3 Booming Pharma Stocks Making Waves in the Industry

Due to rising medical requirements and technical improvements, the pharmaceutical industry’s long-term growth prospects remain promising. Also, the growing global population and rising number of chronic diseases are adding to the industry’s positive outlook. So, I think pharma stocks Roche Holding AG (RHHBY – Get Rating), AstraZeneca PLC (AZN – Get Rating) and Bristol-Myers Squibb Company (BMY – Get Rating) could be worth adding to your portfolio for solid returns.

Before delving deeper into their fundamentals, let’s discuss what’s happening in the pharma industry.

The United States is projected to spend $605-$635 billion on medication in 2025. In 2023, the US pharma market accounts for 43.7% of the global pharma industry. This significant expenditure on medication indicates the huge demand for pharma products in the United States.

According to Statista, worldwide pharmaceutical revenues are expected to grow at a CAGR of 5.8% to reach $1.48 trillion by 2028. Oncology Drugs is the industry’s largest segment, with a forecast market volume of $188.20 billion in 2023.

Moreover, the global AI in drug discovery market is expected to reach $4.9 billion by 2028, expanding at a 40.2% CAGR. The use of Artificial Intelligence (AI) in drug discovery is set to dramatically strengthen the industry landscape.

Considering these conducive trends, let’s take a look at the fundamentals of the three above-mentioned Medical – Pharmaceuticals stocks, starting with the third stock.

Stock #3: Roche Holding AG (RHHBY – Get Rating)

Headquartered in Basel, Switzerland, RHHBY engages in the prescription pharmaceuticals and diagnostics businesses in Switzerland, Germany, and internationally. The company offers pharmaceutical products and in vitro diagnostics solutions for indications.

On October 26, 2023, RHHBY announced a collaboration with Ibex Medical Analytics and Amazon Web Services, allowing pathology laboratories to use Ibex’s AI-powered decision support tools to help doctors diagnose breast and prostate cancer using…

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