4 Best Pharmaceutical Stocks to Buy in 2024 | The Motley Fool
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Hey folks! Are you looking for some great pharmaceutical stocks to invest in? Look no further! The global pharmaceutical industry boasts an impressive $1.2 trillion in sales each year, and COVID-19 has only increased the attention on companies developing coronavirus vaccines and drugs. Here are four top picks for investors to consider:
1. AbbVie: With its top-selling drug Humira, blood cancer drug Venclexta, and pipeline of promising new candidates, AbbVie is a solid choice. Plus, it belongs to the elite group of stocks called Dividend Aristocrats that have increased their dividends for at least 25 consecutive years.
2. Bristol Myers Squibb: Bristol Myers Squibb makes the blood thinner Eliquis and cancer drug Opdivo. It recently acquired Celgene, bringing three more cancer drugs and the multiple sclerosis and ulcerative colitis drug Zeposia under its control.
3. Johnson & Johnson: The healthcare giant derives the majority of its growth from its pharmaceutical business and boasts a large product lineup that includes immunology drugs Stelara and Tremfya and cancer drugs Darzalex and Erleada.
4. Pfizer: Known for its COVID-19 vaccine Comirnaty, Pfizer also markets cancer drugs Ibrance and Xtandi and Prevnar pneumococcal vaccines. Plus, its COVID-19 pill Paxlovid is projected to bring in at least $22 billion in 2022.
When choosing pharmaceutical stocks, look for companies with consistent revenue and earnings growth, a robust drug pipeline, and a history of success in developing both new therapies and new uses for existing drugs. Keep in mind the risks involved, such as potential clinical failure or failure to win regulatory approval. But with an aging population and the continued need for prescription medications, pharmaceutical stocks can be a great long-term investment choice!
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