3. GlaxoSmithKline ( GSK) Company profile: GlaxoSmithKline, with a market value of $115 billion, is one of the world's largest pharmaceuticals companies. Its dividend growth prospects and steady cash flow are relatively secure, given its huge list of patent-protected drugs. Its shares have yielded at least 4% annually since 2007. Dividend Yield: 5.21% Investor takeaway: Its shares are up 6.8% this year and have a three-year, average annual return of 11%. Analysts give its shares five "buy" ratings, four "holds," and one "weak hold," according to a survey of analysts by S&P. S&P has it rated "sell" on valuation concerns given the ratings firm's outlook for slow sales over the next few years. Analysts' consensus estimate is for earnings of $3.75 per share this year and $4.08 per share next year, or 9% growth. About 17% of its sales come from emerging markets and "Glaxo is one of the best-positioned pharmaceutical companies in emerging markets, which should help drive growth over the long term," says Morningstar's Conover. "We project the company will grow sales in emerging markets at 8% annually from 2011 to 2015." 2. Bristol-Myers Squibb ( BMY) Company profile: Bristol-Myers Squibb, with a market value of $53 billion, is one of the world's largest branded drug developers, with pharmaceuticals for cardiovascular and infectious diseases, cancer and psychiatric disorders. Foreign operations accounted for 35% of sales last year with emerging markets making up only 8% but has a long-term goal of 15%. Dividend Yield: 4.2% Investor takeaway: Its shares are down 7% this year, but over the past three years, its shares have an average annual return of 18%. Analysts give its shares six "buy" ratings, two "buy/holds," nine "holds," one "weak hold," and two "sells," according to a survey of analysts by S&P. Those same analysts expect it will earn $1.93 per share this year and decline by 4% to $1.86 in 2013. 1. Johnson & Johnson ( JNJ) Company profile: Johnson & Johnson, with a market value of $189 billion, ranks as the world's biggest and most diverse health-care companies. It has three divisions: pharmaceuticals, medical devices and diagnostics, and consumer products. International sales accounted for about 56% of 2011 revenue. Morningstar's Conover said the company "has one of the lowest exposures to the emerging markets out of the entire Big Pharma group, but is slowly embracing the idea" and making foreign acquisitions. "We estimate Johnson & Johnson's emerging-market sales contribution to hit 13% in 2015 from 10% currently," he said. Dividend Yield: 3.55% Investor takeaway: Its shares are up 6.5% this year and 7.4% annually over three years. Analysts give its shares 10 "buys," five "buy holds," and 10" holds, according to S&P. S&P has it rated "buy," with a $75 price target, which is a 9% premium to its current price. Analysts' consensus estimate is for earnings of $5.07 per share this year, rising to $5.47 in 2013, or 8% growth.