In the following video, Fool contributor Maxxwell Chatsko analyzes Amgen's (NASDAQ: AMGN) novel approach to treating late-stage melanoma. The biotechnology giant announced positive top-line results in March with detailed overall survival data on its way in late 2013. While the overall market for melanoma is large, patients with late stage melanoma have substantially fewer treatment options.
Investors are poised to capitalize on the Amgen's focus on biologics, which has already begun paying off so far in 2013. For the most part, Wall Street left this drug's potential out of the company's valuation and had to move quickly to adjust for the surprising preliminary results announced during the first quarter. Can this first-of-its-kind cancer immunotherapy revolutionize the cancer market at large and lead to even more gains?
While you can certainly make huge gains in biotech and pharmaceuticals, the best investing approach is to choose great companies and stick with them for the long term. The Motley Fool's free report "3 Stocks That Will Help You Retire Rich" names stocks that could help you build long-term wealth and retire well, along with some winning wealth-building strategies that every investor should be aware of. Click here now to keep reading.