The report evaluates 5,000 of the largest brands across sectors and countries and publishes over 100 reports, ranking brands across all sectors and countries.
This year, valued at $12.8bn, Johnson & Johnson reigns as the world's most valuable pharmaceutical brand for the fifth consecutive year. This comes despite a 5% brand value- decrease.
This aligns with a broader industry trend that has harmed many of the largest pharmaceutical brands in 2023. There was an average 2% brand value decline year-on-year across the ranking.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market-research data from over 100,000 respondents in 38 countries and across 31 sectors.
Johnson & Johnson is also the strongest pharma brand, overtaking Pfizer to claim the top spot. However, Johnson & Johnson did drop three-point in its Brand Strength Index (BSI) score, now 82.3 out of 100.
Hugo Hensley, valuations director of Brand Finance commented: “It is no coincidence that among widespread falls in brand value across the industry, all the pharma brands that have seen an increase or stable brand strength rating in 2023 have also witnessed an increase in brand value.
"Businesses with a strong brand are better equipped to handle crises and regulatory challenges, making them more resilient in our increasingly volatile world. Building and maintaining a positive brand reputation is vital for long-term success."
CSL is the fastest growing pharma brand, up 32% to $1.3 bn. This is primarily due to CSL's growth in its immunoglobulin portfolio, the acquisition of Vifor Pharma, and the launch of Hemgenix.
Novo Nordisk (brand value up 31% to $3.1bn) follows CSL as the second fastest growing brand pharma brand. This growth is tied to the active promotion and the ramping up of its production of weight-loss drugs, Wegovy and Ozempic.
As part of its analysis, Brand Finance assesses the role that specific brand attributes play in driving overall brand value. Brand Finance assesses how sustainable specific brands are perceived to be, represented by a ‘Sustainability Perceptions Score’.
The value that is linked to sustainability perceptions, the ‘Sustainability Perceptions Value’, is then calculated for each brand.
GSK (brand value down 21% to $3.5bn) has the highest Sustainability Perception Score of any brand included in the Pharma 25 2023 ranking – 4.98. Johnson & Johnson has the highest Sustainability Perceptions Value at $364bn.
Medtronic is the world’s most valuable medical devices brand for the third consecutive year. The brand's value growth was hampered by supply chain, inflation, and currency issues.
In an exciting development, Medtronic announced a strategic collaboration with leading technology company NVIDIA (brand value of $16.3bn). This is aimed at accelerating the use of artificial intelligence to support innovation in healthcare.
Siemens Healthineers (brand value up 28% to $4.2bn) is 2023's fastest-growing medical devices brand. This is caused by a seven-point increase in Brand Strength Index score from 61/100 to 68/100 and AA- rating.
Philips (brand value of $3.9bn) is the strongest medical devices brand with a Brand Strength Index score of 73.29 out of 100 and AA rating. Despite having to recall certain products in 2021, its brand's resilience has allowed a positive recovery.
View the full Brand Finance Healthcare 2023 report here.
