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Biotech / Medical : Amgen Inc. (AMGN) -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (436)	1/15/1998 4:40:00 PM
From: John F Beule	Respond to of 1906

Thanks for your diligent report. I too see 45-55 being the range for unfortunately awhile (long at 49). I have a hard time selling myself on whether to ride it out, or let the market discover it trading range. I believe that the overseas problems will bear out the safety-minded into like you say bonds and cash. But there is a definite case to buy AMGN on the basis that people still need to buy their drugs no matter the economic condition. Also, with all their cash, are'nt acquisitions in line ( I'm more of a tech investor, and am just into AMGN & AGPH, so I don't know the answer). Also, is'nt it possible to reduce their R&D to boost analyst EPS guidlines? They also are buying back stock in the open market, that should increase EPS as it reduces outstanding shares. I certainly am not getting any warm fuzzies about AMGN because of their H&Q meeting, but I see alot of potential if you factor out the fact that their internal pipeline is weak short-term. Whether or not the market judges it this way is the reason investments are speculative!