
The pharmaceutical industry is set to grow in the coming years, thanks to an aging population, heightened toll of chronic diseases, and new technologies. In this article, we'll look at the fundamentals of three pharma stocks that can boost your portfolio: Taro Pharmaceutical Industries Ltd. (TARO), AstraZeneca PLC (AZN) and AbbVie Inc. (ABBV).
According to a report by the IQVIA Institute, the world will spend $1.9 trillion on drugs by 2027, growing at 3-6% per year. This growth will be driven by new drugs coming to market and people using more existing drugs.