Top Peptide Companies to Watch in 2026

The peptide therapeutics market is worth over $50 billion and growing fast. GLP-1 blockbusters get the headlines, but the companies worth watching in 2026 span big pharma, mid-cap biotech, peptide manufacturing specialists, and early-stage startups with novel platforms. Here is a detailed look at the companies shaping this space — what they do, what they are worth, and why they matter.

The GLP-1 Giants
Big Pharma with Peptide Pipelines
Mid-Cap Biotech: The Next Wave
Peptide Discovery Platforms
Manufacturing Powerhouses: The Peptide CDMOs
Generic Peptide Manufacturers
Emerging Players and Startups
How to Evaluate a Peptide Company
FAQ
The Bottom Line
References

The GLP-1 Giants

These two companies dominate the peptide therapeutics market by revenue and market share. Any list of peptide companies starts here.

1. Eli Lilly (LLY)

Headquarters: Indianapolis, Indiana, USA 2025 Revenue: $65.2 billion (+45%) Key Peptide Products: Mounjaro (tirzepatide), Zepbound (tirzepatide)

Eli Lilly is the fastest-growing pharmaceutical company in the world right now. Mounjaro and Zepbound combined for $11.7 billion in Q4 2025 alone — 61% of total company revenue. Lilly holds over 60% of the U.S. incretin market, and its 2026 guidance of $80-83 billion implies another 25% growth year.

Why it matters in 2026: Lilly's pipeline goes beyond tirzepatide. Orforglipron, an oral non-peptide GLP-1 agonist, is under FDA review with a decision expected mid-2026. Retatrutide, a triple GIP/GLP-1/glucagon agonist that achieved up to 28.7% weight loss in Phase 3, has seven more Phase 3 readouts expected this year. If retatrutide gains approval (estimated 2027-2028), Lilly will own what could be the most effective obesity drug ever tested.

Investment thesis: Premium valuation justified by best-in-class clinical data, accelerating market share, and a pipeline that could sustain double-digit growth through the end of the decade. The risk is concentration — over 60% of revenue now depends on a single molecule (tirzepatide).

2. Novo Nordisk (NVO)

Headquarters: Bagsvaerd, Denmark 2025 Revenue: DKK 309 billion / $45.9 billion (+10% CER) Key Peptide Products: Ozempic, Wegovy, Rybelsus (all semaglutide)

Novo Nordisk built the modern GLP-1 market. Semaglutide is the most prescribed GLP-1 molecule in the world, and Novo retains 62% of global GLP-1 volume market share. The company launched oral Wegovy in January 2026 — the first GLP-1 pill approved for weight loss — to strong initial demand (50,000 weekly prescriptions within three weeks).

Why it matters in 2026: Novo's story in 2026 is about recovery and renewal. The company guided for a 5-13% sales decline — its first since 2017 — driven by U.S. pricing cuts, patent expirations in international markets, and competition from Lilly. But its pipeline tells a different story. CagriSema (semaglutide + cagrilintide) showed 22.7% weight loss in Phase 3 and is expected to file for regulatory approval in early 2026. Amycretin, a GLP-1/amylin dual agonist, demonstrated 22% weight loss in Phase 2 and is entering Phase 3 in 2026.

Investment thesis: Novo trades at roughly 13x trailing earnings — cheap by pharma standards — because analyst expectations have collapsed. If CagriSema files on schedule and amycretin confirms its Phase 2 results, the stock offers significant upside from depressed levels. The risk is execution: Novo needs its pipeline to deliver while managing a pricing downturn.

Big Pharma with Peptide Pipelines

3. Amgen (AMGN)

Headquarters: Thousand Oaks, California, USA Key Peptide Program: MariTide (maridebart cafraglutide)

Amgen's MariTide is one of the most differentiated obesity drugs in development. It is a peptide-antibody conjugate that combines GLP-1 receptor agonism with GIP receptor antagonism — a different approach from the GIP agonism used by tirzepatide. In Phase 2, MariTide achieved up to 20% weight loss at 52 weeks with once-monthly dosing and no weight-loss plateau, suggesting further loss was possible with continued treatment.

Why it matters in 2026: The Phase 3 MARITIME program is actively enrolling. Once-monthly dosing (versus weekly for current GLP-1 drugs) would be a meaningful convenience advantage. Phase 3 studies in cardiovascular disease, heart failure, and obstructive sleep apnea are also being initiated.

4. Pfizer (PFE)

Headquarters: New York, New York, USA Key Peptide Programs: PeptiDream collaboration, former danuglipron program

Pfizer's oral GLP-1 candidate danuglipron was discontinued in 2025 due to high discontinuation rates from GI side effects. That setback cost Pfizer a seat at the GLP-1 table, though the company is reportedly pursuing an extended-release reformulation. Pfizer also collaborates with PeptiDream on peptide-based therapeutics, leveraging PeptiDream's proprietary discovery platform.

Why it matters in 2026: Pfizer's re-entry into the obesity space (if it happens) and its PeptiDream partnership could yield novel peptide drug candidates. But for now, Pfizer is a secondary player in the peptide market.

5. Sanofi (SNY)

Headquarters: Paris, France Key Peptide Focus: Cardiovascular, metabolic, and infectious disease peptides

Sanofi maintains a diversified peptide portfolio spanning multiple therapeutic areas. The company has expertise in peptide synthesis and has been active in licensing deals for metabolic disease candidates. Sanofi's deep commercial infrastructure in diabetes (through its insulin franchise) gives it distribution advantages for any metabolic peptide it brings to market.

6. Johnson & Johnson (JNJ)

Headquarters: New Brunswick, New Jersey, USA Key Peptide Program: Icotrokinra (oral targeted peptide for psoriasis)

J&J submitted icotrokinra to the FDA in July 2025, with an anticipated launch in 2026. If approved, it would be the first oral targeted peptide to block the IL-23 receptor — a novel mechanism for psoriasis treatment. Icotrokinra is also being investigated for psoriatic arthritis and ulcerative colitis.

Why it matters in 2026: Icotrokinra represents a completely different application of oral peptide technology — autoimmune disease rather than metabolic disease. Approval would validate oral peptides as a platform beyond GLP-1.

Mid-Cap Biotech: The Next Wave

7. Boehringer Ingelheim (Private)

Headquarters: Ingelheim, Germany Key Peptide Program: Survodutide (GLP-1/glucagon dual agonist)

Survodutide showed nearly 19% weight loss in Phase 2 and is now in multiple Phase 3 SYNCHRONIZE trials covering obesity (with and without diabetes) and cardiovascular outcomes. The glucagon component differentiates survodutide from pure GLP-1 agonists — glucagon receptor activation may improve lipid metabolism and reduce liver fat.

Why it matters in 2026: Phase 3 readouts from the SYNCHRONIZE program will determine whether survodutide can compete with tirzepatide and retatrutide. Boehringer's strength in respiratory and cardiovascular medicine gives it a different prescriber base than Novo and Lilly.

8. Altimmune (ALT)

Headquarters: Gaithersburg, Maryland, USA Key Peptide Program: Pemvidutide (GLP-1/glucagon dual agonist)

Altimmune is developing pemvidutide for NASH/MASLD, obesity, and alcohol use disorder. The company secured financing through Hercules Capital ($15 million at closing, with up to $85 million more available through 2026).

Why it matters in 2026: Pemvidutide targets the massive NASH/MASLD market, where no peptide therapy has yet been approved. Its dual agonist mechanism and liver-focused development program differentiate it from the obesity-focused competition.

9. Ipsen (IPN)

Headquarters: Paris, France Key Focus: Neuroendocrine tumors, rare diseases, peptide-based oncology

Ipsen has carved out a niche in peptide therapeutics for rare indications, particularly neuroendocrine tumors. Its focused approach on underserved patient populations gives it pricing power and limited direct competition from the GLP-1 giants.

10. Ferring Pharmaceuticals (Private)

Headquarters: Saint-Prex, Switzerland Key Focus: Reproductive health, maternal care, specialty peptides

Ferring has built a specialty business around peptide-based treatments for reproductive health and fertility. Its academic partnerships and innovative peptide platforms serve complex medical needs that larger companies tend to overlook.

Peptide Discovery Platforms

11. PeptiDream (4587.T)

Headquarters: Kawasaki, Japan Key Technology: Peptide Discovery Platform System (PDPS)

PeptiDream's proprietary PDPS technology enables rapid discovery of macrocyclic peptides that can target previously "undruggable" proteins. The company operates a licensing model, partnering with major pharma companies (including Pfizer, Novartis, and Bristol-Myers Squibb) to discover peptide drug candidates.

Why it matters in 2026: PeptiDream sits at the intersection of peptide science and drug discovery. Its platform has generated dozens of clinical candidates across multiple partners. As cyclic and macrocyclic peptides gain traction (the market is projected to grow at a 21.4% CAGR through 2030), PeptiDream's technology becomes more valuable.

Manufacturing Powerhouses: The Peptide CDMOs

The companies that make peptides are as important as the companies that sell them. Global peptide CDMO market revenue is growing at a 20.3% CAGR and is expected to reach $16.7 billion by 2032.

12. Bachem (BANB.SW)

Headquarters: Bubendorf, Switzerland Market Position: #1 global peptide CDMO (17% market share)

Bachem is the world's largest peptide contract manufacturer. It provides end-to-end services from discovery-stage peptide libraries to GMP-scale manufacturing. Bachem's Swiss facilities are among the most advanced peptide manufacturing sites globally, and the company has invested heavily in automated synthesis and quality systems.

Why it matters in 2026: As GLP-1 demand continues to outstrip manufacturing capacity, Bachem's established infrastructure and regulatory track record give it a significant competitive advantage. Switzerland alone contributes over 12% of global GMP peptide capacity, and Bachem is the largest contributor.

13. PolyPeptide Group (PPGN.SW)

Headquarters: Malmoe, Sweden (operations in Switzerland, Belgium, India, USA) Market Position: Top-3 global peptide CDMO

PolyPeptide provides GMP manufacturing of peptide and peptidomimetic active pharmaceutical ingredients. The company operates facilities across multiple continents, giving it geographic diversification that clients increasingly demand.

14. CordenPharma

Headquarters: Basel, Switzerland Market Position: Top-3 global peptide CDMO

CordenPharma announced an investment of over EUR 900 million into peptide manufacturing expansion, including a new greenfield facility near Basel with over 5,000L SPPS (solid-phase peptide synthesis) capacity and upgrades to its Boulder, Colorado facility. CEO Dr. Michael Quirmbach has stated publicly that "there is a clear shortage of manufacturing capacity globally."

Why it matters in 2026: CordenPharma's aggressive investment positions it to capture significant share of the growing demand from GLP-1 programs and the broader peptide pipeline. Its dual U.S.-European footprint appeals to companies seeking geographic manufacturing redundancy.

Other Notable CDMOs

AmbioPharm: Major U.S.-based peptide manufacturer
CPC Scientific: Peptide synthesis and custom manufacturing
CSBio: Automated peptide synthesizer manufacturer and CDMO
Thermo Fisher Scientific: Expanding peptide manufacturing capabilities through acquisition
Piramal Pharma: Growing peptide CDMO operations in India
ScinoPharm: Taiwanese peptide manufacturer with growing GLP-1 capacity

Generic Peptide Manufacturers

The semaglutide patent expirations in Canada, India, China, and Brazil in 2026 have activated a new wave of generic peptide companies.

15-20. Generic Players to Watch

Sandoz: Expected to be among the first to launch generic semaglutide in Canada.
Apotex: Also preparing for Canadian generic semaglutide launch.
Lupin: Developing injectable and tablet semaglutide for India and South Africa. The company targets India's semaglutide market, which could be worth $1 billion annually.
Dr. Reddy's Laboratories: Scaling up generic semaglutide manufacturing for international markets.
Biocon: India-based biosimilar specialist with peptide manufacturing capabilities.
Sun Pharma: India's largest pharmaceutical company, entering the generic peptide space.

In China, at least 15 companies are developing generic semaglutide, with 11 candidates in late-stage clinical trials. Major players include United Laboratories, CSPC Pharmaceutical Group, and Huadong Medicine.

Emerging Players and Startups

Jiangsu Hengrui Medicine

China's largest pharmaceutical company by R&D spending has attracted over $400 million in licensing deals for its obesity drug candidates. Hengrui represents the growing Chinese pharmaceutical industry's push into the global peptide market.

SK pharmteco

This South Korean CDMO is building a $260 million peptide manufacturing facility, scheduled to open in 2026. The investment underscores Asia-Pacific's growing role in peptide manufacturing.

Zealand Pharma

Danish biotech focused on peptide-based therapeutics for metabolic and gastrointestinal diseases. Zealand has a long-standing partnership with Boehringer Ingelheim (survodutide was originally a Zealand molecule).

How to Evaluate a Peptide Company

Not all peptide companies are created equal. Here are the factors that matter most when assessing companies in this space:

Clinical Data Quality

The GLP-1 market has shown that even a few percentage points of difference in weight loss efficacy can determine market share. Look for head-to-head trial data, not just placebo comparisons.

Manufacturing Capability

Peptide manufacturing is technically demanding and capital-intensive. Companies that own or control their manufacturing (Novo, Lilly) or have deep CDMO relationships have a structural advantage.

Pipeline Breadth vs. Depth

Novo Nordisk derives over 80% of revenue from one molecule family (semaglutide). Eli Lilly has diversified into oncology and neurology. Single-molecule concentration creates both upside (if the molecule keeps winning) and risk (if it does not).

Regulatory Track Record

FDA expertise matters. Companies with multiple prior approvals navigate the regulatory process more efficiently. This is a particular advantage for large pharma over smaller biotech.

Patent Portfolio

Semaglutide's patent situation (49 secondary patents in the U.S., expiring primary patents internationally) illustrates how patent strategy affects long-term revenue protection.

Route of Administration

Oral formulations are the next frontier. Companies with oral peptide technology (Novo with oral semaglutide, Lilly with orforglipron, J&J with icotrokinra) are positioned for the market's next growth wave.

FAQ

Which are the biggest peptide companies by revenue?

Novo Nordisk ($45.9 billion in 2025) and Eli Lilly ($65.2 billion) are the largest by total revenue, though not all revenue comes from peptide products. Among pure-play peptide companies, Bachem is the largest CDMO.

Which peptide stocks have the most growth potential?

Among large-cap stocks, Eli Lilly has the strongest near-term growth trajectory (25% revenue growth guided for 2026). Novo Nordisk trades at a lower valuation with recovery potential. Among mid-caps, Amgen (MariTide), Altimmune (pemvidutide), and PeptiDream offer exposure to earlier-stage peptide innovation. CDMOs like Bachem and CordenPharma benefit from the manufacturing boom regardless of which drug company wins.

Are peptide CDMOs a good investment?

The peptide CDMO market is growing at roughly 20% annually, driven by GLP-1 manufacturing demand and expanding clinical pipelines. CDMOs benefit from "picks and shovels" economics — they profit regardless of which individual drug succeeds, as long as overall peptide drug development continues growing.

What about generic peptide companies?

Generic peptide manufacturers will capture significant value as semaglutide patents expire internationally. However, peptide generics are harder to manufacture than small-molecule generics, which limits competition and supports pricing. Companies with established peptide manufacturing expertise (like Lupin, Sandoz, and Chinese manufacturers) are best positioned.

How do I invest in the peptide market broadly?

There is no dedicated peptide ETF. The closest options are biotech or pharmaceutical ETFs that include Novo Nordisk and Eli Lilly. For more concentrated exposure, consider individual stocks across the value chain: drug developers (Novo, Lilly, Amgen), platform companies (PeptiDream), and manufacturers (Bachem, PolyPeptide).

The Bottom Line

The peptide therapeutics industry in 2026 is defined by rapid growth, intense competition, and a manufacturing race to keep up with demand. Eli Lilly and Novo Nordisk sit at the top, but the companies surrounding them — Amgen with its once-monthly MariTide, Boehringer with survodutide, PeptiDream with its discovery platform, Bachem and CordenPharma building the factories that make it all possible — are equally worth watching.

The biggest story of 2026 may not be any single drug approval. It may be the maturation of peptide therapeutics into a fully diversified pharmaceutical category — one that spans obesity, diabetes, oncology, autoimmune disease, rare diseases, and beyond. The companies positioned across that full spectrum, not just in the GLP-1 lane, are the ones building durable long-term value.

PeptideJournal.org does not sell peptides or provide financial advice. This article is for educational purposes only.

References

Eli Lilly. "Lilly Reports Fourth-Quarter 2025 Financial Results and Provides 2026 Guidance." investor.lilly.com, February 2026.
Novo Nordisk. "Annual Report 2025." novonordisk.com, February 2026.
Amgen. "Results from Amgen's Phase 2 Obesity Study of Monthly MariTide." amgen.com, June 2025.
Bullish Bears. "Peptide Companies List 2026." bullishbears.com, 2026.
Research and Markets. "Top 10 Peptide Therapeutics Companies to Watch in 2025 and Beyond." researchandmarkets.com, 2025.
Global Growth Insights. "Top 17 Peptide CDMO Companies in 2025." globalgrowthinsights.com, 2025.
OpenPR. "Peptide CDMO Market to Expand at 15.0% CAGR by 2031." openpr.com, 2024.
Roots Analysis. "Top 10 Peptide Synthesis Companies in 2024." rootsanalysis.com, 2024.
Danelfin. "Top Peptide Therapeutics Stocks and ETFs to Buy." danelfin.com, 2025.
ensun.io. "Top 100 Peptide Therapeutics Companies in 2026." ensun.io, 2026.

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