Below are the top 25 biotechnology companies based on market capitalization at the end of the second quarter 2012, and Q2 2011, calculated by multiplying the number of outstanding shares by the share price. U.S. companies generally report their numbers of outstanding shares in their 10-Q quarterly earnings filings with the Securities & Exchange Commission. Companies based outside the U.S. either disclose market cap directly, or their numbers of shares “in issue” or “in free issue” in half-year and full-year results disclosures.
For all companies, closing share prices as of the dates of their outstanding-shares figures can be found through any of several free stock information websites. Figures of non-U.S. companies were converted to U.S. dollars from various currencies. 2012 market cap for companies reporting numbers of outstanding shares as of June 30 was calculated using share prices as of June 29, since markets were closed on June 30.