2 Biotech Stocks That Could Make You Richer
Growing one's wealth in the stock market is simple, at least in theory. All that's needed are time, the right investments, and the patience to hold shares of companies even during downturns. But in practice, it isn't always easy to pull that off. The tendency to panic-sell during a bear market is strong, and with hundreds of options, it can sometimes be challenging to separate the quality stocks from the rest of the pack.
Let's address the second problem: finding quality stocks that can help make an investor richer over a sufficiently long period -- say, five years or more. Following are two companies in the biotech industry that seem to have what it takes.
Based in Switzerland, Novartis (NYSE: NVS) is a biotech with a long list of products. Some of the company's biggest growth drivers include heart-failure medicine Entresto, cancer drug Kisqali, and multiple sclerosis treatment Kesimpta. In 2022, sales of Entresto soared by 31% year over year to $4.7 billion. Kisqali and Kesimpta saw their revenues increase by 31% and 194% year over year to $1.2 billion and $1.1 billion, respectively.
Source Fool.com
