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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 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,037.42 | 1,828.29 | 2,248.24 | 3,713.94 |
| Operating 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 |
| 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 |
| Total Expenses | - | 1,822.49 | 2,110.47 | 2,425.13 | 3,212.36 |
| Operating Income | - | -785.07 | -282.18 | -176.88 | 501.58 |
| Total Operating Income As Reported | - | -785.07 | -282.18 | -176.88 | 501.58 |
| EBITDA | - | -926.56 | -258.24 | -178.85 | 631.44 |
| Normalized EBITDA | - | -722 | -150.30 | -5.06 | 676.22 |
| EBIT | - | -971.02 | -312.30 | -235.52 | 575.78 |
| Interest Income | - | 24.81 | 95.56 | 121.99 | 111.47 |
| Interest Expense | - | 155.97 | 121.22 | 141.86 | 252.63 |
| Net Interest Income | - | -131.16 | -25.66 | -19.87 | -141.16 |
| Other Non Operating Income Expenses | - | -6.20 | -17.74 | -6.83 | 7.51 |
| Other Income Expense | - | -210.76 | -125.68 | -180.62 | -37.27 |
| Interest Income Non Operating | - | 24.81 | 95.56 | 121.99 | 111.47 |
| Interest Expense Non Operating | - | 155.97 | 121.22 | 141.86 | 252.63 |
| Net Non Operating Interest Income Expense | - | -131.16 | -25.66 | -19.87 | -141.16 |
| Pretax Income | - | -1,126.99 | -433.52 | -377.38 | 323.15 |
| Tax Provision | - | 4.16 | 6.72 | -99.22 | 9.40 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -42.96 | -22.67 | -45.71 | -1.30 |
| Net Income Continuous Operations | - | -1,131.16 | -440.24 | -278.16 | 313.75 |
| Net Income From Continuing And Discontinued Operation | - | -1,131.16 | -440.24 | -278.16 | 313.75 |
| Net Income From Continuing Operation Net Minority Interest | - | -1,131.16 | -440.24 | -278.16 | 313.75 |
| Net Income | - | -1,131.16 | -440.24 | -278.16 | 313.75 |
| Net Income Common Stockholders | - | -1,131.16 | -440.24 | -278.16 | 313.75 |
| Net Income Including Noncontrolling Interests | - | -1,131.16 | -440.24 | -278.16 | 313.75 |
| Normalized Income | - | -969.56 | -354.97 | -150.07 | 357.23 |
| Diluted NI Availto Com Stockholders | - | -1,131.16 | -440.24 | -278.16 | 313.75 |
| Basic Average Shares | - | 121.69 | 124.91 | 127.65 | 131 |
| Diluted Average Shares | - | 121.69 | 124.91 | 127.65 | 134.68 |
| Reconciled Depreciation | - | 44.47 | 54.05 | 56.67 | 55.66 |
| Reconciled Cost Of Revenue | - | 168.82 | 310.41 | 323.37 | 681.87 |
| Total Unusual Items | - | -204.56 | -107.94 | -173.79 | -44.78 |
| Total Unusual Items Excluding Goodwill | - | -204.56 | -107.94 | -173.79 | -44.78 |
| Special Income Charges | - | -76.59 | 0 | 0 | -42.47 |
| Other Special Charges | - | 76.59 | - | - | 42.47 |
| Gain On Sale Of Security | - | -127.97 | -107.94 | -173.79 | -2.31 |
| General And Administrative Expense | - | 770.66 | 795.65 | 975.53 | 1,210.71 |
| Other Gand A | - | 226.94 | 226.66 | 274.54 | 348.98 |
| Salaries And Wages | - | 411.75 | 423.30 | 531.08 | 668.30 |
| Rent Expense Supplemental | - | 131.97 | 145.69 | 169.91 | 193.44 |
| Rent And Landing Fees | - | 131.97 | 145.69 | 169.91 | 193.44 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Alnylam Pharmaceuticals, Inc.this co. | ALNY | $40.5B | 129.21↑ premium | 51.37 | 39.8% | 61.62 |
| Cardinal Health, Inc. | CAH | $47.2B | 30.27 | -16.99 | -56.1% | 16.71 |
| IDEXX Laboratories, Inc. | IDXX | $44.5B | 42.05 | 27.75 | 66.0% | 30.06 |
| Humana Inc. | HUM | $42.0B | 35.35 | 2.38 | 6.7% | - |
| Becton, Dickinson and Company | BDX |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| $41.2B |
| 24.56 |
| 1.62 |
| 6.6% |
| 12.06 |
| Agilent Technologies, Inc. | A | $39.1B | 29.99 | 5.80 | 19.3% | 22.15 |
| Waters Corporation | WAT | $37.0B | 57.52 | 14.43 | 25.1% | 36.74 |
| Zoetis Inc. | ZTS | $33.3B | 12.47 | 10.01 | 80.2% | 9.90 |
| IQVIA Holdings Inc. | IQV | $31.2B | 22.93 | 4.80 | 20.9% | 13.04 |
| Peer Median | - | 30.13 | 5.30 | 20.1% | 16.71 | |