Below are the top 25 biotechnology companies based on market capitalization at the end of the second quarter 2012, and Q2 2011, calculated by multiplying the number of outstanding shares by the share price. U.S. companies generally report their numbers of outstanding shares in their 10-Q quarterly earnings filings with the Securities & Exchange Commission. Companies based outside the U.S. either disclose market cap directly, or their numbers of shares “in issue” or “in free issue” in half-year and full-year results disclosures.
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