When investing in pharma companies, you want the best of the breed. The companies with the most safety, the biggest moats, and the ones that have been around and mastered most crises. At least if you're a conservative dividend investor, which if you read my articles, you have some interest in being or reading about.

Because of this, the number of pharma and healthcare investments I have is fairly limited - not necessarily in overall portfolio size, but in number and type of companies. I like the sort of companies that can survive almost anything, such as pharma companies, large healthcare megacaps, pharma companies with dozens of billions in revenues.

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