In this article, I have evaluated leading medical stocks AbbVie Inc. (ABBV – Get Rating) and Pfizer Inc. (PFE – Get Rating) to analyze which stock is the better buy. After thoroughly evaluating these stocks, I think ABBV might be the right pick for the reasons discussed in this article.
The pharmaceutical landscape has undergone a massive transformation with the emergence of new technologies and cost-effective and more efficient manufacturing approaches. In addition, increasing investment flow in this space is expected to impact the market growth positively.
Furthermore, the paradigm shift towards integrated, smart, and data-rich paperless operations has resulted in error-free and precise production. Such ongoing developments have propelled drug manufacturing. The global pharmaceutical manufacturing market is expected to grow at a CAGR of 11.3% until 2028.
Additionally, the introduction of generic medicines has helped sustain the country’s healthcare system with improved patient access and generated savings for taxpayers, employers, and insurance providers.
The US generic drug market is expected to reach $110.70 billion by 2028, exhibiting a CAGR of 4.1%.
ABBV is a clear winner in terms of price performance, with 5.3% returns over the past month compared to PFE’s decline of 2.1%. ABBV declined 3.1% over the past six months compared to PFE’s 16.1% decline.
Here are the reasons why I think ABBV could perform better in the near term:
Recent Developments
On July 21, ABBV announced the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) had adopted a positive opinion recommending the granting of conditional marketing authorization for…
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