Most of us don't choose when to be sick, what illness will befall us, or what medicine we will take to recover. Thankfully, the pharmaceutical industry -- which is responsible for developing life-saving drugs -- never sleeps. While this sector has not escaped the COVID-19-induced economic crisis unscathed, one thing is for certain: The need for innovative therapies won't subside anytime soon. This alone makes it worthwhile for long-term investors to consider pharma stocks.
Two that I think are worth buying right now are Bristol Myers Squibb (NYSE: BMY) and Alexion Pharmaceuticals (NASDAQ: ALXN) . Both drugmakers are trading at attractive valuations: Bristol Myers' forward price-to-earnings (P/E) ratio is 8, while its price-to-earnings growth (PEG) is 0.81. Alexion's P/E and PEG are 10 and 0.79, respectively. The average forward P/E ratio for the S&P 500 is currently about 24, while a PEG ratio below 1 is generally considered good.
Attractive valuation metrics are neat, but to make a case that these stocks are worth buying, let's take a closer look at their respective businesses.
For further details see:
2 Top Pharma Stocks to Buy Right Now