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

To: Joe Sabatini who wrote (438)	1/17/1998 6:27:00 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 1906

Re: CHIR vs. AMGN: I was comparing charts, not companies. You're right, the basic difference between the companies is that one makes money and the other doesn't. CHIR is half owned by Novertis, so it doesn't really control it's own destiny. I think of it as sort of a research arm of Novartis. I've read that it has great science, maybe the best among the biotechs, but isn't strong in any of the other things you need to do to actually make money. I'm not even sure that it's being managed with any intent to make money. Research divisions usually don't make money by themselves. The 5-year stock charts of Novartis, Amgen, and Chiron make this clear. If Novartis is ever available at a reasonable PE (less than it's growth rate), I'd buy it. I'll buy Amgen when I think it's hit bottom. Hopefully, it will be at an unreasonably low valuation. I won't buy Chiron.