Three U.S. pharmaceutical stocks to buy show profit potential as the healthcare and wellness market continues to grow.
Amid an aging population and new obesity treatments, cell and gene therapies, cardiovascular treatments and more, the pharmaceutical industry continues to make money for investors.
The demographics of the U.S. population are shifting toward an older, older population. According to the Population Reference OfficeThe U.S. population is older today than ever before. The number of Americans age 65 and older is projected to increase from 58 million in 2022 to 82 million in 2050. The share of people age 65 and older in the population in 2050 is projected to increase from 17% to 23%.
With this, investors can expect to see the pharmaceutical and healthcare industry continue to innovate, as an aging population typically brings with it many health issues.
According ForbesPersonalized medicine is one of the divisions that has seen an increase in its production. Personalized medicine, as its name suggests, is based on the individual genetic makeup of a patient. In 2005, this type of medicine accounted for only 5% of new drugs approved by the US Food and Drug Administration. In 2022, it accounted for 34%.
By investing in healthcare and medical research, investors can see the real impact of what their money is doing, while still making a profit.
According to a report by ZS.com, A management and technology consulting firm, even with several challenges that the market may face, 2024 could be the beginning of a renaissance that brings about a healthier world.
Three US pharmaceutical stocks worth buying: Eli Lilly (LLY)
Eli Lilly is a pharmaceutical company based in Indianapolis, Indiana, that focuses on neuroscience, cardiometabolics, cancer, and immunology. Today, it is one of the largest pharmaceutical companies in the world with a pipeline of blockbuster new medicines.
Eli Lilly has been working to create drugs and treatments for several types of diseases that are not only common, but deadly in the United States, including diabetes and now Alzheimer’s.
Its key products include Verzenio for cancer, Mounjaro, Zapbound, Jariance and other diabetes drugs, and Taltz and Olumiant for immunology. The company also just signed an agreement to pay $3.2 billion to acquire Morphic Holding, which expands its portfolio of products for inflammatory bowel disease, according to Pharmaceutical technology.
According Yahoo FinanceThe company’s shares have gained 1% over the past week and 7.6% over the past four weeks. On the earnings front, analysts have revised up their 60-day earnings estimate for the company, with the Zacks Consensus Estimate rising 24 cents to $13.61 per share. Eli Lilly has a total return of 57.8% year-to-date.
Among the 21 analysts covering Eli Lilly, StockRover.com indicated that the consensus gives this company a Strong Buy rating.
Chart courtesy of en:stockcharts.com.
Among the 21 analysts covering Eli Lilly, StockRover.com indicated that the consensus gives this company a Strong Buy rating.
Three US pharmaceutical stocks worth buying: Merck & Co., Inc. (NYSE: MRK)
Merck & Co., Inc. (MRK) is a pharmaceutical company headquartered in Rahway, New Jersey. It manufactures pharmaceutical products for a variety of diseases across many therapeutic areas, including cardiometabolic diseases, infections, and cancer.
Merck & Co., Inc. is a player in the vaccine industry, as the company has treatments to prevent pediatric diseases and human papillomavirus (HPV).
In addition to the company’s significant vaccine business, its immuno-oncology platform is growing to become a significant contributor to overall sales.
Despite being headquartered in New Jersey, the company has a large global presence. Geographically, nearly half of the company’s sales are generated in the United States.
Chart courtesy of en:stockcharts.com.
According to a distribution of 23 analysts on stockrover.com, the consensus gives Merck a STRONG BUY rating.
Three US pharmaceutical stocks worth buying: AbbVie (NYSE:ABBV)
AbbVie (NYSE: ABBV) is a pharmaceutical company based in North Chicago, Illinois, with strong exposure to both immunology and oncology. The company was spun off from Abbott Laboratories, a healthcare technology company, in 2013. In 2020, AbbVie acquired Allergan, which added several new aesthetic products, such as Botox, and related products to its already dense portfolio.
The company offers many other treatments and drugs, including Skyrizi and Rinvoq. Skyrizi has been profitable for the company, as the injection for psoriasis and inflammatory bowel disease helped first-quarter sales rise 48% year over year to $8 billion annualized.
According Press release According to the company, AbbVie will announce its second quarter 2024 financial results on Thursday, July 25, 2024, before the market opens that day.
ABBV has a total return accumulated in the year of 9.4% and an annual return of 26.2%.
From a pool of 22 analysts, stockrover.com rates AbbVie a BUY.
Chart courtesy of en:stockcharts.com.
The pharmaceutical industry is constantly evolving
The pharmaceutical industry remains a key sector for investors. In an investment column by Paul Dykewicz, he analyses many other investment opportunities within the sector.
Pharmaceutical companies and the industry have struggled to adapt to structural changes. According to an article in ForbesProblems have arisen due to increased consolidation in health care delivery and a shift in power dynamics within the health care sphere.
Bob Carlson, who runs the Retirement monitoring Investment Bulletin also shared his thoughts on the industry with Dykewicz.
“I still believe that biotech and pharmaceuticals will do well, even though they haven’t done so well lately,” Carlson told him. “Companies continue to develop new and innovative products.”
Bob Carlson, director of Retirement monitoringgives an interview to Paul Dykewicz.
While the healthcare market has underperformed year-to-date, these three pharmaceutical stocks to buy show promise with their constant innovation.
JOBs Apply News
For the Latest JOBs Apply News, Follow ©JOBs Apply News on Twitter and Linkedin Page.
