REGN - 2 No-Brainer Biotech Stocks to Buy Right Now
2024-02-21 10:00:00 ET
Those looking to invest in stocks can sometimes seem spoiled for choices. There are all kinds of businesses in the equity markets that seem intriguing. However, upon closer inspection, many of these corporations don't actually prove worthy of investors' time or money.
On the other hand, some companies look almost too attractive to pass up, given their underlying businesses' strength and growth prospects. Let's look at two examples in the biotech industry: Novo Nordisk (NYSE: NVO) and Regeneron Pharmaceuticals (NASDAQ: REGN) .
Novo Nordisk is the company behind the now-famous drug Ozempic, whose active ingredient is semaglutide. In the weight-loss market, it's marketed as Wegovy. These two brand names helped catapult Novo Nordisk's sales higher last year. The company's revenue for 2023 came in at 232.3 billion Danish kroner ($33.6 billion), 31% higher than the previous fiscal year. Wegovy's sales skyrocketed by 407%, while Ozempic's jumped by a much less impressive, though still admirable, 60% year over year.
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2 No-Brainer Biotech Stocks to Buy Right Now