Healthcare companies, explained.

Abbott makes and sells medical devices such as FreeStyle Libre glucose sensors and heart devices, diagnostic tests and lab systems, Similac and Ensure nutrition, and branded generic medicines in emerging markets, in more than 160 countries.

AbbVie discovers, makes and sells prescription medicines and aesthetics products for immune, brain, cancer and eye conditions, led by Skyrizi and Rinvoq.

Amgen discovers, makes and sells biotechnology medicines for bone health, cholesterol, inflammation, cancer and rare diseases, plus biosimilars, selling mostly through three large U.S. wholesalers.

AstraZeneca discovers, makes and sells prescription medicines for cancer, heart, lung and rare diseases, led by Farxiga, Tagrisso and Imfinzi.

Bayer is a life science company that sells seeds and crop protection to farmers, prescription medicines and imaging products, and over-the-counter self-care brands.

CVS Health insures people through Aetna, manages their drug benefits through Caremark and fills prescriptions in about 9,000 locations, so it earns from the same patient at several points.

Danone is a French food and drink company that makes yogurt and plant-based products, bottled water such as evian, and baby and medical nutrition under brands like Activia, Alpro, Aptamil and Nutricia, sold in over 120 markets.

Eli Lilly discovers, makes and sells prescription medicines, led by the weight-loss and diabetes drugs Mounjaro and Zepbound, plus cancer, immunology and neuroscience treatments, mostly through wholesalers.

FEMSA is a Monterrey-based group that runs OXXO, Latin America's largest chain of small convenience stores, plus pharmacies, fuel stations and European kiosks, and controls Coca-Cola FEMSA, the world's largest Coca-Cola bottler by volume.

GSK discovers, makes and sells vaccines and specialty and general medicines for HIV, respiratory disease, cancer and infections, led by Shingrix, Trelegy and Dovato.

Haleon makes consumer health brands such as Sensodyne, Panadol, Centrum and Advil, across six categories from oral health to pain relief.

Intuitive makes the da Vinci surgical robots and the Ion lung-biopsy robot, placing them in hospitals through sales and leases and then earning most of its money from the instruments, accessories and service used in every procedure.

Johnson & Johnson discovers and sells prescription medicines for cancer, immune and brain diseases, and medical devices for surgery, heart, orthopaedics and eye care, mostly through wholesalers and hospitals.

Kenvue, spun off from Johnson & Johnson in 2023, sells consumer health brands such as Tylenol, Neutrogena, Listerine, Band-Aid, Aveeno and Zyrtec in more than 165 countries, and is being acquired by Kimberly-Clark.

Kroger runs about 2,700 supermarkets under local banners such as Ralphs, Fred Meyer and Harris Teeter, with pharmacies, fuel centres and online pickup and delivery, and uses loyalty-card data from 63 million households to sell private brands and retail media.

Loblaw is Canada's largest food and pharmacy retailer, running about 2,500 grocery stores and Shoppers Drug Mart pharmacies under banners such as Loblaws, No Frills and Real Canadian Superstore, tied together by its President's Choice brands and PC Optimum loyalty program.

Merck discovers, makes and sells prescription medicines, vaccines and animal health products, led by the cancer drug Keytruda.

Novartis researches, makes and sells prescription medicines in cardiovascular, immunology, neuroscience and cancer, led by Entresto, Cosentyx and Kisqali.

Novo Nordisk is a Danish healthcare company that makes and sells medicines for obesity, diabetes and rare diseases, led by its semaglutide drugs Ozempic and Wegovy and by insulin.

Pfizer discovers, makes and sells prescription medicines and vaccines, such as Eliquis, Prevnar and Vyndaqel, mostly through U.S. wholesalers, while buying companies to replace products that lose patent protection.

Royal Philips makes health technology: imaging and image-guided therapy systems, patient monitoring and informatics, sleep and respiratory care, and personal health products such as electric toothbrushes and shavers.

Primaprix is a Madrid-born chain of small outlet stores that buys big consumer brands' surplus stock, old packaging and promotional leftovers and sells these groceries, drugstore and beauty products at about 30% below market prices in 343 stores in Spain, France and Portugal.

Reckitt makes health and hygiene brands such as Lysol, Dettol, Durex and Gaviscon, focused on 11 Powerbrands sold in 80 countries.

Roche makes prescription medicines, mainly for cancer, nerve and eye disease, and the lab tests that diagnose patients.

Sanofi discovers, makes and sells prescription medicines and vaccines, led by the immunology drug Dupixent.

Shiseido makes and sells skin care, makeup and fragrance under brands such as SHISEIDO, Clé de Peau Beauté, NARS and ELIXIR, through department stores, drugstores, travel retail and e-commerce.

Siemens is a technology group that sells factory automation and industrial software, electrical equipment for grids and buildings, rail systems, and medical technology.

UPS delivers packages and freight by air and ground to more than 200 countries and territories, and also runs forwarding, warehousing and healthcare logistics for businesses.