American multinational corporation- Johnson & Johnson has topped the list of pharma companies, in spite of stopping 11% in brand value in the past year. According to Brand Finance’s annual assessment of global pharma names, the New Jersey based company is worth $10.9 billion.
Sources further suggest the company is new entrant to the pharma ranking and has expanded its operations from 10 companies to 25 this year. Roche, last year’s first-place finisher, came in second with a brand value of $7.59 billion, an increase of 9.8%. Bayer finished third at $5.15 billion, staying in its spot despite a 17.1% dip in value.
In the wake of the situation, Richard Haigh, managing director at Brand Finance commented J&J’s strong finish—despite a Q4 financial shortfall and the taint from talc and opioid lawsuits—speaks of its significant heritage brand equity.
“By having a strong brand, J&J is more resilient. You do see scandals with big brands, but it takes quite a few before things really start to go off the boil,” Haigh commented. “I think J&J is still a very well-loved and respected and trusted brand despite some of these issues.”
Experts allege the rise in J&J’s value was also due to the brand’s strong performance in antimicrobial research and development as it also ranked third this year in the Antimicrobial Resistance Benchmark among big research-oriented pharma companies. Furthermore, it was among the first ones to develop a vaccine candidate against the coronavirus outbreak out of China. This will further also positively affect J&J’s brand value for next year.
The fastest-falling brand in the rankings was Pfizer, which lost 20% of its brand value and dropped to No. 6 on the list.