Danish firm Novo Nordisk and U.S.-based Eli Lilly have emerged as the world’s most valuable biopharma companies, driven by the explosive growth of obesity treatments. In Korea, Samsung Biologics, Celltrion, and Alteogen secured top positions by demonstrating global competitiveness in CDMO, biosimilars, and platform technologies.

According to rankings released on November 5 by the Korea Biotechnology Industry Organization, citing U.S. analytics platform BullFincher, Novo Nordisk topped the biotech category, while Eli Lilly led among pharmaceutical firms—cementing their leadership in the global biopharmaceutical market.

Eli Lilly claimed the No. 1 spot among global pharmaceutical companies with a market capitalization of about $810 billion. The company posted an earnings surprise in the third quarter, far exceeding market expectations and solidifying its dominance in the obesity drug market.

Fueled by strong sales of Mounjaro and Zepbound, Lilly’s third-quarter revenue surged 54% year-over-year to $17.6 billion. Riding this momentum, the company raised its annual forecast and captured roughly 71% of new obesity drug prescriptions in the U.S.

Novo Nordisk likewise led the biotech category with a market capitalization of $220 billion, driven by robust growth of its obesity therapy Wegovy. Although surpassed by Lilly’s Zepbound in second-quarter sales, Wegovy maintained strong performance with a 67% year-over-year increase to $3.03 billion in revenue.

As obesity drugs reshape the global market, Korean biopharma firms have also entered the world’s top 10, leveraging unique strengths across CDMO, biosimilars, and platform technologies.

Samsung Biologics ranked 5th in biotech with a market capitalization of $40 billion, maintaining leadership in the global CDMO sector. The company operates the world’s largest single-site biomanufacturing capacity of 780,000 liters and recently recorded $3.79 billion in annual contract orders—its highest ever.

Celltrion, ranked 6th with $27 billion in market value, continues to expand globally with its biosimilar portfolio, including Remsima, Truxima, and Herzuma. Remsima posted cumulative sales of $1.82 billion as of the third quarter of 2025, reflecting stable growth. The company also strengthened its U.S. presence by acquiring a production facility in New Jersey.

Alteogen, ranked 8th with a $21 billion valuation, has risen rapidly thanks to its proprietary ALT-B4 subcutaneous formulation platform. The technology reached a major milestone when Merck (MSD) received U.S. FDA approval for Keytruda SC, which incorporates Alteogen’s technology. This marks the platform’s first commercial success, paving the way for future royalty-based revenue.

In contrast, traditional Korean pharmaceutical firms ranked lower globally, with only Yuhan Corporation (60th) and Hanmi Pharmaceutical (76th) appearing in the top 100.

Meanwhile, Chinese companies displayed remarkable growth. Among the top 100 biopharma firms worldwide, China accounted for 63—29 pharmaceutical and 34 biotech—while Korea had 10. Hengrui Pharmaceuticals (16th) and Hansoh Pharma (24th) stood out as China’s leading players.