The Rising Influence of Rising Affluence

[DewDiligence]

AMGN’s buys Turkish drug company for $700M:

http://finance.yahoo.com/news/amgen-buying-turkeys-mustafa-nevzat-103141964.html ).

I like it! Turkey is one of the six most important emerging markets for drugs (#msg-47908751), and this deal shows that AMGN wants in on the lucrative business of selling branded generics in emerging markets. As I’ve posted on this board ad nauseam (e.g. #msg-66847124, #msg-61960596) branded generics in emerging markets is the most important future growth driver of the drug/biotech industry.

As for AMGN’s purportedly losing biotech “cred” by buying a generic-drug company, so be it. I’ll take profits over biotech cred any day of the week.