mRNA Therapeutics
Biotech Modality · Active
· Health Care
Latest report
2026-05-01 14:04
Companies developing mRNA-based vaccines and therapeutics (post-COVID platform expansion).
Pool
81
Industries
5
Cohort
3
Cohort MCap
44.9B
Layers
5
Topology Rationale
The mRNA therapeutics value chain starts with core platform developers that discover, clinically validate, and commercialize mRNA medicines. Upstream layers provide the research tools, bioprocessing, formulation, fill-finish and trial infrastructure needed to develop and manufacture these products, while adjacent pharma partners can fund, co-develop and globalize commercialization and distributors handle downstream channel access for vaccines and specialty therapeutics.
Value-Chain Layers
1
mRNA Platform Developers & Therapeutic Innovators
Biotech companies developing nucleic-acid-based, vaccine, or advanced therapeutic platforms that can directly participate in the mRNA therapeutics opportunity.
6 companies
| Company | Role | Market Cap | Revenue ($M) | Revenue Growth (%) | GAAP EPS ($/sh) | Equity ($M) | Total Assets ($M) | Cash & Equivalents ($M) |
|---|---|---|---|---|---|---|---|---|
|
BioNTech SE
|
pure-play mRNA therapeutics developer
Healthcare
|
25.7B | — | — | — | — | — | — |
|
Moderna Inc
MRNA
Q1-2026
|
core mRNA medicines platform company
Healthcare
|
18.1B | 389 | 260.2% | -3.4 | 7,408 | 11,488 | 1,908 |
|
CureVac NV
|
mRNA platform and vaccine developer
Healthcare
|
1.0B | — | — | — | — | — | — |
|
Alnylam Pharmaceuticals Inc
ALNY
FY2025
|
RNA therapeutics innovator adjacent to mRNA
Healthcare
|
40.2B | 2,987 | 81.0% | — | — | — | — |
|
Ionis Pharmaceuticals Inc
IONS
Q1-2026
|
nucleic-acid therapeutics platform company
Healthcare
|
12.4B | 246 | 87.0% | -0.56 | 491 | 3,450 | — |
|
Arrowhead Pharmaceuticals Inc
ARWR
Q1-2026
|
RNA medicine developer with delivery know-how
Healthcare
|
9.9B | 264 | — | 0.22 | 568 | 1,604 | 202 |
2
Research Tools, Analytics, CDMO & Clinical Development Infrastructure
Life-science tools and services companies supply reagents, instruments, bioprocessing, manufacturing services and clinical trial execution essential for mRNA discovery and scale-up.
9 companies
| Company | Role | Market Cap | Revenue ($M) | Operating Cash Flow ($M) | Capex ($M) | Free Cash Flow ($M) | GAAP Net Income ($M) |
|---|---|---|---|---|---|---|---|
|
Thermo Fisher Scientific Inc
TMO
Q1-2026
|
biopharma services and life-science tools
Healthcare
|
173.3B | 11,005 | 1,192 | 376 | 825 | 1,651 |
|
Danaher Corporation
DHR
Q1-2026
|
bioprocessing and life-science tools supplier
Healthcare
|
126.5B | 5,951 | 1,322 | 237 | 1,085 | 1,029 |
|
Agilent Technologies Inc
A
Q1-2026
|
analytical and life-science instrumentation
Healthcare
|
31.5B | 1,798 | 268 | 93 | 175 | 305 |
|
Waters Corporation
WAT
FY2025
|
analytical chemistry and bioanalysis tools
Healthcare
|
28.7B | 3,165 | 653 | 113 | — | 643 |
|
Illumina Inc
ILMN
FY2025
|
sequencing tools for discovery and validation
Healthcare
|
18.3B | 4,343 | 1,079 | 148 | 931 | 850 |
|
IQVIA Holdings Inc
IQV
FY2025
|
clinical R&D and analytics services
Healthcare
|
26.3B | 16,310 | 2,654 | 603 | 2,051 | 1,360 |
|
Medpace Holdings Inc
MEDP
Q1-2026
|
CRO supporting clinical development
Healthcare
|
11.8B | 707 | 152 | 7 | — | 124 |
|
ICON PLC
|
outsourced clinical trial services
Healthcare
|
9.0B | — | — | — | — | — |
|
Revvity Inc.
RVTY
FY2025
|
life-science research and diagnostics tools
Healthcare
|
9.2B | 2,855 | — | — | — | — |
3
Drug Delivery, Fill-Finish, Sterilization & Bioprocess Equipment
Specialized equipment providers support formulation, delivery systems, sterile manufacturing and injection-related workflows needed to produce and administer mRNA medicines.
6 companies
| Company | Role | Market Cap | Revenue ($M) | Capex ($M) | Operating Cash Flow ($M) | Gross Margin (%) | Backlog ($M) | Diagnostics Revenue ($M) |
|---|---|---|---|---|---|---|---|---|
|
Becton Dickinson and Company
BDX
Q1-2026
|
biopharma systems and injection hardware
Healthcare
|
41.3B | 5,252 | 108 | 657 | 45.9% | — | — |
|
STERIS plc
STE
Q3-FY2026
|
sterilization and life-sciences processing services
Healthcare
|
20.9B | 1,496 | 279 | 1,006 | — | 542 | — |
|
Abbott Laboratories
ABT
Q1-2026
|
diagnostics and lab equipment exposure
Healthcare
|
158.7B | 11,164 | — | — | 52.4% | — | 2,180 |
|
GE HealthCare Technologies Inc.
GEHC
Q1-2026
|
pharmaceutical diagnostics and healthcare equipment
Healthcare
|
27.1B | 5,131 | 178 | 290 | — | 21,800 | 770 |
|
Hologic Inc
HOLX
Q1-2026
|
diagnostics equipment supporting testing workflows
Healthcare
|
17.0B | 1,048 | 15 | 230 | — | — | 464 |
|
Insulet Corporation
PODD
FY2025
|
drug-delivery platform capability
Healthcare
|
11.1B | 2,708 | 192 | 569 | 71.6% | — | — |
4
Large Pharma Partners, Licensees & Commercialization Scale
Global pharmaceutical companies can partner with mRNA developers, provide capital and development resources, and extend worldwide regulatory and commercial reach.
27 companies
| Company | Role | Market Cap | Revenue ($M) | GAAP EPS ($/sh) | GAAP Net Income ($M) | GAAP Gross Margin (%) |
|---|---|---|---|---|---|---|
|
Eli Lilly and Company
LLY
Q1-2026
|
large-scale pharma development and commercialization
Healthcare
|
760.4B | 19,799 | 8.26 | 7,396 | 81.9% |
|
Johnson & Johnson
JNJ
Q1-2026
|
global pharma and medtech partner capacity
Healthcare
|
547.3B | 24,062 | 2.14 | 5,235 | — |
|
AbbVie Inc
ABBV
Q1-2026
|
large pharma commercialization platform
Healthcare
|
360.6B | 15,002 | 0.39 | — | 71.9% |
|
AstraZeneca PLC
|
global pharma partnering capacity
Healthcare
|
287.1B | — | — | — | — |
|
Merck & Company Inc
MRK
Q1-2026
|
vaccine and pharma development scale
Healthcare
|
274.0B | 16,286 | -1.72 | -4,240 | 74.2% |
|
Novartis AG ADR
|
global pharma licensing and commercialization reach
Healthcare
|
272.7B | — | — | — | — |
|
Amgen Inc
AMGN
Q1-2026
|
large biotech-pharma development partner
Healthcare
|
182.2B | 8,618 | 3.34 | 1,819 | — |
|
Novo Nordisk A/S
|
global pharma capital and commercialization base
Healthcare
|
178.7B | — | — | — | — |
|
Gilead Sciences Inc
GILD
FY2025
|
biopharma partner with antiviral expertise
Healthcare
|
159.9B | 29,443 | 6.78 | 8,510 | 78.4% |
|
Pfizer Inc
PFE
FY2025
|
existing mRNA vaccine commercialization footprint
Healthcare
|
149.4B | 62,579 | 1.36 | 7,771 | 74.3% |
|
Bristol-Myers Squibb Company
BMY
Q1-2026
|
large pharma partnering and launch infrastructure
Healthcare
|
123.7B | 11,489 | 1.31 | 2,677 | 70.2% |
|
Sanofi ADR
|
global vaccine and pharma commercialization platform
Healthcare
|
110.3B | — | — | — | — |
|
Vertex Pharmaceuticals Inc
VRTX
FY2025
|
innovative biotech with advanced therapy partnerships
Healthcare
|
107.7B | 12,001 | 15.32 | 3,953 | 86.2% |
|
GlaxoSmithKline PLC ADR
|
vaccine-focused global pharma capability
Healthcare
|
102.6B | — | — | — | — |
|
Takeda Pharmaceutical Co Ltd ADR
|
global biopharma partner and marketer
Healthcare
|
51.5B | — | — | — | — |
|
argenx NV ADR
|
specialty biotech with partnering relevance
Healthcare
|
48.5B | — | — | — | — |
|
Teva Pharma Industries Ltd ADR
TEVA
Q1-2026
|
broad pharmaceutical commercialization footprint
Healthcare
|
41.2B | 3,982 | 0.31 | 369 | 49.5% |
|
Biogen Inc
BIIB
Q1-2026
|
specialty biotech with neurology commercialization base
Healthcare
|
28.5B | — | — | — | — |
|
United Therapeutics Corporation
UTHR
FY2025
|
specialty biotech commercial infrastructure
Healthcare
|
25.0B | 3,183 | 27.86 | 1,335 | — |
|
Incyte Corporation
INCY
Q1-2026
|
oncology and immunology partnering platform
Healthcare
|
19.8B | 1,273 | 1.47 | 303 | — |
|
Viatris Inc
VTRS
FY2025
|
global pharma channel and manufacturing footprint
Healthcare
|
17.4B | 14,300 | -3 | -3,515 | 35.1% |
|
Summit Therapeutics PLC
SMMT
Q4-2025
|
clinical-stage biotech with partnering model
Healthcare
|
16.2B | — | — | — | — |
|
Genmab AS
|
partner-centric biotech commercialization model
Healthcare
|
16.0B | — | — | — | — |
|
Jazz Pharmaceuticals PLC
JAZZ
FY2025
|
specialty pharma commercial infrastructure
Healthcare
|
12.5B | 4,268 | -5.84 | -356 | 87.5% |
|
Dr. Reddy’s Laboratories Ltd ADR
|
global pharma manufacturing and market access
Healthcare
|
11.5B | — | — | — | — |
|
Axsome Therapeutics Inc
AXSM
FY2025
|
commercial-stage pharma adjacent to channel access
Healthcare
|
9.5B | 638 | — | — | — |
|
Royalty Pharma Plc
RPRX
FY2025
|
capital provider to innovative therapeutics ecosystem
Healthcare
|
29.3B | — | — | 1,324 | — |
5
Distribution, Specialty Channel & Vaccine Delivery Networks
Healthcare distributors and channel intermediaries handle storage, logistics and delivery of vaccines and specialty therapeutics into provider, hospital and pharmacy networks.
3 companies
| Company | Role | Market Cap | Revenue ($M) | Other Revenue ($M) | Operating Cash Flow ($M) | Capex ($M) | Free Cash Flow ($M) |
|---|---|---|---|---|---|---|---|
|
McKesson Corporation
MCK
Q3-FY2026
|
major pharmaceutical distribution platform
Healthcare
|
100.8B | 106,158 | 335 | 1,232 | 175 | 1,057 |
|
Cencora Inc.
COR
Q1-2026
|
global specialty and pharma distribution
Healthcare
|
60.6B | 85,932 | 2,129 | -2,305 | 119 | -2,425 |
|
Cardinal Health Inc
CAH
Q3-FY2026
|
pharmaceutical and specialty solutions distributor
Healthcare
|
47.7B | 60,940 | 1,706 | 1,823 | 146 | — |
Report History
| Generated | Pool | Layers |
|---|---|---|
| 2026-05-01 14:04 | 81 | 5 |