Insmed (INSM) Research & Development (2010 - 2026)
Insmed (INSM) reported Research & Development of $269.96 million for Q3 2026, up 44.8% from $186.42 million a year earlier and up 28.5% from the prior quarter.
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Analysis
Insmed (INSM) Research & Development (2010 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Insmed's Research & Development came in at $944.39 million, up 35.7% year-over-year; for FY2025, it was $771.09 million, up 28.9% from FY2024.
- Research & Development has increased for six consecutive years, with a five-year compound annual growth rate of 33.6% (FY2020 to FY2025).
- By year, Research & Development came in at $598.37 million in FY2024 (+4.8%), $571.01 million in FY2023 (+43.6%), $397.52 million in FY2022 (+45.7%) and $272.74 million in FY2021 (+50.6%).
- The Q3 2026 figure ranks as the highest quarterly Research & Development in data going back to Q2 2010.
- Year over year, Research & Development has now increased in each of the last nine quarters, with growth averaging 30.5% over the last eight quarters.
- The high point for year-over-year Research & Development in five years was Q2 2023 (growth of 122.5%); the low point was Q2 2024 (a decline of 25.5%).
- Per Business Quant data, the three quarters before Q3 2026 came in at $210.03 million (Q2 2026), $209.49 million (Q1 2026) and $254.91 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,264.65 Bn | 1,238.27 Bn | 20.46 Bn | 4.25 Bn |
| 2 | Johnson & Johnson | 677.74 Bn | 597.60 Bn | 17.30 Bn | 4.65 Bn |
| 3 | AbbVie | 517.10 Bn | 485.11 Bn | 13.12 Bn | 2.57 Bn |
| 4 | Merck | 362.23 Bn | 325.17 Bn | 13.19 Bn | 4.54 Bn |
| 5 | Novartis Ag | 315.90 Bn | 276.16 Bn | 11.24 Bn | 2.85 Bn |
| 6 | Astrazeneca | 289.40 Bn | 266.24 Bn | 12.86 Bn | 4.05 Bn |
| 7 | Amgen | 249.90 Bn | 201.56 Bn | 7.58 Bn | 2.11 Bn |
| 8 | Gilead Sciences | 209.15 Bn | 184.26 Bn | 6.73 Bn | 1.61 Bn |
| 9 | Pfizer | 165.88 Bn | 113.23 Bn | 12.56 Bn | 3.02 Bn |
| 10 | Insmed | 25.82 Bn | 20.86 Bn | 446.21 Mn | 269.96 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 269.96 Mn |
| Jun 30, 2026 | 210.03 Mn |
| Mar 31, 2026 | 209.49 Mn |
| Dec 31, 2025 | 254.91 Mn |
| Sep 30, 2025 | 186.42 Mn |
| Jun 30, 2025 | 177.19 Mn |
| Mar 31, 2025 | 152.58 Mn |
| Dec 31, 2024 | 179.73 Mn |
| Sep 30, 2024 | 150.81 Mn |
| Jun 30, 2024 | 146.75 Mn |
| Mar 31, 2024 | 121.08 Mn |
| Dec 31, 2023 | 137.03 Mn |
| Sep 30, 2023 | 109.15 Mn |
| Jun 30, 2023 | 196.97 Mn |
| Mar 31, 2023 | 127.87 Mn |
| Dec 31, 2022 | 124.76 Mn |
| Sep 30, 2022 | 99.87 Mn |
| Jun 30, 2022 | 88.53 Mn |
| Mar 31, 2022 | 84.36 Mn |
| Dec 31, 2021 | 76.35 Mn |
API Access
Insmed Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=INSM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "INSM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=INSM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();