Amgen Inc. (AMGN) Message Board

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Biotech / Medical : Amgen Inc. (AMGN)

AMGN 336.85

-0.5%

1:32 PM EST

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To: DEER HUNTER who wrote (778)	6/9/1999 5:10:00 PM
From: Harold Engstrom	Read Replies (1) of 1906

This is very important. Amgen depends on EPO and NUPO to supply it with steady revenue and moderate growth - if EPO sees some market erosion due to competition, Amgen will have a difficult time even maintaining revenues at a steady-state. Amgen has a huge multiple for pretty unimpressive growth of late - this could correct Amgen to a more realistic multiple. My opinion, of course, but Amgen doesn't seem to have a high-powered pipeline to propel it to the kind of growth levels that investors have expected from Amgen in the past. This stock would scare me at these levels with this kind of exposure to revenue erosion. Does anyone have a very different take on Amgen's situation?

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