Is Amgen Stock Worth More Than Its Competitors?

Amgen (AMGN) competes in a tight peer group of six large drugmakers alongside AbbVie, Johnson & Johnson, Merck, Pfizer, and Bristol-Myers Squibb. The company ranks second within this group for both sales growth and operating margin. Its valuation tells a different story. Leaving out Merck and Pfizer, which each reported a loss in at least one of their last four quarters, Amgen has the third highest P/E of the four companies that can be compared. So how far apart are what Amgen delivers and what