May 2026
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Largest Biopharmaceuticals Public Companies in France
Benchmark revenue and EBITDA valuation multiples for public comps like
Sanofi, Ipsen, Abivax, Virbac and Nanobiotix.
 | Sanofi develops and markets drugs with a concentration in immunology, vaccines, and rare diseases. Although the company offers a diverse array of drugs, its highest revenue generator, Dupixent, accounts for approximately 30% of total sales. Profits for this immunology blockbuster drug are shared with Regeneron. About 45% of total revenue comes from the United States, 20% from Europe, and 6% from China. | $45 | -10% | $108B | $124B | 2.3x | 7.8x | ||
| Ipsen is a global biotechnology company headquartered in France that develops and commercializes medicines across three therapeutic areas: oncology, neuroscience, and rare diseases. Ipsen was founded in 1929 as a consumer healthcare company focused on prescription-based products for digestive disorders and neurological disorders, but in February 2022, Ipsen announced the divestment of its consumer healthcare business, which accounted for only 8% of 2021 revenue. Ipsen has a large global footprint and sells more than 20 drugs in 115 countries. | $189 | +58% | $16B | $15B | 3.2x | 8.7x | ||
| Abivax SA is a France-based clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to stabilize the immune response in patients with chronic inflammatory diseases. Company is evaluating its drug candidate, obefazimod, in Phase 3 clinical trials for the treatment of adults with moderately to severely active ulcerative colitis. Its initial focus is on inflammatory bowel diseases, chronic conditions involving inflammation of the gastrointestinal tract, of which the two common forms are UC and CD. | $122 | +1933% | $10B | $9B | 1720.2x | (33.8x) | ||
| Virbac SA is a drug manufacturing company with a focus on animal health. The company generates the vast majority of its revenue in Europe, and it also has its presence in Europe, North America, Far East Asia, India, Africa & Middle East (IMEA), Pacific, and Latin America. | $422 | +10% | $4B | $4B | 2.2x | 11.2x | ||
| Nanobiotix SA is a clinical-stage biotechnology company that has one operating segment, which focuses on developing product candidates that use its proprietary nanotechnology to transform cancer treatment by increasing the efficacy of radiotherapy. The company develops NanoXray products to help patients receiving radiotherapy by magnifying the effect of radiotherapy within tumor cells without increasing the dose to surrounding healthy tissues. Its product candidate is NBTXR3, a preclinical research program for cancer immunotherapies. | $43 | +907% | $2B | $2B | 55.9x | (150.8x) | ||
| DBV Technologies SA is a clinical-stage specialty biopharmaceutical company focused on changing the field of immunotherapy by developing a novel technology platform called Viaskin. The therapeutic approach is based on epicutaneous immunotherapy or EPIT, its proprietary method of delivering biologically active compounds to the immune system through intact skin using Viaskin, an epicutaneous patch (i.e., a skin patch). Its main product candidate under development is Viaskin Peanut for the treatment of peanut-allergic patients. In addition, the company also has earlier-stage food allergy programs, including Viaskin Milk and Eosinophilic Esophagitis, or EoE. | $4 | +125% | $1B | $924M | 165.0x | (6.6x) | ||
| Inventiva SA is a France-based biopharmaceutical company specialized in developing drugs that impact on nuclear receptors, transcription factors and epigenetic modulation. The company is focused on developing its product candidate, lanifibranor, for the treatment of patients with non-alcoholic steatohepatitis, or NASH, a disease for which there are currently no approved therapies. The company is also involved in developing a portfolio of pre-clinical therapy programs. It operates in the segment of Service delivery and clinical stage research, notably into therapies in the areas of oncology, fibrosis, and rare diseases. All the company's operations are in France. Majority of the group's revenue is derived from its research partnerships with AbbVie and BI. | $5 | +62% | $1B | $928M | 177.9x | (5.8x) | ||
| Medincell SA is a technology-based pharmaceutical firm, aims to optimise the efficiency of medical treatments and make them accessible geographically. The company's product portfolio uses BEPO-patented technology to develop controlled, long-acting injectable medical treatments for a number of therapeutic fields. The firm has a single operating segment: ongoing research and development on processes that use biodegradable polymers to enable the controlled and prolonged release of the active principles of drugs into the human body and animals by means of injection. | $31 | +62% | $1B | $1B | 37.8x | (86.1x) | ||
| Vetoquinol SA operates is a France-based firm serving in the healthcare market. Its focus lies on developing and marketing veterinary drugs mainly in the European region and to a certain extent in America and Asia. Its portfolio of drugs entails anti-infectives, anti- pain inflammatory drugs, cardiovascular and nephrology treatment intended mainly for pets and livestock. | Pet Care+1 | $84 | -3% | $976M | $736M | 1.2x | 5.5x | |
| Valneva SE is a vaccine company focused on developing life-saving vaccines. Its portfolio includes three vaccines for travelers. The segments of the group are Commercialized vaccines which relate to marketed vaccines, the group's vaccines IXIARO/JESPECT, DUKORAL, IXCHIQ; Covid includes development, manufacturing, & distribution related to the COVID-19 vaccine, Vaccine candidates which relate to research and development programs to generate new approvable products to generate future cash flows from product sales through partnering with pharmaceutical companies; & Technologies and services which relate to services and inventions at a commercialization stage. The company generates majority of its revenue from product sales. | $3 | -6% | $576M | $697M | 3.4x | (11.9x) | ||
| Boiron SA is a drug manufacturer that focuses on homeopathic products. The company's revenue is roughly split between its nonproprietary homeopathic medicines and products in its over-the-counter specialties category. Boiron's nonproprietary medicines are generic products that do not refer to any therapeutic indication, while the specialties category includes first-resort products provided in tablet form, are bottled to use as drops, syrups, or ointments. Geographical segments are France, Europe, North America, and other countries. It generates a majority of revenue from France. The company’s products include Oscillococcinum, Stodal and Stodaline, Arnigel, Camilia, Sedatif PC, Coryzalia, Homeoptic, and Homeovox. | $32 | +15% | $556M | $500M | 0.9x | 6.9x | ||
| Genfit SA is a biotechnology company focused on metabolic and inflammatory diseases, with a particular focus on the liver and gastroenterology. The company's research and development activity relies on its expertise in modulating gene expression through nuclear receptors. Genfit utilizes acquisitions, strategic alliances, and licensing agreements in order to fund the further development of its products. It has one segment the research and development of medicines and diagnostic solutions, the marketing of which depends on the success of the clinical development phase. | $10 | +117% | $505M | $563M | 6.9x | (16.1x) | ||
| Cellectis SA is a clinical stage biotechnological company, employing the core proprietary technologies to develop products based on gene-editing, with a portfolio of allogeneic Chimeric Antigen Receptor T-cells, or UCART, product candidates in the field of immuno-oncology and gene-edited hematopoietic stem and progenitor cells, or HSPC product candidates in other therapeutic indications. | $4 | +146% | $380M | $281M | 3.6x | (8.3x) | ||
| Transgene SA is a biotechnology company that designs and develops targeted immunotherapy products for cancer. Transgene's programs utilize viral vector technology with the goal of indirectly or directly killing infected or cancerous cells. The company's portfolio of products in clinical development includes TG4050, an individualized therapeutic vaccine based on the myvac platform, TG4001, a therapeutic vaccine for HPV positive cancers, as well as BT-001 and TG6050, two oncolytic viruses based on the Invir.IO viral backbone. Transgene has several other programs in clinical and pre-clinical development that are based on its core viral vector technology. Geographically, the majority of its operations are located in France. | $1 | +26% | $270M | $140M | 16.8x | (3.6x) | ||
| Sensorion SA is a France-based clinical-stage biotech company dedicated to developing therapies to restore, treat, and prevent hearing loss. The company's product is in phase 2a clinical development, SENS-401 (Arazasetron) in Sudden Sensorineural Hearing Loss (SSNHL). SENS-401 is being developed to treat cochlear pathologies. The Company does business in a single operating segment: conducting research and development to discover drugs to treat inner ear disorders with a view to their future marketing. The company's pipeline programs are SENS-401 SSNHL, SENS-401 CIO, GJB2-GT, GJB2-GT, SENS-401 Cochlear, and others. | $0 | 0% | $238M | $184M | 27.5x | (5.5x) | ||
| Innate Pharma SA is a clinical-stage biotechnology company. It is engaged in developing immunotherapies for cancer patients. Its approach is to harness the innate immune system through therapeutic antibodies and its ANKET (Antibody-based NK cell Engager Therapeutics) proprietary platform. The company's revenue results from payments received to research, collaboration, and licensing agreements signed with pharmaceutical companies. Its product pipeline includes lacutamab, monalizumab, IPH5201, IPH5301, IPH6101, IPH62, IPH6401 and IPH6501. | $2 | -16% | $176M | $163M | 15.7x | (4.9x) | ||
| Guerbet SA is a healthcare company that manufactures and markets medical imaging contrast agents destined for diagnostic purposes. Its products include medical imaging contrast products for x-ray imaging, magnetic resonance imaging, ultrasound imaging and for nuclear medicine. The company markets its products under the brand names such as Xenetix, Optiray, Oxilan, Telebrix, Lipiodol, Dotarem, Endorem, Artirem, Lumirem, and Lipiodol. | $12 | -47% | $155M | $501M | 0.5x | 5.0x | ||
| OSE Immunotherapeutics SA is a France-based biotechnology company focused on the development of immunotherapies for immune activation and regulation in the fields of immuno-oncology and autoimmune diseases. The product portfolio of the company comprises Tedopi, OSE-172, OSE-703, FR104 and OSE-127. | $6 | -11% | $143M | $139M | 1.7x | 2.6x | ||
| Abionyx Pharma is a new generation biotech company dedicated to the discovery and development of innovative therapies for patients without existing or effective treatment. The biotech assets inherited from CERENIS Therapeutics constitute a portfolio of valuable programs for the treatment of cardiovascular diseases and associated metabolic diseases such as NAFLD and NASH as well as an HDL targeted drug delivery platform in oncology, more specifically in Immuno oncology and chemotherapy. | $4 | +162% | $138M | $139M | 29.3x | (22.5x) | ||
| Adocia is a clinical-stage biotechnology company. It specializes in the development of formulations of already approved therapeutic proteins and peptides for the treatment of diabetes and other metabolic diseases. The firm has developed Biochaperone, a proprietary technology platform to enhance the effectiveness of therapeutic proteins. The company's clinical pipeline includes Biochaperone Lispro, Biochaparone Combo, Biochaparone Glucagon, and others. Its pre-clinical pipeline includes BioChaperone LisPram, BioChaperone Glargine GLP-1, and BioChaperone Glucagon GLP1. Its patent portfolio mainly consists of chronic wound healing, insulin therapy, and monoclonal antibodies. | $6 | +36% | $113M | $104M | 23.0x | (5.8x) | ||
| Valerio Therapeutics is a clinical-stage biotechnology company developing drug candidates using two proprietary platforms: the PlatON platform and its DNA decoy mechanism of action, and the V-Body platform generating single-domain therapeutic antibodies. The Company is focused on bringing early-stage first-in-class or disruptive compounds from translational research to clinical proof-ofconcept, a value-creating inflection point appealing to potential partners. Its pipline includes Metabolic Diseases, Immunology & Inflammatory, and Oncology. | $0 | +180% | $107M | $114M | 38.1x | 181.1x | ||
| Eurofins-Cerep SA provides in vitro pharmacology, in vitro ADME-Tox and in vivo PK services and solutions. The company also offers cost-effective drug discovery by identifying at early stages drug candidates and eliminating them. Some solutions provided by the company are - compound management, high-throughout screening, in vitro safety profiling, lead optimization profiling, in vitro ADME profiling, and in vivo PK. | $18,511 | -- | $93M | $69M | 1.4x | 9.1x | ||
| AB Science is a France-based pharmaceutical company specialized in the research, discovery, development, and marketing of protein kinase inhibitors. It is engaged in targeted therapies through tyrosine kinase inhibitors for treating diseases with high medical factor in the field of cancer, chronic inflammatory diseases, neurological degenerative disorders and central nervous systems diseases in both human and veterinary medicine. | $1 | -17% | $78M | $89M | 64.9x | 45.6x | ||
| Maat Pharma SA is a french clinical stage biotech and a pioneer in the development of microbiome based ecosystem therapies dedicated to improving survival outcomes for patients with cancer. | $4 | -37% | $70M | $69M | 18.4x | (2.2x) | ||
| THX Pharma Formerly Theranexus SA is a France based biopharmaceutical company. It is engaged in developing drug candidates to be used in the treatment of central nervous system (CNS) disorders. The company’s therapeutics platform is based on simultaneously targeting neurons and glial cells by creating and developing innovative combinations of two distinct drugs: a CNS drug targeting neuronal activity; and a drug targeting glial cells. The drug candidates of the organization are THN102 to treat excessive daytime sleepiness in Parkinson’s disease, THN201 for the treatment of neurocognitive disorders in Alzheimer’s disease and THN101 for neuropathic pain. | $4 | +277% | $60M | $55M | — | (12.4x) | ||
| Nicox SA is an international ophthalmology company developing solutions to help maintain vision and improve ocular health. Its program in clinical development is NCX 470 (bimatoprost grenod), a novel nitric oxide-donating bimatoprost eye drop, for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension. The company also has a preclinical research program on NCX 1728, a nitric oxide-donating phosphodiesterase-5 inhibitor, with Glaukos. Its first product, VYZULTA in glaucoma, licensed exclusively to Bausch + Lomb, is available commercially in the U.S. and over 15 other territories. Nicox generates revenue from ZERVIATE in allergic conjunctivitis, licensed in multiple geographies. | $0 | +71% | $47M | $42M | 2.2x | 1.9x | ||
| Gensight Biologics SA is a clinical-stage biotechnology group discovering and developing novel therapies for neurodegenerative retinal diseases and diseases of the central nervous system. The company's pipeline leverages two core technology platforms, the Mitochondrial Targeting Sequence and Optogenetics, to help preserve or restore vision in patients suffering from severe degenerative retinal diseases. The group's focus is on ophthalmology, where it develops product candidates to restore eyesight to patients suffering from retinal diseases. The product candidate, LUMEVOQ, was developed using the MTS technology platform and is designed to treat LHON by restoring the function of retinal diseases resulting from mutations. | $0 | -54% | $24M | $36M | 48.4x | (3.6x) | ||
| Aelis Farma SA is a biotechnology Company specializing in the research and development of treatment's related to brain diseases. | $1 | -1% | $19M | $16M | 6.8x | (2.5x) | ||
| Aton is a biopharmaceutical company that foresees a focused future of medicine. The company specializes in the main businesses: Inoviem Scienfic and B Cell Design. The company's services include pre-clinical and Clinical Services, Monoclonal Antibodies Production, Laboratory equipment Production, and Human Tissue Provision. | $0 | +60% | $17M | $22M | 29.1x | (184.7x) | ||
| Poxel SA is a biopharmaceutical company. It is focused on the development of novel treatments for metabolic diseases, including type 2 diabetes and liver diseases, such as nonalcoholic steatohepatitis (NASH) and rare disorders (ALD/AMN). It has developed a portfolio of drug candidates, including its candidates: Imeglimin, for the treatment of type 2 diabetes, and PXL770 and PXL065, for the treatment of NASH. | $0 | -69% | $17M | $31M | 4.0x | (2.2x) | ||
| Advicenne SA is a late-stage biopharmaceutical company. The company is engaged in the development of paediatric friendly therapeutics for the treatment of orphan renal diseases and niche neurology indications. Its goal is to improve the lives of patients from early childhood through adulthood. | $1 | -52% | $15M | $35M | 5.0x | (9.1x) | ||
| NFL Biosciences SA specializes in the research and development of medicines to combat tobacco addiction that use botanical and pharmaceutical agents. NFL-101 is company's core product, targeting smoking addiction. It is a clinically developed, botanical drug that contains an insignificant amount of nicotine and is composed of well characterized, natural tobacco leaf proteins. | $1 | -28% | $13M | $11M | — | (2.5x) | ||
| Oncodesign Precision Medicine SA is a biopharmaceutical company specialised in precision medicine. Its mission is to provide patients with effective diagnostic and therapeutic solutions for resistant and metastatic cancers. | $1 | +33% | $10M | $14M | 47.3x | 2.1x | ||
| Biophytis SA is a France-based clinical-stage biotechnology company engaged in the development of drug candidates for the treatment of age-related and respiratory diseases. The company focuses on therapies that target degenerative processes associated with aging and improve functional outcomes. Its drug candidate, BIO101, is an orally administered small molecule under development for neuromuscular and respiratory indications, including sarcopenia, Duchenne muscular dystrophy (DMD), and respiratory failure. | $0 | -86% | $2M | $9M | — | (0.8x) | ||
| Reboost Blockchain Corp is a company specializing in equity investments in technology companies and securing decentralized protocols. It creates, supports, and develops tech companies and blockchain protocols. | $0 | +23% | $1M | $1M | 81.3x | 35.2x | ||
| Neovacs SA is a biotechnology company focused on the development of "Kinoids", therapeutic vaccines for the treatment of autoimmune, inflammatory diseases, allergies and cancer. | $0 | -100% | $0K | ($239K) | (0.6x) | 0.0x | ||
| Median | $4 | +15% | $141M | $139M | 15.7x | (2.5x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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