Lilly is the best performing large pharmaceutical company to date this year, and a look at the company’s pipeline helps explain why. Potential treatments for diabetes and Alzheimer’s disease, tirzepatide and donanemab, are among the most successful R&D; projects in the industry, far ahead of the assets of other developers.

This is based on the net present value calculated by Evaluate Pharma, according to seller consensus. The combined value of Lilly’s pipeline stands at $ 45.6 billion on this metric – mostly thanks to the aforementioned assets – and double the NPV of the pipeline from Roche, which ranks second among large pharmaceutical companies.

This analysis is only a snapshot in time, of course, and it should be remembered that a company that has recently launched large products might appear artificially weak. Abbvie, for example, which is at the bottom of the table, is rolling out two new immunology products, Skyrizi and Rinvoq, both of which are set to become mega-blockbusters.

The reasons for the low ranking of Glaxosmithkline, however, are more difficult to find. The company is under tremendous pressure to revitalize its pipeline and has recently gained the attention of militant shareholders who are pushing for action.