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Equity markets have handled the economic uncertainty and geopolitical instability we have seen in recent months admirably well so far. The S&P 500 is up 7% year to date. However, we may not be completely out of the woods. Who knows what else will happen that may bring fresh concerns to Wall Street? One way to prepare for that is to invest in quality dividend stocks. They tend to have robust underlying businesses, and the regular income they provide can help smooth out market losses in challenging times. With that said, let's consider two attractive income stocks investors might want to consider right now: Amgen (NASDAQ: AMGN) and Merck (NYSE: MRK).

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Last year, Amgen began facing biosimilar competition for denosumab, a medicine approved for osteoporosis (a bone disease), among other conditions. Although denosumab was a key growth driver for the biotech, its broad product lineup is helping it navigate this patent cliff fairly well. Amgen's revenue moved in the right direction last year and should do so again in 2026, based on the company's guidance.

Other products, including asthma treatment Tezspire and thyroid eye disease medicine Tepezza, are helping pick up the slack. In total, 16 of the company's brands posted double-digit growth during the first quarter. Amgen also has a deep pipeline with important potential catalysts over the next 18 months. One of the company's most promising candidates, MariTide, is an investigational GLP-1 medicine currently being evaluated in phase 3 studies in weight management and other indications.

MariTide is being developed as a once-monthly anti-obesity option -- none currently exists on the market. Provided it performs well in late-stage clinical trials, it could attract a significant number of patients in the fast-growing weight-loss niche.

Amgen has plenty of other phase 3 programs. The company is notably developing biosimilars for billion-dollar medicines, including Opdivo and Keytruda, two of the world's best-selling cancer drugs that will lose patent exclusivity within a few years. Amgen's biosimilar business is already performing pretty well, with its Pavblu (a biosimilar to Eylea) posting decent sales growth.

Amgen is well-positioned to deliver solid financial results for the foreseeable future, backed by its biosimilar business, a deep pipeline, and a strong lineup of medicines. Lastly, Amgen is a solid dividend stock. It has raised its payouts every year since initiating them in 2011, and it currently offers a forward yield of 3%, well above the S&P 500's average of 1.1%. Amgen is a great income-oriented stock pick to buy right now and hold onto for a long time.

Merck's most important medicine, Keytruda, will lose patent exclusivity in the U.S. in 2028. What will happen once biosimilars (like the one Amgen is developing) flood the market? The pharmaceutical giant is prepared to handle that. It has received approval for a subcutaneous version of Keytruda, which should capture some of the old version's patients since it is easier and faster to administer without compromising efficacy.

That alone won't be enough to fill Keytruda's big shoes, but Merck has plenty of other tricks up its sleeve. The company has expanded its pipeline in recent years, partly thanks to acquisitions. Some of the company's newer approvals have already been successful and will also help it move beyond Keytruda. For instance, Merck's Winrevair, a medicine for pulmonary arterial hypertension, is performing very well. The company's Capvaxive, a pneumonia vaccine, is also posting strong sales growth.

Merck has several more attractive pipeline candidates that will help it decrease its reliance on Keytruda. One of them is a potential influenza antiviral, CD388, that could help protect those at high risk of developing severe flu cases. Current flu vaccine options are not very effective, typically achieving efficacy levels of about 40% to 60%. As a result, many patients, especially the elderly and the immunocompromised, end up hospitalized. Merck is looking to fix that problem. The company's pipeline also features several in oncology and a potential weight-loss therapy.

Merck should succeed in navigating Keytruda's patent cliff and perform well long after. Meanwhile, it offers a forward yield of 3%, and it has increased its payouts by almost 94% over the past decade. Dividend seekers could be glad they bought this stock in 10 years.

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Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amgen and Merck. The Motley Fool has a disclosure policy.

2 Dividend Stocks to Double Up On Right Now was originally published by The Motley Fool