Large Cap Biopharmaceuticals: Still a Core Position for Your Portfolio

Mar 2, 2026 | 2025 Rayno Biopharmaceuticals Portfolio

Large Cap Biopharmaceuticals: A Core Position for Your Portfolio Offers Value plus Innovation

  • Leaders % 2026 YTD are: AZN, AMGN, GILD, MRK, BMY. Also Novartis (NVS) Roche ADR (RHHBY).
  • Leaders over one year %: MRK,GILD, AZN,AMGN, ,LLY, REGN.
  • Laggards in buying range: : PFE, VRTX,  ABBV…

Some Key Points:

  1. Large Cap Biopharma continues to outperform S&P 500 over one year-17% vs 20% worse case.
  2. Biotech ETFS outperform: up 21-29%; but Fidelity Biotech Fund (FBIOX) still leads up 33%.
  3. Assumes industry conflicts with the Administration on pricing has abated.
  4. Several lagging stocks have made nice gains: BMY MRK REGN.
  5. Pfizer still has good value with a yield of 6+%.
  6. Momentum is a good trading tool and remains robust.
  7. Oncology is strong on innovation with next generation diagnostics (MRD)
  8. Healthcare (XLV) performance led by these stocks whereas MedTech is a laggard.
  9. International stocks have done well: AZN, NVS ,RHHBY.
  10. M&A potential in 2026 brings stronger pipelines.

LONG: ABBV, BMY, LLY, GILD, REGN, VRTX.;FBIOX and PPH

Analyst p PRICE PRICE 52 wk
Top Biopharmas TICKER PICK TECH Fwd/PE Summ 2022 11/23 7/12/25 1/4/26 2/27/28 1 yr % YTD div % RSI high
Abbvie ABBV B F 14.34 1.85 161.64 138.59 192.45 229.31 232.08 13.2 3.29 2.9 58.4 244.8
Amgen AMGN H/B U 16.64 2.24 275 303 292.27 327.64 388 26.86 18.53 2.49 67.16 253 nh
Astra Zeneca AZN H/B U 18 1.65 68 63.17 71.13 91.57 208.5 38 12.66 1.53 63.43 212.7 nh
Bristol Myers Sq BMY B U 10.2 2.44 71.05 50.61 59 55.05 62.37 6.07 15.63 4.04 54 66.97
Eli Lilly LLY B F 25.23 1.62 447.71 597.71 793.01 1080.4 1052 16.22 -2.11 0.59 52.39 1199
Gilead Science GILD H/B U 15.46 1.75 85.39 75.92 109.64 123.4 148.95 33 21.35 2.2 56.66 157 nh
Merck MRK H/B U 12.77 1.97 110.95 103 106.45 91.45 123.82 36.7 17.63 2.75 64.99 125.1 n/h
Pfizer PFE B U 9.66 2.66 51.24 29.48 25.18 25.87 27.65 5.94 11.04 6.22 60 27.94
Regeneron REGN F U 14.84 1.69 725 798 567.74 776.3 781.67 11.23 1.27 0.48 44.56 793
Vertex VRTX H/B U 22.45 1.72 289 373.65 468.85 452.13 496.83 4.71 9.59 0 61.9 519
Van Eck ETF PPH B U 103.72 111.7 20.87 8.27 1.72 62.76 112.58 LLY,NVS,MRK, NVO
iShares IBB B F 169 175.37 29.44 3.91 0.22 54.38 174.4
VRTX,GILD, AMGN REGN

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