Because COVID-19 cases have been spiking lately, investors are regaining interest in healthcare stocks. In addition, since governments worldwide are pouring billions of dollars into improving the healthcare industry, we think it could be wise to bet on healthcare stocks West Pharmaceutical (WST) and Alkermes (NASDAQ:ALKS). Both names have immense growth potential. So, let’s discuss them.The healthcare industry has historically attracted robust investor interest. According to a Modern Healthcare report, national health expenditures have increased tremendously over the past several years. With the resurgence of COVID-19 cases due to the rapid spread of its highly transmissible Delta variant, the industry is expected to continue enjoying the spotlight. Furthermore, the healthcare industry is considered relatively stable in terms of performance, given a near inelastic demand for healthcare products, which is part of what makes it an investor favorite.
Governments worldwide are spending billions of dollars to improve the healthcare industry, and companies in this space are quickly innovating to address the growing healthcare needs of an aging population.
So, we think it could be wise to bet on healthcare stocks West Pharmaceutical Services, Inc. (NYSE:WST) and Alkermes plc (ALKS), which possess solid growth attributes.