Pfizer, Merck, AstraZeneca led Big Pharma's growth in Q1 but they couldn't match mRNA hotshots

With overall revenue growth of roughly 16% in the first quarter of 2022, the biopharma industry has continued its thorough recovery from the pandemic.

Twelve of the industry's top 23 companies achieved double-digit growth, with the top five—all fueled by huge sales of COVID-19 products—each exceeding a 50% revenue increase compared with the first quarter of 2021.