I almost didnt believe it when I saw the news.
This year has been such an insane rollercoaster, it felt too good to be true.
But we now have two potential COVID-19 vaccines in the works. Both companies Pfizer (NYSE: PFE) and Moderna (Nasdaq: MRNA) reported respective success rates above 90%.
The vaccines are in Phase 3 of testing, which means these numbers come from large samples of patients. This is great news.
And it tells me something vital about the future of this country
Yes, officials warn that we may not have a usable vaccine one distributed to health care workers and seniors first until the first few months of next year.
But if we take conservative estimates for its earliest availability say, April that will mean this vaccine was in development for just about a year.
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Before this, the fastest development of a vaccine was four years. That was the mumps vaccine back in the 1940s. Most vaccines take decades of research and testing before going onto the market.
Yet the U.S. health care system pooled its resources and seems to have done the impossible. Weve said in these pages before that were in awe of American resilience. But this also proves something else
Our countrys health care sector is on a tear.
Annual health care spending per person has soared over 30% in the past 10 years. That means the industry is bringing in more and more money to allocate to things like research and technology. In fact, pharmaceutical companies and other investors reportedly contributed nearly $160 billion to health care research and development in 2018.
All those years of advancement have paid off. If our pharmaceutical giants can really pull off creating a vaccine from start to finish in a single year
it will be a global game changer.
Weve been excited about health care for a while. So we expect this growing trend to continue.
And while we dont necessarily recommend directly investing in Pfizer or Moderna in American Investor Today, we can tell you that these companies are part of our favorite one-click way to profit: the Vanguard Health Care ETF (NYSE: VHT).
This ETF holds a basket of health care stocks, so you dont have to pick and choose which companies will be the winners in this space.
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