AI-assembled from public SEC filings
Large-cap biopharma peer review
Descriptive comparison assembled from public SEC filings and verified companyfacts.
This feature-specific review is assembled from a frozen evidence pack of public SEC filing quotes and verified SEC companyfacts numbers. It is descriptive only and makes no judgment about which company is better. It is not a rating, recommendation, endorsement, forecast, or investment advice. Figures are as of their cited filing dates.
Methodology
The cluster is selected mechanically from public SEC SIC 2834 and 2836 companies already present in grepcent's processed universe, then constrained to the large-cap peer set used for this review. The review publishes no proprietary index-membership labels.
Verified Quantitative Matrix
Numbers are templated from frozen SEC companyfacts-derived facts already verified by grepcent. Fiscal periods and filing dates are shown in each cell; code-computed comparisons below only use calendar-aligned periods.
| Metric | LLY | MRK | PFE | ABBV | BMY | AMGN | GILD | VRTX | REGN |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 65,179,000,000 source · NUM_LLY_REVENUE_FY2025 | 65,011,000,000 source · NUM_MRK_REVENUE_FY2025 | 62,579,000,000 source · NUM_PFE_REVENUE_FY2025 | 61,160,000,000 source · NUM_ABBV_REVENUE_FY2025 | 48,194,000,000 source · NUM_BMY_REVENUE_FY2025 | 36,751,000,000 source · NUM_AMGN_REVENUE_FY2025 | 29,443,000,000 source · NUM_GILD_REVENUE_FY2025 | 12,001,300,000 source · NUM_VRTX_REVENUE_FY2025 | 14,342,900,000 source · NUM_REGN_REVENUE_FY2025 |
| Gross margin | 83.04% source · NUM_LLY_GROSS_MARGIN_FY2025 | 74.80% source · NUM_MRK_GROSS_MARGIN_FY2025 | 74.33% source · NUM_PFE_GROSS_MARGIN_FY2025 | 70.24% source · NUM_ABBV_GROSS_MARGIN_FY2025 | 71.08% source · NUM_BMY_GROSS_MARGIN_FY2025 | 67.25% source · NUM_AMGN_GROSS_MARGIN_FY2025 | 78.83% source · NUM_GILD_GROSS_MARGIN_FY2025 | 86.24% source · NUM_VRTX_GROSS_MARGIN_FY2025 | Not available. |
| Operating margin | Not available. | Not available. | Not available. | 24.65% source · NUM_ABBV_OPERATING_MARGIN_FY2025 | Not available. | 24.71% source · NUM_AMGN_OPERATING_MARGIN_FY2025 | 34.04% source · NUM_GILD_OPERATING_MARGIN_FY2025 | 34.77% source · NUM_VRTX_OPERATING_MARGIN_FY2025 | 24.95% source · NUM_REGN_OPERATING_MARGIN_FY2025 |
| Net margin | 31.67% source · NUM_LLY_NET_MARGIN_FY2025 | 28.08% source · NUM_MRK_NET_MARGIN_FY2025 | 12.42% source · NUM_PFE_NET_MARGIN_FY2025 | 6.91% source · NUM_ABBV_NET_MARGIN_FY2025 | 14.64% source · NUM_BMY_NET_MARGIN_FY2025 | 20.98% source · NUM_AMGN_NET_MARGIN_FY2025 | 28.90% source · NUM_GILD_NET_MARGIN_FY2025 | 32.94% source · NUM_VRTX_NET_MARGIN_FY2025 | 31.41% source · NUM_REGN_NET_MARGIN_FY2025 |
| R&D expense | 13,337,000,000 source · NUM_LLY_RESEARCH_AND_DEVELOPMENT_FY2025 | 15,789,000,000 source · NUM_MRK_RESEARCH_AND_DEVELOPMENT_FY2025 | 10,437,000,000 source · NUM_PFE_RESEARCH_AND_DEVELOPMENT_FY2025 | 9,096,000,000 source · NUM_ABBV_RESEARCH_AND_DEVELOPMENT_FY2025 | 9,951,000,000 source · NUM_BMY_RESEARCH_AND_DEVELOPMENT_FY2025 | 7,272,000,000 source · NUM_AMGN_RESEARCH_AND_DEVELOPMENT_FY2025 | 5,799,000,000 source · NUM_GILD_RESEARCH_AND_DEVELOPMENT_FY2025 | 3,909,500,000 source · NUM_VRTX_RESEARCH_AND_DEVELOPMENT_FY2025 | 5,850,200,000 source · NUM_REGN_RESEARCH_AND_DEVELOPMENT_FY2025 |
| R&D / revenue | 20.46% source · NUM_LLY_R_AND_D_INTENSITY_FY2025 | 24.29% source · NUM_MRK_R_AND_D_INTENSITY_FY2025 | 16.68% source · NUM_PFE_R_AND_D_INTENSITY_FY2025 | 14.87% source · NUM_ABBV_R_AND_D_INTENSITY_FY2025 | 20.65% source · NUM_BMY_R_AND_D_INTENSITY_FY2025 | 19.79% source · NUM_AMGN_R_AND_D_INTENSITY_FY2025 | 19.70% source · NUM_GILD_R_AND_D_INTENSITY_FY2025 | 32.58% source · NUM_VRTX_R_AND_D_INTENSITY_FY2025 | 40.79% source · NUM_REGN_R_AND_D_INTENSITY_FY2025 |
| Capital expenditures | 7,841,000,000 source · NUM_LLY_CAPEX_FY2025 | 4,112,000,000 source · NUM_MRK_CAPEX_FY2025 | 2,629,000,000 source · NUM_PFE_CAPEX_FY2025 | 1,214,000,000 source · NUM_ABBV_CAPEX_FY2025 | 1,311,000,000 source · NUM_BMY_CAPEX_FY2025 | 1,858,000,000 source · NUM_AMGN_CAPEX_FY2025 | 563,000,000 source · NUM_GILD_CAPEX_FY2025 | 437,600,000 source · NUM_VRTX_CAPEX_FY2025 | 898,400,000 source · NUM_REGN_CAPEX_FY2025 |
| Free cash flow | 8,972,000,000 source · NUM_LLY_FREE_CASH_FLOW_FY2025 | 12,360,000,000 source · NUM_MRK_FREE_CASH_FLOW_FY2025 | 9,075,000,000 source · NUM_PFE_FREE_CASH_FLOW_FY2025 | 17,816,000,000 source · NUM_ABBV_FREE_CASH_FLOW_FY2025 | 12,845,000,000 source · NUM_BMY_FREE_CASH_FLOW_FY2025 | 8,100,000,000 source · NUM_AMGN_FREE_CASH_FLOW_FY2025 | 9,456,000,000 source · NUM_GILD_FREE_CASH_FLOW_FY2025 | 3,193,800,000 source · NUM_VRTX_FREE_CASH_FLOW_FY2025 | 4,080,500,000 source · NUM_REGN_FREE_CASH_FLOW_FY2025 |
| Dividends paid | 5,384,000,000 source · NUM_LLY_DIVIDENDS_PAID_FY2025 | 8,176,000,000 source · NUM_MRK_DIVIDENDS_PAID_FY2025 | Not available. | 11,657,000,000 source · NUM_ABBV_DIVIDENDS_PAID_FY2025 | 5,045,000,000 source · NUM_BMY_DIVIDENDS_PAID_FY2025 | 5,124,000,000 source · NUM_AMGN_DIVIDENDS_PAID_FY2025 | 4,003,000,000 source · NUM_GILD_DIVIDENDS_PAID_FY2025 | Not available. | 370,300,000 source · NUM_REGN_DIVIDENDS_PAID_FY2025 |
| Share buybacks | 4,108,000,000 source · NUM_LLY_SHARE_BUYBACKS_FY2025 | 5,084,000,000 source · NUM_MRK_SHARE_BUYBACKS_FY2025 | 0.00 source · NUM_PFE_SHARE_BUYBACKS_FY2024 Non-aligned period: 2024-Q4; row majority 2025-Q4. | 980,000,000 source · NUM_ABBV_SHARE_BUYBACKS_FY2025 | 0.00 source · NUM_BMY_SHARE_BUYBACKS_FY2025 | 0.00 source · NUM_AMGN_SHARE_BUYBACKS_FY2025 | 1,922,000,000 source · NUM_GILD_SHARE_BUYBACKS_FY2025 | 2,017,400,000 source · NUM_VRTX_SHARE_BUYBACKS_FY2025 | 3,438,600,000 source · NUM_REGN_SHARE_BUYBACKS_FY2025 |
| Liabilities / equity leverage | 3.24 source · NUM_LLY_LIABILITIES_TO_EQUITY_FY2025 | 1.60 source · NUM_MRK_LIABILITIES_TO_EQUITY_FY2025 | 1.40 source · NUM_PFE_LIABILITIES_TO_EQUITY_FY2025 | Not available. | 3.87 source · NUM_BMY_LIABILITIES_TO_EQUITY_FY2025 | 9.46 source · NUM_AMGN_LIABILITIES_TO_EQUITY_FY2025 | 1.60 source · NUM_GILD_LIABILITIES_TO_EQUITY_FY2025 | 0.37 source · NUM_VRTX_LIABILITIES_TO_EQUITY_FY2025 | 0.30 source · NUM_REGN_LIABILITIES_TO_EQUITY_FY2025 |
| Cash and equivalents | 7,268,000,000 source · NUM_LLY_CASH_FY2025 | 14,565,000,000 source · NUM_MRK_CASH_FY2025 | 1,142,000,000 source · NUM_PFE_CASH_FY2025 | 5,229,000,000 source · NUM_ABBV_CASH_FY2025 | 10,209,000,000 source · NUM_BMY_CASH_FY2025 | 9,129,000,000 source · NUM_AMGN_CASH_FY2025 | Not available. | 5,084,800,000 source · NUM_VRTX_CASH_FY2025 | 3,118,100,000 source · NUM_REGN_CASH_FY2025 |
Code-computed comparisons
- grepcent-computed R&D intensity range: range endpoints are ABBV (14.87%) and REGN (40.79%).
- Reported net margin range: range endpoints are ABBV (6.91%) and VRTX (32.94%).
Narrative Matrix
| Dimension | LLY | MRK | PFE | ABBV | BMY | AMGN | GILD | VRTX | REGN |
|---|---|---|---|---|---|---|---|---|---|
| Business model | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Geographic and customer exposure | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Capital allocation | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Stated strategy in filings | Quarantined: no direct dimension-relevant quote survived the gate. | In its latest annual MD&A, MRK describes this stated strategy in filings item. [FACT:Q_MRK_STATED_STRATEGY_1] The Company is diversifying its oncology portfolio and executing on its strategy which is broadly based on three strategic pillars: immuno-oncology, precision molecular targeting and tissue targeting. company page · source filing · fact Q_MRK_STATED_STRATEGY_1 · filed 2026-02-24 | Quarantined: no direct dimension-relevant quote survived the gate. | In its latest annual MD&A, ABBV describes this stated strategy in filings item. [FACT:Q_ABBV_STATED_STRATEGY_1] The company’s pipeline is focused on such important therapeutic areas as immunology, neuroscience, oncology and aesthetics and other specialties, including obesity. company page · source filing · fact Q_ABBV_STATED_STRATEGY_1 · filed 2026-02-20 | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | In its latest annual MD&A, GILD describes this stated strategy in filings item. [FACT:Q_GILD_STATED_STRATEGY_1] Our strategic priorities, as refreshed in late 2025, to deliver on these ambitions include: (i) maximize impact of long-acting HIV therapies; (ii) accelerate our pipeline build in oncology and inflammation; (iii) adopt and scale artificial intelligence to transform how we work; (iv) prioritize investments for highest impact; and (v) strengthen collaboration to accelerate innovation. company page · source filing · fact Q_GILD_STATED_STRATEGY_1 · filed 2026-02-24 | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Idiosyncratic risks in filings | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
| Recent narrative change | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. | Quarantined: no direct dimension-relevant quote survived the gate. |
Gate summary
Quarantined quantitative rows
- No quantitative metric rows quarantined.
Quarantined dimensions
- business_model: No verified cells survived the gate.
- geographic_customer_exposure: No verified cells survived the gate.
- capital_allocation: No verified cells survived the gate.
- idiosyncratic_risks: No verified cells survived the gate.
- recent_narrative_change: No verified cells survived the gate.
Quarantined cells
- LLY / business_model: No direct dimension-relevant quote survived the evidence gate.
- MRK / business_model: No direct dimension-relevant quote survived the evidence gate.
- PFE / business_model: No direct dimension-relevant quote survived the evidence gate.
- ABBV / business_model: No direct dimension-relevant quote survived the evidence gate.
- BMY / business_model: No direct dimension-relevant quote survived the evidence gate.
- AMGN / business_model: No direct dimension-relevant quote survived the evidence gate.
- GILD / business_model: No direct dimension-relevant quote survived the evidence gate.
- VRTX / business_model: No direct dimension-relevant quote survived the evidence gate.
- REGN / business_model: No direct dimension-relevant quote survived the evidence gate.
- LLY / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- MRK / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- PFE / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- ABBV / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- BMY / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- AMGN / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- GILD / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- VRTX / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- REGN / geographic_customer_exposure: No direct dimension-relevant quote survived the evidence gate.
- LLY / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- MRK / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- PFE / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- ABBV / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- BMY / capital_allocation: No direct dimension-relevant quote survived the evidence gate.
- AMGN / capital_allocation: No direct dimension-relevant quote survived the evidence gate.