Gilead & Amgen Account for Nearly 75% of the Biotech Profit Pool

Bernstein’s Geoffrey Porges and Vincent Chen note that Amgen (AMGN) and Gilead Sciences (GILD) make up 71% of the biotech industry profit pool–but only Gilead has above-average return on invested capital. They explain: munish sharma/Reuters The overall size and makeup of the biotech industry’s profit pool has changed dramatically over the past ten years. (We […]