Skip to Content
Stock Strategist Industry Reports

Innovation Supports Growth at Big Pharma/Big Biotech Companies

Moats and returns on invested capital look stable for companies with a solid list of pipeline drugs.

Mentioned: , , , , , , , , ,

Most Big Pharma and Big Biotech companies in our coverage support wide moats as a result of their ability to generate new drugs to replace mature ones losing patent protection.

We project 4.7% annual average sales growth through 2024 (similar to consensus) for the 18 moatiest pharma and biotech names we cover, as innovation more than counters generic/biosimilar and branded competitive threats. Overlaying our growth analysis with valuation, we see underappreciated areas. 

To view this article, become a Morningstar Basic member.

Register for Free

Damien Conover does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.