Filing Flows › Industries › Biological Products, (No Diagnostic Substances) › Capital spending and supply chain
Biological Products, (No Diagnostic Substances): capital spending and supply chain
SIC 2836 · 71 companies with filed cash-flow statements
Capital spending, 12 months$3.9B
Operating cash flow$23.5B
Capex / cash flow16%
Capex / revenue3.8%
Top 3 share87%
Analysis
71 companies in Biological Products, (No Diagnostic Substances) (SIC 2836) spent $3.9B on capital projects over their latest twelve months, 16% of the $23.5B their operations generated; the three largest spenders — AMGN, GILD, MRNA — account for 87%.
Capital spending is 3.8% of the industry's $100.7B of annual revenue.
By the industry's asset mix most of it goes to equipment (44%); about $660M is imported.
The largest supplier of that spending is manufacturing structures ($1.1B).
Its largest supplying industries, by the input-output tables: imports ($18.5B), drugs and druggists' sundries ($11.8B), biological product (except diagnostic) manufacturing ($8.7B).
Charts
Capital spending by company
| Company | Capital spending | Operating cash flow | Capex / OCF | Period |
|---|---|---|---|---|
| AMGN Amgen | $2.5B | $12.0B | 20% | TTM to Q3 2026 |
| GILD Gilead Sciences | $699M | $14.5B | 5% | TTM to Q3 2026 |
| MRNA Moderna | $185M | −$1.8B | — | TTM to Q3 2026 |
| BIIB Biogen | $176M | $2.2B | 8% | TTM to Q3 2026 |
| TWST Twist Bioscience | $40.1M | −$53.1M | — | TTM to Q3 FY26 |
| TECH Bio-Techne | $29.4M | $338M | 9% | TTM to Q1 FY27 |
| IOVA Iovance Biotherapeutics | $26.1M | −$190M | — | TTM to Q3 2026 |
| NBIX Neurocrine Biosciences | $26.1M | $1.1B | 2% | TTM to Q3 2026 |
| RGEN Repligen | $23.1M | $130M | 18% | TTM to Q3 2026 |
| PROK Prokidney | $18.6M | −$141M | — | TTM to Q2 2026 |
| TARS Tarsus Pharmaceuticals | $17.5M | $49.9M | 35% | TTM to Q3 2026 |
| KRYS Krystal Biotech | $13.8M | $324M | 4% | TTM to Q3 2026 |
| HALO Halozyme Therapeutics | $12.4M | $898M | 1% | TTM to Q3 2026 |
| EXEL Exelixis | $12.0M | $1.2B | 1% | TTM to Q3 2026 |
| BEAM Beam Therapeutics | $9.6M | −$389M | — | TTM to Q3 2026 |
| RVMD Revolution Medicines | $9.4M | −$1.4B | — | TTM to Q3 2026 |
| GLUE Monte Rosa Therapeutics | $8.9M | −$165M | — | TTM to Q3 2026 |
| ADMA Adma Biologics | $7.9M | $141M | 6% | TTM to Q3 2026 |
| IMCR Immunocore Holdings | $7.8M | −$10.4M | — | TTM to Q3 2026 |
| VCEL Vericel | $7.4M | $65.3M | 11% | TTM to Q3 2026 |
| AUTL Autolus Therapeutics | $7.1M | −$226M | — | TTM to Q2 2026 |
| IBRX ImmunityBio | $6.9M | −$281M | — | TTM to Q2 2026 |
| DNLI Denali Therapeutics | $5.8M | −$444M | — | TTM to Q3 2026 |
| DNA Ginkgo Bioworks Holdings | $4.6M | −$170M | — | TTM to Q2 2026 |
| ADPT Adaptive Biotechnologies | $4.5M | −$4.3M | — | TTM to Q3 2026 |
| NVAX Novavax | $4.3M | −$239M | — | TTM to Q3 2026 |
| DBVT DBV Technologies S.A. | $3.3M | −$188M | — | TTM to Q3 2026 |
| MGTX MeiraGTx Holdings | $3.2M | $13.7M | 24% | TTM to Q2 2026 |
| BSEM BioStem Technologies | $2.9M | −$5.9M | — | TTM to Q2 2026 |
| RGNX Regenxbio | $2.7M | −$152M | — | TTM to Q3 2026 |
| PLX Protalix BioTherapeutics | $2.3M | $9.9M | 23% | TTM to Q2 2026 |
| TCRX TScan Therapeutics | $2.2M | −$116M | — | TTM to Q2 2026 |
| CRSP Crispr Therapeutics AG | $2.1M | −$375M | — | TTM to Q3 2026 |
| ELUT Elutia | $2.0M | −$44.0M | — | TTM to Q2 2026 |
| RXRX Recursion Pharmaceuticals | $2.0M | −$311M | — | TTM to Q3 2026 |
| CGON CG Oncology | $1.9M | −$187M | — | TTM to Q3 2026 |
| BCRX Biocryst Pharmaceuticals | $1.6M | $367M | 0% | TTM to Q3 2026 |
| FATE Fate Therapeutics | $1.5M | −$105M | — | TTM to Q3 2026 |
| IPSC Century Therapeutics | $1.3M | −$86.8M | — | TTM to Q2 2026 |
| KYMR Kymera Therapeutics | $1.3M | −$288M | — | TTM to Q3 2026 |
| IVVD Invivyd | $1.2M | −$108M | — | TTM to Q2 2026 |
| VXRT Vaxart | $855K | $32.8M | 3% | TTM to Q3 2026 |
| VIR Vir Biotechnology | $804K | −$141M | — | TTM to Q3 2026 |
| PRME Prime Medicine | $797K | −$156M | — | TTM to Q2 2026 |
| SCLX Scilex Holding | $726K | −$17.1M | — | TTM to Q2 2026 |
| EDIT Editas Medicine | $691K | −$120M | — | TTM to Q2 2026 |
| VYGR Voyager Therapeutics | $640K | −$109M | — | TTM to Q3 2026 |
| LCTX Lineage Cell Therapeutics | $574K | −$23.8M | — | TTM to Q2 2026 |
| CSBR Champions Oncology | $573K | −$5.6M | — | TTM to Q1 FY27 |
| TSHA Taysha Gene Therapies | $381K | −$132M | — | TTM to Q2 2026 |
| HUMA Humacyte | $367K | −$97.2M | — | TTM to Q2 2026 |
| ACOG Alpha Cognition | $322K | −$30.9M | — | TTM to Q2 2026 |
| MGX Metagenomi Therapeutics | $309K | −$85.5M | — | TTM to Q2 2026 |
| MAZE Maze Therapeutics | $302K | −$107M | — | TTM to Q2 2026 |
| PTHS Pelthos Therapeutics | $295K | −$42.3M | — | TTM to Q2 2026 |
| ATYR aTYR Pharma | $287K | −$43.6M | — | TTM to Q3 2026 |
| TNYA Tenaya Therapeutics | $237K | −$54.4M | — | TTM to Q3 2026 |
| SRZN Surrozen | $222K | −$34.8M | — | TTM to Q2 2026 |
| OCGN Ocugen | $211K | −$63.7M | — | TTM to Q3 2026 |
| ALLO Allogene Therapeutics | $184K | −$109M | — | TTM to Q3 2026 |
Customers and suppliers named in annual reports
| Supplier | Customer | Share of supplier revenue | Evidence | Source |
|---|---|---|---|---|
| AMGN | MCK | 34% | Stated in 10-K (XBRL) | filing |
| AMGN | COR | 27% | Stated in 10-K (XBRL) | filing |
| GILD | Cardinal Health, Inc. (“Cardinal Health”) | 29% | Stated in 10-K (XBRL) | filing |
| GILD | McKesson Corporation (“McKesson”) | 24% | Stated in 10-K (XBRL) | filing |
| GILD | Cencora, Inc. (“Cencora”) | 21% | Stated in 10-K (XBRL) | filing |
| AMGN | CAH | 16% | Stated in 10-K (XBRL) | filing |
| EXEL | Affiliates of Cencora, Inc | 22% | Stated in 10-K (XBRL) | filing |
| EXEL | Affiliates of McKesson Corporation | 19% | Stated in 10-K (XBRL) | filing |
| EXEL | Affiliates of CVS Health Corporation | 15% | Stated in 10-K (XBRL) | filing |
| EXEL | CAH | 12% | Stated in 10-K (customer table) | filing |
| MRNA | CAH | 11% | Stated in 10-K (XBRL) | filing |
| EXEL | RPRX | 3% | Stated in 10-K (sentence) | filing |
| ADPT | Genentech Inc And Roche Group | 17% | Stated in 10-K (XBRL) | filing |
| DTIL | Novartis Pharma AG | 77% | Stated in 10-K (XBRL) | filing |
| CHRS | MCK | 43% | Stated in 10-K (XBRL) | filing |
| PSNL | MRNA | 22% | Stated in 10-K (XBRL) | filing |
| CHRS | COR | 36% | Stated in 10-K (XBRL) | filing |
| DVLT | SCLX | 26% | Stated in 10-K (sentence) | filing |
| CHRS | CAH | 20% | Stated in 10-K (XBRL) | filing |
| PFE | PLX | — | Stated in 10-K (named, share not stated) | filing |
| VYGR | NBIX | — | Stated in 10-K (named, share not stated) | filing |
| TMO | DNA | — | Stated in 10-K (named, share not stated) | filing |
| CAH | SCLX | — | Stated in 10-K (named, share not stated) | filing |
| AMD | RGNX | — | Stated in 10-K (named, share not stated) | filing |
| TWST | GRAL | — | Stated in 10-K (named, share not stated) | filing |
| MRK | IBRX | — | Stated in 10-K (named, share not stated) | filing |
| XENE | NBIX | — | Stated in 10-K (named, share not stated) | filing |
The interactive money flow: switch views, follow each dollar →
Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.