Given enough time, stock in pharmaceutical giants has yielded life-altering gains 

Many investors will look back upon 2022 as a disaster. 

It was the worst market for bonds in over a century, and even the largest and best-known tech stocks lost about one-third of their value—with a few losing virtually all their market cap. Value plunged for cryptocurrencies, stocks in social media companies and yield-sensitive exchange-traded funds.

Yet “big pharma” remained a relatively safe haven and continued to produce life-changing profits for long-term holders. Plus, there’s no indication the bonanza will end anytime soon.

The United States healthcare system is famously expensive, and much of the revenue flows into the coffers of...

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