CSL Limited (ASX: CSL) and Cochlear Limited (ASX: COH) are two of Australia's leading healthcare businesses.
Here's a brief overview of each.
CSL
CSL is a $38 billion global biopharmaceutical company. That's a fancy way of saying they make drugs that go into your body to fight diseases. Many of the diseases targeted by CSL's products are life-threatening, making their products necessary and virtually invaluable to the end user. CSL's products cover blood-plasma therapies and vaccines, antivenoms, diagnostic products and pharmaceuticals.
CSL's share price has increased fantastically over the past two decades with its shares up 270% in the past five years alone.
Despite the dynamite growth, CSL most recently upped its 2017 half-year profit guidance to $US800 million, which would be 11% higher than last year.
Cochlear
Many people would have heard (pun not intended) of Cochlear because its hearing aid devices and accessories are renowned as being the best in the world. In fact, you know a product is good when most people call a hearing aid by it's "you know, the Cochlear thingy" instead of its actual name. Bandaids are a perfect example.
And when it comes to important things like hearing aids screwed into the side of your head, people are unlikely to be cheap and pay for some Chinese knock-off. Despite that chain of thought however, many people sold out of Cochlear shares in 2013, when its share price fell from $80 to less than $60 in 12 months, on fears of a Chinese competitor. Right now, it's pushing towards $130.
Foolish Takeaway
If you are looking for two of Australia's best businesses to add to your watchlist in 2017, look no further than CSL and Cochlear. However, if you want to go one step further and buy shares for your portfolio be prepared — you will have to pay up!
