Amgen Treated Like a Normal Drug Stock

Health and Healthcare

Published: January 25, 2007 4:12 pm

Amgen (AMGN-NASDAQ) posted EPS of $0.90, but $0.71 on GAAP EPS. Revenues were $3.73 Billion versus $3.7 Billion estimates. Revenues are projected for $15.4 to $16 Billion for 2007 and adjusted EPS put for 2007 at $4.30 to $4.50. Estimates for the quarter were $0.94 to $0.95 depending on your consensus, but 2007 estimates are $4.43.

The stock closed down 0.4% at $74.85 and is down almost 2% around $73.50 in the initial reaction. At the mid-point this is only a 17 P/E for 2007, so investors aren’t willing to pay up for Amgen’s earnings based on Congressional scares and potential patent issues in 2008 and beyond. The valuation isn’t the issue here, because this ons has been cheaper than many Big Pharma stocks for a while. Its market cap is $87 Billion.

Amgen is no longer treated like a biotech, it’s treated like a plain Jane drug stock. That might not be fair, but the market sets the rules.

Jon C. Ogg
January 25, 2007

Are You Still Paying With a Debit Card?

The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.

Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!

Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!

Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.