The pharmaceutical sector is expected to increase at a CAGR of 1.8 percent, from $1228.45 billion in 2020 to $1250.24 billion in 2021. The big pharmaceutical corporations banded together to develop vaccinations as the COVID-19 pandemic decimated the planet. Telehealth visits for primary care climbed to 35 million in April 2020, reaching an all-time high of 18 percent. Essential doctor appointments were also prohibited in 2020 as a result of the nationwide lockdowns, resulting in a 21% drop in patient visits.
Here is Insider Monkey’s list of the top pharmaceutical stocks to buy based on billionaire Ken Griffin’s portfolio. Ultragenyx Pharmaceutical Inc. is a biopharmaceutical business situated in California that conducts intensive research and development for medical goods and treatments for highly rare genetic illnesses. The company’s third-quarter revenue came in at $81.65 million, exceeding expectations by $103,090. McKesson Corporation is a pharmaceutical corporation established in Texas that specializes in health information technology, medical supplies, and care management technologies. According to billionaire Ken Griffin’s portfolio, telemedicine company Teladoc Health, Inc. is one of the best pharmaceutical companies to buy. The $521.66 million in revenue was up 80.26 percent year over year, exceeding expectations by $4.87 million. HCA Healthcare, Inc. is a for-profit healthcare firm founded in 1968 that has been providing medical services to patients. Griffin owns 716,903 shares of HCA Healthcare, worth $174 million, through Citadel Investment Group. According to Ken Griffin’s Q3 portfolio, Laboratory Corporation of America Holdings is one of the finest pharmaceutical companies to buy. The billionaire upped his holdings in the company by 21% to 628,479 shares valued at $176.88 million. For more details, click the Top 10 Pharmaceutical Stocks To Buy Based On Billionaire Ken Griffin’s Portfolio.