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The top players in pharma know how to adapt. After M&A, selloffs, cost cuts and therapeutic rejigs, the companies on this list may largely wear the same names, but none entered it looking exactly as they did for last year’s edition. Whether because of buyouts or reorgs or both, companies atop the rankings this year generally have a strong presence in cancer, but immunology and rare diseases are also strongholds. Takeda gained its place on the list thanks to a Shire buyout that added rare diseases to its broader lineup. Vaccines are important, too: Companies with leading vaccine outfits all made the top 10. Cell and...