Alnylam Pharmaceuticals, Inc. discovers, develops, manufactures, and commercializes therapeutics based on ribonucleic acid interference in the United States, Europe, and internationally. The company offers ONPATTRO for hereditary transthyretin-mediated (hATTR) amyloidosis; AMVUTTRA for ATTR and hATTR amyloidosis; Leqvio for hypercholesterolemia; Qfitlia for hemophilia A or B; GIVLAARI for acute hepatic porphyria; and OXLUMO for primary hyperoxaluria type 1. It also develops a range of products in Phase 3 trial, such as Nucresiran for ATTR amyloidosis; Zilebesiran for hypertension; Cemdisiran for myasthenia gravis, paroxysmal nocturnal hemoglobinuria, and geographic atrophy; and Elebsiran for hepatitis D virus infections. In addition, the company is developing various products in Phase 2 trial, including Rapirosiran for metabolic dysfunction-associated steatohepatitis; ALN-ANG3 for diabetic kidney disease; ALN-4324 for type 2 diabetes mellitus; Mivelsiran for cerebral amyloid angiopathy, as well as in Phase 1 trial for Alzheimer's disease; and ALN-6400 for bleeding disorders. Further, it develops a range of products in Phase 1 trial, such as ALN-2232 for obesity and weight management; ALN-PNP for non-alcoholic fatty liver disease; ALN-APOC3 for dyslipidemia; ALN-CIDEB for metabolic dysfunction-associated steatohepatitis; ALN-HTT02 for Huntington's disease; ALN-5288 for Alzheimer's disease; ALN-SOD for SOD1 amyotrophic lateral sclerosis; ALN-SNCA for Parkinson's disease; AG-236 for polycythemia vera; ALN-CFB for paroxysmal nocturnal hemoglobinuria; ALN-BCAT for hepatocellular carcinoma; and ALN-4285, ALN-4915, and ALN-F1202 for healthy volunteers. The company has collaborations with Regeneron Pharmaceuticals, Inc.; Roche Holding AG; Sanofi S.A.; Novartis AG; PeptiDream, Inc; Dicerna Pharmaceuticals, Inc.; and Ionis Pharmaceuticals, Inc. Alnylam Pharmaceuticals, Inc. was founded in 2002 and is headquartered in Cambridge, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.7B | $631M | $314M | $465M | 39.8% | 65.2% | -212.8% |
| 2024 | $2.2B | $-179M | $-278M | $-43M | -414.6% | 23.0% | -36.8% |
| 2023 | $1.8B | $-258M | $-440M | $42M | 199.5% | 76.2% | -61.1% |
| 2022 | $1.0B | $-927M | $-1.1B | $-613M | 714.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,037.42 | 1,828.29 | 2,248.24 | 3,713.94 |
| Cost Of Revenue | 168.82 | 310.41 | 323.37 | 681.87 |
| Gross Profit | 868.60 | 1,517.89 | 1,924.87 | 3,032.07 |
| Operating Expense | 1,653.67 | 1,800.06 | 2,101.76 | 2,530.49 |
| Operating Income | -785.07 | -282.18 | -176.88 | 501.58 |
| EBITDA | -926.56 | -258.24 | -178.85 | 631.44 |
| EBIT | -971.02 | -312.30 | -235.52 | 575.78 |
| Pretax Income | -1,126.99 | -433.52 | -377.38 | 323.15 |
| Tax Provision | 4.16 | 6.72 | -99.22 | 9.40 |
| Net Income | -1,131.16 | -440.24 | -278.16 | 313.75 |
| Net Income Common Stockholders | -1,131.16 | -440.24 | -278.16 | 313.75 |
| Total Expenses | 1,822.49 | 2,110.47 | 2,425.13 | 3,212.36 |
| Interest Expense | 155.97 | 121.22 | 141.86 | 252.63 |
| Interest Income | 24.81 | 95.56 | 121.99 | 111.47 |
| Research And Development | 883.02 | 1,004.42 | 1,126.23 | 1,319.78 |
| Selling General And Administration | 770.66 | 795.65 | 975.53 | 1,210.71 |
| Normalized EBITDA | -722 | -150.30 | -5.06 | 676.22 |
| Normalized Income | -969.56 | -354.97 | -150.07 | 357.23 |
| Market Cap | 40,767.57 | 40,767.57 | 40,767.57 | 40,767.57 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Alnylam Pharmaceuticals, Inc.this co. | ALNY | $40.1B | 129.94β premium | 51.66 | 39.8% | 63.96 |
| Zoetis Inc. | ZTS | $51.8B | 18.46 | 14.81 | 80.2% | 13.83 |
| Edwards Lifesciences Corporation | EW | $49.1B | 45.19 | - | - | 31.92 |
| Cardinal Health, Inc. | CAH | $48.1B | 30.13 | -16.91 | -56.1% | 16.64 |
| IDEXX Laboratories, Inc. | IDXX |
| $45.6B |
| 42.53 |
| 28.07 |
| 66.0% |
| 30.41 |
| Becton, Dickinson and Company | BDX | $43.8B | 25.79 | 1.70 | 6.6% | 12.47 |
| Agilent Technologies, Inc. | A | $32.8B | 25.06 | 4.84 | 19.3% | 18.65 |
| GE HealthCare Technologies Inc. | GEHC | $31.5B | 15.07 | 3.03 | 20.1% | 9.87 |
| IQVIA Holdings Inc. | IQV | $27.9B | 20.03 | 4.19 | 20.9% | 11.90 |
| Peer Median | - | 25.43 | 4.19 | 20.1% | 15.23 | |