During the COVID-19 epidemic, the global oncology pharmaceutical industry had a boost. In 2020, the top cancer pharmaceutical firms generated $61.2 billion in revenue. Global spending on cancer medications is expected to reach $164 billion in 2020, up 14.3% over the previous five years. According to PwC, global cancer care spending is expected to surpass $200 billion by 2022. Startups funded by big pharma are also entering the burgeoning market for sophisticated cancer medicines. Over the last year, the iShares Biotechnology ETF has returned 16.4 percent to investors.
Insider Monkey takes a look at the 10 best cancer stocks to buy now. In the second quarter, the company’s overall sales was $5.14 billion, up 163 percent year over year. In Q2 2021, 48 hedge funds tracked by Insider Monkey own Regeneron Pharmaceuticals, Inc. Illumina is a company that makes next-generation sequencing (NGS) technologies for cancer genomics research. The California-based firm serves clients worldwide and is ninth on our list of the top 10 cancer stocks to purchase right now. The company’s revenue increased 5% year over year to $6.5 billion in the second quarter. Amgen Inc. is a solid choice for income investors because it pays out a 3.36 percent dividend yield. In the last ten years, the pharmaceutical stock has returned 257 percent. Gilead Sciences, Inc. is ranked seventh. The pharmaceutical company’s revenue increased by 21% to $6.2 billion in the second quarter. Trodelvy, the company’s breast cancer medicine, was one of the biggest revenue drivers in the quarter. Eli Lilly and Company has a portfolio of 11 cancer medicines in development. As of July 30, the business had two cancer treatments awaiting approval from the FDA. In the third quarter, the company’s revenue totaled $6.8 billion, up 18% year over year. For more details, click 10 Best Cancer Stocks To Buy Now.
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