perhaps its because DNA can guarantee 20%+ growth rates y/y for the next few years and AMGN only in the teens. its all about the growth ...DNA is where AMGN was 4-5 years ago...a high growth proposition. AMGN 12bill total revs and DNA 6bill total. In a few years DNA will be 12 bill...the question remains how will AMGN get to 20b?
$20b in revenues should be acheived with the cuurent drugs plus the new drugs that will coming to market in the next period of time. In addition AMGN seems to be free of some Pharmas nightmare of drugs going off patent to generic. Competition between AMGN and DNA will be healthy and will drive both companies forward as they both enjoy being the #1 Biotech.