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Amylyx Pharmaceuticals, Inc. had the highest capex growth among pharmaceutical and biotech companies worldwide in 2024, with a growth rate of over  percent. Capital expenditures are defined as funds used by a company to acquire or upgrade physical assets, such as property, industrial buildings, or equipment.

U.S. pharmaceutical and biotech industry

Several of the pharmaceutical and biotech companies with high capex growth rates are based in the United States, for example, Cara Therapeutics, Prokidney, and Kymera Therapeutics. In 2024, the country accounted for over ** percent of the global pharmaceutical market. China, which has a much larger population than the United States, had a roughly percent market share. In the same year, the United States had a nominal spending on medicine of over *** billion U.S. dollars. This was more than double the amount spent back in 2013. 

In 2025, the largest American pharmaceutical company based on revenue was Johnson & Johnson. The multinational biopharmaceutical company is headquartered in New Jersey and annually generates more than ** billion U.S. dollars’ worth of annual revenue.