What headwinds? Companies notch double-digit growth

The pharmaceutical industry may be facing significant headwinds from government pricing policies, but you wouldn't know it from the second quarter earnings results.

The industry had a stellar quarter, with nine out of the top 25 pharmas reporting double-digit year-on-year revenue growth, and only one (Teva) reporting a slight loss, Fierce Pharma reports. Even beyond that, 16 of the top 25 pharmas raised their previous 2026 guidance.

This has even been reflected in Australia, with Telix reporting Q2 revenue increasing 21 per cent year-on-year and Neuren reporting sales of Daybue up 30 per cent compared to Q2 2025. CSL didn't join the party, seeing global annual sales fall 1.6 per cent when considered in constant currency. It was still a good enough result to please the markets.