You’ve probably heard this before: Pharmaceutical stocks can bring an element of safety to your portfolio. Why is this the case? These companies make drugs doctors and patients rely on — and that means no matter what the economy is doing, doctors will continue prescribing and patients will continue buying these treatments. All of this equals a rather steady stream of revenue for a pharma company, and this could translate into positive stock price performance over time.

Sales of these drugs also have helped put many pharma companies in position to reward shareholders through dividend payments. So, pharma stocks could offer a secure revenue stream and the potential for passive income.

And you don’t need deep pockets to invest in these players. In fact, with $500 or even less, you can get in on the following two big pharma companies that make great stocks to buy and hold forever.

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1. AbbVie

AbbVie‘s (ABBV -1.23%) blockbuster immunology drug Humira brought in more than $21 billion at its peak in 2022 — but as rivals entered the market in recent times, the product’s sales have been on the decline. The good news is that AbbVie prepared well for the loss of exclusivity and has other products that could keep the company’s growth going over the long term.

In immunology, AbbVie has paved the path for two other drugs — Rinvoq and Skyrizi — to together surpass Humira’s peak sales. And they’re on the way to doing so, as their sales have soared in the double digits from quarter to quarter. In the latest period, Rinvoq and Skyrizi sales rose 45% to $1.6 billion and 50% to $3.2 billion, respectively.

AbbVie also has an impressive neuroscience portfolio, including products such as Botox for migraine and Vraylar for bipolar disorder, and the company recently completed the acquisition of Cerevel to further boost the product lineup.

In the recent quarter, AbbVie reported sales that were more than $200 million higher than expected — and the company increased its full-year revenue and earnings per share guidance for the third time this year. Finally, you’re likely to benefit from dividend growth here, thanks to AbbVie’s status as a Dividend King.

All this means there’s reason to be optimistic that, even as Humira’s revenue declines, AbbVie is transitioning into a whole new period of growth.

2. Pfizer

Pfizer (PFE -0.72%) stock took off in the early days of the pandemic as it launched the world’s first coronavirus vaccine and brought in blockbuster revenue. This product and Pfizer’s coronavirus treatment even helped the company to reach more than $100 billion in annual revenue, its highest ever.

But in more recent times, declining demand for coronavirus products have weighed on Pfizer’s revenue and on the stock price. On top of this, some of Pfizer’s top drugs are set to lose exclusivity this decade.

All this has left the shares trading at the dirt cheap level of 8x forward earnings estimates. Why are they a bargain at this price? It’s important to remember that, though Pfizer’s coronavirus platform drove revenue in recent years, the company has since shifted to other products that could compensate for the decline in older ones and boost revenue down the road.

Pfizer has launched several new products over the past year or so — completing its biggest period of product launches ever — and is betting its acquisition of cancer specialist Seagen will help it meet big goals in this area.

The situation looks promising so far. In the first half of the year, Pfizer was the No. 3 U.S. oncology company by revenue — and in the recent quarter, Pfizer’s oncology portfolio posted 31% year-over-year growth.

The pharma giant also says boosting its dividend over time remains a key part of its strategy, suggesting investors can count on Pfizer for passive income. This, as well as Pfizer’s focus on new products to grow revenue, makes this stock a great addition to your “forever” portfolio.