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Home Industry News Pharmaceuticals lead the way in European single market

Pharmaceuticals lead the way in European single market

16th November 2005

A select few of the continent’s pharmaceutical companies have risen to be the largest companies in the region, in terms of market value.

Fidelity Investments said that Novartis was the European single market’s second most valued company, with a market value of €122.4 billion. Roche came fourth with a value of €100.4 billion, whilst Sanofi-Aventis was at number six, valued at €89.1 billion.

The companies were ranked by the MSCI Europe ex UK index, which Fidelity used to track the growth or tumble of companies since the single European market for goods and services was agreed in 1985. It found that many previous industry leaders had fallen by the way side.

One pharmaceutical company did experience a dramatic fall. Bayer, the German chemical giant, saw its value fall from eighth to 43rd.

Tim McCarron of Fidelity said that investors should look beyond benchmarks when investing: “The research also makes clear the risks of allowing a benchmark to drive investment decisions. By definition, you fail to gain meaningful exposure to the growing companies until late in their development. To spot the winners of tomorrow, you must look beyond the benchmark.”

track© Adfero Ltd

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