2 Dividend Stocks Defying the Tariff-Fueled Market Correction to Buy and Hold Forever

Prosper Junior Bakiny, The Motley Fool

Thu, Apr 17, 2025, 5:56 AM 4 min read

Equities are down this year because of Donald Trump's trade policies. The 47th U.S. president decided to impose steep tariffs on imported goods from most countries, although he has since significantly rolled back -- or at least paused -- these plans.

Amid all the volatility, some companies are proving resilient by performing much better than the market. Some of these look like excellent buy-and-hold options, especially for income-seeking investors. Let's consider two such corporations: Amgen (NASDAQ: AMGN) and Novartis (NYSE: NVS).

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Although President Trump has spared the pharmaceutical industry from tariffs for now, his administration has indicated that could change soon. That means drugmakers like Amgen might see a meaningful effect on their bottom line. According to some CEOs in the industry, tariffs could even lead to less innovation in the field. Still, developing lifesaving drugs is a business that will never be out of style, regardless of economic conditions.

Drugmakers that can adapt will likely perform well in the long run. Amgen is one of them. The biotech has a long list of approved medicines across multiple therapeutic areas. Last year, it had 13 products that generated at least $1 billion in annual sales. Most of these saw their sales move in the right direction.

Amgen boasts several exciting growth drivers. Tepezza remains the only therapy approved by the U.S. Food and Drug Administration (FDA) for thyroid eye disease.The biotech is aiming for regulatory approvals for this medicine in other countries, which will help boost its sales.

Amgen's therapy for asthma, Tezspire, co-marketed with AstraZeneca, is also performing well and continues to record important clinical wins that will lead to label expansions. Older drugs such as Repatha for high cholesterol and Evenity, used to treat the bone disease osteoporosis in post-menopausal women, are still among Amgen's best performers.

Lastly, the company has a deep pipeline. Despite phase 2 data for its weight management candidate, MariTide, that failed to impress, this investigational medicine could still go on to carve out a solid niche in the fast-growing weight loss market. Amgen has plenty of other exciting programs in the pipeline.

Amid all the economic issues we have experienced in the past five years, the biotech has continued to increase its dividends. Amgen's payouts have grown by 201% in the past decade, and it offers a forward yield of 3.2% at Wednesday's prices.