2024-04-10 07:15:00 ET
The healthcare business never sleeps and never goes out of style. That's one of the advantages of investing in stocks in this sector. But to be successful at it, it's important to pick innovative companies that benefit from an economic moat, are leaders in their respective niches, or have some other kind of advantage that can allow them to remain successful and relevant for a long time.
Many candidates fit this description, but let's consider just two today: Novo Nordisk (NYSE: NVO) and Veeva Systems (NYSE: VEEV) .
Novo Nordisk has been one of the best-performing pharmaceutical giants in recent years. The company is riding the success of medicines such as Ozempic, which treats diabetes, and anti-obesity therapy Wegovy. These brand names have become incredibly famous and have helped Novo Nordisk deliver excellent financial results. In 2023, Ozempic's total sales increased by 60% year over year to 95.7 billion Danish kroner ($13.8 billion).
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