2 Market-Beating Stocks to Buy in 2023 and Hold Forever
Companies that have managed to beat the market and stay in the green during this challenging year are rare, but they exist. But investors shouldn't rush to buy shares of such companies for that reason alone. Outperforming during a bear market is great. What's more important is to deliver market-beating returns over the long haul. And thankfully, some of those recent outperformers seem capable of doing just that. Let's consider two examples: Novo Nordisk (NYSE: NVO) and Amgen (NASDAQ: AMGN).
Novo Nordisk is a pharmaceutical giant headquartered in Denmark and specializing in diabetes care. It has been a leader in this area for several decades, partly explaining its performance year to date. Diabetes patients won't stop taking the medicines they need to keep this chronic illness in check, nor will physicians stop prescribing those therapies.
Novo Nordisk held a 31.6% share of the diabetes care market as of August, an increase of 1.7% year over year. Novo Nordisk should carry its momentum into next year. Some of its products are still performing well, especially diabetes medicines Rybelsus and Ozempic. In the first nine months of the year, sales of Rybelsus soared by 140% year over year to 7.2 billion Danish kroner (about $1 billion USD).
Source Fool.com
