5 Best Biotech Stocks To Buy For 2021

3. AbbVie Inc. (NYSE: ABBV)

AbbVie (NASDAQ: ABBV) is a Chicago-based pharma giant that has a market cap of close to $200 billion. It has an annual revenue that is close to $45 billion. It was founded in 2013 as a spinoff of Abbott Laboratories (NASDAQ: ABT) and has since increased 184% in value. The company is posting these highs on the back of two new drugs in oncology and immunology. The firm is also well-known for producing Humira, an immunosuppressant that is used to treat arthritis. ABBV ranks 3rd in our list of 10 best biotech stocks to buy now.

The shares of AbbVie are only one of the few dividend growth stocks that have managed double-digit payout increases this year. This growth has all but ensured another year of membership in an exclusive club that lists stocks that have raised their payouts annually for at least 25 consecutive years. It also makes the firm a valuable biotech stock in 2021.