Largest Pharmaceutical Companies by Total Payments
Top 100 companies ranked by total payments to physicians, hospitals, and other healthcare providers.
What This Ranking Tells Us
The Open Payments program tracks every payment pharmaceutical and medical device companies make to physicians and teaching hospitals. The largest companies routinely report hundreds of millions to billions of dollars in annual payments, covering consulting fees, research grants, royalties, speaking engagements, and meals. These payments are legal and often serve legitimate purposes — funding clinical research, compensating expert consultants, and supporting medical education. However, transparency about payment volume helps patients and policymakers understand the financial relationships between industry and healthcare providers.
What the Data Shows
This ranking covers 100 entries from the CMS Open Payments Public Use Files for Program Year 2024. The top-ranked entry, NOVARTIS PHARMACEUTICALS CORPORATION, reports total payments of $672.4M, while the lowest entry on the list reports $17.0M — a span that captures the full range of pharmaceutical-industry engagement within this category. The aggregate total payments across all 100 ranked entries sums to $10.8B, and the average is $108.0M per entry. Large gaps between the top and bottom of a ranking are normal in Open Payments data: a small number of major pharmaceutical manufacturers, large academic medical centers, or prolific research physicians typically account for a disproportionate share of total reported transfers of value.
Concentration is a key signal in this dataset. The single top entry, NOVARTIS PHARMACEUTICALS CORPORATION, represents 6.2% of the total payments aggregated across this ranking. The top 10 entries together represent 49.3% of the total — a useful indicator of how concentrated activity is at the high end of the distribution. In pharmaceutical payment data, high concentration at the top typically reflects a handful of companies with very broad sales forces or extensive patented product portfolios, a few academic medical centers conducting the bulk of industry-sponsored clinical research, or specialist physicians earning royalties from widely-used medical devices they helped invent. A flatter distribution, by contrast, suggests that industry engagement is more evenly spread across the sector.
Every figure on this page is drawn directly from the CMS Open Payments Public Use Files, which pharmaceutical and medical device manufacturers are legally required to report under the Physician Payments Sunshine Act (Section 6002 of the Affordable Care Act). The data covers general payments, research payments, and physician ownership or investment interests. Readers can verify any individual physician or teaching hospital at openpaymentsdata.cms.gov, the official CMS search tool. This ranking surfaces reported financial relationships for transparency purposes only and does not constitute medical advice, a judgment about individual prescribing practices, or evidence of any ethical or legal violation by listed parties. Many large payments fund legitimate research, consulting, and education activities that benefit patient care.
Source: CMS Open Payments, Program Year 2024.
Frequently Asked Questions
What counts as a "payment" in Open Payments?
Open Payments tracks all transfers of value from pharmaceutical and medical device manufacturers to physicians and teaching hospitals. This includes consulting fees, speaking honoraria, research funding, royalties and licenses, meals and beverages, travel and lodging, grants, charitable contributions, and ownership/investment interests. Even a $10 meal is reported if it exceeds the minimum threshold.
Are large payments a sign of corruption?
Not necessarily. The largest payments are typically research grants to academic medical centers, royalties for patented inventions, and consulting fees for expert physicians helping develop new treatments. Research funding alone accounts for billions in annual payments. The purpose of Open Payments is transparency — making these relationships visible so patients and institutions can evaluate potential conflicts of interest themselves.
How does this compare globally?
The U.S. has the most comprehensive pharmaceutical payment disclosure system in the world. While some European countries have voluntary disclosure, and Australia and Japan have limited reporting requirements, no other country matches the detail and scope of the CMS Open Payments database. This makes the U.S. data uniquely valuable for transparency research.
Explore More Rankings
Read our methodology — how this data is sourced, computed, and verified.
Related
Source: CMS Open Payments Database Industry payments to physicians and teaching hospitals · 2025
How to read this leaderboard
This page is generated dynamically from the latest PlainPharmaWatch snapshot of the CMS Open Payments database. Each row reflects an entity's reported total within the selected ranking dimension — companies, states, physicians, or teaching hospitals — and is recomputed on every request so values track the underlying ETL output rather than a frozen build-time copy. CMS publishes the dataset annually, with corrected snapshots issued mid-cycle when Sunshine-Act disputes change a record set. Anywhere PlainPharmaWatch presents a payment total, the figure is reconcilable to the row-level entries in the source dataset published at openpaymentsdata.cms.gov.
The Physician Payments Sunshine Act, enacted as Section 6002 of the Affordable Care Act, requires applicable manufacturers (drug, device, biological, and medical-supply makers) and applicable group purchasing organizations to report transfers of value made to physicians and teaching hospitals. Reportable categories include consulting fees, food and beverage, travel and lodging, education, gifts, speaking compensation, charitable contributions, royalties or licenses, research-related payments, and ownership or investment interests. Some categories are excluded by statute — payments under specific de minimis thresholds, research-related transfers tied to active clinical trials, and certain product samples — and these exclusions explain why aggregate figures here do not match every alternative pharma-spending measure.
Interpreting rank changes
Rank movement between annual releases reflects two distinct phenomena. Real underlying shifts occur when a manufacturer launches a major product, exits a therapeutic area, restructures its commercial organization, or settles a Department of Justice investigation that alters its marketing approach. Reporting-level shifts occur when CMS revises submission guidelines, when applicable-manufacturer definitions change, or when a previously unreported subsidiary begins consolidated reporting. PlainPharmaWatch does not attempt to attribute rank changes to either cause — that requires looking at the underlying payment-category breakdown on each company's detail page, which itself links back to the raw CMS records.
For physicians ranked individually, year-over-year rank instability is the norm: an active clinical-trial principal investigator may receive the bulk of their reported payments in one program year and far less in adjacent years. A surgeon who licenses a successful medical device may show a sudden royalty-driven spike and then stable lower amounts thereafter. Teaching-hospital rankings tend to be more stable because they reflect institution-wide aggregates across many simultaneously active research programs.
Where to look next
Click any entity name to drill into its full per-entity detail page. Company detail pages decompose total payments by category (consulting, food, royalties, etc.) and show the top recipient physicians and teaching hospitals. State detail pages show payments split between physician and teaching-hospital recipients, plus per-physician averages and recipient counts. The methodology page documents ingestion, normalization, and known limitations end-to-end. For context on the Sunshine Act itself and how the Open Payments dataset compares to alternative pharmaceutical-spending measures (Centers for Medicare and Medicaid Services Open Payments Frequently Asked Questions, the U.S. Food and Drug Administration's drug-approval registers, and academic literature on payment-prescribing correlations), the guides section walks through the relevant regulatory background.