Abbott Labs up 100% in 15 months, still not expensive: Mehraboon Irani

In a chat with ET Now, Mehraboon Irani, Nirmal Bang Securities, shares his views on cash-rich pharma multinational companies (MNCs).

ET Now: Is there any cash-rich pharmaceutical stock that is looking good to you? Some MNC stocks such as Pfizer and Novartis rally pretty hard.

Mehraboon Irani: We continue to like Abbott Laboratories. The stock has given a return of more than 100 per cent in the last 15 months. We had managed to have an interaction with the management.

It is not easy to get in touch with an MNC, but we did manage to interact with them at the company's annual general meeting (AGM) that took place about a month and a half ago.

Looking at the numbers, which the management was talking about, the stock still does not look very expensive. So if somebody wants to buy an MNC knowingly well that the trend is for the market is going to go down in the next 15-20 days, then Abbott is a name that comes first on my mind.