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Biotech / Medical : Amgen Inc. (AMGN)
AMGN 338.46+4.6%Nov 11 3:59 PM EST
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To: Bill Martin who wrote (848)10/21/1999 3:45:00 PM
From: JGoren  Read Replies (4) of 1906
 
It was rather late last nite, early morning; my apologies if I goofed. But, one article I read said the company missed the number essentially because one-time event was greater than the anticipated number. That's missing in my book. Regardless of the price reversal today, the news sound good. Next year's down pressure on earnings is slated to be due to increased costs associated with bringing out new drugs in Y2001. Given the lack of new product coming out of the R&D/FDA pipeline, that's good news for us long-term holders. (Me, since 1989.) It, however, is a bit of a concern that the company has no better use for its cash than to repurchase its shares; on the other hand, it will use those shares to satisfy options, so we won't have a lot more shares being issued to dilute our EPS.
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