Amgen, Inc. (AMGN)’s Acquisition Ambition Leads Biotechs’ Rise

That market could one day grow to more than $20 billion in annual sales, according to analysts. It’s tempting potential for Idenix and its competitors racing to develop the first all-oral drugs for this disease, but until Idenix Pharmaceuticals Inc (NASDAQ:IDIX) can show more progress, investors will have to be patient about gains.

Biotech’s known for volatility, and one of this year’s biggest booms suffered a hit on that end this week. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), which has seen shares explode for gains of more than 142% year to date in 2013, lost more than 11% this past week to rank as one of biotech’s biggest busts over the last five days.

Despite the drop, you shouldn’t be worried. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was bound to retreat eventually, given the stock’s dramatic rise, and with little news out from the company this week, the shares’ fall is a result of profit-taking by opportunistic investors. However, it’s the long-term investors who could win out the most with this stock. Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY)’s ALN-TTRsc subcutaneous treatment for rare genetic disorder TTR amyloidosis has posted spectacular results in early stage trials, and while you’ll need to wait for later-stage data to be truly confident in the drug’s success, the data’s pointing in the right direction for this young biotech’s product.

The article Amgen’s Acquisition Ambition Leads Biotechs’ Rise originally appeared on Fool.com and is written by Dan Carroll.

Fool contributor Dan Carroll and The Motley Fool have no position in any of the stocks mentioned.

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