Top Healthcare Stocks by Gross Margin
Top healthcare companies ranked by gross margin, latest annual filings.
What Gross Margin Means for Healthcare Companies
Gross margin in healthcare spans a wider range than almost any other sector, because the category mixes branded pharmaceutical makers, generic manufacturers, medical device firms, biotech labs, hospitals, insurers, and distributors, each with very different cost bases. Branded drug developers tend to show high gross margins thanks to patent-protected pricing, while generic producers and healthcare distributors work on much thinner gross economics dominated by volume.
Why It Matters in Healthcare
In branded pharma and specialty devices, a durable gross margin often reflects regulatory moats, patent protection, or clinical differentiation that lets the firm set price rather than take it. In generics, distribution, and services, gross margin is compressed and the business competes on throughput. It is worth noting that payer mix, rebates, and contract structures can move reported gross margin period to period in ways that obscure the underlying economics, especially around list-to-net adjustments.
What to Read Alongside
Pair gross margin with [Revenue](/financials/top-revenue-stocks/healthcare/) to frame the commercial scale behind the margin, [Operating Margin](/financials/top-operating-margin-stocks/healthcare/) to account for research spend that weighs heavily on drug developers, and [Net Margin](/financials/top-net-margin-stocks/healthcare/) for the bottom-line view.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | BCRX | BioCryst Pharmaceuticals, Inc. | Healthcare | 97.82% | $2.52B |
| 2 | EXEL | Exelixis, Inc. | Healthcare | 96.39% | $13.38B |
| 3 | NVAX | Novavax, Inc. | Healthcare | 93.50% | $1.41B |
| 4 | RIGL | Rigel Pharmaceuticals, Inc. | Healthcare | 93.33% | $0.68B |
| 5 | INCY | Incyte Corporation | Healthcare | 92.76% | $21.48B |
| 6 | SMLR | Semler Scientific, Inc. | Healthcare | 91.55% | $0.31B |
| 7 | DOCS | Doximity, Inc. | Healthcare | 89.09% | $3.63B |
| 8 | AUPH | Aurinia Pharmaceuticals Inc. | Healthcare | 88.46% | $2.26B |
| 9 | CRMD | CorMedix Inc. | Healthcare | 88.46% | $0.61B |
| 10 | UTHR | United Therapeutics Corporation | Healthcare | 87.92% | $23.07B |
| 11 | CGEN | Compugen Ltd. | Healthcare | 87.29% | $0.19B |
| 12 | NNNN | Anbio Biotechnology | Healthcare | 87.24% | $0.71B |
| 13 | ALKS | Alkermes plc | Healthcare | 86.69% | $8.81B |
| 14 | VRTX | Vertex Pharmaceuticals Incorporated | Healthcare | 86.24% | $121.87B |
| 15 | CPRX | Catalyst Pharmaceuticals, Inc. | Healthcare | 85.19% | $3.85B |
| 16 | TGTX | TG Therapeutics, Inc. | Healthcare | 83.66% | $8.21B |
| 17 | HALO | Halozyme Therapeutics, Inc. | Healthcare | 83.62% | $8.62B |
| 18 | LLY | Eli Lilly and Company | Healthcare | 83.04% | $1005.61B |
| 19 | MDXG | MiMedx Group, Inc. | Healthcare | 82.56% | $0.57B |
| 20 | ALNY | Alnylam Pharmaceuticals, Inc. | Healthcare | 81.77% | $39.14B |
| 21 | INDV | Indivior Pharmaceuticals, Inc. | Healthcare | 80.23% | $4.88B |
| 22 | GILD | Gilead Sciences, Inc. | Healthcare | 78.83% | $153.76B |
| 23 | SPOK | Spok Holdings, Inc. | Healthcare | 78.68% | $0.22B |
| 24 | INMD | InMode Ltd. | Healthcare | 78.54% | $0.85B |
| 25 | ELMD | Electromed, Inc. | Healthcare | 78.08% | $0.33B |
| 26 | EW | Edwards Lifesciences Corporation | Healthcare | 78.01% | $51.66B |
| 27 | BMRN | BioMarin Pharmaceutical Inc. | Healthcare | 77.73% | $11.08B |
| 28 | HRMY | Harmony Biosciences Holdings, Inc. | Healthcare | 77.16% | $1.98B |
| 29 | SNWV | SANUWAVE Health, Inc. | Healthcare | 77.11% | $0.07B |
| 30 | IRMD | IRADIMED CORPORATION | Healthcare | 76.75% | $1.20B |
| 31 | TCMD | Tactile Systems Technology, Inc. | Healthcare | 75.91% | $0.63B |
| 32 | BIIB | Biogen Inc. | Healthcare | 75.69% | $29.82B |
| 33 | VEEV | Veeva Systems Inc. | Healthcare | 75.53% | $25.68B |
| 34 | HROW | Harrow, Inc. | Healthcare | 75.05% | $1.55B |
| 35 | INVA | Innoviva, Inc. | Healthcare | 74.80% | $1.72B |
| 36 | MRK | Merck & Co., Inc. | Healthcare | 74.80% | $309.84B |
| 37 | PBYI | Puma Biotechnology, Inc. | Healthcare | 74.53% | $0.39B |
| 38 | PFE | Pfizer Inc. | Healthcare | 74.33% | $134.91B |
| 39 | HIMS | Hims & Hers Health, Inc. | Healthcare | 73.84% | $7.57B |
| 40 | ZTS | Zoetis Inc. | Healthcare | 71.84% | $32.62B |
| 41 | PODD | Insulet Corporation | Healthcare | 71.63% | $10.65B |
| 42 | LMAT | LeMaitre Vascular, Inc. | Healthcare | 71.53% | $2.15B |
| 43 | BTMD | biote Corp. | Healthcare | 71.46% | $0.06B |
| 44 | BMY | Bristol-Myers Squibb Company | Healthcare | 71.08% | $113.11B |
| 45 | ABBV | AbbVie Inc. | Healthcare | 70.24% | $429.58B |
| 46 | VCYT | Veracyte, Inc. | Healthcare | 70.10% | $4.67B |
| 47 | ZBH | Zimmer Biomet Holdings, Inc. | Healthcare | 69.71% | $17.60B |
| 48 | HQY | HealthEquity, Inc. | Healthcare | 69.52% | $6.97B |
| 49 | BSX | Boston Scientific Corporation | Healthcare | 69.01% | $65.70B |
| 50 | SIGA | SIGA Technologies, Inc. | Healthcare | 68.59% | $0.28B |
| 51 | BVS | Bioventus Inc. | Healthcare | 68.33% | $0.66B |
| 52 | WAY | Waystar Holding Corp. | Healthcare | 68.33% | $3.64B |
| 53 | BLLN | BillionToOne, Inc. | Healthcare | 68.32% | $5.16B |
| 54 | JNJ | Johnson & Johnson | Healthcare | 67.88% | $589.48B |
| 55 | LIVN | LivaNova PLC | Healthcare | 67.71% | $4.45B |
| 56 | GMED | Globus Medical, Inc. | Healthcare | 67.41% | $11.49B |
| 57 | OPRX | OptimizeRx Corporation | Healthcare | 67.25% | $0.09B |
| 58 | AMGN | Amgen Inc. | Healthcare | 67.25% | $190.42B |
| 59 | ALGN | Align Technology, Inc. | Healthcare | 67.19% | $12.58B |
| 60 | PEN | Penumbra, Inc. | Healthcare | 67.14% | $12.48B |
| 61 | ILMN | Illumina, Inc. | Healthcare | 66.08% | $26.88B |
| 62 | ISRG | Intuitive Surgical, Inc. | Healthcare | 66.00% | $141.56B |
| 63 | COO | The Cooper Companies, Inc. | Healthcare | 65.54% | $13.78B |
| 64 | MDT | Medtronic plc | Healthcare | 65.02% | $103.07B |
| 65 | TECH | Bio-Techne Corporation | Healthcare | 64.80% | $11.07B |
| 66 | HSTM | HealthStream, Inc. | Healthcare | 64.74% | $0.75B |
| 67 | AORT | Artivion, Inc. | Healthcare | 64.40% | $1.10B |
| 68 | NAGE | Niagen Bioscience, Inc. | Healthcare | 64.28% | $0.26B |
| 69 | SYK | Stryker Corporation | Healthcare | 63.96% | $121.18B |
| 70 | XTNT | Xtant Medical Holdings, Inc. | Healthcare | 62.92% | $0.06B |
| 71 | EMBC | Embecta Corp. | Healthcare | 62.64% | $0.18B |
| 72 | KRMD | KORU Medical Systems, Inc. | Healthcare | 62.26% | $0.20B |
| 73 | QGEN | Qiagen N.V. | Healthcare | 62.18% | $8.03B |
| 74 | MASI | Masimo Corporation | Healthcare | 61.90% | $9.42B |
| 75 | NEPH | Nephros, Inc. | Healthcare | 61.87% | $0.04B |
| 76 | IDXX | IDEXX Laboratories, Inc. | Healthcare | 61.80% | $43.78B |
| 77 | CERT | Certara, Inc. | Healthcare | 61.53% | $0.85B |
| 78 | ANIP | ANI Pharmaceuticals, Inc. | Healthcare | 61.36% | $1.89B |
| 79 | LNTH | Lantheus Holdings, Inc. | Healthcare | 61.10% | $7.10B |
| 80 | TRLV | Trulieve Cannabis Corp. | Healthcare | 60.21% | $1.64B |
| 81 | DXCM | DexCom, Inc. | Healthcare | 60.10% | $26.49B |
| 82 | TMDX | TransMedics Group, Inc. | Healthcare | 59.92% | $2.69B |
| 83 | MTD | Mettler-Toledo International Inc. | Healthcare | 59.37% | $25.13B |
| 84 | AIRS | AirSculpt Technologies, Inc. | Healthcare | 59.37% | $0.31B |
| 85 | RMD | ResMed Inc. | Healthcare | 59.36% | $28.81B |
| 86 | COLL | Collegium Pharmaceutical, Inc. | Healthcare | 59.35% | $1.13B |
| 87 | WAT | Waters Corporation | Healthcare | 59.28% | $37.01B |
| 88 | DHR | Danaher Corporation | Healthcare | 59.11% | $136.75B |
| 89 | HAE | Haemonetics Corporation | Healthcare | 59.04% | $3.53B |
| 90 | VMD | Viemed Healthcare, Inc. | Healthcare | 57.52% | $0.45B |
| 91 | ADMA | ADMA Biologics, Inc. | Healthcare | 57.39% | $2.02B |
| 92 | UTMD | Utah Medical Products, Inc. | Healthcare | 57.12% | $0.21B |
| 93 | ANIK | Anika Therapeutics, Inc. | Healthcare | 56.56% | $0.19B |
| 94 | ABT | Abbott Laboratories | Healthcare | 56.42% | $162.41B |
| 95 | TFX | Teleflex Incorporated | Healthcare | 56.24% | $5.66B |
| 96 | EBS | Emergent BioSolutions Inc. | Healthcare | 56.09% | $0.41B |
| 97 | INFU | InfuSystem Holdings, Inc. | Healthcare | 55.98% | $0.18B |
| 98 | SHC | Sotera Health Company | Healthcare | 55.48% | $4.88B |
| 99 | ELAN | Elanco Animal Health Incorporated | Healthcare | 54.99% | $12.17B |
| 100 | PBH | Prestige Consumer Healthcare Inc. | Healthcare | 54.71% | $2.24B |
No companies match this search.
How this ranking is built
Companies are ranked by gross margin as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.