Steroids

Steroids Market Outlook

The global steroids market was valued at approximately USD 7.5 billion in 2022 and is projected to reach USD 13.2 billion by 2030, growing at a compound annual growth rate (CAGR) of around 7.6% during the forecast period from 2023 to 2030. This growth is driven by an increase in the prevalence of chronic diseases such as asthma, allergies, and inflammatory conditions which require effective treatment, coupled with the rising demand for hormone replacement therapy. Moreover, the growing awareness of the beneficial effects of anabolic steroids in sports and bodybuilding communities, albeit controversial, is further propelling the market's expansion. Additionally, ongoing advancements in pharmaceutical formulations and drug delivery systems are enhancing the efficacy and safety profiles of steroid products. This has resulted in a broader acceptance and utilization of steroids for therapeutic purposes across various demographics.

Growth Factor of the Market

The steroids market is experiencing significant growth due to several factors that underline the need for effective therapeutic solutions. The rise in the geriatric population, alongside the increasing incidence of hormone-related disorders, necessitates the adoption of hormone replacement therapies which utilize steroids. Moreover, the heightened awareness about the anti-inflammatory properties of corticosteroids has led to their increased prescription for various chronic conditions. The emergence of online pharmacies has also played a crucial role in enhancing accessibility and convenience for consumers looking to procure steroid medications. Additionally, advancements in steroid formulations that minimize side effects are attracting healthcare providers to prescribe these treatments more frequently. The evolving landscape of the sports and fitness industry continues to encourage the use of anabolic steroids, creating a dual demand from both medical and recreational users.

Key Highlights of the Market

• Strong growth anticipated in hormone replacement therapy applications.
• Increasing prevalence of asthma and allergic reactions drives corticosteroid demand.
• Rising adoption of online pharmacies enhances market accessibility.
• Advances in drug delivery systems improve the efficacy of steroid treatments.
• Growing interest in bodybuilding and fitness contributes to anabolic steroid usage.

By Product Type

Anabolic Steroids:

Anabolic steroids are synthetic derivatives of testosterone and are primarily used to promote muscle growth and enhance athletic performance. This segment is witnessing a surge in demand particularly among bodybuilders and athletes seeking to improve physical performance. Additionally, anabolic steroids are prescribed in clinical settings for treating muscle-wasting conditions, thereby expanding their usage beyond recreational applications. However, the market faces challenges related to regulatory scrutiny and concerns regarding misuse and abuse, which may impact growth. The continued focus on muscle-building products in fitness culture remains a significant driver for this segment.

Corticosteroids:

Corticosteroids are widely recognized for their anti-inflammatory properties and are utilized in treating a variety of conditions such as arthritis, asthma, and autoimmune diseases. This segment is one of the largest in the steroids market due to the extensive prescription of these medications by healthcare professionals. With increasing awareness around chronic inflammatory conditions, the demand for corticosteroids is anticipated to rise significantly. Moreover, the development of inhaled corticosteroids has further broadened their application in managing respiratory diseases, thereby reinforcing their position in the market.

Injectable Steroids:

Injectable steroids are administered through intramuscular or subcutaneous injections, allowing for rapid absorption and immediate therapeutic effects. This form of steroids is essential in various medical settings, especially in hormone replacement therapies and managing acute inflammatory conditions. The convenience and effectiveness of injectable formulations are leading to an increasing adoption rate among patients and healthcare providers alike. Additionally, the advancement in syringe technology and practices for minimizing pain during injection may further enhance the attractiveness of this product type.

Oral Steroids:

Oral steroids are among the most commonly prescribed steroid medications, favored for their ease of use and convenience. They are utilized primarily in the treatment of a range of conditions, including inflammatory diseases and certain cancers. The oral formulation allows for self-administration, which increases patient compliance significantly. However, concerns regarding potential liver toxicity and other side effects can restrict their prolonged use. Despite these limitations, ongoing research into safer oral steroid formulations is expected to bolster market growth in this segment.

Topical Steroids:

Topical steroids are used primarily to treat skin conditions such as eczema, psoriasis, and dermatitis. Their localized application minimizes systemic effects, making them a preferred choice in dermatological treatments. The increasing prevalence of skin disorders, coupled with the convenience of topical applications, is driving the demand for this segment. Additionally, ongoing advancements in formulation technologies to improve absorption and minimize side effects are likely to enhance the efficacy of topical steroids, thereby attracting more users and healthcare providers.

By Application

Hormone Replacement Therapy:

Hormone replacement therapy (HRT) is a significant application area for steroids, particularly anabolic steroids and corticosteroids. HRT is primarily utilized in treating hormonal deficiencies, such as during menopause or andropause, and it has gained substantial popularity due to increasing life expectancy and aging populations. The efficacy of steroids in restoring hormonal balance has led to their wide adoption in clinical practices. As awareness about the benefits of HRT continues to grow, coupled with rising healthcare expenditure, the demand for steroids in this application is projected to see robust growth in the upcoming years.

Anti-inflammatory:

The anti-inflammatory application of steroids is one of the primary drivers of market growth. Corticosteroids are extensively prescribed to reduce inflammation in various conditions, including asthma, rheumatoid arthritis, and inflammatory bowel disease. The rising prevalence of these conditions has led to an increased need for effective anti-inflammatory treatments. As more healthcare providers recognize the efficacy of corticosteroids in managing chronic inflammatory diseases, their prescription rates are likely to rise, thereby enhancing the overall market for steroids in this application segment.

Allergic Reactions:

With the escalating incidence of allergic reactions and skin conditions globally, the use of steroids has become vital in managing such ailments. Corticosteroids are commonly employed to mitigate severe allergic reactions and provide rapid relief. As environmental factors contribute to an increase in allergies, the market for steroids in this application is poised for significant expansion. Furthermore, the ongoing development of new steroid formulations specifically targeting allergic reactions supports the growth in this segment, catering to a diverse range of patient needs.

Asthma:

Asthma management remains a critical area for the application of steroids, particularly inhaled corticosteroids. These medications play a crucial role in controlling asthma symptoms and preventing exacerbations. The rising prevalence of asthma, especially in urban environments, creates a substantial demand for effective asthma treatments, including steroids. As healthcare providers increasingly emphasize the importance of asthma control in improving quality of life, the use of steroids in this application is expected to continue to grow, supported by advancements in inhalation technology and personalized treatment plans.

Others:

In addition to the primary applications mentioned, steroids are also utilized in various other medical scenarios, including cancer treatment, organ transplantation, and certain autoimmune disorders. This broad usage contributes to the overall growth of the steroids market, as healthcare professionals recognize the versatile therapeutic benefits of steroids. The ongoing research into novel steroid-based therapies may further expand the applications of steroids, enabling them to address a wider array of health conditions and patient demographics.

By Distribution Channel

Hospitals & Clinics:

The hospitals and clinics distribution channel is a significant segment for the steroids market, as most steroid prescriptions are written by healthcare professionals in these settings. Healthcare facilities provide comprehensive care, including the administration of injectable steroids and monitoring of patients on steroid therapy. The growing number of outpatient visits for chronic disease management, including allergies and inflammatory conditions, underscores the importance of this distribution channel. As hospitals adopt advanced healthcare technologies and increase patient outreach programs, the demand for steroid medications through this channel is likely to see substantial growth.

Retail Pharmacies:

Retail pharmacies serve as a primary point of access for consumers seeking steroid medications. The convenience and immediacy of purchasing from retail outlets play a significant role in consumer choice, as patients often prefer picking up their medications personally. Additionally, retail pharmacies provide valuable counseling and information about steroid use, ensuring patients adhere to prescribed treatments. The increasing number of retail pharmacy chains and their expanded product offerings, including steroids, are expected to enhance the distribution of these products, leading to an upward trend in sales through this channel.

Online Pharmacies:

The rise of online pharmacies has revolutionized the way consumers access steroid medications. E-commerce platforms provide patients with the convenience of ordering medications from home, often at competitive prices. This growing trend is particularly notable among younger demographics who prefer online shopping for their healthcare needs. Furthermore, online pharmacies often offer discreet packaging and delivery services, addressing privacy concerns associated with purchasing steroids. The transformation of the retail landscape towards digital platforms is anticipated to fuel the growth of steroid sales through online channels, providing greater accessibility to consumers.

Others:

In addition to hospitals, clinics, retail pharmacies, and online platforms, other distribution channels such as specialty pharmacies and direct-to-consumer sales also contribute to the steroids market. Specialty pharmacies often cater to specific patient needs or rare conditions requiring targeted steroid therapies, providing customized services and support. Direct-to-consumer sales models allow manufacturers to engage directly with consumers, offering promotions and educational resources related to steroid use. As these alternative distribution channels gain traction, they are expected to play an increasingly significant role in the overall steroids market.

By Ingredient Type

Testosterone:

Testosterone is one of the most prevalent ingredients in the steroids market, given its fundamental role in hormone replacement therapy and anabolic steroids. The demand for testosterone is predominantly driven by its application in treating testosterone deficiency in aging men and specific health conditions. Furthermore, testosterone's use in bodybuilding and athletic performance enhancement continues to fuel its market growth, despite regulatory pressures. The ongoing research into testosterone formulations aims to improve therapeutic outcomes and reduce side effects, thereby solidifying its position in the market.

Dexamethasone:

Dexamethasone is a potent corticosteroid frequently utilized in treating a variety of inflammatory and autoimmune conditions. Its effectiveness in managing severe allergic reactions, respiratory issues, and certain cancers has made it a critical ingredient in the steroids market. The growing recognition of dexamethasone's role in COVID-19 treatment protocols has further bolstered its demand, with increased prescriptions observed globally. As healthcare providers emphasize the importance of rapid intervention in acute conditions, the market for dexamethasone is expected to continue to thrive.

Prednisone:

Prednisone is another commonly prescribed corticosteroid, known for its effectiveness in treating conditions such as rheumatoid arthritis, lupus, and certain skin disorders. Its availability in both oral and injectable forms enhances its utility in various clinical settings. The ease of administration and established efficacy make prednisone a staple in steroid treatments, contributing to its strong presence in the market. As awareness of autoimmune diseases rises, the demand for prednisone is projected to grow, supported by ongoing research into its applications in new therapeutic areas.

Nandrolone:

Nandrolone is an anabolic steroid that is often used in clinical settings to treat anemia, muscle wasting, and osteoporosis. Its anabolic properties make it popular among bodybuilders and athletes seeking muscle growth and enhanced performance. However, nandrolone's potential for abuse and the associated legal regulations pose significant challenges to its market growth. As the conversation surrounding anabolic steroids evolves, efforts to promote responsible usage and awareness of potential side effects may influence nandrolone's acceptance and utilization in both medical and recreational contexts.

Others:

The "Others" category encompasses a range of steroid ingredients that are utilized for various medical and therapeutic applications. This segment includes corticosteroids like hydrocortisone and betamethasone, which are frequently employed in treating skin conditions and inflammatory disorders. The versatility of these ingredients in various formulations and routes of administration enhances their market appeal. As pharmaceutical companies continue to innovate and develop new steroid formulations that offer enhanced efficacy and reduced side effects, the demand for these 'other' steroid ingredients is expected to grow accordingly.

By Region

The regional analysis of the steroids market reveals distinct trends and growth patterns driven by varying healthcare demands and regulatory environments. North America holds a significant share of the global market, valued at approximately USD 3.0 billion in 2022, buoyed by high healthcare spending, prevalence of chronic diseases, and a well-established pharmaceutical infrastructure. The region is anticipated to witness a CAGR of around 6.8% during the forecast period, primarily due to the increasing demand for hormone replacement therapy and the prevalence of inflammatory diseases. Additionally, the presence of major pharmaceutical companies in North America contributes to the region's dominance in research and development activities.

Europe follows closely behind, with a substantial market valuation of around USD 2.5 billion in 2022. The European market is characterized by a strong emphasis on healthcare regulations, which shapes the landscape for steroid utilization. The increasing prevalence of asthma and allergic conditions is driving the demand for corticosteroids, while growing awareness around anabolic steroid usage in fitness circles influences consumer behavior. The Asia Pacific region, valued at around USD 1.5 billion in 2022, is projected to experience the highest CAGR of approximately 8.5% due to rising healthcare access, increasing awareness about chronic diseases, and a burgeoning fitness culture. Latin America and the Middle East & Africa represent smaller market segments but are expected to grow steadily as healthcare infrastructures improve.

Opportunities

The steroids market presents numerous opportunities for growth, particularly in emerging economies where healthcare access is improving rapidly. As countries in Asia Pacific, Latin America, and parts of Africa enhance their healthcare systems, the demand for effective therapeutic solutions, including steroids, is expected to rise sharply. Additionally, the increasing prevalence of chronic diseases such as diabetes and cardiovascular diseases necessitates the effective management of related inflammatory conditions, creating an urgent need for corticosteroids. Moreover, ongoing innovations in drug delivery systems, including inhalation technologies and advanced injectable formulations, will enhance the efficacy and safety of steroid therapies, thus attracting more patients. This expanding market potential creates a favorable environment for new entrants and existing players to capitalize on emerging trends.

Furthermore, the rising interest in health and fitness, coupled with the increasing acceptance of steroid use among fitness enthusiasts, opens up additional avenues for market growth. Companies that can effectively navigate the regulatory landscape and position their products responsibly within the fitness community stand to benefit significantly. The potential for personalized medicine, where steroid treatments could be tailored to individual patient needs based on genetic profiles, represents a groundbreaking opportunity for innovation in this field. With the continuous investment in research and development, the steroid market is poised to evolve, offering exciting prospects for future growth and development across various application areas.

Threats

Despite the growth opportunities, the steroids market faces significant threats that could hinder its development. One of the primary concerns is the stringent regulatory environment surrounding steroid use, particularly anabolic steroids, which are often associated with misuse and abuse in sports and fitness industries. Regulatory authorities are increasingly imposing strict guidelines and monitoring practices to combat illegal use, which may impact the legitimate pharmaceutical market. This regulatory scrutiny not only affects the availability of anabolic steroids but also places pressure on manufacturers to comply with evolving legal frameworks. Additionally, the negative public perception surrounding steroid use, often linked to their potential side effects and abuse, poses a significant threat to market growth. Addressing these challenges will require ongoing education and transparency from both manufacturers and healthcare providers to build trust and promote responsible usage.

Another threat to the steroids market is the emergence of alternative therapies and treatments that may offer comparable or superior benefits without the associated risks of steroid use. Increasing interest in natural and holistic approaches to health management could lead to a decline in steroid prescriptions as patients opt for safer alternatives. Advances in biotechnology and pharmaceuticals are paving the way for innovative therapies that target the underlying causes of diseases rather than merely addressing symptoms, which could further reduce the demand for steroids. As competition intensifies, steroid manufacturers will need to adapt by investing in research and development to enhance the appeal and safety of their products while addressing public concerns regarding their use. The ability to navigate these challenges will be critical in shaping the future of the steroids market.

Competitor Outlook

• Pfizer Inc.
• Merck & Co., Inc.
• Bristol-Myers Squibb Company
• Teva Pharmaceutical Industries Ltd.
• Novartis AG
• Sandoz International GmbH (a Novartis Division)
• AbbVie Inc.
• Allergan plc
• Mylan N.V.
• Amgen Inc.
• Roche Holding AG
• GSK (GlaxoSmithKline plc)
• AstraZeneca PLC
• Sanofi S.A.
• Hikma Pharmaceuticals PLC

The competitive landscape of the steroids market is characterized by the presence of several key players, each vying for market share through strategic initiatives such as mergers and acquisitions, product innovation, and expanding distribution channels. Leading pharmaceutical companies, such as Pfizer Inc. and Merck & Co., have established themselves as major contributors to the steroids market, driven by their extensive research capabilities and robust product portfolios. These companies invest heavily in R&D to enhance existing steroid formulations and develop new medications that address unmet medical needs. The competitive dynamics are further shaped by the entry of generic manufacturers, which increase market accessibility and drive down prices, thereby providing a unique challenge to established brand players.

Additionally, companies are increasingly focusing on collaborations and partnerships with healthcare providers and organizations to improve awareness and education regarding steroid therapies. This collaborative approach enables manufacturers to gain insights into market trends, patient needs, and potential areas for innovation. The ongoing emphasis on developing safer steroid formulations and advancing drug delivery systems has become a key strategic focus for many players in the market, as it aligns with the growing demand for effective yet safer treatment options. Companies that successfully differentiate their products based on efficacy, safety, and patient compliance are likely to gain a competitive advantage in this evolving landscape.

Furthermore, regulatory compliance and adherence to safety standards remain critical factors influencing the competitive landscape. Companies must navigate complex regulatory pathways to ensure that their products meet the required safety and efficacy standards. This necessitates robust quality control measures and ongoing vigilance concerning the production and distribution of steroids. As public awareness about the potential risks associated with steroid use continues to rise, the ability of companies to communicate transparency and uphold ethical practices will play a significant role in shaping their reputation and success in the market. The combination of competitive strategies, innovation, and regulatory compliance will ultimately determine the winners in the steroids market.

• 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 Amgen 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 Mylan N.V.
    • 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 AbbVie 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 Novartis AG
    • 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 Pfizer 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 Sanofi S.A.
    • 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 Allergan plc
    • 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 AstraZeneca PLC
    • 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 Roche Holding AG
    • 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 Merck & Co., Inc.
    • 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 GSK (GlaxoSmithKline plc)
    • 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 Hikma Pharmaceuticals PLC
    • 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 Bristol-Myers Squibb Company
    • 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 Teva Pharmaceutical Industries Ltd.
    • 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 Sandoz International GmbH (a Novartis Division)
    • 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 Steroids Market, By Application
    • 6.1.1 Hormone Replacement Therapy
    • 6.1.2 Anti-inflammatory
    • 6.1.3 Allergic Reactions
    • 6.1.4 Asthma
    • 6.1.5 Others
  • 6.2 Steroids Market, By Product Type
    • 6.2.1 Anabolic Steroids
    • 6.2.2 Corticosteroids
    • 6.2.3 Injectable Steroids
    • 6.2.4 Oral Steroids
    • 6.2.5 Topical Steroids
  • 6.3 Steroids Market, By Ingredient Type
    • 6.3.1 Testosterone
    • 6.3.2 Dexamethasone
    • 6.3.3 Prednisone
    • 6.3.4 Nandrolone
    • 6.3.5 Others
  • 6.4 Steroids Market, By Distribution Channel
    • 6.4.1 Hospitals & Clinics
    • 6.4.2 Retail Pharmacies
    • 6.4.3 Online Pharmacies
    • 6.4.4 Others

• 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 Steroids Market by Region
  • 10.3 Asia Pacific - Market Analysis
    • 10.3.1 By Country
      • 10.3.1.1 India
      • 10.3.1.2 China
      • 10.3.1.3 Japan
      • 10.3.1.4 South Korea
  • 10.4 Latin America - Market Analysis
    • 10.4.1 By Country
      • 10.4.1.1 Brazil
      • 10.4.1.2 Argentina
      • 10.4.1.3 Mexico
  • 10.5 North America - Market Analysis
    • 10.5.1 By Country
      • 10.5.1.1 USA
      • 10.5.1.2 Canada
  • 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 Steroids market is categorized based on

By Product Type

• Anabolic Steroids
• Corticosteroids
• Injectable Steroids
• Oral Steroids
• Topical Steroids

By Application

• Hormone Replacement Therapy
• Anti-inflammatory
• Allergic Reactions
• Asthma
• Others

By Distribution Channel

• Hospitals & Clinics
• Retail Pharmacies
• Online Pharmacies
• Others

By Ingredient Type

• Testosterone
• Dexamethasone
• Prednisone
• Nandrolone
• Others

By Region

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

Key Players

• Pfizer Inc.
• Merck & Co., Inc.
• Bristol-Myers Squibb Company
• Teva Pharmaceutical Industries Ltd.
• Novartis AG
• Sandoz International GmbH (a Novartis Division)
• AbbVie Inc.
• Allergan plc
• Mylan N.V.
• Amgen Inc.
• Roche Holding AG
• GSK (GlaxoSmithKline plc)
• AstraZeneca PLC
• Sanofi S.A.
• Hikma Pharmaceuticals PLC