A potential comparable

Tough to find old charts on this one.  Amgen received approval for Epogen in June 1989.  The share price had a steady albeit bumpy ride up until the approval, thereafter it took a while to grow.  In June 86 the price was about 51 cents, June 87 it was 75 cents, and about $1 when the product came on the market.

In 1992 the price had grown to a high of 9.72.  In Feb of 93 the price dropped as low as 3.97, a 59% drop!  Recovery was long and hard for this one, it took until 1995.

There were further bumps in the road for this one in 1997, when it declined 34% from May to September.  By July of 98 it recovered, and in March of 99 it had doubled.  January 2000 it was $75.

This company now trades in the 160's albeit 30 years past its pre approval stage.  320 times your money.  Good and bad times will come and go for the market, but buying and holding great product companies of the future can work well.

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