Pharma & API
Drug makers and generic suppliers, read through their filings, FDA drug shortages, recalls and approvals, tariff and FDA rules, and where US drug and ingredient imports come from.
- Companies covered
- 12
- Latest quarter filed
- Sep 30, 2026
- SEC filings, last 30 days
- 31
- Comment periods open
- 2
- SEC EDGAR read
- 14:58 UTC, Nov 9
This week, measuredNewest first · read 15:58 UTC, Nov 9
+8.5%revenue, quarter on a year earlier
Pharma · AMGN · 10-Q
Amgen reported revenue +8.5% for its quarter to Sep 30, 2026, on a year earlier.
It kept 32% of revenue as operating profit; over twelve months revenue moved +8.2%.
SEC EDGAR · 10-Q (XBRL) · Nov 4, 2026 · read 14:58 UTC, Nov 9 · Pharma & API →
- Nov 3Pharma · VRTX · 10-QVertex reported revenue +11.8% for its quarter to Sep 30, 2026, on a year earlier.It kept 33% of revenue as operating profit; over twelve months revenue moved +10.5%.SEC EDGAR · 10-Q (XBRL) · read 14:58 UTC, Nov 9
- Nov 3Pharma · ABBV · 10-QAbbVie reported revenue +10.3% for its quarter to Sep 30, 2026, on a year earlier.It kept 32% of revenue as operating profit; over twelve months revenue moved +10.7%.SEC EDGAR · 10-Q (XBRL) · read 14:58 UTC, Nov 9
The numbers
US government series, latest print and the change on a year earlier · Federal Reserve Bank of St. Louis (FRED)Ninety days of filings
Every SEC filing by the companies below, one row each · move across to read a dayMon, Nov 9, 2026
No filings by the covered companies
Aug 12 to Nov 9 · 43 filings, 12 in the last seven days · SEC EDGAR. Tall: quarterly and annual reports. Middle: current reports (8-K). Short: other forms. Red: an 8-K item that says something went wrong.
What changed
Filings by the companies below, last 30 days · SEC EDGAR- Nov 5Viatris · 10-QQuarterly report
- Nov 5Viatris · 8-KQuarterly results; Other material event
- Nov 4Amgen · 10-QQuarterly report
- Nov 4Merck · 10-QQuarterly report
- Nov 3AbbVie · 10-QQuarterly report
- Nov 3Amgen · 8-KQuarterly results
- Nov 3Pfizer · 8-KDirector or officer change
- Nov 3Pfizer · 10-QQuarterly report
- Nov 3Pfizer · 8-KQuarterly results
- Nov 3Teva · 10-QQuarterly report
- Nov 3Teva · 8-KQuarterly results
- Nov 3Vertex · 10-QQuarterly report
- Nov 2AbbVie · 8-KDirector or officer change
- Nov 2Vertex · 8-KQuarterly results
17 more in the period, on each company’s EDGAR page.
Rules and notices
Federal Register, last 45 days- Nov 9Rule · Health and Human Services DepartmentMedicare Drug Price Negotiation Program and Medicare Prescription Drug Benefit Program
- Nov 9Rule · Health and Human Services DepartmentMedicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program
- Oct 30Notice · Commerce DepartmentForeign-Trade Zone (FTZ) 46; Authorization of Production Activity; Patheon API, Inc.; (Pharmaceutical Products); Cincinnati, Ohio
- Oct 13Notice · Health and Human Services DepartmentPostapproval Manufacturing Changes to Biosimilar and Interchangeable Biosimilar Products: Questions and Answers; Guidance for Industry; Availability
- Oct 9Notice · Health and Human Services DepartmentPar Health USA LLC, U.S. Agent for PH Health Limited, et al.; Withdrawal of Approval of 37 Abbreviated New Drug Applications
- Oct 9Notice · Health and Human Services DepartmentAmneal Pharmaceuticals of New York, LLC; Withdrawal of Approval of Abbreviated New Drug Application for Celecoxib Capsules, 50 Milligrams, 100 Milligrams, 200 Milligrams, and 400 Milligrams
- Oct 6Notice · Health and Human Services DepartmentTeva Pharmaceuticals USA, Inc., et al.; Withdrawal of Approval of 15 Abbreviated New Drug Applications; Correction
- Oct 2Rule · Health and Human Services DepartmentGlobal Benchmark for Efficient Drug Pricing (GLOBE) Model
- Sep 25Notice · Health and Human Services DepartmentReauthorization of the Biosimilar User Fee Act; Public Meeting; Request for Comments
Matched by title against the industry’s terms; paperwork renewals and meeting notices left out · read 14:57 UTC, Nov 9
Who is exposed
Trailing twelve months to each company’s latest quarter, from its own XBRL filings · SEC EDGARAcross Revenue growth, last twelve months on the twelve beforeUp Operating margin, last twelve monthsSize Revenue, last twelve monthsRing Filed a current report (8-K) this week; red if it says something went wrongDot inside Beyond the scale, pinned to its edge
| Company | Quarter to | Revenue | Growth | Gross margin | Op. margin | Capex / revenue | Capex growth | Inventory days | Backlog |
|---|---|---|---|---|---|---|---|---|---|
| Eli Lilly LLYBranded drugs | Sep 30, 2026 | $86.5B | +45.5% | 83.6% | — | — | — | 469 | — |
| Johnson & Johnson JNJBranded drugs and devices | Sep 27, 2026 | $99.3B | +7.8% | 67.6% | — | 5.6% | +20.9% | 174 | — |
| Merck MRKBranded drugs and vaccines | Sep 30, 2026 | $67.4B | +4.9% | 71.8% | — | 5.9% | -1.5% | 118 | — |
| Pfizer PFEBranded drugs and vaccines | Sep 27, 2026 | $63.6B | +1.3% | 73.4% | — | 3.8% | -11.6% | 216 | — |
| AbbVie ABBVBranded drugs | Sep 30, 2026 | $66.0B | +10.7% | 73.7% | 32.2% | 1.8% | +3.5% | 112 | — |
| Bristol Myers Squibb BMYBranded drugs | Sep 30, 2026 | $50.0B | +4.2% | 69.2% | — | 2.7% | +3.6% | 64 | — |
| Amgen AMGNBiologics | Sep 30, 2026 | $38.9B | +8.2% | 70.9% | 32.4% | 6.3% | +54.6% | 206 | — |
| Gilead GILDAntivirals | Sep 30, 2026 | $31.0B | +6.5% | 79.9% | -7.6% | 2.3% | +38.4% | 111 | — |
| Regeneron REGNBiologics | Sep 30, 2026 | $16.9B | +18.6% | — | 28.8% | 6.0% | +20.1% | — | — |
| Vertex VRTXSpecialty drugs | Sep 30, 2026 | $13.0B | +10.5% | 85.5% | 33.2% | 3.8% | +29.3% | 437 | — |
| Viatris VTRSGenerics | Sep 30, 2026 | $14.7B | +4.3% | 35.3% | -0.0% | 2.5% | +16.2% | 147 | — |
| Teva TEVAGenerics | Sep 30, 2026 | $17.2B | +2.7% | 53.5% | 8.3% | 3.1% | +9.4% | 145 | — |
| Median of 12 with a current year | +7.2% | 71.8% | 28.8% | 3.8% |
Growth compares the latest twelve months with the twelve before. A quarter a company reports only inside a year-to-date total is the difference of the two totals it filed; a ratio is shown only when both sides cover the same four quarters. Backlog is remaining performance obligations, with its change on a year earlier. A dash means the company does not report that line.
Drug shortages
FDA drug shortage list · openFDA- Products in shortage now
- 1,113
- To be discontinued
- 426
- Nov 6Pfizer Inc. · RheumatologyMethylprednisolone Acetate Injection: unavailable, demand increase for the drug
- Nov 4Aurobindo Pharma USA · CardiovascularQuinapril/Hydrochlorothiazide Tablet: unavailable, discontinuation of the manufacture of the drug
- Nov 4Aurobindo Pharma USA · PsychiatryAmphetamine Aspartate Monohydrate, Amphetamine Sulfate, Dextroamphetamine Saccharate, Dextroamphetamine Sulfate Tablet: unavailable, shortage of an active ingredient
- Nov 4Aurobindo Pharma USA · CardiovascularQuinapril Hydrochloride Tablet: unavailable, discontinuation of the manufacture of the drug
- Nov 3Fresenius Kabi USA, LLC · HematologyHeparin Sodium Injection: unavailable
- Nov 3Fresenius Kabi USA, LLC · AnesthesiaDexmedetomidine Hydrochloride Injection: unavailable
- Nov 3Fresenius Kabi USA, LLC · Analgesia/AddictionHydromorphone Hydrochloride Injection: unavailable
- Nov 3Fresenius Kabi USA, LLC · OtherSterile Water Injection: unavailable, demand increase for the drug
Newest updates to products listed as unavailable; counts are package listings, not distinct drugs · read 10:53 UTC, Nov 9
Drug recalls
FDA enforcement reports, last 60 days · openFDA- Oct 28Class II · PRITAM INTERNATIONAL PRIVATE LIMITEDBrush Buddies: CGMP Deviations.
- Oct 28Class I · Par Health USA, LLCArgatroban Injection: Particulate matter: particulate matter identified as cellulose, polystyrene, polyethylene teraphalate, stainless steel, or stopper material
- Oct 28Class II · PRITAM INTERNATIONAL PRIVATE LIMITEDevo: CGMP Deviations.
- Oct 28Class II · PRITAM INTERNATIONAL PRIVATE LIMITEDBrush Buddies: CGMP Deviations.
- Oct 28Class II · PRITAM INTERNATIONAL PRIVATE LIMITEDBB (Brush Buddies) Advanced Whitening: CGMP Deviations.
- Oct 28Class II · PRITAM INTERNATIONAL PRIVATE LIMITEDBrush Buddies: CGMP Deviations.
- Oct 28Class II · PRITAM INTERNATIONAL PRIVATE LIMITEDBB (Brush Buddies) Cavity Protection: CGMP Deviations.
- Oct 28Class II · STRIDES PHARMA INCCinacalcet Tablets: Failed dissolution specifications
Class I is the FDA’s most serious recall class · read 10:53 UTC, Nov 9
What to watch
Comment deadlines and effective dates ahead · Federal Register- Nov 17Comments close · NoticeBiosimilar User Fee Act III Future Needs in the Development of Interchangeable Products Post-Workshop; Draft Strategy Document
- Nov 25Comments close · NoticeReauthorization of the Biosimilar User Fee Act; Public Meeting; Request for Comments
- Nov 30Takes effect · RuleGlobal Benchmark for Efficient Drug Pricing (GLOBE) Model
- Dec 5Takes effect · RuleMedicare Drug Price Negotiation Program and Medicare Prescription Drug Benefit Program
- Jan 1Takes effect · RuleMedicare and Medicaid Programs; CY 2027 Payment Policies Under the Physician Fee Schedule and Other Changes to Part B Payment and Coverage Policies; Medicare Shared Savings Program Requirements; and Medicare Prescription Drug Inflation Rebate Program
Where US supply comes from
US imports, Aug 2026 · UN Comtrade- HS 3004Medicines in doses · $7.2B · +29.3% on a year earlierSwitzerland 15% · India 11% · Ireland 11%
- HS 3002Vaccines, blood and biologics · $5.8B · -15.6% on a year earlierSouth Korea 15% · Ireland 14% · Italy 12%
- HS 2941Antibiotics · $43M · -47.9% on a year earlierChina 43% · Italy 16% · Denmark 10%
- HS 2933Drug ingredients (heterocyclic compounds) · $502M · -40.9% on a year earlierChina 25% · United Kingdom 12% · India 12%
ARCANE reporting
Published investigations that land on this pageNo published ARCANE article on pharma & api yet. The article runner commissions one for this page; it appears here once accepted.