I had not written about Biogen Idec (BIIB) since this article in April 2013, in which I concluded Biogen still had not completed its ascent:
Biogen Idec: Too High Too Fast?
But after listening (and taking notes on) the Biogen Idec Analyst Call Q2 2014 I decided it was worth another look. While I generally like to think of myself as a long-term investor, I will cut back or even dump a stock if I think it has become way overpriced.
Seeking Alpha accepted my article, so you can read it there (per our agreement):
Can Biogen Idec Take Wing with Tecfidera?
Meanwhile, Amgen had a good report yesterday; you can read my summary Amgen Q2 2014 results. I used to watch Amgen a few years back and thought it had sagging sales and was overpriced compared to the stocks I chose to invest in (GILD, BIIB, CELG), but last fall I took another look. Amgen by then had developed a vast pipeline and was trading at a very low P/E compared to competitors. So I bought in during the biotechnology panic this spring. There are still issues with Amgen's aging drug portfolio, but it looks like several new drugs will get approved soon and the pipeline is very, very deep.