Shares of AbbVie, Eli Lilly and Gilead Sciences are trading at or near record highs. MarketWatch describes the move as a sign that investors are seeking steady gains from large, diversified drugmakers.
AbbVie and Eli Lilly are trading at or near all-time highs, with Gilead Sciences also at or near a record. MarketWatch calls it the latest signal that investors want the steady gains large drugmakers offer.
AbbVie's stock is on track to close at another record high on Thursday, according to the report.
The report says these companies are investing in the pipelines of the future and extending the patent lives of their top-selling drugs. Against the turbulence in tech stocks in recent months, that kind of known performance appeals to investors, MarketWatch says.
Source: MarketWatch (snippet-based)
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