10 Best Pharma Stocks to Buy for Long Term Growth

6. AstraZeneca PLC (NASDAQ:AZN)

Number of Hedge Fund Holders: 55 

AstraZeneca PLC (NASDAQ:AZN) stands sixth on our list of the best pharmaceutical stocks. It was incorporated in 1992 and is based in Cambridge, UK. The company is focused on discovering, developing, and delivering prescription medicines for cancer, heart and kidney diseases, respiratory conditions, and rare diseases.

AstraZeneca PLC (NASDAQ:AZN) revealed intentions on March 21 to create a research and development facility in Beijing, China, with an incremental investment of $2.5 billion spread over five years. This will strengthen collaborations in China’s life sciences industry and serve as the company’s second research and development site there. The company will establish its first vaccine manufacturing facility in China, collaborate with regional biotechs and medical facilities, and construct a new lab dedicated to artificial intelligence.

The net cash from the operating activities of AstraZeneca PLC (NASDAQ:AZN) increased by $1.5 billion in 2024. Along with paying off over $7 billion in debt, it also grew its business through significant acquisitions like Amolyt, Icosavax, and Fusion. In 2024, the dividend was raised to $3.10 per share, and this year, they are expected to rise to $3.20. It is among the top stocks in the UK.

In Q4 2024, AstraZeneca PLC (NASDAQ:AZN) was included in 14 billionaire portfolios with a total of $2.20 billion in combined positions, while 55 hedge funds were positive on the company overall. In Q4, billionaire Ken Griffin increased his holdings of AZN by an astounding 842%, accumulating 4.2 million shares for $276.6 million.