung disease is characterized by the accumulation of scar tissue, leading to a decline in lung function. The development and approval of antifibrotic agents, such as Pirfenidone and Nintedanib, specifically targeting IPF have transformed the management landscape, providing patients with therapeutic options to slow disease progression and improve quality of life. As awareness of IPF continues to rise, the demand for effective treatments is expected to bolster market growth in this segment.

Liver Fibrosis:

Liver fibrosis is another key disease indication driving the antifibrotic drugs market. The condition arises from chronic liver injuries, such as hepatitis or alcohol abuse, leading to excessive scarring of the liver tissue. With the increasing incidence of liver diseases worldwide, the need for effective antifibrotic therapies is paramount. The ongoing research into antifibrotic agents that target liver fibrosis is expected to create new therapeutic avenues, further propelling market growth as healthcare professionals seek effective treatments to mitigate liver damage and prevent progression to cirrhosis.

Kidney Fibrosis:

Kidney fibrosis represents a significant clinical challenge, often resulting from chronic kidney diseases or diabetes. The pathogenesis involves the accumulation of extracellular matrix components, leading to progressive renal dysfunction. The growing recognition of the importance of fibrosis in kidney disease has spurred interest in developing antifibrotic therapies aimed at mitigating this process. As the understanding of kidney fibrosis advances, the market for antifibrotic drugs targeting this indication is poised for substantial growth, driven by the increasing prevalence of chronic kidney diseases globally.

Cardiac Fibrosis:

Cardiac fibrosis is emerging as a critical focus area in the antifibrotic drugs market due to its association with various cardiovascular diseases, including heart failure and ischemic heart disease. Fibrosis within the cardiac tissue can lead to impaired cardiac function and increased morbidity. The recognition of antifibrotic agents' potential to address this issue is gaining traction, as ongoing research explores their effectiveness in reducing cardiac fibrosis. The demand for innovative treatments that can address the underlying mechanisms of cardiac fibrosis is likely to enhance market opportunities within this segment.

Others:

The 'Others' category within disease indications encompasses a diverse range of fibrotic conditions, including skin fibrosis and fibrotic diseases related to autoimmune disorders. While these conditions may individually represent a smaller share of the market, collectively they highlight the broad therapeutic potential of antifibrotic agents beyond the major indications. The increasing focus on drug repurposing and the exploration of novel antifibrotic therapies for various conditions are expected to contribute to market expansion within this segment, broadening the scope of treatment options available to patients.

By Distribution Channel

Hospital Pharmacies:

Hospital pharmacies play a crucial role in the distribution of antifibrotic drugs, particularly for patients requiring specialized care and management of complex conditions like pulmonary fibrosis. These pharmacies are strategically positioned within healthcare institutions, ensuring that patients have access to critical medications immediately following diagnosis or treatment initiation. The collaboration between healthcare providers and hospital pharmacies enhances patient outcomes by facilitating personalized treatment plans and ensuring proper medication management. As the prevalence of fibrotic diseases continues to rise, hospital pharmacies are expected to maintain a significant share of the antifibrotic drugs market.

Retail Pharmacies:

Retail pharmacies serve as an essential distribution channel for antifibrotic drugs, providing patients with access to medications prescribed for chronic conditions. The convenience and accessibility offered by retail pharmacies make them a preferred choice for many patients, allowing for easy pick-up of prescriptions and the opportunity to consult with pharmacists regarding medication management. With ongoing efforts to improve patient adherence to prescribed therapies, retail pharmacies are increasingly focusing on patient education and support programs, which are expected to further enhance their contribution to the antifibrotic drugs market.

Online Pharmacies:

The rise of online pharmacies has transformed the landscape of pharmaceutical distribution, providing patients with a convenient and efficient means to access antifibrotic drugs. With the increasing adoption of telemedicine and the growing emphasis on digital health solutions, online pharmacies are becoming a vital channel for patients seeking antifibrotic therapies. These platforms offer the advantage of home delivery, enabling patients to receive their medications without the need to visit a physical pharmacy. As consumer preferences shift towards online shopping and telehealth services, the market share of online pharmacies in the antifibrotic drugs market is projected to grow significantly.

By Mechanism of Action

TGF-beta Inhibitors:

TGF-beta inhibitors represent a critical class of antifibrotic agents, targeting the transforming growth factor beta (TGF-beta) signaling pathway, which is a key driver of fibrosis. By inhibiting this pathway, these drugs prevent the activation of fibroblasts and the subsequent production of extracellular matrix components, thereby mitigating fibrosis progression. This mechanism has been validated in clinical settings, particularly for diseases like IPF, where TGF-beta plays a pivotal role in pathogenesis. As research continues to uncover the efficacy of TGF-beta inhibitors, their utilization in the antifibrotic drugs market is expected to expand.

MMP Inhibitors:

MMP (matrix metalloproteinase) inhibitors are another important category of antifibrotic drugs that function by modulating the degradation of extracellular matrix components. These inhibitors prevent the breakdown of collagen and other matrix proteins, thereby reducing the fibrotic process. The role of MMPs in tissue remodeling and fibrosis has garnered significant attention, leading to the development of targeted therapies aimed at regulating their activity. As the understanding of MMPs' involvement in fibrotic diseases deepens, the adoption of MMP inhibitors in clinical practice is anticipated to grow, contributing positively to the antifibrotic drugs market.

PDGF Inhibitors:

PDGF (platelet-derived growth factor) inhibitors are gaining recognition for their potential in managing fibrotic diseases due to their role in promoting fibroblast proliferation and activation. By targeting PDGF receptors, these inhibitors can effectively reduce fibrosis and mitigate tissue damage. The application of PDGF inhibitors has shown promise in clinical trials, particularly in diseases characterized by excessive fibroblast activity. As the focus on targeted therapies increases, the demand for PDGF inhibitors in the antifibrotic drugs market is expected to rise as healthcare providers seek effective strategies to combat fibrosis.

JAK Inhibitors:

Janus kinase (JAK) inhibitors are emerging as a novel class of antifibrotic agents with the potential to modulate inflammatory pathways associated with fibrosis. These drugs target intracellular signaling pathways that contribute to fibrogenesis, making them a valuable addition to the antifibrotic arsenal. Investigational studies suggest that JAK inhibitors could effectively reduce fibrosis in various tissues, including lungs and liver, which is driving interest in their clinical application. As research continues to expand on the therapeutic benefits of JAK inhibitors, their market presence is anticipated to strengthen.

Others:

The 'Others' category encompasses various antifibrotic agents that may not fit into the main mechanistic classifications but still hold promise for treating fibrotic diseases. This includes emerging therapies and novel compounds that target different pathways involved in fibrosis. The exploration of diverse mechanisms of action is critical in developing effective antifibrotic treatments, particularly as the understanding of fibrogenesis evolves. The market for antifibrotic drugs is likely to benefit from ongoing research and innovation in this area, leading to increased investment in the development of alternative therapies.

By Region

North America is expected to dominate the antifibrotic drugs market, accounting for a substantial share due to the high prevalence of chronic diseases, advanced healthcare infrastructure, and increased spending on healthcare services. The region's market is projected to grow at a CAGR of 8.2% during the forecast period, driven by the rising incidence of idiopathic pulmonary fibrosis and liver diseases, alongside the presence of major pharmaceutical companies focusing on antifibrotic drug development. Furthermore, favorable reimbursement policies and increased research funding in the United States contribute to the region's strong market position. The increasing awareness of fibrotic diseases and the demand for effective therapeutic interventions further bolster the growth of the antifibrotic drugs market in North America.

Europe also represents a significant share of the antifibrotic drugs market, influenced by the rising prevalence of fibrotic diseases and the growing focus on innovative treatment options. The market in Europe is characterized by a strong emphasis on research and development, with many pharmaceutical companies investing in novel antifibrotic therapies. Countries such as Germany, the UK, and France are at the forefront of this market, with robust healthcare systems that facilitate patient access to advanced treatments. The increasing collaboration between healthcare providers and pharmaceutical companies fosters a conducive environment for market growth, as they work together to develop and implement effective antifibrotic therapies for patients across Europe.

Opportunities

The antifibrotic drugs market presents a myriad of opportunities driven by advancing research and the unmet medical needs associated with fibrotic diseases. One significant opportunity lies in the expansion of research initiatives focused on understanding the underlying mechanisms of fibrosis across various organ systems. This investigation is likely to yield new therapeutic targets and drug candidates that can effectively address fibrotic conditions. As the scientific community continues to unlock the complexities of fibrogenesis, pharmaceutical companies are increasingly positioned to innovate and develop novel antifibrotic agents that meet the diverse needs of patients. Additionally, collaborations between biopharmaceutical companies and academic institutions can spur breakthroughs in antifibrotic drug development, reinforcing the potential for growth in this market segment.

Moreover, increasing public awareness and education about fibrotic diseases provide an additional opportunity for market expansion. With numerous advocacy groups and organizations promoting awareness of conditions like idiopathic pulmonary fibrosis and liver fibrosis, patients are more likely to seek early diagnosis and treatment. This shift in patient behavior may lead to higher demand for antifibrotic drugs and encourage healthcare providers to prioritize these therapies in their treatment regimens. The growing emphasis on patient-centric care and the importance of adherence to prescribed therapies present further opportunities for antifibrotic drug manufacturers to enhance patient education initiatives and support programs, ultimately improving treatment outcomes in this space.

Threats

While the antifibrotic drugs market is poised for growth, it is not without its threats, which could impede progress in this sector. One significant challenge is the increasing competition from generic drugs, particularly as patents for leading antifibrotic agents expire. The entry of generic alternatives often leads to price erosion, impacting the profitability of branded products and potentially limiting investment in research and development for new therapies. Additionally, the emergence of biosimilars could further intensify competition, leading to increased pressure on established antifibrotic drug manufacturers to innovate and differentiate their offerings. The challenge of navigating the competitive landscape requires strategic approaches to maintain market share while addressing patient needs effectively.

Another potential threat stems from regulatory hurdles faced by pharmaceutical companies developing antifibrotic therapies. The lengthy and costly processes associated with drug approval can be daunting, particularly for companies with limited resources or those venturing into novel therapeutic areas. Delays in regulatory approvals can hinder market entry for innovative antifibrotic agents, restricting treatment options for patients suffering from fibrotic diseases. Furthermore, ongoing scrutiny from regulatory authorities regarding safety and efficacy can pose challenges for existing antifibrotic drugs, necessitating continuous monitoring and compliance efforts to ensure product viability in the market. Addressing these regulatory challenges will be crucial for the sustained growth and success of the antifibrotic drugs market.

Competitor Outlook

• Roche Holding AG
• Boehringer Ingelheim
• FibroGen, Inc.
• Novartis AG
• Sanofi S.A.
• TheraBiologics, Inc.
• Pfizer Inc.
• AbbVie Inc.
• Horizon Therapeutics plc
• Gilead Sciences, Inc.
• Galectin Therapeutics, Inc.
• Celgene Corporation
• InterMune, Inc.
• Actelion Pharmaceuticals Ltd
• Merck & Co., Inc.

The competitive landscape of the antifibrotic drugs market is characterized by the presence of several key players, each contributing to the development and commercialization of innovative therapies targeting fibrotic diseases. Major pharmaceutical companies such as Roche Holding AG and Boehringer Ingelheim have established a robust presence in this market, primarily due to their extensive research and development capabilities and strong portfolios of antifibrotic agents like Pirfenidone and Nintedanib. These companies are actively engaged in clinical trials and studies aimed at expanding the applications of their existing antifibrotic drugs, as well as exploring new therapeutic targets to enhance treatment outcomes for patients suffering from various fibrotic conditions.

Moreover, companies like FibroGen, Inc. and Novartis AG are making strides in the antifibrotic drugs market through innovative approaches and investment in research initiatives. FibroGen, known for its proprietary therapies targeting fibrosis, is focusing on advancing its pipeline of antifibrotic agents, aiming to address unmet medical needs in conditions such as chronic kidney disease and liver fibrosis. Similarly, Novartis AG is leveraging its expertise in drug development to explore novel mechanisms of action and potential therapeutic candidates that can effectively manage fibrotic diseases. The competitive dynamics are further amplified as these companies seek partnerships and collaborations with research institutions to accelerate the development process and bring new therapies to market.

Additionally, emerging players and biotechnology firms are entering the antifibrotic drugs market, bringing forth new innovations and therapeutic strategies. Companies such as Gilead Sciences, Inc. and Horizon Therapeutics plc are exploring alternative mechanisms and treatment modalities for fibrotic diseases, contributing to a diverse ecosystem of antifibrotic therapies. As ongoing research efforts continue to uncover the complexities of fibrosis and its underlying pathways, the competitive landscape is expected to evolve with the introduction of novel agents and treatment approaches. The combination of established pharmaceutical giants and innovative biotech firms positions the antifibrotic drugs market for dynamic growth and evolving treatment paradigms in the coming years.

• 1 Appendix

  • 1.1 List of Tables
  • 1.2 List of Figures

• 2 Introduction

  • 2.1 Market Definition
  • 2.2 Scope of the Report
  • 2.3 Study Assumptions
  • 2.4 Base Currency & Forecast Periods

• 3 Market Dynamics

  • 3.1 Market Growth Factors
  • 3.2 Economic & Global Events
  • 3.3 Innovation Trends
  • 3.4 Supply Chain Analysis

• 4 Consumer Behavior

  • 4.1 Market Trends
  • 4.2 Pricing Analysis
  • 4.3 Buyer Insights

• 5 Key Player Profiles

  • 5.1 AbbVie Inc.
    • 5.1.1 Business Overview
    • 5.1.2 Products & Services
    • 5.1.3 Financials
    • 5.1.4 Recent Developments
    • 5.1.5 SWOT Analysis
  • 5.2 Novartis AG
    • 5.2.1 Business Overview
    • 5.2.2 Products & Services
    • 5.2.3 Financials
    • 5.2.4 Recent Developments
    • 5.2.5 SWOT Analysis
  • 5.3 Pfizer Inc.
    • 5.3.1 Business Overview
    • 5.3.2 Products & Services
    • 5.3.3 Financials
    • 5.3.4 Recent Developments
    • 5.3.5 SWOT Analysis
  • 5.4 Sanofi S.A.
    • 5.4.1 Business Overview
    • 5.4.2 Products & Services
    • 5.4.3 Financials
    • 5.4.4 Recent Developments
    • 5.4.5 SWOT Analysis
  • 5.5 FibroGen, Inc.
    • 5.5.1 Business Overview
    • 5.5.2 Products & Services
    • 5.5.3 Financials
    • 5.5.4 Recent Developments
    • 5.5.5 SWOT Analysis
  • 5.6 InterMune, Inc.
    • 5.6.1 Business Overview
    • 5.6.2 Products & Services
    • 5.6.3 Financials
    • 5.6.4 Recent Developments
    • 5.6.5 SWOT Analysis
  • 5.7 Roche Holding AG
    • 5.7.1 Business Overview
    • 5.7.2 Products & Services
    • 5.7.3 Financials
    • 5.7.4 Recent Developments
    • 5.7.5 SWOT Analysis
  • 5.8 Merck & Co., Inc.
    • 5.8.1 Business Overview
    • 5.8.2 Products & Services
    • 5.8.3 Financials
    • 5.8.4 Recent Developments
    • 5.8.5 SWOT Analysis
  • 5.9 Celgene Corporation
    • 5.9.1 Business Overview
    • 5.9.2 Products & Services
    • 5.9.3 Financials
    • 5.9.4 Recent Developments
    • 5.9.5 SWOT Analysis
  • 5.10 Boehringer Ingelheim
    • 5.10.1 Business Overview
    • 5.10.2 Products & Services
    • 5.10.3 Financials
    • 5.10.4 Recent Developments
    • 5.10.5 SWOT Analysis
  • 5.11 TheraBiologics, Inc.
    • 5.11.1 Business Overview
    • 5.11.2 Products & Services
    • 5.11.3 Financials
    • 5.11.4 Recent Developments
    • 5.11.5 SWOT Analysis
  • 5.12 Gilead Sciences, Inc.
    • 5.12.1 Business Overview
    • 5.12.2 Products & Services
    • 5.12.3 Financials
    • 5.12.4 Recent Developments
    • 5.12.5 SWOT Analysis
  • 5.13 Horizon Therapeutics plc
    • 5.13.1 Business Overview
    • 5.13.2 Products & Services
    • 5.13.3 Financials
    • 5.13.4 Recent Developments
    • 5.13.5 SWOT Analysis
  • 5.14 Galectin Therapeutics, Inc.
    • 5.14.1 Business Overview
    • 5.14.2 Products & Services
    • 5.14.3 Financials
    • 5.14.4 Recent Developments
    • 5.14.5 SWOT Analysis
  • 5.15 Actelion Pharmaceuticals Ltd
    • 5.15.1 Business Overview
    • 5.15.2 Products & Services
    • 5.15.3 Financials
    • 5.15.4 Recent Developments
    • 5.15.5 SWOT Analysis

• 6 Market Segmentation

  • 6.1 Antifibrotic Drugs Market, By Drug Type
    • 6.1.1 Pirfenidone
    • 6.1.2 Nintedanib
    • 6.1.3 Interferons
    • 6.1.4 Imatinib
    • 6.1.5 Colchicine
  • 6.2 Antifibrotic Drugs Market, By Disease Indication
    • 6.2.1 Idiopathic Pulmonary Fibrosis
    • 6.2.2 Liver Fibrosis
    • 6.2.3 Kidney Fibrosis
    • 6.2.4 Cardiac Fibrosis
    • 6.2.5 Others
  • 6.3 Antifibrotic Drugs Market, By Distribution Channel
    • 6.3.1 Hospital Pharmacies
    • 6.3.2 Retail Pharmacies
    • 6.3.3 Online Pharmacies

• 7 Competitive Analysis

  • 7.1 Key Player Comparison
  • 7.2 Market Share Analysis
  • 7.3 Investment Trends
  • 7.4 SWOT Analysis

• 8 Research Methodology

  • 8.1 Analysis Design
  • 8.2 Research Phases
  • 8.3 Study Timeline

• 9 Future Market Outlook

  • 9.1 Growth Forecast
  • 9.2 Market Evolution

• 10 Geographical Overview

  • 10.1 Europe - Market Analysis
    • 10.1.1 By Country
      • 10.1.1.1 UK
      • 10.1.1.2 France
      • 10.1.1.3 Germany
      • 10.1.1.4 Spain
      • 10.1.1.5 Italy
  • 10.2 Asia Pacific - Market Analysis
    • 10.2.1 By Country
      • 10.2.1.1 India
      • 10.2.1.2 China
      • 10.2.1.3 Japan
      • 10.2.1.4 South Korea
  • 10.3 Latin America - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 Brazil
      • 10.3.1.2 Argentina
      • 10.3.1.3 Mexico
  • 10.4 North America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 USA
      • 10.4.1.2 Canada
  • 10.5 Antifibrotic Drugs Market by Region
  • 10.6 Middle East & Africa - Market Analysis
    • 10.6.1 By Country
      • 10.6.1.1 Middle East
      • 10.6.1.2 Africa

• 11 Global Economic Factors

  • 11.1 Inflation Impact
  • 11.2 Trade Policies

• 12 Technology & Innovation

  • 12.1 Emerging Technologies
  • 12.2 AI & Digital Trends
  • 12.3 Patent Research

• 13 Investment & Market Growth

  • 13.1 Funding Trends
  • 13.2 Future Market Projections

• 14 Market Overview & Key Insights

  • 14.1 Executive Summary
  • 14.2 Key Trends
  • 14.3 Market Challenges
  • 14.4 Regulatory Landscape

Segments Analyzed in the Report

The global Antifibrotic Drugs market is categorized based on

By Drug Type

• Pirfenidone
• Nintedanib
• Interferons
• Imatinib
• Colchicine

By Disease Indication

• Idiopathic Pulmonary Fibrosis
• Liver Fibrosis
• Kidney Fibrosis
• Cardiac Fibrosis
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Players

• Roche Holding AG
• Boehringer Ingelheim
• FibroGen, Inc.
• Novartis AG
• Sanofi S.A.
• TheraBiologics, Inc.
• Pfizer Inc.
• AbbVie Inc.
• Horizon Therapeutics plc
• Gilead Sciences, Inc.
• Galectin Therapeutics, Inc.
• Celgene Corporation
• InterMune, Inc.
• Actelion Pharmaceuticals Ltd
• Merck & Co., Inc.