Amgen No huckster discount

Amgen’s $1bn in net profit for the second quarter will add gas to a biotech sector on fire. The world’s largest biotech increased its second quarter net income by a far greater than expected 38%. This comes a week after Genentech, a close second in size, saw its net income rise 73%. And both recently raised the amount they expect to earn this year. The two groups have partially fuelled a 19% rise in US biotech stocks over the past three months, in comparison to an 8% increase in the S&P 500. But...