2 High-Yield Dividend Stocks to Buy Now for a Lifetime of Passive Income

Core Insights - The pharmaceutical industry presents attractive passive income opportunities for investors, particularly through dividend-paying stocks like Pfizer and AbbVie, which have raised their payouts despite stock price underperformance [1][2] Pfizer - Pfizer's stock has lost approximately 50% of its value since the end of 2022, yet it has increased its quarterly dividend for the 15th consecutive year [3][4] - The current dividend yield for Pfizer stands at 6.5%, with expectations for further increases in the future [4] - Sales of cancer therapies surged by 31% year-over-year, driven by strong performance from the prostate cancer drug Xtandi and the combination therapy with Talzenna [5][7] - Pfizer's acquisition of Biohaven and its migraine drug Nurtec positions it favorably in the market, with 85% of primary care clinicians prescribing Nurtec [6][7] - The company anticipates adjusted earnings of $2.85 per share this year, supporting its annualized dividend payout of $1.68 per share [7] AbbVie - AbbVie's stock has only increased by 9.5% since the end of 2022, primarily due to the loss of patent protection for its leading drug, Humira, which saw sales drop from $21.2 billion in 2022 to an annualized $8.9 billion in Q3 2023 [8][9] - Despite the decline in Humira sales, AbbVie is raising its dividend payout by 5.8% for February, resulting in a current yield of 3.7% [9] - Third-quarter sales of Humira fell by 37% year-over-year, but this was offset by strong sales from newer drugs Skyrizi and Rinvoq, which together generated $19.3 billion in annualized sales [10] - The FDA's approval of Vyalev, a new Parkinson's disease treatment, adds to AbbVie's growth potential, targeting a significant patient population [11] - AbbVie has increased its dividend more than fourfold since its spin-off from Abbott Laboratories in 2013, indicating a strong outlook for continued dividend growth [12]