Biotech

Survey Says: Biotech Investors Cry Over Genentech (And More)

06/19/2009

Do you cry yourself to sleep at night because you miss Genentech so much? Fifty-eight percent of investors do, according to a Deutsche Bank survey that also provides a peek at H209 biotech events.

From: 
BNET Pharma

Bioplastics, The Other Side of Biotech

06/01/2009 by Research Reloaded

Despite my career in finance, in college I was studying biology in order to enter the Biotech industry, but mainly due to Biotech's potential for manufacturing materials rather than in regards to drugs. While I am confident that fields of plants commercially creating complete plastics will be a reality, we still have some time. Yet a more basic form of plant-based plastics, those made from vegetable products such as vegetable oil or corn starch, is starting to peak it's head out.

AMGN - 1Q09 Performance Analysis

04/27/2009 by Research Reloaded

A concise overview of Amgen's (AMGN) current situation, post 1Q09 results.

Summary

Amgen shares trade at a historically cheap trailing PE due to market concerns that key blockbuster drugs are seeing revenue declines and that Amgen’s pipeline is not sufficient to provide significant long term earnings growth.

In the most recent quarter, Amgen reported adjusted EPS of $1.08, down 4% YoY. Adjusted net income was down 8% and total revenue down 8% YoY as well. Nevertheless, an analysis of Amgen’s earnings call reveals that the company’s 8% revenue decline was not as bad as it might look on a first pass. One off factors such as a change in sales model for Amgen’s key product Enbrel, which benefitted last year’s revenue number by $120m, the divestiture of three drugs which had generated $200m, and a $69m forex effects caused the entire apparent decline. Adjusting out these factors would result in an adjusted revenue growth, rather than decline, of 3% YoY. Op expenses were down 10% due to tight cost control.

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