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3 Must-Own High-Yield Pharmaceutical Stocks to Add to Your Portfolio By StockNews

© Reuters. 3 Must-Own High-Yield Pharmaceutical Stocks to Add to Your Portfolio

The pharmaceutical industry has remained a highly coveted industry since the onset of the COVID-19 pandemic. With dividend-paying biopharma stocks increasing their payouts to remain competitive amid rising benchmark yields, we think companies such as AbbVie (ABBV), GlaxoSmithKline (NYSE:), and Gilead (GILD) should be value additions to one’s portfolio. Let’s pore over these names.Rising Treasury yields in the United States have put pressure on dividend paying stocks to increase their dividend payments or maintain payment frequency to retain the attention of fixed-income investors. Several biopharma companies with impressive dividend payout histories are currently maintaining their traction with income investors. In addition, biopharma companies are leveraging investors’ heightened interest in the industry by ramping up their drug pipelines. Last year, a record number of biopharma companies administered IPOs, while several undertook dividend recapitalizations to maintain their dividend payouts amid the pandemic.

Revenues in the biopharmaceutical sector are expected to grow at a CAGR of 7.3% over the next five years to $496.71 billion by 2026.

Thus, we think pharmaceutical companies AbbVie Inc . (NYSE:), GlaxoSmithKline PLC (GSK), and Gilead Sciences, Inc. (NASDAQ:), which have stable dividend payout histories, are ideal investment bets now.

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