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(Editor's Note: Come see Adam Feuerstein at the Money Show in San Francisco. Adam will be speaking to attendees on Friday, Aug. 8, at 2:15 p.m. ("Biotech Investing for Individuals: How to Turn Geeky Science Into Fat Profits"); again on a lunch panel on Saturday, Aug. 9, at 12:35 p.m. ("Tech and Biotech: Picks and Pans for 2008 and Beyond"); and again on Sunday, Aug. 10, at 8 a.m. ("Biotech Investing for Individuals: How to Turn Geeky Science Into Fat Profits").
The Biotech Mailbag is open, even on the Fourth of July.
The first email is from F. Mace, who asks:
"Why is Amgen (AMGN Quote) selling at such a discount to Celgene (CELG Quote) and Genentech (DNA Quote)? Do you think in the next six months biotechs as a group could have a significant rally?"
On the basis of Monday's intraday prices, Amgen trades at 11 times 2008 consensus earnings per share and 10 times the 2009 EPS estimate, as calculated by Thomson Reuters. ...
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