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Business
Malaika Alphonsus

4 Best Pharma Stocks to Buy for the Long Haul

AZN NVS JNJ BMY Pharmaceutical Sandoz US Federal Reserve Recession AstraZeneca Plc BristolMyers Squibb Company

Despite the banking crisis, the Fed raised interest rates by a quarter of a percentage point, bringing the benchmark funds rate to a range of 4.75% to 5%, the highest since October 2007.  Concerns over the federal funds rate climbing higher than previously predicted and tighter lending by banks following the worst banking crisis since 2008 are expected to push the economy into a recession.

In this scenario, investors could consider buying fundamentally strong pharma stocks Johnson & Johnson (JNJ), AstraZeneca PLC (AZN), Novartis AG (NVS), and Bristol-Myers Squibb Company (BMY) as long-term investments.

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