Alnylam Pharmaceuticals vs Ionis Pharmaceuticals
Alnylam holds the stronger position after Ionis's competing heart drug failed its Phase 3 trial in July 2026, while Alnylam's sales and profits kept climbing.
Alnylam Pharmaceuticals
Biotech that sells FDA-approved RNAi drugs silencing disease-causing genes
Ionis Pharmaceuticals
Ionis makes RNA-targeting drugs (antisense) for rare and cardiometabolic disease
Dimension by dimension
| Dimension | Alnylam Pharmaceuticals | Ionis Pharmaceuticals |
|---|---|---|
| Staying power of the core product | Alnylam shows no visible loss of customers in the financial data reviewed, as assessed July 2026. | Ionis faces heavier direct pressure after its cardiovascular trial setback opened the door to rivals, as assessed July 2026. |
| Exposure to AI | Its RNAi drugs are unlikely to be replaced or absorbed by AI tools. | Its antisense drugs are unlikely to be replaced or absorbed by AI tools. |
| How easily a giant could copy them | Copying is blocked, the drug science is not something a large company can quickly replicate. | Copying is blocked, the drug science is not something a large company can quickly replicate. |
| Pressure from rivals | Alnylam faces lighter pressure after Ionis's competing ATTR-CM drug failed Phase 3 in July 2026. | Ionis faces heavier pressure as Alnylam gains ground in ATTR cardiomyopathy after Ionis's Phase 3 trial setback. |
| Revenue scale and growth | FY2025 net product revenue was $2,987 million, up 81 percent, with Q1 2026 revenue of $1.036 billion, up 121 percent. | FY2025 revenue was $943.7 million, up 33.8 percent, with TTM revenue near $1.06 billion. |
| Profitability | FY2025 net income came in at $314 million, showing the company is turning its sales into profit. | No net income figure is given in the numbers provided. |
Questions people ask
- Ionis vs Alnylam, which one is better positioned against AI disruption?
- Both are rated unlikely to have their products absorbed by AI, so neither company faces meaningfully more exposure than the other on this point. The bigger gap between them comes from competitive pressure and financial results, not AI risk.
- Which company is growing revenue faster, Ionis or Alnylam?
- Alnylam is growing faster and from a larger base, with FY2025 revenue of $2,987 million up 81 percent and Q1 2026 revenue up 121 percent. Ionis grew too, with FY2025 revenue of $943.7 million up 33.8 percent, but its growth rate and total size trail Alnylam's.
- Which company makes more money, Ionis or Alnylam?
- Alnylam reported FY2025 net income of $314 million, showing it converts its sales into profit. The figures provided for Ionis show revenue growth but do not include a net income number.
- Could a big pharmaceutical or tech company copy Ionis or Alnylam's drugs?
- Neither company's drugs are considered easy to copy, both are rated as blocked from imitation by a larger company. This puts them on similar footing when it comes to protection from a bigger player entering their space.
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