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Why All Eyes Are on Healthcare
The healthcare industry has been in the spotlight ever since the pandemic started making the news. Everyone’s eyes were on biotech stocks in the race for the vaccine. But market experts apparently believe there is a lot more to come from the industry. Motley Fool analyst Prosper Junior Bakiny points to 3 heal stocks with massive growth opportunities for 2021. Not only are they tipped to provide growth this year, but also in the long term.
A Pharmaceutical Giant
Let’s look at Bristol Myers Squibb ($BMY). The company is a pharmaceutical giant, with many great medicines in its product line-up. Bakiny points out that there are also many promising drugs in the pipeline.
Pharma giant Bristol Myers has a strong line-up of medicines including 8 top selling drugs, a rich pipeline and a sizable dividend, all of which can help drive revenue and earnings higher while rewarding investors with dividend increases. Among its top drugs is the multiple myeloma drug called Revlimid.
Blockbuster Drugs in the Arsenal
Third quarter sales of Revlimid in 2020 rose to $3 billion, a year over year rise of 10%. This drug came into the hands of Bristol Myers as a result of its acquisition of Celgene in 2019 for $74 billion. As a result, the company got other great drugs in its arsenal as well, including Pomalyst that also treats multiple myeloma. Pomalyst sales in the third quarter rose to $777 billion, a 17% year over year rise. Another drug marketed by Bristol Myers is Eliquis, the anticoagulant. This drug brought the company revenue worth $2.1 billion in the third quarter, a rise of 9%.
Promising Drugs in the Pipeline
Looking at the pipeline, Bristol Myers recently acquired MyoKardia in a $13.1 billion all-cash deal. MyoKardia has Mavacamten in its pipeline. Mavacamtem is a chronic heart disease drug, for treating hypertrophic cardiomyopathy. Bakiny quotes the company’s management that believes the drug has “multibillion-dollar potential” for the long term. Bakiny also points out that Bristol Myers has over 48 clinical compounds that are in development. Many of these are also in phase 3 studies.
(Img source: https://www.fool.com/investing/2021/01/24/3-top-healthcare-stocks-that-can-make-you-richer-i/)
As the above chart YCharts and Motley Fool shows, other healthcare stocks too have seen recent growth. The most impressive has been Veeva Systems ($VEEV).
Identifying such long-term growth opportunities is important for investors. Meanwhile, you can turn to commission free tradingfor maximizing opportunities.
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