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FOREIGN VALUE: Novartis
Ticker: NVS
Market cap (billions): $120.9
P/E ratio*: 19
Earnings growth**: 14%
Dividend yield: 2.5%

Switzerland-based Novartis, one of the world's leading drugmakers, has divided its business into pharmaceutical, generic and biotech divisions. This three-pronged approach allows the company to weather changes in the economic climate. If one sector falters, the other two should keep Novartis from stumbling.

The company should also be able to keep growing thanks to two cancer treatments with blockbuster potential. In clinical trials, the bone-strengthening drug Zometa and the kidney-cancer drug RAD001 both had unexpected positive effects on breast-cancer patients.

NEXT: FOREIGN VALUE: Philips Electronics
Last updated June 20 2008: 2:35 PM ET
Criteria include low price/earnings and price/book ratios relative to competitors, rising profit margins, and accelerating earnings growth.
*Based on previous 12-months' reported earnings. **Wall Street estimates for the next three years.
Source: Zacks Investment Research
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