PMF---
Regarding BGEN's pipeline compared to others'---
From BGEN's website, they have one product in Phase IV, none in Phase III, four in Phase II, one in Phase I, two in preclinicals, and 3 in preliminary research (one of these is "gene therapy"; what in God's name is that? That's like describing a developing product as "heart medicine"!!). TOTAL: ELEVEN, but only one product potentially coming to market within the next year or two.
Genentech is filing on Nutropin Depot, so regulatory approval could come very soon. They have FIVE products in Phase III, six in Phase II, and two in Phase I. TOTAL: FOURTEEN, with six products nearing market.
Amgen has filed for Stemgen; they have two other products in Phase III, and seven in Phase I or II, and OPG is in Preclinicals, but I understand about to go into Phase I. Plus, the nature of AMGN's developing products (many of them, at least), are directed towards rather specific but nonetheless unique applications, and so will face much less competition than, say, yet another treatment for congestive heart failure. TOTAL: ELEVEN, with four products nearing market.
So, I would have to agree with you. Both Genentech and Amgen's pipelines look stronger than Biogen's, and both appear to be coming to market more quickly. While GNE's net margin is less than BGEN's (13% compared to 25%), AMGN's is superior (32%). And, based on the above, I would not be surprised to see GNE's net margins improving in the next year or two. I would lean toward both (as long term investments) before BGEN.
(For the record, I own AMGN, but not BGEN or GNE).
Regards,
Walkingshadow |
