The pharma industry has been a long-term investment opportunity for investors over the years.

The global pharmaceutical industry is a massive market that continues to grow each year. It is estimated to be more than $1.2 trillion in sales annually. The COVID-19 pandemic has been a massive catalyst in pushing pharma firms to their limit. The majority of the companies have tried their luck in developing the coronavirus vaccine—with several being successful and others under clinical trials.

For investors, the pharmacy stocks have the potential to reap solid long-term results—with a broader market. Especially, with the demand for vaccines high all over the world, the pharma stocks could be making big profits in the future. So, let’s have a look at the three best pharma stocks for long-term investment.

Pfizer (PFE)

Pfizer (PFE) has been the highlight of last year. The US-based pharma firm was the first—in collaboration with BioNTech—to develop the COVID-19 vaccine. Despite the vaccine news, the stock price hasn’t skyrocketed as it was expected. So, there is much upside considering the stock being backed by Pfizer’s vaccine and other top-line products.

Recently, the company reported its fourth-quarter results, with earnings on the lower side as per the expectations. The Q4 2020 adjusted earnings were $0.42 per share, topping by 14% Year-over-Year but missing analysts’ estimate of $0.51 per share. While, the sales increased by 12% to $11.68 billion, missing projected sales of $12.01 billion.

Mizuho Securities analyst Vamil Divan said that the company has multiple parts under movement, but the long-term seems strong with its core assets performing well. Pfizer has reportedly said that they are expecting $15 billion of vaccine sales this year. So far, the company has vaccine sales of around $154 million.

With much happening, Pfizer (PFE) stock is still in the buy range.

Bristol-Myers (BMY)

Bristol Myers Squibb (BMY) is one of the leading pharmaceutical firms in biologics in several therapeutic areas, including cancer. The company is set to release its fourth-quarter results on Feb. 4, 2021.

According to Forbes, the overall outcome is expected to be slightly on the lighter side as per the analysts’ estimate. The quarterly results are affected by a slow sales growth rate of Opdivo. However, the company should see an increase in overall demand due to a rise in hospital visits.

The company has announced that it has obtained positive outcomes from the second pivotal Phase 3 trial for its novel, oral, POETYK PSO-2. Bristol is working on selective tyrosine kinase 2 (TYK2) inhibitor for the treatment of plaque psoriasis—patients with moderate to severe disease. Almost 100 million people are suffering from psoriasis around the world. If the company goes on to successfully market its product, it would bring massive revenue in the longer run.

Furthermore, Bristol Myers Squibb (BMY) has collaborated with The Rockefeller University for the rights to a Covid-19 therapy that combines two antibodies. The company stated that the vaccine variant of Rockefeller has delivered effective results against SARS-CoV-2. So, this deal could be another big plus for Bristol as we head forward.

Anavex (AVXL)

Anavex Life Sciences (AVXL) is a promising biopharma firm that has gained a lot of attention for its lead candidate of Alzheimer’s disease, Anavex 2-73 (A2-73). Recently, the company updated that it has completed 80enrollment for the Phase 2b/3 trials. While the remaining enrollment of 450 patients is anticipated in near-future.

Over the past 12-months, AVXL shares have soared over 163%. As of Feb. 4, in pre-market trading, the stock is up by nearly 87% trading around $19.67. The bullish sentiment is pushed by the lead drug of Anavex.

So far, the data shows that Anavex 2-73 is very effective against Alzheimer’s disease. According to World Health Organization, more than 50 million suffer from dementia—a type of Alzheimer—all over the world. And, around 10 million new cases arise each year.

Being bullish on Anavex, Seeking Alpha’scontributor Lane Simonian stated that Anavex 2-73 has the best chance of long-term success among the rest of the drugs being studied by the company. So, Anavex (AVXL) is a stock to watch for long-term investment.