COVID-19 continues to have a significant impact on the pharmaceutical industry. Vaccines are expected to increase the net cumulative pharmaceutical market to $500 billion by 2027. As per the report from IQVIA Institute, total spending and global demand for medicines could reach approximately $1.90 trillion over the next five years.
The pharmaceutical industry has continually adopted new strategies and developed advanced technologies through research and development to meet its ever-growing demand. It is estimated to surpass $1 trillion by 2023 due to numerous compounds in the latter stages of clinical trials and many more waiting for approvals.
Moreover, healthcare companies’ products and services have inelastic demand, making them ideal holdings during economic volatility. Therefore, investing long-term in fundamentally strong pharma stocks AstraZeneca PLC (AZN), Bristol-Myers Squibb Company (BMY), and…
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