CompaniesRanked

2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Healthcare companies that spend the most on R&D — page 2

Ranks 101–200 of 243 · Fiscal year 2025 · Data as of September 25, 2026

R&D expense
#CompanyR&D expenseYoY15-year trend
101SchrodingerSDGRUS$173M−14.2%
102Cooper CompaniesCOOUS$172M+11.0%
103Telix PharmaceuticalsTLXAU$171M+33.9%
104Rhythm PharmaceuticalsRYTMUS$167M−29.7%
105Biocryst PharmaceuticalsBCRXUS$166M−4.9%
106TG TherapeuticsTGTXUS$160M+69.9%
107GlaukosGKOSUS$151M+10.4%
108Dentsply SironaXRAYUS$150M−9.1%
109HUTCHMED (China)HCMHK$148M−30.1%
110Globus MedicalGMEDUS$147M−10.1%
111MacrogenicsMGNXUS$147M−16.9%
112TeleflexTFXUS$145M+32.8%
113Monte Rosa TherapeuticsGLUEUS$142M+16.4%
114Stoke TherapeuticsSTOKUS$138M+54.7%
115AnaptysbioANABUS$136M−17.0%
116Keros TherapeuticsKROSUS$130M−25.3%
117Karyopharm TherapeuticsKPTIUS$126M−12.3%
118Opko HealthOPKUS$124M+17.9%
119EnovisENOVUS$120M+31.8%
120Pacira BiosciencesPCRXUS$117M+43.8%
121Envista HoldingsNVSTUS$114M+15.0%
122SterisSTEIE$113M+4.9%
123Vanda PharmaceuticalsVNDAUS$109M+46.8%
124Johnson & JohnsonJNJUS$109M−94.1%
125Myriad GeneticsMYGNUS$107M−5.8%
126Supernus PharmaceuticalsSUPNUS$106M−2.4%
127Inspire Medical SystemsINSPUS$103M−9.6%
128Caris Life SciencesCAIUS$102M−10.8%
129Pharming GroupPHARNL$100M+20.7%
130Bio-TechneTECHUS$99.5M+2.9%
131AtricureATRCUS$99.2M+3.2%
132Integra LifesciencesIARTUS$99.0M−14.2%
133Merit Medical SystemsMMSIUS$97.4M+11.3%
134Indivior PharmaceuticalsINDVUS$97.0M−9.3%
135Kiniksa Pharmaceuticals InternationalKNSAGB$96.9M−13.2%
136ValnevaVALNFR$96.4M+20.1%
137McKessonMCKUS$96.0M+35.2%
138PerrigoPRGOIE$95.4M−15.0%
139Ironwood PharmaceuticalsIRWDUS$95.1M−14.6%
140Adaptive BiotechnologiesADPTUS$93.8M−8.9%
141PenumbraPENUS$89.8M−5.3%
142Icu MedicalICUIUS$87.5M−1.3%
143Amphastar PharmaceuticalsAMPHUS$85.8M+16.1%
144Irhythm HoldingsIRTCUS$84.6M+18.4%
145Halozyme TherapeuticsHALOUS$81.5M+3.1%
146Ligand PharmaceuticalsLGNDUS$81.2M+278.9%
147Twist BioscienceTWSTUS$80.3M−11.6%
148MedlineMDLNUS$80.0M+19.4%
149Arcutis BiotherapeuticsARQTUS$77.1M+0.8%
150Alphatec HoldingsATECUS$76.3M−5.5%
151West Pharmaceutical ServicesWSTUS$74.3M+7.5%
152Genedx HoldingsWGSUS$72.0M+57.5%
153ArdelyxARDXUS$71.5M+36.7%
154CaredxCDNAUS$71.4M−1.5%
155Procept BioroboticsPRCTUS$71.3M+14.4%
156VeracyteVCYTUS$70.8M+2.2%
157Transmedics GroupTMDXUS$69.1M+23.4%
158CerusCERSUS$67.7M+15.0%
159MannkindMNKDUS$66.3M+44.6%
160Orthofix MedicalOFIXUS$65.8M−10.6%
161Msa SafetyMSAUS$65.3M−1.8%
162HeartflowHTFLUS$64.9M+49.2%
163Tarsus PharmaceuticalsTARSUS$64.3M+20.5%
164Akebia TherapeuticsAKBAUS$62.4M+65.6%
165Puma BiotechnologyPBYIUS$62.1M+13.0%
166HaemoneticsHAEUS$59.8M−4.7%
167Krystal BiotechKRYSUS$58.0M+8.3%
168ConmedCNMDUS$55.9M+2.7%
169RepligenRGENUS$54.2M+25.4%
170Fulgent GeneticsFLGTUS$53.9M+10.4%
171Emergent BiosolutionsEBSUS$53.2M−24.8%
172Castle BiosciencesCSTLUS$51.9M−0.4%
173Ani PharmaceuticalsANIPUS$51.7M+15.9%
174Integer HoldingsITGRUS$49.5M−7.3%
175BilliontooneBLLNUS$49.4M+34.9%
176AccurayARAYUS$47.9M−3.6%
177Organogenesis HoldingsORGOUS$44.5M−11.4%
178Omada HealthOMDAUS$40.7M+13.3%
179Staar SurgicalSTAAUS$40.1M−11.6%
180LiquidiaLQDAUS$39.3M−17.9%
181RxsightRXSTUS$38.5M+12.2%
182EmbectaEMBCUS$37.3M−52.7%
183Rigel PharmaceuticalsRIGLUS$33.3M+42.4%
184AxogenAXGNUS$32.9M+18.4%
185Phathom PharmaceuticalsPHATUS$32.8M−3.8%
186Aurinia PharmaceuticalsAUPHCA$32.5M+56.4%
187Xeris BiopharmaXERSUS$31.2M+21.9%
188ArtivionAORTUS$31.0M+8.9%
189InnovivaINVAUS$30.6M+124.1%
190AngiodynamicsANGOUS$29.4M+12.3%
191Stevanato GroupSTVNIT$28.7M−16.1%
192VericelVCELUS$27.6M+11.2%
193Phibro Animal HealthPAHCUS$23.7M−18.7%
194Avanos MedicalAVNSUS$23.3M−11.1%
195HarrowHROWUS$20.9M+71.2%
196Treace Medical ConceptsTMCIUS$20.3M−1.5%
197Establishment LabsESTAVG$20.2M+2.7%
198AmarinAMRNIE$19.8M−5.1%
199InogenINGNUS$19.4M−10.2%
200CormedixCRMDUS$19.3M+390.4%

All figures from SEC filings · FY2025 · 100

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