BMY - Big Pharma is pushing back the pandemic but its stocks are cheap - Barron's

Drugmakers are set to save the world from COVID-19 but their shares have lagged the broader market in the past year, making the group look like one of the best pockets of value in a richly priced stock market, Barron's reports.Drug stocks have not been so inexpensive relative to the S&P 500 in at least 20 years, according to J.P. Morgan's Chris Schott, who says the major companies could average mid-single digit annual revenue growth and low-double digit earnings growth through 2025.Most drugmakers are facing patent expirations on their top-selling drugs this decade, but Schott thinks the problem is manageable, given a promising industry drug pipeline focused on oncology, immunology, diabetes and Alzheimer's disease.Barron's believes a case can be made for all of the big drugmakers, from Eli Lilly (LLY), which has the best projected earnings growth among its peers, to deep-value AbbVie (ABBV) and Bristol Myers (BMY), which trade

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Big Pharma is pushing back the pandemic, but its stocks are cheap - Barron's