Investing in the right biotech stocks can lead to huge profits over time. With just a few successful drugs, these companies can flourish and become market leaders. A classic example is biotech company Moderna (MRNA), whose market cap exploded from $6.5 billion in 2019 to $103 billion in 2021 after it launched the COVID-19 vaccine in 2020.
Biotech firms that use cutting-edge techniques to combat hard-to-treat diseases will always be in demand, regardless of the state of the economy. In this article, we will discuss the drugmaker Eli Lilly and Company (LLY), whose wide array of products treats life-threatening conditions such as cancer, autoimmune diseases, obesity, diabetes, Alzheimer's, and skin diseases.
